Building New Digital Communities, Coordination & Tooling

Transcript

nice cool everyone I'm James I'm James nice so this is gonna be a little less technical than how I PC on cosmos works but obviously this is super valuable so we will be talking about sort of meta cartel and building these new digital communities from a couple of different angles so prints the clicker a million times I'm gems war I'm a member of James dark which makes sense also one of the core contributors of Medicare gel and also playing a pretty key role in Medicare tell winches and also founded axial ABS nice yeah axial ABS a few years ago and we really focus on sort of token design and governance design we work with a bunch of token projects here as well as some

more sort of formal enterprise people and I'm James Duncan I'm also part of the James down one of the founding members from the Boston eath Boston a couple about a year or no a couple months ago more also a part of the Medicare cell founding members there it's been really focused on the legal design of the venture Dow and I was formerly a part of the EF grants team that's kind of my how I came into the ecosystem and where I got a lot of the knowledge for what is going on in aetherium today at the moment I'm building a bridge it's a company focused on user experience and creating usable interfaces for people like my mom to come into crypto and understand it and

interact with it and it do provide value for for her easily so nice so we're gonna sort of split this into two parts the first of it is like giving a little bit of context on Medicare and then James will deep dive into sort of how we can get you know more than like the 50 people in the room how do we scale this into like into a wider community I'm so first of all hands up if you have heard of Medicare tell before okay it's like 50% like 30 40 % so basically what Medicare tell is is a grant giving down right so we give out money to cool projects that's the one pitch but what it started as was basically a telegram group for just around meta transactions right so meta transactions is basically the ability to send round aetherium or other

tokens in a way that is just less painful and then that was sort of solved last year by the gas station network but then there was still a bunch of people in telegram group that we're interested in hanging out right and so that's sort of how the Medeco Tower was first started and it's spun up a bunch of interesting projects from there so we have about a thousand eath in the Dow and we give out grants to a bunch of different people ended up a bunch of different projects mainly going to sort of hackathons and events like this and sort of finding the most like pure talent that we can so one of the really big things is there were a lot more minute than we are cartel we haven't been rolling around and you know like scary-looking SUVs with ak-47s we haven't got to that stage yet but

what we have been doing has been pretty meta right which is like using the most effective tactic available and we've been very pushing really hard down that route whether it's the get coin CL are matching so we collected 25% of the most recent CLI matching just by sort of having a community and pushing each other to sort of get involved and help it out all of your bases belongs to us especially if it's a doubt so we have sort of all of the communities or at least a lot of the communities these are all a bunch of cool logos of a bunch of different working groups there's hundreds of telegram groups and you know tens of calls per week just to go through a few of them sort of meta cleaners this idea of being able to have a guild of guilds for a bunch of

different crypto games meta Factory is an amazing amazing project that just had an announcement on Monday which is basically combining real-life fashion so like a jacket or a cool like bum bag I guess you call it yeah but a bunch of bunch of different cool like physical fashion and then also like NF tees which also have like dye backing the in of tee a bunch of cool stuff you can find it online MIDI game is sort of the combination of real-life and how this you know the decentralized world are going to intersect raid guild I'll talk about a little bit more in a second but it's sort of this decentralized collective that can provide services rocket NFT maybe you heard Alex talking yesterday is a really interesting way that you provide loans against in if T's doubt House is an amazing platform to interact with these days I'm etiquette L

ventures or talk about a little bit marketing down another really good initiative to for word aetherium and of course medica tell itself plus a bunch more really what we're doing is trying to incubate these cool ideas and incubate these cool people and to pushing forward down you know whatever path they think makes the most sense so you know it's we have sort of all these different communities and then we have this sort of wider universe right of all the different meta cartel projects and really like everything that you see here has been started in the course of like eight months right it really has not been a long time that these communities have like all pushed together you know there was telegram groups before that but you know going from 0 to 100 has really been a short time and even these stats here this was

