added by Keely Adler · updated 2y ago
A Novel Framework for Reputation-Based Systems - a16z crypto
- At a high level, this design promotes a feedback loop whereby users derive points from high-quality contributions on the platform such as contributing content, moderating, or winning gameplay. And then, when the users with points receive coins, they can be traded as a currency.
from A Novel Framework for Reputation-Based Systems - a16z crypto by Jad Esber
Keely Adler added 2y ago
- The key is that contributors receive a non-tradable token that spins off tradable tokens.
from A Novel Framework for Reputation-Based Systems - a16z crypto by Jad Esber
Keely Adler added 2y ago
- What’s important is that points must credibly link their holders to the source (or driver) of reputation.
from A Novel Framework for Reputation-Based Systems - a16z crypto by Jad Esber
Keely Adler added 2y ago
- Thus, establishing reputational capital requires fully (or at least mostly) non-transferable tokens. The question, then, is how to translate reputation into liquidity.
from A Novel Framework for Reputation-Based Systems - a16z crypto by Jad Esber
Keely Adler added 2y ago
- Social capital shouldn’t be bought—but that doesn’t mean it can’t generate liquidity
from A Novel Framework for Reputation-Based Systems - a16z crypto by Jad Esber
Keely Adler added 2y ago
- Reputation tokens on digital platforms typically serve two purposes: * To identify and reward the users who have contributed value to the platform—a form of signaling, which those users can parlay into public reputation. * To provide a form of compensation that enables contributors to liquefy some of the value they have created into an exchangeable... See more
from A Novel Framework for Reputation-Based Systems - a16z crypto by Jad Esber
Keely Adler added 2y ago
- Even if nobody trades their community service NFTs publicly, the possibility of private sale reduces the signaling value. And in a fully liquid market for such tokens, the signaling value washes out completely.
from A Novel Framework for Reputation-Based Systems - a16z crypto by Jad Esber
Keely Adler added 2y ago