From a6bf5afb38aef40115d4148a291aadc3d0057279 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 15:08:03 -0300 Subject: [PATCH 01/71] Update pitch.md --- pitch.md | 6 +++--- 1 file changed, 3 insertions(+), 3 deletions(-) diff --git a/pitch.md b/pitch.md index 8cdbd67..e6d72ce 100644 --- a/pitch.md +++ b/pitch.md @@ -1,4 +1,4 @@ -# Revnets +# Revnets for Investors, Entrepreneurs, and Customers of Products and Services on the Open Internet **Add value => grow revenue => become wealthy together.** > _This memo makes the case for revnets. It is delivered in 2 parts: the first part will quickly give context about the problem and how revnets are positioned to play a role in shaping the future. The second includes specifics of how you are invited to participate._ @@ -36,7 +36,7 @@ ### 1.1 TLDR -Today's crypto, media, and AI networks have a business model problem, rooted in the tensions between open source productivity and private value capture. +Today's crypto and media networks have a business model problem, rooted in the tensions between open source productivity and private value capture. This has often led to misallocated resources and capital losses, while creators focused on long-term value creation are left with scraps. @@ -127,7 +127,7 @@ This was just the introduction. Part 2 of this memo digs in deeper, and discusse Those of us developing revnets have been contributors to the Ethereum ecosystem over the past 4 years, most notably having helped build the Juicebox protocol, the juicebox.money app, and the Juicebox DAO community driven by the $JBX network. Juicebox is public infrastructure that provides a tokenized language for expressing various organizational financial guarantees. It has been fundamental to the making of Constitution DAO, Assange DAO, Shark DAO, Moon DAO, Cryo DAO, Juicebox DAO, the Tornado Cash developer legal defense fundraiser, and 1,331 other projects, facilitating over $185 million in ETH payments. -In this era of crypto, media, and AI networks that innovate on internet-native concepts, private corporate-stock models of centralized organization are anachronistic. We've experienced the demand for tokenized fundraising and revenue first hand, we know the tradeoffs of the tokenization tools at our disposal intimately well, and we know how cultural narratives around tokens work. We've been consistently one step ahead of the curve and steadfast in our values. +In this era of crypto and media networks that innovate on internet-native concepts, private corporate-stock models of centralized organization are anachronistic. We've experienced the demand for tokenized fundraising and revenue first hand, we know the tradeoffs of the tokenization tools at our disposal intimately well, and we know how cultural narratives around tokens work. We've been consistently one step ahead of the curve and steadfast in our values. We've also seen the negligence and gross extractive tendencies that over-leveraged entrepreneurs, investors, and traders can succumb to when left unchecked. Blockchains give us transactional freedoms – using them to progress positive-sum game-theoretic financial applications like revnets is non-trivial, while using them to manipulate the public with hyped-up zero-sum Ponzi schemes is easy and unfortunately all too common. From 70221410f7c1bc2429e3a7cc1f95b2a5a95e2b81 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 15:08:24 -0300 Subject: [PATCH 02/71] Rename pitch.md to memo.md --- pitch.md => memo.md | 0 1 file changed, 0 insertions(+), 0 deletions(-) rename pitch.md => memo.md (100%) diff --git a/pitch.md b/memo.md similarity index 100% rename from pitch.md rename to memo.md From 3a9fdbaf3abd8d17d214f75938f4213dde191495 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 15:09:37 -0300 Subject: [PATCH 03/71] Update memo.md --- memo.md | 3 ++- 1 file changed, 2 insertions(+), 1 deletion(-) diff --git a/memo.md b/memo.md index e6d72ce..23b59b0 100644 --- a/memo.md +++ b/memo.md @@ -1,4 +1,5 @@ -# Revnets for Investors, Entrepreneurs, and Customers of Products and Services on the Open Internet +# Revnets +#### For Investors, Entrepreneurs, and Customers of Products and Services on the Open Internet **Add value => grow revenue => become wealthy together.