Hey all! Long-form post incoming
A brief intro for those that don’t know me. I’ve been in the PoH community for around 2.5 years and actively engaging with proposals, debate, illustrating, running competitions, mediating, and brainstorming for about a year and a half. I am active in Web 3, building my own 1/1 NFT project on my own contract, as well as producing music albums, and advocating for more diversity in the blockchain space
I was delighted to find this project trying to build a better world, and even though I think PoH is brilliant, it is UBI that really engages me. Now that the initial hype is past, I’ve spent a fair bit of time thinking about the road ahead and want to bring a draft framework/plan to the protocol.
Below are all my suggestions, project ideas, strategies, and organizational possibilities that form a foundation to build on.
To make UBI successful, it is clear there needs to be sufficient, consistent offsets/sinks to the price and organizational framework. (I discussed using Trello on the PoHGov forum, here)
Lets go through some basic figures so we can see just how much we need to offset for UBI to work using current data (30/11/22).
Current PoH Registrants: 4570
Total UBI distributed every 24 hours: 109,680 (24x4570)
Total USD price (at current prices): $438.72 (0.004x109680)
Total USD per year (at current prices): $160,132 (438.72x365)
That is A LOT of money to offset already per year to maintain the price at $0.004. If we are going to reach 10k, 20k, 100k registrants, we’re talking offsetting millions per year. It is doable, but a major challenge.
So how do we do it?
We should assess how we can utilize our main asset, PoH, to kick start this process, but also look outside of PoH itself for innovative ideas.
Here is the most condensed, TL;DR list of suggestions I have in no particular order:
- Creating a marketable service
- Establishing a web of trust
- Establishing a clear roadmap to bring to philanthropists and investors
- Provably enhancing social growth, community building
- Innovative DAO implementations proving decentralization viability
- Innovative tokenomics
- Utilizing the human love for fun & games
First I want to spearhead the elephant on that list:
Point (3) How to appeal to philanthropists and investors?
This is a question I hear often. To do this we need clear GOALS with clear COMMUNITY GROWTH factors to show that the money won’t just be thrown into a furnace. We need to illustrate we are capable of leveraging our technology to improve lives and innovate. The catch is making it economically sustainable and, if profitable, injecting that wealth back into the ecosystem. Additionally, building safeguards so we can continue to nurture our communities in bear markets, as well as global economic instability.
Philanthropists want their altruistic investments to provide long-lasting, impactful solutions, not be quick-fix crypto pumps.
How?
We need to decide what services we want to supply. This will create a source of treasury income from organizations, a financial safeguard in bear markets, and a sink for UBI. We cannot exclusively rely purely on goodwill.
I have put together a list of projects, solutions, and suggestions that I am happy to act upon if given support. I must make this clear though, I cannot code, but I can organize, manage, creatively direct, solve, brainstorm, analyze, and plan:
Project 1: “Opinion Block” - Creating a basic service
A human opinion polling service for organizations and independents. We can provide genuine feedback from a verifiably human source and create jobs in Web 3.
How?
Using a service like Pol.is to facilitate an anonymous polling environment that meets PoH & UBI vision of decentralization. This will provide data analytics and human opinions breakdown, and we could even offer to support the external partner with analytic services if needed.
Eventually, it would be preferable to have an in-house UI environment, for this and everything we do.
Why?
I think this is an easy call to make on how to use PoH. Bots and fake reviews are a huge problem right now. We have a registry of unique, provable humans. All a company or organization needs to do is tap PoH for genuine opinions. It is simple to market, useful, and allows us to engage directly with the community and build external relations.
Funding & Payment?
Basic funding whilst using Pol.is would cut initial costs. We just need a way to draw participants from a pool of wallets if this isn’t possible already.
A higher level of funding would allow us to get this built in-house with a functioning U.I., giving us a tangible project to market and protecting our user’s data.
Payments for this service by an organization will be split as equally as possible between participants, the treasury, and burning UBI.
33% for participants
33% for the treasury
33% for burning UBI
How could we enhance the service?
Find ways to select people suitable for a particular task: For example, people experienced in makeup, video games, streaming, certain age groups, etc. Without compromising their identity.
Proof of Competence: ZKP of speciality so companies can request PoH members with accreditation or experience in a particular subject.
Project 2: “The Gaia Gallery” - Building a network of creative talent in PoH
To enable Web 3 social growth, PoH can set up a Creator’s Guild that hosts creative competitions with a theme.
Why?
This will illustrate our capacity to bring talent to the attention of Web 3, create jobs and income sources for those in need, as well as create a network of artists, musicians, cosplayers, and creatives across the world.
How?
