Proposal Type: Signalling
Champion: TBD
Date: 11 October 2022
State: Draft / Work in Progress
Context
If Proposal 2210-2 Proof of Fee passes, the need for Towers will be eliminated and Carpe users will have nothing to do. This proposal advocates for one approach (an oracle service) to creating utility for Carpe. Additionally, 0L is seeking to have more revenue opportunities for the chain and expanded functionality. Oracles are ways of getting off-chain data onto the chain, e.g. getting the price of a coin from a website. The design does not foreclose other future uses for Carpe.
Synopsis
This proposal advocates that we take advantage of the Carpe installed base and repurpose Carpe into an Oracle Protocol, which in the future would be another source of revenue. Common oracle use cases are for the scraping of pricing data and exposing it on chain for apps to consume the data. Other similar uses are also possible. As such, oracles are a foundational piece of blockchain architecture that enables other services to function onchain in 0L.
- While the nature and pricing of the service will require subsequent governance action, a simple revenue model could work like this: The Oracle service will charge fee for its data stream that revenue should be designed to cover the Carpe costs.
- When revenue surpasses Carpe costs, then the remainder should be burned (i.e. redistributed to all accounts).
- Initially, as revenues ramp up, a subsidy will be needed to keep Carpe users mining until the Oracle product is complete.
Impact of Voting YES on this Proposal
- Tower mining, and the Identity Subsidy, by Carpe will NOT stop when towers are discontinued with Proof of Fee. It will continue until an Oracle subsidy or Oracle product can be introduced.
- The Engineering team will design and build an oracle function for Carpe Miners
- The oracle upgrade will be distributed for on-chain policy upgrades (AKA Stdlib), and upgrades to Carpe.
Impact of Voting NO on this Proposal
If this proposal is defeated, Carpe mining will have no reward, and Carpe will continue only as a wallet.
- If Delay Towers are abandoned (as per Proposal 2210-2 Proof of Fee, or other governance action), then Carpe will cease to function.
- Note that if this proposal is defeated, there will remain a need to explore future expansion of Carpe functionality, or the sunsetting of the Carpe app. The author encourages those who vote No on this proposal to work with the community to find a means to address these challenges.
Reference Materials
- See Proposal 2210-2, Proof of Fee, for an explanation of Proof of Fee and how that would replace Delay Towers.
Notes on Process
- This document is a Draft / Work in Progress. It will change until marked as FINAL. The closing date for revisions is 15 October.
- Publication here is an invitation for community collaboration and co-creation.
- To engage on this content, visit the #governance-proposals channel on the 0L Discord (link at bottom right)
- Once this Proposal is finalized, it will be the subject of Voting on the Radical X Change platform. If you do not yet have credentials, visit the #rxc-voice-discussion channel on the 0L Discord and make a request to join.
- Voting opens 17 Oct and closes 22 Oct