** > _This memo makes the case for revnets. It is delivered in 2 parts: the first part will quickly give context about the problem and how revnets are positioned to play a role in shaping the future. The second includes specifics of how you are invited to participate._ From cc81fdb953f95fee8a7641e09d1128bcfaa1b6e0 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 15:09:54 -0300 Subject: [PATCH 04/71] Update memo.md --- memo.md | 3 +-- 1 file changed, 1 insertion(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 23b59b0..6bf07ee 100644 --- a/memo.md +++ b/memo.md @@ -1,5 +1,4 @@ -# Revnets -#### For Investors, Entrepreneurs, and Customers of Products and Services on the Open Internet +# Revnets | For Investors, Entrepreneurs, and Customers of Products and Services on the Open Internet **Add value => grow revenue => become wealthy together.** > _This memo makes the case for revnets. It is delivered in 2 parts: the first part will quickly give context about the problem and how revnets are positioned to play a role in shaping the future. The second includes specifics of how you are invited to participate._ From 41bb45ae84cac057af876788e165b381795fcba7 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 15:10:54 -0300 Subject: [PATCH 05/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 6bf07ee..6121c10 100644 --- a/memo.md +++ b/memo.md @@ -1,4 +1,4 @@ -# Revnets | For Investors, Entrepreneurs, and Customers of Products and Services on the Open Internet +# Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet **Add value => grow revenue => become wealthy together.** > _This memo makes the case for revnets. It is delivered in 2 parts: the first part will quickly give context about the problem and how revnets are positioned to play a role in shaping the future. The second includes specifics of how you are invited to participate._ From f38ae0b102fc074d191d22383edb4bbb08947e41 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 15:12:28 -0300 Subject: [PATCH 06/71] Update memo.md --- memo.md | 4 +--- 1 file changed, 1 insertion(+), 3 deletions(-) diff --git a/memo.md b/memo.md index 6121c10..66f54b5 100644 --- a/memo.md +++ b/memo.md @@ -36,9 +36,7 @@ ### 1.1 TLDR -Today's crypto and media networks have a business model problem, rooted in the tensions between open source productivity and private value capture. - -This has often led to misallocated resources and capital losses, while creators focused on long-term value creation are left with scraps. +Today's crypto and media networks have a business model problem, rooted in the tensions between open source productivity and private value capture. This has often led to misallocated resources and capital losses. Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. From 1e625630dac209d9a8659a76070d3a8f33a78e3f Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 15:15:27 -0300 Subject: [PATCH 07/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 66f54b5..77125f9 100644 --- a/memo.md +++ b/memo.md @@ -48,7 +48,7 @@ Join us – a group of active Web3 builders with vivid stories to prove it – i Openly accounted-for fundraises and revenues should outcompete everything by enabling: -- **Scaled Participation:** Global community with vested interests accelerates growth. +- **Scaled Participation:** Flexible and potentially global community with vested interests. - **Full Transparency:** Public code and accounting is more trustworthy and easier to cooperate with. - **Cost Efficiency:** Many managerial expenses are not needed when there are no secrets or artificial barriers to progress. From fc17507eff149bd8342a3fe936cecc1609f787b8 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 15:17:15 -0300 Subject: [PATCH 08/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 77125f9..0f8bdb2 100644 --- a/memo.md +++ b/memo.md @@ -55,7 +55,7 @@ Openly accounted-for fundraises and revenues should outcompete everything by ena They struggle to enforce revenue-generation to pay for innovation, maintenance, and growth due to three core dilemmas: - **Monetization Dilemma:** Establishing and justifying debt obligations, growth expenditures, and profit margins on revenue is difficult as an open business scales. -- **Moat Dilemma:** The strategies of open businesses can be copied without inheriting the baggage of the original, meaning cheaper alternatives can emerge easily, devaluing the various costs borne by the work's creation. +- **Moat Dilemma:** The work and strategies of open businesses can be copied without inheriting the baggage of the original, meaning cheaper alternatives can emerge easily, devaluing the various costs borne by the original. - **Dependency Dilemma:** Many profitable businesses rely deeply on open source components, yet don't have clarity on how to