probably like two months old a little bit more than two months old and these stats are already outdated right there's probably almost double as many community members there's like thirty percent more down members we've deployed probably almost a hundred grand now worth of capital to a bunch of different grantees really we are pushing forward at the maximum speed possible and you can sort of see around the universe these are the people that we've given money to and not just given money to right but also given signal to giving dog food with dog food at almost everything we give a grant to so you know getting a grant from inner keitel is one thing but getting 70 people sharp to your door to use your debt or use your protocol it has been hugely useful for a bunch of these projects so the path to sustainable

doubt so you know it's all good and well having a nice universe but if we're just giving away money how do we sort of build sustainability into this so really the sort of process here is that we can give these grants then we can provide these services then we can make these investments in a way that isn't shitty right the idea of Minnick i tell is to be focused around pushing forward apps on top of aetherium and anything else that comes out of medicaid how has that sort of embedded in it as an ethos and that's been super successful so far so these Dow service service providers what are they how do they work there's raid guild which is the sort of collective of a bunch of different cool people that are all trying to push forward projects as a collective and provide you know front-end back-end

accounting game theory all together um axial ABS oh it's me and count them and a few other cool people and we do a lot of cool token design stuff abridged James will give an excellent explanation of but it's doing really cool down up stuff and sort of onboarding this next wave of people into douse Odyssey you do a lot of front-end back-end development and an open law is sort of connecting these dowels to a legal structure and we're all sort of trying to provide services for this next wave of you know dour magic that is entering the space money versus signal this is another really big part of the sustainability piece is that you know traditionally the way it's worked in crypto is that you show up and you say hi I have a project and I will go to the coolest biggest logo VC that I can and

I'll sell my soul to the VC and then I'll get to put their logo on my website and then all the other VCS will follow and be like oh yes there's these cool logos on the website how do I buy it um that's okay right but maybe it's not that scalable and maybe if we can sort of actually you know invest in things for the right reasons and push companies forward in the right reasons you know when we when was providing services hey we're not going to charge you 50 million dollars to make you a logo hey when we're making an investment we're not gonna take 98 percent of your token supply it for you know giving you $5,000 how do we build these more like if the core gifts or like you know sustainable models enter the whole process from sort of giving grants to doing services to

providing you know investment not just pouring money people actually doing the experiments hopefully what we're doing so really what this is is there's a bunch of cool projects you know there's a bunch of cool initiatives working groups telegram groups of people that actually just care about you know what the etherium ecosystem and what the wider blockchain ecosystem we're doing we always are at hackathons giving out grants hopefully you've seen a bunch of us around you know really what we're doing is sort of trying to move aetherium from interesting you know experiment to like how do we push these experiments to the next stage and make them into a reality so this is sort of like one you know solar system of a theorem if you think about it and really what James will touch on and what we're looking to do next is how do we go from one solar

system to like building it into this massive wider universe and sort of opening it up to like the normal humans that like an attending HCC and don't speak like deep aetherium and that's sort of the next step of this so with that I will give you to that other James thank you James so right as James just described we're moving toward a Ted approach we're focused on a user interface that anyone can use right that that isn't just useful for people who have downloaded MIT asked and so where do we build the next social interface another piece of this too just to putting into context is that dows there's a range of dows right there's a more permissionless open Dow which is like a theorem or you know swap for instance and then there is what

we're doing here which is really coordinating humans and creating democratic systems to make decisions about resources and so in order to sort of build the next social network which is what this sort of type of Dow structure looks like for for crypto is you need users and you need communities that already exist that are incentivized and interested in pulling together resources and committing that resource to a specific cause and promote a specific initiative and this will be a little bit more focused on sort of the what it takes technically to bring adoption what kind of design patterns we have come up with and found that are most effective but essentially you need a good UX and you

