**Price increase:** How frequently, and by how much, does the $TOKEN's price increase within the stage? | -| **Split** | What percentage of $TOKEN issuance (and buybacks) are set aside for a list of recipients, and which address is the split operator? The split operator can add, remove, or modify recipients on that list, changing how the split is allocated within the fixed percentage set for the stage. | +| **$TOKEN Price** | **Starting price:** How much does it cost to buy a single $TOKEN when the stage begins? The payment's value stays within the revnet and can only be accessed by $TOKEN holders who cash out or take out loans.
**Price increase:** How frequently, and by how much, does the $TOKEN's price increase within the stage? | +| **Split** | What percentage of $TOKEN issuance (and buybacks) are set aside for a list of split recipients, and which address is the split operator? The split operator can add and remove recipients from the split list, changing how the split is allocated within the fixed percentage set for the stage. | | **Automint** | How many $TOKENs get minted to a list of recipients at the start of the stage? This functions like a "pre-mint" only accessible once the stage has started. | -| **Cash out tax** | How much does the revnet's next potential cash out increase each time a $TOKEN holder cashes out? This sets a cash out price that gets better as others cash out or new funds come in. The cash out tax is specified with a number 0-1, with 0.99 being the most intense tax and 0 being no tax. | +| **Cash out tax** | How much does the revnet's next potential cash out increase each time a $TOKEN holder cashes out? This means each revnet always quotes a cash out exchange rate that gets better as others cash out, take out loans, or new funds come in. The cash out tax is specified with a number 0-1, with 0.99 being the most intense tax and 0 being no tax. | -It inherits some useful properties from Juicebox V4: +Revnets inherit some useful properties from Juicebox V4: - **AMM Liquidity:** If $TOKEN holders add liquidity to an AMM[^3] and it offers a better price than the revnet, the revnet will route incoming payments to that market instead of issuing new $TOKENs. The revnet's split is applied to these buybacks as well. - **Multicurrency:** A revnet can accept and hold any number of assets received as revenue, though it defines its $TOKEN price in one consistent currency. If it issues 1,000 $TOKENs per ETH and the revnet is paid some USDC, $TOKENs are issued given the current USDC/ETH price. The revnet can be set up to either hold the USDC received and allow its $TOKEN holders to cash out from this balance, or auto-swap the USDC for an asset it prefers to hold. The network's $TOKENs are backed by the assets it chooses to hold, inheriting their risks and opportunities. - **Omni-chain:** Revnets can grow to accept money on new EVM-compatible networks[^4] as they emerge, and also offer cash outs on those networks. Holders can move their $TOKENs between chains. When they do, the revnet automatically moves its assets so that the $TOKENs maintain their underlying value. @@ -219,11 +246,11 @@ It inherits some useful properties from Juicebox V4: Notice, revnets can be tuned to achieve various outcomes. They are not cheatcodes for entrepreneurs and investors lacking earnest real world insight, nor capital magnets for those expecting a free lunch. They still take strategy, risk, storytelling, and execution, amplifying those who follow through. Each revnet should consider its own unique circumstances when navigating the following tuning decisions: -- **Choosing a price:** revnets with infrequent and shallow price decreases leave room for more equal access over time to entice newcomers, but may lack energy from incumbent participants whose contributions are less recognized. -- **Choosing a cash out tax:** revnets with a larger cash out tax reward more committed participants, but give everyone less access to liquidity. +- **Choosing a price:** revnets with infrequent and shallow price decreases leave room for more equal access over time to entice newcomers, but may lack energy from incumbent participants whose contributions and timing are less distinguished. +- **Choosing a cash out tax:** revnets with a larger cash out tax reward more committed participants, but give everyone less access to liquidity and loans. - **Choosing token distribution:** revnets with splits or automints can acknowledge the non-financial forms of participation which are often the subjects around which they revolve, but also can create scoped management burdens requiring more trust. -There is no such thing as an apriori ideal tuning of a revnets rules, just as there was never an