1. Can you briefly introduce the project in a few sentences?
The KNOW TO EARN project is based on the high performance Internet of Things blockchain IoTex. We’re aiming to become the world’s largest knowledge base on blockchain as well as the main blockchain training academy that rewards users in the form of our native tokens through learning and answering questions, quizzes and tests. And through the unique meta-pebble technology of the IoTex blockchain, the "Travel Learning Program" is created, in which, the user is authorizes to provide his genuine updated geolocation data to check in while travelling and completing his studying program on the go. The question bank of the knowledge base has been opened for all users to participate and nearly 20,000 knowledge records have been accumulated so far.
In addition, KNOW TO EARN returns up to 70% of project revenue to users. I hope that everyone can make money while learning and increasing their knowledge on blockchain tech.
2、Why do you want to do this "blockchain knowledge base" project?
We come from a background of education and blockchain tech. We started this project because we see a huge future potential in the blockchain tech (countries and nations are embracing cryptocurrency) and also the lack of mass adoption at the same time. We don’t want to only teach people on how to speculate coins. We aim to build a massive database of blockchain educational content in order to lay a solid foundation on blockchain tech by creating a blockchain learning academy.
But the problem is, learning is actually counter intuitive to most people. By default, the majority of the population is compelled to learn only out of necessity (like children going to school), motivated by potential rewards, or to fulfill workplace conditions. Otherwise, most of us will not take the initiative to educate ourselves. Therefore, we launched this project to encourage people to earn while they learn (checkout our whitepaper).
Another reason to starting this “Learn & Earn” model is because we believe that learning should have a low barrier to entry and be fairly spontaneous just like walking (Stepn) and eating. The knowledge base provided can really help the education of the users and improve their understanding of blockchain tech. The knowledge gained is not limited to coin speculation alone but will also prove to be highly beneficial to their daily activities and work.
I actually wrote an article on this subject before and talked about it in the white paper. Everyone interested can have a look at it.
3、What is the current status of the project?
Since our project launch 4 months ago, the price of our native token “KNOW” has increased more than 20x but has since retraced 4x from the all time high. There are more than 600 known wallet addresses holding our coin and there are 400 users across three communities in Chinese, English and Vietnamese. Our Dapp has been launched and listed the the native IoTex wallet, Iopay and is currently listed under the DeFi and MachineFi categories.
After this AMA event, the public beta version of the Dapp will be officially released and users can then start earning by answering questions and staking to earn rewards.
- Why did you choose to publish your project on the IoTex blockchain?
A few reasons.
One of it is that I am a big fan of the IoTex chain and have been a long time hodler. As such, I feel attached to the IoTex chain, team and community.
Secondly, I think the IoTex chain is currently in a period of rapid development, where various ecosystems are slowly emerging and the official support given is relatively strong. Although it seems that the bsc chain has more users, I think that the IoTex chain holds the best opportunity for the project now.
Furthermore, I‘m not sure if you have noticed that, in fact, the communication between users of the IoTex chain is relatively pleasant and the discussions on investments is relatively rational. Most users plan hold iotx for the long haul and are optimistic about the future developments. I’d say that the overall user quality is relatively high and is great for our project.
Our decision to launch our project on the IoTex chain has proven to be a wise one.
In addition, the most important reason is that we plan to create a studying travel program, which requires users to authorize the uploading of data to be verified on chain. At present, only iotex has the best solution (integrating with the pebble tracker or meta-pebble). Just the thought of this makes me excited.
5. Can you elaborate on your product design in the machinefi scenario?
As you know, IoTex innovatively solves the problem of credible off-chain data up-chain in IoT. This means that there will be trillions of opportunities for machine finance. Because the user's data can be used to earn rewards given by projects after being credibly uploaded to the chain with the user's authorization. One of the most intuitive scenarios is that you can authorize your trusted geolocation data to prove where you have been at what time.
Based on this, we have created a "travel learning program" where users can customize their own travel learning itinerary or participate in the travel learning program by following our designated travel learning itinerary and receive rewards.
In China, there is an old poem that says, "Read ten thousand volumes of books and travel ten thousand miles". This means that learning and gaining education on the road while travelling is just as important as reading in a library or at home .
6. Can you tell us about the team?
Our team is currently made up of 6 people, excluding community admin volunteers. The frontend and contract backend team members and I are all experienced blockchain and Internet users. All of us are Chinese. We previously had long term work experience in the blockchain and financial fields. You can also see that the team's economic model design can only be completed based on rich past experience as detailed in our whitepaper.
For obvious reasons, please understand that we cannot disclose our identities.
7. What is the specific gameplay and how to learn to make money?
Simply put, by enrolling as a student, users can participate by learning and answering questions to earn “KNOW” token rewards.
The student status has a validity period. If you want to continue your studies, you will have to pay to continue your enrolment as a student.
You can also purchase additional learning kits to improve learning efficiency (randomly increase mining capacity).
In addition to learning, users can also participate in knowledge creation. Anyone who participates in knowledge creation and is approved by the node will receive a bonus in (IOTX).
Of course, you can also obtain dividends and governance tokens by adding and staking KNOW/IOTX liquidity, mining to obtain dividends and governance tokens: KNOWI. And after staking KNOWI, users can get up to 30% dividends.
8. How to participate in the creation of knowledge?
Participate by submitting questions and answers to earn up to 20% in dividends!
Our mission in building the world's largest blockchain knowledge base is inseparable from everyone's participation. Once your submission is selected into the "know-to-earn" question bank, you can earn up to 20% of the project income distribution.
