Kriptoks

Minds (MINDS) is a social network that allows users to earn native cryptocurrency of the Minds network. The platform's mission is to bring back internet freedom on social media, offering organic reach, privacy, and monetization opportunities. With around four million users, the platform claims to be the leading open-source social network globally.

As social media became an inevitable part of everyday life, it became clear that blockchain technology was necessary for WEB 3.0. Mainstream platforms had become burdened with centralization and secrecy, making it necessary to adopt a transparent and decentralized network. This led to the development of the Minds platform.

MINDS is the native token of the Minds platform, based on the ERC20 token standard and working on the Ethereum blockchain. According to the website, MINDS coin is the fuel of the Minds network, incentivizing community participation actively. The token rewards users for contributing to the platform and allows access to paid services, including advertising and premium membership.

The MINDS token is also used to purchase advertising impressions through boost, guaranteeing views of the user's content and providing an effective way to grow an audience and gain exposure. Holders of MINDS tokens can also provide liquidity to the token via the liquidity pool and earn rewards on Uniswap. Minds Pay is another feature of the platform where users can send MINDS directly to each other as a tip or payment for premium membership. The platform is preparing for a decentralized autonomous organization (DAO) to open the governance system of the platform in the near future.

Minds app was launched in 2015, and the whitepaper was released on March 9, 2021. The core team includes Bill Ottman (CEO), Mark Harding (CTO), Jack Ottman (COO), and Peter Schwartz (CFO). The initial supply of the coin was 1,000,000,000 MINDS, reduced to 250,000,000 MINDS on March 8, 2021.

The Minds platform has gained popularity due to its focus on internet freedom and decentralization, providing users with the opportunity to earn rewards for their contributions. As blockchain technology continues to evolve, it will be interesting to see how Minds and other decentralized platforms will continue to impact the social media landscape.