From 62cb225977237c9e73193ffbead689134c4de7be Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 06:43:35 -0300 Subject: [PATCH 01/91] Update memo.md --- memo.md | 14 ++++++++------ 1 file changed, 8 insertions(+), 6 deletions(-) diff --git a/memo.md b/memo.md index 32b7708..3de8a3c 100644 --- a/memo.md +++ b/memo.md @@ -1,11 +1,13 @@ # Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet **Add value => grow revenue => become wealthy openly and welcomely together.** -This memo makes the case for revnets. It is delivered in 3 parts: +This memo makes the case for revnets and $REV. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. 2. **What are the terms?:** Includes specifics of how you are invited to participate as investors, and an FAQ. 3. **What do they look like?:** Illustrates the opportunity with examples and case studies. +Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX), whose upcoming Juicebox V4 protocol will host a fee collecting project modeled as a revnet using the $NANA ticker. + ## Contents 1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) - [1.1 TLDR](#tldr) @@ -57,7 +59,7 @@ Revnets offer a promising solution, as a hands-free all-in-one tokenized incenti Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indie media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. -Join us – a group of active Web3 builders with vivid stories to prove it – in founding and growing the $REV network, which operates as a revenue-generating revnet itself. +Join us – a group of Web3 builders who have helped facilitate over $180 million through the Juicebox protocol – in founding and growing the $REV and $NANA networks, which operate as revenue-generating revnet themselves. ### 1.2 Overview @@ -112,9 +114,9 @@ These guarentees can be visualized as a digital vending machine: Revnets enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: -- **$TOKEN price:** There is always a price at which it is willing to issue new $TOKENs, and it will instead forward inbound funds to an AMM offering a better rate than the issuance rate if one exists. This price can be set to change over time at a customizable rate. +- **$TOKEN price:** There is always a price at which the revnet is willing to issue new $TOKENs, and it will instead forward inbound funds to an AMM offering a better rate than the issuance rate if one exists. This price can be set to change over time at a customizable rate. - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. -- **Cash out price:** There is always a price at which its willing to distribute its revenue when it receives its $TOKENs back. Each cash out increases the value of the next cash out, by a customizable rate. +- **Cash out tax:** $TOKENs can be cashed out by returning them to the revnet, which distributes some of the revnets revenues to the holder. A customizable cash out tax rate means each cash out increases the value of the next cash out. > For example, A revnet can be (1) paid in ETH (or other tokens), which (2) generates its own token at a given price, say 1 ETH buys 1,000 $TOKEN. A revnet can (3) have a split in place that automatically sends a percentage of these new $REV to a set of pre-established entities, say 20% split so that 100 $REV goes to each of two builders and 80% goes to the payer of the 1 ETH, which (4) stays in the vending machine. @@ -160,7 +162,7 @@ Revnets are the next step. They are an expression of the Juicebox language we kn Their time is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. -We've been working on revnets conceptually since late 2023. They're now implemented and ready for showtime. +We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet that issues $NANA, split largely to Juicebox DAO ($JBX). Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. ### 1.5 Call to action @@ -189,7 +191,7 @@ In summary, they have the following relationships: - RRG makes, secures, and markets tools that help make $REV and other revnets more successful. - RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other revnet $TOKENs it believes in. - Juicebox DAO makes, secures, and markets the Juicebox v4 protocol with which all revnets are expressed. -- Each revnet pays a 2.5% cash out fee to $NANA – the fee-token of Juicebox V4 broadly held by Juicebox DAO. +- Each revnet pays a 2.5% cash out fee to $NANA – the fee token of Juicebox V4 broadly held by Juicebox DAO ($JBX). Think of $NANA as a unit of account that accrues to $JBX. - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. From 65dc051dd28b2bac2c0f68b79fa6aad0d84659f0 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 06:54:10 -0300 Subject: [PATCH 02/91] Update memo.md --- memo.md | 3 ++- 1 file changed, 2 insertions(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 3de8a3c..6e537cd 100644 --- a/memo.md +++ b/memo.md @@ -397,12 +397,13 @@ Revnet Research Group (RRG) exemplifies this approach by taking a 40% split of t #### Should I invest in RRG, $REV, or...? -There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($JBX). +There are five core entities in play: $REV, RRG LLC, RF1 LLC, $NANA, and JuiceboxDAO ($JBX). - For those onchain, build direct exposure to $REV to benefit from revenue growth without proxies. - RRG LLC is an operational group whose mission is to grow $REV. It is not directly investable. - RF1 LLC is the only current way to access the ecosystem for participants who don't want to access tokens directly onchain. RF1 will facilitate revnet interactions on traditional investors' behalf, albeit for a management fee. - Also for those comfortable accessing tokens onchain, $JBX is a fixed-supply governance token which has been on the market for several years, now utilizing its treasury to build out the Juicebox ecosystem – the revnet project and several others were informally incubated from within JuiceboxDAO. It is expected to receive a split of $REV issuance and buybacks, making it a great proxy to build ongoing exposure to $REV's revenue growth – albeit subject to the risks associated with each entity's governance process. You can learn more [here](https://docs.juicebox.money/dao/). +- $NANA benefits from broad Juicebox V4 growth, including but not limited to revnets. It welcomes direct participation without proxies, though it will be largely held by Juicebox DAO. $JBX is likely a better vehicle for broad ecosystem exposure if you're comfortable with its current governance risks. #### What are the risks I should be aware of? From a80525d5c521d51059b12e97d2721c45742cc19c Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 07:02:16 -0300 Subject: [PATCH 03/91] Update memo.md --- memo.md | 6 ++++-- 1 file changed, 4 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 6e537cd..875ba75 100644 --- a/memo.md +++ b/memo.md @@ -59,7 +59,7 @@ Revnets offer a promising solution, as a hands-free all-in-one tokenized incenti Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indie media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. -Join us – a group of Web3 builders who have helped facilitate over $180 million through the Juicebox protocol – in founding and growing the $REV and $NANA networks, which operate as revenue-generating revnet themselves. +Join us – a group of Web3 builders who have helped facilitate over $180 million through the Juicebox protocol – in founding and growing the $REV and $NANA networks, which operate as revenue-generating revnets themselves. ### 1.2 Overview @@ -95,12 +95,14 @@ Revnets are easy to use, a bicycle for online economies. They resolve the three Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, "the next generation for markets, the next generation for securities, will be tokenization of securities."[^2] We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, compensation, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. -We're deploying a $REV revnet that'll earn 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for ten other spectacular projects we've been working with, demonstrating how revnets are: +We're deploying a $REV revnet that'll earn 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for six other spectacular projects we've been working with, demonstrating how revnets are: - **Versatile:** This simple financial instrument has the power to support diverse applications. - **Standardized:** They create a familiar business interaction standard, leading to a positive feedback loop for all revnet-based projects. - **Interoperable:** They have the ability to relate financial outcomes between each other, encouraging more collaboration within a competitive business landscape. +We're also deploying a $NANA revnet as the fee collecting project of the Juicebox V4 protocol, which will act more as a revenue-generating unit of account stewarded by $JBX governance – a token network now active for over 3 years. + Projects will choose a revnet business structure when they prefer their outcome to be oriented towards maximizing the network's self-propagation while minimizing the potential of any party with privileged access and exploitable liabilites. They'll understand their work to have value while also understanding a network's preference to work for itself once instigated, like Bitcoin and Ethereum. ### 1.3 Anatomy of a revnet | Introduction From 6bea9323288b75a6d4b3d529d04b19ed01576be5 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 15:08:21 -0300 Subject: [PATCH 04/91] Update memo.md --- memo.md | 9 +++++++-- 1 file changed, 7 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 875ba75..14063a1 100644 --- a/memo.md +++ b/memo.md @@ -120,13 +120,18 @@ Revnets enforces three main customizable rules that can be preset to change over - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. - **Cash out tax:** $TOKENs can be cashed out by returning them to the revnet, which distributes some of the revnets revenues to the holder. A customizable cash out tax rate means each cash out increases the value of the next cash out. -> For example, A revnet can be (1) paid in ETH (or other tokens), which (2) generates its own token at a given price, say 1 ETH buys 1,000 $TOKEN. A revnet can (3) have a split in place that automatically sends a percentage of these new $REV to a set of pre-established entities, say 20% split so that 100 $REV goes to each of two builders and 80% goes to the payer of the 1 ETH, which (4) stays in the vending machine. +> For example: +> 1. A revnet can be paid in ETH (or other tokens). +> 2. Payments generate its own tokens at a given price, say 1 dollar buys 1,000 $TOKEN (shown as an $R). +> 3. A revnet can have a split in place that automatically sends a percentage of these new $REV to a set of pre-established entities, say 20% split so that 100 $TOKEN goes to each of two builders and 80% goes to the payer of the 1 dollar. +> 4. The dollars stay in the vending machine. Screenshot_2024-01-21_at_17 59 01

-> In order to get the 1 ETH back out, a $TOKEN holder has to cash out, which incurs a tax. This means if (5) one of the builders wanted to cash out their 100 $TOKEN right away, they would (6) get less than the proportional 0.1 ETH if a tax was in place, leaving revenue on the table for those who cash out later. The specifics of the issuance price, split, and cash out tax are set as a sequence of fixed-duration stages that are all specified when the revnet is deployed. +> 5. In order to get the 1 dollar back out, a $TOKEN holder has to cash out, which incurs a tax. +> 6. This means if one of the builders wanted to cash out their 100 $TOKENs right away, they would get less than the proportional 0.1 dollars if a tax was in place, leaving revenue on the table for those who cash out later. The specifics of the issuance price, split, and cash out tax are set as a sequence of fixed-duration stages that are all specified when the revnet is deployed. Screenshot_2024-01-21_at_17 58 43
From 6103aabe7bf21ab2fbdb32644c835f0d4cb99ce4 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 15:10:28 -0300 Subject: [PATCH 05/91] Update memo.md --- memo.md | 12 ++++++------ 1 file changed, 6 insertions(+), 6 deletions(-) diff --git a/memo.md b/memo.md index 14063a1..1e3ebf6 100644 --- a/memo.md +++ b/memo.md @@ -121,17 +121,17 @@ Revnets enforces three main customizable rules that can be preset to change over - **Cash out tax:** $TOKENs can be cashed out by returning them to the revnet, which distributes some of the revnets revenues to the holder. A customizable cash out tax rate means each cash out increases the value of the next cash out. > For example: -> 1. A revnet can be paid in ETH (or other tokens). -> 2. Payments generate its own tokens at a given price, say 1 dollar buys 1,000 $TOKEN (shown as an $R). -> 3. A revnet can have a split in place that automatically sends a percentage of these new $REV to a set of pre-established entities, say 20% split so that 100 $TOKEN goes to each of two builders and 80% goes to the payer of the 1 dollar. -> 4. The dollars stay in the vending machine. +> 1. A revnet can be paid in ETH, and/or other tokens (shown here as dollar bills). +> 2. Payments generate its own tokens at a given price, say 1 ETH buys 1,000 $TOKEN (shown as an $R). +> 3. A revnet can have a split in place that automatically sends a percentage of these new $TOKENs to a set of pre-established entities, say 20% split so that 100 $TOKEN goes to each of two builders and 80% goes to the payer of the 1 ETH. +> 4. The ETH stay in the vending machine. Screenshot_2024-01-21_at_17 59 01

-> 5. In order to get the 1 dollar back out, a $TOKEN holder has to cash out, which incurs a tax. -> 6. This means if one of the builders wanted to cash out their 100 $TOKENs right away, they would get less than the proportional 0.1 dollars if a tax was in place, leaving revenue on the table for those who cash out later. The specifics of the issuance price, split, and cash out tax are set as a sequence of fixed-duration stages that are all specified when the revnet is deployed. +> 5. In order to get the 1 ETH back out, a $TOKEN holder has to cash out, which incurs a tax. +> 6. This means if one of the builders wanted to cash out their 100 $TOKENs right away, they would get less than the proportional 0.1 ETH if a tax was in place, leaving revenue on the table for those who cash out later. The specifics of the issuance price, split, and cash out tax are set as a sequence of fixed-duration stages that are all specified when the revnet is deployed. Screenshot_2024-01-21_at_17 58 43
From f9815bb7dd102aad4eb3b67443826e063435f6d0 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 15:11:24 -0300 Subject: [PATCH 06/91] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 1e3ebf6..268f801 100644 --- a/memo.md +++ b/memo.md @@ -118,10 +118,10 @@ Revnets enforces three main customizable rules that can be preset to change over - **$TOKEN price:** There is always a price at which the revnet is willing to issue new $TOKENs, and it will instead forward inbound funds to an AMM offering a better rate than the issuance rate if one exists. This price can be set to change over time at a customizable rate. - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. -- **Cash out tax:** $TOKENs can be cashed out by returning them to the revnet, which distributes some of the revnets revenues to the holder. A customizable cash out tax rate means each cash out increases the value of the next cash out. +- **Cash out tax:** $TOKENs can be cashed out by returning them to the revnet, which distributes some of the revnet's revenues back to the holder. A customizable cash out tax rate means each cash out increases the value of the next cash out, rewarding those who stick around longer. > For example: -> 1. A revnet can be paid in ETH, and/or other tokens (shown here as dollar bills). +> 1. A revnet can be paid in ETH, and/or other tokens (shown below as dollar bills). > 2. Payments generate its own tokens at a given price, say 1 ETH buys 1,000 $TOKEN (shown as an $R). > 3. A revnet can have a split in place that automatically sends a percentage of these new $TOKENs to a set of pre-established entities, say 20% split so that 100 $TOKEN goes to each of two builders and 80% goes to the payer of the 1 ETH. > 4. The ETH stay in the vending machine. From f76ee5659a175b5cb5f32ab6e65b1b6e3c00a20a Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 15:12:55 -0300 Subject: [PATCH 07/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 268f801..df14621 100644 --- a/memo.md +++ b/memo.md @@ -116,7 +116,7 @@ These guarentees can be visualized as a digital vending machine: Revnets enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: -- **$TOKEN price:** There is always a price at which the revnet is willing to issue new $TOKENs, and it will instead forward inbound funds to an AMM offering a better rate than the issuance rate if one exists. This price can be set to change over time at a customizable rate. +- **$TOKEN price:** There is always a price at which the revnet is willing to issue new $TOKENs. If there exists an AMM offering a better rate than the $TOKEN issuance price, the revnet will instead forward inbound funds to the AMM. This price can be set to change over time at a customizable rate. - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. - **Cash out tax:** $TOKENs can be cashed out by returning them to the revnet, which distributes some of the revnet's revenues back to the holder. A customizable cash out tax rate means each cash out increases the value of the next cash out, rewarding those who stick around longer. From 7afb87610fc8140a0ef26f8db6ff36ec2c4d51f4 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 15:16:17 -0300 Subject: [PATCH 08/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index df14621..2e14d18 100644 --- a/memo.md +++ b/memo.md @@ -216,7 +216,7 @@ Revnets unfold in stages. Each stage specifies five rules that dictate everythin | **$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.
