GTON Ecosystem Proposal

Intro :fleur_de_lis:

The last month of the third quarter of 2022 has arrived. As we look back, we see that the GTON team has been steadily moving forward, focusing on the goals outlined in the annual roadmap adopted last December. We are tying up loose ends in our research and development to enter a period of growth of the application ecosystem based on GTON technology. Since January of this year, we have significantly improved the system of transparent reporting about the project, treasures, technical and community updates, as well as the vision and priorities of the project. To launch this phase, we are dedicating this quarter to the release of a decentralized stablecoin and an Ethereum rollup, which uses the stablecoin as a payment token.

Over the past few months, we have witnessed many events that have fundamentally affected the web3 industry. We can state without hesitation that the market has entered a phase characterized by a prolonged bearish trend. Therefore, we believe that now is a good time to reprioritize the various aspects of the project.

Proposal :fleur_de_lis:

Part 1: Third Parties for Market Making & Listings

First of all, it is worth noting that in the wake of corrections and capitalization decline of most crypto projects several times from their all time high values, legal pressure on projects from regulators has intensified. It is worth remembering, at least, the stories of Tornado Cash, Dragonchain, or the closure of the Fei Tribe project.

Given this, to ensure the successful development of the project, the core team that develops the infrastructure and products, and promotes GTON Capital cannot further report in official channels on the capitalization, listings, and market making of the main utility and governance token of the GTON protocol. At the same time, the market making of ecosystem tokens and GTON should be delegated to third-party partners who specialize in market making and liquidity provision. This means that we, as the core team of the project, must detach ourselves from communication on the topic of Pathway as a liquidity management and market making protocol and delegate these operations to leading market makers, classifying them as strategic partners. All transactions and operations with them are subject to a non-disclosure agreement: this would include private rounds in liquidity, listings on centralized exchanges and OTC platforms, and operational budgets of the project. Under the existing proposal, this is the first item that we expect to be voted on and accepted by the DAO.

Part 2: Focus on rollup activity metrics

After the beta release of the mainnet infrastructure, we believe that the key success factor of the project will be the level of user adoption of the rollup and the stablecoin. It is worth noting here that betting on DeFi most likely guarantees stagnation of the project, as this sector mainly performs well during market growth cycles and the general dominance of speculative interest in volatile farming tokens. At this stage, we claim that the market is oversaturated with DeFi projects, which are often just “copied and pasted” many times on many L1s and L2s. It is becoming apparent that the supply of such services already exceeds the observed demand. All this is exacerbated by the general apathy of crypto users in the wake of the market corrections.

We believe that the market will revive in the future, but in the coming quarters, the GTON ecosystem must evolve to nurture and retain what is key in any market: users. By that, we mean gradually moving away from attracting accounts that will washtrade thousands of altcoins on decentralized and centralized exchanges, lending protocols, bridges, and blockchain networks, simulating a life that does not really exist. We aim, therefore, to focus more on real, long-term users and less on “vanity” metrics.

As the project’s founder, I suggest turning our rollup-based ecosystem into a heaven for GameFi, SocialFi and Real World Assets (RWA) apps and services. As a team, DAO, and community, we must do our best to become leaders in these sectors and firmly associate the GTON brand with them. To outperform others in these areas, we will need to invest in development, acquisition of related assets, and operational expenses to advance services and applications. This is the second point in this proposal that I, as the founder, ask the DAO to accept.

Separately, it is worth noting that this proposal by no means cancels DeFi on the GTON Rollup. One way or another, all the basic primitives are already in development (DEX, Multisig, Farming, Lending, NFT), but this proposal is rather about the fact that in the current market our priority should be to invest time and resources in products and services that directly attract live users and convert them into community and DAO members.

