Background

This doc captures Manifold’s thoughts on how to progress from “fake points” to “viable business model” and/or “crypto”.

Proposals

0. Fake points

What we have today; see Dynamic Parimutuel

• On signup, users get airdropped M$ 1000
• Creators can set up markets on any question
• Users can bet on YES or NO
• Creators resolve the markets for 1% of the total volume
• We burn 1% of the total volume (?)

1. Paying for fake points

• Users may buy additional M$ 100 for $1 USD
• Users cannot cash out

Pros

• (Probably) regulatorily okay
• Easiest to implement
• No crypto = low onboarding friction

Cons

• No financial incentive to participate
  • But still have fun & reputation as incentives

2. Simple Solana contract

3. 2 + Reputation token