Dear community, dear GTON-Team,
I genuinely believe that the new strategy for the GC project is truly great and visionary. Since it was released in december, there were just a few additions I had. Now with the final voting in place - and an even more encompassing view on it -, I want to build upon, what is already proposed by the development team, and maybe add a little bit here and there. Because I made a large part of this posting, after the team released their strategy in december, but before they released their final voting proposal, some of the remarks I had got funnily enough already anticpated by them.
Before we start lets take a look at the official documents.
Now let us talk about the things that should be built, in my opinion, in Q4 2022/Q1 2023 after the first batch of products got released.
A) First, letās carefully distinguish between two things, GTON CAPITAL Net and GTON CAPITALā¦
If GTON gets itās own blockchain, it should be - of course - the superordinated structure compared to everything else in this ecosystem. Also, it should get itās own independant place, website and social media presence. I propose for the blockchain, GTON CAPITAL Net, a website that should includeā¦
a) an introduction about the blockchain, the GTON token and itās basic functionalities
b) extensive material about the development on this blockchain; so that other development teams can easily grasp how they can get their project done
c) an overview about all the dapps that exist in the GTON ecosystem
d) analytics/statistics; one of the statistics should show how much money the DAO has; how much revenue goes in and how much money is spent on which things; it should basically be like a pie chart, that should show so and so much money do we, as a DAO collect through bonding and other services like swaps on OGSwap or lp farming on Candyshop and so and so much money do we spend to liquidity pools, core functioning as well as marketing, and is used to fund projects due to a project catalyst inspired funding scheme - look at point e) -, or is reserved for buybacks with the pathway protocol, etc.; hint --) this got already in a similar form anticpated by the team, where they talk about monthly reports; I would like to be able to watch this in an interactive way, daily and automatically updated on the website
e) and last but not least something similar to the already mentioned project catalyst; it is basically a pot of money made available by the GTON CAPITAL Net DAO; independant development teams can propose ideas, and can describe what they want to develop on this blockchain and the community can afterwards vote with their holdings, which projects should get funded with the money in the pot. Projects that didnāt get enough votings to be funded by the DAO, should be able to take a collateralized loan from the DAO, that they have to pay back.
Second the GTON CAPITAL dapp should be subordinated; it should just be a dapp, like many, in the ecosystem - even, if it is an important dapp. It should mostly includeā¦
a) staking
b) bonding
c) voting
However, like everything else in this ecosystem - all of this is very interconnected with each otherā¦ That means, GTON CAPITAL Net will use the bonding functionality from GTON CAPITAL as a revenue stream. Yet, it should not end with that; it should just be the beginning!
Let me elaborate on thatā¦ Due to crypto, my views shifted from a statist position a little bit more to a libertarian positionā¦ However, I still believe, the best way to build an ecosystem is like a state that collects on one hand taxes to build on the other hand roads, schools, infrastructure and so onā¦ Therfore, the GTON CAPITAL Net DAO should on one hand collect money due to fees on their services, and spend it on the other hand on building the ecosystem, and in a lesser degree on marketing, and so on.
So, I plea that, what was once the idea for only one dapp and functionality, namely GTON CAPITAL and bonding, should get expanded and should become a core principle and a characteristic of the whole ecosystem. Behind every product in the ecosystem should be the question, how can we monetize it, so that not only the egoistic individual but also our GTON CAPITAL Net DAO can make money from it.
That means, later on, we should also generate a revenue stream from a tiny, tiny, tiny fee on every swap on OGSwap and lp farming on Candyshop, as well as from every future official team project and from every third party project that got funded through our project catalyst fund. Imagine that we have hundred ecosystem projects and all of them generate, every second through a small portion of fees, a revenue stream for us; the GCNet DAO.
Therby, itās basically a cycleā¦ The GTON CAPITAL Net DAO collects fees/ātaxesā through itās ecosystem products, and then spends it on the funding and development of new ecosystem productsā¦ And these new ecosystem products generate together with the already existing ecosystem products now even more fees/ātaxesā that go to the GTON CAPITAL Net DAO, which will fund the next generation of new ecosystem productsā¦ Itās a perfect cycle, where both sides will accelerate each other because of positive feedback effects. Or in simple terms, more ecosystem products means more fees/ātaxesā/money for the DAO and more fees/ātaxesā/money for the DAO means more ecosystem products.
Our goal should be to become, due to this, one of the most well-funded projects in the industry. So, GTON CAPITAL Net should not only be not a non-proft-organisation, but be like a āultra-for-profit-organisationā - it should literally swim in money. We need so much money, because we need to be compatitive with Solana, Cardano and so on, who have an advantage due to their earlier startā¦ And that is expensive.
