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 - Decentralized NFT based lending protocol
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.Borrow at floor priceProduce 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 oth...
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 ...
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 - Decentralized NFT based lending protocol
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.Borrow at floor priceProduce 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 oth...
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 ...
Founder [Questbook (YCw21)](https://questbook.xyz) Writing about things that need to be built in web3
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We need more data on chain that we can trust.
There is no way to know if an API actually returned a certain data when it was hit - as claimed by a person/contract.
Simple fix is to include 2 headers in every REST response of an API.
MD5 hash of the response data
A signature that signs the above hash
If not private response, upload to IPFS and include IPFS hash
MD5 : <md5sum>
Web3Signature : <v,r,s>
IPFS : <ipfs hash>
Should be able to use the middleware in express.
web3api.configure(env.privateKey)
app.use(web3api)
// in routes
res.send(data, { private : IS_PRIVATE_RESPONSE })
It must be published to npm, open source the code on github
A resolver contract, that takes the IPFS hash and returns the data, md5 and signature
//web3api.sol
resolve(string ipfs_hash) public returns(uint request_id)
resolve_callback(string request_id, bytes data, string md5, bytes signature) external
If you’re looking to build this this weekend - happy to support you with a small bounty of 1 Eth. This shouldn’t take too long :)
This is likely will lead to enabling more off-chain data coming on-chain. When we have more data on chain from the offline world, more interesting contracts can be written.
We need more data on chain that we can trust.
There is no way to know if an API actually returned a certain data when it was hit - as claimed by a person/contract.
Simple fix is to include 2 headers in every REST response of an API.
MD5 hash of the response data
A signature that signs the above hash
If not private response, upload to IPFS and include IPFS hash
MD5 : <md5sum>
Web3Signature : <v,r,s>
IPFS : <ipfs hash>
Should be able to use the middleware in express.
web3api.configure(env.privateKey)
app.use(web3api)
// in routes
res.send(data, { private : IS_PRIVATE_RESPONSE })
It must be published to npm, open source the code on github
A resolver contract, that takes the IPFS hash and returns the data, md5 and signature
//web3api.sol
resolve(string ipfs_hash) public returns(uint request_id)
resolve_callback(string request_id, bytes data, string md5, bytes signature) external
If you’re looking to build this this weekend - happy to support you with a small bounty of 1 Eth. This shouldn’t take too long :)
This is likely will lead to enabling more off-chain data coming on-chain. When we have more data on chain from the offline world, more interesting contracts can be written.
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