simondlr/mememarkets

What should happen with the burned funds?

simondlr opened this issue · 1 comments

simondlr commented

As part of the current protocol design, funds are burned when paying to beneficiaries of a meme, in such a way that incentivizes beneficiaries that provably foster the meme. It's a schelling point game to give funds towards beneficiaries that are more likely for the meme to attract attention. If it is the most received beneficiary, they receive more of the funds, and less is burned.

The fee/burn to orchestrate can be used in interesting ways:

  1. Provably, and totally destroy the funds.

  2. As an overall meme markets reward. In other words, using meme markets itself, one can own a portion of the meme markets fees that are burned. #mememarkets would become a special/unique meme. Buying action coupons in this meme entitles one to the burned fees of all memes on the whole platform. This seems nice for early adoption, but a core purpose of the meme markets design is to not overly reward early adopters too much.

  3. An action coupon can be dispensed and given back a portion of the burned pot (what portion this should be, is uncertain). Thus, one can get back one's ETH if one wants to leave, but at a cost.

Any other ideas?

simondlr commented

Note: Currently, burning is not a part of the protocol anymore. For now, it's just relying on beneficiary timelocks for MVP/testing.

Burning turned out quite difficult to properly achieve as one needs to keep proper state of beneficiaries and their counters.