foster a productive financial relationship with their communities, or motivation to do so unless developed in-house. This makes realizing open ideals, especially for open source initiatives, reliant on free and inconsistent labor, donations, grants, or corporate sponsorship, when this should instead be the most investable and rewarding category of internet business. From 06775d5bda8cda8ba690c93a3d3fc300559802c6 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 17:16:19 -0300 Subject: [PATCH 09/71] Update memo.md --- memo.md | 99 ++++++++++++++++++++++++++++++++++++--------------------- 1 file changed, 62 insertions(+), 37 deletions(-) diff --git a/memo.md b/memo.md index 0f8bdb2..fcb343f 100644 --- a/memo.md +++ b/memo.md @@ -60,14 +60,14 @@ They struggle to enforce revenue-generation to pay for innovation, maintenance, This makes realizing open ideals, especially for open source initiatives, reliant on free and inconsistent labor, donations, grants, or corporate sponsorship, when this should instead be the most investable and rewarding category of internet business. -Blockchain agreements are the correct building block, but today's attempted solutions are incomplete and come with unsustainable tradeoffs. Businesses and investors currently have the following options for monetizing onchain: +Auto-enforceable blockchain agreements are the correct building block on which to build online legitimacy, but today's attempted business model solutions are incomplete and come with unsustainable tradeoffs. Businesses and investors currently have the following options for monetizing onchain: - **Liquidity farming:** Tokenized models marketed as open and yield providing, but with implicit or explicit backdoors for insiders to dump on retail once they've filled their bags. - **Governance DAOs:** Tokenized voting systems that decide how raised funds and revenues should be spent, creating power struggles that get in the way of effective capital allocation. - **Revenue sharing:** Tokenized guarantees that sales will be split between certain entities, but with no follow-on incentive for propagating network growth after fees have been extracted. -- **NFT memberships:** Rare tokenized artifacts whose value will speculatively increase as the issuing entity becomes popularized, but with no liquidity apart from pump and dumps. +- **NFT memberships:** Rare tokenized artifacts whose value will speculatively increase as the issuing entity becomes popularized, but with no liquidity apart from exhausting pump and dumps. - **Custom mechanisms:** Custom tokenization dynamic with a unique set of coded rules that attempt to fulfill a desired set of outcomes, but requiring everyone to learn a new jargon-filled system and trust that it is implemented bug free. -- **Grants and donations:** No tokenized monetization strategy, just builders and investors with an expectation that their value creation, if done openly, will be retroactively rewarded by altruists who benefited financially from the outcomes. +- **Grants and donations:** No tokenized monetization strategy, just builders and investors with an expectation that their value creation, if done openly, will be retroactively rewarded by altruists who directly benefited from the outcomes. We need a better place to put our money. A revenue-forward growth-oriented solution that is sustainable, reliable, and massively scalable to help every value-creating business with an online growth presence – local and global – realize their potential in the upcoming tokenized economy. @@ -75,9 +75,9 @@ We think revnets might be it: A win-win-win growth engine for investors, builder Revnets resolve the three dilemmas above by creating openly accounted-for financial networks with clearly bounded risks that reliably benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. -Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. +Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, 'the next generation for markets, the next generation for securities, will be tokenization of securities.' We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, compensation, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. -We're deploying a $REV revnet that'll capture 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for ten other spectacular projects we've been working with, showcasing how revnets are: +We're deploying a $REV revnet that'll capture 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for ten other spectacular projects we've been working