apriori perfect Bitcoin halvening timeframe or fixed supply number. A successful tuning is one that manages to convey the right incentives – either on purpose or on accident – to stimulate growth over time. +There is no such thing as an a priori ideal tuning of a revnets rules, just as there was never an apriori perfect Bitcoin halvening timeframe or fixed supply number. A successful tuning is one that manages to convey the right incentives – either on purpose or on accident – to stimulate growth over time. Three effects to visually note: @@ -238,13 +265,15 @@ Three effects to visually note: #### Loans -A revnet can be set to offer its $TOKEN holders loans from its asset base by holding the $TOKENs of the borrower as collateral. This allows for overcollateralized loans at a risk-free rate while also generating revenue, a win-win from the perspective of the revnet's $TOKEN cash out price. +Since each revnet's $TOKENs have a cash out value that can never decrease, the tokens make for great loan collateral. Instead of cashing out, $TOKEN holders might prefer to use them as collateral for a loan they can pay back over time to access their $TOKENs again. The loan provider can cash out the collateral if the loan isn't paid back. + +Revnets themselves offer these loans to its $TOKEN holders by lending out its asset base in exchange for holding onto the borrower's $TOKENs as collateral. This allows for overcollateralized loans at a risk-free rate while also generating revenue by putting its assets to work, a win ultimately for the revnet $TOKEN's cash out price. Each revnet has loans as a baked in revenue model by default. -This means $TOKEN holders are incentivized to prefer that their revnet loans out as much as possible, as each new loan permanently increases the cash out value of all $TOKENs. Every $TOKEN holder has equal access to loans at all times. +$TOKEN holders are incentivized to prefer that their revnet loans out as much as possible, as each new loan permanently increases the cash out value of all $TOKENs. Every $TOKEN holder has equal access to loans at all times, at a rate equivalent to the cash out rate. Loans can last a maximum of 10 years. A borrower can choose to pay over time at a rate that linearly increases as the loan duration approaches 10 years, choose to pre-pay for the loan at half the cost, or mixed – prepay for some duration and continue on paying full price if its still not paid off. This revenue goes to the revnet itself, issuing or buying back more $TOKENs for the borrower. -Loans from all revnets also incur a 2.5% $NANA fee and a 0.5% $REV fee, in addition to this fee charged to the revnet being borrowed from. +Loans from all revnets also incur a 2.5% $NANA fee and a 0.5% $REV fee, in addition to the afore mentioned fee charged to the revnet being borrowed from. ### 2.3 $REV @@ -252,38 +281,37 @@ RRG is setting up $REV's revnet rules attempting to emphasize the following prin - **Simple:** Its rules play out in 3 stages that should be easy to think about, with occasional important shifts that feel ceremonial. - **Self-owned growth:** It should make sure all participants who will sustain its growth – investors, builders, storytellers, fans, donors, fee-paying retail consumers – feel like it benefits them. - **Clear incentives, from startup to scale:** It should make both elders and newcomers feel like it acknowledges risks and contributions over time. -- **Inefficient rent seeking:** It should have a reliable immunity instinct that efficiently protects and rewards productivity. -- **Flexible:** RRG will steward a meaningful token split affording it some operational flexibility, which is a responsibility it can minimize and revoke down the road. It will assume some trust from supporters. +- **Just flexible enough:** RRG will steward a meaningful token split affording it some operational flexibility, which is a responsibility it can minimize and revoke down the road. It will assume some trust from supporters. #### $REV stage 1 -_Price increases by 50% every 90 days. 40% of issuance and buybacks to Revnet Research Group. Automint an initial supply to acknowledge pre-net work. Cashing out leaves some money on the table._ +_Price increases by 50% every 90 days. 38% of issuance and buybacks to Revnet Research Group. Automint an initial supply to acknowledge pre-net work. Cashing out leaves some money on the table._ | **Rule** | **Value** | |--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | **Duration** | 720 days (~2 years). | | **Initial price** | 1 $REV costs 0.001 ETH. | | **Price increase** | Increase by 50% every 90 days. | -| **Split** | 40% split of issuance and buybacks operated by `rrg.eth`. | +| **Split** | 38% split of issuance