logoEveripedia (IQ)

A Decentralized Encyclopedia with Built-in Prediction Market.
  • Everipedia was founded in 2014 as a decentralized alternative to Wikipedia. Compared to Wikipedia, the platform allows unrestricted topics, a broader range of citation sources, and a content review process that enables more users to participate.
  • Everipedia has also launched PredIQt, a decentralized prediction market, which enables users to predict the outcome of future events.
  • The IQ token is the utility token used both in the Everipedia and the PredIQt ecosystem. Users can stake IQ to have the ability to edit Everipedia topics and articles; they can also use the IQ token in PredIQt to bet on future events and earn rewards for accurate predictions.
  • On August 9th 2018, Everipedia was launched as a decentralized application on the EOS blockchain. Since then, 51% of the total IQ token supply has been airdropped to EOS holders.

1. What is Everipedia (IQ)?

Everipedia is a community-governed knowledge and information platform powered by the EOS blockchain, where anyone can participate in sharing what they know and providing value to others. Everipedia allows users to create pages on any topic as long as the content is properly referenced and neutral.

To make a sustainable and decentralized knowledge platform, the Everipedia team introduced a three module system, consisting of a token module, a governance module, and an article submission module. The governance module allows for submitting changes to the community of token holders for approval, the token module is responsible for making changes to the token balances of addresses, while the article module is used to propose edits to be included in the database.

Furthermore, Everipedia has introduced a decentralized prediction market named PredIQt, where any user can create markets on any future event. Users can also purchase and trade shares in the outcomes of those events.

In Everipedia, users are required to stake IQ tokens to propose edits, vote on edits, and propose/vote on network governance actions. In PredIQt, the IQ token is required for payment in the prediction markets, staking for resolving the outcome of markets, and paying all system-wide trading and creation fees for new markets.

Recent news

2. Existing products

2.1 Everipedia

Everipedia aims to build the most accessible online encyclopedia, and not be as restrictive as Wikipedia. The name Everipedia derives from “everything” and “encyclopedia”.

Everipedia is similar to a peer-to-peer Wikipedia network that relies on the EOS blockchain technology and features a cryptocurrency token called IQ to incentivize editors for content generation with tokens that have a legitimate monetary value. Being a peer-to-peer network, it also gives them the ability to stop geographical censorship of its content. Everipedia launched on the EOS blockchain on August 9th 2018.

Everipedia

2.2 PredIQt

As described in its whitepaper, PredIQt is a prediction market protocol that features three classes of users:

  • Participants: they purchase or trade shares to take positions in the prediction markets. Afterward, the IQ is kept in the market smart contract to pay out to winners.
  • Resolvers: they review markets by reporting the outcomes of various markets. Resolvers stake IQ to resolve markets and earn resolution fees.
  • Creators: they establish new markets by paying a market creation fee, denominated in IQ tokens. This fee serves as an anti-spam mechanism, preventing users from creating markets that are superfluous or unresolvable. When a creator pays the market creation fee, these IQs are burned. The creator earns a small creator fee from the market’s total IQ pool (i.e., the more volume a market ends up having, the more the creator is rewarded).

Hence, IQ is the utility token that powers the needs for all three different classes of users. Below is the graph for growth of new markets created since the launch of the final PredIQt 2.0 product and the total volume growth of all IQ used to purchase shares.

PredIQt

PredIQt

Source: Everipedia Management Team.

For more info on PredIQt specs, users can read the FAQ

2.3 Future planned products

PredIQt Earn

PredIQt Earn is a money lending market similar to Compound.Finance on Ethereum. This lending market allows users to deposit tokens to earn interest or borrow tokens and pay interest. It enables individuals to borrow IQ tokens locked in prediction market contracts so that the idle IQ that sits in the prediction markets can accrue interest and increase payouts for participants. PredIQt Earn also allows users to earn interest on IQ tokens they have used to purchase prediction market shares while the market is open for long durations.

PredIQt Smart Assets

PredIQt Smart Assets allows anyone to collateralize IQ tokens to generate synthetic assets such as iqUSD, iqOIL, iqBTC, and others. These "smart assets" can then be traded, lent, or borrowed through PredIQt Earn as well as held for exposure to a customized basket of assets.

By participating in exotic prediction markets on real events with smart assets hedging, any user can build a basket of custom exposure to a wide array of investments.

3. Technical infrastructure

Everipedia and PredIQt are decentralized applications (dApps) powered by the EOS blockchain. The contracts are all written in C++, compiled to WASM, and deployed to the EOS mainnet.

The Everipedia dApp is a decentralized knowledge database where holders of the IQ tokens can stake, create content and curate other editors’ content. The approved content and majority vote curators earn part of the IQ reward every 30 minutes.

