DAOrayaki DAO Research Grant:

Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

Voting Result:DAO Committee Yes

Grant Amount:200 USD

Category: DAO, Decentralized Social Media, Social Network

Contributor:Julie,DAOctor @Daorayaki


current price:$1.14(2021.8.4)

Market Cap:$7,159,682

Trading Volume:$894,028.69

Max Supply:250,000,000

Token name:API3

Token type:ERC-20

1、Project Summary

Minds is an alt-tech blockchain-based social network.Users can earn money or cryptocurrency for using Minds, and tokens can be used to boost their posts or crowdfund other users.Minds was co-founded in 2011 by Bill Ottman and John Ottman as an alternative to social networks such as Facebook, which the founders believed abused their users via "spying, data mining, algorithm manipulation, and no revenue sharing".A Facebook page affiliated with the hacktivist group Anonymous encouraged its followers to support Minds in 2015, and called for developers to contribute to the service's open source codebase.

In 2018, over 150,000 Vietnamese users joined Minds after fearing that Facebook would comply with a new law requiring them to remove political dissent and release user data to the Vietnamese government.Beginning in May 2020, over 250,000 Thai users joined Minds after growing concerns about privacy on Twitter, which had been widely used for political activism.This led Minds to add Thai language support to its mobile apps, and upgrade its servers to handle the influx of traffic.

In January 2021, after YouTube and Facebook removed tens of thousands of Trump supporters and white supremacists from their platforms, Minds was among the alternative apps those users adopted.

2、Team members

l Bill Ottman——CEO/Founder

Bill Ottman (born November 2, 1985) is an American Internet entrepreneur and freedom of information activist based in New York City, best known as the CEO and co-founder of Minds.Born and raised in Norwalk, CT, Ottman pursued English and music at the University of Vermont while working as a collaborative artist and event director in Burlington, VT. In 2010, he worked as Director of Marketing at Gathering of the Vibes Music and Arts Festival.In 2011, Ottman co-founded Minds, an open source social networking platform that is regarded globally as an alternative to traditional social media networks based on its dedication to radical transparency, monetization, digital rights, blockchain and equity crowdfunding.

l John Ottman ——Chairman and Cofounder

In addition to his role as Minds chairman and co-founder, John is Executive Chairman of Solix Technologies, Inc. and brings over 30 years of software industry experience. Previously, he was President and CEO of Application Security, Inc. (Trustwave), President of Princeton Softech, Inc. (IBM), and Executive Vice President, Worldwide Markets at Corio, Inc. (IBM).He also has held key executive roles at Oracle, IBM and Wang Labs and is author of the book Save the Database, Save the World!

l Mark Harding—— Chief Technology Officer

Mark is the lead developer and technical leader of the global Minds open source community. Prior, Mark was Founder and CEO of Kramnorth. He is an orchestral musician,graduate of the Royal Conservatoire of Scotland and has been coding open-source systems for over a decade.

l Jack Ottman —— Chief Operating Officer

Jack is an Chief Operating Officer and joins Minds from IBM Software Group where he was a top sales executive in the Communications sector, focused on cloud and e-commerce.Jack graduated from Washington & Lee University with a BA in Business Administration.

l Peter Schwartz - Chief Financial Officer

Peter Schwartz has over 30 years of senior financial management experience in the software and technology arena. Pete has most recently served as CFO at Cloudcheckr, a leading cloud analytics firm. He has also been the CFO at Application Security (Trustwave).

3、Governance and Incentive mechanisms

3.1. Token Utility

The underlying principle is to fairly compensate community participants contributing the most to different aspects of the ecosystem through daily rewards. The hybrid on-chain/off-chain system enables scalability and easy UX while simultaneously empowering users with the option to transact with tokens via sovereign web3 wallets.


1)Across the network for advertising

2)liquidity mining

3)Ad mining



6)Unlocking memberships

7)Establishing decentralized reputation

3.2 Boost Offer

The smart contracts for the Boost system contain specific data disclosures for on-chain advertising on the platform.

l The Boost GUID (global unique identifier)

l The wallet address of both the sender and receiver

l Paid promotion tool

Boost Offers is a paid promotion tool, where users can send offers of MINDS tokens to other users in exchange for a guaranteed ‘remind’ (share) of that content to their audience. In other words, User A can offer User B any amount of tokens to share their post.

l Transaction

Every on-chain MINDS token transaction establishes a direct, peer-to-peer relationship between advertisers and content creators with a smart contract. This enables creators to autonomously own the relationship with their advertisers and minimizes risk of third party interference or demonetization. The Boost protocol is platform agnostic and may be implemented on other nodes beyond Minds.com.

l MD5 checksum to verify the integrity of the data

Minds will use a simple, yet effective MD5 hash of the following attributes (boost_guid, boost type (newsfeed, offer, sidebar), owner_guid, perma_url, message, title, time_created). Should any of these variables change in the future, it will generate a new MD5 checksum, indicating that the integrity of the Boost has been modified. While MD5 has been widely deprecated from use as a password hashing algorithm due to its chances of possible collisions, it provides a quick and inexpensive 32-byte hash for simple change validation.

