FutureMinds 6: Community Generosity

Let’s take the recent images of Storas as a starting point, with the goal of imagining a way to re-use it for a Peer4Commit replacement.

There are two pages of inputs described in that UI, let’s focus on that and not pay so much attention to the back-end until we know what we want. Name, Image, Description, Categories, these things I feel we could easily fill out, saying something like “updating the website to have kitten logos - 100 PPC”. The second page may provide more clarity for how this would work, however.

Expires seems straightforward, as does minimal offer. These are the requisite fields for the validity of the Peer4Commit proposal. However, we already have something of an ambiguity with “minimal offer”, represented by the asymmetry of the involved parties. Let us consider possible outcome 1 and 2. For outcome 1, this should resolve in such a way that the person who did the work is paid for their efforts. In outcome 2, this should resolve in such a way that everyone who put coin into this gets their coin back. This is a boolean yes or no, at its simplest, so that is what we will consider. This immediately faces an interesting conflict with the way Storas is performed: we would ideally like to allow anyone to donate coin to a collective cause and anyone to do the work to get that coin (with oracles as verifiers of work). However, Storas is aimed at discrete bets with a party and counterparty. If we try to project these roles onto a Peer4Commit concept, we must treat the asymmetry of the parties.

In this case, only one party locks coin, while the other only seeks to unlock it. If we consider this with only one person who gives the coin and one person who does the work then we can perhaps approach this more easily. Alice wants the website to have kitten logos and has 100 PPC. Bob knows how to code kitten logos. Charlie can determine whether kitten logos have been added to the website or not. Charlie is designated as Oracle.

This can go one of two ways, either Bob makes the Storas occurrence or Alice does. If Bob makes it, then Bob locks up no coin and the “minimal offer” is the price required for them to do the work. Bob waits until Alice fills the offer, then does the work before the deadline, then Charlie unlocks the coin for Bob. If Alice makes the original Storas occurrence then the initial offer coins are locked up and the “minimal offer” can be 0, or some finite collateral penalty if Bob fails to accomplish the task.

I believe that more or less works, then we just have to think a bit more about how to work with multiple groups, and try to avoid e.g. people making frivolous offers or accepting jobs they can’t do. Also, the example given of work on the website would require access to the back-end, which can only be done by certain parties. The vetting of the work by the oracle could get messy, as it would be difficult to keep all parties anonymous in these situations. However, if even a little of this worked, it could make for a great method of decentralized incentives across the ecosystem.