need distribution to create adoption I've made a necessary and sufficient cause here for the more technically inclined to make that a little more approachable but the first five minutes of UX the first five minutes the user needs to feel comfortable and trust worth needs to feel comfort and trust within the application right if they don't feel this they are going to leave and they will probably never come back again comfort and Trust it comes as a as is sort of like a factor for great UX in order to create comfort we can't make the user think we need to make it mobile first and there can't be any downloads Mobile first development there there's actually a stat that more people have an

internet connection to their phone then they do have clean drinking water in the world and so that's like one small piece of the power of what like mobile development and mobile access really provides right it's Anna small anecdote and then trustworthiness in order to have trustworthiness you have to first satisfy these comfort factors and the trustworthiness comes from providing value prior to asking for anything from the end-user and also creating this easy to understand interface and so they don't have to think again about exactly what they're doing with crypto in order to do this there's this concept of incremental decentralisation where

you can make trade-offs and create a hybrid system for someone who is coming into the to the ecosystem they're using an app for the first time maybe it's just there's five dollars at risk but you create a low-risk environment that might be hosted potentially and then incrementally decentralize into a place where they're you know fully Cousteau noncustodial and they are interacting with maybe a Yuna swab or creating some more of these like defy or sophisticated defy principles and in order to create this sort of experience you need an account contract that's mobli accessible that's using meta transactions to talk to the blockchain and using a layer 2 solution to create an easy interface and and UX and this is

kind of the architecture that has been built for with the abridged v2 contracts so this is kind of what the system looks like on the back end and in a visual representation of that after you have this user interface in this user design and in this like application that's easy to use you need effective distribution without effective distribution we've just been building things in a silo and that's really what a lot of our projects sort of do is is create ideas and this kind of Cathedral in a desert and without a distribution uni yeah that there will be no people that come right and this is also sort of a piece that we don't want to emulate we can't really

talk about blockchain right because often if we do we kind of end up looking like Charlie here right which which isn't ideal to create users and to put into context typically incumbents have this is like the strength of network effects right so incumbent political incumbents have 98 percent chance of win winning generally according to Google I just kind of like Google this when making a presentation to kind of understand quickly how how strong incumbent network effects are with crypto we have 0.1% of the face population right so if you think of social networks within crypto we are you know even less inclined to encourage

people from incumbent platforms to to kind of join this sort of crypto movement right and so we need to build where people exist this is kind of the idea and in order to do so we're starting at a bridge to build in crypto functionality into social interfaces right so this is where people and communities exist today online is in you know facebook chat rooms they're excited about as memes or global warming or whatever cause that they're interested in whatever game etc and if we bring this kind of functionality and and this value to those communities in interfaces that they already exist in we don't have to change their habits they're just

using a new tool within that community and again we want that messaging to not look like Charlie in the previous slide so that means no blockchain low-risk use case and again we need existing communities so we need to give these communities tools that will empower them to accomplish their goals and that to me kind of looks like dowse to some extent I think dows could be the lowest threshold for someone entering the space as long as they don't have to really conceptually understand what's going on there I mean I can dig into that in just a second but essentially so here's some

progress that we have today we have permission communities like I described before which are what the medic cartel is doing is more that social interface then we have the permissionless communities which are like these open networks that have incentive mechanisms to have people participate in a more on Tomas way there's about 300 people in the medic art cell and about again in these permissionless communities like less than a percent of the broader Facebook population right but they're extremely active and so that's encouraged and right whenever you have a community you might have a population but that population is extremely active so we've had almost 500 proposals since the beginning of the Maalik Dow which started just about a year ago today and

within aetherium I don't know if you've seen this chart this is a chart from the state of crypto report by I do in a collaboration of other institutions within our industry but aetherium is extremely active as far as its developer commitment and the how much time developers commit to its ecosystem which i think is also extremely encouraging at the same time there's not a lot of growth here especially in this bear market due to information and there's also like difficulties so within Dow's that we're involved with or like the medic cartel there's information asymmetry due to the lack of the different time zones and a lot of people might like misinformation because

