In general, miners do important work for the network that is valued by the participants of the network. In this proposal, we take the view that the participants of the Blockstack network are the general public that cares about their data and want to perform general tasks efficiently. Apps are the tools to help the participants to perform the tasks. A part of STX tokens has been reserved to help the network to provide these tools. The following describes a method how these tokens are distributed to achieve the goal.
Blockstackrs propose work to be done for a particular app. The proposal contains a description. The app has to satisfy the minimum requirements of CBE.
Blockstackrs can invest in the proposal. At the same time, workers provide a price tag for the proposal.
When enough funds for a proposed work is done, a worker is selected by the investors.
When the work is done and completion is confirmed by the investors the funds are sent to the worker that completed the work.
Completed work proposal are automatically submitted to the token pool management. After approval, tokens from the app mining pool are distributed to the investors as well as to the worker in proportion to the value of the investment.
Possible implementations
Minimum requirements
Apps needs to be registered with app.co and registered to receive STX
Utilize tools developed by NIL check the eligibility.
Work proposal submission
Submissions of a proposal can be as simple as a new github issue or as complicated as a smart contract managed.
The sum of all work proposals for one app can't describe work for more than $20k.
Work approval by investors
Usually, investors and workers can agree whether a work was completed or not. If in dispute experts propose a resolution.
Pool management
Can be an appointed board, Blockstack PBC or a smart contract
Work approval by Pool management
Pool management accepts completed work if
the app still complies with the minimum requirements and
no claims about untruly completed work were filed
Token payout by Pool
Each month a fixed amount of tokens is distributed.
Each investor receives the following amount: (invested amount / sum of the approved work / 2 ) fixed amount
Each worker receives the following amount: (work proposal price/ sum of the approved work / 2 ) fixed amount.
More complicated payout themes like in relation to the number of investors could be used as well.
Considerations
Voting for worker proposal is not suitable because Blockstackrs do not share a common interest in the apps.
The return of investment (ROI) for investors (on top of the work done) can be more than 100% in tokens
Initially, app developers and investors are the same entities.
App users will learn that they can invest / have to pay for app features but in exchange could be even paid for it
Traction of an app can be measured by the number investors/invested amount without tracking app usage.
ROI varies depending on the activity of all work proposals.
Game theorists should prove that this method is fair in the sense that there is no strategy that results in higher payouts than for an honest participant.
App Mining by Work and Investment
In general, miners do important work for the network that is valued by the participants of the network. In this proposal, we take the view that the participants of the Blockstack network are the general public that cares about their data and want to perform general tasks efficiently. Apps are the tools to help the participants to perform the tasks. A part of STX tokens has been reserved to help the network to provide these tools. The following describes a method how these tokens are distributed to achieve the goal.
Actors
Method
Possible implementations
Minimum requirements
Apps needs to be registered with app.co and registered to receive STX Utilize tools developed by NIL check the eligibility.
Work proposal submission
Submissions of a proposal can be as simple as a new github issue or as complicated as a smart contract managed.
The sum of all work proposals for one app can't describe work for more than $20k.
Work approval by investors
Usually, investors and workers can agree whether a work was completed or not. If in dispute experts propose a resolution.
Pool management
Can be an appointed board, Blockstack PBC or a smart contract
Work approval by Pool management
Pool management accepts completed work if
Token payout by Pool
Each month a fixed amount of tokens is distributed.
Each investor receives the following amount: (invested amount / sum of the approved work / 2 ) fixed amount Each worker receives the following amount: (work proposal price/ sum of the approved work / 2 ) fixed amount.
More complicated payout themes like in relation to the number of investors could be used as well.
Considerations
References
Telos Worker Proposal System
Issues: