The world’s largest crypto exchange platform by volume announces support for a new “intel-to-earn” altcoin project that allows users to buy and sell crypto data on-chain.
In a new company announcement, Binance say that it will roll out support for Arkham (ARKM), the native token of an intelligence exchange where buyers can place bounties on specific pieces of information.
The altcoin was released on July 11 on the Binance Launchpad, a platform created to support blockchain startups.
In a long thread, Arkham say the intelligence exchange came about because the company noticed an increase in both the demand for on-chain analytics and the number of sleuths that can provide it.
The crypto company goes on to explain how the platform works for both buyers and sellers.
“Buyers on the Arkham Intel Exchange ask the community to post information through bounties. Bounty hunters claim them by submitting the requested information to earn rewards.
Conversely, anyone with valuable information about a wallet or its owner can offer that information for sale for a buy-it-now price or via auction to other users. This creates a liquid market for information, allowing on-chain sleuths to monetize their work scale: ‘intel-to-earn.’”
According to Arkham, information buyers have exclusive access to the information they purchased for 90 days. After that, the data becomes available to all users.
“Buyers are asking for information by posting premiums and asking for information on anything they want to know. Bounty hunters claim these bounties by submitting information in response to them. All Intel purchased and sold on the Intel Exchange remains the exclusive property of the acquirer for 90 days.
It is then passed on to all users. This gives the buyer time to extract as much alpha as possible from the information in the short term, while ensuring the long-term decentralization of on-chain knowledge to the community.
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