GameFi, SocialFi and Real World Assets (G, S & RWA): A brief overview

GameFi was a big trend this year, but we believe it has not reached its potential mainly because of the excessive predominance of games with mechanics and game-based economy models akin to the “musical chairs" game or the excessive minting of reward tokens for participating in certain activities in games. However, we are expecting a new wave of interest in this sector. There will be other game mechanics and other forms of project monetization and the “earning” aspect for users. GTON Labs has already started active work in three areas: we are co-developing a learn2earn blockchain game that will be announced at the beginning of Q4 and will launch tentatively in November. We have plans to give away small grants to teams of third party game developers, in particular games based on prediction markets, one of which will be introduced immediately after the mainnet release. But most importantly, we have launched our “partnership machine” to attract successful games from Ethereum, Polygon and BSC to release their versions on GTON Rollup.

SocialFi, in our vision, is the market of DAOs and NFT communities. In this area, we are developing our own NFT marketplace and basic infrastructure in the form of a DEX and a Multisig protocol, as well as cooperating with DAO tooling developers (we have already started to enter into partnerships with projects in this area).

RWA (Real World Assets) is probably the most interesting trend that has occured in recent years in the cryptocurrency and web3 industry. It is worth noting that it was USDT, USDC or BUSD that made a key contribution to the fact that millions of people can now use the popular blockchain networks. It was essentially the RWA concept based on fiat stablecoins that resulted in this revolution, and those stable assets are the ones that now hold the capital and transaction volumes. The new wave will involve tokenized commodities: gold and other metals, food crops, oil and other tangible assets such as cars or residential real estate. These are assets that have real utility and rarity, being connected to the global economy, and therefore will always have value that differs from the purely speculative one, in contrast with most crypto assets. Ultimately, web3 can automate and optimize the global economy and create global services for all kinds of assets and transactions. RWA is not limited to tokenization of goods, but can also facilitate implementing web3 mechanics for services that already form the basis of the IT economy: rental markets, b2b franchises, product marketplaces and ads. Through NFTs, users can tokenize goods, commercial and residential rentals and real estate itself, rental cars, scooters or computers: all huge markets in which web3 technology could lead a new revolution, as web1 and web2 did in the recent past.

Why is G, S & RWA important for GTON Capital? Because this is where we have the opportunity to grow from the bottom up, creating services and products that work with real people, not bots. It’s the focus on users that determine the success in capitalization growth, community building, and brand awareness.

Part 3: GTON Labs as a technology and operational company

The current operational entity behind the GTON Capital project - according to the last vote - G21 Marketing Management (G21), will be replaced by a new entity: GTON Labs. This change is due to the current operational license of G21, which is limited to marketing activities only and set to expire in Q3/2022.

GTON Labs will be the new operational home of GTON Capital and act as a ‘for profit’ entity with a full software/IT company license in the so-called free economic zone of Dubai. GTON Labs, funded by treasury as G21 has been, owns all IP rights, software, servers, domains, social media, brands and other assets related to the GTON Capital project. GTON Labs will be the main entity to operate with GTON employees, contractors, strategic partners and investors. In addition, GTON Labs is the entity behind development and maintenance of GTON’s technology as well as R&D, developer relations, consulting, product/service development and incubation.

The revenue generated by GTON Labs will be predominantly reinvested into the GTON ecosystem, its technology and growth: products and services built on GTON Capital technologies (rollup, stablecoin, oracles, bridges) or deeply integrated with them.

The new entity is a necessity for operational and licensing reasons, but does not involve any changes from a DAO or community perspective.

Conclusion :fleur_de_lis:

At this stage, the smart contract audits have already been completed, a few final iterations of testing and cross checks with auditors still have to be accomplished. In a few weeks, we are completing the preparations before the launch of the GTON Protocol beta. This proposal is a necessary foundation that would allow us to make decisions that the team considers necessary for the development of the project during this and next year.

The :fleur_de_lis: -snapshot voting will soon be initiated with two options: “YES! WAGMI” and “Yo uhh hmm (NO)”.

Alex P,
Founder of GTON Capital

2 Likes

What does it mean “DEFI is dead”? Aren’t you going to launch Candy, OGSwap and other DeFi protocols after GCNet mainnet launched?

It’s very interesting topic: “GameFi, SocialFi and Real World Assets (G, S & RWA)”

Why do you think this will push usage of the GTON Technology?

I am 100% for “YES! WAGMI”, just curious and wanna know more details before voting started :wink:

All the best!