with, demonstrating how revnets are: - **Versitile:** This simple financial instrument has the power to support diverse applications. - **Standardized:** They create a familiar business interaction standard, leading to a positive feedback loop for all revnet-based projects. @@ -87,17 +87,25 @@ Projects will choose a revnet business structure when they prefer their outcome ### 1.3 Anatomy of a revnet | Introduction -Think of revnets like Bitcoin's halvening rule. Similar to Bitcoin, revnets are a fully pre-configured financial structure – although they can evolve over time, they do so according to rules that are set in place at the time of their creation. Unlike Bitcoin, instead of the rule being periodic supply shocks that lead to a fixed supply of 21m coins over time, revnets enforce a certain other set of guarantees. +Think of revnets like a spicy Bitcoin halvening rule. Similar to Bitcoin, revnets are a fully pre-configured financial structure – although they can evolve over time, they do so according to rules that are set in place at the time of their creation. Unlike Bitcoin, the rules dont involve proof-of-work with periodic supply shocks that lead to a fixed supply of 21m coins over time. Revnets enforce a certain other set of guarantees affecting inflows and outflows of money. -A revnet's guarantees are most simply described as a digital vending machine, whose sequence of enforced rules – how much things cost, how to get the money out – are set when it is created, and can't be changed after. Each vending machine has its own unique token that it issues when someone pays it, and only releases the revenue it has earned when its tokens are returned. A revnet's tokens are always backed by the underlying value of the revenue used to issue them. +Think of it as a digital vending machine: +1. Receives dollar bills from a business's raised funds and future revenues. +2. Dispenses its unique tokens (henceforth $TOKENs) and optionally digital artifcats (NFTs) in return. +3. The only way to access the dollar bills the machine has earned is to give it its $TOKENs back. -> For example, A revnet can be (1) paid in ETH (or other tokens), which (2) generates its own token – let's call it $REV – at a given price, say 1 ETH buys 1,000 $REV. A revnet can (3) have a split in place that automatically sends a percentage of these new $REV to a set of pre-established entities, say 20% split so that 100 $REV goes to two builders and 80% goes to the payer of the 1 ETH, which (4) stays in the vending machine. +The revnet enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: +– **$TOKEN price:** There is always a price at which its willing to issue new $TOKENs, but it will forward inbound funds to an AMM offering a better rate than the issuance rate. This price can be set to change over time at a customizable rate. +- **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. +- **Cash out price:** There is always a price at which its willing to distribute its revenue when it receives its $TOKENs back. Each cash out increases the value of the next cash out, by a customizable rate. + +> For example, A revnet can be (1) paid in ETH (or other tokens), which (2) generates its own token at a given price, say 1 ETH buys 1,000 $TOKEN. A revnet can (3) have a split in place that automatically sends a percentage of these new $REV to a set of pre-established entities, say 20% split so that 100 $REV goes to each of two builders and 80% goes to the payer of the 1 ETH, which (4) stays in the vending machine. Screenshot_2024-01-21_at_17 59 01

-> In order to get the 1 ETH back out, a $REV holder has to cash out, which incurs a tax. This means if (5) one of the builders wanted to cash out their 100 $REV right away, they would (6) get less than the proportional 0.1 ETH if a tax was in place, leaving revenue on the table for those who cash out later. The specifics of the issuance price, split, and cash out tax are set as a sequence of fixed-duration stages that are all specified when the revnet is deployed. +> In order to get the 1 ETH back out, a $TOKEN holder has to cash out, which incurs a tax. This means if (5) one of the builders wanted to cash out their 100 $TOKEN right away, they would (6) get less than the proportional 0.1 ETH if a tax was in place, leaving revenue on the table for those who cash out later. The specifics of the issuance price, split, and cash out tax are set as a sequence of fixed-duration stages that are all specified when the revnet is deployed. Screenshot_2024-01-21_at_17 58 43