The PredIQt platform is a prediction market with additional DeFi functionality. The platform tokens (i.e., IQ tokens) are used to buy shares, pay fees, and stake on market outcomes. All parts of the IQ token ecosystem will be utilizing EOSIO smart contracts, front-end web application technology, and the InterPlanetary File System (IPFS).

To maintain a sustainable and decentralized knowledge platform, the Everipedia team introduced a three module system, consisting of a token module, a governance module, and an article submission module.

The governance module allows for submitting changes to the community of token holders for approval, the token module is responsible for making changes to the token balances of addresses, while the article module is used to propose edits to be included in the database.

Technical Source: Everipedia Technical Whitepaper

3.1 Token module

The token module is responsible for making changes to the token balances of addresses by transferring tokens, applying transaction fees, minting tokens, and locking tokens for the article consensus process.

IQ tokens will be minted every 30 minutes through the edit and curation process. Votes of token holders will decide if proposed edits shall be approved and the editor be rewarded with IQ tokens. At the end of the 30 minute IQ reward period, editors will receive IQ rewards in proportion to the value of their contributions. These minted tokens can be partially re-allocated by a governance action for a developer fund, bounties, or any other use case. In the event where no edits or votes are made in a specific 30-minute period, no IQ will be rewarded in that period.

3.2 Governance module

Governance actions can modify the specifications in any of the three modules, but not the databases containing token balances and articles.

The governance module allows for submitting changes to the community of token holders for approval, and deploys these changes once approved. This allows for the community to come to participate in setting the rules that govern the entire network. Discussion about governance actions can take place off-chain on social media and other communication hubs, but deployment of new code will be carried out on-chain.

3.3 Article module

The article module is used to propose edits to be included in the database. Proposed edits contain IPFS hashes pointing to the immediate parent versions, and IPFS hashes pointing to the new version.

Articles will be stored as gzipped HTML files, as using the HTML document object model allows for high compatibility of possible front-end combinations for the data which is retrieved from the network. By using HTML, any developer can create a front-end interface to display articles in customizable manners, submit edits, and analyze data inside the document. Designated HTML attributes will be used to mark specific portions of articles, so that all front-end software can easily detect standard sections of an article.

4. Token sales and economics

The Everipedia project and its investors retained 49% of the initial 10 billion IQ tokens and distributed the remaining 51% to all EOS token genesis balances soon after the EOS mainnet launch. This 51% token airdrop was conducted on July 12th 2018. The company received equity funding of 30.00 MM USD from EOS VC to build out the Everipedia and PredIQt ecosystem.

The IQ tokens which are held by the team and investors will be vested with a quarterly release schedule, whose description can be found here. Vesting will start from May 4th 2020 and end on August 4th 2022.

IQ is an inflationary token, which is minted every 30 minutes through the edit and curation process. There will be a fixed amount of tokens minted each day. The amount will be reset every day at 00:00 UTC.

4.1 IQ token overview and use-cases

The current and planned use cases of the IQ token include:

  • Staking for editing Everipedia articles and voting/curating new articles.
  • Staking for earning interest from PredIQt-Earn.
  • Rewards for contributions and proper curation of Everipedia.
  • Paying market creation fees, trading fees, and paying or earning resolution fees on PredIQt.
  • Governance voting for platform upgrades and DeFi products.
  • Collateralization for creating synthetic assets (IQ Smart Assets).

The project team also plans to conduct a quarterly IQ token burn, using part of the revenue earned from Everipedia and PredIQt.

5. Project team

Sam Kazemian
President
Cofounder and CEO of frax.finance, Guest Lecturer at UCLA.
Theodor Forselius
CEO
Managing Partner at Distributed Machines, Strategic Advisor at AVO Nordic, former CTO at Mobafy.
Suchet Dhindsa Salvesen
COO & CFO
Cofounder of SeMinBolig. Product manager for Conax, Product manager for Get AS.
Travis Moore
CTO
Former Senior Business Analyst at Anthem.
Kedar Iyer
Lead Developer
Software engineer with experience in satellite systems, autonomous robotics, and blockchain technologies.
Christian Deciga
Co-founder, Executive editor and community lead
Cesar Rodriguez
PredIQt Lead Developer
William LeGate
PredIQt Division Lead
Dawson Botsford
Everipedia Full Stack Developer
Richard Gee
Full Stack Developer
David Liebowitz
VP of Business Development
Navin Vethanayagam
Consultant for Web Traffic
William Goodwin
Community Manager
Roberto Dobrescu
Business Developer

6. Roadmap, updates, and business development

6.1 Original roadmap and achievements

Planned DateMilestoneActual DateTimingComments
2018: Q4Token airdrop and launch of Everipedia on EOS2018: Q3EarlyArticle
2019: Q2Launch of PredIQt Alpha2019: Q1EarlyMedium
2019: Q2Launch of Everipedia 2.02019: Q2On TimeMedium
2019: Q4Launch of Everipedia IQ Fund2019: Q4On TimeIQ Fund
2020: Q1Launch of PredIQt 2.0 and 2020 roadmap2020: Q1On TimeArticle

6.2 Updated roadmap

2020 Q1

  • Release of user-generated market updates.
  • Release of UI updates.
  • Release of PredIQt.js library for embedding markets.
  • Release of PredIQt API updates.
  • Release of PredIQt Data Dashboard.
  • Launch of Everipedia Twitter integration.