2 Likes

The most comprehensive answer can be highlighted here:

It means that the core team focus and attention will be allocated on such areas of web3.
DeFi is already mature and for 100% team will deploy all necessary DeFi primitives like AMM pools or multisigs, but the efforts will be oriented on bizdev approach to onboard existing DeFi dApps into the GTON Rollup.

1 Like

Hello,

overall I like this proposal pretty much!
What I would like to suggest is just an addition to this…

Namely…
Like you said, since the inception of GTON Capital (at that time called Graviton), the original idea behind the project evolved quite a bit. The idea of, what GTON Capital actually is, became clearer and clearer to us… Similar to painting a picture - the longer you paint it, the more recognizable it becomes in terms of figures, colors, outlines, and shading.

To me,
what GTON Capital is…
or should transform into, is…
–) a DAO of DAOs
–) a granting DAO
–) an investment DAO
–) a DAO launcher
–) a suite of DAO tools

That means…
GTON Capital is a DAO, that has to BUILD and GOVERN the GC ecosystem, by generating revenue and making decisions through proposal voting…

The ecosystem includes, in addition to critical infrastructure - for example GTON Network and GTON DONs - most and foremost a multitude of subsidiary DAOs, that revolve around specific goals and tasks.

Some ways of generating revenue, are…

  • Bonding
  • network transaction fees
  • general subsidiary DAO fees
  • IDOs
  • farming with reserve funds
  • and so on…

Exactly this influx of money into the treasury, should allow GTON Capital to act as a kind of “building block” for the ecosystem.
First, it makes it possible for the core development team, to hire more devs and to start new projects.

Secondly…
It makes it possible to outsource some of the development, in regard to the GC ecosystem, to the whole blockchain developer community.

The way, how I envision this is pretty similiar to Gitcoin…

Quote…
“Gitcoin is a DAO that incentivizes coders and developers to work on building essential digital public infrastructure. Gitcoin recognized that public goods often suffer from a lack of funding and developer work. […] With the aim of supporting open-source projects, Gitcoin provides several ways to fund the work of talented developers on open-source software and promote collaboration between developers that do so. Some of the ways Gitcoin supports their mission are developer grants, bounties, hackathons, the Kernel Fellowship and Kudos. Gitcoin also provides various educational resources, technologies, tools and a community that focuses on building digital public infrastructure.”
(–> What Is Gitcoin (GTC)? | Alexandria)

Quote…
"Gitcoin is a platform where you get paid to work on open source software in Python, Rust, Ruby, JavaScript, Solidity, HTML, CSS, Design, and more.
There are many different ways Gitcoin facilitates the funding of open-source projects:

  • Using bounties, the Gitcoin platform connects top talent and teams to challenging projects. Past projects have funded everything from hacking security challenges and building new software features, to UX/UI design and content creation.
  • Sponsored hackathons are set up as competitions where builders can work their way to creative solutions on a variety of protocols for prizes. Developers will team up and collaborate with other builders to advance the technology that will shape the future of the open web.
  • Projects can also be funded through Gitcoin Grants - a quarterly crowdsourcing initiative that partners with large donors who match individual donations using quadratic funding. Over the years, Gitcoin Grants has helped launch thousands of projects who often, in turn, become sponsors of future events."
    (–> https://primer.gitcoindao.com/)

Hereby also very interesting for our own blockchain network, is something like Radix…

Quote…
“Radix’s developer royalties’ scheme, along with Gitcoin, offers a self-incentivizing market economy for adaptable components, allowing for the continuous support of professional open-source development. New coders may be encouraged to enter such marketplaces and supply their code in exchange for a subscription income, potentially helping the open-source industry to further innovate and flourish.”
(–> https://www.quantumrun.com/insight/incentivize-open-source-sharing-innovative-ideas-globally)

Or in other words…
GTON Capital should become, similar to this, a platform for open source development and code collaboration.

To build an entire ecosystem, you need many helping hands and a huge pool of enthusiastic, talented and hardworking people. Therefor…
We need to attract this type of people; so, we have to inherit an open contribution model and should offer a place for all developers, that want to particapte; a place; where they can connect, learn, work together and get incentivized and rewarded for their contribution to the GC ecosystem.