@@ -119,7 +127,9 @@ Revnets also inherit the best properties of Ethereum: - **Auditability**: Impossible to hide, simplifying diligence for all participants. - **Composability**: Easy, reliable, and open access to and from other smart contracts, including other revnets for interdependent accounting schemas. -This was just the introduction. Part 2 of this memo digs in deeper, and discusses how we are tuning the $REV revnet for deployment. +As a result of its properties, a revnet's $TOKENs are reliably backed by the underlying value of the revenue used to issue them. This makes $TOKENs great collateral for loans, which each revnet also offers, for a fee paid into itself. + +Part 2 of this memo digs in deeper, and discusses how we are tuning the $REV revnet for deployment. Part 3 follows with case studies and hypothetical scenarios. ### 1.4 Why now? Why us? @@ -141,50 +151,44 @@ With revnets, the open internet will win _because_ it best serves creatives, bui We're calling on partners who believe in this revenue-forward version of the open internet to join the $REV network. The more we help each emergent revnet win, the more we win. Read Part 2 of this memo if you're leaning in. -### 1.6 Examples - -In Part 2 we'll dig into how $REV is being tuned. - -Here are some other revnets we're helping launch this next year: - -| **Project** | **Description** | **Status** | **Link** | -|-------------|-----------------|------------|----------| -| $NANA | Captures revenues from the omnichain Juicebox v4's 2.5% fee. | Very soon | [nana.eth.sucks](https://nana.eth.sucks) | -| $BANNY | Captures revenues from Bannyverse mints. | Very soon | [banny.eth.sucks](https://banny.eth.sucks) | -| $NANCE | Builds the open-source Nance governance platform for tokenized communities. | Soon | [nance.app](https://nance.app) | -| $SUCKS | Captures memetic energy from the distribution of `.eth.sucks` websites. | Soon | [eth.sucks](https://eth.sucks) | -| $DEFIFA | Captures revenues from Defifa prediction games. | Soon | [defifa.net](https://defifa.net) | -| $CROPTOP | Collects a 2.5% fee on mints from Croptop sites. Croptop is a simple IPFS-based peer-to-peer website template with content feeds and revenue streams baked in. | Soon | [croptop.eth.sucks](https://croptop.eth.sucks) | -| $SPHINX | Builds the open-source multichain devops platform Sphinx. JuiceboxDAO uses Sphinx to manage contract deployments. | Soon | N/A | - --- ![image](https://github.com/user-attachments/assets/01ba051e-cb0d-4364-8539-76199512eed6) ## Part 2 – What are the terms -There are a few entities at play: +### Overview + +There are three entities at play: - **$REV:** The revnet. - **Revnet Reserch Group, LLC (RRG):** The split operator of the revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. -Before diving into each, it's first important to understand the how revnets works under the hood. +It is important to also mention Juicebox DAO ($JBX), a community that has been instrumental to the research and development of revnets. + +In summary, they have the following relationships: +- $REV's split is operated by RRG. +- RRG makes and markets tools that help make $REV more successful. +- RF1 mediates between dollar-based investments and positions in $REV and other renvet $TOKENs it believes in. +- Juicebox DAO makes, markets, and secures the Juicebox v4 protocol with which all revnets are expressed. +- Each revnet pays a 2.5% cash out fee to $NANA – the fee-token of Juicebox V4 broadly held by Juicebox DAO. +- $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. -### 2.1 Anatomy of a revnet | Advanced +This means a revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. -Each revnet stage specifies five rules which dictate everything about how it operates: +Understanding the specifics first requires elaborating on a revnet's anatomy. Revnets unfold in stages. Each stage specifies five rules that dictate everything about how the revnet operates: | **Rule** | **Description** | |---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | **Duration** | How long does the stage last? A revnet’s final stage lasts forever. | -| **Price** | **Starting price:** How much does it cost to buy a single token when the stage begins? The payment's value stays within the revnet and can only be accessed by token holders who cash out.
