BUIDLing communities is hard!
Introducing Bonded Communities with Protea for physical (meetups) and digital communities. An ecosystem to curate and incentivize the growth of communities with curation markets.
- Bonding your community on value and reputation using token bonding curves.
- Get people to really contribute value by staked events contracts and show up to your community events.
- Funding for common goals & initiatives. Showcasing the value and trade attention in your community.
What it does
Allows you to deploy a bonded community:
- An organizer deploys a new bonded community (token bonded curve backed by DAI or ERC20s like SNT or MKR). She defines simple parameters (curve, price & supply) and stakes collateral (e.g. $100) into the bonded community and receives the first tokens.
- Members join and stake DAI (e.g. $5) and receive community tokens.
- As more members join, the community value grows, early members are rewarded.
- CAT (Community Added Tax) taxes are collected on all purchases (e.g. 10% for a total $10.5) and collected in a Reward Manager Contract.
- Incentivizes #hodling, disincentivizes PnD! Early community members are rewarded.
Allows you to organize events and track reputation:
- Organizer deploys first her event contract, members stake tokens to attend.
- If members attend, receive tokens back and receive reputation points. If members don’t attend, tokens go to community. Extra rewards to incentivize good behaviour are distributed via rewards manager.
- Early community members are rewarded and incentivized to get more people to join.
- All members vote with their feet! Sell tokens if governance isn’t good, if events aren’t good, buy if it’s the opposite.
How we built it
Protea was built using NuxtJS, Solidity, and built for DAI and deployed on Netlify + Ethereum network. It is intended to be used within Status as a dApp with web3 integration - Status provides transaction signing.
Challenges we ran into
- Bonding curves are HARD! Lots of math is needed, and is even harder to decode in Solidity.
- Many tools don’t fully work yet or are in early stages. Experienced issues with Dapptools, Universal Login, POA and many more, but learnt so much and
Accomplishments that we're proud of
- Deploy a live bonding curve, backed by a stablecoin using DAI!
- Figured out a simple taxation mechanism to create funding mechanisms in bonding curve
- Built a fully mobile interface using Status that can be used at real meetups
- Figure out an incentive mechanism for communities that causes more participation!
What's next for Protea
- Want to refine the bonded community metrics, wire up a better events contract
- Test the architecture and front-end in a real community! Want to start with EthMagicians