and buybacks operated by `rrg.eth`. | | **Automint** | 69,000 $REV to `rrg.eth` for pre-launch work. | | **Cash out tax** | Medium (0.5). The network consolidates when holders cash out. | -> RRG can shape the split distribution within the hardwired 40% over time (or relinquish the power), and will receive the initial automint. Prospectively, the 40% split will have 27% routed to `rrg.eth`, and 13% to `dao.jbx.eth`. The 69,000 automint will have 25,000 sent to `dao.jbx.eth` (JuiceboxDAO), 10,000 to `breadfruit.eth`, 10,000 to `filipv.eth`, 10,000 to `codalabs.eth`, 4,000 to `openesquire.eth`, 2,000 to `kmacb.eth`, 2,000 to `0xba5ed.eth`, 2,000 to `noobwonder.eth`, 2,000 to [Peel](https://juicebox.money/@peel), 1,000 to `drgorilla.eth`, 1,000 to `peacenode.eth`, 500 to [Juicecast](https://juicebox.money/@juicecast), and 500 to LJ. +> RRG can shape the split distribution within the hardwired 38% over time (or relinquish the power), and will receive the initial automint. Prospectively, the 38% split will have 30% routed to `rrg.eth`, and 8% to `dao.jbx.eth`. The 69,000 automint will have 25,000 sent to `dao.jbx.eth` (JuiceboxDAO), 10,000 to `breadfruit.eth`, 10,000 to `filipv.eth`, 10,000 to `codalabs.eth`, 4,000 to `openesquire.eth`, 2,000 to `kmacb.eth`, 2,000 to `0xba5ed.eth`, 2,000 to `noobwonder.eth`, 2,000 to [Peel](https://juicebox.money/@peel), 1,000 to `drgorilla.eth`, 1,000 to `peacenode.eth`, 500 to [Juicecast](https://juicebox.money/@juicecast), and 500 to LJ. ##### $REV stage 2 -_Starts 2 years after the revnet is deployed. Price continues increase by 50% every 180 days. 40% of issuance and buybacks continue to Revnet Research Group. Automint a vested supply to acknowledge pre-net work. Cashing out still leaves some money on the table._ +_Starts 2 years after the revnet is deployed. Price continues increase by 50% every 180 days. 38% of issuance and buybacks continue to Revnet Research Group. Automint a vested supply to acknowledge pre-net work. Cashing out still leaves some money on the table._ | **Rule** | **Value** | |--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | **Duration** | 6,480 days. (~18 years) | | **Initial price** | Where stage 1 left off. | | **Price increase** | Increase by 50% every 180 days. | -| **Split** | No change. 40% of issuance and buybacks operated by `rrg.eth`. | +| **Split** | No change. 38% of issuance and buybacks operated by `rrg.eth`. | | **Automint** | 127,000 $REV to `rrg.eth` for pre-net work. | | **Cash out tax** | No change. Medium (0.5). | -> Prospectively, the 40% split will be have 8% burnt, 20% routed to `rrg.eth`, 12% to `dao.jbx.eth`. The 127,000 automint will have 35,000 sent to `dao.jbx.eth`, 20,000 to `breadfruit.eth`, 20,000 to `filipv.eth`, 20,000 to `codalabs.eth`, 10,000 to `openesquire.eth`, 5,000 to `kmacb.eth`, 5,000 to `0xba5ed.eth`, 5,000 to `noobwonder.eth`, 5,000 to [Peel](https://juicebox.money/@peel), 1,000 to `drgorilla.eth`, 1,000 to `peacenode.eth`, 500 to [Juicecast](https://juicebox.money/@juicecast), and 500 to LJ. +> Prospectively, the 38% split will be have 8% burnt, 20% routed to `rrg.eth`, 10% to `dao.jbx.eth`. The 127,000 automint will have 35,000 sent to `dao.jbx.eth`, 20,000 to `breadfruit.eth`, 20,000 to `filipv.eth`, 20,000 to `codalabs.eth`, 10,000 to `openesquire.eth`, 5,000 to `kmacb.eth`, 5,000 to `0xba5ed.eth`, 5,000 to `noobwonder.eth`, 5,000 to [Peel](https://juicebox.money/@peel), 1,000 to `drgorilla.eth`, 1,000 to `peacenode.eth`, 500 to [Juicecast](https://juicebox.money/@juicecast), and 500 to LJ. ##### $REV stage 3 _No more issuance. 10% of issuance and buybacks to Revnet Research Group. Cashing out leaves less money on the table._ @@ -305,9 +333,9 @@ We want to especially encourage investors to join who see potential use for revn Both token-comfortable people interacting directly from their favorite EVM blockchain, and token-curious people interacting using traditional methods through RF1, are welcome. -### 2.3 Revnet Research Group (RRG) +### 2.4 Revnet Research Group (RRG) -We'll use an LLC named Revnet Research Group to support the revnet ecosystem and help it interface with conventional tech and finance sectors. +We'll use an LLC named Revnet Research Group to support the revnet ecosystem and help it interface with conventional tech and finance. We think it's important for RRG to set an example of how a corporate partnership can be successful as a scoped subcomponent of a public onchain revnet structure, in this case $REV. @@ -319,42 +347,57 @@ In the short term, we need to make sure the upcoming revnets have a great chance #### Bottom line -RRG will achieve its mission in three ways: build and market a great [revnet.app](https://revnet.app) – the