farahbrunache/travay-colony-vuejs-dapp

Create a slide and FAQ on how we monetize

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farahbrunache commented

Create an explanation of how money gets into our colony. The source of funds and the mechanisms for it getting into the system.

bubblenote commented

I'm still thinking about this, but as creators of the colony, we would set the TokenSupplyCeiling. Based on what I'm reading, we would have pots[1] be our working capital and infuse it with our tokens. 1% of the tokens would go to pots[0], the rewards pots. On creation of the colony, we would create the first domains and sub divisions into tasks and decide how to allocate tokens to those pots from pots[1] with our funding proposals. As more users join the platform and earn tokens/reputation, they have say in the funding queue through funding proposals.

I would still like clarity on what we defined as a "colony"; is it our decentralized community jobs board? Also, how would the colony itself generate revenue? Or is it non-profit?

farahbrunache commented

So I am thinking that the colony is a for-profit decentralized long-term jobs market.

The first jobs posted [by us since no one has a reputation yet] would be around social impact/community building. Moving forward we can have people with the most reputation continually post jobs.

  1. People who post jobs, would be the people that fund those jobs
  2. there would be a second pot where anyone in the world could contribute to. Essentially providing pay increases and sustainability in funding for certain positions. For example. Alice in country "A" is passionate about the environment. Bob in country "B" is also passionate about the environment and lives in country "B". But country "B" doesn't have working capital to fund environmental issues. Why not Alice directly fund someone's salary to do good vs sending it to a centralized location
  3. We the colony would charge a nominal fee for running the colony. This fee would pay for operations AND be used as redistribution to either those with a higher reputation OR recycled to fund newly posted jobs, and what new jobs get the additional funding would be based on those in the colony voting.

Ultimately, I like your path of thinking. If I understand correctly 1% fee goes to colony, we can take an additional 1% fee for managing our portion....

I realize I haven't definitively answered your question. But if you draft something up that combines all of our thoughts, we can collectively eliminate and expand to come to a decision on the finalize strategy.

iainbarclay commented
bubblenote commented

Good point @iainbarclay! A not-for-profit aligns with our brand of social good when the capital is reinvested in the community. @farahbrunache I was thinking:

  • The colony could make revenue by selling goods to help complete jobs (ie. Shovels to collect trash). We could initially create some supplies for certain tasks, then have others be able to sell supplies for earning more tokens, which would further help with distribution.
  • Yes, the 1% fee is the rewards that goes proportionally to members holding tokens and reputation
  • The other 99% goes to working capital to fund jobs where they become part of general fund allocation of regulation and priority funding proposals.
  • As for the different tokens (Ether and Travay token), the white paper states that when a colony earns revenue via its own token, the token is directly transferred to working capital, while Ether is split 90% working capital and 10% rewards (Percentages can vary depending on colony-wide vote). I wonder if we can use the Travay token as payment tokens to confer reputation.
iainbarclay commented

I think initial monetisation for task work would need to be through sponsorship or donation (as EthBounties network bounties are) - buying, holding, selling stock is out of scope I'd have thought.

farahbrunache commented

For the context for this MVP we should keep a narrow focus on a long term jobs market. Selling of goods sounds like mission creep. But is something we can include as a roadmap item.

In terms of monetization I think we should also stick with it being drieved from the jobs posted. My goal is economic mobility which is achieved not through donations but through jobs and buying power.

As an initial way to reciece additional funding for jobs is the pot where anyone can donate. But don't want the colony to depend on it.

So as a break down 1% to colony, 1% to travay and 98% pay out to the worker.

The person who posts the job must fund that job. And they can submit proposals to solicit donations to help or add to the funding of the job. I want to ensure that workers are paid. And have recurring income rather than getting just a gig job.

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bubblenote commented

@farahbrunache Ok, started to see what you mean. For monetization, I think we still need to set a token supply and decide which jobs get funded when the colony is created unless you think otherwise.

Also, can you clarify what you consider as a colony. If Travay is the long-term job market, would a colony be a specific country or group of people?

iainbarclay commented

@bubblenote Travay is the colony, its just the name they give to any community built on the Colony platform. I'd say the goal of our colony is to create economic mobility by means of a long-term job market.

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farahbrunache commented

@bubblenote understood about the token supply. Can you and @iainbarclay assist me in deciding what the token supply number should be? Once a decision is made I'll update the code.

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