The best three submissions are selected to be minted as NFTs on a DAO-owned contract called The Gaia Gallery (placeholder name). Over time we can build a community gallery of high-quality talent we could assign to potential work requests from external partners. I am happy to host these competitions and organize the Creative Guild if the DAO would like that. Many are familiar with my interest in creative community building after the mascot designs I did for PoH earlier in the year.
What is the long-term vision of the idea?
This could lead to becoming a hiring network for creative talent, providing real-world community equipment to creatives in impoverished regions so they can participate, and building a professional quality gallery of work.
It could potentially be the beginning of a network state in the extremely long term.
I think it is an excellent pitch to philanthropists and altruistic donators.
Funding & Payment?
A small amount of funding will be required for me to set up a contract, mint NFTs, and enable royalties. We can do this in-house or I can do it with Manifold.xyz which I already use for my NFT project and am very pleased with.
It would be both our own and the communities’ responsibility to attract funding and buyers on social media by engaging with our content.
Simply draining the treasury minting at a high price to create a false collection floor is not the solution.
Proceeds of NFT sales should be split responsibly, and, in my opinion, should favor the artist for their time and effort. The DAO could vote on the final split, royalties, and the rules of the competitions (for example concerning generative art). Again, I can use Manifold to ensure this is embedded into the contract and royalty registry.
50% for the artist, 1% trading royalties built into the contract
25% for the treasury, 1% trading royalties built into the contract
25% for buying and burning UBI, 1% trading royalties built into the contract
Further addressing point (2) Establishing a web of trust in Web 3 and Web 2 + point (5) Innovative DAO implementations proving decentralization viability
Besides the suggestions I made so far, innovation can reach out to other sectors such as academia and education.
How?
Project 3: My Human Academia – Publishing academic papers, peer-reviewed by other academics, and creating educational content.
Potentialities: Grows into a specialist hiring network connecting accredited professionals
Why?
Empowers research, education, and reduces barriers to publishing papers for those in less privileged communities.
Point (6): Innovative Tokenomics
In our current state, I don’t see any magical tokenomic formula that is going to make UBI work – It needs financial sinks to be developed, then the tokenomic void-wizards in here can do their work.
The only idea I’ve been toying with is a dual-token model.
1 UBISAVE and 1 UBI drips to users every 2 hours.
UBISAVE’s value is independent of UBI, and can only be used to buy UBI. It cannot be sold for anything else. Mitigates selling, and gives users a way to experience trading without having to invest their own FIAT.
The problem is I mostly see this as intentionally creating false volatility. I feel like there is -something- in there that could make this work positively, but tokenomics and mathematics aren’t my forte.
Point (7): Utilizing the human love for fun - Where I think the real gem is here
Let’s be honest, what better way to buy and burn UBI than a metaverse or video game with a digital collectible cash shop? I see those Ready-Player-One eyes, I know how much people spent on mounts in WoW, skins in Overwatch, and Freemium MMOs in the 00s and 10s!*
Imagine if all those cash-shop transactions burned UBI?
I think we could target three gaming markets
A) MMORPG & Metaverse, ‘Oasis’
B) “The cosy Indie game market”
C) Mobile gaming market
I have some amazing ideas for** (B) **, but would prefer to discuss it when the time and sufficient funding to build it comes. I’d LOVE offering creative direction for these games.
Concerning P2E (Play 2 Earn), I have yet to see a working model that doesn’t rely on rampant bull-market energy to pump the price. Building a pump n’ dump P2E isn’t ideal for UBI, and the better focus would be on actually building something unique that people WANT to play and keep playing.
I believe with some of these points above successfully built we will have significantly more success in maintaining price, attracting fundraisers and reaching out to external partners.
Finally, would I be willing to organize all this?
I have been in our community for some time. I think UBI has so much untapped potential, so I am certainly passionate about it.
I could allocate a casuall amount of my time to this between the other numerous work and personal commitments in my life. I would need a very small amount of ETH for funding things like setting up contracts or paying for the subscription fee to Trello or Notion to help with broader organization.
To do this as a DAO-employed organizer or what have you, with more time allocated to it, I will be blunt, I would need a grant or a wage of some sort to justify giving up the Web 2 work that puts food on my table.
Do I have any special requirements for working?
I have several chronic disabilities, so sitting at a laptop for more than an hour a day is very painful for me, as is standing at a standing desk. It severely limits what I can get done every day. I found my productivity significantly improved when I briefly had a company loaned Ipad Pro as a contractor. It was everything my neurodivergent self ever needed, note-taking, illustrating a concept from start to finish, design, animating, mind mapping, team organizing, remote calls, meetings, but most importantly to my conditions I can move around. Light enough for me to hold without spraining my wrists, but also large enough to do creative work on. Sadly the iPad was company property, but the help it offered me was immeasurable.
That about does it. I realize how long this all is, but getting all this planned out was never going to be short.