trusted web link to browse and participate in revnets through, leverage its $REV balance towards marketing and ecosystem development, and accelerating new revnets with consulting, funding, tools, and staff. +RRG will achieve its mission in three ways: build and market a great [revnet.app](https://revnet.app) – the trusted web link to browse and participate in revnets through, leverage its $REV balance towards marketing and ecosystem development, and accelerate new revnets with consulting, funding, tools, and staff. RRG will also have leverage to charge fees when facilitating access to revnets for traditional institutions. #### Structure -RRG, LLC will be a Delaware-based entity primarily engaged in investing in $REV tokens and the development of the #REV ecosystem. The LLC will have four members: Jango, Filip, Aeolian, and KMac. Given its member-managed structure, these individuals will actively participate in the management and decision-making processes of the LLC, ensuring a hands-on approach to both investment strategies and ecosystem development. The primary business activities will include acquiring and holding $REV tokens, as well as fostering growth and innovation within the Revnet ecosystem through various initiatives and partnerships. +RRG, LLC will be a Delaware-based entity primarily engaged in investing in $REV tokens and the development of the #REV ecosystem. The LLC will be a single member LLC: Jango. Given its member-managed structure, these individuals will actively participate in the management and decision-making processes of the LLC, ensuring a hands-on approach to both investment strategies and ecosystem development. The primary business activities will include acquiring and holding $REV tokens, as well as fostering growth and innovation within the Revnet ecosystem through various initiatives and partnerships. #### Onchain management -Onchain, RRG will manage its $REV with a 3/6 multisig at `rrg.eth`. The multisig is controlled by: +Onchain, RRG will manage its $REV with a 3/5 multisig at `rrg.eth`. The multisig is controlled by: - `breadfruit.eth` (jango) -- `filipv.eth` (Filip) -- `codalabs.eth` (Aeolian) -- `kmac.eth` (Kmac) +- `0xBa5ed.eth` (0xBa5ed) +- `noobwonder.eth` (nowonder) +- `johnnyd.eth` (johnnyd) - `dao.jbx.eth` (JuiceboxDAO) - `openesquire.eth` (Robert Leonhard) #### Offchain management -Offchain management of the corporation will be led by Jango, Filip, Aeolian, KMac, Robert, and other members of the Juicebox community: +Offchain management of the corporation will be led by Jango, with legal counsel from Robert and with help from other members of the Juicebox community, including 0xBa5ed, JohnnyD, Wraeth, Nowonder – among those most knowledgable about Juicebox smart contracts and client-side SDKs. -[Jango](https://jango.eth.sucks) founded and has developed the [Juicebox](https://juicebox.money) protocol to support organizational money experiments on the public internet. +[Jango](https://jango.eth.sucks) cofounded and has developed the [Juicebox](https://juicebox.money) protocol to support organizational money experiments on the public internet over the past 4 years. -[Filip](https://filip.world) has been working on Juicebox since November 2021, focusing on documentation, off-chain tools and services, and frontend development, as well as directly supporting many Juicebox project creators. +Robert Leonhard is the co-founder of [Open Esquire](https://openesq.tech), a group of legal engineers serving Ethereum projects and many Juicebox projects. -[Aeolian](https://x.com/aeolianeth) has been working on Juicebox since November 2021, and leading the development of [juicebox.money](https://juicebox.money) since 2022. Aeolian also makes essential tools to support the Juicebox ecosystem: [juicescan.io](https://www.juicescan.io), the [Juicebox SDK](https://github.com/Bananapus/juice-sdk-v4), and the in-progress [revnet.app](https://revnet.app). +0xBa5ed has been working on Juicebox since 2022, helping to author and secure the protocol's smart contracts, with a focus on its cross-chain aspects. -[KMac](https://kmacb.eth.limo) is an experienced entrepreneur who has been contributing to multiple DAOs including Solace, Purple, Juicebox and Defifa. +JohnnyD has been working on Juicebox since 2022, helping write the juicebox.money ecosystem explorer. + +Wraeth has been working on Juicebox since 2022, helping write the juicebox.money ecosystem explorer. + +Nowonder has been working on Juicebox since 2023, helping to write a complete testing suit for the JuiceboxV4 protocol and all of its contractual components. -Robert Leonhard is the co-founder of [Open Esquire](https://openesq.tech), a group of legal engineers serving Ethereum projects