NFT subscription model for non members

Title: NFT subscription model for non members

Read the proposal: Discord

Authors: @kouros

Date: 06/02/2021

SUMMARY

To grant full access to the Discord channels to non member of the DAO through a subscription

BACKGROUND

There is a lot of interest in level 0 discord channels in joining the DAO. At the moment only people that hold 35000 BANK can be full members. So could grant access to people that want to engage in Discord and actually be part of projects.

MOTIVATION

Lots of talent in Level 0 is going to waste, let the people who want to get involved get a feel of what it is all about before actually deciding on getting 35000 BANK. This will also help with the revue issue that the DAO is experimenting in these early days.

SPECIFICATION

To offer 1 month subscriptions to non members as NFT’s, NFTs cost 50USDC each or 0.02ETH.

The NFT holder gets access to Discord like a full member, can attend meetings, be part of projects, etc but can’t make new proposals as a temporary member could leave the following month risking the completion of the project. So the temporary member can team up with other members of the DAO to make a proposal.

NEXT STEPS

Get soft consensus in Discord, then forum proposal.As this doesn’t require funding a Snapshot vote won’t be needed.

CONCLUSION

An easy and straightforward way of getting revenue and a way of getting people onboard Discord in a temporary manner.

ABOUT THE AUTHOR

Mathematician by heart and soul. Bullish on blockchain and DeFi as this is a better system for all than the traditional one. Aligned with the Bankless mission.

  • Yes, let’s introduce the NFT subscription.
  • No, let’s keep things as they are.

0 voters

3 Likes

Thanks Kouros, I agree with your proposal.

Once this subscription model is implemented, it could be used as an “incentive” for B2B initiatives: each project could get 50/100/200 of these members to give to the first customers of their products (if they are not already members), to incentivize both sales and DAO subscriptions.

4 Likes

Interesting! Questions:

  1. How do we enforce that it’s a 1 month membership with an NFT?
  2. Who’s responsible for managing this system (feels like it could get confusing with new people joining everyday + adding and revoking rights per NFT)?
  3. How are we issuing these NFTs?
  4. Couldn’t we just lower the BANK amount?
  5. What’s the difference between this and the guest pass that Joe created? Should we have both? It seems that if we have both, we’re making the token membership less necessary (which inherently decreases its value!)
  6. How do we prevent temp members from making new proposals? Keeping track of who’s a temp and who’s a full could be confusing, especially across platforms (in Discord vs. Discourse).

No strong opinion on “for” or “against” as I think this is an interesting alternative to the Guest Pass that we could explore but need to flesh out some of these answers before moving forward.

2 Likes

Solid questions @0x_Lucas

Looks like we can encode a time to live in ERC 721 contracts and have a public view function check to make sure a badge has “expired.” Idk how exactly this will integrate to collab.land.

Alternatively, this is something we can include in a report for the POAP core team.

2 Likes
  1. The smart contract has a timing that starts at $50 and every day the amount is reduced. When it gets to 0, the bot kicks the member out. Above average Joe can explain it better tan me.
    2.These members get a different tag. Admins are responsible. But it is automatic.
  2. We can mint them in Rarible for example.
  3. Buying BANK doesn’t bring revenue directly to the DAO.
  4. Guest pass at the moment is free. This is to get revenue and at the same time people can get a feel of the DAO and Discord. Also, the current Guest Pass is used for people that need access to Discord like people representing PieDAO
  5. These members have a different tag colour and name. Maybe NFT member or temporary or anything we choose.

Self-destruct NFT is pretty cool! Didn’t know about this - would be interested to hear if Collab Land can support it.

I’d argue on point #3 @Kouros. You’re correct that it doesn’t directly generate revenue for the DAO but BANK memberships serves as a crucial mechanism for the value of BANK (which the treasury holds >45% of the supply of).

More people buying memberships → more buy pressure on BANK → value of BANK increases → value of treasury increases → more funding for projects and other initiatives.

Adding the guest pass and this temp NFT takes away from this dynamic so it’s worth considering for both: less reliance on BANK as membership access = lower value for BANK.

Albeit the temp membership will at least generate some $$ for the DAO so it’s a tradeoff and it’s fairly accessible for anyone that’s looking to join or partner with the DAO (i.e. PieDAO).

3 Likes

I like this, but what if we made it so that instead of a 1 month subscription, it was a subscription for the season? This might change some of the mechanics of this proposal, but in some ways it might simplify it. Let me explain.

  1. Before each season starts we create an NFT commemorating the start of a new season. We sell this NFT for a certain price, as “season pass” access, with all of the same specifications you mentioned.

  2. At the end of the season people can buy the next season’s NFT to retain their access.

  3. When a new season starts we remove the old NFT from collabland and add the new one as a requirement for access.

  4. People can optionally buy the “current season” pass before it is over, at a pro-rata discount based on the amount of time left in this season.

The advantage to this is that it falls under our seasonal model, and reduces the amount of maintenance around the NFT smart contracts and various start-end times for subscribers. We can also more visibly see who will be leaving at the end of the season if they do not renew, rather than just randomly losing people with no warning. The disadvantage is creating a new NFT for each season, but that could also be pretty fun.

2 Likes

The problem with this is that Seasons don’t have a a specific time, so it would not be easy to manage thee memberships.

That makes sense. I am going to support this proposal, but I think we may want to revisit the seasonal model when/if we create a consistent duration for seasons.

1 Like

Perhaps the revenue from the NFT month passes could be used to buy back tokens and burn them? Would address the value accrual problem, no?

If the person is going to be joining for a full season and actually contribute, assuming they know in advance what the next season will be about and which project to join, a guest pass seems more appropriate until they get the 35k BANK anyways, or at some point buys them cause they are more confident it’s not wasted money.
But for the person who’s curious about the DAO and doesn’t necessarily know how to start contributing, or the person who has no clue yet if buying the 35k BANK is reasonable, such a 1 month NFT sounds like the perfect first step!

1 Like

I like this idea of making it seasonal.

I’m moving this to archive as it’s been silent for 2 months. Please reply or repost to reopen.