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I'm always wary of how such systems can be gamed and how they'll influence user behavior, but the only downside to trying is your own efforts. Even if you fail miserably, I imagine the exercise itself would improve our understanding of what works, what doesn't, and how to form better approaches in the future. To succeed in making a system which improves user interactions would be a truly wonderful thing, and may even translate to IRL applications. I would urge you to follow through with this for as long as you feel it's something you'd like to do.
Yeah those are basically my thoughts too lol. Even if it ends up not working out the process of trying it will still be good since it'll give me more experience. Those aspects you're wary of are also definitely my 2 biggest concerns too. I think (or at least hope) that with the rules I'm thinking of for how trust is generated it would mostly positively effect behaviour? I'm imagining by "rewarding" trust to recieving positive replies, combined with a small reward for making positive replies in the first place, it would mostly just lead to more positive interactions overall. And I don't think I'd ever want a system like this to punish making a negative reply, only maybe when getting negative replies in response, since hopefully that prevents people wanting to avoid confrontation of harmful content in order to avoid being punished. Honestly it might even be better to only ever reward trust and never retract it except via decay over time, but that's something worth testing I imagine.
And in terms of gaming the system I do think that's kinda my bigger concern tbh. I feel like the most likely negative outcome is something like bots/bad actors finding a way to scam it, or the community turning into an echo chamber where ideas (that aren't harmful) get pushed out, or ends up drifting towards the center and becoming less safe for marginalized people. I do feel like thats part of the reason 196 would be a pretty good community to use a system like this though, since there's already a very strong foundation of super cool people that could be made the initial trusted group, and then it would hopefully lead to a better result.
There are examples of similar sorts of systems that exist, but it's mostly various cryptocurrencies or other P2P systems that use the trust for just verifying that the peers aren't malicious and it's never really been tested for moderation afaik (I could have missed an example of it online, but I'm fairly confident in saying this). I think stuff like the Fediverse and other decentralized or even straight up P2P networks are a good place for this sort of thing to work though, as a lot of the culture is already conducive to decentralization of previously centralized systems, and the communities tend to be smaller which helps it feel more personal and prevents as many bad actors/botting attempts since there aren't a ton of incentives and they become easier to recognize.