How to Use MINDS Tokens
MINDS tokens are used across the network in a number of different ways. Tokens can be purchased or earned through the daily reward program.
a. Advertising / Boosting
Tokens can be used to purchase advertising impressions on the network through Boost. One token grants guaranteed views of your content or channel from the greater Minds network. Boosting is an effective way to grow an audience or gain more exposure on a channel or any given piece of content.
Boosting your content produces full multi-media, in-newsfeed advertisements that have proven to be one of the most valuable and popular services social media can provide. The system was built in reaction to restricted organic reach and algorithms on establishment social networks to give users full control over the reach of their content.
b. Payments
With Minds Pay, any user on the network is able to send tokens 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 peer-to-peer Bitcoin, Ether and cash payments.
By leveraging smart contracts for peer-to-peer payments, content creators can autonomously own the relationships with their supporters and advertisers without the level of risk of interference from a centralized authority or service provider.
c. Provide Liquidity
Any token holder can pool MINDS alongside ETH, USDC, USDT or any other supported pools in the future and provide liquidity for the asset pairs on Uniswap.
Users who provide liquidity to the MINDS pools earn fees on swaps as well as benefits on the Minds network such as daily token rewards and optional 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 percent share of the MINDS liquidity pool.
This is 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.
d. HODL
All token holders can earn daily rewards by simply holding their MINDS on-chain and connecting their wallet to their Minds account.
Banner art credit to @neutronboar
To learn more about MINDS, here are some additional guides:
- Whitepaper
- MINDS: The New Contribution Economy
- How to Connect Wallet
- How to Buy MINDS Tokens
- How to Earn MINDS Tokens
- How to Transfer MINDS Tokens
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