The core idea of this project is that people use tokens as voice credit to buy vote in order to decide whether the smart contract mints new tokens to reward the sponsor and the participants of the proposal. The use case of this project is not for the internet community but for the local living in reality. Besides, it's not a business model to earn profit. The purpose of this project is dedicated to facilitating the supply of local common good by means of rewarding the provider with tokens. The nature of this project is decentralized and altruism, so the first genesis proposal for voters to vote is the reward system itself, which means the man who deploy this contract can get the reward from the first proposal if there are voters passing it.
There are 3 roles playing in this game.
- sponsor: the person who registries a proposal and has a right to start voting period and waits to get the rewards or nothing.
- participants: people who join the proposal by casting some token into the contract and wait voting result to get doubled reward or the contract may shrink the principle when the proposal is rejected.
- voters: people who can get 2000 free token to vote for or against the proposal, or do nothing to cumulate token for voting proposal in the future.
People vote to agree or disagree whether the sponsor or participants can get some tokens minted by contract, and the voting way is called Quadratic Voting(QV). In the contracts, 1000 tokens equal to 1 voice credit. In QV system, You should use 1 voice credit(1000 tokens) to buy 1 vote, 4 voice credit(4000 tokens) buys 2 votes, and 9 voice credit buys 3 votes, and so on.
So the question is that how much tokens sponsor or participants get from the successful proposal?
When the proposal succeeds, sponsor can get tokens, and in contrast, sponsor get nothing.
For the participants, he must transfer P token to the proposal of the contract, when the proposal succeeds and the ratio of voting result is pros to cons, he can get tokens.
Otherwise, If the proposal is rejected, he would get
tokens.
The idea of this project mainly come from three inspiring masterpieces. The first one is a French documentary film named Tomorrow directed by Cyril Dion and Mélanie Laurent in 2015. Their beautiful vision about local living economy and complementary currency are appealing to me.
The second one is Ethereum and its community. There are many creative ideas like Call-out assurance contracts by Vitalik, HumanityDAO, Writing a Dominant Assurance Contract by Program the Blockchain, the idea of token curation markets, A Risk Redistribution Standard for Practical Cryptocurrency Payment by Hu Yao-Chieh & Lee Ting Ting, and of course the decentralized philosophy of blockchain.
Finally, it's an excellent book about political economy named Radical Markets written by Eric A. Posner & E. Glen Weyl. The idea of Radical Democracy in chapter 2 actually enlightens me to come up with the idea of markets in public goods.
There are more good works inspiring me on the internet or in my life I didn't referred, I just listed some of the important ones, and hoped the project can also inspire you to some degree.
React
Typescript
Django
Laravel
Facebook
Microsoft
Google
Alibaba
D3
Tencent