Contribution Points($CPs) Will Fuel the Ecosystem
The Renascence Sci-fi co-creating DAO story continues, with contribution points.
Understanding that community members’ contribution and activity need to be measured in a more tangible way, we have decided to introduce the contribution points (CPs), a non-transferrable fungible token (subject to DAO voting later by nature) based on the Flow blockchain.
Why should I get contribution points?
As the name suggests, contribution points measure your contribution to the THiNG.FUND co-creating DAO. Your holdings of CPs will also determine your weighting in the DAO governance and whatever financial perks there will be.
One mechanism is staking, voting and yielding. We believe the value of a creation is at least partially determined by the attention it gets. What’s a better measure of attention than people staking real CPs in it? So the logic is clear, the more CPs staked in a creation, the higher the value it will get, and as you stake, you will gain a part of the royalties whenever the creation changes hand. In other words, what used to be raked in by platforms or agents will, in the THiNG.FUND ecosystem, be allocated, pro-rata, to CP holders.
On top of the financial gains, CPs will also determine your say in our co-creating DAO. The ideas are equally straightforward. Because we want people who care! When you make more contributions, you get more CPs and thus earn yourself greater weighting in how the DAO shall evolve. Additionally, to vote, you have to lock up your CPs, creating a deflationary system.
Of course, as the DAO evolves, there will be more use cases for the contribution points, adding to its value.
Then how can I get more CPs?
There are one-off schemes as well as routine tasks. First of all, anyone who purchased our NFT collection during the Starly drop will be automatically credited with a proportional amount of CPs. The same is true for badge holders, varied by your badge tier.
Then, as more routine ways of earning CPs, creators in the Renascence will get CPs to recognise the amount and quality of their work. But if you think you have better abilities elsewhere, you can also earn CPs by being active in the community. Do check out the cp-Alpha channel in our Discord to know your activity level in real-time.
We will also launch a volunteer and developer incentive program around February or March, where CPs will be rewarded to contributors.
Of course, as the THiNG.FUND ecosystem grows and integrates with more ecosystems, CPs will be used in more places, adding more value to it.
More importantly, you can determine the direction of the DAO wielding the power of CPs. Make it creative and fun!
So, I’ve got my badges, what next?
If you have not heard of badges yet, read this to familiarize yourself with the community honour system. Whenever someone talks about a badge, you know they belong to an exclusive club of congenial minds. That’s the case with the THiNG.FUND badge system, the core of the ecosystem. Having CPs earns you the power to decide on the direction of the DAO, but even more so when you have a badge. As we’ve promised, badge holders will enjoy privileges/ priority rights in all of our incubated or partner projects. We are also thinking about other utilities for the badge system. Vote on it, wielding the power of your badge!
Yes. As the first instance of how everything is interwoven in the THiNG.FUND ecosystem, we’ve incubated a top-quality game, developed by seasoned players from AAA game studios, the likes of Westwood studios, Tencent Boston game division, and EA to port various creations from our Artists Selective Program and the Renascence Sci-fi series into the game as NFTs, background stories and NPCs.
It will be a perfect demonstration of how the creations by ordinary people can make their way to a top-quality game played by tens or hundreds of thousands of people. What’s more, with the magic of true ownership, creators and holders of in-game NFTs will stand to earn from possessions, including token incentives, secondary royalties or airdrops. The possibilities are only limited by your imagination. Don’t waste your CPs and badges. Vote on it!
When the product comes out, badge and CP holders can expect priority in whitelisting or receive additional airdrops. No guarantees when everything is at this early stage, but we will keep working with the team on it.
What’s the timeline?
Rome wasn’t built in one day, as some things are more complex than others. For 2022, we will focus on developing more co-created content for the Renascence world, expanding the utility of CPs and introducing more ways of co-creating. We will also seek to integrate the Renascence content with more applications commercially. More details will come out soon!