I am currently brainstorming an idea and concept that I thought I would bring to the Cardano community.
Introduction
Thinking back in the early 90s, 2000s and even today we have seen many examples of two-three companies going head to head in huge consumer driven industries. Examples we’ve seen: Apple vs Microsoft, AMD vs Intel, Nike vs Reebok, Coke vs Pepsi, etc. Many of these companies won out together based on advantages in technology, uniqueness, and appearance. One of the most important reason for these companies success was based on consumer loyalty, consumer buy in, and consumer support. Advertising and promoting is necessary for projects and ideas to survive.
In decentralized blockchain it is extremely difficult to manage all areas of building a successful blockchain. You have to build great functionality but you also have to have a community that is pushing the space forward as well. The decentralized blockchain community is ultimately responsible for the success and community building once functionality is built. Based on this idea, the community must increase as a group by promoting outside consumers once the functionality is built.
I believe there is a decentralized solution to be built to help support promoting Cardano in a decentralized, community given way. Based on this, I have provided a solution which uses pooled resources, community ideas and content, and token voting to promote Cardano to the general public. The native Cardano tokens would be supported by PROMOTE.
Concept Steps Using Cardano’s Staking System:
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A user stakes their Ada through an official identified pool. The official pool uses its margin cost to build a reserve (pooled resources).
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The pools margin cost is placed to 50% (this is just something thought of)
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After 15 days the stake pool rewards the addresses staking based on the number of validated blocks. The distributed Ada to delegators would be ~45-50% to users. The other ~50-55% is stored in a community reserve and used for operators (and others). The expenses to operators and others would be open to be seen by the community. Based on how much a delegator stakes they are awarded on a ratio of Ada earned to PROMOTE token(s) given.
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The community reserve is pooled for the token owners to decide on how to best promote Cardano. This could be by the community creating videos to be used in commercials, artwork to be used on billboards, or radio commercials.
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Ideas would be categorized and initial ideas would be voted on during round 1. The other rounds would be used to validate a partnership via a smart contract (publicly shown to the community) and would finish by posting evidence of the advertisement shown.
Conclusion
The tokenomics would be something to be discussed later but the thought process would be ways to eliminate bad actors, to eliminate trading of the coin, and ways to encourage community built promotions. I have posted an image with the concept drawn up (not sure what the quality is).
There are gaps not exactly covered, but wanted to post an initial idea and get thoughts around the community. Thanks all.
