Non-Financial Use Cases for Tokens w/David Phelps | S3 E2

---------SIGNAL VS NOISE Social governance in DeFi applications is usually coordinated through online forums and Discord channels. Snapshot applications conduct "off-chain" voting before protocol changes are encoded on the blockchain. DeFi governance evolved organically but created a lot of noise because proposals, discussions, and votes spread acr... See more

Tokenized communities ensure some means of voting out core contributors and creating, editing, and ratifying community-wide proposals. This is most commonly manifested in treasury governance – members of tokenized communities have a say in how the group’s treasury is allocated. 

Using the proposed approach, nine different-by-design value capturing mechanisms were identified: value transfer*(1), work “staking” token(2), protocol consensus token(3), dividend(4), backing by another asset(s)(5), discount token(6), internal product governance(7), meta-governance(8)**, and hedonic value(9)

Decentralized governance is at the heart of the ideological foundation of crypto: equal participation for all actors. The playbook of progressive decentralization is being followed by more decentralized finance (DeFi) projects. Users and tokenholders can now have more control over protocol parameters, treasury spending, and, in general, the industr... See more

The communities could distribute governance tokens to the holders of character NFTs, which in turn can be used to vote on key creative decisions. Such collaborative relationships between creator and community are already happening and will only increase as participants explore the possibilities, both creative (including governance) and financial.

Now, imagine a more comprehensive record of not only what a person has said or done but how they have spent their time and money. POAPs, for example, allow the convener of a meeting to give everyone who attends a permanent, non-transferable token proving their attendance. So, if someone starts spouting off about some local, municipal issue, you can... See more