3.3 Liquidity and Ad Mining

“Uniswap is an automated liquidity protocol powered by a constant product formula and implemented in a system of non-upgradeable smart contracts on the Ethereum blockchain.It obviates the need for trusted intermediaries,prioritizing decentralization, censorship resistance, and security. Uniswap is open-source software licensed under the GPL.”

Moving forward, token holders on the Minds network will be able to easily pool their MINDS holdings alongside ETH, USDC, USDT or any other supported pools in the future, to provide liquidity for the token and earn. Users who provide liquidity to the MINDS pool on Uniswap earn fees as well as benefits on the Minds app such as daily token rewards and the option for automated advertising of your channel.

Liquidity providers can opt-in to receive a share of ad space in a new featured ad slot on the main newsfeed based on their proportional share of the MINDS liquidity pool and pool token balance.

This will be one of the first liquidity programs to include such a degree of direct advertising utility where the liquidity provision acts as a passive form of payment to the ecosystem. Minds currently serves roughly 30 million impressions per month through the Boost system.

3.4 Minds Pay

Minds Pay (formerly known as ‘Wire’), any user on the network is able to send MINDS directly to other users, either as a tip for enjoying content or as a payment for a premium membership such as Minds+ or Minds Pro. Memberships enable Minds and its users to offer perks to fans in exchange for a payment, such as posting exclusive content behind a paywall. Minds Pay also supports Bitcoin, Ether and cash payments.

l Autonomous Peer-to-Peer Monetization

1、It can be used simply as a way for supporters to send a tip or donation on content they enjoy.

2、Creators can offer paid monthly subscriptions to their supporters which provide access to exclusive content and other custom rewards.

l Recurring Payments

For recurring subscriptions to be possible on the blockchain, pre-approvals must be made to the Wire smart contract so that funds are able to be claimed at later dates.

3.5 Contribution Rewards

Contribution to the success of a social network comes in many forms.  Tokenizing the services that the network provides creates an innovative system for both measuring and rewarding different contribution types to properly align the incentives of both the platform and its community.


l Development

l Content creation

l Moderation

l Curation and liquidity

l Beta Rewards

Minds will distribute an initial token reward to its Beta community for their participation in Minds’ development and testing processes.

l Ongoing Rewards

Minds will mint tokens on an ongoing basis to reward the community for their contributions to the network. The token supply is engineered to scale autonomously with the growth of the network. Tokens that are reclaimed for Minds services will be recycled into the reward pool or sold in order to help replenish the token supply.

3.6 Reputation

Spam is a never-ending challenge for social networking platforms that allow user-generated content and do not require invasive personal information to register. The MINDS token provides a unique way to measure user contribution which in turn can serve as a valuable data point to help understand the reputation of an individual.

Currently, the Minds platform requires a token balance history in order for an account and its content to be indexed by search engines and accessible to logged-out visitors. This has proven highly effective and has resulted in a notable reduction in inauthentic activity.

4、Contact Information

Official website—https://www.minds.com/

Twitter — https://twitter.com/minds

Github — https://github.com/minds


DAOrayaki DAO Research Grant:

Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

Voting ResultDAO Committee Yes

Grant Amount200 USD

Category: DAO, Decentralized Social Media, Social Network

ContributorJulieDAOctor @Daorayaki





最大供应量:250,000,000 MINDS

Token name:MINDS

Token type:ERC-20

1 项目总览

Minds 是一种基于区块链的另类科技社交网络平台。用户可以通过使用 Minds 来赚钱或赚取加密货币,其代币可被用于增加其帖子曝光度或是为让使用者进行众筹。Minds 由 Bill Ottman 和 John Ottman 于2011年共同创立,是Facebook等社交网络平台的替代品,创始人认为Facebook通过“监控,数据挖掘,算法操纵和无共享收益”侵害了使用者的权力。隶属于黑客组织 Anonymous 的 Facebook 页面鼓励其追随者在 2015 年支持 Minds,并呼吁开发人员为该服务的开源代码库做出贡献。


从2020年5月开始,超过25万泰国用户加入了Minds,在这之前泰国人民越来越担忧Twitter上的隐私问题,因为该隐私问题会让泰国民众进行政治活动时造成不利影响。这也导致 Minds 将其手机应用程序添加泰语支持,并升级服务器以处理流量的涌入。

