The top crypto exchange by volume supports an “intel-to-earn” cryptocurrency project that lets users buy and trade on-chain crypto data.
According to a recent press release from the company Arkham (ARKM), the native token of an intelligence market where users may set bounties on specific pieces of information, is now supported by Binance.
On July 11th, the altcoin was made available on the Binance Launchpad, a platform designed to support emerging blockchains.
In a lengthy discussion, Arkham claims that the creation of the information exchange was motivated by the company’s observation that both the need for on-chain analysis and the number of sleuths with the necessary skills have increased.
The crypto company continues by describing how the marketplace functions for both buyers and sellers.
“By posting bounties, buyers on the Arkham Intel Exchange ask the public for intelligence. Bounty hunters claim them in exchange for prizes by providing the needed information.
On the other hand, anyone with valuable information about a wallet or its owner can sell that information for sale to other users via an auction or a buy-it-now price. By creating a liquid market for knowledge, this enables on-chain sleuths to scale up the monetization of their effort, or “intel-to-earn.”
For 90 days, information buyers will get exclusive access to the intelligence they paid, according to Arkham. The information is then made visible to all users.
“Buyers advertise bounties, asking for information on anything they’d like to know. Bounty hunters claim these bounties by responding to them with intelligence. The acquirer will hold all Intel purchased and sold on the Intel Exchange solely for a period of 90 days.
Then, it will be distributed to all users. This provides the buyer some time to get the most short-term value out of the intelligence. While preserving long-term community decentralization of on-chain information.