**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. | | **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 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: - **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. From 99ad719ff9abf075f8f7f73bcfeba16fd1553dcf Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 17:31:02 -0300 Subject: [PATCH 09/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 2e14d18..4ed69fa 100644 --- a/memo.md +++ b/memo.md @@ -169,7 +169,7 @@ Revnets are the next step. They are an expression of the Juicebox language we kn Their time is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. -We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet that issues $NANA, split largely to Juicebox DAO ($JBX). Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. +We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet. Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. Part 2 digs deeper into how these entities relate. ### 1.5 Call to action From aaf772404898d655b5b93af1afd83d74c6619aa4 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 17:31:36 -0300 Subject: [PATCH 10/91] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 4ed69fa..bbdd66a 100644 --- a/memo.md +++ b/memo.md @@ -6,7 +6,7 @@ This memo makes the case for revnets and $REV. It is delivered in 3 parts: 2. **What are the terms?:** Includes specifics of how you are invited to participate as investors, and an FAQ. 3. **What do they look like?:** Illustrates the opportunity with examples and case studies. -Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX), whose upcoming Juicebox V4 protocol will host a fee collecting project modeled as a revnet using the $NANA ticker. +Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX), whose upcoming Juicebox V4 protocol will host a fee collecting project modeled as a revnet. ## Contents 1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) @@ -59,7 +59,7 @@ Revnets offer a promising solution, as a hands-free all-in-one tokenized incenti Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indie media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. -Join us – a group of Web3 builders who have helped facilitate over $180 million through the Juicebox protocol – in founding and growing the $REV and $NANA networks, which operate as revenue-generating revnets themselves. +Join us – a group of Web3 builders who have helped facilitate over $180 million through the Juicebox protocol – in founding and growing the $REV network, which operates as revenue-generating revnet itself. ### 1.2 Overview From 92f8836a7bec92d57e72e57c5047ca658c3ed070 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 17:35:11 -0300 Subject: [PATCH 11/91] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index bbdd66a..f23a88a 100644 --- a/memo.md +++ b/memo.md @@ -191,14 +191,14 @@ Investors interested in the promise of revnets should know there are three core - **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. -It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets. +It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets. It's upcoming Juicebox V4 protocol on which revnets are built will host a fee collecting project under the ticker $NANA, itself a revnet, which will be broadly held by Juicebox DAO. Think of $NANA as a unit of account that accrues to $JBX governance. In summary, they have the following relationships: - $REV's split is operated by RRG, described below. - RRG makes, secures, and markets tools that help make $REV and other revnets more successful. - RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other revnet $TOKENs it believes in. - Juicebox DAO makes, secures, and markets the Juicebox v4 protocol with which all revnets are expressed. -- Each revnet pays a 2.5% cash out fee to $NANA – the fee token of Juicebox V4 broadly held by Juicebox DAO ($JBX). Think of $NANA as a unit of account that accrues to $JBX. +- Each revnet pays a 2.5% cash out fee to $NANA. - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. From b17688a6fe2ce037bbcfe683c5b08d4aef411c63 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 17:36:18 -0300 Subject: [PATCH 12/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index f23a88a..4e1f9b1 100644 --- a/memo.md +++ b/memo.md @@ -191,7 +191,7 @@ Investors interested in the promise of revnets should know there are three core - **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. -It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets. It's upcoming Juicebox V4 protocol on which revnets are built will host a fee collecting project under the ticker $NANA, itself a revnet, which will be broadly held by Juicebox DAO. Think of $NANA as a unit of account that accrues to $JBX governance. +It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets. Its upcoming Juicebox V4 protocol on which revnets are built will host a fee collecting project under the ticker $NANA, itself a revnet, which will be broadly held by Juicebox DAO. Think of $NANA as a unit of account capturing protocol revenues from V4 that accrue to $JBX governance. In summary, they have the following relationships: - $REV's split is operated by RRG, described below. From 1839f823da99188b697dd7126f0d72ee9312f859 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 17:38:01 -0300 Subject: [PATCH 13/91] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 4e1f9b1..e482db6 100644 --- a/memo.md +++ b/memo.md @@ -121,8 +121,8 @@ Revnets enforces three main customizable rules that can be preset to change over - **Cash out tax:** $TOKENs can be cashed out by returning them to the revnet, which distributes some of the revnet's revenues back to the holder. A customizable cash out tax rate means each cash out increases the value of the next cash out, rewarding those who stick around longer. > For example: -> 1. A revnet can be paid in ETH, and/or other tokens (shown below as dollar bills). -> 2. Payments generate its own tokens at a given price, say 1 ETH buys 1,000 $TOKEN (shown as an $R). +> 1. A revnet can be paid in ETH, and/or other tokens (shown below as green dollar bills). +> 2. Payments generate its own tokens at a given price, say 1 ETH buys 1,000 $TOKEN (shown as orange $Rs). The payment may also yield an NFT artifact (shown as blue cards). > 3. A revnet can have a split in place that automatically sends a percentage of these new $TOKENs to a set of pre-established entities, say 20% split so that 100 $TOKEN goes to each of two builders and 80% goes to the payer of the 1 ETH. > 4. The ETH stay in the vending machine. From 6070119e6f6b1f7487a8cfce77d0e5c93c097f46 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 17:38:48 -0300 Subject: [PATCH 14/91] Update memo.md --- memo.md | 4 +++- 1 file changed, 3 insertions(+), 1 deletion(-) diff --git a/memo.md b/memo.md index e482db6..360c96e 100644 --- a/memo.md +++ b/memo.md @@ -131,7 +131,9 @@ Revnets enforces three main customizable rules that can be preset to change over
> 5. In order to get the 1 ETH back out, a $TOKEN holder has to cash out, which incurs a tax. -> 6. This means if one of the builders wanted to cash out their 100 $TOKENs right away, they would get less than the proportional 0.1 ETH if a tax was in place, leaving revenue on the table for those who cash out later. The specifics of the issuance price, split, and cash out tax are set as a sequence of fixed-duration stages that are all specified when the revnet is deployed. +> 6. This means if one of the builders wanted to cash out their 100 $TOKENs right away, they would get less than the proportional 0.1 ETH if a tax was in place, leaving revenue on the table for those who cash out later. +> +> The specifics of the issuance price, split, and cash out tax are set as a sequence of fixed-duration stages that are all specified when the revnet is deployed. Screenshot_2024-01-21_at_17 58 43
From 3d10ffcaf1531a1e54f95077238b0f7f2b461a3f Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 17:39:34 -0300 Subject: [PATCH 15/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 360c96e..397e192 100644 --- a/memo.md +++ b/memo.md @@ -171,7 +171,7 @@ Revnets are the next step. They are an expression of the Juicebox language we kn Their time is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. -We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet. Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. Part 2 digs deeper into how these entities relate. +We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet. Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. Part 2 further explains how these entities relate. ### 1.5 Call to action From 0fc4d696d63104cd03bb5cb1d4aae7e267c8061c Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 19:32:17 -0300 Subject: [PATCH 16/91] Update memo.md --- memo.md | 3 ++- 1 file changed, 2 insertions(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 397e192..7b3c8a6 100644 --- a/memo.md +++ b/memo.md @@ -179,7 +179,8 @@ Revnets can power millions of startups to become global movements, high net-wort With revnets, the open internet will outcompete private alternatives _because_ it best serves creatives, builders, investors, and consumers alike. -We're calling on partners who believe in this revenue-forward version of the open internet to join the $REV network. The more we help each emergent revnet win, the more we win, the more the open internet wins. Read Part 2 of this memo if you're leaning in. +We're calling on partners who believe in this revenue-forward version of the open internet to join the $REV network. The more we help each emergent revnet win, the more we win, the more the open internet wins. Read Part 2 of this memo if you're leaning in, and join the $REV testnet https://www.revnet.app/sepolia/net/2. + --- ![image](https://github.com/user-attachments/assets/01ba051e-cb0d-4364-8539-76199512eed6) From 5316495822945f22ab5accd127507426cd3ad179 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:04:55 -0300 Subject: [PATCH 17/91] Update memo.md --- memo.md | 52 +++++++++++++++++++++++++++++++++++++++------------- 1 file changed, 39 insertions(+), 13 deletions(-) diff --git a/memo.md b/memo.md index 7b3c8a6..98c2dcf 100644 --- a/memo.md +++ b/memo.md @@ -39,13 +39,8 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - - [3.1 Overview](#overview) - - [3.2 $NANA](#nana) - - [3.3 $BANNY](#banny) - - [3.4 $SUCKS](#sucks) - - [3.5 $CROPTOP](#croptop) - - [3.6 $DEFIFA](#defifa) - - [3.7 $NANCE](#nance) + - [3.1 Upcoming revnets](#upcoming-revnets) + - [3.2 Hypotheticals](#hypotheticals) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) @@ -448,9 +443,11 @@ A revnet can belong to any number of these categories, and grow into others over There are likely other strategies for using revnets that we've yet to explore in depth. +### 3.2 Upcoming revnets + Below are some other revnets we're helping launch this next year within each of these categories: -### 3.2 $NANA +### $NANA | | | |------|--------| | **Site** | [https://nana.eth.sucks](https://bananapus.eth.sucks) | @@ -462,7 +459,7 @@ Below are some other revnets we're helping launch this next year within each of | **Edge** | If open source protocols with fees outcompete free alternatives and if governance is a burden to productivity, $NANA and JuiceboxDAO are uniquely positioned to capture revenue that regeneratively grows the wealth of its open source financial system. | | **Risks** | Unlike V3, V4 has no TVL and has not facilitated high volume transactions. | -### 3.3 $BANNY +### $BANNY | | | |------|--------| | **Site** | [https://banny.eth.sucks](https://banny.eth.sucks) | @@ -474,7 +471,7 @@ Below are some other revnets we're helping launch this next year within each of | **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. | | **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) | @@ -487,7 +484,7 @@ 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 +### $CROPTOP | | | |------|--------| | **Site** | [https://croptop.eth.sucks](https://croptop.eth.sucks) | @@ -499,7 +496,7 @@ Below are some other revnets we're helping launch this next year within each of | **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 +### $DEFIFA | | | |------|--------| | **Site** | [https://defifa.net](https://defifa.net) | @@ -511,7 +508,7 @@ Below are some other revnets we're helping launch this next year within each of | **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. | | **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) | @@ -523,6 +520,35 @@ 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. | +### 3.3 Hypotheticals + +Below are some made up examples to supplement the above. + +### $MY_TRACKS + +An artist could use a revnet to receive revenues from sales of its records, splitting most $MY_TRACKS to themselves for access to revenues and loans, and some to the record's buyers. The $MY_TRACKS will always be backed by the revenue at the minimum, and can also be speculated on with AMMs up to the revnet's current issuance price. This gives collectors liquidity that scales at the rate of distribution. + +### $SAVE_THE_BANANAS + +An ongoing campaign could use a revnet to receive donations, with a large 99% split automatically shared between a few different organizations that support the desired outcome. The 1% little bit of $SAVE_THE_BANANAS can float to donators, useful for an immediate rebate, or a liquid community meme asset. + +### $FILIPS_NAIL_SALON + +A nail shop could accept crypto payment to its revnet, with a fairly large 80% split to Filip used to run the shop. The 20% of $FILIPS_NAIL_SALON is the growth budget that rewards Filip's clients with incentives to keep coming back and spread the word and. Filip could also take cash and interact with the revnet on clients' behalf, keeping a spreadsheet of how many $FILIPS_NAIL_SALON each cash-paying customer has. Maybe some day they'll come to you with a wallet address to claim them from you. + +### $KMACS_BIG_IDEA + +KMACs startup could use a revnet to fundraise, perhaps keeping a 50% split for operating costs. This lets investors measure their contributions maintain some liquidity with a clear path to growth. Anyone – KMAC, investors, community – can stand up new revenue sources routed to the revnet for everyone's benefit. If KMACs startup proves successful, he can opt to relinquish its role as split operator to an automated module that redistributes the split to stakers of $KMACS_BIG_IDEA. If the startup proves to be a failure, KMAC can burn any unused $TOKENs to make more funds available to investors, and investors can cash out as desired. KMAC could also hand the split operator role back to the investors. + +### $JETFLIX + +An airplane exclusive subscription video service could use a revnet to issue tokens that prove wanna-be viewers paid the price to watch, with a tiny issuance price reduction over time. I pay 0.001 ETH and get 100 $JETFLIX => i try to watch the movie Airplane which costs 50 $JETFLIX => the system keeps track that I have used 50 $JETFLIX, which it can compare to my balance at the time i next want to pay for a movie. In a year, i might instead need to pay I pay 0.0015 ETH for 100 $JETFLIX. This gives users incentive to buy more access early, and support the ecosystems growth as they use the system. + +### $BOOP + +10,000 $BOOP per ETH, halvening every 14 days. 1% split to your favorite onchain cause. pointless otherwise. + + --- Ethereum is one of a kind. We have incredible respect and gratitude for the work of our peers that make our contributions possible. From 0655e0d8d4d5968e83769599e730fe13b7f90945 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:06:04 -0300 Subject: [PATCH 18/91] Update memo.md --- memo.md | 62 ++++++++++++++++++++++++++++----------------------------- 1 file changed, 31 insertions(+), 31 deletions(-) diff --git a/memo.md b/memo.md index 98c2dcf..292b29b 100644 --- a/memo.md +++ b/memo.md @@ -39,8 +39,8 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - - [3.1 Upcoming revnets](#upcoming-revnets) - - [3.2 Hypotheticals](#hypotheticals) + - [3.1 Cartoon hypotheticals](#cartoon-hypotheticals) + - [3.2 Real upcoming revnets](#real-upcoming-revnets) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) @@ -443,7 +443,35 @@ A revnet can belong to any number of these categories, and grow into others over There are likely other strategies for using revnets that we've yet to explore in depth. -### 3.2 Upcoming revnets +### 3.3 Cartoon hypotheticals + +Below are some made up examples to supplement the above. + +### $MY_TRACKS + +An artist could use a revnet to receive revenues from sales of its records, splitting most $MY_TRACKS to themselves for access to revenues and loans, and some to the record's buyers. The $MY_TRACKS will always be backed by the revenue at the minimum, and can also be speculated on with AMMs up to the revnet's current issuance price. This gives collectors liquidity that scales at the rate of distribution. + +### $SAVE_THE_BANANAS + +An ongoing campaign could use a revnet to receive donations, with a large 99% split automatically shared between a few different organizations that support the desired outcome. The 1% little bit of $SAVE_THE_BANANAS can float to donators, useful for an immediate rebate, or a liquid community meme asset. + +### $FILIPS_NAIL_SALON + +A nail shop could accept crypto payment to its revnet, with a fairly large 80% split to Filip used to run the shop. The 20% of $FILIPS_NAIL_SALON is the growth budget that rewards Filip's clients with incentives to keep coming back and spread the word and. Filip could also take cash and interact with the revnet on clients' behalf, keeping a spreadsheet of how many $FILIPS_NAIL_SALON each cash-paying customer has. Maybe some day they'll come to you with a wallet address to claim them from you. + +### $KMACS_BIG_IDEA + +KMACs startup could use a revnet to fundraise, perhaps keeping a 50% split for operating costs. This lets investors measure their contributions maintain some liquidity with a clear path to growth. Anyone – KMAC, investors, community – can stand up new revenue sources routed to the revnet for everyone's benefit. If KMACs startup proves successful, he can opt to relinquish its role as split operator to an automated module that redistributes the split to stakers of $KMACS_BIG_IDEA. If the startup proves to be a failure, KMAC can burn any unused $TOKENs to make more funds available to investors, and investors can cash out as desired. KMAC could also hand the split operator role back to the investors. + +### $JETFLIX + +An airplane exclusive subscription video service could use a revnet to issue tokens that prove wanna-be viewers paid the price to watch, with a tiny issuance price reduction over time. I pay 0.001 ETH and get 100 $JETFLIX => i try to watch the movie Airplane which costs 50 $JETFLIX => the system keeps track that I have used 50 $JETFLIX, which it can compare to my balance at the time i next want to pay for a movie. In a year, i might instead need to pay I pay 0.0015 ETH for 100 $JETFLIX. This gives users incentive to buy more access early, and support the ecosystems growth as they use the system. + +### $BOOP + +10,000 $BOOP per ETH, halvening every 14 days. 1% split to your favorite onchain cause. pointless otherwise. + +### 3.3 Upcoming revnets Below are some other revnets we're helping launch this next year within each of these categories: @@ -520,34 +548,6 @@ 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. | -### 3.3 Hypotheticals - -Below are some made up examples to supplement the above. - -### $MY_TRACKS - -An artist could use a revnet to receive revenues from sales of its records, splitting most $MY_TRACKS to themselves for access to revenues and loans, and some to the record's buyers. The $MY_TRACKS will always be backed by the revenue at the minimum, and can also be speculated on with AMMs up to the revnet's current issuance price. This gives collectors liquidity that scales at the rate of distribution. - -### $SAVE_THE_BANANAS - -An ongoing campaign could use a revnet to receive donations, with a large 99% split automatically shared between a few different organizations that support the desired outcome. The 1% little bit of $SAVE_THE_BANANAS can float to donators, useful for an immediate rebate, or a liquid community meme asset. - -### $FILIPS_NAIL_SALON - -A nail shop could accept crypto payment to its revnet, with a fairly large 80% split to Filip used to run the shop. The 20% of $FILIPS_NAIL_SALON is the growth budget that rewards Filip's clients with incentives to keep coming back and spread the word and. Filip could also take cash and interact with the revnet on clients' behalf, keeping a spreadsheet of how many $FILIPS_NAIL_SALON each cash-paying customer has. Maybe some day they'll come to you with a wallet address to claim them from you. - -### $KMACS_BIG_IDEA - -KMACs startup could use a revnet to fundraise, perhaps keeping a 50% split for operating costs. This lets investors measure their contributions maintain some liquidity with a clear path to growth. Anyone – KMAC, investors, community – can stand up new revenue sources routed to the revnet for everyone's benefit. If KMACs startup proves successful, he can opt to relinquish its role as split operator to an automated module that redistributes the split to stakers of $KMACS_BIG_IDEA. If the startup proves to be a failure, KMAC can burn any unused $TOKENs to make more funds available to investors, and investors can cash out as desired. KMAC could also hand the split operator role back to the investors. - -### $JETFLIX - -An airplane exclusive subscription video service could use a revnet to issue tokens that prove wanna-be viewers paid the price to watch, with a tiny issuance price reduction over time. I pay 0.001 ETH and get 100 $JETFLIX => i try to watch the movie Airplane which costs 50 $JETFLIX => the system keeps track that I have used 50 $JETFLIX, which it can compare to my balance at the time i next want to pay for a movie. In a year, i might instead need to pay I pay 0.0015 ETH for 100 $JETFLIX. This gives users incentive to buy more access early, and support the ecosystems growth as they use the system. - -### $BOOP - -10,000 $BOOP per ETH, halvening every 14 days. 1% split to your favorite onchain cause. pointless otherwise. - --- Ethereum is one of a kind. We have incredible respect and gratitude for the work of our peers that make our contributions possible. From 39490c484fbc1d033f3a292c9c669e2d4193ac3f Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:07:05 -0300 Subject: [PATCH 19/91] Update memo.md --- memo.md | 2 ++ 1 file changed, 2 insertions(+) diff --git a/memo.md b/memo.md index 292b29b..855250f 100644 --- a/memo.md +++ b/memo.md @@ -152,6 +152,8 @@ Revnets also inherit the best properties of Ethereum: As a result of its properties, a revnet's $TOKENs are reliably backed by the underlying value of the revenue used to issue them. This makes $TOKENs great collateral for loans, which each revnet also offers, for a fee paid into itself. + + Part 2 of this memo digs in deeper, and discusses how we are tuning the $REV revnet for deployment. Part 3 follows with examples, case studies, and hypothetical scenarios. ### 1.4 Why now? Why us? From 4bf26d9ff5e7c97f0c20f771edffa2e021841e46 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:07:59 -0300 Subject: [PATCH 20/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 855250f..996a34b 100644 --- a/memo.md +++ b/memo.md @@ -168,7 +168,7 @@ Revnets are the next step. They are an expression of the Juicebox language we kn Their time is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. -We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet. Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. Part 2 further explains how these entities relate. +We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet. Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. This also means all revnets will show up on juicebox.money and other Juicebox explorers by default. Part 2 further explains how these entities relate. ### 1.5 Call to action From b70786c4083af78b1dab97a6f6a4548b8f59e8dd Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:11:20 -0300 Subject: [PATCH 21/91] Update memo.md --- memo.md | 12 ++++++------ 1 file changed, 6 insertions(+), 6 deletions(-) diff --git a/memo.md b/memo.md index 996a34b..d80b665 100644 --- a/memo.md +++ b/memo.md @@ -449,27 +449,27 @@ There are likely other strategies for using revnets that we've yet to explore in Below are some made up examples to supplement the above. -### $MY_TRACKS +#### $MY_TRACKS An artist could use a revnet to receive revenues from sales of its records, splitting most $MY_TRACKS to themselves for access to revenues and loans, and some to the record's buyers. The $MY_TRACKS will always be backed by the revenue at the minimum, and can also be speculated on with AMMs up to the revnet's current issuance price. This gives collectors liquidity that scales at the rate of distribution. -### $SAVE_THE_BANANAS +#### $SAVE_THE_BANANAS An ongoing campaign could use a revnet to receive donations, with a large 99% split automatically shared between a few different organizations that support the desired outcome. The 1% little bit of $SAVE_THE_BANANAS can float to donators, useful for an immediate rebate, or a liquid community meme asset. -### $FILIPS_NAIL_SALON +#### $FILIPS_NAIL_SALON A nail shop could accept crypto payment to its revnet, with a fairly large 80% split to Filip used to run the shop. The 20% of $FILIPS_NAIL_SALON is the growth budget that rewards Filip's clients with incentives to keep coming back and spread the word and. Filip could also take cash and interact with the revnet on clients' behalf, keeping a spreadsheet of how many $FILIPS_NAIL_SALON each cash-paying customer has. Maybe some day they'll come to you with a wallet address to claim them from you. -### $KMACS_BIG_IDEA +#### $KMACS_BIG_IDEA KMACs startup could use a revnet to fundraise, perhaps keeping a 50% split for operating costs. This lets investors measure their contributions maintain some liquidity with a clear path to growth. Anyone – KMAC, investors, community – can stand up new revenue sources routed to the revnet for everyone's benefit. If KMACs startup proves successful, he can opt to relinquish its role as split operator to an automated module that redistributes the split to stakers of $KMACS_BIG_IDEA. If the startup proves to be a failure, KMAC can burn any unused $TOKENs to make more funds available to investors, and investors can cash out as desired. KMAC could also hand the split operator role back to the investors. -### $JETFLIX +#### $JETFLIX An airplane exclusive subscription video service could use a revnet to issue tokens that prove wanna-be viewers paid the price to watch, with a tiny issuance price reduction over time. I pay 0.001 ETH and get 100 $JETFLIX => i try to watch the movie Airplane which costs 50 $JETFLIX => the system keeps track that I have used 50 $JETFLIX, which it can compare to my balance at the time i next want to pay for a movie. In a year, i might instead need to pay I pay 0.0015 ETH for 100 $JETFLIX. This gives users incentive to buy more access early, and support the ecosystems growth as they use the system. -### $BOOP +#### $BOOP 10,000 $BOOP per ETH, halvening every 14 days. 1% split to your favorite onchain cause. pointless otherwise. From 9bf8017929502ba4506f2f99d8ea796ced90b816 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:13:49 -0300 Subject: [PATCH 22/91] Update memo.md --- memo.md | 5 +++++ 1 file changed, 5 insertions(+) diff --git a/memo.md b/memo.md index d80b665..2eaa690 100644 --- a/memo.md +++ b/memo.md @@ -453,6 +453,7 @@ Below are some made up examples to supplement the above. An artist could use a revnet to receive revenues from sales of its records, splitting most $MY_TRACKS to themselves for access to revenues and loans, and some to the record's buyers. The $MY_TRACKS will always be backed by the revenue at the minimum, and can also be speculated on with AMMs up to the revnet's current issuance price. This gives collectors liquidity that scales at the rate of distribution. + #### $SAVE_THE_BANANAS An ongoing campaign could use a revnet to receive donations, with a large 99% split automatically shared between a few different organizations that support the desired outcome. The 1% little bit of $SAVE_THE_BANANAS can float to donators, useful for an immediate rebate, or a liquid community meme asset. @@ -473,6 +474,10 @@ An airplane exclusive subscription video service could use a revnet to issue tok 10,000 $BOOP per ETH, halvening every 14 days. 1% split to your favorite onchain cause. pointless otherwise. +#### $CHAIN_GAME + +An onchain game can route a fee from its smart contracts to a revnet, splitting a fee to the game developer community and the rest to fee payers, guarenteed. + ### 3.3 Upcoming revnets Below are some other revnets we're helping launch this next year within each of these categories: From 66861a9a10211519d17d29c6802916b314231361 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:16:10 -0300 Subject: [PATCH 23/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 2eaa690..431ea7e 100644 --- a/memo.md +++ b/memo.md @@ -561,7 +561,7 @@ Ethereum is one of a kind. We have incredible respect and gratitude for the work ![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) -[^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. +[^1]: Increased demand for mobility due to mobile productivity, 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, and likely other reasons. [^2]: https://www.youtube.com/watch?v=D0ek2yv81Gk [^3]: https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm [^4]: https://ethereum.org/en/developers/docs/evm/ From e6feb675af0fd52c733869119f0ec0bcf374a10c Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:18:33 -0300 Subject: [PATCH 24/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 431ea7e..ceea79c 100644 --- a/memo.md +++ b/memo.md @@ -80,7 +80,7 @@ Auto-enforceable blockchain agreements are the correct building block on which t - **NFT memberships:** Rare tokenized artifacts whose value will speculatively increase as the issuing entity becomes popularized, but with no liquidity apart from exhausting pump and dumps. - **Custom mechanisms:** Custom tokenization dynamic with a unique set of coded rules that attempt to fulfill a desired set of outcomes, but requiring everyone to learn a new jargon-filled system and trust that it is implemented bug free. - **Grants and donations:** No tokenized monetization strategy, just builders and investors with an expectation that their value creation, if done openly, will be retroactively rewarded by altruists who directly benefited from the outcomes. -- **No progress:** Take investments and fees to a centralized wallet to operate from just like traditional capital structures, with no networked benefits from the tools at our disposal. +- **No progress:** Take investments and fees to a centralized wallet to operate from just like traditional capital structures, with no networked benefits from the tools at our disposal apart perhaps from automated vesting, airdrops of meme tokens not actually backed by revenue, or tokenized accounting of its own books. We need a better place to put our money. A revenue-forward growth-oriented solution that is sustainable, reliable, simple, and massively scalable to help every value-creating business with an online growth presence – local and global – realize their potential in the upcoming tokenized economy. From 90cb795e4dfa46441eeda1fb3a9790d8fe4ed00a Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:19:39 -0300 Subject: [PATCH 25/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index ceea79c..a428164 100644 --- a/memo.md +++ b/memo.md @@ -86,7 +86,7 @@ We need a better place to put our money. A revenue-forward growth-oriented solut We think revnets might be it: A win-win-win growth engine for investors, builders, and retail customers of open source and beyond. Built by developers who've helped facilitate over $185 million in ETH payments over their past 4 years of experience designing, building, securing, and distributing Ethereum-based tokenization infrastructure. -Revnets are easy to use, a bicycle for online economies. They resolve the three dilemmas above by creating openly accounted-for financial networks with clearly bounded risks that reliably benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. +Revnets are easy to use, a bicycle for online economies. They resolve the three dilemmas above by creating openly accounted-for financial networks with bounded risks that benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, "the next generation for markets, the next generation for securities, will be tokenization of securities."[^2] We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, compensation, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. From 36b9ab7f6598649eeb40a6a5994c5d89b80e1551 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:21:00 -0300 Subject: [PATCH 26/91] Update memo.md --- memo.md | 2 ++ 1 file changed, 2 insertions(+) diff --git a/memo.md b/memo.md index a428164..5cb7a26 100644 --- a/memo.md +++ b/memo.md @@ -202,6 +202,8 @@ In summary, they have the following relationships: - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. + + This section will go through these specifics in detail. ### 2.2 Anatomy of a revnet | Advanced From 58790197e396f346dacebe1e593c330666686417 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:21:48 -0300 Subject: [PATCH 27/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 5cb7a26..eb326a9 100644 --- a/memo.md +++ b/memo.md @@ -458,7 +458,7 @@ An artist could use a revnet to receive revenues from sales of its records, spli #### $SAVE_THE_BANANAS -An ongoing campaign could use a revnet to receive donations, with a large 99% split automatically shared between a few different organizations that support the desired outcome. The 1% little bit of $SAVE_THE_BANANAS can float to donators, useful for an immediate rebate, or a liquid community meme asset. +An ongoing campaign could use a revnet to receive donations, with a large 99% split automatically shared between a few different organizations that support the desired outcome. The 1% little bit of $SAVE_THE_BANANAS can float to donors, useful for an immediate rebate, or a liquid community meme asset. #### $FILIPS_NAIL_SALON From 4046c00d7e8fb699ad94d0ec0595e94c1c98bab5 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:37:22 -0300 Subject: [PATCH 28/91] Update memo.md --- memo.md | 3 +++ 1 file changed, 3 insertions(+) diff --git a/memo.md b/memo.md index eb326a9..f74389d 100644 --- a/memo.md +++ b/memo.md @@ -424,6 +424,9 @@ There are five core entities in play: $REV, RRG LLC, RF1 LLC, $NANA, and Juicebo **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. +#### 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. --- From 0bae4403632aefb10327556011659f2b0c5e29b4 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:44:55 -0300 Subject: [PATCH 29/91] Update memo.md --- memo.md | 6 ++++-- 1 file changed, 4 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index f74389d..1934cb9 100644 --- a/memo.md +++ b/memo.md @@ -249,9 +249,11 @@ 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. -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. +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 $TOKEN's cash out price. + +$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. From d7b92bc1909f4e642e2586b3f1465193bb0f7d15 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 20:46:08 -0300 Subject: [PATCH 30/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 1934cb9..dc122c2 100644 --- a/memo.md +++ b/memo.md @@ -251,7 +251,7 @@ Three effects to visually note: 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. +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. $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 $TOKEN holder has equal access to loans at all times, at a rate equivalent to the cash out rate. From 31bfdd92f2966a0165b22cd4da7c767fa70be2cc Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 22 Aug 2024 22:17:52 -0300 Subject: [PATCH 31/91] Update memo.md --- memo.md | 94 ++++++++++++++++++++++++++++----------------------------- 1 file changed, 47 insertions(+), 47 deletions(-) diff --git a/memo.md b/memo.md index dc122c2..647199e 100644 --- a/memo.md +++ b/memo.md @@ -34,13 +34,14 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [Offchain management](#offchain-management) - [Spend](#spend) - [2.5 RF1](#rf1) - - [2.6 FAQ](#faq) +3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) + - [3.1 Overview](#overview) + - [3.2 Cartoon hypotheticals](#cartoon-hypotheticals) + - [3.3 Real upcoming revnets](#real-upcoming-revnets) + - [3.4 FAQ](#faq) - [How would revnets work in the context of traditional capitalization structures?](#how-would-revnets-work-in-the-context-of-traditional-capitalization-structures) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) -3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - - [3.1 Cartoon hypotheticals](#cartoon-hypotheticals) - - [3.2 Real upcoming revnets](#real-upcoming-revnets) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) @@ -388,48 +389,6 @@ More about RF1 soon. 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? - -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. - -#### Should I invest in RRG, $REV, or...? - -There are five core entities in play: $REV, RRG LLC, RF1 LLC, $NANA, and JuiceboxDAO ($JBX). - -- For those onchain, build direct exposure to $REV to benefit from revenue growth without proxies. -- RRG LLC is an operational group whose mission is to grow $REV. It is not directly investable. -- RF1 LLC is the only current way to access the ecosystem for participants who don't want to access tokens directly onchain. RF1 will facilitate revnet interactions on traditional investors' behalf, albeit for a management fee. -- Also for those comfortable accessing tokens onchain, $JBX is a fixed-supply governance token which has been on the market for several years, now utilizing its treasury to build out the Juicebox ecosystem – the revnet project and several others were informally incubated from within JuiceboxDAO. It is expected to receive a split of $REV issuance and buybacks, making it a great proxy to build ongoing exposure to $REV's revenue growth – albeit subject to the risks associated with each entity's governance process. You can learn more [here](https://docs.juicebox.money/dao/). -- $NANA benefits from broad Juicebox V4 growth, including but not limited to revnets. It welcomes direct participation without proxies, though it will be largely held by Juicebox DAO. $JBX is likely a better vehicle for broad ecosystem exposure if you're comfortable with its current governance risks. - -#### 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 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. - -#### 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. - --- ![image](https://github.com/user-attachments/assets/ac3db796-bdfc-4cb3-be41-78428ecbf586) @@ -452,7 +411,7 @@ A revnet can belong to any number of these categories, and grow into others over There are likely other strategies for using revnets that we've yet to explore in depth. -### 3.3 Cartoon hypotheticals +### 3.2 Cartoon hypotheticals Below are some made up examples to supplement the above. @@ -562,6 +521,47 @@ 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. + +#### Should I invest in RRG, $REV, or...? + +There are five core entities in play: $REV, RRG LLC, RF1 LLC, $NANA, and JuiceboxDAO ($JBX). + +- For those onchain, build direct exposure to $REV to benefit from revenue growth without proxies. +- RRG LLC is an operational group whose mission is to grow $REV. It is not directly investable. +- RF1 LLC is the only current way to access the ecosystem for participants who don't want to access tokens directly onchain. RF1 will facilitate revnet interactions on traditional investors' behalf, albeit for a management fee. +- Also for those comfortable accessing tokens onchain, $JBX is a fixed-supply governance token which has been on the market for several years, now utilizing its treasury to build out the Juicebox ecosystem – the revnet project and several others were informally incubated from within JuiceboxDAO. It is expected to receive a split of $REV issuance and buybacks, making it a great proxy to build ongoing exposure to $REV's revenue growth – albeit subject to the risks associated with each entity's governance process. You can learn more [here](https://docs.juicebox.money/dao/). +- $NANA benefits from broad Juicebox V4 growth, including but not limited to revnets. It welcomes direct participation without proxies, though it will be largely held by Juicebox DAO. $JBX is likely a better vehicle for broad ecosystem exposure if you're comfortable with its current governance risks. + +#### 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 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. + +#### 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. From 65917158158b3f431bdd58d3dc4de44765c0f0c5 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 24 Aug 2024 15:32:06 -0300 Subject: [PATCH 32/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 647199e..4eb8fe4 100644 --- a/memo.md +++ b/memo.md @@ -192,7 +192,7 @@ Investors interested in the promise of revnets should know there are three core - **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. -It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets. Its upcoming Juicebox V4 protocol on which revnets are built will host a fee collecting project under the ticker $NANA, itself a revnet, which will be broadly held by Juicebox DAO. Think of $NANA as a unit of account capturing protocol revenues from V4 that accrue to $JBX governance. +It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets – revnets are built using Juicebox V4 after all. $JBX is the mothership and will continue to be the juicebox ecosystem's governance token that invests in its development while managing and allocating a book of assets, largely juicebox-based and revnet-based tokens it holds such as $NANA and $REV. $NANA is the upcoming Juicebox V4 protocol's fee collecting project, itself a revnet, which will be broadly held by Juicebox DAO. Think of $NANA as a unit of account capturing protocol revenues from V4 that accrue to $JBX governance. In summary, they have the following relationships: - $REV's split is operated by RRG, described below. From 4d23b4dfcc5dd0d345003112ce59a80dd045554f Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Tue, 27 Aug 2024 16:05:21 -0300 Subject: [PATCH 33/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 4eb8fe4..b4dfb23 100644 --- a/memo.md +++ b/memo.md @@ -568,7 +568,7 @@ Ethereum is one of a kind. We have incredible respect and gratitude for the work ![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) -[^1]: Increased demand for mobility due to mobile productivity, 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, and likely other reasons. +[^1]: 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, globalism, increase in cross-cultural families, and likely other reasons. [^2]: https://www.youtube.com/watch?v=D0ek2yv81Gk [^3]: https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm [^4]: https://ethereum.org/en/developers/docs/evm/ From 4a36e07b5e0137fb91e5cb04f8c75ac22188d42c Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Tue, 27 Aug 2024 16:06:35 -0300 Subject: [PATCH 34/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index b4dfb23..7e887c8 100644 --- a/memo.md +++ b/memo.md @@ -568,7 +568,7 @@ Ethereum is one of a kind. We have incredible respect and gratitude for the work ![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) -[^1]: 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, globalism, increase in cross-cultural families, and likely other reasons. +[^1]: 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. [^2]: https://www.youtube.com/watch?v=D0ek2yv81Gk [^3]: https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm [^4]: https://ethereum.org/en/developers/docs/evm/ From c40313b99375e2d814d805a5afa8887bfdfbabee Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 1 Sep 2024 16:51:15 -0300 Subject: [PATCH 35/91] Update memo.md --- memo.