and many Juicebox projects. #### Spend -RRG will use the $REV it earns to support the launch, security, and distribution of revnet.app and associated revnets. We will staff jango (project/tech lead), filip (ops/tech lead), aeolian (consumer/tech lead), kmac (marketing/tech lead), and rob (legal). +RRG will use the $REV it earns to support the launch, security, and distribution of revnet.app and associated revnets. We will + +1. staff jango (project/contract/tech lead). +2. staff 0xBa5ed and Nowonder as dev tooling and contract security leads. +3. staff JohnnyD and Wraeth as client-side leads for revnet.app (since aeolian will be handing off development once deployed). +4. staff kmac (bizdev). +5. retain rob (legal). + +[Aeolian](https://x.com/aeolianeth) has been working on Juicebox since November 2021, and leading the development of [juicebox.money](https://juicebox.money) since 2022. Aeolian also makes essential tools to support the Juicebox ecosystem: [juicescan.io](https://www.juicescan.io), the [Juicebox SDK](https://github.com/Bananapus/juice-sdk-v4), and the in-progress [revnet.app](https://revnet.app). + +[Filip](https://filip.world) has been working on Juicebox since November 2021, focusing on documentation, off-chain tools and services, and frontend development, as well as directly supporting many Juicebox project creators. + +[KMac](https://kmacb.eth.limo) is an experienced entrepreneur who has been contributing to multiple DAOs including Solace, Purple, Juicebox and Defifa. The technical and product todos include: - iterate on revnet.app to best serve revnet participation and creation. @@ -363,55 +406,46 @@ The technical and product todos include: The marketing todos include: - tell the revnet story. -- support the success of the initial cohort of revnets by telling each of their stories. +- support the success of the initial cohort of revnets by telling each of their stories. See section 3 for examples. - create a trustworthy brand. - run a "This Ad is funded by a revnet" campaign, and other concepts. -### 2.5 RF1 +The partnership todos include: +- make the case to founders, DAOs, and VCs that they should be structuring their deals as revnets. +- mediate between offchain interactions and onchain revnet transactions on behalf of traditional partners. +- build relationships with the support structures of each blockchain revnets operate on. -There will also be a Rev Fund 1, LLC, a Delaware-based private investment fund structured as a limited liability company. Its primary focus will be on investing in $REV projects, with an investment mandate managed by a registered investment advisor (RIA). The fund will target private investors who meet the standard accreditation and qualification criteria, complying with the 3(c)(1) exemption under the Investment Company Act. Capital will be raised through a private placement offering, with investors committing to specified minimum investment amounts. The RIA managing the fund will charge a 2% management fee, ensuring dedicated oversight and strategic investment in the $REV ecosystem. This fee structure aligns with industry standards, providing transparency and incentivizing effective fund management. - -More about RF1 soon. +#### Contact Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). -### 2.6 FAQ - -#### How would revnets work in the context of traditional capitalization structures? +### 2.5 RF1 -Revnets can complement and enhance traditional equity structures, making them applicable not only to crypto-native companies but also to more conventional corporations and organizations. +There will also be a Rev Fund 1, LLC, a Delaware-based private investment fund structured as a limited liability company. Its primary focus will be on investing in $REV projects, with an investment mandate managed by a registered investment advisor (RIA). The fund will target private investors who meet the standard accreditation and qualification criteria, complying with the 3(c)(1) exemption under the Investment Company Act. Capital will be raised through a private placement offering, with investors committing to specified minimum investment amounts. The RIA managing the fund will charge a 2% management fee, ensuring dedicated oversight and strategic investment in the $REV ecosystem. This fee structure aligns with industry standards, providing transparency and incentivizing effective fund management. -Corporations and associations like C-Corps, LLCs, UNAs, DAOs, and 501(c)(3) nonprofits can benefit from their own revnet by involving customers and community members as active participants in their growth. The revnet can be used to drive new revenue streams, increase engagement, and aligning the success of the revnet with