SourceCred

SourceCred ERC-20 Token and/or DAO

SourceCred ERC-20 Token and/or DAO

Initiative Description:

Research the feasibility of minting cred and/or mana on Ethereum. Could be a stand alone ERC-20 contract or an Aragon DAO. The nice thing about an Aragon DAO is that it comes with a nice user interface and they’re easy to deploy/manage.

Benefits:

Self sovereign custody of cred/mana.

Transparency into current and historical cred minting and distributions.

Mana price discovery via Uniswap and/or Aragon Fundraising.

Implementation plan:

Determine how cred/mana is minted/managed today.

Determine how to upgrade that to a transparent and security blockchain mechanism.

Build a prototype.

Build onboarding docs to help the SourceCred community explore the prototype.

Estimated Work (hours):

5 hours research (how is cred/mana managed now)

5 hours to build a prototype if all the components we need are off the shelf. (likely)

20-50 + hours if we need to build custom plugins and/or Aragon apps. (probably for V2)

Dependencies:

CreDAO: 1Hive’s Aragon DAO that integrates with SourceCred (WIP)

  • tbh not sure if this would even be necessary to just mint/manage cred/mana, but it might be useful to help users claim their tokens and/or do stuff

References

A list of additional references that inform work on this initiative (e.g. GitHub issues or Discourse posts). The references should be links, so that cred will flow to them. If content is already referenced elsewhere (e.g. in the description), there’s no need to add it as an additional reference.

Inspired by this post by @decentralion

CreDAO is a combination of /r/daonuts and SourceCred

Contributions:

A list of links to contributions that make progress towards this initiative (e.g. GitHub pull requests). The initiative will flow a lot of cred to its contributions.

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If 10h is what it takes to build an experiment. It may be interesting. However, I think introducing transparent, community controlled, immutable, distributed ledgers and mechanisms is a little early for SourceCred.

SourceCred is currently not stable even on the conceptual level, let alone APIs and formats. I expect a lot of future work in maintaining such a DAO will revolve around dealing with upgrading the system over time to change and introduce concepts, update formats, add plugins, and so on.

So my current inclination is to say, interesting, but long-term?

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Currently the computation is done in observable notebooks, and the distributions are canoncialized by commiting them to this repository.

I quite agree with @Beanow here. Making mana/grain into a token would enable price discovery and allow new people to buy in to the community. These will be important in the future, but are likely to be distracting in the short term.

Also, I want to experiment with mechanisms where people use mana/grain as part of the SourceCred game. Keeping it an “in-house” quantity will make those integrations lower friction. (In the future, it might be that there is “staked mana” which is available in the system, and “unstaked mana” which is freely transferrable as a token, and users can choose when to stake or unstake it.)

Possibly the first step before making it into an ERC-20 token is to just give people the ability to transfer mana (to other SourceCred community members).

BTW, glad to have the initiative even if we don’t do prioritize it immediately. :slight_smile:

So FTR it would just be the ledger of accounts and balances, but on Ethereum vs GitHub. Since that’s a manual process, the only thing that would change is that you would mint new tokens on a decentralized ledger vs a centralized one. Cred would still be calculated as is, but the entries to the ledger would be made with transactions vs git commits. Cred tokens would be non-transferable. Grain would be transferable. Really quite simple.

If now is not the time, then when? After the cred/grain supply schedule and economics are modeled?

What would be the benefit of staking vs un-staking? (dividends, voting power, etc…)

One of the default workflows I want is things like users boosting with their grain or voting with their grain. It’s really easy to experiment with those experiences when using grain doesn’t require an Ethereum transaction, and we can do it all purely within SourceCred.

Consider that while we are experimenting with the interface, we could make boosting as easy as posting a special message in the Discourse. That’s nice for velocity in testing the idea.

The main benefit of putting it on the blockchain is that you can start selling them to 3rd parties. This is both a blessing and a curse IMO. I don’t think we need to rush to it.

Also just personally, writing secure and robust smart contracts feels a bit like juggling razor blades, so I’d like to hold off on this until we’ve attracted some smart contract experts into the community.

That’s a good point! Makes sense

IMHO the main benefit is transparency and self sovereign custody. Markets are a plus too

I’m not an “expert” in Ethereum contract security, but I am managing the security audit process for 1Hive’s latest project. Essentially you just need to write a reasonably workable contract, create some docs, and hand it off to a security partner. They’ll then show you the tests and processes they ran and how you can fix any bugs they found.

Also, if you’re using an Aragon DAO all the components are already audited (some multiple times), so you get security by default. No need to re-invent the wheel since all Aragon apps are just off the shelf components you can plug into a DAO.

Still not as great for experimentation as Discourd modifications, but just wanted to explain how that process works :slight_smile: