Weekly Review
All roads lead to Rome. And because of this, CommDAO needs a new roadmap! For we are going forward into the future, rather than back towards the past. So, this review will attempt to outline a new structure for viewing our path, and organization as a whole, over the next several months, a crucial stage of formation, as we prepare to enter the 4th week of July 2022.
First, a brief look at the history of CommDAO will show an early speculative roadmap on our Discord that creates a detailed path towards obtaining AirBNB properties utilizing new methods of blockchain technology. That is no longer the primary thrust of our organization’s focus.
I refer to this period as the first significant protocol of Community DAO, in the direction of tokenizing vacation rental properties and developing a platform for fractionalizing real estate through an entity that became known as Community CRE (Commercial Real Estate). Several early founders inspired the Community to develop significant material demonstrating how this type of new emerging industry could occur, with many papers, designs, interviews and discussions about it. It was a fantastic honeymoon period but many goals were unrealistic.
Those associated with this stage also saw some significant barriers to developing this business further, from within the DAO, a diffuse international body operating in different time zones and following several different personal or collaborative paths. Thus, in time, these individuals moved on with their protocol, into a new stage of development apart from CommDAO proper, though the DAO remains a thoroughfare of many key players in the Real Estate Tokenization industry, and a living point of interaction, as we develop our first virtual property and an active team of realtors who can effectively interact on the specifics of an internationally accessible piece of real estate, within the Metaverse.
So, what originally seemed to be the driving focus of the organization, essentially became a first generated protocol by the network effect present in the DAO. At this stage, several of our remaining curators recognized that the organization was pointing to something larger, beyond any particular commercial endeavor or single focus project. And that larger backdrop was something akin to a “perpetual protocol generating body.” That’s what all communities ultimately are and in the case of Community DAO, this began to take on a universal aspect, as the theme was embedded in our name, and as a symbol, it stood for the entire web3 movement.
The first significant success was in attracting a large digital design crew, predominantly from Africa, that was hungry to produce content, and that was only limited in size by the fumbling inherent in an early stage where demand outruns supply, in this case, the supply of time, money, and understanding of the early founding team, which had created a party, before the banquet was fully ready to serve. But this also was CommDAO’s initial score, out of thin air an active group was born, and an international collaboration began between 1st and 3rd worlds, in itself a bigger project than any necessarily local based, narrower focused realty operation, requiring a tight knit centralized team on the ground, with everyone on the same page of regional jurisdiction, restrictions, unique compliance regulations etc.
The pearl that fell into our laps was something else altogether. We caught the eye of Africa with a promise of a $50 share of ownership in paradise and the democratization of access to property ownership internationally. But the nature of that paradise remained to be determined - was it an actual bungalow in Costa Rica, or maybe a skyscraper in a virtual world, that everyone could actually visit anytime they wanted to go online? Or maybe it was the paradise of an ever-evolving new concept worth fresh attention, week after week, an ever present mirage.
The nature of web3 is the anterior development of a network effect, prior to any bottom lines. Understanding the needs of a specific community takes time and what needed to be addressed initially were ways to cultivate the activities and energies of an international content creation group collaborating in the same space. To that end, we developed a logo, early governance bodies, and ultimately, a token on a blockchain, in order to facilitate the circulation of a store of credit. These were all organic responses to issues that began arising out of the nature of group effort, regardless of any conscious intention or planned focus on a commercially oriented goal.
Now, up to the present, the organization is at the stage where investment is necessary in order to incentivize significant further participation. That is a goal that must be met sooner than later, preferably by the end of August. Let’s say that by Labor Day Weekend 2022, key investments must be lined up in order to galvanize the community into further action.
To that end, apart from building out our website: https://commdao.org/, I have begun writing grants, entering competitions, and networking through the venture capital space. Newcomers entering the Community can do their part by joining our Ambassador Marketing team, writing for our weekly journal Commlink, bringing us fresh leads, using our educational resources to understand our positioning and current projects, interacting on our social media forums, and promoting us through word of mouth, thereby attracting new friends into CommDAO. We engage in weekly contests, discussions, and interactions within the greater web3 space worldwide, and the Ravencoin community online, the native blockchain of our own token, the C0MM, minted on March 31st, 2022.
There are 3 primary areas that we must pay attention to in our efforts to refine the organization and grow it as a valid entity into the future, with a clear purpose. They are:
1/ Financing the CommTower in Sky City, a virtual world metaverse built by Alterverse. Summer-Fall 2022 - (Ask = $25-50K)
The CommTower is a 25-40 story skyscraper intended to be CommDAO’s 1st owned property.
It will also serve as a structure around which Community DAO builds a primary governance body, C0MM/CLUB, based on the fractionalized accumulation of a $50 token, out of an 8 billion non-reissuable supply, a number based on the current estimated population of the planet Earth. This is intended to be a worldwide organization.
These tokens will signify levels of membership and various access/ownership privileges in the CommTower, as well as governance capacities for voting.
The plan of the NFT token sale will pay off initial financing thru VCs and then some, creating a growing fund for CommDAO into the future - 8 billion tokens at $50 apiece is $4.5 billion USD.
While this is the initial speculative internal fundraising mechanism for CommDAO, it is just the beginning of economic possibilities when the tower opens publicly this Fall, coordinated with the official public launch of Sky City.
The NFT sale will not begin until there are at least 500 members in our Discord.
2/ Stimulating our international Marketing Ambassador Squad (Ask = $25K) Summer/Fall/Winter-2023
The earliest sign of viral activity within our organization was the rapid response, especially in Africa, primarily Nigeria, of eager digital designers wanting to serve our organization with regular content creation.
This team could be tapped into the 1000s, theoretically, for any project that needs talking up, advertising, shilling, circulating, popularizing, etc.
Crypto payments are created through a weekly series of contests, where top designs are selected by curating founders. By imposing standards of excellence on the squad, causing them to compete in a meritorious fashion, we organically cull quality content, and also train newer designers by giving them standards from which they can measure improvement.
Initial goal will be to have a team of 100 before the new year 2023 begins.
3/ Funding a Research Think Tank (Ask = $25K) - Summer/Fall/Winter 2022
This body will be administered initially by Alina Okun, DBA, a leading academic researcher in the emerging DAO industry and Editor of Commlink, our weekly publication.
It will consist of a collaborative group of research analysts who write papers geared towards improving the DAO as new information arises, in marketing focus or governance areas, enhancing CommDAO’s ability to synthesize the latest with the greatest, and keeping our organization at the cutting edge of the industry.
Funds will be used here to solicit articles from leading thinkers and offset costs/living expenses of contributors during periods when they are working on CommDAO projects.
Goalposts in the Roadmap
Seed Investments
August 1 - Labor Day 2022 - Monday, September 5, 2022NFT sale- access/ownership to Commtower (500 in Discord)
Sept 5 - Dec 31, 2022Commtower open for business in Sky City
October 1, 2022Formal voting processes and governance body operation worked out
Winter 2023Weekly round-up design contests
IndefiniteWeekly contributions to Commlink
IndefiniteGreeting fellow members in the Community
Daily😊
Stats
Twitter Followers: 1,165
Discord Members: 429
Alina’s Alignment
Governance and Democracy in DAOs are a Hard Problem
Governance is an important part of any social organization. It defines how power is distributed and used, who bears responsibility for decisions and actions, and how conflicts are resolved when people disagree with each other.
Governance in decentralized autonomous organizations (DAOs) is hard because it requires us to rethink many of our assumptions about democracy and political participation.
The DAO governance model
The DAO governance model is a radical departure from the traditional corporate governance models. It promises to give power back to shareholders and users while also providing them with greater transparency and accountability.
The DAO’s goal is to create a decentralized alternative to conventional corporate structures that will revolutionize the way we work. The idea behind this concept is that companies would operate without management hierarchies, instead relying on smart contracts and community-driven voting mechanisms to make decisions.
