It’s all been done before … technology is just making it more accessible for the rest of us ~ I’ve tokenized myself and created the SPL-token $CANIN.
A surprisingly simple process; the twist was getting the attendant account addresses and accessing them via Phantom. Now the trick will be doing something useful with all 10,000,000 of them …
Enter the Laboratory
This is all happening under the umbrella of DreamFreely Labs, and in so there is one parameter I do want to make folks aware of immediately. There is a --freeze-authority enabled on this coin; which means that at any time all account movements can be frozen. Without knowing any better, I predict this to happen at least once per year; so as to get a snapshot, and discuss as a community future aspirations.
This is a laboratory experiment. We are testing very specific economic / retail theories in controlled environments, and collaborating with our community. While transparency is, and will continue to be, the baseline.
When we’re being honest, NFT’s and much of web3, creates gated communities; this is what much of the tech is being designed to enable. More often than many might like to recognize, this is perpetuating, and at times, fortifying economic divides. (This happens by providing enough token representation to think change is being made.)
There are 10,000,000 $CANINs available, and they will be managed in $100,000 portions. Used to pay for work accomplished, as well they’ll be used to purchase rNFTs available for auction. While their use as compensation will be provided by a stable swap backed by DFLDAO.
Step #1: Create the Swaps
Yup, plural … there are at least three that need to be created:
- CANIN / USDC 1:1
- CANIN / USDC 1:1.1
- CANIN / USDC 1:1.15
The first swap is for those who’ve contributed work and want to exchange their tokens for USDC, for investment elsewhere, or to transfer to their home account.
The second swap is for DFLDAO NFT holders; to enter the DFLDAO markets. As the last swap is for anyone who’d like to enter our ecosystem.
Passport holders will be airdropped 1:1 value of $CANIN at the spot price of SOL at the moment of each minting’s completion.
I am viewing $CANIN as a 1:1 ratio similiar any other stablecoin; that is the baseline. The coin’s utility will not be made available until there are enough USDC to back it. While the idea is to keep the community relatively exclusive to start. This is all intended to be a controlled economic experiment; each of these swaps will only contain a certain amount of liquidity. Additionally, each swaps #1 & #2 will be token-gated, while swaps #2 & #3 will only be made available at scheduled times.
Step #2: Create the Utility
The first utility is to pay individuals who provide content for our projects; which in this first instance is idioke. Contributors will be paid 5$ for their first 25 contributions, and 3$ for their remaining contributions. In total, 1,500 content pieces will be contributed for a cost of $5,000.
It is expected that all of these contributors will be cashing out the majority of their $CANIN for $USDC. Though we will also be working with our team members to help them grow their own financial foundations. Ergo, our teams start small; we find solid footing, and then grow space to hold more friends in our community.
Rebel Coding also has a compensation program, though since idioke is to be the pilot project in this direction, I’ll wait to speak more about it.
We’ve got NFTs!
Next up are the auctions.
We will be making NFTs of real-world items, and further digitizing them to be available in games, as wearable items. The NFTs will be 1/1 copies, the original of which will be held in common with the NFT holder, DFLDAO and the original creator of the IRL piece. Copies will then be made available for sale, infrequently, for use/purchase by collectors/gamers. The original holder will also receive the IRL piece their NFT represents.
https://mirror.xyz/canin.eth/VyJqQd4IojWZrrBmmOO9ahyP3IR-Gznbj2oDc6bmR00
The majority of the proceeds will go to the original creators; DFLDAO will take a 10% cut, while NFT holder’s will receive 20%, of all subsequent sales. This means that the original creators, of the items which the NFTs represent, will receive 70% of all proceeds from secondary sales. Or rather these proceeds will go into a wallet of funds that will be distributed in collaboration with originating artists to the originating artists and their communities.
We do not expect this to be easy work; nor will we allow this to be expensive work. DFLDAO’s cut is merely to cover administrative expenses of managing and distributing the remainder of these dedicated funds.
And it may be difficult to keep in contact with the original artists. For this reason, we also pay more than the asking price when purchasing the jewelry we’re making available. Regardless, we will continue to work with communities to make sure funds are distributed in an equitable, sustainable, and respectful, manner.
Step #3: Grow and Play
- Efficient/growing utilization wrt compensating contributors
- Scaling $CANIN to include #NotasDeCasa payments
- $CANIN is rapidly acquired when opened via swaps
- Auctions are active; end-to-end processes efficient
Once these three accomplishments have been achieved we will begin growing the system. $CANIN is meant to be the financial engine that gets idioke on track to doing generating revenue; then be spun off into it’s own entity. idioke is meant to forge this path for others to follow.
From this point forward, one can only speculate as to what might, or could, happen.
Each of these programs is designed to give others the tools to create tools/toys of their own … tbh, what I’m attempting to build is a mechanism that increases my probability of meeting really cool new people, and helping them achieve their dreams. Sometimes that means I’ll first need to help them acquire a few necessary tools.
In this way, $CANIN becomes a mechanism for investment … though again, we are truly getting ahead of ourselves now … first up, I need to build the swaps … and it looks like the oyster-swap path has been deprecated …
I do think I’ll call this my Solana #Riptide project; and so the adventure begins!
If you’d like to follow along, the best place may be Twitter; though I’m might start posting more frequently on TikTok, which will eventually get relayed to Instagram, I suspect.
As I mentioned elsewhere, this work is a the fulfillment of a decades old interest in creating mechanism to enable consumer driven commerce. The swap project is about creating controlled entry points to the lab space and community; that correlate to opportunities within the community, and assure it’s sustainability.
Mirror will be used to document exclusive and specific conversations; for those interested in more consistent updates, the blog linked below will also publish financial updates throughout 2022.
Thanks for reading, and if your interested, feel free to join the Discord :p