there's a zoom call it 2:00 a.m. their time but you know they didn't get it on in real time at a you know at their hour maybe they're across the world and with etherium despite it being an open network it's still a difficult on-ramp conceptually right and people like eath Hub we're really like accomplishing or solving that issue but it's still there's a lot of like economic and technical leaps that you have to make mentally in order to understand what it means to really join in participate in the theorem today what we're doing at a bridge is we're starting to integrate these systems into social interfaces so we have the signal Dow which we launched recently has up more than a hundred members and people are using it people are using it it's huge right so we've

seen that it increases participation by 10x of what moloch typical participation rates look like and we're calling this Dow ops where we're integrating web to api's with web 3 functionality and we're kind of providing this little middle layer interface for that and I can dig into that more later because if you want to find me after this but again back to that question of why I think dows might be the lowest threshold for someone to enter the ecosystem what if we had a million members in a down and they all contributed five dollars at a time so that's like possible you could ask a million people to contribute five dollars to a specific cause that they're interested in and if you don't necessarily call it now they don't even have to know it's a Dao

they don't even have to know its blockchain in the back and they could just be using wire and they use Apple pay and then they have that much money to kind of contribute to the cause that they're most excited about communities that we we have been working with today that are you know interested in potentially doing this or democratizing their governance structures are ones like the dankmemes which we've been working very closely with they're about 150 million people online within this network who are you know collaborating around memes and we just on-boarded about 17,000 initial token holders this this past weekend but another group that I'm really interested in and excited about is like a global coalition they're building structures to then reinvigorate

coral reefs and this could be a great candidate for that $5 mil that that $5 Dao idea or you have a million people contributing $5 to then support the you know like something that is is benefiting I got blotching for social good project right that actually has teeth anyway that is our presentation yeah so I mean I think like super great to give it a little bit of context on sort of how we can expand the dowsers and also sort of where they're at today but like the thing is get involved right no one has been paid for a lot of the efforts inside of these days we're doing it because it makes sense right because we sort of see this wider picture and so scan the QR code go to medicate org see how you can get involved there is a bunch of different efforts going on and

a bunch of like actually doing things for the right reason right raising a million dollars for a token is great but actually doing things for a community and to get specific outcomes is probably better so yeah thank very much thank you so we we're running out of thing so I can take one or two questions so is there any question thank you for the tool can you explain a bit more about the choral Dow that sounded amazing yeah absolutely and this is just an idea right now but it's a this group called the global

coalition they've like just kind of started forming and they're they're actually building these concrete structures they're an art collective that's building concrete structures to then create coral reefs and they're sinking them in in certain areas that that have they have already like coral growing on them which will then reinvigorate the the environment in the bottom the ocean and I think like an early iteration of this would be doing something more simple than maybe a Dao and you just spin up an AR die sort of like a like what they're doing with the high priests either an AR die or try some interest-bearing mechanism and that way you can get people to then contribute five dollars if you get a million people to contribute $5 it's six I think it's six thousand dollars a month or so at 8% interest that they can

then contribute to that you know operations of that of that that organization which I think would be really powerful narrative both for crypto as well as for coral restoration I love it I really love it thank you how what's the easiest way to join that contact me I can all right I will can I can you expand on mythical adventures like what is have you invested in companies right now and yes so basically what we've done in the past three months we've been working alongside coin list and we've been doing

the KYC and accreditation through there we have now 40 crypto founders that have all committed to put in some amount of capital and again putting a billion dollars into a fund and then investing is not the point here right putting a small amount of money with a high amount of signal behind it this is the point and if we can sort of have this collection of money where we can make these small strategic bits that's one thing but on top of that we can also signal behind them we can have all these different founders have all these different projects really like investing and things for the right reason and being able to turn you know zero into a 1 for all these projects along the way we really don't want it to fail so we're going to do it you know lot of work will go into every single

project we invest in which is mean that means that there's a lot of projects that are you know keen to get involved Thanks nice thanks guys [Applause]