The DAO framework is based on smart contracts, which run on a blockchain and allow for the execution of code without requiring human intervention. The contracts are decentralized, meaning there is no central authority that can alter them once they have been deployed onto the blockchain. Instead, any changes must be made through consensus among all users who have stakes in the contract (called token holders).
How do we get people to participate?
One of the biggest challenges facing DAOs is ensuring that all members can have their voices heard. This is especially true in the context of decentralized governance, where any member can submit proposals and potentially make decisions on behalf of the entire organization.
Operating without management hierarchies is an exciting idea but also a hard problem. How do we make sure that members are motivated to contribute their best work? How do we ensure that people vote in their own self-interest? How do we keep people from gaming the system?
There are many different proposals on how DAOs should be governed. Some of them are based on direct democracy, where token holders vote on every decision. Others are based on representative democracy, and some others use a combination of both systems.
For a DAO to be successful, its members must be motivated to participate in decision-making processes. One way to do this is through incentive structures that reward voting behavior. However, incentivizing participation may not always be enough; it’s important to understand why people are voting and what they hope to gain from it.
One approach that has been proposed is using reputation systems as an incentive for participation. The idea here is that by making good decisions, members can earn tokens or other forms of recognition that give them more power within the organization (i.e., a larger say in decision-making).
A better governance model for a better world
"It has been said that democracy is the worst form of government except all the others that have been tried." - Winston Churchill
DAOs provide us with a unique opportunity to rethink how we can make our organizations more efficient and trustworthy. The current model is deeply flawed. The decision-making process is outdated and centralized, which results in bad outcomes.
DAOs are an early experiment in a new governance model. It's not perfect, but it's a start. The biggest issue is that DAO governance is hard to implement.
We need to make sure that DAOs have a well-designed governance model. There are many ways to design this model, but there have been no clear guidelines on how to do so.
A few suggestions that have been proposed:
We need a clear definition of the purpose of a DAO and its governance process. Every DAO has some purpose (e.g., climate change), and we need to make sure that it aligns with its core values (e.g., transparency). This will help to make sure that the DAO can achieve its goals while staying true to itself.
We need better tools for managing voting in a decentralized way. The existing tools don’t work well when voting becomes too complex (i.e., when there are too many options or people).
Conclusion
DAOs will play a significant role in the future because they represent the next step on our evolutionary journey from hierarchical structures to decentralized models where individuals and organizations can thrive without being dependent on centralized authorities for their survival and growth.
Danoskie’s Developments
Road to Sky City
As the development of alternative universes continues, more organizations and firms continue to grow and develop their own ecosystems.
This, in turn, makes the Metaverse a safer place for crypto investors by offering them a visual representation of their digital investments as NFTs (non-fungible tokens).
An NFT is a digital asset stored on a blockchain, which is a form of a distributed ledger.
The Metaverse visions and dreams keep growing day by day, engaging many creative project developers in developing real-life art, animations of characters, and making scenes to represent human nature and its habitat.
As the saying goes, "Anything that feeds on nutritious meals must grow," the same has been the case with Metaverse. It has attracted a large number of people who want to explore its ecosystem in search of a suitable position for their projects.
The big house of Metaverse got bigger with the development of the Alterverse, a gaming and world-building universe, where users can play and create an infinite number of interconnected games.
The Alterverse Program
The Alterverse program is a futuristic, free-to-play, play-to-earn (P2E) metaverse gaming experience that gives users the opportunity to develop their projects on the available platforms like Sky City on a planet called Aureus. This is where the early pioneers decided to make their home, only because the atmosphere was too heavy on the planet’s surface to breathe easily. Towering platforms, called "HaloSpheres2, were built high in the sky.
With more to be done, AlterVerse aims to be an open, interconnected, and decentralized metaverse experience, with many collaborations and partnerships across NFT games, blockchains, crypto platforms, retail and ecommerce brands, DAOs, NFT artists, and many more to come when the project is launched.
Currently, the AlterVerse has a massive list of features already completed, including VR compatibility, in-game voice chat, customizable avatars, robust combat systems, ranks and stats systems, multiple weapons types, affiliate program, hunting and fishing, rideable mounts, alliance/team system, interactive, talking NPC’s, decentralized server architecture, and more. This is where The Community DAO CommTower will be built, right there in the Sky City main plaza.
