Social Media has a huge problem: which is that it contains malicious actors that create posts that are harmful to the community. We wanted to create a system of rewards and accountability for people who participate in flagging harmful content.
What it does
Probus is a DAO based on the Backfeed protocol that creates tokens (Probos) in proportion to community agents' participation and distributes Probos as a reward to participating agents who employ smart flagging. The Backfeed protocol is a decentralized collaboration protocol that rewards agents by reputation on the blockchain and tokens. Probus will have an initial offering of tokens and then move to a generative model where more participation on the platform will lead to the creation/issuing of more tokens. Smart flagging is done by agents wherein a set number of agents participate in voting on whether a piece of content should be flagged or not. The "winning" agents, or those who are with the majority consensus, are rewarded with Probo tokens.
We thought about using the following technologies for each part of the Probus engine:
Waves Token Creation: Initial offering of Probos Cosmos SDK: Creating a blockchain that would automate issuing based on the Probus protocol. Agoric: Creating smart contracts that distributed Probos based on the outcome of voting oracles.
How I built it
Right now it's in the ideation, building, and prototyping phase. We are still researching the best ways to build this DAO distributed cryptocurrency.
Challenges I ran into
Creating a cryptocurrency is not easy, especially when there are many competing ideas and protocols that you need to choose and be able to justify a reason for.
We tried hacking a new cryptocurrency for the Backfeed decentralized collaboration protocol on the Waves Platform, but! We weren't sure if we wanted a centralized mechanism that controlled the supply of Probos, or if we needed an automated way to burn/issue Probos. We weren't able to find a straight answer for automating a protocol that controlled the supply of Probos, so we didn't go through with actually using the Waves Platform to create our cryptocurrency (even though it was extremely accessible and user-friendly).
Accomplishments that I'm proud of
We worked through a long night and created Probus, which conceptually, is a decentralized autonomous organization that distributes the cryptocurrency Probos (Probo, singular). We explored the different capabilities of current crypto technologies and created parts of a future vision for a decentralized, crowdsourced, calculating engine that can be used to flag malicious content on the web.
What I learned
We learned a TON about tying a social cause to a cryptocurrency.
What's next for Probus
Hashing out the governing details of Probus. Coding Probus. ICO.