Introducing Topic.Market — A Social Platform Where You Can Trade Hot Topics
Topic.Market is a revolutionary platform where you can trade hot topics. From cryptocurrency trends to breaking news, you can not only contribute your voice but also gain profits from them.
Background
Every day, people talk about a variety of topics like news, celebrities, companies, trending buzzwords, and emerging viewpoints. These topics, as they’re discussed and spread, carry great hidden value during the process of becoming popular.
Topic.Market is designed to help individuals capture the dynamic value behind each topic. By enabling people to engage with real money, it offers a genuine and objective measure, acting as an indicator for market sentiment.
Furthermore, Topic.Market aims to connect people who are interested in the same topics and share similar opinions. This facilitates the quick formation of like-minded groups, united by strong consensus.
Product Overview
Topic.Market is both a social platform and a marketplace for discovering trending topics, supporting opinions, and trading them. Users can purchase “Power” of a Topic to participate, and further buy “Votes” to back a specific opinion.
1) What is “Topic” and “Power”?
A “Topic” refers to a subject of public interest. It could be a social trend, a news headline, a political discussion, an event name, or even a celebrity — anything that captures public attention.
“Power” is the tradable unit of a particular Topic, allowing you to show your interest in it. The “Power” can be used to support an opinion under the Topic, and you can also trade the “Power” to make a profit.
2) What are “Opinion” and “Votes”?
“Opinions” represent the viewpoints people hold regarding a specific Topic. For instance, in the context of the Topic “SocialFi”, people might express Opinions like “SocialFi is the future” or “SocialFi is just a buzzword.”
“Votes” are the tradable units of an “Opinion”, just like “Power” is to a “Topic”. You can use “Power” to buy “Votes” to show your endorsement of a particular opinion.
3) How to trade “Power” and “Votes”?
You can trade “Power” and “Votes” much like you would on an AMM DEX, but the prices of them are directly determined by our Pricing Formula without liquidity concerns. We call them Automatically Priced Assets, which means the pricing mechanism and liquidity solution are directly integrated into the smart contract. The details can be found here.
4) What is the trading fee?
When buying and selling Power or Votes, a 5% trading fee is applied. Of the 5% fee, 2% is taken in the form of Power or Votes respectively and is burned, 1% is returned to the Influencers through our referral mechanism, and 1% is retained by the platform.
To prevent bots from buying Power or Votes at the earliest and cheapest price, we’ve implemented a Bot Prevention Mechanism. Initially, the buying fee starts at 65% for Power and Votes, then linearly decreases to 5% over the first 30 minutes, and subsequently remains at 5%. Note that during this period, all the extra buying fee is burned.
This table provides a clearer illustration of the trading fee details:
5) How to create ‘Topic’ and ‘Opinion’?
Anyone can submit topic and opinion proposals by clicking the “Propose a Topic” or “Propose an Opinion” button. Once the proposed topics or opinions are reviewed and approved, they will appear on the trading list.
What’s coming next?
Topic.Market is in Beta Phase now. As we progress, we have a lot of exciting features and incentive mechanisms lined up for our users. Here’s a sneak peek at what’s coming:
1. Referral Program
We’re about to launch a referral program. Users who meet certain criteria will be eligible to invite friends and earn commission fees. By inviting friends to join Topic.Market, they can earn 1% of the trading fees from their referrals’ tradings. Additionally, the referred friends will receive point rewards for joining.
2. Point System
Points at Topic.Market represent a user’s overall contribution to the platform. A user’s points are determined by their trading volume, assets held, referrals, and promotional efforts on social media. There are numerous reward activities based on these points. Moreover, points can be used to vote on topics and participate in more decision-making processes.
Stay tuned as we continue to innovate and enhance the Topic.Market experience!
Quick Links
Website: https://topic.market
Twitter: https://twitter.com/TopicMarket
Docs: https://docs.topic.market/
Medium: https://topicmarket.medium.com
