Symbiosis - Creator Tokens and Dev Protocol

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Symbiosis permalink

Symbiosis is the short or long-term interaction between two organisms of different species, this relationship can be mutualistic, commensalistic or parasitic.

Mutualism is a long-term relationship where individuals of both species benefit from having a relationship with each other. Commensalism is the relationship where only one has a positive benefit from it, the other is neither a positively or negatively affected. Parasitism is the relationship where one individual gets benefited at the expense of the other.

Symbiosis - Creator Tokens and Dev Protocol

Dev Protocol permalink

Dev Protocol is an open source middleware that brings sustainable funding and fair economic value to Open Source Software (OSS) and in the future, every kind of Creator. Blockchain Technology, through the Stakes Social dapp, is used to create a system based in social and financial mutualism, where both Patrons and Creators get financial benefits through Staking Rewards.

Creator Tokens permalink

Social Tokens are fungible or non-fungible tokens that allows Creators to create a Subeconomy based on their own work or their own identity.

On the context of Dev Protocol, these Social fungible tokens are called Creator tokens, they are minted on the process of onboarding Stakes Social. These tokens are a powerful tool that can make their work or identity more valuable, expand and reward their community and fully capture the impact Creators have in the world.

These Tokens could be distributed or sold to fans or community members, the economic design and incentives developed by the Creator could be an extremely powerful tool to generate incentives and value to their own Creator Economy.

There are a few ways to make the Creator Token more valuable, for example:

  • Give token holders access to premium content, merchandise, classes, NFTs, events, 'prioritize bugs & features' (see below); everything that can be made exclusive by the Creator.

Symbiosis - Creator Tokens and Dev Protocol

  • Create a DAO, give that Creator token voting rights, being able to influence content and the direction of the work can be valuable for the community members. The creator or the DAO could also reward community members for tasks or work using those tokens, keeping them engaged and adding value to the project.

This way community members and investors could buy tokens of new and talented Creators, funding them while maintaining a strong dedicated community.

Symbiosis - Creator Tokens and Dev Protocol

Creator Tokens and Dev Protocol permalink

As previously mentioned Stakes Social already creates a mutually beneficial environment, both Stakers and Creators get paid in DEV, Stakers take the risk of investing and are rewarded for it, Creators get sustainably funded by these Patrons.

If we take away the benefit that Stakes Social provides - making the APY 0% - and only leave the the tokens minted, the Creators would have to create a mutually beneficial incentive system to attract more stakers and token holders, reward them for the risk they're taking while designing a way to fund themselves.

This behavior can be seen right now on Stakes Social, projects that give more benefits, like governance voting rights, NFTs or give back more DEV, on top of the APY, tend to get more stakers. Projects that talk about Dev Protocol, bring new users and help the ecosystem grow with a subeconomy involving the DEV token also get more stakers, since this perceived benefit of the promoted growth is also seen as mutually beneficial by the Dev Protocol community members.

The possibility of creating their own economy gives Creators powers not seen anywhere else outside of blockchain and they could use their best asset - creativity - to make it unique and valuable. If Creators want to maximize their funding, growth and community building, they should design use cases for their tokens while keeping in mind the symbiosis concept, developing a mutualistic ecosystem where users or holders get rewarded as well, this is the key to sustainability.

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- Dev Protocol releases all codes as OSS in public. Your contributions are welcome.(Sometimes there are bounties.)
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- DIP (Dev Improvement Proposal) process is also released. We’re looking forward to seeing your comments on it.🌟