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index 7e887c8..72dd0e2 100644 --- a/memo.md +++ b/memo.md @@ -51,7 +51,7 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX Today's crypto and media networks have a business model problem, rooted in the tensions between open source productivity and private value capture. This has often led to misallocated resources and capital losses. -Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. +Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, AI-agents, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indie media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. @@ -61,9 +61,9 @@ Join us – a group of Web3 builders who have helped facilitate over $180 millio With today's societal demand for mobility[^1], open source and openly accounted-for fundraises and revenues should outcompete everything by enabling: -- **Scaled Participation:** Flexible and potentially global community with vested interests. +- **Scaled Participation:** Flexible and potentially-global community with vested interests. - **Full Transparency:** Public code and accounting is more trustworthy and easier to cooperate with. -- **Cost Efficiency:** Many managerial expenses are not needed when there are no secrets or artificial barriers to progress. +- **Cost Efficiency:** Many managerial and other expenses are not needed when there are no secrets or artificial barriers to progress. They struggle to enforce revenue-generation to pay for innovation, maintenance, and growth due to three core dilemmas: @@ -83,7 +83,7 @@ Auto-enforceable blockchain agreements are the correct building block on which t - **Grants and donations:** No tokenized monetization strategy, just builders and investors with an expectation that their value creation, if done openly, will be retroactively rewarded by altruists who directly benefited from the outcomes. - **No progress:** Take investments and fees to a centralized wallet to operate from just like traditional capital structures, with no networked benefits from the tools at our disposal apart perhaps from automated vesting, airdrops of meme tokens not actually backed by revenue, or tokenized accounting of its own books. -We need a better place to put our money. A revenue-forward growth-oriented solution that is sustainable, reliable, simple, and massively scalable to help every value-creating business with an online growth presence – local and global – realize their potential in the upcoming tokenized economy. +We need a better place to put our entrepreneurial capital and use it effectively. A revenue-forward growth-oriented solution that is sustainable, reliable, simple, and massively scalable to help every value-creating business with an online growth presence – local and global – realize their potential in the upcoming tokenized economy. We think revnets might be it: A win-win-win growth engine for investors, builders, and retail customers of open source and beyond. Built by developers who've helped facilitate over $185 million in ETH payments over their past 4 years of experience designing, building, securing, and distributing Ethereum-based tokenization infrastructure. From ee808b4a51f09a3433617d892ff979e83e149ebe Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 1 Sep 2024 17:31:36 -0300 Subject: [PATCH 36/91] Update memo.md --- memo.md | 2 ++ 1 file changed, 2 insertions(+) diff --git a/memo.md b/memo.md index 72dd0e2..1af4fbd 100644 --- a/memo.md +++ b/memo.md @@ -169,6 +169,8 @@ Revnets are the next step. They are an expression of the Juicebox language we kn Their time is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. +Speculatively, if AI-agent networks continue to gain adoption, revnets will exist to enrich users of AI-produced goods and serviecs who's marginal cost of work tends toward zero, in contrast to incumbent models that extract from users to enrich AIs and their centralized creators. + We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet. Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. This also means all revnets will show up on juicebox.money and other Juicebox explorers by default. Part 2 further explains how these entities relate. ### 1.5 Call to action From ca8eaff48cd9dfa0af0b3d5579bc0113f832f941 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 1 Sep 2024 17:36:30 -0300 Subject: [PATCH 37/91] Update memo.md --- memo.md | 5 +++++ 1 file changed, 5 insertions(+) diff --git a/memo.md b/memo.md index 1af4fbd..66b246f 100644 --- a/memo.md +++ b/memo.md @@ -42,6 +42,7 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [How would revnets work in the context of traditional capitalization structures?](#how-would-revnets-work-in-the-context-of-traditional-capitalization-structures) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) + - [Which blockchains?](#what-blockchains) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) @@ -561,6 +562,10 @@ There are five core entities in play: $REV, RRG LLC, RF1 LLC, $NANA, and Juicebo **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 $REV revnet specs are the 38% split that rrg.eth will operate, and the autominted tokens. RRG can play a part in reorienting priorities using the split in order to stimulate some desired behavior, and can reasonably expect the autominted token holders to act in the best interest of the network's growth. +#### Which blockchains? + +Revnets are built using the Juicebox V4 protocol, which can extend to any new blockchain that can accomodate its "Sucker" interfaces. We're starting on Ethereum, Optimism, Arbitrum, and Base because the Ethereum ecosystem prioritizes immutability and decentralizations more than most, they have the most financial liquidity, and they extend most simply from the previous versions of Juicebox which was Ethereum mainnet only. In order to deploy on Solana, for example, we'd first want to build a Solana version of Juicebox V4 – doable but not a priority right now. + #### I'm not sure exactly how revnets might fit my project, can I bounce ideas off someone? Yes absolutely, each project can have unique and important properties to design towards, and in the beginning we don't have many examples to follow. The Revnet telegram is a great place to reach out @revnet_eth, or discord at https://discord.gg/vhVxwh8aD9. If revnets don't turn out to fit your needs, you can always use the juicebox protocol directly for a more hands-on project that can be adapted over time. From 10ab424fae943b0bc1953001157a40c0fcd6bb2e Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 1 Sep 2024 17:37:12 -0300 Subject: [PATCH 38/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 66b246f..d0d33a8 100644 --- a/memo.md +++ b/memo.md @@ -42,7 +42,7 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [How would revnets work in the context of traditional capitalization structures?](#how-would-revnets-work-in-the-context-of-traditional-capitalization-structures) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) - - [Which blockchains?](#what-blockchains) + - [Which blockchains?](#which-blockchains) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) From a1cb67ffe2e68064622c01c6e69bd68784772097 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 1 Sep 2024 19:57:05 -0300 Subject: [PATCH 39/91] Update memo.md --- memo.md | 9 +++++++++ 1 file changed, 9 insertions(+) diff --git a/memo.md b/memo.md index d0d33a8..8b5d5ab 100644 --- a/memo.md +++ b/memo.md @@ -34,6 +34,7 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [Offchain management](#offchain-management) - [Spend](#spend) - [2.5 RF1](#rf1) + - [2.6 Visual flows](#visual-flows) 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - [3.1 Overview](#overview) - [3.2 Cartoon hypotheticals](#cartoon-hypotheticals) @@ -392,6 +393,14 @@ More about RF1 soon. Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). +### 2.6 Visual flows + +The following pay flow, cash out flow, and borrow flow illustrate how tokens move and how fees are taken. + +image +image +image + --- ![image](https://github.com/user-attachments/assets/ac3db796-bdfc-4cb3-be41-78428ecbf586) From e3b625f632488121d0178ea3e5e673194d8fea7d Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 1 Sep 2024 20:01:36 -0300 Subject: [PATCH 40/91] Update memo.md --- memo.md | 30 +++++++++++++++--------------- 1 file changed, 15 insertions(+), 15 deletions(-) diff --git a/memo.md b/memo.md index 8b5d5ab..b03720d 100644 --- a/memo.md +++ b/memo.md @@ -21,20 +21,20 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [2.2 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) - [Tuning](#tuning) - [Loans](#loans) - - [2.3 $REV](#rev-1) + - [2.3 Visual flows](#visual-flows) + - [2.4 $REV](#rev-1) - [$REV stage 1](#rev-stage-1) - [$REV stage 2](#rev-stage-2) - [$REV stage 3](#rev-stage-3) - [Accessibility](#accessibility) - - [2.4 RRG](#rrg) + - [2.5 RRG](#rrg) - [RRG Mission](#rrg-mission) - [Bottom line](#bottom-line) - [Structure](#structure) - [Onchain management](#onchain-management) - [Offchain management](#offchain-management) - [Spend](#spend) - - [2.5 RF1](#rf1) - - [2.6 Visual flows](#visual-flows) + - [2.6 RF1](#rf1) 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - [3.1 Overview](#overview) - [3.2 Cartoon hypotheticals](#cartoon-hypotheticals) @@ -264,7 +264,15 @@ Loans can last a maximum of 10 years. A borrower can choose to pay over time at 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. -### 2.3 $REV +### 2.3 Visual flows + +The following pay flow, cash out flow, and borrow flow illustrate each user journey and how fees are taken. + +image +image +image + +### 2.4 $REV RRG is setting up $REV's revnet rules attempting to emphasize the following principles: - **Simple:** Its rules play out in 3 stages that should be easy to think about, with occasional important shifts that feel ceremonial. @@ -323,7 +331,7 @@ 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) +### 2.5 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. @@ -385,7 +393,7 @@ The marketing todos include: - create a trustworthy brand. - run a "This Ad is funded by a revnet" campaign, and other concepts. -### 2.5 RF1 +### 2.6 RF1 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. @@ -393,14 +401,6 @@ More about RF1 soon. Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). -### 2.6 Visual flows - -The following pay flow, cash out flow, and borrow flow illustrate how tokens move and how fees are taken. - -image -image -image - --- ![image](https://github.com/user-attachments/assets/ac3db796-bdfc-4cb3-be41-78428ecbf586) From bf88812769f6135c7843e7d2e44965ce3a90e2c0 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 1 Sep 2024 20:03:42 -0300 Subject: [PATCH 41/91] Update memo.md --- memo.md | 4 +--- 1 file changed, 1 insertion(+), 3 deletions(-) diff --git a/memo.md b/memo.md index b03720d..df8f1e9 100644 --- a/memo.md +++ b/memo.md @@ -207,9 +207,7 @@ In summary, they have the following relationships: - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. - - -This section will go through these specifics in detail. +This section will go through these specifics in detail, with visual diagrams to show how these interactions work. ### 2.2 Anatomy of a revnet | Advanced From d82538c44244f7fb0221f8996384349074968936 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 1 Sep 2024 20:07:19 -0300 Subject: [PATCH 42/91] Update memo.md --- memo.md | 3 ++- 1 file changed, 2 insertions(+), 1 deletion(-) diff --git a/memo.md b/memo.md index df8f1e9..114fd20 100644 --- a/memo.md +++ b/memo.md @@ -268,7 +268,8 @@ The following pay flow, cash out flow, and borrow flow illustrate each user jour image image -image +image + ### 2.4 $REV From 6ed85fac70b2aedc94c6450d6582286a9c55025b Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 2 Sep 2024 09:22:34 -0300 Subject: [PATCH 43/91] Update memo.md --- memo.md | 7 ++++--- 1 file changed, 4 insertions(+), 3 deletions(-) diff --git a/memo.md b/memo.md index 114fd20..b438c24 100644 --- a/memo.md +++ b/memo.md @@ -266,9 +266,10 @@ Loans from all revnets also incur a 2.5% $NANA fee and a 0.5% $REV fee, in addit The following pay flow, cash out flow, and borrow flow illustrate each user journey and how fees are taken. -image -image -image +image +image +image + ### 2.4 $REV From 004fb8b0cb337c0b17f5c49f3c9e6ac95056078c Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 2 Sep 2024 09:23:43 -0300 Subject: [PATCH 44/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index b438c24..b7ac361 100644 --- a/memo.md +++ b/memo.md @@ -267,7 +267,7 @@ Loans from all revnets also incur a 2.5% $NANA fee and a 0.5% $REV fee, in addit The following pay flow, cash out flow, and borrow flow illustrate each user journey and how fees are taken. image -image +image image From 4f77b30a183c07b535a55955486846300b4e78ac Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 2 Sep 2024 09:25:13 -0300 Subject: [PATCH 45/91] Update memo.md --- memo.md | 3 +-- 1 file changed, 1 insertion(+), 2 deletions(-) diff --git a/memo.md b/memo.md index b7ac361..fdf9062 100644 --- a/memo.md +++ b/memo.md @@ -268,8 +268,7 @@ The following pay flow, cash out flow, and borrow flow illustrate each user jour image image -image - +image ### 2.4 $REV From fd569756a43ded24c969876a662ed44d2a7e576b Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 2 Sep 2024 09:27:16 -0300 Subject: [PATCH 46/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index fdf9062..dec8e42 100644 --- a/memo.md +++ b/memo.md @@ -266,7 +266,7 @@ Loans from all revnets also incur a 2.5% $NANA fee and a 0.5% $REV fee, in addit The following pay flow, cash out flow, and borrow flow illustrate each user journey and how fees are taken. -image +image image image From 2dcf12dae54e482561f93f7e74a177f6eb6e9fd4 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 6 Sep 2024 21:49:50 -0300 Subject: [PATCH 47/91] Update memo.md --- memo.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index dec8e42..91ddce2 100644 --- a/memo.md +++ b/memo.md @@ -218,12 +218,12 @@ Revnets unfold in stages. Each stage specifies five rules that dictate everythin | **Rule** | **Description** | |---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | **Duration** | How long does the stage last? A revnet’s final stage lasts forever. | -| **$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.
**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 means each revnet always quotes a cash out exchange rate 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 inherits 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. From 758c87b5f95a61067ab983c5500103803b7ea7fd Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 6 Sep 2024 21:57:27 -0300 Subject: [PATCH 48/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 91ddce2..a4e6bc4 100644 --- a/memo.md +++ b/memo.md @@ -344,7 +344,7 @@ 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 $REV balance towards marketing and ecosystem development, and accelerate new revnets with consulting, funding, tools, and staff. RRG will also have leverage to charge fees when facilitating access to revnets for traditional institutions. From d56fef02690808b725c09abf874ebbc14c4464da Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 6 Sep 2024 22:00:41 -0300 Subject: [PATCH 49/91] Update memo.md --- memo.md | 37 ++++++++++++++++++++----------------- 1 file changed, 20 insertions(+), 17 deletions(-) diff --git a/memo.md b/memo.md index a4e6bc4..70177f3 100644 --- a/memo.md +++ b/memo.md @@ -21,20 +21,21 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [2.2 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) - [Tuning](#tuning) - [Loans](#loans) - - [2.3 Visual flows](#visual-flows) - - [2.4 $REV](#rev-1) + - [2.3 $REV](#rev-1) - [$REV stage 1](#rev-stage-1) - [$REV stage 2](#rev-stage-2) - [$REV stage 3](#rev-stage-3) - [Accessibility](#accessibility) - - [2.5 RRG](#rrg) + - [2.4 RRG](#rrg) - [RRG Mission](#rrg-mission) - [Bottom line](#bottom-line) - [Structure](#structure) - [Onchain management](#onchain-management) - [Offchain management](#offchain-management) - [Spend](#spend) - - [2.6 RF1](#rf1) + - [2.5 RF1](#rf1) + - [2.6 Visual flows](#visual-flows) + 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - [3.1 Overview](#overview) - [3.2 Cartoon hypotheticals](#cartoon-hypotheticals) @@ -262,16 +263,7 @@ Loans can last a maximum of 10 years. A borrower can choose to pay over time at 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. -### 2.3 Visual flows - -The following pay flow, cash out flow, and borrow flow illustrate each user journey and how fees are taken. - -image -image -image - - -### 2.4 $REV +### 2.3 $REV RRG is setting up $REV's revnet rules attempting to emphasize the following principles: - **Simple:** Its rules play out in 3 stages that should be easy to think about, with occasional important shifts that feel ceremonial. @@ -330,7 +322,7 @@ 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. -### 2.5 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. @@ -392,13 +384,24 @@ The marketing todos include: - create a trustworthy brand. - run a "This Ad is funded by a revnet" campaign, and other concepts. -### 2.6 RF1 +#### Contact + +Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). + +### 2.5 RF1 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. -Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). +### 2.6 Visual flows + +The following pay flow, cash out flow, and borrow flow illustrate each user journey and how fees are taken. + +image +image +image + --- From b59f2710493575a5568f19caf325eacda87d7b08 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 6 Sep 2024 22:10:34 -0300 Subject: [PATCH 50/91] Update memo.md --- memo.md | 14 +++++++------- 1 file changed, 7 insertions(+), 7 deletions(-) diff --git a/memo.md b/memo.md index 70177f3..da92332 100644 --- a/memo.md +++ b/memo.md @@ -197,7 +197,7 @@ Investors interested in the promise of revnets should know there are three core - **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. -It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets – revnets are built using Juicebox V4 after all. $JBX is the mothership and will continue to be the juicebox ecosystem's governance token that invests in its development while managing and allocating a book of assets, largely juicebox-based and revnet-based tokens it holds such as $NANA and $REV. $NANA is the upcoming Juicebox V4 protocol's fee collecting project, itself a revnet, which will be broadly held by Juicebox DAO. Think of $NANA as a unit of account capturing protocol revenues from V4 that accrue to $JBX governance. +It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets – revnets are built using Juicebox V4 after all. $JBX is the mothership and will continue to be the juicebox ecosystem's governance token that invests in its development while managing and allocating a book of assets, largely juicebox-based and revnet-based tokens it holds such as $NANA, $REV, $BANNY, etc. $NANA and $BANNY are explained in section 3 of this memo, $REV is explained below. In summary, they have the following relationships: - $REV's split is operated by RRG, described below. @@ -380,7 +380,7 @@ 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. @@ -460,7 +460,7 @@ An onchain game can route a fee from its smart contracts to a revnet, splitting ### 3.3 Upcoming revnets -Below are some other revnets we're helping launch this next year within each of these categories: +Below are some other revnets we're helping launch this next year within each of these categories. They are game changers. ### $NANA | | | @@ -480,10 +480,10 @@ Below are some other revnets we're helping launch this next year within each of | **Site** | [https://banny.eth.sucks](https://banny.eth.sucks) | | **Business model category** | Direct sales | | **Organizational category** | Hybrid | -| **Value prop** | Captures revenues from [Bannyverse mints](https://mint.banny.eth.sucks). | -| **$BANNY distribution** | Banana Box Office Entertainment (BBO) & JuiceboxDAO will each start out with some initial supply. BBO will retain a percentage of supply as $BANNY are issued or bought back. | -| **Big bet** | Banny's relatability and bluntness can make him a modern internet icon, and the production team is ripe to make it happen. If Banny successfully makes modern tech culture's ambitions and hypocrisy relatable through the propagation of stories, assets, and values, the Bannyverse can accompany the growth of the post-platform internet.