In the spirit of collaboration, AlterVerse will also be integrating the entire catalog of Enjin Multiverse items into their games. That's great news for Metaverse lovers.
Sky City
According to Enjin.io, Sky City, an AlterVerse project, offers many attractions for different businesses and organizations, including:
An epiCenter central hub, filled with shops, skyscrapers, event halls and more
Modern homes, luxury apartments, and high-rise condos
Club Sky City, where you can dance the night away
Stadium for live battles, sports, concerts, and other events
Marina and Yacht Club
Renowned NFT Art Gallery
Arnold’s Diner (50’s style restaurant) to grab a bite to eat
Jet-powered Sky Cars for flying from HaloSphere to HaloSphere
Speedy hover vehicles to hop in and drive around the track
Challenges, quests, and mini-games galore
The game is currently in closed access, preparing for token launch and public beta launch in 2022.
Sky City is the widely known and available project of the Alterverse Metaverse crypto project. The players will be allowed to go to one of many available OutPost servers. OutPost is set aboard giant Space Stations. Based on the data and proof presented to the world, it appears to be the First Person Shooter style game, with quests, mining and crafting.
The players or users can own and customize their own Crew Room, fly the wonderful and powerful XR75 Fighter ships, socialize and compete in a variety of contests. In the Sky City games, the OutPost is replacing the older game Disruption.
Sky City is a mesmerizing free-to-play metaverse city. Sky City will definitely serve as a central hub of the pronounced Enjin-based game. It will be located in the cloud of planet Aureus.
Sky City will enable players to trade their digital assets, customize characters, earn tokens for engaging in activities and gaming, and much more. What a wonderful Alterverse world.
What more can I say?
In Sky City, there is a need to make it as realistic as possible. The developers added an in-game voice chat along with Weather Transitions and Full Day and Night Cycles. It's a new world already.
A news release by AlterVerse Inc. blog, Sky City will feature the following:
Halospheres
The city will feature 16 massive Halospheres. These Halospheres will float around the central Plaza where the players will land. In Halospheres, there will be NFT plots of land for sale for anyone who is interested.
Forest Biome
Sky City will also feature forest biomes where the players can look for and gather some valuable resources to craft antique furniture and building parts. In the forest, there could be game animals, puzzles to be solved, and games to play like Jurassic Park.
The Central Shopping Plaza
Apart from featuring more than 80 retail shops and apartments, the Central Shopping Plaza will include a Deathmatch arena and a Hover Car Track. Get ready to buy from the best retailers and sellers of all kinds of merchandise.
This and much more will come to your doorstep as we look forward to the launch of Alterverse and its amazing Sky City.
Hand in there.
The Economic Impacts of Adopting Bitcoin for Buying and Selling
Bitcoin is a new financial asset which was first designed by Satoshi Nakamoto, comprising a peer-to-peer electronic cash system that permits online payments directly from one side without interacting with any financial institution. Instead, it is built on a secure algorithm that keeps track of all transactions. Bitcoin’s exchange potential is based on its low transaction costs, peer-to-peer system, and global and governmental architecture. However, the system’s opacity and lack of adoption of Bitcoin within transaction schemes may deter consumers. Therefore, contrary to other financial assets, Bitcoin has no connection with any governing body or physical representation (Kliestik et al. 2020). As a result, Bitcoin is not connected to any regulatory organization or physical representation, compared to any other financial asset(s), and its value is unaffected by fixed assets or the state of the economy.
Its massive expansion poses a radical and serious challenge to politicians and policy-makers, since digital currency represents money and, at the same time, opens up new horizons for enterprises and business opportunities. According to Inventivia, Bitcoin has been a prominent topic of discussion in the media, governing organizations, and academic community because of its rapidly rising inflation. Notwithstanding the intense interest of the media, Bitcoin hasn't yet been subjected to a thorough theoretical examination, creating room for more investigation and exploration. On the other hand, Bitcoin poses significant difficulties and opportunities for policymakers, economists, entrepreneurs, and consumers. Cryptocurrencies are gaining users’ trust by making the entire history of transactions available to the public. The record of transactions keeps track of all Bitcoin users’ behavior patterns in exchange.
