2 ms·
There are many different systems. I'd agree with you that once per second is also a bad system. Just as an alternative example. I had this idea for a commun
by swalsh 5y ago
There are many different systems. I'd agree with you that once per second is also a bad system.
Just as an alternative example. I had this idea for a community seed box, take a penny leave a penny type thing. The issue with these things is usually it's just a few people who give, and it's usually the same things. I had an idea for how to make this more fair using crypto.
Few concepts to understand before I can explain the idea:
ERC-20 - this is a fungible token, contracts can specify minting and burning independently.
AMM - Automatic Market Maker, this is a concept from defi which allows you to exchange quantities of fungible tokens for any other token. It tries to maintain a ratio, and dynamically prices things as supplies change. It's one of the fundumental concepts that makes defi work, and it works pretty well actually.
Subnet - An Avalanche (alternative ETH like blockchain) specific concept, which allows you to create a custom blockchain with a custom or standard VM (such as the EVM) and define it's own gas token (this allows you to have "free" transactions).
My Idea, was to basically turn my community take a seed leave a seed into a series of AMM's. It would work like this, you come up to the box, scan a QR code to give your wallet address, then drop some seeds into the machine. The machine would mint two ERC-20 tokens equivlent to the seeds you provided. 1 for the specific type of seed you dropped at that specific location. Another that is the "native" token for the chain. Using subnets you can make this transaction free. With the second token, you can spend it to get the seeds of your choice. As supply changes, the "price" of each seed would dynmically change. When the seeds are dispensed, the 2 tokens would be "burned" to keep the system in balance.
To take it one step further, since each "dispencer" is part of a network, there's no reason you couldn't donate your seeds in one machine, and then go to another machine on the network to get some seeds. As a network, different machines would be priced differently for the same item. This is a feature, demand is not constant geographically, this models that. If you wanted, you could abritrage the system. That too is a feature.
It's not perfect, as an automated system in the real world it could easily be exploited, but it's not meant to be a business... just a system for the commnity to FAIRLY help each other in a scaled way.