$TRUST: The reputation token of Trusted Seed
Trusted Seed has always nourished the mission of Commons Stack. As it continues to extend its branches to different ecosystems, we are giving it the utmost care and the recognition it deserves.
In the near future, we will be giving Trusted Seed its own identity to make it more distinct and well-structured. For starters, we are migrating the CSTK score to the new token $TRUST. Here’s everything you need to know.
Why are we changing from CSTK to TRUST?
The Commons Stack Association mints its own reputation token for its members. To better signify the differences between the Commons Stack and the Commons Stack Association (Swiss entity), the Commons Stack Association is voting in the next General Assembly to formally change its name to Trusted Seed. Along with this change, the token symbol will change from $CSTK to $TRUST as well to further distinguish it as an organization, and “TRUST” represents the token’s utility better than “CSTK” does.
Also, it’s just way cooler.
What is $TRUST?
TRUST score ($TRUST) is simply your new CSTK score. The name has changed but everything works the same. It is still a non-transferrable reputation token that represents the “skin in the game” that value-driven members of the blockchain community have put towards advancing Commons Stack’s mission. Like $CSTK, $TRUST is on Gnosis Chain.
Anyone holding $TRUST is a member of our Trusted Seed, a highly curated list of reputable & experienced community members who are aligned with our mission of creating sustainable funding for public goods using token engineering and commons management best practices.
What will happen to my $CSTK?
Your $CSTK will remain in your wallet but it will not have any further utility. The amount of $CSTK in your wallet will not change, it will always be a token of your OG status in Trusted Seed! 😎
Is there anything I need to do to replace my old $CSTK with the new $TRUST?
Nope! $TRUST¹ has already been minted for all existing $CSTK holders. The new $TRUST and old $CSTK holdings will be the same.
To see the $TRUST token in your wallet, add it as a custom token to Metamask :
- Go to the $TRUST token’s page on Blockscout
- Click on the Metamask fox icon
- Click “Add Token” in the Metamask pop-up
¹Note: The TRUST score token is a MiniMe token issued by Trusted Seed’s Aragon DAO that complies with the ERC-20 token standard.
How can I earn $TRUST?
If you’re new to Trusted Seed, the first step is to apply to become a Trusted Seed member. The Trusted Seed Gardeners will review your application. Once you’ve been accepted, you can proceed with the activation of your membership on our Swiss Membership Dapp to receive your initial TRUST score and continue building it with your contributions to Commons Stack.
Existing members of the Trusted Seed can increase their TRUST score by:
- Renewing their membership: Anytime members pay membership dues they receive a score increase, and the more they pay the larger the increase.
- Getting “Praise”: When people help us advance towards our goals, our community recognizes these contributions by dishing Praise in our Telegram and Discord channels which increases TRUST scores.
What can I do with my TRUST score?
Governance rights: Individuals with TRUST score will be able to participate in certain Commons Stack governance decisions such as voting to select which communities will participate in future Commons deployments.
Last month, the Commons Prize was launched to choose the next community we will work hand-in-hand with to deploy a Commons based on our cultural and technical design patterns. Communities that meet the Commons Prize eligibility criteria are encouraged to submit their nominations by May 6th. Using the TRUST score, Trusted Seed members will vote for the 3–5 finalists that will advance to the next round and then vote for the winner.
Participation in future Hatches: TRUST score will enable people to participate in future Commons Hatches, bringing in their experience and expertise to help guide these Commons towards success.
The Hatch phase can be considered the initialization of the Commons. This is where a group of trusted community initiators come together and make the initial decisions on how the Commons will be set up.
In the TEC Hatch, every $CSTK held allowed its holder to send 10 xDAI into the Hatch, we expect future Hatches to also parameterize in a similar way where the more $TRUST you have the more funds you can put into an early stage Commons.
Eligibility for legal protection: $TRUST holders are eligible to receive a fixed sum for legal protection against litigation for activities in good faith in a qualifying DAO.
For more information about your TRUST score, you may reach out to our Trusted Seed Gardeners mafer_cordovas#1034 and Yineisy Mota#1449 on Discord.
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