**Price increase:** How frequently, and by how much, does the token's price increase within the stage? | -| **Split** | What percentage of token issuance (and buybacks) are set aside for a list of recipients, and which address is the split operator? The split operator can add, remove, or modify recipients on that list, changing how the split is allocated within the fixed percentage set for the stage. | -| **Automint** | How many tokens get minted to a list of recipients at the start of the stage? This functions like a "pre-mint" only accessible once the stage has started. | -| **Cash out tax** | How much does the revnet's next potential cash out value increase each time a token holder cashes out? | +| **$TOKEN Price** | **Starting price:** How much does it cost to buy a single $TOKEN when the stage begins? The payment's value stays within the revnet and can only be accessed by $TOKEN holders who cash out.
**Price increase:** How frequently, and by how much, does the $TOKEN's price increase within the stage? | +| **Split** | What percentage of $TOKEN issuance (and buybacks) are set aside for a list of recipients, and which address is the split operator? The split operator can add, remove, or modify recipients on that list, changing how the split is allocated within the fixed percentage set for the stage. | +| **Automint** | How many $TOKENs get minted to a list of recipients at the start of the stage? This functions like a "pre-mint" only accessible once the stage has started. | +| **Cash out tax** | How much does the revnet's next potential cash out increase each time a $TOKEN holder cashes out? | It inherits some useful properties from Juicebox V4: -- **AMM Liquidity:** If token holders add liquidity to an [AMM](https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm) and it offers a better price than the revnet, the revnet will route incoming payments to that market instead of issuing new tokens. The revnet's split is applied to these buybacks as well. -- **Multicurrency:** A revnet can accept and hold any number of tokens, though it defines its price in one consistent currency. If it issues 1,000 tokens per ETH and the revnet is paid some USDC, tokens are issued given the current USDC/ETH price. The revnet can be set up to either hold the USDC received and allow its token holders to cash out from this balance, or auto-swap the USDC for an asset it prefers to hold. The network's tokens are backed by the tokens it chooses to hold, inheriting their risks and opportunities. -- **Omni-chain:** Revnets can grow to accept money on new [EVM-compatible networks](https://ethereum.org/en/developers/docs/evm/) as they emerge, and also offer cash outs on those networks. Holders can move their tokens between chains. When they do, the revnet automatically moves funds to back those tokens to maintain those tokens' value. +- **AMM Liquidity:** If $TOKEN holders add liquidity to an [AMM](https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm) and it offers a better price than the revnet, the revnet will route incoming payments to that market instead of issuing new $TOKENs. The revnet's split is applied to these buybacks as well. +- **Multicurrency:** A revnet can accept and hold any number of assets received as revenue, though it defines its $TOKEN price in one consistent currency. If it issues 1,000 $TOKENs per ETH and the revnet is paid some USDC, $TOKENs are issued given the current USDC/ETH price. The revnet can be set up to either hold the USDC received and allow its $TOKEN holders to cash out from this balance, or auto-swap the USDC for an asset it prefers to hold. The network's $TOKENs are backed by the assets it chooses to hold, inheriting their risks and opportunities. +- **Omni-chain:** Revnets can grow to accept money on new [EVM-compatible networks](https://ethereum.org/en/developers/docs/evm/) as they emerge, and also offer cash outs on those networks. Holders can move their $TOKENs between chains. When they do, the revnet automatically moves its assets so that the $TOKENs maintain their underlying value. Notice, revnets can be tuned to achieve various outcomes. They are not cheatcodes for entrepreneurs and investors lacking earnest real world insight, nor capital magnets for those expecting a free lunch. They still take strategy, risk, storytelling, and execution, amplifying those who follow through. @@ -347,7 +351,28 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ [^1]: Other recent examples: the gig economy, DAOs, and remote work. [^2]: [Uniswap](https://docs.uniswap.org/concepts/overview) raises funds and employs developers under the for-profit Uniswap Labs, but the Uniswap protocol is governed by $UNI