Socrates is an innovative platform where users can earn rewards by engaging with thought-provoking questions and sharing their opinions. Whether you’re a crypto enthusiast or someone who loves to engage in intellectual discussions, Socrates offers various ways to earn rewards. In this guide, we will break down the step-by-step process to help you get started and maximize your earnings on the platform.
Getting Started on Socrates
Step 1: Sign Up and Set Up Your Account
Before you can start earning Socrates rewards, the first thing you need to do is create an account. You can easily sign up through the Socrates website or mobile app, which is available on both Android and iOS devices.
How to sign up:
- Use your email address to create an account or connect an existing crypto wallet (such as MetaMask) to get started. You can also create a new wallet within the Socrates platform.
- Once registered, you will have access to the full range of features, including purchasing NFTs, voting on questions, and earning rewards.
Step 2: Purchase Socrates NFTs
To fully participate in Socrates, you need to own a Socrates NFT. These NFTs are essential for interacting with the platform and earning rewards. There are two types of NFTs: the Genesis Pen and the Pioneer Pen. Each of these NFTs has its own earning potential, so choosing the right one is crucial.
You can purchase these NFTs from the Socrates in-app Marketplace or from third-party platforms like OpenSea. The price of NFTs varies depending on the rarity and features of the item.
Step 3: Buy Socrates Points
Next, you’ll need Socrates Points to participate in the platform’s activities, such as voting and creating questions. Each interaction costs a certain amount of points, so it’s important to have enough to stay active.
How to buy Socrates points:
- You can purchase Socrates Points directly within the app.
- The pricing is straightforward: 1 point costs 1 USDT (Tether), so you can buy as many points as you need.
How to Earn Socrates Rewards
Now that you’re set up, let’s explore the different ways you can earn rewards on Socrates.
1. Create a Question (Question Creator Prize)
One of the easiest ways to earn rewards is by creating a question. Socrates values engaging questions, and as a creator, you can earn up to 5% of the prize pool for the question you submit.
To create a question, you will need to spend 0.16 points. If your question generates a lot of engagement, it could become “trending,” which would increase the prize pool and your earnings.
Tips for earning more:
- Make your question thought-provoking and open-ended to encourage active discussion.
- Inject more points to boost your question’s visibility and increase the chances of it trending.
2. Vote on Questions (Discussion Prize)
Voting on questions also makes you eligible for rewards. Socrates splits the Discussion Prize into three stages:
- Stage 1 (Pre-Stage): After 20 users vote, the most popular answers are selected, and the winners are determined by their vote percentage.
- Stage 2 (Voting Stage): This stage is for users who vote on options with a lower voting percentage than the final outcome.
- Stage 3 (Closing Stage): The final stage for voters who vote on an option that ends with fewer votes than when they voted.
The prize pool for each stage is distributed based on the formula and the number of participants.
3. Explain Your Vote (Reason Prize)
Another rewarding way to earn Socrates rewards is by explaining your vote. The most liked explanations are rewarded, and the top 5 most liked reasons share the Reason Prize pool.
How to maximize earnings:
- Write concise and insightful explanations (no longer than 200 characters).
- Engage with the community by liking and commenting on others’ reasons to increase visibility.
4. Like Other Users’ Explanations (Likes Prize)
You can also earn rewards by liking other users’ reasons. When you like reasons under a question option, it contributes to the Mixed Voting Rate, which determines the final distribution of rewards. Liking reasons helps shape the final outcome of the discussion.
How to earn:
- You can like up to 3 reasons per question, with the highest-rated likes sharing the Likes Prize pool.
- The prize is split across three stages: Start Stage, Middle Stage, and End Stage, depending on the timing of your action.
5. Support Questions (Support Prize)
Supporting questions by contributing Socrates points or using your Genesis Pen is another way to earn rewards. When you support a question, you help increase its popularity, potentially pushing it to “trending” status.
How to support:
- Support up to 5 questions per day with your Genesis Pen, or contribute Socrates Points to the question.
- If your supported question becomes trending, you’ll earn a portion of the Support Prize pool.
6. Bonus Packages and Pop Quizzes
- Bonus Packages: Creators can design bonus packages for questions. These packages are distributed among participants, with some users receiving random rewards.
- Pop Quizzes: These are fast-paced, 30-minute questions where users can win rewards by answering correctly. The faster you answer, the better your chances to win.
Additional Tips for Earning More
- Stay Active: Regular participation is key to accumulating rewards on Socrates. Whether you’re voting, explaining, or supporting questions, being active increases your chances of winning.
- Engage with High-Quality Questions: Questions with higher engagement are more likely to have bigger prize pools. Focus on those to maximize your earnings.
Conclusion
Socrates offers a variety of ways to earn rewards, from creating and voting on questions to supporting discussions and engaging with others. By following the steps outlined in this guide and staying active on the platform, you can unlock the full potential of Socrates rewards. Remember to strategically use your Socrates NFTs and points, and always aim to participate in the most popular and thought-provoking questions.