Madhavan MalolanPermissionless Hierarchy : A new way to look at DAOs.
DAOs are the biggest misnomer of web3. They don’t work, and no one seems to know how to make it work. Here, I present a view to challenge the way we look at DAOs to begin with. The take-away for me from 2 days of DAO discussions in Amsterdam is nobody has figured out how to manage the chaos to get anything useful done in a DAO. DAOs are today just a glorified Discord channel with no clear route to be either Decentralized (what does that even mean?) or Autonomous. “DAO” is a marketing gimmick....
Madhavan MalolanRequest to build - A decentralized Audit Marketplace mechanism design
Auditing wait times on top audit firms are 9-12 months and expensive. We need something that is more participative and allows for new and yet-unproven security auditors. Here I propose a decentralized audit marketplace that turns the auditing process into a prediction marketplace.1. Select a juryA jury is usually reputed security engineers. This jury doesn’t do the audit itself, but only signs off a reported vulnerability as a real bug. There are 5 jury members selected for every audit. They ...
Madhavan MalolanA construction for a zk-oracle network
Oracles are going to be the most important piece of web3 infrastructure after we increase on chain TPS via rollups and L2s. If there is a million transactions possible in a block, most of the block space will be used by oracles bringing off chain data on chain. Super important for us to figure out a decentralized oracle network. Chainlink is doing a great job - the question is how can we bring in data feeds that have higher participation from the community members/data providers?Data guildsTh...
Founder [Questbook (YCw21)](https://questbook.xyz) Writing about things that need to be built in web3
Madhavan MalolanPermissionless Hierarchy : A new way to look at DAOs.
DAOs are the biggest misnomer of web3. They don’t work, and no one seems to know how to make it work. Here, I present a view to challenge the way we look at DAOs to begin with. The take-away for me from 2 days of DAO discussions in Amsterdam is nobody has figured out how to manage the chaos to get anything useful done in a DAO. DAOs are today just a glorified Discord channel with no clear route to be either Decentralized (what does that even mean?) or Autonomous. “DAO” is a marketing gimmick....
Madhavan MalolanRequest to build - A decentralized Audit Marketplace mechanism design
Auditing wait times on top audit firms are 9-12 months and expensive. We need something that is more participative and allows for new and yet-unproven security auditors. Here I propose a decentralized audit marketplace that turns the auditing process into a prediction marketplace.1. Select a juryA jury is usually reputed security engineers. This jury doesn’t do the audit itself, but only signs off a reported vulnerability as a real bug. There are 5 jury members selected for every audit. They ...
Madhavan MalolanA construction for a zk-oracle network
Oracles are going to be the most important piece of web3 infrastructure after we increase on chain TPS via rollups and L2s. If there is a million transactions possible in a block, most of the block space will be used by oracles bringing off chain data on chain. Super important for us to figure out a decentralized oracle network. Chainlink is doing a great job - the question is how can we bring in data feeds that have higher participation from the community members/data providers?Data guildsTh...
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Founder [Questbook (YCw21)](https://questbook.xyz) Writing about things that need to be built in web3
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A completely decentralized protocol that lets people borrow money from the treasury by producing an NFT. This is to be built on top of LooksRare, because LooksRare is decentralized and hence infinitely composable.
Produce an NFT from an NFT collection on LooksRare. The maximum amount you can borrow against the NFT is the minimum floor price of that collection over the last 30 days.
You can only deposit verified collections’ NFTs - for securing the protocol. Open to any other heuristic to define which collections are accepted
The NFT will be in the custody of the protocol contract. The contract pays out LOOKS loan to the NFT sender based on the above heuristic, subject to available liquidity in the contract.
The loan + 10% interest is to be paid back in 30 days.
0.5% interest to the founders, with a switch to irreversibly turn of founder share.
If the amount + 10% interest is not paid back in full in 30 days, the NFT will get listed on LooksRare at the current Floor Price.
Anyone can provide liquidity to the contract.
This liquidity is essential to be able to give out loans.
For providing 100LOOK you get 100 L-LOOK (freshly minted).
If you return 1 L-LOOK to the contract, you get 1/(total no. of L-LOOK in circulation) times the amount of LOOKs in the treasury. Upon returning the L-LOOK, it gets burnt.
1ETH bounty to build this!
NFTs are programable proofs of ownership. Very soon, it might not be uncommon to have NFTs that prove ownership of access to communities, real world assets etc.
This is the crypto native mortgaging.
loan( address collection, uint tokenId, uint looks ) public returns( uint loanId )
repay ( uint loanId, uint looks ) public
sellDefaultingNFT ( uint loanId ) public
provideLiquidity ( uint looks ) public
withdrawLiquidity (uint l_looks ) public
Shout out to Ruchil for brain storming this :)
A completely decentralized protocol that lets people borrow money from the treasury by producing an NFT. This is to be built on top of LooksRare, because LooksRare is decentralized and hence infinitely composable.
Produce an NFT from an NFT collection on LooksRare. The maximum amount you can borrow against the NFT is the minimum floor price of that collection over the last 30 days.
You can only deposit verified collections’ NFTs - for securing the protocol. Open to any other heuristic to define which collections are accepted
The NFT will be in the custody of the protocol contract. The contract pays out LOOKS loan to the NFT sender based on the above heuristic, subject to available liquidity in the contract.
The loan + 10% interest is to be paid back in 30 days.
0.5% interest to the founders, with a switch to irreversibly turn of founder share.
If the amount + 10% interest is not paid back in full in 30 days, the NFT will get listed on LooksRare at the current Floor Price.
Anyone can provide liquidity to the contract.
This liquidity is essential to be able to give out loans.
For providing 100LOOK you get 100 L-LOOK (freshly minted).
If you return 1 L-LOOK to the contract, you get 1/(total no. of L-LOOK in circulation) times the amount of LOOKs in the treasury. Upon returning the L-LOOK, it gets burnt.
1ETH bounty to build this!
NFTs are programable proofs of ownership. Very soon, it might not be uncommon to have NFTs that prove ownership of access to communities, real world assets etc.
This is the crypto native mortgaging.
loan( address collection, uint tokenId, uint looks ) public returns( uint loanId )
repay ( uint loanId, uint looks ) public
sellDefaultingNFT ( uint loanId ) public
provideLiquidity ( uint looks ) public
withdrawLiquidity (uint l_looks ) public
Shout out to Ruchil for brain storming this :)
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