token voting. The competing interests of token holders and Uniswap Labs have led to a number of controversial decisions over Uniswap's fee switch, source code licensing, and cross-chain deployments. Other projects have faced similar controversies when the interests of token holders and developers have diverged. +[^3] https://www.youtube.com/watch?v=D0ek2yv81Gk --- +![image](https://github.com/user-attachments/assets/01ba051e-cb0d-4364-8539-76199512eed6) + + +## Part 3 – Examples + +Here are some other revnets we're helping launch this next year: +| **Project** | **Description** | **Status** | **Link** | +|-------------|-----------------|------------|----------| +| $NANA | Captures revenues from the omnichain Juicebox v4's 2.5% fee. | Very soon | [nana.eth.sucks](https://nana.eth.sucks) | +| $BANNY | Captures revenues from Bannyverse mints. | Very soon | [banny.eth.sucks](https://banny.eth.sucks) | +| $NANCE | Builds the open-source Nance governance platform for tokenized communities. | Soon | [nance.app](https://nance.app) | +| $SUCKS | Captures memetic energy from the distribution of `.eth.sucks` websites. | Soon | [eth.sucks](https://eth.sucks) | +| $DEFIFA | Captures revenues from Defifa prediction games. | Soon | [defifa.net](https://defifa.net) | +| $CROPTOP | Collects a 2.5% fee on mints from Croptop sites. Croptop is a simple IPFS-based peer-to-peer website template with content feeds and revenue streams baked in. | Soon | [croptop.eth.sucks](https://croptop.eth.sucks) | +| $SPHINX | Builds the open-source multichain devops platform Sphinx. JuiceboxDAO uses Sphinx to manage contract deployments. | Soon | N/A | + +The specifics of how each revnet will be tuned is a work in progress. Below are some hypothetical scenarios: +-blah + +--- Ethereum is one of a kind. We have incredible respect and gratitude for the work of our peers that make our contributions possible. From 400f058c8fec16e885a3ab883ac670436459945d Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 17:17:09 -0300 Subject: [PATCH 10/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index fcb343f..cec37fe 100644 --- a/memo.md +++ b/memo.md @@ -94,7 +94,7 @@ Think of it as a digital vending machine: 2. Dispenses its unique tokens (henceforth $TOKENs) and optionally digital artifcats (NFTs) in return. 3. The only way to access the dollar bills the machine has earned is to give it its $TOKENs back. -The revnet enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: +Revnets enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: – **$TOKEN price:** There is always a price at which its willing to issue new $TOKENs, but it will forward inbound funds to an AMM offering a better rate than the issuance rate. This price can be set to change over time at a customizable rate. - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. - **Cash out price:** There is always a price at which its willing to distribute its revenue when it receives its $TOKENs back. Each cash out increases the value of the next cash out, by a customizable rate. From a6704c28ce26b4aaf11548c2d2ca90f32d08e2ec Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 17:22:40 -0300 Subject: [PATCH 11/71] Update memo.md --- memo.md | 25 +++++++++++++++---------- 1 file changed, 15 insertions(+), 10 deletions(-) diff --git a/memo.md b/memo.md index cec37fe..b83193e 100644 --- a/memo.md +++ b/memo.md @@ -12,20 +12,21 @@ - [1.5 Call to action](#call-to-action) - [1.6 Examples](#examples) 2. [Part 2 – What are the terms](#part-2--what-are-the-terms) - - [2.1 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) - - [2.2 $REV](#rev-1) + = [2.1 Overview](#overview) + - [2.2 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) + - [2.3 $REV](#rev-1) - [$REV stage 1](#rev-stage-1) - [$REV stage 2](#rev-stage-2) - [$REV stage 3](#rev-stage-3) - - [2.3 Revnet Research Group (RRG)](#revnet-research-group-rrg) + - [2.4 Revnet Research Group (RRG)](#revnet-research-group-rrg) - [RRG Mission](#rrg-mission) - [Bottom line](#bottom-line) - [Structure](#structure) - [Onchain management](#onchain-management) - [Offchain management](#offchain-management) - [Spend](#spend) - - [2.4 RF1](#rf1) - - [2.5 Investor FAQ](#investor-faq) + - [2.5 RF1](#rf1) + - [2.6 Investor FAQ](#investor-faq) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) @@ -156,7 +157,7 @@ We're calling on partners who believe in this revenue-forward version of the ope ## Part 2 – What are the terms -### Overview +### 2.1 Overview There are three entities at play: - **$REV:** The revnet. @@ -175,7 +176,11 @@ In summary, they have the following relationships: This means a revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. -Understanding the specifics first requires elaborating on a revnet's anatomy. Revnets unfold in stages. Each stage specifies five rules that dictate everything about how the revnet operates: +Understanding the specific terms of the plan first requires elaborating on a revnet's anatomy. + +### 2.2 Anatomy of a revnet | Advanced + +Revnets unfold in stages. Each stage specifies five rules that dictate everything about how the revnet operates: | **Rule** | **Description** | |---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| @@ -199,7 +204,7 @@ Each revnet should consider its own unique circumstances when navigating the fol There is no such thing as an apriori ideal tuning of a revnets rules, just as there was never an apriori perfect Bitcoin halvening timeframe or fixed supply number. A successful tuning is one that manages to convey the right incentives – either on purpose or on accident – to stimulate growth over time. -### 2.2 $REV +### 2.3 $REV RRG is setting up $REV's revnet rules in hopes of emphasizing the following principles: - **Simple:** Its rules should be easy to think about, with occasional important shifts that feel ceremonial. @@ -320,7 +325,7 @@ The marketing todos include: - create a trustworthy brand. - run a "This Ad is funded by a revnet" campaign, and other concepts. -### 2.4 RF1 +### 2.5 RF1 There will also be a Rev Fund 1, LLC, a Delaware-based private investment fund structured as a limited liability company. Its primary focus will be on investing in $REV projects, with an investment mandate managed by a registered investment advisor (RIA). The fund will target private investors who meet the standard accreditation and qualification criteria, complying with the 3(c)(1) exemption under the Investment Company Act. Capital will be raised through a private placement offering, with investors committing to specified minimum investment amounts. The RIA managing the fund will charge a 2% management fee, ensuring dedicated oversight and strategic investment in the $REV ecosystem. This fee structure aligns with industry standards, providing transparency and incentivizing effective fund management. @@ -328,7 +333,7 @@ There will also be a Rev Fund 1, LLC, a Delaware-based private investment fund s Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). -### 2.5 Investor FAQ +### 2.6 Investor FAQ #### Should I invest in RRG, $REV, or...? From 531d8cd0024faf20af9ed4036cd2f751ff9083a7 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 17:24:26 -0300 Subject: [PATCH 12/71] Update memo.md --- memo.md | 3 +-- 1 file changed, 1 insertion(+), 2 deletions(-) diff --git a/memo.md b/memo.md index b83193e..eee109a 100644 --- a/memo.md +++ b/memo.md @@ -173,8 +173,7 @@ In summary, they have the following relationships: - Juicebox DAO makes, markets, and secures the Juicebox v4 protocol with which all revnets are expressed. - Each revnet pays a 2.5% cash out fee to $NANA – the fee-token of Juicebox V4 broadly held by Juicebox DAO. - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - -This means a revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. +- The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. Understanding the specific terms of the plan first requires elaborating on a revnet's anatomy. From 2254441909c53fafb3536aee27c93bd26d468c9b Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 17:24:39 -0300 Subject: [PATCH 13/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index eee109a..a001f91 100644 --- a/memo.md +++ b/memo.md @@ -12,7 +12,7 @@ - [1.5 Call to action](#call-to-action) - [1.6 Examples](#examples) 2. [Part 2 – What are the terms](#part-2--what-are-the-terms) - = [2.1 Overview](#overview) + - [2.1 Overview](#overview) - [2.2 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) - [2.3 $REV](#rev-1) - [$REV stage 1](#rev-stage-1) From 5aa17014195f86373569eff42477a5351f0af18f Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 17:28:14 -0300 Subject: [PATCH 14/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index a001f91..d14455c 100644 --- a/memo.md +++ b/memo.md @@ -358,7 +358,7 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ [^3] https://www.youtube.com/watch?v=D0ek2yv81Gk --- -![image](https://github.com/user-attachments/assets/01ba051e-cb0d-4364-8539-76199512eed6) +![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) ## Part 3 – