The largest exchange in the crypto market, Binance, has launched the 32nd Launchpad with a surprising name, Arkham, promising to create a new model called DOX to Earn. So what is DOX to Earn? Will it become a trend that leads the market growth like Move to Earn or Play to Earn did?
To better understand DOX to Earn, people can refer to some of the following articles:
- What is Arkham (ARKM)? Arkham Cryptocurrency Overview
- Arkham Floor List Price Prediction After Binance Launchpad
What is DOX To Earn?
The origin of the word DOX comes from “dropping dox”, which refers to the disclosure of personal information or the collection of sensitive information about a person without their consent. This behavior is often considered an invasion of privacy and can lead to serious consequences.
The term DOX to Earn was also born after Arkham introduced a new product called Arkham Intel Exchange and called it Intel to Earn. Arkham Intel Exchange provides users with the following features:
- Allows buying and selling information about an individual or organization’s on-chain activities.
- Allows users with a need for certain on-chain information to offer certain rewards and give it to anyone who finds the information they need.
How Arkham Intel Exchange Works
For buyers
Those who want to find some specific Intel information by staking an amount of ARKM, staked tokens as an initial reward. Once the bounty and claim information is posted to the Arkham Intel Exchange, anyone can add to the bounty by staking an amount of ARKM equal to the original person or greater, which makes the bounty pool available to everyone. an increased information.
If the initial buyer does not want to share their search information with anyone, they can buy back all the shares of later participants for an equivalent amount of ARKM in the pool.
Bounty hunters, after finding all the information, will send it to the exchange for verification and require a minimum stake of 10 ARKM. If the exchange verifies the information correctly and accepts it, the bounty hunter can take all the reward after 15 days of lock-in or withdraw it immediately and lose the 10% fee. If the information is verified to be false, the bounty hunter will be fined 10 ARKM that they previously staked.
To make it easier to understand, we can take a simple example as follows:
- Alex wants to buy information about an investment fund X and reward it on Arkham Intel Exchange for 1000 ARKM tokens.
- Brian is also interested in the information Alex is looking for and stakes an additional 1000 ARKM to the total reward, so if anyone finds X’s information they will receive a reward of 2000 ARKM.
- However, Alex does not want to share the information of investment fund Earning information for the searcher will be 3000 ARKM.
- Criss was the first person to find information about investment fund ARKM stake after 15 days.
For sellers
Someone who believes the information they hold is important and valuable can post it to Arkham Intel Exchange for auction similar to NFT Market Place, they will receive the auction amount 15 days after the auction end.
To submit an auction submission, anyone must stake a minimum of 10 ARKM per transaction and it will be lost if the submission is not approved.
Controversies surrounding DOX To Earn
The launch of Arkham Intel Exchange has created many mixed opinions in the crypto community as it ignores the privacy of blockchain, which has existed since the market was formed until now and since then. that the community changed the name of the Intel to Earn model to DOX to Earn.
What makes the community even more excited is that the Arkham platform is supported by two companies specializing in AI, Palantir and OpenAI. In particular, Palantir has worked with two other government security organizations, the CIA and the FBI, thereby causing the community to worry about being managed by these organizations.
A model that is too new is also an obstacle when the platform needs to have a strategy to attract and guide users to use its platform properly, avoiding excessive token inflation.
In addition, Arkham also faces many obstacles when there are still many unresolved issues such as:
- Accuracy of information: There have not been any criteria given by Arkham to evaluate the accuracy of the information that users sell on its platform.
- Great competition: Although the Intel to Earn or DOX to Earn model is very new, it directly affects large parties like Nansen, will such large companies let this model develop?
Development Dynamics of DOX To Earn
The biggest growth driver for DOX To Earn is the involvement of government organizations in the crypto market. They can use Arkham Intel Exchange for the purpose of tracing their citizen’s on-chain activities and then taxing them.
The participation of government organizations is not as bad as the majority of the community thinks when they can, through Arkham Intel Exchange, trace the whereabouts of hackers, thereby minimizing the damage of hacks.
Investors’ demand for on-chain in general will increase as the market recovers and grows strongly in the upcoming cycle, their only desire is to find exchanges with high winning rates from there. Buy and sell to make a profit.
An operating model around the ARKM token is also something that could make DOX to Earn go mainstream when:
- ARKM is used as a token to serve as the main currency for Arkham Intel Exchange.
- The increased demand for buying and selling information on-chain causes users to buy and hold ARKM to receive reduced transaction fees.
Is DOX To Earn Exploding Like P2E Or M2E?
To speculate whether DOX to Earn may explode in the future, we will look back at the P2E and M2E booms:
- Play to Earn: Booming thanks to the increase in the price of governance tokens and in-game tokens, the demand for buying NFTs to play games for profit also increases, thereby continuously attracting new people with the thought of being able to Payback in a short time.
- Move to Earn: Basically, Move to Earn’s operating and booming model will also include 3 main components: governance tokens, game tokens and NFTs similar to GameFi when promising to help investors return to their shores. as profitable in a short time.
The operating model of DOX to Earn in Arkham Intel Exchange will not have additional tokens as rewards for participants, but all activities will revolve around ARKM from trading, paying fees, paying rewards,…
Rewards for bounty hunters and information sellers are locked within 15 days after a contract is completed or can be withdrawn immediately by paying a 10% fee. So the decisive factor for this model to develop is that ARKM’s price either does not decrease more than 10% or grows higher than the initial level within the 15 days of being locked, creating motivation to keep users on the platform.
Summary
Above is the necessary information to understand what DOX to Earn is? Weakhand hopes that through this article, everyone will find useful information for their research process.
