dApp Portal function
Last updated
Last updated
Creators have the opportunity to contribute their post royalties to other users' #Collectives, empowering impactful initiatives such as #SaveTheOceans and #NoSewageInMyWater, and extending the reach and influence of social causes.
Upon the creation of Collective Membership Tokens, App users can offer to purchase these tokens from creators, gaining proportional ownership of the #Collective and its associated NFTs and Treasury. This can be done through in-app purchases or decentralized cryptocurrencies via the dApp, granting members voting rights and participation within the #Collective.
The smart contract governing the Collective sets out the governance procedure for dealing with (initially) four key matters:
Distribution of any royalties received into the Collective’s treasury i.e. the ability to propose and vote on Treasury beneficiaries;
Propose, vote and set the creative license (for example, the “Can’t Be Evil NFT License” embedded as a PDF within the #Collective, however, this could also be real world assets such as the deeds to a house) embedded on blockchain to the NFT assets and #Collective;
Propose, vote and set the minimum threshold needed to make a proposal. By default the smart contract sets a minimum holding of 65,000 Collective Membership Tokens in order to make a proposal;
Propose, vote and set the buy-out price of the #Collective. This is the sales price of the entire #Collective;
Other proposal types that have been developed and are being introduced to the dApp include:
Propose, vote and (dis)agree the sale of entire #Collective which effectively transfers ownership to a new wallet address, with the sales price being deposited within the Treasury so Collective Membership Token holders can redeem proportional value to their holding;
Propose, vote and (dis)agree the sale of a NFT asset held by the #Collective;
Proposal types specifically applicable for the #LivetreeCollective (i.e. the entire Livetree network):
Propose, vote and (dis)agree the feature weighting on machine learning recommendation engine
Propose, vote and (dis)agree on content category weightings
Propose, vote and (dis)agree on the censorship of flagged posts
Propose, vote and (dis)agree on automatic assignment of the Treasury toward carbon credit
Propose, vote and (dis)agree adding additional blockchain support
Propose, vote and (dis)agree adding additional wallet support
Propose, vote and (dis)agree the revenue split between the creators and Livetree network
More proposal types will be developed as the App evolves.
The governance of the #Collectives operates on a majority rule, with 51% of the on-chain membership coins required to pass a proposal. Each user's #Collective starts with 1 million membership coins, and 51% (510,000 coins by default) is needed for a proposal to pass. Once passed, an 'Execute' button is available in the dApp to automatically execute the proposal. This decentralized voting system ensures that the outcome cannot be changed by Livetree or anyone else, as it relies on blockchain technology. Users can vote 'For', 'Against', or 'Abstain', with 'Abstain' votes reducing the total required for a proposal to pass. For instance, if 50% abstain, only 26% voting 'For' would be needed to pass the proposal.
Members holding Collective Membership Tokens have the right to receive a proportional share of the royalties collected by their associated #Collective. They can redeem their tokens for a percentage of the treasury held by the #Collective, which accumulates income from posts tagged with the collective's #name. The treasury value is stored in the native cryptocurrency of the collective, such as Glimmer (GLMR) for Moonbeam, MOVR for Moonriver, CELO for Celo, UNQ for Unique, QTZ for Quartz, or ETH for Ethereum. By destroying their membership tokens, holders can access their portion of the treasury, reducing the total number of tokens and increasing their scarcity. The point in time value of one membership token can be calculated by dividing the treasury balance by the total number of tokens. This design aligns with a proven business model that includes pay-per-view, live ticket sales, e-gift rewards, and other revenue streams, enhancing the token's valuation through game-theory principles.
Members of the Collective can choose to either retain Collective Tokens, or exchange them with other persons (including non-members who wish to ‘buy in’ to the Collective), or list them on digital exchanges (subject to the Collective Tokens being accepted by such exchanges). The dApp provides the ability for users to exchange (buy and sell) tokens between members.
The #LivetreeCollective treasury is paid in the following proportions subject to the global collective governance: currently approximately 5% fee is charged by #LivetreeCollective infrastructure on each transaction (see the Platform Fees section of this document for a detailed breakdown); and remaining 95% to the creators #Collective’s treasury. The #LivetreeCollective, which represents the entire Livetree network, operates on the Moonbeam blockchain and utilizes the Glimmer (GLMR) cryptocurrency as its treasury. The governance of the #LivetreeCollective treasury is democratically controlled through the Seed NFT Collective (SEDC) tokens, following the same smart contract principles as all other collectives in the network.
SEDC Collective Tokens hold the same functionality as other #Collective Tokens, enabling voting and governance, but with a broader scope that encompasses the entire Livetree platform. Proposals can be made and voted upon transparently using SEDC Tokens, allowing the community to actively participate in decision-making processes related to various aspects of the Livetree network, such as A.I. machine learning, content recommendation, censorship policies, and treasury allocation. The purpose of SEDC Tokens is to empower all creators with control over the Livetree network. These tokens are distributed to users as rewards or through the purchase of Collective Tokens within the Livetree app, and can be converted from off-chain coins to on-chain SEDC Tokens via the dApp website. This design ensures that users can seamlessly engage with the app without needing to understand blockchain technology, and SEDC Tokens can also be exchanged for specific #Collective Tokens via the dApp website.
For more infomation regarding how dApp Portal works please visit Livetree Tutorials hub:
