Reflection: Building the Middle Class of the Creator Economy (Part One)
The Dev Protocol team was recently inspired by Li Jin’s recent newsletter, “Building the Middle Class of the Creator Economy” which highlights the income gap between creators on various platforms. Li discusses that only 2% of Patreon accounts earn the United States’ federal minimum wage of $1,160 per month in 2017. Additionally, a Spotify user must have 3.5 million streams to receive ~$15,000 which is approximately minimum wage in the United States. When platforms ignore the concentration of wealth they sacrifice the benefits of a strong middle class. The benefits of a strong middle class include more innovation, more selection, higher creator retention, and an increased demand for new creators to onboard.
Dev Protocol’s application Stakes Social faces the same challenges as Web 2.0 platforms. In order to build a healthy middle class on Stakes Social we must prioritize features that will lead to an increase in the distribution of wealth. The Dev Protocol development team is now focused on putting forward feature proposals for the community to vote on. The first proposal we’d like to put forward is a Creator Reward Withdrawal Limit (DIP #38).
The Creator Reward Withdrawal Limit proposal aims to facilitate the distribution of wealth amongst OSS developers. The withdrawal limit is equal to the withdrawable amount assuming that the “geometric mean of the number of stakings for all authenticated Properties” is staked. An OSS developer ‘s withdrawal limit linearly increases with the amount of DEV they stake for other OSS projects. This proposal is especially fitting for the Open Source community where most software is interdependent. In addition, this proposal aims to alleviate the issue regarding self-staking by creating an incentive to stake for other projects instead of self-staking.
The Dev Protocol community can vote to implement this proposal on our Discord.
Join the Dev Protocol Community!
⛲️ Forum
🧑💻 Discord
📚 INITTO
