Collaborative economics, economics are important and we need to consider how important our economics are to our society. Monetary systems are what make the world go round. Leaving it in the hands of the few is really scary.

"you're too dumb to govern yourselves". No we need the tools and to be educated.

In crypto its technically a technocracy. A lot of them were around during the design and configuration of the economy and made specific decisions for specific reasons but others don't have access to.

Configuration and the design need to be from the people.

Baseline understanding of what we wanted to achieve at TEC and then we allow anyone to propose and vote on them. Community got to pick the mission vision values. After 6 months of working together. Did a hatch design. TEC is to advance token engineering. Having a place where they can share ideas, like a token engineering society. Provide token engineering public goods. Collectively designed the hatch. Raised $1.5M and have 2M tokens in existence. Important to separate this from the design. Now we have the money to start with its easier to design the bonding curve. So broke it up into two pieces.

Playing with these tools is like a bootcamp.

Also has a forum on your choices. The parameters are well documented, but there's quirks.

Price floor graph

Bonding curve is a smart contract that mints tokens when you send money to it. It send you tokens back. This innovation will win a Nobel prize. First single sided market that has ever existed. The smart contract has collateral that it will release to you. Because of this system we have a certain amount of collateral in the system means that there's a true price floor. You set that by locking up tokens in "token freeze". Giving tokens at an increasing rate. A simple bonding curve the price increases. As the curve goes up there's less and less money backing the total. The reserve ratio is the market cap vs the collateral. Its like MakerDAO minting DAI. secondary market. bonding curve is the issuer of the currency. there might be other markets that adjust the tokens. When you issue or use the tokens you're also funding the common pool. Bancor style bonding curve, a type of AMM with just one collateral in the reserve.

Reserve ratio: how much liquidity is your bonding curve providing. So how volatile it will be when people buy and sell. Most target 20-30%. There's reasons to go above and below.

Common pool at launch: its like a regular non profit or MolochDAO that distributes funds. This is a common pool governed by conviction voting. Common pool is the value creation arm. Bonding curve is the economic arm. Balancing how much money goes to each at launch will affect the future of the economy. If you put a lot in common pool you'll have a weaker economy put in bonding curve and its strong but its not doing much. Its money used for proposals. 

Current price is just the opening price. Every time someone makes a buy and sell with the bonding curve it goes to the common pool. 

DAO with delegation can let you change the economy as you desire. This is the governance mechanism.

Conviction voting is a governance mechanism. Its more like a donation but it doesn't cost you money. Anyone can put a proposal requesting funds and based on how much funds they're requesting it the voting power the proposal needs. You can put your tokens where you want it. Its plutocratic at its core, rather than using sybil resistance we use time to mitigate plutocratic actions. Different amount of tokens needed to pass the proposal.

Don't just start from blank state. Its the culture that uses the tool that brings the system to life. We want to collaboratively and iteratively design these commons economies.

You can fork existing proposals and you can just adjust it as you go. Then you can adjust the configuration and iterate on designs. Find the designs on tokenlog.

Gary - are you launching a token yourself. 

Giveth project is launching a token next time. TEC already raised 1.5M in a DAO. People paid 1 for each of these tokens. Hatch is an interesting situation on how we reward expertise labour and capital. People who had expertise in token engineering could put more money in than people just hanging out. Can mix labour capital and expertise. This will go into the results of the parameter voting system. TEC is the first public goods economy that the commons stack is launching. Will whitelabel the dashboard that other communities can use. Dogfooding the product.

Currently in the Learn & Propose phase until 18 Nov then we'll start to debate where people present their parameters and we challenge these proposals. Using quadratic ranked choice voting for the parameter set on December 13th.

Ryan - what surprised you during param parties

All of them. Going through "an earnest attempt at reasonable parameters", "Universally supreme parameters - fork me or get forked"

Price won't move a lot so good for arbitrage before it moves into the bonding curve.

High consensus things, only 8% can defect. With delegation it works. Vote days are relatively fast, want to move quickly.

Effectively 6% of the funds can be purchased or used. Not that hard to pass proposals. Can pass many small ones quickly. Good variation of voting to pass.

Paul - useful not just to token engineers but also trying to help game devs look at what they can do with tokens. running an accelerator for web2 and will be good if we can understand what it takes. 

at its core economies are just games. everyone is going for the top score. If you score points, earn money, you're providing value for society.

QZ - are there live ones?

honey and brightid use conviction voting. ens doing something similar. dydx uses bonding curve. lots of projects use these items. built like these public goods. hatch is a dandelion DAO. current tokens can rage quit but get less. 

The dream is to create micro economies to improve government services and non profits. government is not providing the value we would expect. we can't solve that problem. what if we can create an economy for land owners and road builders through a bonding curve. when you initialise the economy you're printing more money to use. You'd create more but its backed with less, they're happy, its a win win there's vesting but they can spend this extra value to build roads. governance of public goods has value. back that value in a win-win system that continuously fuels. can grow the micro economy. can decide how to build roads better.