its own financial performance. +More about RF1 soon. -These organizations can act as both token holders and split operators. As a token holder, a corporation benefits directly from the growth of the revnet, as its tokens appreciate in value. As a split operator, the organization can determine how much control it wants over the token supply: +### 2.6 Visual flows -- **Full control:** The organization could set up the revnet to receive 100% of the tokens, allowing it to maintain full control over the token distribution and benefits. -- **No Control:** Alternatively, it could choose to receive 0% of the tokens, relinquishing control to the broader community to encourage decentralized growth. -- **Partial control:** The organization might opt for a middle ground, controlling a portion of the token supply for a set period. +The following pay flow, cash out flow, and borrow flow illustrate each user journey and how fees are taken. -This flexibility allows traditional organizations to tailor the revnet to their specific needs and goals. Meanwhile, the revnet remains resiliant to being rugged by the entity, as doing so will incure the exit tax and benefit remaining holders most. Everyone involved is incentivizes to grow the revnet, even if there also exits other incentives alongside to grow a for-profit or non-profit traditional organization – in ideal cases these go hand-in-hand. +
In turn, JuiceboxDAO, $NANA, and $REV benefit from the productive use of its protocols and the distribution of a Banny brand that's rooted in Juicebox lore, from V4 activity that adds value to $NANA, and revnet activity that adds value to $REV. | -| **Edge** | If character-based storytelling is key to relatability, $BANNY and BBO are uniquely positioned to distribute the values that Banny has grown synonymous with over the years, while making the novel token-based concepts it's associated with approachable. | +| **Value prop** | Captures revenues from the [Banny shop](https://shop.banny.eth.sucks). | +| **$BANNY distribution** | Banny Looks, LLC (BLLC) & JuiceboxDAO will each start out with some initial supply. BLLC will retain a percentage of supply as $BANNY are issued or bought back. | +| **Big bet** | Banny's relatability and bluntness can make him/her a modern internet fashion icon, and the BLLC production team is ripe to make it happen. If Banny successfully reflects internet culture back to itself, making modern tech culture's ambitions and hypocrisy relatable through the propagation of fashion, stories, and values, Banny can be the hero of post-platform internet fashion.
In turn, JuiceboxDAO, $NANA, and $REV benefit from the productive use of its protocols and the distribution of a Banny brand that's rooted in Juicebox lore, from V4 activity that adds value to $NANA, and revnet activity that adds value to $REV. | +| **Edge** | If character-based storytelling is key to relatability, $BANNY and BLLC are uniquely positioned to distribute the values that Banny has grown synonymous with over the years, while making the novel token-based concepts it's associated with approachable. | | **Risks** | There's a sea of content out there, it'll likely take persistence and increasingly better writing to break through. | -### 3.4 $SUCKS +### $SUCKS | | | |------|--------| | **Site** | [https://eth.sucks](https://eth.sucks) | @@ -474,31 +545,35 @@ Below are some other revnets we're helping launch this next year within each of | **Risks** | Maintaining an ENS proxy can be time consuming, expensive, and hard to automate. | -### 3.5 $CROPTOP +### $CPN +Croptop Publishing Network + | | | |------|--------| | **Site** | [https://croptop.eth.sucks](https://croptop.eth.sucks) | | **Business model category** | Direct sales | | **Organizational category** | Onchain | | **Value prop** | Collects a 2.5% fee from mints made from Croptop templates, a simple IPFS-based peer-to-peer website template with content feeds and revenue streams baked in. | -| **Big bet** | In order to be widely adopted, IPFS-based peer-to-peer websites need to be easy to deploy and easy to attach to ENS names. The croptop Mac app fulfills this ease.
As the template is increasingly used to onboard folks to the decentralized website stack and serve their content, $CROPTOP will benefit from a 2.5% fee taken on all mints originating from it. | -| **Edge** | If content propegation benefits from being collectable, $CROPTOP and the community supporting it are uniquely positioned to remove barriers from publishing and minting across any number of blockchains. | +| **Big bet** | In order to be widely adopted, IPFS-based peer-to-peer websites need to be easy to deploy and easy to attach to ENS names. The croptop Mac app fulfills this ease.