How to participate in the creation of knowledge?
We are still in the early days of the establishment of the knowledge base, so almost anything in regards to all aspects of the blockchain tech can be submitted and published. A simple example would be adding knowledge and content such as "what is iotex". Don’t hesitate and start building your own knowledge question bank right now. Just make sure that the content submitted is correct and blockchain relevant.
9.How to become a review node and what are the requirements for a node?
As a node, you need professional blockchain knowledge (you don't need all of them, you can be an expert in a certain field of blockchain), and you need to spend a little time every day to review the knowledge submitted by users. In return, you can earn up to 5% in dividends.
Apply to become a node ：https://activity.knowtoearn.io/node/
10、What is the design of the economic model of the entire project?
10.1. The core goal of economic model design
The economic model must be able to solve the ecological business closed loop of each participant
Knowledge creators improve themselves through creation, learners increase cognition through learning
10.2. Dual Token Design
KNOW as a learning reward token; KNOWI as a dividend and governance token.
When users add KNOW/IOTX liquidity and stake it, they can get KNOWI which can then be used to participate in project governance and get up to 30% dividends (KNOWI can only be obtained in this way).
Not only can the dual-token design provide liquidity for the project, but also stabilize the price of KNOW.
The mining output of KNOW follows the following logics:
- Only those with valid student status can learn to mine;
- The output of KNOW tokens is dynamically adjusted in real time according to the price change of KNOW. The lower the price, the greater the output, and the higher the price, the less output. At present, the annualized rate of return is set to 1200%. Based on this rate of return, the system will give different real-time mining output according to the real-time price of KNOW.
Several issues are addressed here:
Because the price of KNOW tokens has fallen, the user's learning and mining income has become unstable;
Balance the interests of whale players and ordinary players (buy more student status, the output of KNOW decreases linearly)
Constrains bot players as much as possible.
Daily pk contest, the accumulated KNOW will be burned.
Answering the question incorrectly will consume KNOW and be burned.
Take out 5% of Iotx from the dividend pool through the official to buy back KNOW and destroy it
A 10% service fee is charged from the KNOW generated by the user's mining, and these KNOW are also burned.
More games and in-app purchases that is going to be launched one after another will consume KNOW, and these KNOW will eventually be destroyed
10.5、Dividends and DAO Governance
Source of income (iotx)
20% of Genesis NFT income goes into the dividends pool
100% of student status income goes into the dividends pool
100% of the learning kit income goes into the dividends pool
Distribution ratio of dividend pool (iotx)
Genesis nft holders 5%
Governance token KNOWI stakers 30%
The top 75 winners of the daily pk contest 5%
Used to buy back KNOW and burn
Project side 30%
team operation/project development/marketing/liquidity
Users who hold KNOWI participate in the governance, and the details need to be improved.
More pls see the whitepaper:
11、What is the plan for the project in the near future?
Develop daily contest events
Develop more games and store features
Develop a meta-pebble-based "travel learning program" function
12、Does the project have financing plans?
No financing before this.
An application will be submitted to IoTex's halo grants ecosystem fund in the near future
13、How is the team's marketing plan planned?
Contact more blockchain communities for promotion (Vietnam, Malaysia)
Knowledge base-based search engine seo promotion.
Please don't be surprised when u find KNOWTOEARN's blockchain knowledge base in Google, Bing, Yahoo and other search engines.
In fact, at present, our knowledge base entries have been included in a large number of search engines such as Google, and many keywords have been ranked on the first page of Google.
the English version of the blockchain knowledge base is: https://nft.knowtoearn.io
the Chinese version of the blockchain knowledge base is: https://nftcn.knowtoearn.io
what does that mean?
It means that we can bring web2.0 (Google search users) users into the web3.0 scene.
When these users search for our knowledge base entries, we will guide them to join the IoTex blockchain and become a learner, of course, a knowledge creator, or an investor.
14、Does the project plan to be listed on a centralized exchange?
There's definitely a plan for this. Listing on a centralized exchange is a performance recognized by the market, and it can also provide users with more liquidity.
As we all know, it is not easy to get listed on the more well-known exchanges. We also don't want to be listed on a small exchange that we haven't heard of.
So we do not make promises, so as not to mislead the user's decision. Our expectation is within a year.
15、How do you view the current cryptocurrency market environment?
Although the current market may be in a downturn, we are still full of confidence in the future of the blockchain, the future of IoTex, and the future of the KNOWTOEARN project.
I don't know how far KNOW will go in the future, but what I can tell you is that we will last at least 3 years. While finishing a bull and bear cycle, we will complete the accumulation of the knowledge base. In 3 years’ time, we will at least accumulate millions of knowledge base entries. And we aim to get at least thousands of new users through web 2.0 such as Google searches that lists our knowledge entries. When the time comes, I believe that the KNOWTOEARN project will surprise all of us.
16、As exciting as it sounds, what can users do now?
Buy KNOW: https://mimo.exchange/#/swap?outputCurrency=0x515343ed04b054d098a0c15cbd7f98b0250d0b38
Buy Genesis NFT and get dividends:
https://marketplace.sumotex.co/ Select "KNOW TO EARN"
STAKE KNOWI to get dividends:
By adding KNOW/IOTX liquidity, you can mine to obtain KNOWI, mortgage KNOWI, and get dividends.
Participate in knowledge creation for free and get dividends:
Apply for free to become an audit node and get dividends:
Participate in answering questions and get KNOW rewards:
17、How to join the community?
18、Where is the entrance to the DAPP public beta?
19、Are there any public beta player guides?