The question of what effects Bitcoin would have when it becomes a widely adopted form of payment for goods and services globally leads to highly speculative answers. There are positive and negative outcomes that can arise from the adoption. To understand the eventual outcomes, it is also important to have a general view of Bitcoin’s journey to becoming a relatively popular alternative payment option. A general verdict of the digital currency’s outlook is that it is graduating to become similar to traditional currencies. According to Ivypandy, the current difference is that Bitcoin is not yet dispensable by retail bank institutions or businesses, but there are establishments that are supporting such functions in some non-formalized ways. People can bank their Bitcoins or even invest in them. Another similarity that is developing is in exchange forums.
Cryptocurrency has its impact on the economy, hence some countries are scared of adopting it. For instance, if Bitcoin is primarily used to pay for goods and services, it will face stiff competition from fiat currencies like the US dollar. This will significantly impact fiat currencies and the central bank’s monetary policy. If, on the other hand, this digital money is used for sensible investments, it will either compete fiercely with a vast number of other consumable assets, such as bonds, stocks, and commodities, or it will play a minor role using data mining. Russian Deputy Prime Minister Dmitry Chernyshenko has reportedly signed a roadmap to regulate crypto operations in Russia. The news comes after Russia’s central bank published a consultation paper that proposed a blanket ban on crypto-related activity in the country. Although Russia has stopped short of completely stifling operations inside its borders, the latest events follow a broader trend of nations struggling to embrace cryptocurrency. Future bans or regulations will determine the future of the industry. China has banned cryptocurrency trading multiple times. An outright ban on crypto mining last year was a massive loss to the industry, as most crypto mining happened in China. Mining involves running software on computer servers to solve cryptographic algorithms. This process validates transactions and maintains a shared record of transactions across the blockchain network. People who participate, the “miners” are automatically rewarded in cryptocurrency. Some other countries have also banned the use of cryptocurrency, with others placing heavy regulations on it as well.
These economic impacts would include:
Bitcoins work electronically and anyone who has a Bitcoin wallet can accept or issue payment with Bitcoin. Therefore, allowing many people to have Bitcoin wallets is the only requirement for ensuring smooth transactions from the consumer’s side. They can be implemented in many payment methods, such as mobile payments and wireless payments.
Bitcoin cannot be manipulated in its generation method because the authentication and generation frameworks for mathematics rely on detached processes that have to coordinate results in a way that would be impossible for a single entity to control. The Bitcoin software is open source, thereby allowing people to examine and correct flaws, as well as create applications that enhance its capabilities. Therefore, different governments and businesses can find better ways of enhancing the convenience of paying through bitcoins.
Setting up a bank account is difficult compared to how easy it is to come up with a Bitcoin address. Besides, the process does not include any fees. Therefore, Bitcoin payments can significantly increase the uptake of formal payments. A user can have as many addresses to use for payment, and there is no use of names as identities. Besides, the payment process is transparent because every transaction that ever happened in the network is recorded on the blockchain.
Government entities can make their addresses public so that anyone can tell how many coins they have. Private individuals can see all coins at a particular address, but they cannot tell their owner. The biggest advantage is that transferring Bitcoin is free, irrespective of the amount and the distance. Besides, as an electronic transaction, the transaction reflects instantly in the networks that process Bitcoin payments.
Some of the disadvantages of Bitcoin are just the flipside of its advantages. For example, anonymity makes it hard for governments to track money laundering activities, and the Bitcoin proceeds can be from illegal activities. It is not easy to freeze Bitcoin addresses, as it is to freeze bank accounts.
Another problem that comes with anonymity is that if someone gains access to a Bitcoin address and steals Bitcoins by transferring them, then the money cannot be recovered. However, the culprit can be found using investigative techniques and be compelled to issue a refund (Sparkes). Bitcoins are finite in number, which makes them valuable with every increase in demand.
