Economic Innovations in Web3

Hello there denizens of the Good Mind,

I’ve been getting a lot of asks lately to share links to what kinds of economic innovations I’ve been exploring in Web3. Here are a few to check out.

For people who want just name and links, here is a shortlist. Below you will find a text blurb about each if you’d rather not click into a bunch of urls.

SourceCred: a tool to program variables of what kinds of actions or work receive what weight of reward or reputation in a community. It integrates with Github (an open source platform for collaborating on software development), Discord (communications platform), and Discourse (forum software).

Token Engineering Community: offers trainings for people to make token economic systems with incentives aligned for your community.

Giveth: peer-to-peer (no fee) open philanthropy platform. Giveth can be white labeled, and one project listing can appear across multiple curated “marketplaces” of social good projects. Giveth also hosts a more complex version called Giveth Trace, where project funds only get released upon documentation of milestones reached.

Giveth is part of Commons Stack, a larger effort to create things like funding pools for public commons (for example, to protect forests), and complex tokenomics models that help community-oriented or ecosystem-style communities create good financial policies for maintaining a treasury, especially for commons projects such as data cooperatives or even ecovillages who are supporting bioregional regeneration (I’m working on that last bit with Bloom Network and Impact Pirates). P.S., that Impact Pirates hyperlink goes to Gitcoin grants, which is another example of a more open philanthropy process that allows projects to see each other and form relationships (they host a facilitated cohort program to support that as well), and also allows people to vote with their money on what percentage of the granting pool gets allocated to each project. Do better please, philanthropists and fund managers working in the U.S. banking system. Projects all over the world are tired of having to write grant applications over and over and over again. You have our data, use it. – portable profile systems. Instead of having to re-create a profile across all of the digital communities you participate in, portable profiles have the potential to help multiple networks share resources and collaborate through a shared backend that references IPFS. Here is an example of a use case of it from MetaGame.

MetaGov: building standards and infrastructure for digital self-governance. The new generation of online communities is changing the rules of online governance. In these worlds, users have the right to self-governance—the right to come together and organize their own social and political institutions. On the Internet, the right to self-governance is not a natural right; it is enabled and circumscribed by the architecture of the platform on which people interact. That same architecture also governs the interaction between separate user-generated institutions. Metagovernance describes these two related roles: (1) enabling and constraining users’ ability to create their own institutions, and (2) governing the interaction between separate institutions, whether they be small groups, large communities, or formal institutional structures.

PolicyKit by MetaGov: PolicyKit empowers online community members to concisely author a wide range of governance procedures and automatically carry out those procedures on their home platforms. Inspired by Nobel economist Elinor Ostrom, we’ve developed a framework that describes governance as a series of actions and policies, written in short programming scripts. We’re now building out an editor, software libraries, and connectors to platforms like Slack, Reddit, and Discord for communities to author actions and policies.

IAMM is designed to help value flow back to creators of digital goods. It measures the impact of your creation and generates continuous revenue streams, enabling ecosystems and micro-economies to emerge around people’s creations. You can install policies on your creative streams as well.

Re: creative DAOs. There are many NFT groups, I hear good things about DADA. What I’m most excited about is the potential for DAO’s to disrupt the way that creative professionals work in large marketing agencies and tech corporations, so that they can form self-organizing collectives that can better choose what clients and projects they work on, and eliminate some of the bureaucratic expenses to free up more time for doing what matters to them. Deep Work and dOrg are two examples of this, and they are now making dashboards for their collectives that are more user friendly to people who are not engineers.

Alright, I’ve got to get back to tending to some urgent governance tasks in one of the groups I work in. So here are a couple links to decentralized marketplace protocols, that I believe work similarly to Giveth in the sense that you can make one listing and it can be curated into any marketplace, and it is peer-to-peer. I think these will have power to topple amazon and the grossness of one dude hanging onto enough money to stop literally a billion people from stressing out every day and living miserable lives.

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