After the overwhelming positivity around the latest governance proposal, Dev Protocol is pleased to announce that the Discord market will be launched at the end of this month. With this new and latest addition, the Discord market will be considered the 3rd largest market that Dev Protocol expands to, following the prior incorporation of both the Github and YouTube markets alike. The Discord market will be deployed on Arbitrum as well as Polygon, allowing users to socially tokenize their Discord guilds (i.e. servers) and build powerful communities. You’re welcome.
Many types of DAOs adopt Discord as one of their communication tools, and we firmly believe that Discord is one of the largest platforms where users demand its social tokenization. In 2022, there’s no doubt that we’ll see the acceleration and spreading of the creator economy concept, as well as the rise and need of social tokens. By launching the Discord Market, we can invite as many creators as possible and expand the Dev Protocol ecosystem. We consider Discord as the most efficacious market at the moment in order to grow the Dev Protocol ecosystem.
Meaning of expanding markets
While Dev Protocol is popular as a protocol supporting OSS (Open source software) creators, the show doesn’t end there. Having started the journey into the Youtube market recently, Dev Protocol has taken its first steps towards expanding the creator economy into areas beyond OSS. Thanks to the YouTube market, users can now realize the social tokenization of their YouTube channels, which unlocks a whole new market dynamic between YouTubers and their fans by making great use of social tokens.
The Discord market is being added as an update at this time, and we’re planning to add many more different markets such as Twitter, Instagram etc in the near future. The size of the creator economy is crucial to Dev Protocol because with the increase in the numbers of creators using it, the demand for DEV token is expected to increase as well, driving the value of DEV token to newer heights. Briefly speaking, the creator economy itself on Dev Protocol is the value of the Dev Protocol community. That’s why we’re aiming at expanding the market to see the further development of Dev Protocol. One of our final objectives is to create a world where any creator can use the powers of Dev Protocol to grow a community.
Importance of Khaos oracle for market expansion
Khaos is one of our regularly developing projects, and serves as an “oracle”. It brings information, which doesn’t exist on blockchain, from outside of a blockchain into one. Various services outside blockchain like YouTube and Discord can be used on the Ethereum network by utilizing Khaos.
Let’s say Alice is thinking of socially tokenizing the Alice Guild in her Discord channel. Before she can mint social tokens, she needs to prove that she’s the owner of the Alice Guild. This process of authentication is done by communicating on Discord, not on blockchain. She goes on to verify her identity by posting her Personal Access Tokens (PAT) to the Discord server for authentication.
As you can see, during the process of minting social tokens, there always needs to be an exchange of information with external services outside the blockchain. Khaos makes it possible for us to smoothly communicate with them. Concealed information like PAT used for authentication can be automatically encrypted to securely oraclize it. Since Khaos is such a highly flexible library, collaboration with external services such as YouTube, Discord, and Twitter can be realized with only a few steps.
If you’re willing to develop your unique and new market with Khaos, you can add a new market by using khaos-starter-kit (Note that you’ll need a consensus of market addition in the community before you start). During the process of launching the Discord market, khaos-discord-market was developed with the basis of this starter kit. During the addition of markets, you can authenticate them by customizing the authorize function in the starter kit for each individual market.
The README of Khaos in the main module explains its overview of the oracle function. In this article (Deep Dive Khaos), you can read a more detailed description of Khaos. Please refer to it if you’re interested in developing.
Release and what lies ahead …
The Discord market will be released as our new market at the end of this month. This expansion will lead to the extension of the Dev Protocol creator economy and the value refinement of the DEV token itself. We will continue to proactively expand our markets beyond OSS, further enhancing and cementing Dev Protocol as the leading name in the space of the Creator Economy market.