Availability smart contract: Difference between revisions
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The ASC is the first mechanism in the [[DAO Governance Framework|DGF]] process for earning the [[DAO]] money from the public. The availability smart contract (ASC) allows owners of [[Reputation|REP tokens]] in a DAO to signal their availability to participate in [[work smart contract|work smart contracts]] (WSCs), that is, to do the primary work of the DAO. By encumbering REP tokens in the ASC, the ASC emits a signal that the worker is available to be randomly chosen to work on any subsequent WSCs that the public engages. Once a public customer encumbers the fee in the WSC, the WSC collects the signals from all active ASCs, then pseudo-randomly chooses the worker weighted by REP. This means someone with twice as much REP encumbered in their ASC has twice the likelihood of being chosen by the WSC to do the work. | |||
== Pseudorandom selection == | After a member is selected by the WSC, the ASC is concluded, and the rest of the [[DAO Governance Framework#DGF workflow|DGF flow]] continues. | ||
== Details == | |||
=== Carrot === | |||
By encumbering REP in an ASC, the worker has the chance to be chosen by the WSC. If completed successfully and validated by the DAO in a [[Validation Pool]], the worker will receive more REP, in proportion to the fees earned. This increases the member's subsequent remuneration through the REP salary, and increases their opportunity to work in the future, since greater REP encumbered in their ASCs means they will have a greater likelihood of being selected pseudorandomly. | |||
=== Stick === | |||
If a member does not participate by risking their REP in ASCs, then their relative power in the DAO will diminish, meaning their REP salary is not as great as it could be (see [[Reputation tokenomics|REP tokenomics]]), their chances of being picked for work in the future diminishes, and their power over governance decisions is diminished. | |||
Further, if a member does encumber their fees but fails to fulfill their obligation once selected by a WSC, their REP is slashed. These two mechanisms stably solve the nothing at stake problem for DAOs. | |||
=== Pseudorandom selection === | |||
[[File:ASC selection.png|thumb|442x442px|Random selection of experts is decided by relative weight of REP holdings. Before a smart contract is engaged, experts have the opportunity to stake REP tokens to signal their availability for work. These tokens are called availability stakes, and will be added as the chosen experts’ upvote bet on their evidence-of-work post. In this example the yellow star stops randomly along the bar, but is most likely to stop on the 2nd expert.|none]] | [[File:ASC selection.png|thumb|442x442px|Random selection of experts is decided by relative weight of REP holdings. Before a smart contract is engaged, experts have the opportunity to stake REP tokens to signal their availability for work. These tokens are called availability stakes, and will be added as the chosen experts’ upvote bet on their evidence-of-work post. In this example the yellow star stops randomly along the bar, but is most likely to stop on the 2nd expert.|none]] | ||
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Detail the algorithm...?? | Detail the algorithm...?? | ||
Latest revision as of 14:47, 26 February 2024
The ASC is the first mechanism in the DGF process for earning the DAO money from the public. The availability smart contract (ASC) allows owners of REP tokens in a DAO to signal their availability to participate in work smart contracts (WSCs), that is, to do the primary work of the DAO. By encumbering REP tokens in the ASC, the ASC emits a signal that the worker is available to be randomly chosen to work on any subsequent WSCs that the public engages. Once a public customer encumbers the fee in the WSC, the WSC collects the signals from all active ASCs, then pseudo-randomly chooses the worker weighted by REP. This means someone with twice as much REP encumbered in their ASC has twice the likelihood of being chosen by the WSC to do the work.
After a member is selected by the WSC, the ASC is concluded, and the rest of the DGF flow continues.
Details[edit | edit source]
Carrot[edit | edit source]
By encumbering REP in an ASC, the worker has the chance to be chosen by the WSC. If completed successfully and validated by the DAO in a Validation Pool, the worker will receive more REP, in proportion to the fees earned. This increases the member's subsequent remuneration through the REP salary, and increases their opportunity to work in the future, since greater REP encumbered in their ASCs means they will have a greater likelihood of being selected pseudorandomly.
Stick[edit | edit source]
If a member does not participate by risking their REP in ASCs, then their relative power in the DAO will diminish, meaning their REP salary is not as great as it could be (see REP tokenomics), their chances of being picked for work in the future diminishes, and their power over governance decisions is diminished.
Further, if a member does encumber their fees but fails to fulfill their obligation once selected by a WSC, their REP is slashed. These two mechanisms stably solve the nothing at stake problem for DAOs.
Pseudorandom selection[edit | edit source]
??
Detail the algorithm...??