[RFC] Proof of Creation

Summary

A proposal regarding the direction of the protocol and the specifications that should be provided.

Component Summary

  • Dev Protocol realizes “maximizing creativity” and builds a decentralized infrastructure for creators.
  • Dev Protocol is a unique protocol that can comprehensively support functional separated equities/incentives/governance for creators, and fan communities, with simple dynamics.
  • Compatibility with the already discussed gDEV, sTokens, Governance Dapps, and Staking Perks.
  • Additional implementations are Slashing and a preferential scheme for excellent projects.

Motivation

Dev Protocol is committed to “maximizing creativity,” The scope to cover is not limited to financing. However, the scope currently achieved is extremely limited.

The goal is to create many positive loops―funded projects build a stronger creative foundation, stronger creative foundations bring more active and reliable creative activities, and more active and reliable creative activities attract larger stakes and fans―and improve the usefulness of Dev Protocol in those loops.

Details

Before DIP-4, Dev Protocol was designed to increase or decrease staking rewards based on a quantitative evaluation of OSS. For example, positive indexes like the number of OSS downloads. However, that specification led to a concentration of staking and was abolished by DIP-4. Currently, staking rewards are calculated only by the number of stakes. In addition, there are concerns that positive indexes are vulnerable to manipulation by bots, larger time lag, and oracle cost increase, and there are creative areas that have difficulty evaluating quantitatively. Because of those concerns, the positive indexes were not suitable as a factor for calculating rewards.

Therefore, I propose a negative index, Slashing, and a preferential scheme for excellent projects.

  • A keeper or DAO( tentatively called the Stoppage Observer) reports Property tokens containing assets that have already been stopped and put them in the Slashing queue.
  • Property tokens queued by the Stoppage Observer are slashed after a council review.
  • Slashed Property tokens lose all unclaimed rewards and can no longer be staked.
  • Projects that aren’t slashed for a long time get an active coefficient and get bigger creator rewards.

People’s stakes prove the continuation of creation. And the number of stakes proves the reliability of the creation.

Projects funded by early-stage staking will use Governance Dapps and others to build a more active and reliable creative foundation. Or use Staking Perks and others to boost the seed funding by distributing some of the Property tokens to the initial stakers or offering unique perks. And as the project grows into a stronger project, the creator gets bigger stakes.

With the Proof of Creation, the protocol brings a positive growth loop to all creators and backers.

Agreed Collaborators

  • Dev Null AG / FRAME00, inc.

Missing Roles

  • Not decided yet

References

  • None
3 Likes

Lovely post as always, Aggre.

This is a widely discussed matter and has been in the forefront of discussions in our official telegram group for a few months now, so it’s great seeing it discussed and fleshed out!

Weeding out bad actors is important and a mechanism to slash out these said projects is very much needed. One could get accepted into dev and then abandon development so as to just sit back and accumulate dev (and sell).

So the general idea is to lower APY across the board and build a mechanism that gradually increases it for actively-funded projects that have been around for a while?

3 Likes

This is an excellent proposal and it will actually benefit all Dev Protocol creators, by having this mechanism it could end up being a ‘stamp of approval’ for Creators.

Just like integrating with Chainlink gives credibility to the security of a projects’ oracle and price feeds, implementing ‘Proof of Creation’ could have the same impact for Creators onboarding Dev Protocol and having stakers, in the future.

2 Likes

Omae-san also agreed with the concept of Proof of Creation. The concept seems that there is a big advantage to using negative indicators instead of positive ones. I designed Proof of Creation for the Dev Protocol’s vision of “maximizing creativity,” but he suggested that it has another advantage as well.

Finished software goes into maintenance mode and may no longer require financial support. We need to think about whether we should support software that is finished and does not require a lot of development or software that is unfinished and has potential value. There may be a strong correlation between the creative activities and when the stake is needed. Additionally, the mechanisms that work mechanically through the Proof of Creation system are better suited to supporting a larger number of projects than mechanisms such as a council and have the ability to encourage project metabolism through natural dynamism.

2 Likes

@Desu @Pdot Thank you all for your support of this concept! I’ll add my comment later :slight_smile:

I think Proof of Creation is a meaningful metric for creators, works to maintain the healthy protocol’s ecosystem, and is a concept that can add unique and rare value to Dev Protocol.

I would like to see a symbolic name that better describes the nature of Proof of Creation. Does anyone have any good ideas? ( Especially, @Midget_Gems san, @Desu san, @Pdot san? )

2 Likes