A bad example in this regard is the Ergo blockchainā¦ Donāt get me wrong, I like Ergo and wouldnāt have invested in it, if I wouldnāt believe in itā¦ It is a beast of its own and it is ethically principelledā¦ However, in my opinion, one flaw of this principeles, is to be too proud of its decentraliced structureā¦ One picture that gets several times reposted is thisā¦
It shows that nearly all of the initial token allocation went to the public, and just a little bit went to the foundation. That is cheered on as decentralizationā¦ Well in my view, it means that the foundation is poorā¦ So it canāt afford the development of itās own ecosystem, it is dependant on the good will of generous whales, who offer some grants and development teams, who code on it, because it is more or less fun for them. On top of that, one egoistic and greedy individual - called āthe bearwhaleā, you can google the ābearwhale sagaā - was able to gather a huge amount of Ergo through mining in an early development stage, and then used this power to crash the market two times. So much about public allocation of a coin; now it is centralized in the hands of a harmful individual, instead of the hands of a publicly owned foundation/DAOā¦ No, no, no - this is not the way! We should approach the matter completely differentā¦
Again, I repeat myself but a blockchain that I would prefer, is build like a stateā¦
a) It constantly collects money - from an expanding revenue stream -, due to all its ecosystem products, and takes this money to invest into the creation of new ecosystem products.
b) To prevent financial corruption and misuse, everything has to be through visualized statistics 100% public and transparent. Where the money comes from and where the money goes to, should through oracles, or something like this, get automatically calculated; and it should be reproducible by the public, like open source code. Or in other words, all of this should be, due to analytics and statistics, totally transparent and there should be no way, what so ever, to manipulate numbers.
c) Also, what is funded and what is not, depends mostly on how helpful it is to secure and expand the development of the whole ecosystem and the economic goals of the DAO and its members. Especially which new third projects should get funded by the DAO, should be decided through a voting system.
To take all of this into consideration, I propose that the development team should add to
aā) The Ecosystem Reserve Fund
b) The Ecosystem Liquidity Fund
c) The Ecosystem Insurance Fund
also
d) The Ecosystem Building (or Catalyst) Fund; this should be the fund that is used for funding the development of the whole ecosystem through a project catalyst-like mechanism.
In addition to that, I want to explore with B) and C), further and supplementary options, how we can create the basis for a flourishing ecosystem. The mayor strategy for Q4 2022/Q1 2023 should beā¦ āDonāt just build dappsā¦ Build dapps that build dapps!ā If you build a dapp, you have one dapp, but if you build a dapp that builds dapps, you build one dapp, but you maybe will get ten or hundred dapps out of itā¦ So the strategy should be clearā¦ That meansā¦
B) Build an IDO launchpadā¦ Of course, I donāt have to explain, how this works; you know that better than me and there are countless examples on that - but for completnessā¦ When new crypto projects start their development process, they need fundsā¦ Another option to fund these projects - in comparison to the already mentioned project catalyst like funding mechanism - is, if a project is selling their tokens at low prices to early investors. So we should offer third party development teams this option, on the future GTON blockchain. However, the roots of the GTON ecosystem are multichain, and multichain is the futureā¦ So, unlike to many other IDO launchpads, here it should be possible, to launch these tokens on a wide variety of blockchains, not only on GTON CAPITAL Net. However, to make use of GTONs special swapping capabilities, it should even be possible that a seller makes its offering on blockchain A, and a buyer buys these tokens with tokens, that he has on blockchain Bā¦ It seems to me, that OGSwap is in the meantime also used as launchpadā¦ So the question should be, if OGSwap gets permanently adapted to serve this functionality, or, if a new explicit launchpad is needed.
C) Build a project that I already described, in another forum post I made, namely GTONFiverā¦ To make it simple, here I quote myselfā¦ āSo, you can compare it with Fiverā¦ You want, that someone creates something for you, like a logo, a website, an animation, a dapp/a program, code, etc. and you are willing to pay them. So you go to āGtonFiverā, create an assignment, tell people what you want and start the contestā¦ Now, on the other side people that are capable to fullfill these assignments go to āGtonFiverā and create your logo, website, animation, dapp/program, whateverā¦ When the contest is over you finaly choose, what your preferred result is and your stake will automatically go to the winner.ā This should be the third way, how we can fund our ecosystem. More on that in the specific thread.
D) A little bit unrelated to the rest of this proposal, is, that I propose, that another mayor focus in Q4 2022/Q1 2023 should be on the creation of our own wallet. Basically, it should be very much like Metamask and it should be available as desktop, browser extension and mobile wallet. Key features should beā¦
aā) multichain support, that is definately a necessity, because it shouldnāt matter on what blockchain you store your GTON token
bā) multiple dapp connectors; you should be able to connect with Ethereum dapps, as well as with Cardano, Ergo or GTON dapps and so on.
cā) integrated GTON staking
dā) integrated crosschain and onchain swaps, it should be possible to make inside of this wallet swaps, like with OGSwap
eā) it should be possible to connect this wallet to a ledger hardware device and it should have a read-only option for paper wallets, to store your coins/tokens safely
Finally, I would like to round off the proposal with an infographic that should briefly summarize what has been described.
Feedback from the community and the team is very appreciated.
Kind regards,
ForumUser/
TelegramUser/
DiscordUser
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a DAO of DAOā