DAC crowfunding bids in blockchain


#1

I was looking into DAC in general and Indicium Series A announcement thread and I was thinking that could there be more novel way to collect bids for DAC funding. Could blockchain be used to record bids and application on top of that doing all the “paper work” related to bids.

Indicium Series A collected funds using this forums messaging system. To me, that sounds like a lot of manual work to read the messages, checking address that bid is valid and recording address for distribution of DAC’s tokens.

Is it reasonable and feasible to have bids on PPC blockchain, so that bidding would be transparent and DAC issuing tokens could use data on blockchain when distributing those tokens. In this scenario, bids would be public and they would have clear trail to distributed tokens.

I’m not technically proficient in blockchain technology so I’m just trying to illustrate this idea. I guess this could be sort of extension to PeerAssets. Bidding could be tied to deck creation address, but would have different transaction behavior than creation and transfer of cards (tokens). During bidding, interest parties would have address with enough funds to participate and send transaction to blockchain to record their bid. Application with blockchain explorers could then check which bids are valid, if the funding target is achieved and how to distribute tokens.


#2

You can tie issuance to, for example, receiving ppc at the spawning address. This is not yet supported, but it can surely be done in theory, and likely wouldn’t be too hard to implement. However, this limits the type of funds the project can accept, as making a PeerAsset aware of an external chain is an unsolved dilemna.