As the template is increasingly used to onboard folks to the decentralized website stack and serve their content, $CPN will benefit from a 2.5% fee taken on all mints originating from it. | +| **Edge** | If content propegation benefits from being collectable, $CPN and the community supporting it are uniquely positioned to remove barriers from publishing and minting across any number of blockchains. | | **Risks** | Croptop templates can be adapted and served as folks wish, there is no way to enforce the fee at a programmatic level. | -### 3.6 $DEFIFA +### $DGN +Defifa Gaming Network + | | | |------|--------| | **Site** | [https://defifa.net](https://defifa.net) | | **Business model category** | Direct sales | | **Organizational category** | Hybrid | | **Value prop** | Captures revenues from defifa prediction games. | -| **$DEFIFA distribution** | Defifa Ballkids & JuiceboxDAO will each start out with some initial supply. Defifa Ballkids will retain a percentage of supply as its issued or bought back. | -| **Big bet** | People enjoy playing games, making predictions, and being a part of cultural moments. Defifa allows prediction games to resolve based only on community engagement, no oracles necessary. The lack of a need for oracles means games can be created around any cultural moment at any time. Games can then be used as a fundraising or revenue component of other networks, adding dimension and interactivity to existing networks.
As more games are played, $DEFIFA will benefit from a 2.5% fee taken on all paid out funds originating from them. | -| **Edge** | If the need for oracles reduce the landscape of playable prediction games onchain, $DEFIFA and the Defifa Research Group are uniquely positioned to open up new niche prediction markets for communities to play that benefit players involved. | +| **$DGN distribution** | Defifa Ballkids & JuiceboxDAO will each start out with some initial supply. Defifa Ballkids will retain a percentage of supply as its issued or bought back. | +| **Big bet** | People enjoy playing games, making predictions, and being a part of cultural moments. Defifa allows prediction games to resolve based only on community engagement, no oracles necessary. The lack of a need for oracles means games can be created around any cultural moment at any time. Games can then be used as a fundraising or revenue component of other networks, adding dimension and interactivity to existing networks.
As more games are played, $DGN will benefit from a 2.5% fee taken on all paid out funds originating from them. | +| **Edge** | If the need for oracles reduce the landscape of playable prediction games onchain, $DGN and the Defifa Research Group are uniquely positioned to open up new niche prediction markets for communities to play that benefit players involved. | | **Risks** | Defifa games lean on social consensus to determine outcomes. Games resolve based on the outcome agreed on by players, not necessary the actual real world outcome. Incentives are designed to align these two outcomes, but there are no guarantees. | -### 3.7 $NANCE +### $NANCE | | | |------|--------| | **Site** | [https://nance.app](https://nance.app) | @@ -510,12 +585,48 @@ Below are some other revnets we're helping launch this next year within each of | **Edge** | If tokenized governance continues to be a sought-after coordination exercise for online groups, Nance has a strong track record of helping organizations manage millions of dollars and is uniquely positioned to guide folks towards best practices that encourage participation while avoiding pitfalls of power struggle. | | **Risks** | Nance runs a server-based service, using crypto only for its users' data backups and for its own business model operations. This interaction of web2 and web3 is novel and lacks best practices, we're making intricate decisions involving tradeoffs as we develop tools such as Nance and revnets. | +### 3.4 FAQ + +#### How would revnets work in the context of traditional capitalization structures? + +Revnets can complement and enhance traditional equity structures, making them applicable not only to crypto-native companies but also to more conventional corporations and organizations. + +Corporations and associations like C-Corps, LLCs, UNAs, DAOs, and 501(c)(3) nonprofits can benefit from their own revnet by involving customers and community members as active participants in their growth. The revnet can be used to drive new revenue streams, increase engagement, and aligning the success of the revnet with its own financial performance. + +These organizations can act as both token holders and split operators. As a token holder, a corporation benefits directly from the growth of the revnet, as its tokens appreciate in value. As a split operator, the organization can determine how much control it wants over the token supply: + +- **Full control:** The organization could set up the revnet to receive 100% of the tokens, allowing it to maintain full control over the token distribution and benefits. +- **No Control:** Alternatively, it could choose to receive 0% of the tokens, relinquishing control to the broader community to encourage decentralized growth. +- **Partial control:** The organization might opt for a middle ground, controlling a portion of the token supply for a set period. + +This flexibility allows traditional organizations to tailor the revnet to their specific needs and goals. Meanwhile, the revnet remains resiliant to being rugged by the entity, as doing so will incure the exit tax and benefit remaining holders most. Everyone involved is incentivizes to grow the