Introduction to the Fractal app
ZEOS fractal
This article is structured in the following way:
1. Purpose of the Fractal app.
2. Purpose of the ZEOS fractal.
3. Main features of the Fractal app.
Purpose of the Fractal app
The Fractal app enables communities on Antelope networks to start fractals.
fractal is just a type of a DAO that at its core has governance system based on fractal democracy.
The app is based on research and experimentations conducted by fractally, Eden and AW communities.
The first community to utilize the Fractal app will be ZEOS on the EOS mainnet. Below is an overview of the app in the context of ZEOS fractal.
You can learn more about the rationale behind the Fractal app from Matthias Schönebeck's article on Pseudonymous Fractals.
Purpose of the ZEOS fractal
There are three main purposes for the ZEOS fractal:
1. Decentralize the ownership of the ZEOS smart contracts.
At this point ZEOS eco-system has 8 contracts that are all controlled by Matthias the founder of the project. If the keys controlling the contract are seized, lost or inaccessible it could result in variety of problems. In case of seizure, all the assets that are in the ZEOS protocol could be stolen. In case of loss/inaccessibility it becomes impossible to configure and update the contracts.
ZEOS fractal offers an elegant governance system to give control of the contracts to the most trusted community members, hence providing better protection from seizure and ensuring updatability of the contracts even if the existing owners become inactive.
2. Provide fundamental governance structure that would support the further development of the ZEOS eco-system.
ZEOS fractal members that are elected through the governance system will have full access to the treasury of ZEOS. Elected community members essentially become board of directors, with primary responsibility to act in the best interests of the ZEOS token holders. The ZEOS treasury could be used to further enhance the organizational structure, for example by establishing circles and by compensating individuals contributing to the ZEOS eco-system.
3. Build strong community and foster collaboration.
The governance system features one video meeting per week. Meeting participants are randomly divided into small groups. Those small groups offer excellent venue for community members to meet each other and build relationships. For example, my collaboration with Matthias was born out of participation in Eden fractal’s meeting.
Main features of the Fractal app
Induction system
Only members of the ZEOS fractal can participate in the governance process. In order to become a member it is necessary to go through the induction process. The process is initiated when user submits his application via the UI of the Fractal app. Once the application is submitted 5 existing ZEOS fractal members have to approve it. Lastly, once there are 5 approvals, the applicant needs to approve himself, that step finalizes the induction and grants the membership to ZEOS fractal.
WebRTC integration
WebRTC enables to have video calls within the web-app. It is a crucial component in determining who should be the owners of the ZEOS contracts. More on that in the Election system section of this article.
Token distribution system
Any token based on eosio.token standard can be distributed to participants in the weekly elections. In order to distribute tokens they have to be sent to ZEOS fractal’s account prior to the election. Any EOS account is eligible to send in the tokens to be distributed. After the election every member is able to claim the distributed tokens.
State machine
Every week there are three states the ZEOS fractal can be in.
Idle state (6 days 23 hours 5 minutes) — most of the time the fractal is in that state. During it, membership applications can be submitted and approved.
Registration state (15 minutes) — during this state members of ZEOS fractal can register for the upcoming election .
Election state (40 minutes) — during this state registered members are able to submit the election results.
States of the fractal are determined by the EOS mainnet’s blockheight. Any EOS account can transition fractal from one state to another, as long as certain blockheight is reached.
Election system
This is the main feature of the ZEOS fractal. All the other features are simply to support the election system. Through the election system owners of the ZEOS contracts (board of directors) are determined.
Election takes place every 7 days. In order to participate a member of the ZEOS fractal has to register for the election via the UI. Registration is open for 15 minutes.
Once the registration ends all the registered members are divided into small groups of 3–6 people (UI enables participants to provide randomness to ensure random grouping). Thanks to the WebRTC, video session is started for each group. To maintain pseudonymity we encourage to conceal the face by wearing glasses, masks and hats.
Video session lasts for 40 minutes.
During this session each member has to answer one question.
What was your contribution to ZEOS during the last week?
Examples of contributions:
“I’m just a ZEOS holder wanting to ensure proper functioning of the governance system.”
”I’m a developer who built a new feature for the ZEOS DEX during the last week.”
”I was active in the telegram chat.”
”I tested ZEOS DEX on the UX testnet.”
”I introduced ZEOS to a friend.”
“I produced a video/article about ZEOS.”
“I got ZEOS listed on an exchange.”
Below the videos there is list of all the account names of the group members. In essence, the election mechanism is the ranking of the contributions of your group members. Each box with the account name can be dragged & dropped. The member who in your opinion, during the last week, contributed the most to ZEOS should be dragged to the top. The member who contributed the least to the bottom. The emojis to the left of the boxes signify whether there is consensus amongst the group members about that particular rank.
💯 — unanimous consensus.
😊 — consensus, and you’re part of it.
🤔 — consensus, but you’re not part of it.
🤷♀️ — no consensus.
Only the groups where 66.6% consensus is reached on the ranking of each member, are subject to REZPECT token distribution.
Sidenote: If everybody submitted rankings and there is still time left, members can use remaining time to have unstructured discussion.
Role of the REZPECT token
All the groups that reached consensus are rewarded REZPECT tokens. Within the groups the REZPECT is distributed based on the Fibonacci sequence.
Level 6 (contributed the most) = 21 REZPECT
Level 5 = 13 REZPECT
Level 4 = 8 REZPECT
Level 3 = 5 REZPECT
Level 2 = 3 REZPECT
Level 1 (contributed the least) = 2 REZPECT
Besides REZPECT any eosio.token that was sent to ZEOS fractal during the week will be available to claim after the election. Similarly, Fibonacci sequence is used to determine the claimable amounts.
Example:
If during the week ZEOS fractal received 100 EOS, the election had only one group with 6 members, the claimable amounts per Level would be following:
Level 6 (contributed the most) = 40.4496 EOS
Level 5 = 24.9997 EOS
Level 4 = 15.4510 EOS
Level 3 = 9.5494 EOS
Level 2 = 5.9020 EOS
Level 1 (contributed the least) = 3.6477 EOS
REZPECT is a non-transferable governance token that has multiple utilities.
Primary use case of REZPECT is to determine who gets assigned into the permission system of the ZEOS contracts.
At the end of each election top 5 average REZPECT holders across the last 12 weeks are automatically assigned into the active permission of zeos1fractal account. All 8 ZEOS smart contracts will have zeos1fractal account in their permission system. Meaning, all the ZEOS contracts will be controlled by zeos1fractal account.
Top average REZPECT holders = board of directors.
Examples:
- John participated in two elections in the last 12 weeks and earned 34 REZPECT.
Average REZPECT = 34 / 12 = 2.8333 - Peter participated in 5 meetings in the last 12 weeks and earned 65 REZPECT.
Average REZPECT = 65 / 12 = 5.4166
REZPECT token also unlocks certain abilities within the ZEOS eco-system.
Initially there are two abilities that REZPECT holdings unlock.
- As described above, the ability to become a director of the ZEOS fractal.
- Ability to approve new members to ZEOS fractal.
Only accounts with certain total REZPECT and average REZPECT will be able to unlock the above mentioned abilities. Initial thresholds to unlock the abilities are set to 0, since at the start there are only founding members.
As the ZEOS eco-system grows more abilities will be added for those who hold the REZPECT token.
Thank you taking your time to read. If you'd like to be part of ZEOS fractal, applications can be submitted here.
***********************“You can't stop the signal.”***********************