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, $BANNY and BBO are uniquely positioned to distribute the values that Banny has grown synonymous with over the years, while making the novel token-based concepts it's associated with approachable. | +| **Value prop** | Captures revenues from [Banny mints](https://mint.banny.eth.sucks). | +| **$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. | ### $SUCKS From 389c25f39c83b1a6003b3747f7b6808607e602bf Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 6 Sep 2024 22:16:51 -0300 Subject: [PATCH 51/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index da92332..244377a 100644 --- a/memo.md +++ b/memo.md @@ -465,7 +465,7 @@ Below are some other revnets we're helping launch this next year within each of ### $NANA | | | |------|--------| -| **Site** | [https://nana.eth.sucks](https://bananapus.eth.sucks) | +| **Site** | [https://nana.eth.sucks](https://nana.eth.sucks) | | **Business model category** | Direct sales | | **Organizational category** | Onchain | | **Value prop** | Captures revenues from the omnichain Juicebox V4's 2.5% fee. | From 9aeb4af8788a838972c020d01267d8d6ccaf2821 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 6 Sep 2024 22:40:05 -0300 Subject: [PATCH 52/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 244377a..d7440ea 100644 --- a/memo.md +++ b/memo.md @@ -4,7 +4,7 @@ This memo makes the case for revnets and $REV. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. 2. **What are the terms?:** Includes specifics of how you are invited to participate as investors, and an FAQ. -3. **What do they look like?:** Illustrates the opportunity with examples and case studies. +3. **What do they look like?:** Illustrates the opportunity with examples, case studies, and a peak into various game changing revnets being planned. Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX), whose upcoming Juicebox V4 protocol will host a fee collecting project modeled as a revnet. From e3a40124176fe64e1f4f4db4ef81a6b74c6fa80c Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 6 Sep 2024 22:46:11 -0300 Subject: [PATCH 53/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index d7440ea..691b690 100644 --- a/memo.md +++ b/memo.md @@ -182,7 +182,7 @@ Revnets can power millions of startups to become global movements, high net-wort With revnets, the open internet will outcompete private alternatives _because_ it best serves creatives, builders, investors, and consumers alike. -We're calling on partners who believe in this revenue-forward version of the open internet to join the $REV network. The more we help each emergent revnet win, the more we win, the more the open internet wins. Read Part 2 of this memo if you're leaning in, and join the $REV testnet https://www.revnet.app/sepolia/net/2. +We're calling on all who believe in this revenue-forward version of the open internet to join the $REV network. The more we help each emergent revnet win, the more we win, the more the open internet wins. Read Part 2 of this memo if you're leaning in, and join the $REV testnet https://www.revnet.app/sepolia/net/2. --- From c9523c22aecefbbddf0820bed2d564b20e915e2f Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 6 Sep 2024 22:57:46 -0300 Subject: [PATCH 54/91] Update memo.md --- memo.md | 32 ++++++++++++++++---------------- 1 file changed, 16 insertions(+), 16 deletions(-) diff --git a/memo.md b/memo.md index 691b690..c500add 100644 --- a/memo.md +++ b/memo.md @@ -10,37 +10,37 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX ## Contents 1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) - - [1.1 TLDR](#tldr) - - [1.2 Overview](#overview) - - [1.3 Anatomy of a revnet | Introduction](#anatomy-of-a-revnet-intro) - - [1.4 Why now? Why us?](#why-now-why-us) - - [1.5 Call to action](#call-to-action) - - [1.6 Examples](#examples) + - [1.1 TLDR](#1.1-tldr) + - [1.2 Overview](#1.2-overview) + - [1.3 Anatomy of a revnet | Introduction](#1.3-anatomy-of-a-revnet-intro) + - [1.4 Why now? Why us?](#1.4-why-now-why-us) + - [1.5 Call to action](#1.5-call-to-action) + - [1.6 Examples](#1.6-examples) 2. [Part 2 – What are the terms?](#part-2--what-are-the-terms) - - [2.1 Overview](#overview) - - [2.2 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) + - [2.1 Overview](#2.1-overview) + - [2.2 Anatomy of a revnet | Advanced](#2.2-anatomy-of-a-revnet-advanced) - [Tuning](#tuning) - [Loans](#loans) - - [2.3 $REV](#rev-1) + - [2.3 $REV](#2.3-rev-1) - [$REV stage 1](#rev-stage-1) - [$REV stage 2](#rev-stage-2) - [$REV stage 3](#rev-stage-3) - [Accessibility](#accessibility) - - [2.4 RRG](#rrg) + - [2.4 RRG](#2.4-rrg) - [RRG Mission](#rrg-mission) - [Bottom line](#bottom-line) - [Structure](#structure) - [Onchain management](#onchain-management) - [Offchain management](#offchain-management) - [Spend](#spend) - - [2.5 RF1](#rf1) - - [2.6 Visual flows](#visual-flows) + - [2.5 RF1](#2.5-rf1) + - [2.6 Visual flows](#2.6-visual-flows) 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - - [3.1 Overview](#overview) - - [3.2 Cartoon hypotheticals](#cartoon-hypotheticals) - - [3.3 Real upcoming revnets](#real-upcoming-revnets) - - [3.4 FAQ](#faq) + - [3.1 Overview](#3.1-overview) + - [3.2 Cartoon hypotheticals](#3.2-cartoon-hypotheticals) + - [3.3 Real upcoming revnets](#3.3-real-upcoming-revnets) + - [3.4 FAQ](#3.4-faq) - [How would revnets work in the context of traditional capitalization structures?](#how-would-revnets-work-in-the-context-of-traditional-capitalization-structures) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) From eb47aabd9c2a8f042d4fbd1b7a4dd8ebf55691a5 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 7 Sep 2024 16:54:11 -0300 Subject: [PATCH 55/91] Update memo.md --- memo.md | 7 +++---- 1 file changed, 3 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index c500add..d9189e1 100644 --- a/memo.md +++ b/memo.md @@ -398,10 +398,9 @@ More about RF1 soon. The following pay flow, cash out flow, and borrow flow illustrate each user journey and how fees are taken. -image -image -image - +image +image +image --- From 68789f67038b374107581898e54cdfba50548efb Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 7 Sep 2024 17:19:22 -0300 Subject: [PATCH 56/91] Update memo.md --- memo.md | 34 +++++++++++++++++++++------------- 1 file changed, 21 insertions(+), 13 deletions(-) diff --git a/memo.md b/memo.md index d9189e1..7875365 100644 --- a/memo.md +++ b/memo.md @@ -342,36 +342,39 @@ RRG will also have leverage to charge fees when facilitating access to revnets f #### 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 2/3 multisig at `rrg.eth`. The multisig is controlled by: - `breadfruit.eth` (jango) -- `filipv.eth` (Filip) -- `codalabs.eth` (Aeolian) -- `kmac.eth` (Kmac) - `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: -[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). +#### Spend -[KMac](https://kmacb.eth.limo) is an experienced entrepreneur who has been contributing to multiple DAOs including Solace, Purple, Juicebox and Defifa. +RRG will use the $REV it earns to support the launch, security, and distribution of revnet.app and associated revnets. We will -Robert Leonhard is the co-founder of [Open Esquire](https://openesq.tech), a group of legal engineers serving Ethereum projects and many Juicebox projects. +1. staff jango (project/contract/tech lead). +2. look to hire a client-side lead for revnet.app (since aeolian will be handing off development once deployed). +3. look to hire an operations lead (since filip will be handing off ops responsibilities once deployed). +4. retain rob (legal). +5. retain kmac (advisor, helper). -#### Spend +[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. -RRG will use the $REV it earns to support the launch, security, and distribution of revnet.app and associated revnets. We will staff jango (project/tech lead), filip (ops/tech lead), aeolian (consumer/tech lead), kmac (marketing/tech lead), and rob (legal). +[KMac](https://kmacb.eth.limo) is an experienced entrepreneur who has been contributing to multiple DAOs including Solace, Purple, Juicebox and Defifa. The technical and product todos include: - iterate on revnet.app to best serve revnet participation and creation. @@ -384,6 +387,11 @@ The marketing todos include: - create a trustworthy brand. - run a "This Ad is funded by a revnet" campaign, and other concepts. +The partnership todos include: +- make the case to founders, DAOs, and VCs that they should be structuring their deals as revnets. +- mediate between offchain interactions and onchain revnet transactions on behalf of traditional partners. +- build relationships with the support structures of each blockchain revnets operate on. + #### Contact Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). From d4028f3b65879ee2f88f95e520713e1961417c1a Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 7 Sep 2024 17:22:18 -0300 Subject: [PATCH 57/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 7875365..82c33a3 100644 --- a/memo.md +++ b/memo.md @@ -26,7 +26,7 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [$REV stage 2](#rev-stage-2) - [$REV stage 3](#rev-stage-3) - [Accessibility](#accessibility) - - [2.4 RRG](#2.4-rrg) + - [2.4 Revnet Research Group (RRG)](#2.4-revnet-research-group-rrg) - [RRG Mission](#rrg-mission) - [Bottom line](#bottom-line) - [Structure](#structure) From 640b65cc491ed6c070346cb3f7b5ce132d3f3c2c Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 7 Sep 2024 18:19:13 -0300 Subject: [PATCH 58/91] Update memo.md --- memo.md | 10 ++++++++-- 1 file changed, 8 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 82c33a3..1b81d8e 100644 --- a/memo.md +++ b/memo.md @@ -346,20 +346,26 @@ RRG, LLC will be a Delaware-based entity primarily engaged in investing in $REV #### Onchain management -Onchain, RRG will manage its $REV with a 2/3 multisig at `rrg.eth`. The multisig is controlled by: +Onchain, RRG will manage its $REV with a 2/4 multisig at `rrg.eth`. The multisig is controlled by: - `breadfruit.eth` (jango) +- `0xBa5ed.eth` (0xBa5ed) - `dao.jbx.eth` (JuiceboxDAO) - `openesquire.eth` (Robert Leonhard) #### Offchain management -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: +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 and Nowonder – among those most knowledgable about Juicebox smart contracts. [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. Robert Leonhard is the co-founder of [Open Esquire](https://openesq.tech), a group of legal engineers serving Ethereum projects and many Juicebox projects. +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. + +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. + + #### Spend RRG will use the $REV it earns to support the launch, security, and distribution of revnet.app and associated revnets. We will From 0286bc9a46c86011c5ad0e83674ffeecec7aac46 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 7 Sep 2024 18:24:08 -0300 Subject: [PATCH 59/91] Update memo.md --- memo.md | 32 ++++++++++++++++---------------- 1 file changed, 16 insertions(+), 16 deletions(-) diff --git a/memo.md b/memo.md index 1b81d8e..4bc1499 100644 --- a/memo.md +++ b/memo.md @@ -10,37 +10,37 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX ## Contents 1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) - - [1.1 TLDR](#1.1-tldr) - - [1.2 Overview](#1.2-overview) - - [1.3 Anatomy of a revnet | Introduction](#1.3-anatomy-of-a-revnet-intro) - - [1.4 Why now? Why us?](#1.4-why-now-why-us) - - [1.5 Call to action](#1.5-call-to-action) - - [1.6 Examples](#1.6-examples) + - [1.1 TLDR](#1-1-tldr) + - [1.2 Overview](#1-2-overview) + - [1.3 Anatomy of a revnet | Introduction](#1-3-anatomy-of-a-revnet-intro) + - [1.4 Why now? Why us?](#1-4-why-now-why-us) + - [1.5 Call to action](#1-5-call-to-action) + - [1.6 Examples](#1-6-examples) 2. [Part 2 – What are the terms?](#part-2--what-are-the-terms) - - [2.1 Overview](#2.1-overview) - - [2.2 Anatomy of a revnet | Advanced](#2.2-anatomy-of-a-revnet-advanced) + - [2.1 Overview](#2-1-overview) + - [2.2 Anatomy of a revnet | Advanced](#2-2-anatomy-of-a-revnet-advanced) - [Tuning](#tuning) - [Loans](#loans) - - [2.3 $REV](#2.3-rev-1) + - [2.3 $REV](#2-3-rev-1) - [$REV stage 1](#rev-stage-1) - [$REV stage 2](#rev-stage-2) - [$REV stage 3](#rev-stage-3) - [Accessibility](#accessibility) - - [2.4 Revnet Research Group (RRG)](#2.4-revnet-research-group-rrg) + - [2.4 Revnet Research Group (RRG)](#2-4-revnet-research-group-rrg) - [RRG Mission](#rrg-mission) - [Bottom line](#bottom-line) - [Structure](#structure) - [Onchain management](#onchain-management) - [Offchain management](#offchain-management) - [Spend](#spend) - - [2.5 RF1](#2.5-rf1) - - [2.6 Visual flows](#2.6-visual-flows) + - [2.5 RF1](#2-5-rf1) + - [2.6 Visual flows](#2-6-visual-flows) 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - - [3.1 Overview](#3.1-overview) - - [3.2 Cartoon hypotheticals](#3.2-cartoon-hypotheticals) - - [3.3 Real upcoming revnets](#3.3-real-upcoming-revnets) - - [3.4 FAQ](#3.4-faq) + - [3.1 Overview](#3-1-overview) + - [3.2 Cartoon hypotheticals](#3-2-cartoon-hypotheticals) + - [3.3 Real upcoming revnets](#3-3-real-upcoming-revnets) + - [3.4 FAQ](#3-4-faq) - [How would revnets work in the context of traditional capitalization structures?](#how-would-revnets-work-in-the-context-of-traditional-capitalization-structures) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) From f6c44043021981d28c8f8a4d60d8db90d1c1b6ff Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 7 Sep 2024 23:12:12 -0300 Subject: [PATCH 60/91] Update memo.md --- memo.md | 5 +++-- 1 file changed, 3 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 4bc1499..d9a12c0 100644 --- a/memo.md +++ b/memo.md @@ -346,10 +346,11 @@ RRG, LLC will be a Delaware-based entity primarily engaged in investing in $REV #### Onchain management -Onchain, RRG will manage its $REV with a 2/4 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) - `0xBa5ed.eth` (0xBa5ed) +- `noobwonder.eth` (nowonder) - `dao.jbx.eth` (JuiceboxDAO) - `openesquire.eth` (Robert Leonhard) @@ -370,7 +371,7 @@ Nowonder has been working on Juicebox since 2023, helping to write a complete te 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). +1. staff jango (project/contract/tech lead), 0xBa5ed (tooling lead), Nowonder (testing lead). 2. look to hire a client-side lead for revnet.app (since aeolian will be handing off development once deployed). 3. look to hire an operations lead (since filip will be handing off ops responsibilities once deployed). 4. retain rob (legal). From 5e383d8c859aee2439487a190a474d0a312e8750 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 9 Sep 2024 08:28:45 -0300 Subject: [PATCH 61/91] Update memo.md --- memo.md | 8 +++++--- 1 file changed, 5 insertions(+), 3 deletions(-) diff --git a/memo.md b/memo.md index d9a12c0..ac1a461 100644 --- a/memo.md +++ b/memo.md @@ -571,11 +571,13 @@ Revnet Research Group (RRG) exemplifies this approach by taking a 40% split of t There are five core entities in play: $REV, RRG LLC, RF1 LLC, $NANA, and JuiceboxDAO ($JBX). -- For those onchain, build direct exposure to $REV to benefit from revenue growth without proxies. +Here's a good overview of this topic approached more from the $JBX and $REV perspectives: [https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/](https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/) + +- For those comfortable accessing tokens onchain, $JBX is a fixed-supply governance token which has been on the market for several years, now utilizing its treasury to build out the Juicebox ecosystem – the revnet project and several others were informally incubated from within JuiceboxDAO. It is expected to receive a split of $REV issuance and buybacks, making it a great proxy to build ongoing exposure to $REV's revenue growth – albeit subject to the risks associated with its governance process. You can learn more [here](https://docs.juicebox.money/dao/). +- Also for those onchain, build direct exposure to $REV to benefit from revenue growth without governance proxies, while also providing direct operating capital to RRG. - RRG LLC is an operational group whose mission is to grow $REV. It is not directly investable. - RF1 LLC is the only current way to access the ecosystem for participants who don't want to access tokens directly onchain. RF1 will facilitate revnet interactions on traditional investors' behalf, albeit for a management fee. -- Also for those comfortable accessing tokens onchain, $JBX is a fixed-supply governance token which has been on the market for several years, now utilizing its treasury to build out the Juicebox ecosystem – the revnet project and several others were informally incubated from within JuiceboxDAO. It is expected to receive a split of $REV issuance and buybacks, making it a great proxy to build ongoing exposure to $REV's revenue growth – albeit subject to the risks associated with each entity's governance process. You can learn more [here](https://docs.juicebox.money/dao/). -- $NANA benefits from broad Juicebox V4 growth, including but not limited to revnets. It welcomes direct participation without proxies, though it will be largely held by Juicebox DAO. $JBX is likely a better vehicle for broad ecosystem exposure if you're comfortable with its current governance risks. +- $NANA benefits from broad Juicebox V4 growth, including but not limited to revnets. It welcomes direct participation without proxies, though it will be largely held by Juicebox DAO. $JBX is certainly a better vehicle for broad ecosystem exposure if you're comfortable with its current governance risks. #### What are the risks I should be aware of? From a17da210f0244e05a2fdb2c57734bb12909151e1 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Wed, 11 Sep 2024 19:54:52 -0300 Subject: [PATCH 62/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index ac1a461..c563690 100644 --- a/memo.md +++ b/memo.md @@ -285,7 +285,7 @@ _Price increases by 50% every 90 days. 40% of issuance and buybacks to Revnet Re | **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 40% over time (or relinquish the power), and will receive the initial automint. Prospectively, the 40% split will have 32% 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. ##### $REV stage 2 From d493efc7dbd09393ca85df42f032705584d5bc3a Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 12 Sep 2024 14:55:38 -0300 Subject: [PATCH 63/91] Update memo.md --- memo.md | 58 ++++++++++++++++++++++++++++++++++----------------------- 1 file changed, 35 insertions(+), 23 deletions(-) diff --git a/memo.md b/memo.md index c563690..939ee89 100644 --- a/memo.md +++ b/memo.md @@ -10,37 +10,37 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX ## Contents 1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) - - [1.1 TLDR](#1-1-tldr) - - [1.2 Overview](#1-2-overview) - - [1.3 Anatomy of a revnet | Introduction](#1-3-anatomy-of-a-revnet-intro) - - [1.4 Why now? Why us?](#1-4-why-now-why-us) - - [1.5 Call to action](#1-5-call-to-action) - - [1.6 Examples](#1-6-examples) + - [1.1 TLDR](#1.1-tldr) + - [1.2 Overview](#1.2-overview) + - [1.3 Anatomy of a revnet | Introduction](#1.3-anatomy-of-a-revnet-intro) + - [1.4 Why now? Why us?](#1.4-why-now-why-us) + - [1.5 Call to action](#1.5-call-to-action) + - [1.6 Examples](#1.6-examples) 2. [Part 2 – What are the terms?](#part-2--what-are-the-terms) - - [2.1 Overview](#2-1-overview) - - [2.2 Anatomy of a revnet | Advanced](#2-2-anatomy-of-a-revnet-advanced) + - [2.1 Overview](#2.1-overview) + - [2.2 Anatomy of a revnet | Advanced](#2.2-anatomy-of-a-revnet-advanced) - [Tuning](#tuning) - [Loans](#loans) - - [2.3 $REV](#2-3-rev-1) + - [2.3 $REV](#2.3-rev-1) - [$REV stage 1](#rev-stage-1) - [$REV stage 2](#rev-stage-2) - [$REV stage 3](#rev-stage-3) - [Accessibility](#accessibility) - - [2.4 Revnet Research Group (RRG)](#2-4-revnet-research-group-rrg) + - [2.4 Revnet Research Group (RRG)](#2.4-revnet-research-group-rrg) - [RRG Mission](#rrg-mission) - [Bottom line](#bottom-line) - [Structure](#structure) - [Onchain management](#onchain-management) - [Offchain management](#offchain-management) - [Spend](#spend) - - [2.5 RF1](#2-5-rf1) - - [2.6 Visual flows](#2-6-visual-flows) + - [2.5 RF1](#2.5-rf1) + - [2.6 Visual flows](#2.6-visual-flows) 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - - [3.1 Overview](#3-1-overview) - - [3.2 Cartoon hypotheticals](#3-2-cartoon-hypotheticals) - - [3.3 Real upcoming revnets](#3-3-real-upcoming-revnets) - - [3.4 FAQ](#3-4-faq) + - [3.1 Overview](#3.1-overview) + - [3.2 Cartoon