Bitcoin is currently valued at about US $22,280, and the price has been increasing. It is, therefore, the strongest currency in the world. Adoption of Bitcoin would mean that all countries in the world have a chance to have strong currencies without having to pay heavily for pegging costs.
Continued mining of Bitcoins implies that soon the real value of the currency will be apparent. Given that Bitcoin is the only cryptographically based currency to achieve mass adoption, its real value is significant for its adoption. It is like cash because individuals do not have to sign their names or transaction records when making payments. It is also like credit cards that facilitate convenient wireless payments.
Bitcoin adoption will eliminate rent-seeking intermediaries that currently work with money transfer transactions. Moreover, Bitcoin will not succumb to barriers of national borders. The next effect is that the cost of transactions will reduce significantly, leading to the affordability of goods and services (Carmody).
In conclusion, Bitcoin will open up international money transfers, which will limit governments’ ability to manage monetary policies. The adoption of Bitcoin will also erode a significant source of income for middlemen in forex trades. Nevertheless, the positive impacts are notable. Many people who do not have worthy credit or other means of getting into formal banking systems can use Bitcoin when it is implemented in mobile money solutions and other forms of conveniences. The reduction in transaction charges overall and the simplicity of Bitcoin as it functions similar to cash are the most attractive features to look out for when it becomes a recognized currency. Besides, the possible applications are infinite, especially for people in poor economies currently locked out of ways of participating in the global economy.
Non-Fungible Fungi 🍄🍄🍄
What is DeFi? Everything You Need to Know
Around the world, today, banks and financial institutions continue to be the powerhouse of transactions and revenues generated, stored, and collected. But this has been a major problem. Why? Because it makes it extremely difficult for owners of these funds to have full autonomy or control over their assets.
Banks take in cash deposits, make interest-bearing loans, and pay out some of what they receive as interest to depositors. Usually, they’ll rinse and repeat this profit-generating process, with investors getting a piece of the action through interest paid on their savings accounts.
Banks and financial institutions offer a centralized system of transactions, making it difficult to maintain autonomy and transparency. The emergence of blockchain technology has led to an alternative solution for finance. It is possible now for fund owners to have full control and autonomy over whatever assets they possess. This solution is DeFi.
What is DeFi?
Decentralized Finance, also known as DeFi, offers financial methods without relying on middlemen, such as banks and brokers, through the use of smart contracts on a blockchain network. With DeFi, people can lend, borrow funds from others, and still have full autonomy as to price actions on these assets. More specifically, DeFi aims to create an open-source and more transparent financial ecosystem without any central authority. The users have full control and access over their assets and interact with this ecosystem through decentralized applications or a peer-2-peer module.
The core benefit of DeFi is a structure where financial services can be easily accessible, providing an interoperable system through the use of blockchain.
Brief History
There are few events that shaped the emergence of Defi. Let’s explore those events.
BITCOIN
Bitcoin laid the foundation of decentralized finance when it was launched in 2009. Its inception was the critical enabler for the whole DeFi industry. It was because of the limitations of great Bitcoin that Ethereum came about. Bitcoin was limited to only sending payments around the world. But other financial services like lending and borrowing were important, so Ethereum was created.
ETHEREUM
This is the second blockchain after Bitcoin launched in 2015 and the first blockchain that powers smart contracts. Ethereum was built to solve the complex functionality of trading, lending, borrowing, staking, and so on (all together called Decentralized Finance). Ethereum is involved in Initial Coin Offerings, storing data, privacy from third parties, and politics. Other decentralized applications built on Ethereum include games, web browsing, advertising, identity management, supply chain management, NFTs, DACs, DAOs, and many more financial applications.
The first pioneer and oldest Defi project on Ethereum is Maker. The project launched in 2017, was founded by Rune Christensen in 2014, and has been the source of the decentralized stablecoin called DAI. It is also one of the important projects in Defi as it enables merchants and traders to store their assets in a stable currency that doesn’t pose a threat or is barely affected by market fluctuations.