2021 年 1 月,在YouTube和Facebook从其平台上移除数万名特朗普支持者和白人至上主义者之后,Minds 成为这些用户采用的替代应用程序之一。


l Bill Ottman——CEO/创始人

William Ottman(1985 年 11 月 2 日出生)是美国互联网企业家和纽约市信息自由活动家,最著名的是 Minds 的首席执行官和联合创始人。Ottman 在康涅狄格州诺沃克出生和长大,在佛蒙特大学攻读英语和音乐,同时在佛蒙特州伯灵顿担任合作艺术家和活动总监。2010 年,他在 Gathering of the Vibes 音乐和艺术节担任营销总监。2011 年,Ottman 与他人共同创立了 Minds,这是一个开源社交网络平台,因其致力于彻底的透明度、货币化、数字权利、区块链和股权众筹而被全球视为传统社交媒体网络的替代品。

l John Ottman ——董事长兼联合创始人

除了担任 Minds 董事长和联合创始人之外,John 还是Solix Technologies, Inc.的执行董事长,拥有 30 多年的软件行业经验。此前,他曾担任 Application Security, Inc. (Trustwave)的总裁兼首席执行官、Princeton Softech, Inc.(IBM)的总裁以及 Corio,Inc.(IBM) 的全球市场执行副总裁。他还曾在 Oracle、IBM 和 Wang Labs 担任过重要的执行职务,并且是《拯救数据库,拯救世界》的作者。

l Mark Harding—— 首席技术官

Mark 是全球 Minds 开源社区的首席开发人员和技术负责人。 在此之前,Mark 是 Kramnorth 的创始人兼首席执行官。 他是一位管弦乐音乐家,毕业于苏格兰皇家音乐学院,十多年来一直在编写开源系统。

l Jack Ottman ——首席运营官

Jack 是我们的首席运营官,他从 IBM 软件集团加入 Minds,在那里他是通信领域的顶级销售主管,专注于云和电子商务。Jack 毕业于华盛顿与李大学,获得工商管理学士学位。

l Peter Schwartz - 首席财务官

Peter Schwartz在软件和技术领域拥有30多年的高级财务管理经验。Peter最近担任 Cloudcheckr 的首席财务官,这是一家领先的云分析公司。他还曾担任应用程序安全 (Trustwave) 的首席财务官。


3.1 代币效应

基本原则是通过每日奖励公平地补偿对生态系统不同方面贡献最大的社区参与者。链上/链下混合系统可实现可扩展性和简单的用户体验,同时让用户可以选择通过主权 web3 钱包使用代币进行交易。









3.2Boost Offer

Boost 系统的智能合约包含平台上链上广告的特定数据披露。

l Boost GUID(全局唯一标识符)

l 发送方和接收方的钱包地址

l 付费推广工具

Boost Offers 是一种付费推广工具,用户可以在其中向其他用户发送 MINDS 代币的优惠,以换取有保证的“提醒”(分享)该内容给他们的受众。 换句话说,用户A可以向用户B提供任意数量的代币来分享他们的帖子。

l 交易

每个链上 MINDS 代币交易都通过智能合约在广告商和内容创建者之间建立直接的点对点关系。这使创作者能够自主拥有与其广告商的关系,并将第三方干扰或取消货币化的风险降至最低。Boost协议与平台无关,可以在 Minds.com 之外的其他节点上实施。

l MD5校验和来验证数据的完整性

Minds 将使用以下属性(boost_guid, boost type (newsfeed, offer, sidebar), owner_guid,perma_url, message, title, time_created)如果这些变量中的任何一个在未来发生变化,它将生成一个新的 MD5校验和,表明Boost 的完整性已被修改。虽然MD5由于可能发生冲突而被广泛弃用,不能用作密码散列算法,但它提供了快速且廉价的32字节散列,用于简单的更改验证。






3.4Minds Pay

Minds Pay(以前称为“Wire”),网络上的任何用户都可以直接向其他用户发送想法,要么可以作为享受内容的提示,要么可以作为对Minds+或Minds等高级会员的专业付费。会员资格使Minds及其用户能够向粉丝提供福利,以换取报酬,比如在付费墙后面发布独家内容。Minds Pay还支持比特币、以太和现金支付。

l 自主点对点货币化



l 固定开支

为了在区块链上进行重复订阅,必须对 Wire 智能合约进行预先批准,以便能够在以后领取资金。




l 开发

l 内容创作

l 节制

l 策展和流动性

l  测试奖励

Minds 将向其 Beta 社区分发初始代币奖励,以奖励他们参与 Minds 的开发和测试过程。

l 持续奖励

Minds 将持续铸造代币,以奖励社区对网络的贡献。代币供应旨在随着网络的增长而自主扩展。为 Minds 服务回收的代币将被回收到奖励池中或出售,以帮助补充代币供应。


对于允许用户生成内容且不需要侵入个人信息进行注册的社交网络平台来说,垃圾邮件是一个永无止境的挑战。MINDS 代币提供了一种衡量用户贡献的独特方式,进而可以作为有价值的数据点来帮助了解个人的声誉。

目前,Minds 平台需要代币余额历史记录,以便搜索引擎将帐户及其内容编入索引并可供注销的访问者访问。这已被证明非常有效,并显着减少了不真实的活动。


Official website—https://www.minds.com/

Twitter — https://twitter.com/minds

Github — https://github.com/minds



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