hypotheticals](#3.2-cartoon-hypotheticals) + - [3.3 Real upcoming revnets](#3.3-real-upcoming-revnets) + - [3.4 FAQ](#3.4-faq) - [How would revnets work in the context of traditional capitalization structures?](#how-would-revnets-work-in-the-context-of-traditional-capitalization-structures) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) @@ -170,7 +170,12 @@ We've also seen the negligence and gross extractive tendencies that over-leverag Revnets are the next step. They are an expression of the Juicebox language we know so well, and the tokenized standard we're sorely missing to encourage more projects – many of our own – to hit the gas with confidence and without incumbent tradeoffs. -Their time is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. +For those already familiar with Juicebox, note that revnets are just Juicebox projects with three special traits: +- **No Ownership:** They are owned by a special smart contract that enforces rules throughout the project's life, as opposed to being owned by an entity that can influence changes over time. This contract grants a few scoped permissions to the address initially specified as the revnet's split operator. +- **No Payouts:** They have no payouts, meaning all funds stay in the treasury backing the value of the project's tokens, and can only be accessed by token holders themselves. +- **Revnet fee:** They incur an extra 2.5% fee on cash outs (redemptions), accruing to $REV. + +The time for revnets is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. Speculatively, if AI-agent networks continue to gain adoption, revnets will exist to enrich users of AI-produced goods and serviecs who's marginal cost of work tends toward zero, in contrast to incumbent models that extract from users to enrich AIs and their centralized creators. @@ -285,7 +290,7 @@ _Price increases by 50% every 90 days. 40% of issuance and buybacks to Revnet Re | **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 32% 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. +> 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 42% 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 @@ -351,12 +356,13 @@ Onchain, RRG will manage its $REV with a 3/5 multisig at `rrg.eth`. The multisig - `breadfruit.eth` (jango) - `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, with legal counsel from Robert and with help from other members of the Juicebox community, including 0xBa5ed and Nowonder – among those most knowledgable about Juicebox smart contracts. +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) cofounded and has developed the [Juicebox](https://juicebox.money) protocol to support organizational money experiments on the public internet over the past 4 years. @@ -364,6 +370,10 @@ Robert Leonhard is the co-founder of [Open Esquire](https://openesq.tech), a gro 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. +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. @@ -371,11 +381,12 @@ Nowonder has been working on Juicebox since 2023, helping to write a complete te RRG will use the $REV it earns to support the launch, security, and distribution of revnet.app and associated revnets. We will -1. staff jango (project/contract/tech lead), 0xBa5ed (tooling lead), Nowonder (testing lead). -2. look to hire a client-side lead for revnet.app (since aeolian will be handing off development once deployed). +1. staff jango (project/contract/tech lead). +2. staff 0xBa5ed and Nowonder as dev tooling and contract security leads. +2. staff JohnnyD and Wraeth as client-side leads for revnet.app (since aeolian will be handing off development once deployed). 3. look to hire an operations lead (since filip will be handing off ops responsibilities once deployed). +5. staff kmac (bizdev). 4. retain rob (legal). -5. retain kmac (advisor, helper). [Aeolian](https://x.com/aeolianeth) has been working on Juicebox since November 2021, and leading the development of [juicebox.money](https://juicebox.money) since 2022. Aeolian also makes essential tools to support the Juicebox ecosystem: [juicescan.io](https://www.juicescan.io), the [Juicebox SDK](https://github.com/Bananapus/juice-sdk-v4), and the in-progress [revnet.app](https://revnet.app). @@ -494,7 +505,7 @@ Below are some other revnets we're helping launch this next year within each of | **Site** | [https://banny.eth.sucks](https://banny.eth.sucks) | | **Business model category** | Direct sales | | **Organizational category** | Hybrid | -| **Value prop** | Captures revenues from [Banny mints](https://mint.banny.eth.sucks). | +| **Value prop** | Captures revenues from the [Banny shop](https://shop.banny.eth.sucks). | | **$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. | @@ -579,6 +590,7 @@ Here's a good overview of this topic approached more from the $JBX and $REV pers - RF1 LLC is the only current way to access the ecosystem for participants who don't want to access tokens directly onchain. RF1 will facilitate revnet interactions on traditional investors' behalf, albeit for a management fee. - $NANA benefits from broad Juicebox V4 growth, including but not limited to revnets. It welcomes direct participation without proxies, though it will be largely held by Juicebox DAO. $JBX is certainly a better vehicle for broad ecosystem exposure if you're comfortable with its current governance risks. + #### 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 is always encouraging more eyes on the open source code base. Ultimately, smart contract security comes from production lindiness while managing funds at risk. From 30c9f05191548ba42fa09889c341edc206854da5 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 12 Sep 2024 22:50:55 -0300 Subject: [PATCH 64/91] Update memo.md --- memo.md | 22 +++++++++++++--------- 1 file changed, 13 insertions(+), 9 deletions(-) diff --git a/memo.md b/memo.md index 939ee89..716a725 100644 --- a/memo.md +++ b/memo.md @@ -3,8 +3,8 @@ This memo makes the case for revnets and $REV. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. -2. **What are the terms?:** Includes specifics of how you are invited to participate as investors, and an FAQ. -3. **What do they look like?:** Illustrates the opportunity with examples, case studies, and a peak into various game changing revnets being planned. +2. **What are the terms?:** Includes specifics of how you are invited to participate as investors. +3. **What do they look like?:** Illustrates the opportunity with examples, case studies, and a peak into various game changing revnets being planned. Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX), whose upcoming Juicebox V4 protocol will host a fee collecting project modeled as a revnet. @@ -52,9 +52,11 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX ### 1.1 TLDR -Today's crypto and media networks have a business model problem, rooted in the tensions between open source productivity and private value capture. This has often led to misallocated resources and capital losses. +Today's crypto and media networks have a business model problem, rooted in the tensions between open source productivity and private value capture. -Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, AI-agents, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. +As the web rapidly tends towards being more open – with financial agreements expressed as crypto protocols on public blockchains, and AIs able to generate code and information of just about anything – we need a value capture system that resolves this tension and reorients us towards collaborative growth. + +Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indie media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. @@ -62,7 +64,7 @@ Join us – a group of Web3 builders who have helped facilitate over $180 millio ### 1.2 Overview -With today's societal demand for mobility[^1], open source and openly accounted-for fundraises and revenues should outcompete everything by enabling: +Open source and openly accounted-for fundraises and revenues should outcompete everything by enabling: - **Scaled Participation:** Flexible and potentially-global community with vested interests. - **Full Transparency:** Public code and accounting is more trustworthy and easier to cooperate with. @@ -76,7 +78,7 @@ They struggle to enforce revenue-generation to pay for innovation, maintenance, This makes realizing open ideals reliant on free and inconsistent labor, donations, grants, or corporate sponsorship, when this should instead be the most investable and rewarding category of internet business. -Auto-enforceable blockchain agreements are the correct building block on which to build legitimate decentralized value networks, but today's attempted business model solutions are incomplete and come with unsustainable tradeoffs. Businesses and investors currently have the following options for monetizing onchain: +Web3's auto-enforceable blockchain agreements are the correct building block on which to build legitimate decentralized value networks, but today's attempted business model solutions are incomplete and come with unsustainable tradeoffs. Businesses and investors currently have the following options for monetizing onchain: - **Liquidity farming:** Tokenized models marketed as open and yield providing, but with implicit or explicit backdoors for insiders to dump on retail once they've filled their bags. - **Governance DAOs:** Tokenized voting systems that decide how raised funds and revenues should be spent, creating power struggles that get in the way of effective capital allocation. @@ -85,7 +87,9 @@ Auto-enforceable blockchain agreements are the correct building block on which t - **Custom mechanisms:** Custom tokenization dynamic with a unique set of coded rules that attempt to fulfill a desired set of outcomes, but requiring everyone to learn a new jargon-filled system and trust that it is implemented bug free. - **Grants and donations:** No tokenized monetization strategy, just builders and investors with an expectation that their value creation, if done openly, will be retroactively rewarded by altruists who directly benefited from the outcomes. - **No progress:** Take investments and fees to a centralized wallet to operate from just like traditional capital structures, with no networked benefits from the tools at our disposal apart perhaps from automated vesting, airdrops of meme tokens not actually backed by revenue, or tokenized accounting of its own books. - + +These have often led to misallocated resources and capital losses. + We need a better place to put our entrepreneurial capital and use it effectively. A revenue-forward growth-oriented solution that is sustainable, reliable, simple, and massively scalable to help every value-creating business with an online growth presence – local and global – realize their potential in the upcoming tokenized economy. We think revnets might be it: A win-win-win growth engine for investors, builders, and retail customers of open source and beyond. Built by developers who've helped facilitate over $185 million in ETH payments over their past 4 years of experience designing, building, securing, and distributing Ethereum-based tokenization infrastructure. @@ -614,7 +618,7 @@ Ethereum is one of a kind. We have incredible respect and gratitude for the work ![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) -[^1]: 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. -[^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/ From a3ec5bb8791e61c0572e1d8c0462225ce6baa366 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 12 Sep 2024 22:55:49 -0300 Subject: [PATCH 65/91] Update memo.md --- memo.md | 3 +-- 1 file changed, 1 insertion(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 716a725..2e33832 100644 --- a/memo.md +++ b/memo.md @@ -174,10 +174,9 @@ We've also seen the negligence and gross extractive tendencies that over-leverag Revnets are the next step. They are an expression of the Juicebox language we know so well, and the tokenized standard we're sorely missing to encourage more projects – many of our own – to hit the gas with confidence and without incumbent tradeoffs. -For those already familiar with Juicebox, note that revnets are just Juicebox projects with three special traits: +For those already familiar with Juicebox, note that revnets are Juicebox projects with two main restrictions: - **No Ownership:** They are owned by a special smart contract that enforces rules throughout the project's life, as opposed to being owned by an entity that can influence changes over time. This contract grants a few scoped permissions to the address initially specified as the revnet's split operator. - **No Payouts:** They have no payouts, meaning all funds stay in the treasury backing the value of the project's tokens, and can only be accessed by token holders themselves. -- **Revnet fee:** They incur an extra 2.5% fee on cash outs (redemptions), accruing to $REV. The time for revnets is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. From a5aea77c73b6ed4a5de46d11e6116d0e0b9f9266 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 12 Sep 2024 23:10:07 -0300 Subject: [PATCH 66/91] Update memo.md --- memo.md | 16 +++++++++------- 1 file changed, 9 insertions(+), 7 deletions(-) diff --git a/memo.md b/memo.md index 2e33832..a2b5d47 100644 --- a/memo.md +++ b/memo.md @@ -6,7 +6,7 @@ This memo makes the case for revnets and $REV. It is delivered in 3 parts: 2. **What are the terms?:** Includes specifics of how you are invited to participate as investors. 3. **What do they look like?:** Illustrates the opportunity with examples, case studies, and a peak into various game changing revnets being planned. -Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX), whose upcoming Juicebox V4 protocol will host a fee collecting project modeled as a revnet. +Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX), whose upcoming Juicebox V4 protocol will host a fee collecting project modeled as a revnet. ## Contents 1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) @@ -104,8 +104,6 @@ We're deploying a $REV revnet that'll earn 2.5% of all funds cashed out from fun - **Standardized:** They create a familiar business interaction standard, leading to a positive feedback loop for all revnet-based projects. - **Interoperable:** They have the ability to relate financial outcomes between each other, encouraging more collaboration within a competitive business landscape. -We're also deploying a $NANA revnet as the fee collecting project of the Juicebox V4 protocol, which will act more as a revenue-generating unit of account stewarded by $JBX governance – a token network now active for over 3 years. - Projects will choose a revnet business structure when they prefer their outcome to be oriented towards maximizing the network's self-propagation while minimizing the potential of any party with privileged access and exploitable liabilites. They'll understand their work to have value while also understanding a network's preference to work for itself once instigated, like Bitcoin and Ethereum. ### 1.3 Anatomy of a revnet | Introduction @@ -205,7 +203,9 @@ Investors interested in the promise of revnets should know there are three core - **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. -It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets – revnets are built using Juicebox V4 after all. $JBX is the mothership and will continue to be the juicebox ecosystem's governance token that invests in its development while managing and allocating a book of assets, largely juicebox-based and revnet-based tokens it holds such as $NANA, $REV, $BANNY, etc. $NANA and $BANNY are explained in section 3 of this memo, $REV is explained below. +It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets – revnets are built using Juicebox V4 after all. $JBX is the mothership and will continue to be the juicebox ecosystem's governance token that invests in its development while managing and allocating a book of assets, largely juicebox-based and revnet-based tokens it holds. + +Juicebox V4's fee collecting token will also be a revnet with the ticker $NANA. It will act as a revenue-generating unit of account stewarded by Juicebox DAO. In summary, they have the following relationships: - $REV's split is operated by RRG, described below. @@ -585,10 +585,12 @@ Revnet Research Group (RRG) exemplifies this approach by taking a 40% split of t There are five core entities in play: $REV, RRG LLC, RF1 LLC, $NANA, and JuiceboxDAO ($JBX). -Here's a good overview of this topic approached more from the $JBX and $REV perspectives: [https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/](https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/) +Here's a good overview of this topic: [https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/](https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/) + +In summary: -- For those comfortable accessing tokens onchain, $JBX is a fixed-supply governance token which has been on the market for several years, now utilizing its treasury to build out the Juicebox ecosystem – the revnet project and several others were informally incubated from within JuiceboxDAO. It is expected to receive a split of $REV issuance and buybacks, making it a great proxy to build ongoing exposure to $REV's revenue growth – albeit subject to the risks associated with its governance process. You can learn more [here](https://docs.juicebox.money/dao/). -- Also for those onchain, build direct exposure to $REV to benefit from revenue growth without governance proxies, while also providing direct operating capital to RRG. +- For those comfortable accessing tokens onchain, $JBX is a fixed-supply governance token which has been on the market for several years, now utilizing its treasury to build out the Juicebox ecosystem – the revnet project and several others were informally incubated from within JuiceboxDAO. It is expected to receive a split of $REV issuance and buybacks from RRG, likely making it a good proxy to build ongoing exposure to $REV's revenue growth – albeit subject to the risks associated with its governance process. You can learn more [here](https://docs.juicebox.money/dao/). +- Also for those onchain, build direct exposure to $REV to benefit from revenue growth without governance proxies, while also aligning fully with RRG and providing direct operating capital to RRG. - RRG LLC is an operational group whose mission is to grow $REV. It is not directly investable. - RF1 LLC is the only current way to access the ecosystem for participants who don't want to access tokens directly onchain. RF1 will facilitate revnet interactions on traditional investors' behalf, albeit for a management fee. - $NANA benefits from broad Juicebox V4 growth, including but not limited to revnets. It welcomes direct participation without proxies, though it will be largely held by Juicebox DAO. $JBX is certainly a better vehicle for broad ecosystem exposure if you're comfortable with its current governance risks. From b15a1a5b8a3c1bd1eb197d99e462222b516e2bb0 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 12 Sep 2024 23:41:30 -0300 Subject: [PATCH 67/91] Update memo.md --- memo.md | 41 +++++++++++++++++++++-------------------- 1 file changed, 21 insertions(+), 20 deletions(-) diff --git a/memo.md b/memo.md index a2b5d47..3632fa8 100644 --- a/memo.md +++ b/memo.md @@ -35,6 +35,7 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [Spend](#spend) - [2.5 RF1](#2.5-rf1) - [2.6 Visual flows](#2.6-visual-flows) + - [2.7 Decisions](#2.7-decisions) 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - [3.1 Overview](#3.1-overview) @@ -42,7 +43,6 @@ Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX - [3.3 Real upcoming revnets](#3.3-real-upcoming-revnets) - [3.4 FAQ](#3.4-faq) - [How would revnets work in the context of traditional capitalization structures?](#how-would-revnets-work-in-the-context-of-traditional-capitalization-structures) - - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) - [Which blockchains?](#which-blockchains) --- @@ -199,19 +199,21 @@ We're calling on all who believe in this revenue-forward version of the open int ### 2.1 Overview Investors interested in the promise of revnets should know there are three core entities at play: -- **$REV:** A revnet. +- **$REV:** A revnet benefiting from the growth of revnets. - **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets – revnets are built using Juicebox V4 after all. $JBX is the mothership and will continue to be the juicebox ecosystem's governance token that invests