Especially the last part is of particular importance; to attract people, to make them join and participate, you need to incentivize and reward them.

So, while the first step is, to find a model, how GTON Capital can be self-financing and can capitalize from its protocols, products and infrastructure; the next step is, to find a model, how GTON Capital can convert some of its financial ressources to another form of ressources, namely the incredible power of human ressources!

That’s essential for a lively, innovative and creative ecosystem! It’s essential for our success!

In this regard we should take some inspiration from already existing solutions, like…
→ Gitcoin (–> https://gitcoin.co/, https://primer.gitcoindao.com/, What Is Gitcoin (GTC)? | Alexandria)
→ bounty0x (–> https://bounty0x.io/)
→ The Bounties Network (–> https://bounties.network/)
→ Zaigar (https://www.zaigar.com/)
→ GitCom (–> GitCom - Community-Driven open source marketplace)
→ Radicle (–> https://radicle.xyz/, https://docs.radicle.xyz/, What Is Radicle (RAD)? Features, Tokenomics, and Price Prediction | Alexandria)
→ DeGit (–> https://degit.io/)
→ PRToken (–> https://www.prtoken.io/)
→ FundRequest (–> FundRequest - Requests, FundRequest lets you Contribute to Open Source and Earn Cryptocurrency - IntelligentHQ)
Utopian.io (–> Incentivizing Open-Source Contribution | by mooncryption | Medium,
Could Utopian.io Become The Ultimate Funding Solution For Open Source Projects? | by Stellabelle | HackerNoon.com | Medium,
Utopian Now - Contributions Are Welcome — Hive)
→ Radix (–> https://www.radixdlt.com/, Can Blockchain Lead Towards Self-Incentivized Open Source Development? | HackerNoon,

→ Uniswap Grants (–> https://www.unigrants.org/)
→ Aave Grants (–> https://aavegrants.org/)
→ and other sources (–> Incentivize Open Source contributions through decentralized governance | by Aitor Argomániz | Keyko | Medium,
https://www.quantumrun.com/insight/incentivize-open-source-sharing-innovative-ideas-globally)

Third…
GTON Capital should actively fund and invest into new, promising and uprising external crypto projects.

The way, how I envision this is pretty similar to BitDAO.

Quote…
“‍BitDAO is one of the largest decentralized autonomous organizations (DAOs). […] BitDAO will allocate funds for the growth of the DeFi ecosystem by developing BitDAO DeFi products and supporting DeFi partners and projects. They may also provide funds to BitDAO contributors, such as for the development of a bespoke governance module, community management initiatives, or the future BitDAO foundation. The project will work to assist these initiatives so that the rest of the community benefits from them. All decisions will be made through the BitDAO proposal and voting system.”
(–> What Is BitDAO (BIT)? | Alexandria)

Quote…
“BitDAO is positioning itself as the coordination layer of the future, where a multi-billion dollar treasury can be allocated across art, entertainment, media, finance, technology, and more, in order to cultivate and grow Web3 technologies and products. To achieve this, the BitDAO community employs a strategy whereby it helps create Autonomous Entities, or net new organizations that are purpose built and structured to affect change in their respective industries. These organizations are economically aligned with BitDAO and are voted on and approved by the BitDAO community. Some examples of autonomous entities created are Game7.io, EduDAO.io, and zkDAO.io.”
(–> DAO Hack — Encode Club)

Quote…
“BitDAO benefits from the success of partner projects and the crypto industry as a whole. The success of BitDAO partners will increase the contributions to, and value of, the BitDAO treasury, allowing more resources to be deployed. This is the flywheel for growth.”
(–> https://docs.bitdao.io/)

Also, MagnetDAO puts it quite nicely…

Quote…
“Magnet DAO is the next evolution of the reserve currency protocol. Unlike first-generation protocol models, our goals lay beyond simple market cap and treasury growth from bonding. Instead, Magnet DAO has introduced the Innovation Fund: 10% of our treasury and bond profits to invest in high-quality crypto startups, helping them grow from the earliest stages and effectively turning the DAO into an on-chain venture fund.”
(–> https://magnetdao.finance/)

Similar to these examples, we can fund and incubate the ecosystem through [quote]…

  • “token swaps with existing and emerging projects” and
  • “treasury allocation into various projects or autonomous entities (in the form of funding, liquidity support, and grants)”
    (–> Governance Overview - BitDAO)

For example, it can work somewhat like this…

  • New projects apply to us.
  • Selected community members evaluate these projects.
  • Promising projects are proposed to the community as candidates.
  • The community chooses through elections which projects it wants to support.
  • A deal is made between our DAO and these projects.