2020 Q2

  • Release of PredIQt additional oracle support.
  • Release of PredIQt multi-language support.
  • Release of Everipedia Onboarding System, Editor Tool, and Censorship Resistance improvements.
  • Release of Host-Target Interface ("HTIF") Linux driver for Roll-ups.

2020 Q3

  • Release of PredIQt-Augur crosschain features.
  • Release of PredIQt stableoin, multi currency markets, and additional wallets.
  • Release of Everipedia page creation wizard, notification System and economic model improvements.
  • Launch of PredIQt-Earn and leveraged markets.

2020 Q4

  • Launch of PredIQt Smart Assets.
  • Launch of additional trading features on PredIQt.
  • Launch of Everipedia Curated Lists.

6.3 Commercial partnerships and business development progress

  • Brave: Brave is a privacy-focused browser that rewards users for watching ads; Everipedia and Brave announced a co-marketing partnership to help feature unique Brave Creators and recruit editors for Everipedia.
  • AIKON: AIKON is an identity as a service platform that is building products that allow users to easily interact with different blockchains. Through AIKON’s flagship product OREID, users of Everipedia can sign up via email or social media accounts.
  • Token Pocket: Token Pocket is a multi-chain wallet and dApp portal. Token Pocket and Everipedia are working together to improve access and usability to the IQ ecosystem through free EOS resources, known as CPU, listing IQ on Token Pocket’s FlashLoan service, and more.
  • Hacker Noon: Hacker Noon is a technology publication that has a community of contributors writing about AI, crypto, coding, startups, and more. Hacker Noon and Everipedia announced a partnership to highlight prominent Hacker Noon contributors and unique Everipedia pages.
  • Excision: Excision is an electronic music producer and DJ that headlines festivals and shows around the world. Everipedia and Excision teamed up on Excision’s Spotlight Artist of the Day Series and for every artist that was featured.
  • GIVE Nation: GIVE Nation is encouraging financial literacy and philanthropy for children through their mobile GIVE app. GIVE Nation and Everipedia are working on a co-education partnership together that will utilize Everipedia’s database.
  • XYO: XYO is building a decentralized network of devices that anonymously collects and validates geospatial data. XYO and Everipedia teamed up to create a community-curated geospatial database.
  • Arweave: Arweave is building a decentralized storage solution. Everipedia partnered with Arweave to store all of Everipedia’s information on Arweave for perpetual access and storage.

7.Everipedia's activity and community overview

7.1 Development activity

7.2 Social and community data

Everipedia aims to attract community members that want to share knowledge from across the globe. Current language support includes English, Mandarin, Korean, and Spanish. The project will gradually support more languages as it expands.

Current community growth strategies of Everipedia and PredIQt include:
  • Deploying additional incentive schemes for contributors.
  • Optimizing work-flow for article contributions.
  • Maintaining convenient support services to retain contributors.
  • Running local community manager program in all countries with language support.
  • Collaborating with library associations and educational institutions to attract editors.
Future community growth strategies of Everipedia and PredIQt include:
  • Expanding on language support
  • Launching leveraged prediction markets
  • Conducting trading competitions
  • Allowing synthetic asset and prediction market shares trading on partnered exchanges
  • Launching lending interest rate yield and savings promotions
Community and social channels (data as of June 18th 2020)

Twitter (English) | 110.9K Followers
Telegram (English) | 4.3K Members
Telegram (Korean) | 1.0K Members
Telegram (Spanish) | 63 Members
Telegram (Italian) | 87 Members
Reddit (English) | 2.6K Members
Facebook (English) | 1.1M Followers

8. Appendix

8.1 Documents

8.2 Advisors

  • Mike Novogratz (Founder of Galaxy Digital, former Partner at Goldman Sachs)
  • Mucker Capital (Seed Investor of Everipedia)
  • Stephen Moore (Economic Advisor to the President of the United States, 2019 Nominee to the US Federal Reserve)
  • Zack Exley (Chief Community Officer and Chief Revenue Officer at Wikipedia)
  • Larry Sanger (Cofounder at Wikipedia)