The following image represents the sorting of OBJKTs in the current smart contract system. Such system intends to compose a media governance protocol. The definition of DAOs (Decentralized Autonomous Organizations) relies in multiple fallacies, in each of it’s terms. Nonetheless, being possible to orient ones action given contexts, responding to grades of autonomy, decentralization, deorganization, etc.
Currently the hDAO feed would allow curating/marking OBJKTs making them relevant as it creates significance, transmites value. The act of curation, even as a simple signalling, could establish networks between addresses, state relevance/care, being a discovery method/presentation method/algorithm made public. OBJKT creators would be allowed to claim such hDAOs composing a media economy.
hDAOs have been though as well as an alternative currency to the marketplace, for the distribution of such token, as well enabling smart contract research/deployment of FA2:FA2 swaps, or other FA2 tokens/stable coins.
The purpose of it’s governance is to research preservation methods of such media and other systems from the web3 ecosystem/mediums transmitting knowledge through them.
Thanks for the summary of the changes. Do I get it right that the main feed on HeN will now sort object by amount of hDAO accumulated over all time?
This brings a few questions/concerns:
Doesn’t that risk creating a feedback loop in which the same few OBJKTs stay on top because they are the most visible and keep accumulating hDAO? This is probably why Reddit doesn’t show the top upvotes of all time by default.
If the value of hDAO increases significantly, wouldn’t OBJKTs that accumulated large amount of hDAO in the early days be at an unfair advantage against OBJKTs published later and essentially impossible to kick out of the top.
Until now, the feed has been a bit chaotic but rather democratic. Now it sounds like it will become the playground of the users with the most money. How can new artists on the platform get a chance to get noticed?
Hey everyone, just a reminder that with the release of the hDAO feed on the main page, this is an opportunity to learn about the nature and functionality of the hDAO feed and reflect on how we can improve its design and execution.
I also want to remind everyone to read the Hicetnunc2000 manifesto/roadmap that was released 14 February 2021 and the original hDAO proposal in order to keep this discussion on track. By taking some time to reflect on these, let’s also take this opportunity to see how we can make suggestions that stay in line with the vision of Hicetnunc.xyz as a project.
Why not ‘simply’ make the hdao feed something where artists need to donate a portion of their objkt sales to be listed on?
For instance an artist doing a 10/10 objkt drop will donate 1 objkt to the hdao fund/ feed to get listed. This piece is displayed on a segregated hdao only feed, or at a higher level on HeN with more colours/ bold font/ ect to draw more attention/ visibility. - When that piece is sold, the profits are then shared with the artist and hdao holders. - For 1/1’s, a percentage of the sale will be shared with hdao and artist. This would start a dao fund, where artwork is collected within, that can be sold, voted on to be kept. or vote to purchase established pieces or what have you with profits, again all voted on by hdao holders. (edited)
The payout from a sale to a donating artist could also be in hDao, though i havent figured out how that could work. This would help “spread” hDao
idea from RYZ in the discord
letting minters choose XTZ, hDAO or both when minting. With all fees (in hDAO) burned to make hDAO more scarce over time.
So minters then will kind of see the benefit of choosing hDAO as a payment over tez, as long term the token will become move valuable the more it is utilized on HEN
I would personally mint on hdao only to for that reason and to try help drive the price back up
without the burning hdao aspect though, the approach wouldnt really work
Would also promote those who don’t own any hdao to buy if say jjjjohn did a hdao only drop.
If on day 1 there is say 300k hdao and I choose to sell the piece RN for either 10 tez or the equivalent 9 hdao… then in say a year of community adoption. There is now only 200k hdao left. Our original piece has gone up in value now on increased scarcity of the token alone. I think most artists/minters would agree that the incentive to sell their art is to earn a profit, otherwise you wouldn’t sell it.
If that hdao is then worth 20 tez a year later, it was a smart move listing as hdao only (edited)
I think this along with a consolidation and integration of new features would really help keep the platform alive now that there are competitors like OBJKT.com