[RFC] WIP: MAXIE, The Instrumentality tokens for DEV, Maximized Creator Economy Tokens

This proposal is being written and is subject to change.

Summary

A proposal for a new token Maximized Creator Economy Tokens (hereinafter called “MAXIE”). MAXIE provides a feature that supports all creators in one transaction. And it increases the DEV’s value by capturing the Creator Economy’s value and creating a more direct positive feedback loop for DEV and the ecosystem.

Component Summary

  • [Treasury captures Creator Economy]: Dev Protocol Treasury currently holds a 5% share of the Property Tokens (a.k.a. Creator Tokens) created by Dev Protocol, and so it captures 5% of the growth of the Creator Economy automatically.
  • [MAXIE is a new Treasury]: MAXIE is the Treasury itself as a new Treasury, meaning that the Treasury itself is tokenized.
  • [Managed by the community]: MAXIE holders can exercise control over mining rates and asset management through governance.
  • [ERC-20 compatible]: MAXIE is based on ERC-20.
  • [Fixed supply]: MAXIE has a fixed supply, it’s 1,000,000,000,000,000 (1 peta)
  • [Lock sTokens, get MAXIE]: By locking one or more of the sTokens, the user receives MAXIE. The primary market for MAXIE is to lock the staking positions of DEV.
  • [Redeem MAXIE, get Treasury]: By redeeming MAXIE, the redeemer receives the part of the Property Tokens held by Dev Protocol Treasury.
  • [Demand-based redemption rate]: The quantity of Property Tokens received by redeeming a MAXIE is dependent on their value on the market. Redemption is by specifying one or more Property Tokens by the redeemer.
  • [Cross-network]: MAXIE is bridgeable in all networks where Dev Protocol works and thus can be mined, redeemed, and converted to Treasury in all networks.
  • [Allocation requires another proposal]: This proposal turns MAXIE on, and the allocation is determined based on another proposal.

Motivation

DEV tokens can be used to support specific creators through staking, but there was no mechanism to support all creators comprehensively. By bypassing MAXIE, supporters can support all creators in one transaction.

Those who hold MAXIE also means that they are making a diversified investment in the Creator Economy through comprehensive support for creators.

And with the introduction of MAXIE, DEV’s value will increase by capturing the value of the Creator Economies created in the ecosystem more quickly.

Details

The following is an overview of the new ecosystem surrounding MAXIE:

MAXIE is an expanded ERC-20 and a new Treasury

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Lock sTokens, get MAXIE

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Buy MAXIE with ETH

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Redeem MAXIE, get Treasury

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Demand-based redemption rate

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Cross-network

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Co-authors

Missing Roles

None

Compensation

None

References

None

4 Likes

This is a great and well thought idea! Essentially, sToken holders (specifically the long term believers in the creator economy) stake their sToken position for a chance to yield extra profit by “mining/earning” a part of the total treasuries holdings, right?

Is there a plan for the yield rate to increase based on the amount of time that the sTokens are staked?

Hi, it would be great if there could be an idiots version of these proposals for people like me!
If I am new to the project, what process will I go through to earn maxies? Do I automatically earn maxies by staking dev? What can I do with the maxies I’ve earned? How to they relate to s-tokens?

This is great idea. But how would be the distribution for the creators. For example some creators keep improving their platform while some quit long ago. Would all they get the same APR from the stakers?

This is a great and well thought idea! Essentially, sToken holders (specifically the long term believers in the creator economy) stake their sToken position for a chance to yield extra profit by “mining/earning” a part of the total treasuries holdings, right?

Yes, the MAXIE idea works exactly like that.

Is there a plan for the yield rate to increase based on the amount of time that the sTokens are staked?

I have not yet designed the details of MAXIE mining algorithm yet. So your input should be incorporated into that design process and help us design it better :slight_smile:

MAXIE is still in the design stage, but its concept can be summed up in one paragraph: “By locking your staking position on MAXIE, you can mine a portion of the Creator Tokens.”

Not only MAXIE but I understand that we need to continue our efforts to make the functionality of Dev Protocol a more understandable message.

MAXIE does not make any changes regarding the creators’ reward, but I think your question should be resolved. There are already some existing solutions proposed and I share them here.

Staking users can control the optimal distribution of rewards by staking DEV to trusted creators, but creators cannot voluntarily control their rewards on tokenomics. However, they can increase/decrease their staking by providing perks or not, and as MAXIE activates the Creators Tokens market, the shading of inactive projects will become clearer, which may improve the fluidity of staking. In any case, I’m always looking for primitive algorithms that can be incorporated into tokenomics (because I personally think it’s a bad idea to optimize the core modules of Dev Protocol for a specific use-case).

1 Like

Yes that is right. The solution is simple and already discussed before in Karma systems. It will be complete motivation for creators to be active and support Dev ecosystem when Maxie is implemented!

1 Like