Lani - do you feel there might be a different token for each public good

easiest analogy is that these micro economies are more like companies. rather than having them as organisations they have their own economy. if they don't do a good job others can just compete. get people rewarded for providing value to society. other people can spin up a competing economy. rather than a government monopoly over the public goods vertical. what if we had competing economies that are trying to create public goods

Huxwell - idea of tax going towards public goods, how can the community see what is done and fund it with a treasury

Giveth. traceable donations. how do you see that non profit work is being done. Giveth trace. No one uses it is because charities don't have an incentive to provide traceable donations. in the end its like any other DAO, how do you know that people are using that money to do that work. proposals that aren't aligned will be stopped. people would lose their deposit. tracing the money is in line with how conviction voting works. could be milestone based payments.

Sid - how are your experiences led to this point of creating token engineering tools and where do you see it going forward in physical communities

been working on this since the DAO. crazy crypto anarchist. people on the ground don't have any power and that's frustrating. economics are where real power is. governments do stuff but they get the money from the people. we can now build our own economies. bitcoin is printing money to fund a decentralised, open, non-rivalrous. anyone in the world can create a bitcoin address and receive and send. it is funding public goods with every block minted. you used to need an army to create an economy, now we're in an epic moment in history to take control of our economics. we can make defi casinos all day but is that our goal? monetary games that give you points when you do good work for society. we don't have a good UX. holding our own keys are hard. common stacks is to create micro economies. Giveth is for spinning out projects and are focused on being a little more sly about it. take non profits that are doing good work but are being exploited. need to educate people on this, we can't use the white savior complex we need to scale up the non profit people. they're the ones providing public services. with giveth they can login easily with torus. they can take donations easily. get them to learn a little bit more about crypto as they go. will have GIVE tokens to stake behind non profits. you don't have to sacrifice to donate to me. you can invest in GIVE tokens and it'll help nonprofits. its minted, its like a donation. with enough stake it shows that the nonprofits are succeeding. take nonprofits where they are and give them a ladder. when they succeed we can initialise a bonding curve for them. they'll have their own economy and token. take them from what is crypt to w'eve got out own economy. we don't have volunteers they get these tokens we don't need donations you can invest in them. web3 is not usable, they don't care about tokens now. a lot of work to do there. commons stack approach will eventually meet in the middle ground. crypto UBI, we won't be launching a commons stack economy for a river soon. we'll work towards that. these missions will meet. once we get this going, what do we need governments for?

Get involved. Educate yourself, become a tokens engineer. Try to design one of these economies. follow griff, tec, commons stack, giveth.

Token Engineering Commons

Agenda

Attendees

Agenda

Attendees

Action Items DB

Action Items Database

Meeting Minutes 

Tweet prep

Commons Config Dashboard

Stream

Tokenlog

Collaborative economics, economics are important and we need to consider how important our economics are to our society. Monetary systems are what make the world go round. Leaving it in the hands of the few is really scary.

"you're too dumb to govern yourselves". No we need the tools and to be educated.

In crypto its technically a technocracy. A lot of them were around during the design and configuration of the economy and made specific decisions for specific reasons but others don't have access to.

Configuration and the design need to be from the people.

Baseline understanding of what we wanted to achieve at TEC and then we allow anyone to propose and vote on them. Community got to pick the mission vision values. After 6 months of working together. Did a hatch design. TEC is to advance token engineering. Having a place where they can share ideas, like a token engineering society. Provide token engineering public goods. Collectively designed the hatch. Raised $1.5M and have 2M tokens in existence. Important to separate this from the design. Now we have the money to start with its easier to design the bonding curve. So broke it up into two pieces.

Playing with these tools is like a bootcamp.

Also has a forum on your choices. The parameters are well documented, but there's quirks.

Price floor graph

Bonding curve is a smart contract that mints tokens when you send money to it. It send you tokens back. This innovation will win a Nobel prize. First single sided market that has ever existed. The smart contract has collateral that it will release to you. Because of this system we have a certain amount of collateral in the system means that there's a true price floor. You set that by locking up tokens in "token freeze". Giving tokens at an increasing rate. A simple bonding curve the price increases. As the curve goes up there's less and less money backing the total. The reserve ratio is the market cap vs the collateral. Its like MakerDAO minting DAI. secondary market. bonding curve is the issuer of the currency. there might be other markets that adjust the tokens. When you issue or use the tokens you're also funding the common pool. Bancor style bonding curve, a type of AMM with just one collateral in the reserve.

Reserve ratio: how much liquidity is your bonding curve providing. So how volatile it will be when people buy and sell. Most target 20-30%. There's reasons to go above and below.

Common pool at launch: its like a regular non profit or MolochDAO that distributes funds. This is a common pool governed by conviction voting. Common pool is the value creation arm. Bonding curve is the economic arm. Balancing how much money goes to each at launch will affect the future of the economy. If you put a lot in common pool you'll have a weaker economy put in bonding curve and its strong but its not doing much. Its money used for proposals. 

Current price is just the opening price. Every time someone makes a buy and sell with the bonding curve it goes to the common pool. 

DAO with delegation can let you change the economy as you desire. This is the governance mechanism.

