Announcing the Commons Prize!
The next regenerative Commons economy to support public goods could be yours. Nominate your community!
We are looking for the next community to work hand-in-hand with in order to deploy a Commons based on our cultural and technical design patterns. To select that community, we are launching the Commons Prize!
The Commons Stack will work closely with the winning community in the deployment of their own Commons using our Collaborative Economic approach. We will advise the community leaders and greater community, in weekly working sessions, on how to deploy our unique cultural and technical builds. We will bring with us the tools, expertise and experience from the first Commons deployment, the Token Engineering Commons (TEC) who we partnered with for over a year to launch their own Commons in early 2022.
The TEC has…
- raised over 1.5M wxDAI at an initial Hatch token price of 1 wxDAI, which is currently minted on the Augmented Bonding Curve for 2.18 wxDAI,
- funded over 300K wxDAI in mission-aligned proposals including TE Fundamentals, TE Consilience Library, NumFOCUS, Proposal Inverter, as well as their own operations, and
- an active and growing community of 300+ members.
About the prize
The Commons Stack will…
- work hand-in-hand with the winning community to launch their own regenerative Commons economy! We will provide a modular approach to walk your community through the 4 phases of deploying a Commons and will actively participate in working sessions from the beginning to end.
- bring in other token economics experts to guide you on the creation of an ethical and regenerative Commons economy.
- help you finance your community’s Commons economy. You will also benefit from the Trusted Seed, a curated list of impact-focused and value-aligned individuals, as potential early co-vestors in your Commons.
What is a Commons?
When we say “Commons”, with a capital “C”, we mean the specific type of digital organization that is initialized using the Commons Stack design patterns. This includes participation of the Trusted Seed in the capital formation and early-stage governance, technical components of the Augmented Bonding Curve and Conviction Voting DAO — deployed via the 1Hive Gardens toolkit, as well as cultural components that have been built to weave Elinor Ostrom’s 8 principles for Commons stewardship into the daily practices of the community.
There are many great projects or products that will benefit from the support of a Commons but do not need to actually become a Commons themselves. A Commons is a community or a coalition of projects that will together advance a particular mission benefiting a public good. More specifically, the community should have collective funding needs and want members voting over fund allocation.
For example, mission-aligned projects or products can group together to launch a Commons to fund their shared mission such as DeSci, ReFi, UBI, Self Sovereign Identity, etc.
Steps of the Commons Prize
- Nominations
Nominations are open through the first week of May. Each nomination will be vetted to make sure they meet the required criteria. - Vote for the finalists
The Trusted Seed will vote on all of the nominations and vote for the 3–5 finalists that will advance to the next round. - Vote for the winner
The Trusted Seed will vote on these 3–5 finalists and determine the winner. 🏆 - Commons Prize awarded
The winning community will be awarded the Commons Prize and then get started on the planning for the deployment of their Commons.
Criteria for eligibility
- Must be a community focused on a common cause. There are many great projects and products that can benefit from the support of a Commons but do not need to become a Commons themselves. A Commons is a community or coalition of projects that will together advance a specific mission. Projects or products can group together to launch a Commons to fund their shared mission (e.g., DeSci, ReFi, UBI, Identity, etc.)
- Must support public goods. The Commons Stack’s vision is to see the proliferation of Commons economies supporting public goods everywhere. All nominated groups must show that they will provide public goods for their community.
- Must have basic familiarity with Web3. The nominated group should have at least a basic understanding of Web3. Can you use Metamask? Good enough.
- Must be committed to the partnership with the Trusted Seed. Trusted Seed partnership benefits are: capital, expertise and engagement. The partnership provides access to the Trusted Seed capital, expertise in Commons and Token Engineering, and the engagement of subject matter experts in initial decision making. A commitment to this partnership could look like an allocation of the Commons’ reputation tokens between 10%-50%. Reputation tokens will correlate with governance and decision making, as well as the amount that can be contributed to the fundraise.
- Must be committed to the build process and have the resources to see it through. The deployment of a Commons will take about 9 months, or possibly more. The deployment will happen in four phases:
- Phase 1: Initialization
- Phase 2: Buidl
- Phase 3: Hatch
- Phase 4: Commons Upgrade
During these phases, the community will need at least 5–6 Stewards that will be working at least 20–40 hours per week. The community will need to fund these roles. Community or organizational stakeholders will also need to be identified and be ready to commit a few hours a week for steering and initial decision making. Lastly, an existing active community or the desire to build one. A Commons is founded on an active community where people have an active voice and contribute to the evolution of that community.
To recap, these are the requirements from the side of the nominated community:
- Funding for 5–6 Stewards
- Funding for as many stakeholders as desired
- Active community or commitment to build one
Where can I make a nomination?
Here on the nomination form.
Where can I ask for more information?
Come talk to us on our Discord server or reach out to usamaahmed#9991 who will be happy to answer any additional questions you might have.
