Action Item: Parse Illia's Attention Economy DAO Proposal and decide on how the WG moves forward

[skilesare]

https://github.com/icdevs/ICEventsWG/issues/41#issuecomment-2206509473

[skilesare]

A few comments:

Attention DAO Summary

In Attention DAO, the central focus is on attention. Everything must either directly support attention or support something that enhances attention.

Hook:

• Attention!
  • Publishers: I want to publish content so that I get attention.
  • Subscribers: I want to subscribe to things that interest me so that I stay relevant.

Questions to Address:

1. Monetization:

   • Are publishers willing to pay to publish? (e.g., Twitter is free)
   • Are subscribers willing to pay to receive content? (e.g., Twitter is free)

2. Competitive Advantage Over Twitter:

   • If the hook is platform ownership, users should get paid for using the platform rather than paying to use it. How can we achieve this?

3. Spam Prevention:

   • Implement an outlay before refund (cashback) mechanism to deter spam. Will this work or will it be too much friction?

4. Integration with Dapps:

   • Identify existing Dapps for integration or develop the first one, potentially starting with an email Dapp.

5. System Bootstrap:

   • Develop strategies to bootstrap the system effectively.

6. Tokenomics:

   • Consider issuing a larger number of tokens since people like big numbers.
   • Evaluate the necessity of restricting the transfer of $EVENT tokens.

7. Token Naming:

   • Explore a more relevant name than $EVENT, such as $EYES, to better align with the concept of attention.

8. Payment and Rewards:

   • Clarify if the concept involves paying in ICP and receiving rewards in $EVENT.

9. Voting Mechanism:

   • Define what will be voted on and whether the voting process can be algorithmic.

10. Monthly Redemptions:

    • Address potential issues with chunky monthly redemptions causing rapid price/value fluctuations.

11. Token Conversion:

    • Explain how DAO tokens will be converted to ICP if there's no market for them and they can't be transferred.

Key Points

• Central Focus: Attention must be the core around which everything revolves.
• User Motivation: Clearly define the incentives for both publishers and subscribers.
• Monetization Strategy: Address the challenge of free alternatives like Twitter.
• Platform Ownership: Shift the model from paying to getting paid for using the platform.(This can be net, but paying out first will be a friction)
• Anti-Spam Measures: Implement mechanisms to prevent spam.
• Dapp Integration: Plan for integrating existing Dapps or developing initial applications.
• Tokenomics Adjustments: Reconsider token numbers and transfer restrictions.
• Name and Branding: Choose a token name that aligns with the attention concept.
• Reward System: Clarify the payment and reward structure.
• Voting and Governance: Define the voting topics and explore algorithmic solutions.
• Liquidity Concerns: Address the issue of token liquidity and conversion.

[ava-vs]

Great questions, thank you very much!

Attention DAO

• Good name, we think!

Hook:

* **Attention!**

  * **Publishers:** I want to publish content so that I get attention.

• and new customers.
  • Subscribers: I want to subscribe to things that interest me so that I stay relevant.
• and evolve (and become part of the success).

Questions to Address:

1. **Monetization:**

   * Are publishers willing to pay to publish? (e.g., Twitter is free)

• We propose a next step in attention economics: sharing ad budgets with loyal customers.

• DAO could be an investor for projects that do not have an advertising budget.

  • Are subscribers willing to pay to receive content? (e.g., Twitter is free)

• Subscribers get a free package to start, then earn activity rewards and pay for service with a portion of the rewards.

  2. Competitive Advantage Over Twitter:

     • If the hook is platform ownership, users should get paid for using the platform rather than paying to use it. How can we achieve this?
• Publishers will share their promotion budget with customers and also receive DAO tokens. We think this is a very rational way to spend advertising dollars.
• Subscribers will earn rewards for activities such as registration, feedback, etc.

• 50% of DAO revenue is shared between customers. So the subscriber will pay about 10% of his rewards for DAO service.

  3. Spam Prevention:

     • Implement an outlay before refund (cashback) mechanism to deter spam. Will this work or will it be too much friction?

• If someone offers you real money ($1-2) just to listen to their suggestion, and you can take it or block them, can you call that "spam" or "dream work"? We think that real spam will be very extensive here.

  4. Integration with Dapps:

     • Identify existing Dapps for integration or develop the first one, potentially starting with an email Dapp.

• We are thinking about starting integrations with online schools. Also all startups are our target audience.

  5. System Bootstrap:

     • Develop strategies to bootstrap the system effectively.

• Raise broadcaster canister, Telegram web application for client, add intergation API

  6. Tokenomics:

     • Consider issuing a larger number of tokens since people like big numbers.

• Probably we can use $ and ¢ (1:100) for our purposes and reward with 1-50 ¢ for activity.

  • Evaluate the necessity of restricting the transfer of $EVENT tokens.

• It will be an internal token with transparent history like Axon without the Plug and transfer method.

  7. Token Naming:

     • Explore a more relevant name than $EVENT, such as $EYES, to better align with the concept of attention.

• Maybe we can start a discussion and vote on a token name. Some more variants: $AIM and $FOCUS

  8. Payment and Rewards:

     • Clarify if the concept involves paying in ICP and receiving rewards in $EVENT.

• We think we could accept ICP, USDT and TON with Telegram web application and website, token will be internal currency and it will be bought back.

  9. Voting Mechanism:

     • Define what will be voted on and whether the voting process can be algorithmic.

• Partly sure, rewards will be auto-voting, other voting process should be discussed

  10. Monthly Redemptions:

      • Address potential issues with chunky monthly redemptions causing rapid price/value fluctuations.

• No problem here. A portion of DAO's revenue is divided between DAO's funds, such as the Reward Fund, Investment Fund, and so on. The Reward Fund is used to buy back tokens on a monthly basis.

  11. Token Conversion:

      • Explain how DAO tokens will be converted to ICP if there's no market for them and they can't be transferred.
• A portion of DAO's revenue will be used for this purpose.