in its development while managing and allocating a book of assets, largely juicebox-based and revnet-based tokens it holds. -Juicebox V4's fee collecting token will also be a revnet with the ticker $NANA. It will act as a revenue-generating unit of account stewarded by Juicebox DAO. +Juicebox V4's fee collecting token will also be a revnet with the ticker $NANA. It will act as a revenue-generating unit of account owned in large part by Juicebox DAO. -In summary, they have the following relationships: +Out of these, $JBX and $REV are the only interesting investments for onchain allocators. RF1 is the only interesting investment for offchain allocators. + +In summary, they all have the following relationships: - $REV's split is operated by RRG, described below. - RRG makes, secures, and markets tools that help make $REV and other revnets more successful. - RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other revnet $TOKENs it believes in. -- Juicebox DAO makes, secures, and markets the Juicebox v4 protocol with which all revnets are expressed. +- Juicebox DAO makes, secures, and markets the Juicebox V4 protocol with which all revnets are expressed. - Each revnet pays a 2.5% cash out fee to $NANA. - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. @@ -431,6 +433,20 @@ The following pay flow, cash out flow, and borrow flow illustrate each user jour image image +### 2.7 Decisions + +You'll have to do your own further research to decide if you should invest in $REV, $JBX, RF1, or others. + +In summary: + +- For those comfortable accessing tokens onchain, $JBX is a fixed-supply governance token which has been on the market for several years – the revnet project and several others were informally incubated from within Juicebox DAO. It is expected to receive a split of $REV issuance and buybacks from RRG, likely making it a good proxy to build ongoing exposure to $REV's revenue growth – albeit subject to RRG's discretion and to the risks associated with Juicebox DAO's governance process. You can learn more [here](https://docs.juicebox.money/dao/). +- Also for those onchain, $REV benefits from revnet revenue growth without governance proxies, while also aligning fully with RRG and providing direct operating capital to RRG. +- RRG LLC is an operational group whose mission is to grow $REV. It is not directly investable. +- RF1 LLC is the only current way to access the ecosystem for participants who don't want to access tokens directly onchain. RF1 will facilitate revnet interactions on traditional investors' behalf, albeit for a management fee. +- $NANA benefits from broad Juicebox V4 growth, including but not limited to revnets. It welcomes direct participation without proxies, though it will be largely held by Juicebox DAO. $JBX is certainly a better vehicle for broad ecosystem exposure if you're comfortable with its current governance risks. + +For another overview of this topic, see this post by Jango: [https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/](https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/) + --- ![image](https://github.com/user-attachments/assets/ac3db796-bdfc-4cb3-be41-78428ecbf586) @@ -581,21 +597,6 @@ This flexibility allows traditional organizations to tailor the revnet to their 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. -#### Should I invest in RRG, $REV, or...? - -There are five core entities in play: $REV, RRG LLC, RF1 LLC, $NANA, and JuiceboxDAO ($JBX). - -Here's a good overview of this topic: [https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/](https://jango.eth.sucks/703DEF83-5E38-4294-8D68-196F8AE4F686/) - -In summary: - -- For those comfortable accessing tokens onchain, $JBX is a fixed-supply governance token which has been on the market for several years, now utilizing its treasury to build out the Juicebox ecosystem – the revnet project and several others were informally incubated from within JuiceboxDAO. It is expected to receive a split of $REV issuance and buybacks from RRG, likely making it a good proxy to build ongoing exposure to $REV's revenue growth – albeit subject to the risks associated with its governance process. You can learn more [here](https://docs.juicebox.money/dao/). -- Also for those onchain, build direct exposure to $REV to benefit from revenue growth without governance proxies, while also aligning fully with RRG and providing direct operating capital to RRG. -- RRG LLC is an operational group whose mission is to grow $REV. It is not directly investable. -- RF1 LLC is the only current way to access the ecosystem for participants who don't want to access tokens directly onchain. RF1 will facilitate revnet interactions on traditional investors' behalf, albeit for a management fee. -- $NANA benefits from broad Juicebox V4 growth, including but not limited to revnets. It welcomes direct participation without proxies, though it will be largely held by Juicebox DAO. $JBX is certainly a better vehicle for broad ecosystem exposure if you're comfortable with its current governance risks. - - #### 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 is always encouraging more eyes on the open source code base. Ultimately, smart contract security comes from production lindiness while managing funds at risk. From 8a96a3061976c0f4dc825872d762eff5433f28a8 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 12 Sep 2024 23:45:04 -0300 Subject: [PATCH 68/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 3632fa8..36527d7 100644 --- a/memo.md +++ b/memo.md @@ -271,7 +271,7 @@ $TOKEN holders are incentivized to prefer that their revnet loans out as much as 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 From f8de288d4b5aa2193e70e6795eff5702c74e1073 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 12 Sep 2024 23:53:16 -0300 Subject: [PATCH 69/91] Update memo.md --- memo.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index 36527d7..03c24f5 100644 --- a/memo.md +++ b/memo.md @@ -70,7 +70,7 @@ Open source and openly accounted-for fundraises and revenues should outcompete e - **Full Transparency:** Public code and accounting is more trustworthy and easier to cooperate with. - **Cost Efficiency:** Many managerial and other expenses are not needed when there are no secrets or artificial barriers to progress. -They struggle to enforce revenue-generation to pay for innovation, maintenance, and growth due to three core dilemmas: +They struggle to enforce revenue generation to pay for innovation, maintenance, and growth due to three core dilemmas: - **Monetization Dilemma:** Establishing and justifying debt obligations, growth expenditures, and profit margins on revenue is difficult as an open business scales. - **Moat Dilemma:** The work and strategies of open businesses can be copied without inheriting the baggage of the original, meaning cheaper alternatives can emerge easily, devaluing the various costs borne by the original. @@ -96,7 +96,7 @@ We think revnets might be it: A win-win-win growth engine for investors, builder Revnets are easy to use, a bicycle for online economies. They resolve the three dilemmas above by creating openly accounted-for financial networks with bounded risks that benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. -Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, "the next generation for markets, the next generation for securities, will be tokenization of securities."[^2] We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, compensation, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. +Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, "the next generation for markets, the next generation for securities, will be tokenization of securities."[^2] We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses who will need to have their revenues, fundraises, compensation, and global financial partnerships tokenized in order to better serve their customers. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. We're deploying a $REV revnet that'll earn 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for six other spectacular projects we've been working with, demonstrating how revnets are: @@ -110,7 +110,7 @@ Projects will choose a revnet business structure when they prefer their outcome Think of revnets like a spicy Bitcoin halvening rule. Similar to Bitcoin, revnets are a fully pre-configured financial structure – although they can evolve over time, they do so according to rules that are set in place at the time of their creation. Unlike Bitcoin, the rules dont involve proof-of-work with periodic supply shocks that lead to a fixed supply of 21m coins over time. Revnets enforce a certain other set of guarantees affecting inflows and outflows of money. -These guarentees can be visualized as a digital vending machine: +These guarantees can be visualized as a digital vending machine: 1. Receives dollar bills from a business's raised funds and revenues. 2. Dispenses its unique tokens (henceforth $TOKENs) and optionally digital artifacts (NFTs) in return. 3. The only way to access the dollar bills the machine has earned is to give it its $TOKENs back. @@ -234,7 +234,7 @@ Revnets unfold in stages. Each stage specifies five rules that dictate everythin | **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 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. | -Revnets 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. From a824a9bf0b4b124336b2b5ed3fc94a6804734874 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 13 Sep 2024 00:02:13 -0300 Subject: [PATCH 70/91] Update memo.md --- memo.md | 12 ++++++------ 1 file changed, 6 insertions(+), 6 deletions(-) diff --git a/memo.md b/memo.md index 03c24f5..7ef3ff6 100644 --- a/memo.md +++ b/memo.md @@ -6,7 +6,7 @@ This memo makes the case for revnets and $REV. It is delivered in 3 parts: 2. **What are the terms?:** Includes specifics of how you are invited to participate as investors. 3. **What do they look like?:** Illustrates the opportunity with examples, case studies, and a peak into various game changing revnets being planned. -Inso doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX), whose upcoming Juicebox V4 protocol will host a fee collecting project modeled as a revnet. +In so doing, it'll also lay out the strategy for the future of Juicebox DAO ($JBX), whose upcoming Juicebox V4 protocol will host a fee collecting project modeled as a revnet. ## Contents 1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) @@ -115,7 +115,7 @@ These guarantees can be visualized as a digital vending machine: 2. Dispenses its unique tokens (henceforth $TOKENs) and optionally digital artifacts (NFTs) in return. 3. The only way to access the dollar bills the machine has earned is to give it its $TOKENs back. -Revnets enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: +Revnets enforce three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: - **$TOKEN price:** There is always a price at which the revnet is willing to issue new $TOKENs. If there exists an AMM offering a better rate than the $TOKEN issuance price, the revnet will instead forward inbound funds to the AMM. This price can be set to change over time at a customizable rate. - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. @@ -164,7 +164,7 @@ Part 2 of this memo digs in deeper, and discusses how we are tuning the $REV rev ### 1.4 Why now? Why us? -Those of us developing revnets have been contributors to the Ethereum ecosystem over the past 4 years, most notably having helped build the Juicebox protocol, the juicebox.money app, and the Juicebox DAO community driven by the $JBX network. Juicebox is public infrastructure that provides a tokenized language for expressing various organizational financial guarantees. It has been fundamental to the making of Constitution DAO, Assange DAO, Shark DAO, Moon DAO, Cryo DAO, Juicebox DAO, the Tornado Cash developer legal defense fundraiser, and 1,331 other projects, facilitating over $185 million in ETH payments. +Those of us developing revnets have been contributors to the Ethereum ecosystem over the past 4 years, most notably having helped build the Juicebox protocol, the juicebox.money app, and the Juicebox DAO community driven by the $JBX network. Juicebox is public infrastructure that provides a tokenized language for expressing various organizational financial guarantees. It has been fundamental to the making of Constitution DAO, Assange DAO, Shark DAO, Moon DAO, Cryo DAO, Juicebox DAO, the Tornado Cash developer legal defense fundraiser and 1,331 other projects, facilitating over $185 million in ETH payments. In this era of crypto and media networks that innovate on internet-native concepts, and with societal demand for mobility[^1], private corporate-stock models of centralized organization are anachronistic. We've experienced the demand for tokenized fundraising and revenue first hand, we know the tradeoffs of the tokenization tools at our disposal intimately well, and we know how cultural narratives around tokens work. We've been consistently one step ahead of the curve and steadfast in our values. @@ -245,10 +245,10 @@ Notice, revnets can be tuned to achieve various outcomes. They are not cheatcode 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 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: @@ -599,7 +599,7 @@ Revnet Research Group (RRG) exemplifies this approach by taking a 40% split of t #### 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 is always encouraging more eyes on the open source code base. Ultimately, smart contract security comes from production lindiness while managing funds at risk. +**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. From 485ab72c81aaa8b4e7ac1a9dc4dd7c9db740b14a Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 14:24:22 -0300 Subject: [PATCH 71/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 7ef3ff6..cc04d4c 100644 --- a/memo.md +++ b/memo.md @@ -58,7 +58,7 @@ As the web rapidly tends towards being more open – with financial agreements e Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. -Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indie media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. +Revnets are an openly-accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indie media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. Join us – a group of Web3 builders who have helped facilitate over $180 million through the Juicebox protocol – in founding and growing the $REV network, which operates as revenue-generating revnet itself. From 1c4e0dc24b6c715818610105a71da05b0dd5180e Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 14:26:44 -0300 Subject: [PATCH 72/91] Update memo.md --- memo.md | 4 +++- 1 file changed, 3 insertions(+), 1 deletion(-) diff --git a/memo.md b/memo.md index cc04d4c..739f684 100644 --- a/memo.md +++ b/memo.md @@ -174,7 +174,9 @@ Revnets are the next step. They are an expression of the Juicebox language we kn For those already familiar with Juicebox, note that revnets are Juicebox projects with two main restrictions: - **No Ownership:** They are owned by a special smart contract that enforces rules throughout the project's life, as opposed to being owned by an entity that can influence changes over time. This contract grants a few scoped permissions to the address initially specified as the revnet's split operator. -- **No Payouts:** They have no payouts, meaning all funds stay in the treasury backing the value of the project's tokens, and can only be accessed by token holders themselves. +- **No Payouts:** They don't allow for payouts, meaning all funds stay in the treasury backing the value of the project's tokens, and can only be accessed by token holders themselves. + +You can see the specifics in the revnet smart contract https://github.com/rev-net/revnet-core. The time for revnets is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. From 1cab023021b34fe7cbdd375337c67596246891d5 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 14:29:29 -0300 Subject: [PATCH 73/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 739f684..84e8d81 100644 --- a/memo.md +++ b/memo.md @@ -178,7 +178,7 @@ For those already familiar with Juicebox, note that revnets are Juicebox project You can see the specifics in the revnet smart contract https://github.com/rev-net/revnet-core. -The time for revnets is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. +The time for revnets is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money (banks) or rules (courts) was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. Speculatively, if AI-agent networks continue to gain adoption, revnets will exist to enrich users of AI-produced goods and serviecs who's marginal cost of work tends toward zero, in contrast to incumbent models that extract from users to enrich AIs and their centralized creators. From bb10e98d1e7d87c986acdc31502dc7a76275c63a Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 14:31:00 -0300 Subject: [PATCH 74/91] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 84e8d81..362b96e 100644 --- a/memo.md +++ b/memo.md @@ -174,13 +174,13 @@ Revnets are the next step. They are an expression of the Juicebox language we kn For those already familiar with Juicebox, note that revnets are Juicebox projects with two main restrictions: - **No Ownership:** They are owned by a special smart contract that enforces rules throughout the project's life, as opposed to being owned by an entity that can influence changes over time. This contract grants a few scoped permissions to the address initially specified as the revnet's split operator. -- **No Payouts:** They don't allow for payouts, meaning all funds stay in the treasury backing the value of the project's tokens, and can only be accessed by token holders themselves. +- **No Payouts:** They don't allow for payouts, meaning all funds stay in the treasury backing the value of the project's tokens, and can only be accessed by token holders themselves. You can see the specifics in the revnet smart contract https://github.com/rev-net/revnet-core. The time for revnets is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money (banks) or rules (courts) was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. -Speculatively, if AI-agent networks continue to gain adoption, revnets will exist to enrich users of AI-produced goods and serviecs who's marginal cost of work tends toward zero, in contrast to incumbent models that extract from users to enrich AIs and their centralized creators. +Speculatively, if AI-agent networks continue to gain adoption, revnets will exist to enrich users of AI-produced goods and services who's marginal cost of labor tends toward zero, in contrast to incumbent models that extract from users to enrich AIs and their centralized creators. We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet. Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. This also means all revnets will show up on juicebox.money and other Juicebox explorers by default. Part 2 further explains how these entities relate. From 758856758badc57ce218f69b6ad428cd5a54f58f Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 14:33:48 -0300 Subject: [PATCH 75/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 362b96e..961520e 100644 --- a/memo.md +++ b/memo.md @@ -220,7 +220,7 @@ In summary, they all have the following relationships: - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. -This section will go through these specifics in detail, with visual diagrams to show how these interactions work. +The upcoming section will go through the specifics in detail, with visual diagrams to show how these interactions work. ### 2.2 Anatomy of a revnet | Advanced From aac9cd3f1dee4fc409b942d7901a2cb1e18d275d Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 14:36:24 -0300 Subject: [PATCH 76/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 961520e..1ab8687 100644 --- a/memo.md +++ b/memo.md @@ -246,7 +246,7 @@ Revnets inherit 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 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. From f0e0d29546be56986430cdb6c6e7b66d8d4ec3cf Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 14:47:23 -0300 Subject: [PATCH 77/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 1ab8687..9eae015 100644 --- a/memo.md +++ b/memo.md @@ -1,5 +1,5 @@ # Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet -**Add value => grow revenue => become wealthy openly and welcomely together.** +**A growth engine for the open internet.** This memo makes the case for revnets and $REV. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. From eaaddebf0e86656cbf7dc80639adb9a225e884dd Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 15:32:45 -0300 Subject: [PATCH 78/91] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 9eae015..85381e8 100644 --- a/memo.md +++ b/memo.md @@ -1,5 +1,5 @@ -# Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet -**A growth engine for the open internet.** +# Revnets | A Growth Engine for the Open Internet +**For investors, entrepreneurs, and customers of products and services monetized on the open internet.** This memo makes the case for revnets and $REV. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. From 87d951e0b55ba2d3b43fc8b0661d737f9671930b Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 15:33:30 -0300 Subject: [PATCH 79/91] Update memo.md --- memo.md | 3 +-- 1 file changed, 1 insertion(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 85381e8..592cac6 100644 --- a/memo.md +++ b/memo.md @@ -1,7 +1,6 @@ # Revnets | A Growth Engine for the Open Internet -**For investors, entrepreneurs, and customers of products and services monetized on the open internet.** -This memo makes the case for revnets and $REV. It is delivered in 3 parts: +This memo makes the case for revnets and $REV for investors, entrepreneurs, and customers of products and services monetized on the open internet. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. 2. **What are the terms?:** Includes specifics of how you are invited to participate as investors. 3. **What do they look like?:** Illustrates the opportunity with examples, case studies, and a peak into various game changing revnets being planned. From 547cc86753e683bad225a0ab72cac6e0aa89239b Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 14 Sep 2024 15:34:15 -0300 Subject: [PATCH 80/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 592cac6..d4338d1 100644 --- a/memo.md +++ b/memo.md @@ -1,4 +1,4 @@ -# Revnets | A Growth Engine for the Open Internet +# Revnets | A Growth Engine for the Unstoppable Open Internet This memo makes the case for revnets and $REV for investors, entrepreneurs, and customers of products and services monetized on the open internet. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. From 404d2f9053a34980f2696aebdc2be472ad63a325 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 11:38:39 -0300 Subject: [PATCH 81/91] Update memo.md --- memo.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index d4338d1..561a144 100644 --- a/memo.md +++ b/memo.md @@ -292,11 +292,11 @@ _Price increases by 50% every 90 days. 40% of issuance and buybacks to Revnet Re | **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 42% 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. +> 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 @@ -307,11 +307,11 @@ _Starts 2 years after the revnet is deployed. Price continues increase by 50% ev | **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. ##### $REV stage 3 _No more issuance. 10% of issuance and buybacks to Revnet Research Group. Cashing out leaves less money on the table._ From cc5a55bcfbb694c7fde11e0b705c72d34dce4f4b Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 17:17:57 -0300 Subject: [PATCH 82/91] Update memo.md --- memo.md | 10 +++++----- 1 file changed, 5 insertions(+), 5 deletions(-) diff --git a/memo.md b/memo.md index 561a144..9fc53f0 100644 --- a/memo.md +++ b/memo.md @@ -53,7 +53,7 @@ In so doing, it'll also lay out the strategy for the future of Juicebox DAO ($JB Today's crypto and media networks have a business model problem, rooted in the tensions between open source productivity and private value capture. -As the web rapidly tends towards being more open – with financial agreements expressed as crypto protocols on public blockchains, and AIs able to generate code and information of just about anything – we need a value capture system that resolves this tension and reorients us towards collaborative growth. +As the web rapidly tends towards being more open – with agreements expressed through crypto protocols on public blockchains, and AIs able to generate code and information of just about anything – we need a value capture system that resolves this tension and reorients us towards collaborative growth. Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. @@ -93,7 +93,7 @@ We need a better place to put our entrepreneurial capital and use it effectively We think revnets might be it: A win-win-win growth engine for investors, builders, and retail customers of open source and beyond. Built by developers who've helped facilitate over $185 million in ETH payments over their past 4 years of experience designing, building, securing, and distributing Ethereum-based tokenization infrastructure. -Revnets are easy to use, a bicycle for online economies. They resolve the three dilemmas above by creating openly accounted-for financial networks with bounded risks that benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. +Revnets are easy to use, a bicycle for online economies. They resolve the three dilemmas above by creating openly-accounted-for financial networks with bounded risks that benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, "the next generation for markets, the next generation for securities, will be tokenization of securities."[^2] We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses who will need to have their revenues, fundraises, compensation, and global financial partnerships tokenized in order to better serve their customers. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. @@ -116,9 +116,9 @@ These guarantees can be visualized as a digital vending machine: Revnets enforce three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: -- **$TOKEN price:** There is always a price at which the revnet is willing to issue new $TOKENs. If there exists an AMM offering a better rate than the $TOKEN issuance price, the revnet will instead forward inbound funds to the AMM. This price can be set to change over time at a customizable rate. -- **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. -- **Cash out tax:** $TOKENs can be cashed out by returning them to the revnet, which distributes some of the revnet's revenues back to the holder. A customizable cash out tax rate means each cash out increases the value of the next cash out, rewarding those who stick around longer. +- **$TOKEN price:** There is always a price at which the revnet is willing to issue new $TOKENs. If there exists an AMM offering a better rate than the $TOKEN issuance price, the revnet will instead forward inbound funds to the AMM. +- **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. +- **Cash out tax:** $TOKENs can be cashed out by returning them to the revnet, which distributes some of the revnet's revenues back to the holder. A non-zero tax rate means each cash out increases the value of the next cash out, rewarding those who stick around longer. > For example: > 1. A revnet can be paid in ETH, and/or other tokens (shown below as green dollar bills). From 550fc3b4785df1bd48c6b9d3b40fb8bc369ec629 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 17:34:25 -0300 Subject: [PATCH 83/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 9fc53f0..2b435fa 100644 --- a/memo.md +++ b/memo.md @@ -169,7 +169,7 @@ In this era of crypto and media networks that innovate on internet-native concep We've also seen the negligence and gross extractive tendencies that over-leveraged entrepreneurs, investors, and traders can succumb to when left unchecked. Blockchains give us transactional freedoms – using them to progress positive-sum game-theoretic financial applications like revnets is non-trivial, while using them to manipulate the public with hyped-up zero-sum Ponzi schemes is easy and unfortunately all too common. -Revnets are the next step. They are an expression of the Juicebox language we know so well, and the tokenized standard we're sorely missing to encourage more projects – many of our own – to hit the gas with confidence and without incumbent tradeoffs. +Revnets are the next step. They are an expression of the Juicebox language we know so well, and the tokenized standard we're sorely missing to encourage more projects – many of our own – hit the gas with confidence and without incumbent tradeoffs. For those already familiar with Juicebox, note that revnets are Juicebox projects with two main restrictions: - **No Ownership:** They are owned by a special smart contract that enforces rules throughout the project's life, as opposed to being owned by an entity that can influence changes over time. This contract grants a few scoped permissions to the address initially specified as the revnet's split operator. From 189397ec441a212f16fde1abd2d2dfbc923e3d14 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 17:57:14 -0300 Subject: [PATCH 84/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 2b435fa..9d82f08 100644 --- a/memo.md +++ b/memo.md @@ -179,7 +179,7 @@ You can see the specifics in the revnet smart contract https://github.com/rev-ne The time for revnets is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money (banks) or rules (courts) was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. -Speculatively, if AI-agent networks continue to gain adoption, revnets will exist to enrich users of AI-produced goods and services who's marginal cost of labor tends toward zero, in contrast to incumbent models that extract from users to enrich AIs and their centralized creators. +Speculatively, if AI-agent networks continue to gain adoption, revnets will exist to empower users of AI-produced goods and services who's marginal cost of labor tends toward zero, in contrast to incumbent models that extract from users to empower AIs and their centralized creators. We've been working on revnets conceptually since late 2023, they're now implemented and ready for showtime. Importantly, revnets are built using Juicebox V4, whose fee collecting project will itself be modeled as a revnet. Juicebox V4's main innovation is enabling omnichain projects, meanning each revnet can exist across any number of blockchains and extend to new ones as they emerge and prove legitimate. This also means all revnets will show up on juicebox.money and other Juicebox explorers by default. Part 2 further explains how these entities relate. From 5d19bcd833c23a0c92d9aaa09bcbb4e4022a0a05 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 17:57:35 -0300 Subject: [PATCH 85/91] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 9d82f08..e181153 100644 --- a/memo.md +++ b/memo.md @@ -211,7 +211,7 @@ Juicebox V4's fee collecting token will also be a revnet with the ticker $NANA. Out of these, $JBX and $REV are the only interesting investments for onchain allocators. RF1 is the only interesting investment for offchain allocators. In summary, they all have the following relationships: -- $REV's split is operated by RRG, described below. +- $REV's split is operated by RRG, described in upcoming sections. - RRG makes, secures, and markets tools that help make $REV and other revnets more successful. - RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other revnet $TOKENs it believes in. - Juicebox DAO makes, secures, and markets the Juicebox V4 protocol with which all revnets are expressed. From 1b54df8d7bf4c5ba74c7011076014a8e78ad6c46 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 18:06:36 -0300 Subject: [PATCH 86/91] Update memo.md --- memo.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index e181153..211feb7 100644 --- a/memo.md +++ b/memo.md @@ -212,12 +212,12 @@ Out of these, $JBX and $REV are the only interesting investments for onchain all In summary, they all have the following relationships: - $REV's split is operated by RRG, described in upcoming sections. +- $NANA's split is operated by Juicebox DAO. - RRG makes, secures, and markets tools that help make $REV and other revnets more successful. -- RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other revnet $TOKENs it believes in. - Juicebox DAO makes, secures, and markets the Juicebox V4 protocol with which all revnets are expressed. -- Each revnet pays a 2.5% cash out fee to $NANA. -- $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. -- The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. +- $NANA operates as a revnet. +- Each revnet pays a 2.5% cash out fee to $NANA (enforced by the Juicebox V4 protocol) and a 2.5% cash out fee to $REV (enforced by the revnet contract). 5% total. +- RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other revnet $TOKENs it believes in. The upcoming section will go through the specifics in detail, with visual diagrams to show how these interactions work. From 33c03843a77c50a595f7ea8e69f9a752261a3972 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 18:14:55 -0300 Subject: [PATCH 87/91] Update memo.md --- memo.md | 3 +-- 1 file changed, 1 insertion(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 211feb7..ec49670 100644 --- a/memo.md +++ b/memo.md @@ -280,8 +280,7 @@ 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 From 29799e5e72034956a9b460583c2fa8e1d1e2f553 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 18:18:11 -0300 Subject: [PATCH 88/91] Update memo.md --- memo.md | 6 +++--- 1 file changed, 3 insertions(+), 3 deletions(-) diff --git a/memo.md b/memo.md index ec49670..4bceb5f 100644 --- a/memo.md +++ b/memo.md @@ -284,7 +284,7 @@ RRG is setting up $REV's revnet rules attempting to emphasize the following prin #### $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** | |--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| @@ -299,7 +299,7 @@ _Price increases by 50% every 90 days. 40% of issuance and buybacks to Revnet Re ##### $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** | |--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| @@ -334,7 +334,7 @@ Both token-comfortable people interacting directly from their favorite EVM block ### 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. From ea218a04f69e0ea9b1e565224dc3c9e0fa9333b9 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 18:21:55 -0300 Subject: [PATCH 89/91] Update memo.md --- memo.md | 7 +++---- 1 file changed, 3 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index 4bceb5f..d0a864d 100644 --- a/memo.md +++ b/memo.md @@ -388,10 +388,9 @@ RRG will use the $REV it earns to support the launch, security, and distribution 1. staff jango (project/contract/tech lead). 2. staff 0xBa5ed and Nowonder as dev tooling and contract security leads. -2. staff JohnnyD and Wraeth as client-side leads for revnet.app (since aeolian will be handing off development once deployed). -3. look to hire an operations lead (since filip will be handing off ops responsibilities once deployed). -5. staff kmac (bizdev). -4. retain rob (legal). +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). From 679da8557a8cf446d5c13a2b366ec31f4c6cda6a Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 16 Sep 2024 18:48:46 -0300 Subject: [PATCH 90/91] Update memo.md --- memo.md | 24 +++++++++++++++--------- 1 file changed, 15 insertions(+), 9 deletions(-) diff --git a/memo.md b/memo.md index d0a864d..8fd5973 100644 --- a/memo.md +++ b/memo.md @@ -483,11 +483,13 @@ An ongoing campaign could use a revnet to receive donations, with a large 99% sp #### $FILIPS_NAIL_SALON -A nail shop could accept crypto payment to its revnet, with a fairly large 80% split to Filip used to run the shop. The 20% of $FILIPS_NAIL_SALON is the growth budget that rewards Filip's clients with incentives to keep coming back and spread the word and. Filip could also take cash and interact with the revnet on clients' behalf, keeping a spreadsheet of how many $FILIPS_NAIL_SALON each cash-paying customer has. Maybe some day they'll come to you with a wallet address to claim them from you. +A nail shop could accept crypto payment to its revnet, with a fairly large 80% split to Filip used to run the shop. The 20% of $FILIPS_NAIL_SALON is the growth budget that rewards Filip's clients with incentives to keep coming back and spread the word. + +Filip could also take cash and interact with the revnet on clients' behalf, keeping a spreadsheet of how many $FILIPS_NAIL_SALON each cash-paying customer has. Maybe some day they'll come to you with a wallet address to claim them from you. #### $KMACS_BIG_IDEA -KMACs startup could use a revnet to fundraise, perhaps keeping a 50% split for operating costs. This lets investors measure their contributions maintain some liquidity with a clear path to growth. Anyone – KMAC, investors, community – can stand up new revenue sources routed to the revnet for everyone's benefit. If KMACs startup proves successful, he can opt to relinquish its role as split operator to an automated module that redistributes the split to stakers of $KMACS_BIG_IDEA. If the startup proves to be a failure, KMAC can burn any unused $TOKENs to make more funds available to investors, and investors can cash out as desired. KMAC could also hand the split operator role back to the investors. +KMACs startup could use a revnet to fundraise, perhaps keeping a 50% split for operating costs. This lets investors maintain some liquidity with a clear path to growth. Anyone – KMAC, investors, community – can stand up new revenue sources routed to the revnet for everyone's benefit. If KMACs startup proves successful, he can opt to relinquish its role as split operator to an automated module that redistributes the split to stakers of $KMACS_BIG_IDEA. If the startup proves to be a failure, KMAC can burn any unused $TOKENs to make more funds available to investors, and investors can cash out as desired. KMAC could also hand the split operator role back to the investors. #### $JETFLIX @@ -542,28 +544,32 @@ 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. | -### $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. | -### $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. | ### $NANCE From d2b4b1fda1383bb2bd60993b5961076ae7ee8b86 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Tue, 1 Oct 2024 21:31:58 -0300 Subject: [PATCH 91/91] Update memo.md --- memo.md | 13 +++++++------ 1 file changed, 7 insertions(+), 6 deletions(-) diff --git a/memo.md b/memo.md index 8fd5973..53d15af 100644 --- a/memo.md +++ b/memo.md @@ -51,15 +51,16 @@ In so doing, it'll also lay out the strategy for the future of Juicebox DAO ($JB ### 1.1 TLDR -Today's crypto and media networks have a business model problem, rooted in the tensions between open source productivity and private value capture. +A revnet is a tokenized financial structure designed to align incentives among leaders, workers, investors, and customers. It operates like a digital vending machine that issues tokens in exchange for revenue, with predetermined rules governing token price, distribution, and cash-out mechanisms. -As the web rapidly tends towards being more open – with agreements expressed through crypto protocols on public blockchains, and AIs able to generate code and information of just about anything – we need a value capture system that resolves this tension and reorients us towards collaborative growth. +Today's crypto and media networks face a business model problem, stemming from tensions between open source productivity and private value capture. As the web rapidly becomes more open, we need a value capture system that resolves this tension and reorients us towards collaborative growth. -Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. +Revnets offer a promising solution as an all-in-one incentive machine, cap table, and growth engine. They provide: +* An openly-accounted-for standard for funding and distributing business offerings, open source projects, campaigns, indie media, and cultural movements. +* A system that operates without governance risks, liquidity requirements, or management overhead. +* A flexible structure simple enough for a group of friends, yet powerful enough for high net-worth, global communities, products, and brands. -Revnets are an openly-accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indie media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. - -Join us – a group of Web3 builders who have helped facilitate over $180 million through the Juicebox protocol – in founding and growing the $REV network, which operates as revenue-generating revnet itself. +Join us – a group of Web3 builders who have facilitated over $180 million through the Juicebox protocol – in founding and growing the $REV network, which operates as a revenue-generating revnet itself. ### 1.2 Overview