This deal reads…

  • They sell us a certain number of their coins for a very cheap price.
  • And on the contrary, we support them.

How can we support them?

  • with GTON Capital we offer them funding
  • with Candy Shop we offer them liquidity
  • with OG Swap we offer them a DEX
  • with pathway we offer them trading (if pathway will be built later on)
  • with our community we offer them marketing and promotion

In this regard, we should take some inspiration from already existing solutions, like…
→ BitDAO (–> https://www.bitdao.io/, https://messari.io/article/bitdao-rethinking-the-investment-dao?amp;amp, BitDAO: What You Need to Know About the Investment DAO with Billions in Assets)
→ The LAO (–> https://www.thelao.io/)
→ MetaCartel (–> https://www.metacartel.org/, A Deep Dive Into MetaCartel | Alexandria)
→ MetaCartel Ventures (–> https://metacartel.xyz/)
→ DuckDAO (–> https://duckdao.io/, An Introduction to DuckDAO: The First Community-Driven Crypto Incubator | by DuckDao | DuckDAO | Medium)
→ Stacker Ventures (–> https://stacker.vc/)
→ CULT DAO (–> https://cultdao.io/)
→ Magnet DAO (–> https://magnetdao.finance/, https://docs.magnetdao.finance/)
→ Capital DAO (–> https://capital-dao.io/, https://docs.capital-dao.io/)
→ and other sources (–>
DAOs: An Alternative to Venture Capital | Ledger,
https://hackernoon.com/future-of-vc-in-the-web30-era-a-race-to-investing-in-daos-au4p326r,
Investment DAO: A new way to High Profit Returns | by Rebellion Protocol | Medium,
An Overview of the Venture DAO Ecosystem | by AngelDAO | Medium)

FOURTH…
GTON Capital should offer “a functional framework that get DAOs up and running through a convenient and transparent platform. Deploying a DAO without a launcher pack is possible, but it may demand specific skills that most communities (and even excellent programmers) do not effortlessly wield.”
(–> https://thedaoist.mirror.xyz/FfzZ8NnWdb5ygJu13mLi9PdWoGqaoKSm8mJoRIi3GJI)

The way, how I envision this is pretty similar to Aragon.

Quote:
“Aragon is a decentralized autonomous organization (DAO) which allows third parties to easily create their own DAOs using a toolbox of pre-programmed smart contracts. Aragon also offers DAO templates depending on whether the DAO is intended to function like a corporation, charity, etc.”
(–> Aragon (ANT) Review: Worth It? Everything You NEED TO KNOW!!)

Quote:
“Fundamentally, the Aragon platform is a decentralized application layer built on top of the Ethereum blockchain that creates a decentralized environment for anyone to be able to create and manage an organization within the context of the defined, but explicitly customizable parameters of the Aragon Network. These parameters are defined by the Aragon Core protocol and are designed modularly to enable an upgrade mechanism to facilitate useful and intuitive improvements to the platform based on an organization’s needs.”
(–> What is Aragon Coin? (ANT) Beginner's Guide, Information & Review)

