Jake Cassani

@cassani

Joined on Oct 3, 2022

  • This is where I will fully explain how to do this and include a walkthrough video.
     Like  Bookmark
  • The digital economy has radically changed the nature of the relationship between customers and corporations. Today's individuals have switched from being passive consumers to being an essential force in creating value, either by their actual work (think Airbnb, Uber, Apple's App Store, Amazon Marketplace...) or through their data (Facebook, Google...). By leveraging their users' work, organisations in the digital economy have the ability to create products with personalised user experiences that can sustain increasing returns to scale, thus providing investors with large returns on investments. Unfortunately, today's organisations have no simple and efficient way to strongly align the interests of their workforce of users with the financial success of their organisation. This is mostly due to today's securities' laws that impose constraints and frictions when it comes to selling and distributing securities, especially to non-accredited investors. To solve this issue, we propose a new paradigm: the Acxyn Continuous Organization (ACO), a new type of organisation designed to align the stakeholders' interests significantly better than in traditional organisations. An Acxyn Continuous Organisation is any kind of organisation that sets up a Continuous Intellectual Property Offering (CIPO) by funnelling part or all of its realised revenues to a Decentralised Autonomous Trust (DAT). Acxyn DAT is a smart-contract with the ability to automatically issue, buy back and cancel fully digital tokens called IPRTs (Intellectual Property Right Tokens) to meet market demand using predefined rules. Acxyn Continuous Organisations present very beneficial properties for all stakeholders: Founders get a simple and efficient mechanism to receive financing while strongly aligning their community with the financial success of their project, enhancing the organisation's capacity to create strong network effects without affecting the organisation's governance. Employees advantageously trade alienable illiquid stock options for inalienable liquid IPRTs (which can vest as well), truly aligning their interests with those of the organisation.
     Like 1 Bookmark
  • Acxyn is an incredibly new experiment that aims to solve the issue of aligning the interests of stakeholders with the financial success of an organization. The Acxyn Continuous Organization (ACO) is a new type of organization designed to align stakeholders' interests significantly better than in traditional organizations. The ACO sets up a Continuous Intellectual Property Offering (CIPO) by funnelling part or all of its realized revenues to an Acxyn Decentralized Autonomous Trust (DAT). The DAT is a smart-contract that automatically issues, buys back, and cancels fully digital tokens called IPRTs (Intellectual Property Right Tokens) to meet market demand using predefined rules. The tokenization of intellectual property is a novel way for organizations to receive financing without releasing any equity or governance rights. IPRTs are fully digital tokens that anyone can buy or sell to speculate on the organization's future revenues. The value and risk considerations for intellectual property collateral are broad concepts that encompass a variety of intangible assets, including patents, copyrights, trademarks, trade names, domain names, etc. The purpose of IP valuation is to obtain an objective value using reliable information such as industry data and market predictions on future sales. The process of tokenizing intellectual property involves several steps. First, the organization identifies the intellectual property assets they wish to tokenize. Second, the value and quality of the intellectual property assets are assessed using evaluation methods such as EM algorithms and Kernel Density Estimation with Conformal Prediction. Third, the originators transfer the creditors' rights derived from the intellectual property assets to the CIPO through smart contracts and decentralized finance. Fourth, the CIPO issues IPRTs backed by the creditors' rights, representing the cash flows generated by the intellectual property assets. Fifth, the rights and interests of the investors are registered in the assets pool (Bonding Curve Reserves), ensuring their ownership and entitlement to the cash flows. Finally, the tokens can be traded on secondary markets, providing liquidity to investors. Sigmoidal Bonding Curves are a dynamic tool for quantifying the value of IP rights owners, creditors, obligees, and governments. A bonding curve contract is a specific type of smart-contract that issues its own tokens through Buy and Sell functions. The buy and sell prices of tokens increase and decrease with the number of tokens minted, and the bonding curve contract is the counterparty of the transaction and always holds enough assets in reserve to buy tokens back, acting as an automated market maker (AMM). The token bonding curve model has interesting properties, including limitless supply, deterministic price calculation, and guaranteed and immediate liquidity. There is a current problem for analysis of Intellectual Property Rights and Securities which includes the following issues:
     Like  Bookmark
  • Introduction Tokenizing intellectual property (IP) assets using a sigmoidal bonding curve and ERC-6551 token-bound contracts presents new opportunities for creators, investors, and users. This document outlines the process of creating ERC-6551 contracts, fractionalizing ERC-721 IP tokens, and utilizing the bonding curve for speculative derivatives. Token-Bound Contracts and ERC-6551 ERC-6551 is an Ethereum standard for token-bound accounts, which act as wallets for ERC-721 non-fungible tokens (NFTs). These contracts provide an additional layer of security and control over digital assets, ensuring that only the rightful owner can control the token. By utilizing ERC-6551, the IP assets can be securely held within an NFT-based wallet[2][4][6]. Fractionalizing ERC-721 IP Tokens To enable broader ownership and liquidity of IP assets, the ERC-721 IP tokens can be fractionalized into ERC-20 tokens. Fractionalization allows for the representation of direct ownership of the IP within the ERC-721 token. These ERC-20 tokens can then be used to represent shares or portions of the IP, enabling fractional ownership. ACX Tokens and GGV Score
     Like  Bookmark
  • The current approach to protocol development often takes a process-centric approach, where each smart contract is designed to manage a specific process triggered by external interactions. This approach is intuitive because it mirrors how our brains naturally think when designing systems, focusing on one step of logic at a time. However, this approach can lead to a problem as the protocol evolves over time. As the protocol evolves, more "steps in logic" are added across the system, resulting in long and convoluted chains of processes. These chains of processes become overly complex and difficult to understand. The protocols end up having a "web-like" structure, breaking down simple interactions into multiple layers of abstract logic. This complexity makes it challenging to track where calls are coming from or going to, causing confusion and making it easy to get lost in the web of logic. This convoluted structure puts a significant burden on users trying to understand the system, often requiring them to read extensive documentation to grasp what is happening behind the scenes. This pattern can be frustrating for developers, discouraging them from contributing to the existing codebase or integrating with the protocol. Moreover, it increases the potential for bugs and unintended behaviour to occur. In the future, this convolution in protocol development can become a significant problem. As protocols become more complex, it becomes increasingly challenging to maintain and understand them. This complexity can hinder the scalability and reliability of the system, especially during periods of high usage. Additionally, the non-negotiable nature of smart contracts can be a drawback if contract terms need to be changed due to unforeseen events. This is especially important when considering the framework for Intellectual Property and its tokenization. The framework for facilitating these processes into smart contracts can not be burdened with convolution or at worst the potential for litigation involving smart contracts that are immutable or where ownership could be compromised.
     Like  Bookmark