In 2017, a major use case of Ethereum became widespread and well-known — ICO. When an organization wants to raise capital to grow their start-up business, coin, or app to the next level, they adopt the initial coin offering method. Instead of using the conventional bank method of raising funds, these organizations use the decentralized method by giving out their tokens in exchange for Ethereum coins. Because of the superfluity of Initial Coin Offering, some projects have been exaggerated to what they are not. Some Defi projects that took advantage of the ICO technology include Aave, REN, Ox, Bancor, and lots more.
Benefits of DeFi
As the world continues to evolve, developments continue to emerge and a domino effect has been set in motion. DeFi has taken its place in our current reality and possible future. Here are some of its major advantages:
Permissionless:
Compared to Centralized Finance (CeFi) or Traditional Finance (TradFi), DeFi is defined by its open, permissionless access. Anyone with a crypto wallet and an internet connection can access a “smart-contract” supported blockchain and DeFi applications, regardless of geography, and often without a minimum amount of funds required.
Programmability:
Highly programmable smart contracts (codes) automate execution and facilitate the invention of new financial instruments and digital assets without human interference.
Immutability:
Information stored and distributed successfully into the blockchain is “tamper-proof,” making it almost impossible for the data stored to be manipulated. This increases security and audibility.
Self-Custody:
Through the use of Web3 or crypto-supported wallets, there’s complete control over owned finances, and interaction with permissionless financial applications and protocols, such as the DeFi markets (e.g, Exchanges) are seamlessly carried out.
Use Cases for DeFi
DeFi is gradually becoming adopted and has a lot of valuable use cases, such as:
Money banking services:
Most banking services include the issuance of stablecoins (cryptocurrency) as legal tender and, in most cases, used as mortgages and insurance.
Loans:
Open loans are one of the most common applications within the DeFi ecosystem. DeFi platforms connect borrowers with lenders. As long as you give the required amount of cryptocurrency, you can always borrow. There’s no need for a credit check or limitations on how much you can borrow. Blockchain technology facilitates a lower counterparty risk, offering cheaper, faster loans without geographical limitations.
GemeFi or Play-to-Earn:
The electronic gaming industry has adopted decentralized technologies, enabling users of this platform to be rewarded for their in-game skills and use with DeFi coins.
Yield Farming:
Yield Farming (Liquidity Mining) is a process that allows users to interact with DeFi platforms and invest their digital resources. In turn, the investors will be incentivized according to the rules that govern the smart contract used for deployment.
DECENTRALIZED FINANCE (DeFi) is not without risks and is in its infancy, although more discoveries and developments are being made to make the use of DeFi more effective and safer. It is safe to say that DeFi we are heading in the right direction of economic growth.
Ambassador Report
Our weekly goals continue to increase from making memes and infographics to creating artistic designs such as GMs minted on WAGMI NFT operating on Ravencoin blockchain. This, in return, expanded our reach and level of creativity in the Web3 busy world. The Community DAO must be known and established in the minds of many operating in web3.
Leaderboard/Ranking
Rank Twitter username
Dani_BeeHive
Yhuddee111
Mkay_vic
Banacubana
Meme Design Contest
We continue our weekly design contests. This week our focus is memes!!!! 500 RVN and 5000 C0MM paid out across 10 selections. And 100 RVN/1000 C0MM for the top performing meme. This is fun! Wonder what next week’s focus will be?
Results for this week are as follows:
The top performing Meme for this week was:
Congratulations to Yhuddee111!!! (100 RVN/1000 C0MM)
Foundation Top 5 Meme Designs (50 RVN/500 C0MM paid to each selection)
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Marketing Top 5 Meme Designs (50 RVN/500 C0MM paid to each selection)
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Great job, guys! The more participation we get, the more contests and crypto will be available to top designers. Keep up the hard work!
Kirton Call
[From Insider Trading Everywhere - by Doug Pepe, July 21, 2022]
DOJ and SEC Press Novel Insider Trading Claims
…the Department of Justice and SEC brought first-of-their-kind actions against three individuals for insider trading of crypto assets.
