Y u no come or: incentivizing participation
I have been following the OST team since I met them way before their ICO last year in London at one of WeWork’s inspiring coworking spaces. The team around Jason impressed me with their authenticity and by building rapport with the crowd by taking us through a retrospective of their experience prior to entering the blockchain space.
Our team has pivoted three times within the last 6 months which hasn’t left much time for engaging in a developer’s favourite activity: testing new technology !
Why did we decide to register for OST Alpha Phase III?
OST is doing what I see few other projects do: build a suite of tools that are directly usable with no or very little developer expertise necessary. All of our projects so far depended fully on our development and product talent. From a client side we have felt the need to _constrain_ the solution space — limit the number of variables and get to testing and validation much much quicker. And that is what #OSTa3 offered us: a means to validate our tokenomic assumptions on a platform that is not developer-facing. Perfect for testing small token economies !
What is the goal of our project’s use of Blockchain ?
The goal of our project is simple: drastically lower the no-show rate at not-for-profit meetups and conferences.
We do this by incentivizing participation through requiring every registered participant to pitch in a fixed deposit into a pool of funds. An oracle (aka the organizer) verifies attendance at event time, which results the in the refunding of the deposit to paying wallet.
The clou is: every non-show is pooled and distributed to all the people who actually showed up, divided evenly. SO , attending can actually result in a little profit !
What is the current progress of our Alpha Phase III development?
Our current implementation on Ethereum is a bit rough around the edges so we began seeing how far we can replicate our PoC on OST a 1.5 weeks ago. We weren’table to create exactly the kinds of actions we need to establish a shared pool of funds.
More importantly, we had the following issues:
- we couldn’t (and still can’t) delete the default actions
- the minting process is well explained, but the exact mechanics of what #’s of tokens are available and the relationship to the staking wasn’t very clear
We are follwing through the platforms detailed step-by-step process and will publish our next blog post soon !
Thanks again to www.ost.com and we are looking forward to the other teams solutions !