Possible Idea: a single point user interface and one stop exchange for reputation/contribution communities tokens (even those SourceCred is not necessarily affiliated with).
Down the road, if there was a hub specifically designed for individual users to interact with all or a large portion of the most prominent community tokens in one place, it would be very useful (maybe call it CredTracker or something less obvious). I can envision this application being its own separate marketplace exchange for individual users that participate in reputation and contribution tracking communities. By pulling the user id from the contribution graph(s) of the SourceCred project(s) they are involved with into one place (not onto sperate sites); @sandpiper mentioned a Metacred in our discord discussion when I asked about it. This would be so an individual could track, trade, and swap their contribution token portfolio in one place. SourceCred seems to be at the forefront of capturing data from multiple applications to drill them down into Cred and therefore Grain. Why not make it a thing for individual users to interact with!
Another mechanism would need to be developed to interact with tokens that Sourcecred does not have a direct relationship with (e.g. reddit’s DONUT). A helpful means of transfer of other off chain tokens would be wrapping the assets that Sourcecred is not directly working with (e.g. possibly through XDAI/Honeyswap). CredTracker Featuring Honeyswap.
#1. What is a wrapped token?
A wrapped token is an asset hosted on the Ethereum blockchain with a price that is the same as another underlying asset, even if it’s not on the same blockchain or on a blockchain at all.
A wrapped token is an ERC-20 token with a value identical to another asset that it represents, either through a smart contract or by being backed one-to-one with the underlying asset.
Wrapped Bitcoin, for instance, is a token worth the same as one BTC at any given moment, as a smart contract algorithm reproduces its price in real time and regulates the underlying fund with supply and demand information gleaned from user transactions. In exchange for their money, wrapped token users get an equivalent amount of value “wrapped up” in an asset that’s more easily mobilized by decentralized applications (DApps).
#2 How do wrapped tokens work?
Wrapped tokens are each backed by an equal amount of the underlying asset or currency — as well as a variety of organizational roles, and algorithmic checks and balances.
DApps can process wrapped token transactions much faster because they aren’t done across multiple blockchains. Users can transact confidently because wrapped tokens’ trustless nature is preserved by a framework that backs each one-to-one with the underlying assets.
The complex model is enough to provide DApp users native access to other cryptocurrencies without burdening both blockchains in the processing of any DApp transaction. One minimal gas fee on Ethereum is all it takes.
Governance over wrapped tokens is typically done by assigning necessary roles to organizations, predominantly custodians who hold underlying assets and mint (or burn) new wrapped tokens as necessary. Merchants provide a medium to wrapped token buyers, while users own the tokens.
Also, if there was some sort of reporting tool for all the tokens you held that would be nice too. When I am using an application or protocal, I’m always impressed and thankful when I have some sort of user-friendly reporting tool dealing with my cryptocurrency. Farms and staking pools could be employed on the hub as well.
This was something I was thinking about and wondered if it was in the works already?