The facts are straightforward. Ishan Wahi was on the Coinbase asset listing team. That position gave him access to confidential details about future Coinbase listings. Ishan allegedly passed this sensitive information to his brother and friend. They traded in the tokens, reaping significant profits when Coinbase announced the listings and the token prices spiked.
Not a good idea. Coinbase apparently got wind of this and reported it to the government…
—
[From Chapter 7 - What Others Think - The Practicing Stoic: A Philosophical User’s Manual, by Ward Farnsworth. David R. Godine Publisher, London 2018]
This chapter considers the Stoic way of looking at approval and criticism - that is, what others think. The approval may be the immediate kind that we call praise or the collective type known as fame; the criticism may be insult or infamy. This chapter can also be considered a Stoic examination of vanity and pride, for these all are eternals of a common family. They involve social life: the desire for status within it and for the good opinion of others. Most people seek those things as intensely as they chase money or pleasure, and work just as hard to avoid the loss of them.
The first rule of this branch of Stoic teaching is contempt for conformity, for the opinion of the majority, for the habit of looking to others when thinking about what to prefer and how to act. The problem runs deep. A large share of what most people say, think, and do is a product of convention. Its force is hard to resist because getting in line with what others expect causes them to think well of us. Deviating from it tends to be punished swiftly by others who are more comfortable saying, doing, and enforcing what is expected. Much of Stoicism is the effort to see the truth and act on it, and to learn a noble contempt for the consequences that follow.
Turning to details, then, the Stoics regard the appetite for praise as one of the mainsprings of conformity in particular and human behavior in general. They set out to tame it. They start by asking why we care what others say and think about us, especially when the others are people we probably do not hold in notably high esteem. The Stoic develops a distrust for popular judgments, and a suspicion of people and things that have mass appeal. Stoicism tries instead to substitute a greater respect for one’s own opinions, and practice at valuing things for what they are rather than for what anyone else thinks about them.
The other side of our topic is criticism and insult. Of course the Stoic urges indifference to these things. They are externals we can’t control. But the Stoics also offer specific ways to think about attacks and respond to them. One is to regard the contempt of others with contempt (or to regard the others themselves with contempt), or to welcome the contempt when it is earned by doing the right thing. Any of these responses is better than fearing the opinions of others; for once one goes down that road, there is no end to it.
Another family of responses involves humility and forgiveness. Stoics usually can accept insults in good humor by reflecting that any such criticism probably understates their true faults; they are comfortable enough with self-inflicted ridicule to be unconcerned when others add to it. A second recourse is to make an assessment of the criticism. If we are criticized justly, we should accept it and change (or accept it and be done). If we are criticized unjustly, the critics are mistaken and entitled to compassion. They meant well, or at least said what seemed right and best to their limited capacities.
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[From Portion White Paper]
Portion is a platform and marketplace for digital and physical art and collectibles.
Portion bridges art, collectibles, and crypto. Through Portion’s smart contracts and distributed technology, art and collectibles enters a new market.
Portion offers a suite of enterprise solutions including software licensing and financial services to enterprises and consumers…
Built on the Ethereum Blockchain, Portion’s value proposition is simple: provide a transparent and trusted means to track provenance and exchange authentic, high-value goods in exchange for cryptocurrency…
The art and collectibles world and the burgeoning world of crypto are both elusive and esoteric lands without clear paths of navigation. The art and collectibles market is the largest unregulated industry in the world (after drugs). With this unregulated air of mystery, inherent barriers prevent artists and collectors from entering this art market entirely. A lack of transparency has made this industry ripe for bad actors and fraudulent activity. Portion’s blockchain technology creates immutable records of authenticity and provenance mitigating risk with fraud and counterfeits, in a legally compliant manner.
Portion’s marketplace democratizes these seemingly enigmatic worlds by using technology to eliminate the gatekeepers. The commission taken out of an artist’s proceeds by a traditional dealer or e-commerce site can run upwards of 30-50% of a sale. Portion aims to give creators (artists, brands, retailers) direct access to collectors without bloated fees and intermediaries. Portion’s marketplace enables these creators to sell works directly to collectors with minimal fees…