In this regard too, we should take some inspiration from already existing solutions, like…
–) Aragon (–) https://aragon.org/, Aragon (ANT) Review: Worth It? Everything You NEED TO KNOW!!, What is Aragon Coin? (ANT) Beginner's Guide, Information & Review, Incentive Design & Tooling for DAOs)
–) Colony (–) https://colony.io/)
–) DAOHaus (–) https://daohaus.club/)
–) DAOstack (–) https://daostack.io/)
–) Gardens (–) https://gardens.1hive.org/)
–) OpenLaw (–) https://www.openlaw.io/)
–) Syndicate (–) https://syndicate.io/)
–) XDAO (–) https://www.xdao.app/)
→ Tribute (–> https://tributedao.
XDAO (–) https://www.xdao.app/)
→ Tribute (–> https://tributedao.com/, Introducing the Tribute DAO Framework | by OpenLaw | Medium)
→ Paideia (–> Introducing Paideia — a DAO Toolkit | by ErgoPad.io | Medium)
→ Squads Protocl (–> https://squads.so/,
https://twitter.com/SquadsProtocol/status/1507374272163024906?cxt=HHwWlMC4vcC6ouspAAAA)
→ and other sources (–> https://hackforfreedom.org/, https://thedaoist.mirror.xyz/FfzZ8NnWdb5ygJu13mLi9PdWoGqaoKSm8mJoRIi3GJI)

In addition to this, GTON Capital should offer DAO tools; these are modules that may help a team to create bespoke, custom-made DAOs - or can be used to supplement or enhance DAOs created through other Launchers.
(–> https://thedaoist.mirror.xyz/FfzZ8NnWdb5ygJu13mLi9PdWoGqaoKSm8mJoRIi3GJI)

This can include tools for different fields, like…
–) investing (–> DAO Masters)
→ recruiting (–> DAO Masters)
→ marketing (–> DAO Masters)
→ fundraising (–> DAO Masters)
→ token creation (–> DAO Masters)
→ token gating (–> DAO Masters)
–) treasury management (–> DAO Masters)
→ DAO analytics (–> DAO Masters)
→ governance and voting (–> DAO Masters)
→ treasury management (–> DAO Masters)
–) knowledge management (–> DAO Masters)
→ community management (–> DAO Masters)
→ contribution and compensation (–> DAO Masters)
→ and more (–> DAO Masters, https://deepdao.io/dao_tools, https://cripto.tools/pages/dao-contribution.html, https://identityreview.com/the-ultimate-guide-to-dao-tooling/, https://wiki.metagame.wtf/docs/great-houses/house-of-daos, https://www.withsmoothie.com/articles/21-dao-tools-you-need-to-know, https://www.algopulse.io/articles/why-algorand-is-the-google-of-blockchain-copy, https://thedefiant.io/what-is-a-dao/, https://www.theventure.city/blog/the-building-blocks-of-a-dao, https://medium.com/1kxnetwork/organization-legos-the-state-of-dao-tooling-866b6879e93e, https://ff.mirror.xyz/5DKTQ81NR3u_CyZIPWlAcUMstYyVDEYj6nOyZKx1ZuI, https://superteam.substack.com/p/solana-dao-tooling?s=r, https://onxyz.substack.com/p/constitution-dao-how-to-build-a-dao?s=r)

So if you ask me, what GTON Capital is or should be… My answer would be…
GTON Capital = Olympus DAO (staking, bonding) + Gitcoin (bounties, hackathons) + BitDAO (funding, investing) + Aragon (DAO management)

The goal should be, to offer an extremly attractive all-inclusive package for the creation, funding and management of everything, what is related to the GC ecosystem… Especially in relation to DAOs, what should lead to a cambrian explosion of subsidiary DAOs, like shown in the picture below.

(

3 Likes

Like your Grants DAOs and Sub-DAOs vision.

I noticed that most of conversations happening in GTON tg chat:

I’ll pin it here.
When snapshot? Today?

1 Like

Hi all,

especially for the DAO part, i would like GTON to be something really special.

What we see so far with DAOs is mainly limited to simple “Yes/no” decisions, sometimes with discussions via forums before the vote. I think that is very limited. Instead i would love to see a really distributed decision process, e.g., like QOC, in which the community has the possibility to evaluate different options by different criteria.

We have set up a prototype for such a distributed (yet decentralized) decision systems some time ago on the Waves platform:

A system like this would allow not only to take more differentiated and reflected decisions, but also to leave more details about the decisions to the community. At the same time, the decision itself is documented in depth.

I guess this would bring DAOs a real step further.

Cheers
Marc

2 Likes