Minds has recently gone through some major updates for their platform and their tokenomics. I chat with Bill Ottman the CEO & co-founder of Minds to talk about all the changes and what to expect next.
Some of the prominent updates to the token were burning 75% of the supply, more ways to earn tokens, Uniswap integrations for liquidity pool providing, on-chain holding rewards, more minds tokens being distributed, and much more.
Learn more about all that here: https://www.minds.com/token
This fully details all the changes: https://www.minds.com/minds/blog/minds-token-the-new-contribution-economy-1215747901119418368
Minds is a social media platform that offers crypto token rewards for using the platforms as a creator or general user. You earn tokens for your participation on the platform and are able to then benefit further via holding them on-chain to earn more, providing liquidity, or using them for boosting content. Its token MINDS is an ERC20 token on the Ethereum blockchain. Minds aims to be a crypto alternative to Facebook with similar features such as newsfeed, groups, and messenger.
These are some of the questions we went over:
• Can you tell us a little bit about yourself?
• Can you give us a brief introduction to Minds?
• What are Minds’ plans around KYC and how easy is it to qualify to receive rewards?
• Let’s talk about the new tokenomics on Minds, first off, how are the new tokens distributed?
• Can you explain the new engagement rewards and multipliers?
• How do you earn with holding on-chain?
• Can you walk us through the liquidity providing process and what those rewards look like?
• Can you explain the ad share program that liquidity providers can benefit from?
• Where does Minds fit in with other existing similar projects?
• Where do you see Minds going in the next year? The next 5 years?
• So where can everyone go to learn more about this?
Check out https://www.minds.com/ for more information and to learn more about what they have to offer.
Are you using Minds? Do you plan on using Minds? Do you hold or intend to buy Minds tokens? What do you think about Minds? Let us know if you have any further questions on Minds in the comments below and don’t forget to like and subscribe as well!
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