dApp to generate sustainable income for Web3 communities
Being financially sustainable is one of the biggest questions DAOs/Web3 communities are trying to resolve right now, most have no source of income other than grants, but what happens when funds are completely burned?
Cocoon Protocol as the solution.
We are a Web3 communities/DAO tooling platform that helps communities generate sustainable income by honing in on their most valued asset: their community members.
Partner organizations can pay to advertise their products and services to value aligned communities on our platform. Communities develop a reputation of engagement, which can be a useful tool for partner organizations to increase their chances of gaining traction in a particular community. Examples of the types of advertising that could occur on our platform include sponsored events, bounties, job opportunities, scholarships, and more.
In return for the advertising, DAOs will be able to grow their treasury and provide their community members with a DAO Basic Income (DBI). The advertising fee from the partner organization is either staked or added to AMMs to produce interest. Interest is paid out to the community on a regular basis, and serves as a DAO Basic Income (DBI).
Communities can decide if some percentage of the interest goes back to the treasury (allowing them to have a higher DBI in the future), as well as add additional funds to the investment protocol. DAO leadership can determine how to distribute the DBI amongst their community.
Technical Descriptions:
CELO: We created an ERC-20 solidity contract deployed on CELO for our $COCO tokens with a total supply of 100 trillion. These tokens will serve as rewards to activate contributors in each cocoon. In addition, tokens will act as points to earn certain NFT badges. The more tokens you earn, the more limited edition badges you get, which grows your share of the DAO basic income. The main benefit of using CELO is that it is carbon-neutral and has 5 second finality.
NEAR: We are minting the NFTs we will be using for Active members and Web3 communities using Near Protocol, this will have governance features in the near future.
Skynet: Our dApp generates a static build using Next.js which is hosted to Skynet on the decentralized web. This allows our app to be accessible to anyone all around the world.
Storj: We are using Storj’s decentralized NFT storage with IPFS pinning to house our Cocoon proof of membership NFT badge images and metadata. This makes our NFTs more performant and secure. The main benefit of using Storj is that storing the asset is truly decentralized across thousands of nodes around the world rather than in centralized data centers like AWS or GCP.
Transak: We want to be inclusive to communities who are not yet onboard into crypto. For example, when we partner with local communities like Esquina de Abuela we want to provide an easy way to onramp from fiat current to cryptocurrency to start using our platform.
Coinbase Wallet: We are looking to onboard the new generation of crypto users to utilize as a first line of payments, Coinbase Wallet makes it very easy.
Please view our Contract Address here: https://alfajores-blockscout.celo-testnet.org/token/0xB9D2a1EaD58Ae83A186aDdF61BE96f55F1632c99/token-transfers
You can learn more about Cocoon Protocol at:
Medium: https://medium.com/@cocoonprotocol Twitter: https://twitter.com/CocoonProtocol Web: www.cocoonprotocol.xyz Telegram: https://t.me/+p4j2f6AH9n4zYmEx