# Kurate economics
###### tags: `Kurate`

Token economics: final version
------------

## Token economics: the progress to the final version
What follows is the working progress which lead to the final version of the token economics. It adds no information needed to understand the economics as discribed in the diagram above, it resembles the thought process that lead to the final version.

### Short intro of Kurate for context
Kurate is a privacy enabled marketplace with reputable actors.

PLAY:
As a player, I join Kurate to become part of different anonymous group identities, defined as persona's.

As a player, I can post an item as a persona, to create content that fits the persona.
As a player I can comment on posts of a persona.
As a player I can boost/slash posts/comments of other players, in order to curate the content of the persona.

In order to stimulate interaction and desired behaviour, token economics are put in place. This working document is focusses on that specific part.

### How Unirep Social does it
Free rep handout every cycle (epoch): 30 rep
post: 10 rep
slash/boost: max 10 rep
comment: 3 rep
The rep a user has at end of cycle, is transferred to next cycle

### thoughts about that
Calling the free handout rep (reputation) is somewhat misleading.
You might want to keep it, not spend it, because reputation has the connotation of "the more you have, the more credible you are".

In Kurate, we want people to stake on their post, others to "upvote/boost" or "downvote/slash". These are 2 seperate goals and should have a different 'token'

### Suggestion for economic model in Kurate

Goal: promoting people to interact in the app in a way that the majority finds "right"


#### Introduction of 2 tokens: Rep and a credits

**Reputation:** has to be earned = valuable
**Credits** *(name tbd)*: every epoch *(4hrs?)* 30 credits are given to every player, at the end of an epoch non-used credits get burned. Credits enable every user to have the same bandwith/opportunity in the app.

#### Posting and commenting:
As a player I can post as a persona, I use 10 Credits to post.
As a player I stake 5 rep on a post, so I am incentivised to make a positive contribution to the persona.
As a player I get my 5 staked rep back when the majority of votes boosted my post.
As a player I can comment on a post, I use 3 credits to comment.
As a player I stake 3 rep on a comment, so I am incentivised to make a positive contribution to the persona.
As a player I get my 3 staked rep back when the majority of votes boosted my post.

#### Credits to vote

As a player I can promote or demote posts and comments with my credits.

#### Earning Reputation:

As a player I gain 5 rep when a post is boosted by majority of votes.
As a player I gain 3 rep when a comment is boosted by the majority of votes.
As a player I gain 1 rep when I voted as the majority of votes.

#### Loosing Reputation:
As a player I loose my 5 staked rep when the majority of votes slashed my post.
As a player I loose my 3 staked rep when the majority of votes slashed my comment.

#### Receiving/spending/loosing Credits
As a player, I receive 30 credits every epoch.
As a player I use my credits to post, comment and vote.
As a player I loose all my non-spent-credits at the end of the Epoch, to incentivise being an active member of the community.

#### Voting
As a player, I vote with 1 credit on a post or comment to stear a persona in a direction that I think is the 'right' direction.

#### The voting period
As a player, my post will be posted in the pending channel of a persona, for the community to vote.

As a player, I can Vote on posts/comments during the voting period, in order to curate the content of the persona.

As a player, my post will be published to the timeline of the persona after the voting period of 1 epoch.

#### Maybe fun : *decided: not doing this*
In order for minorities that feel very strongly about something to become the majority, we might consider to use quadratic voting. [wikipedia ](https://en.wikipedia.org/wiki/Quadratic_voting)
In short:
1 vote needs 1 credit
2 votes need 4 credits
3 votes need 9 credits
...

#### problem to solve:
what about very first post: bootstrapping the app will need some special setup ceremony where the first post is created and rep can be earned.

#### Q&A after meeting
What about a draw/no votes?
* post dissappears from pending posts ans player gets staked rep back

Can I prospone a post (post in next epoch) to have maximum time to vote?
* not possible unless the staking and the paying for posting are also prosponed until next epoch, so it makes things complicated, because you would have to do another action at the beginning of the new epoch: staking, paying. So the initial intention (preparing an action for the future)is no longer covered

Can I easily repost a post in the next epoch?
* not from a technical standpoint, will have to rewrite/repost

Can a post be pending more than 1 epoch?
* technically not possible
* risk over over complicating things with votes from different epochs etc....

What about a visible timer to see how much time is left in the epoch?
* when working with epochs, this is definetely needed somewhere in the UI

What is a good criterium to approve a post (+50% or minimum difference,...)?
* by majority is the easiest (less chance of post hanging in the undecided phase) or
* minimum number of votes +3 or -3 or
* minimum difference between the + and the -
* NOTE: it is not possible to disable voting for yourself, need to take this into account when we talk about a quorum

Can I vote on my own post? YES
* Is it technically possible to block this? NO
* Is there a gaming component if you could vote on own post? Knowing the limitation is 20 left-over credits to vote?

Would it be better if a player can differentiate the staking (putting more stake on a post and thus possibly gain more)?
* Risk is: not everyone being equeal, more rep makes more rep quicker

Would it be better if a player can also stake rep on their vote and gain/loose rep doing so?
* risk of overcomplicating
* this eliminates the chance of earning rep to start with when entering first time

Is a player able to remove a submitted post once there has been voting? unless I can't see the current voting?
* technically not possible to remove a submitted post

Can we vote on already published posts? or are they approved forever?
* technically not possible to vote on approved post

Do we need the voting on comments?
* it is necessary to make the persona's voice consistent. Otherwise, the commenting can go totally of track

#### Suggestions:
Current voting stats shouldn't be visible on the pending timeline (to avoid influence or abuse, for instance people adding their votes at the last minute based on current score to get rep)

no weighted votes, to avoid abuse (someone adding 30 tokens to submitted post at the last minute)

epoch 24h so it's a day and less time stress

Imagine that some channels would require more reputation stake to post, these would be the "highly trusted personas", for instance I have to stake 100 REP to post

Replies are a subject of discussion: they come from the anonymous "chorus" not from the persona itself, therefor, should they be kurated by the persona? So if we allow replies but without the voting, it becomes an unkurated shit-list (looking at current social media). So if we like the idea of a post being some sort of a topic, from which a thread derives, it would be better to work with categories or tags in the persona. That leads us a bit too far for this prototype, but based on the pro's and con's of the replies curated/not curated, we decided to take replies out of the concept.