Rewarding voices with transaction fees, an article to understand the attention market experiment Loud

Original Author: @0x_ultra

Compiler: Zen, PANews

TL; DR (Summary of Key Points)

Loud is an experiment on the relationship between attention and value. $LOUD tokens have no intrinsic value on their own, and each transaction incurs a fee, which is used as a weekly marketing budget to reward the top 25 users who can best increase Loud's mind share. Distribute using @KaitoAI of Mindshare data, which is one of the most efficient incentives out there.

This is not a revolutionary paper on the mechanism of attention in neural networks; Rather, it is an experiment in the purest attention market. This experiment is to run permanently, without human intervention.

Sources

of InspirationWe often talk about the attention economy in Web3, and the platform built by Kaito AI is essentially a system that allows everyone to participate in attention trading, thereby accelerating the development of the entire industry. In the process, it has also created one of the best proof-of-work incentives in history: a reward based on "mindshare". This Web3 primitive allows the project team to get the highest possible output for every dollar invested: to create a pool of rewards to be contested by those who are willing to put in the effort. This is the first piece of the puzzle.

The second part is inspired by the successful practice of Believe, a Web3 startup platform: through transaction volume and fees, establish a long-term model of binding the interests of speculators and creators, so as to feed back the continuous creation of creators. In fact, the attention of the project is completely dependent on the output and maintenance of the creator, so the creator is the key driver to maintain the attention.

So what if we could combine the best of both models and create a new incentive mechanism where the motivations of all participants are aligned with the goal of "maximizing mind possession"?

What is Loud?

Loud is an experiment that distills the purest form of cryptographic primitives and removes the intermediate product form.

It's time for the "3, 3 game theory" to return.

(3, 3) Game theory is a concept proposed by Olympus DAO, which is derived from the collaborative thinking in game theory, which expresses the situation that can achieve a "win-win" situation if the participants cooperate with each other. Its essence is an optimized version of the Prisoner's Dilemma, combined with Web3's tokenomics model, to convey the idea of "we win together" to the community in an understandable way.