revnet, even if there also exits other incentives alongside to grow a for-profit or non-profit traditional organization – in ideal cases these go hand-in-hand. + +Revnet Research Group (RRG) exemplifies this approach by taking a 40% split of the $REV revnet. This means RRG retains a significant stake in the revnet's growth while leaving 60% of the tokens to the broader community, incentivizing collective participation and shared success. + +#### What are the risks I should be aware of? + +**Smart contract risk**: Revnets are built using the Juicebox V4 protocol which can exist across multiple EVM blockchains. Though it is a fork and iteration of Juicebox V3 that secures tens of millions of dollars in locked value on Ethereum mainnet, there is the possibility of smart contract bugs that cause the system to collapse. JuiceboxDAO has spent the better part of the last year's time and budget on testing, documentation, and hiring third party auditors, though it is always encouraging more eyes on the open source code base. Ultimately, smart contract security comes from production lindiness while managing funds at risk. + +**Organizational risk**: $REV runs on its own and has no organizational risk. RRG and $JBX on the other hand, do have organizational risks exposed through the same governance means that affords them certain flexibilities to pursue emergent opportunities. Engaging with either RRG or $JBX should warrant due diligence to understand how decisions have been made and how they'll likely continue to be made within those organizations. + +**Market risk**: RRG is a for-profit organization that will look to build its $REV exposure and harness its specialization in revnets to become successful. We believe revnets are marketable and can outcompete alternative organizational structures, but this is an unproven thesis with projects outside of our own. Choosing an organizational token structure is a big decision that each project tends to make only once and stick to forever afterward. It's hard to become the standard structure, but once the standard is set it tends to stick. At first, the revnet sales cycle will likely be long, we'll want to observe how the structure provides value both as a supportive component of already-existing organizations, and as the core piece of new orgs starting up. We'll lead the way with great examples of successful revnets folks can look up, starting with $REV, whose energy will help us reach critical mass. + +**Immutability risk**: Though a revnet's immutability is its core value proposition, some might also view this as a risk. A revnet is impossible to course correct once deployed and legitimacy has been established. Mainly, the $REV specification that determines issuance policy could turn out to not motivate activity as much as intended. A perfect revnet configuration is hard to know ahead of time, and there aren't many levers that expose control within its ruleset – like bitcoin, the hardcoded rules can only teleologically be deemed productive if the network proves itself in competition with forked alternatives. The two variables that do offer control and flexibility within the $REV revnet specs are the 38% split that rrg.eth will operate, and the autominted tokens. RRG can play a part in reorienting priorities using the split in order to stimulate some desired behavior, and can reasonably expect the autominted token holders to act in the best interest of the network's growth. + +#### Which blockchains? + +Revnets are built using the Juicebox V4 protocol, which can extend to any new blockchain that can accomodate its "Sucker" interfaces. We're starting on Ethereum, Optimism, Arbitrum, and Base because the Ethereum ecosystem prioritizes immutability and decentralizations more than most, they have the most financial liquidity, and they extend most simply from the previous versions of Juicebox which was Ethereum mainnet only. In order to deploy on Solana, for example, we'd first want to build a Solana version of Juicebox V4 – doable but not a priority right now. + +#### I'm not sure exactly how revnets might fit my project, can I bounce ideas off someone? + +Yes absolutely, each project can have unique and important properties to design towards, and in the beginning we don't have many examples to follow. The Revnet telegram is a great place to reach out @revnet_eth, or discord at https://discord.gg/vhVxwh8aD9. If revnets don't turn out to fit your needs, you can always use the juicebox protocol directly for a more hands-on project that can be adapted over time. + --- Ethereum is one of a kind. We have incredible respect and gratitude for the work of our peers that make our contributions possible.  -[^1]: Increased demand for mobility due to mobile productivity, ease of travel, internet-scale social networks, global media marketing, lifestyle desires, climate change risk mitigation, political preferences, the emergence of borderless money and identification, and likely other reasons. -[^2]: https://www.youtube.com/watch?v=D0ek2yv81Gk +[^1]: https://www.youtube.com/watch?v=D0ek2yv81Gk +[^2]: Increased demand for mobility due to mobile productivity, post-covid remote work leniance, ease of travel, internet-scale social networks, airbnbs, digital nomadship, global media marketing, lifestyle desires, climate change risk mitigation, political preferences, the emergence of borderless money and identification, online education, globalism, increase in cross-cultural families, and likely other reasons. [^3]: https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm [^4]: https://ethereum.org/en/developers/docs/evm/