Conviction voting is a governance mechanism. Its more like a donation but it doesn't cost you money. Anyone can put a proposal requesting funds and based on how much funds they're requesting it the voting power the proposal needs. You can put your tokens where you want it. Its plutocratic at its core, rather than using sybil resistance we use time to mitigate plutocratic actions. Different amount of tokens needed to pass the proposal.

Don't just start from blank state. Its the culture that uses the tool that brings the system to life. We want to collaboratively and iteratively design these commons economies.

You can fork existing proposals and you can just adjust it as you go. Then you can adjust the configuration and iterate on designs. Find the designs on tokenlog.

Gary - are you launching a token yourself. 

Giveth project is launching a token next time. TEC already raised 1.5M in a DAO. People paid 1 for each of these tokens. Hatch is an interesting situation on how we reward expertise labour and capital. People who had expertise in token engineering could put more money in than people just hanging out. Can mix labour capital and expertise. This will go into the results of the parameter voting system. TEC is the first public goods economy that the commons stack is launching. Will whitelabel the dashboard that other communities can use. Dogfooding the product.

Currently in the Learn & Propose phase until 18 Nov then we'll start to debate where people present their parameters and we challenge these proposals. Using quadratic ranked choice voting for the parameter set on December 13th.

Ryan - what surprised you during param parties

All of them. Going through "an earnest attempt at reasonable parameters", "Universally supreme parameters - fork me or get forked"

Price won't move a lot so good for arbitrage before it moves into the bonding curve.

High consensus things, only 8% can defect. With delegation it works. Vote days are relatively fast, want to move quickly.

Effectively 6% of the funds can be purchased or used. Not that hard to pass proposals. Can pass many small ones quickly. Good variation of voting to pass.

Paul - useful not just to token engineers but also trying to help game devs look at what they can do with tokens. running an accelerator for web2 and will be good if we can understand what it takes. 

at its core economies are just games. everyone is going for the top score. If you score points, earn money, you're providing value for society.

QZ - are there live ones?

honey and brightid use conviction voting. ens doing something similar. dydx uses bonding curve. lots of projects use these items. built like these public goods. hatch is a dandelion DAO. current tokens can rage quit but get less. 

The dream is to create micro economies to improve government services and non profits. government is not providing the value we would expect. we can't solve that problem. what if we can create an economy for land owners and road builders through a bonding curve. when you initialise the economy you're printing more money to use. You'd create more but its backed with less, they're happy, its a win win there's vesting but they can spend this extra value to build roads. governance of public goods has value. back that value in a win-win system that continuously fuels. can grow the micro economy. can decide how to build roads better.

Lani - do you feel there might be a different token for each public good

easiest analogy is that these micro economies are more like companies. rather than having them as organisations they have their own economy. if they don't do a good job others can just compete. get people rewarded for providing value to society. other people can spin up a competing economy. rather than a government monopoly over the public goods vertical. what if we had competing economies that are trying to create public goods

Huxwell - idea of tax going towards public goods, how can the community see what is done and fund it with a treasury

Giveth. traceable donations. how do you see that non profit work is being done. Giveth trace. No one uses it is because charities don't have an incentive to provide traceable donations. in the end its like any other DAO, how do you know that people are using that money to do that work. proposals that aren't aligned will be stopped. people would lose their deposit. tracing the money is in line with how conviction voting works. could be milestone based payments.

Sid - how are your experiences led to this point of creating token engineering tools and where do you see it going forward in physical communities

been working on this since the DAO. crazy crypto anarchist. people on the ground don't have any power and that's frustrating. economics are where real power is. governments do stuff but they get the money from the people. we can now build our own economies. bitcoin is printing money to fund a decentralised, open, non-rivalrous. anyone in the world can create a bitcoin address and receive and send. it is funding public goods with every block minted. you used to need an army to create an economy, now we're in an epic moment in history to take control of our economics. we can make defi casinos all day but is that our goal? monetary games that give you points when you do good work for society. we don't have a good UX. holding our own keys are hard. common stacks is to create micro economies. Giveth is for spinning out projects and are focused on being a little more sly about it. take non profits that are doing good work but are being exploited. need to educate people on this, we can't use the white savior complex we need to scale up the non profit people. they're the ones providing public services. with giveth they can login easily with torus. they can take donations easily. get them to learn a little bit more about crypto as they go. will have GIVE tokens to stake behind non profits. you don't have to sacrifice to donate to me. you can invest in GIVE tokens and it'll help nonprofits. its minted, its like a donation. with enough stake it shows that the nonprofits are succeeding. take nonprofits where they are and give them a ladder. when they succeed we can initialise a bonding curve for them. they'll have their own economy and token. take them from what is crypt to w'eve got out own economy. we don't have volunteers they get these tokens we don't need donations you can invest in them. web3 is not usable, they don't care about tokens now. a lot of work to do there. commons stack approach will eventually meet in the middle ground. crypto UBI, we won't be launching a commons stack economy for a river soon. we'll work towards that. these missions will meet. once we get this going, what do we need governments for?

Get involved. Educate yourself, become a tokens engineer. Try to design one of these economies. follow griff, tec, commons stack, giveth.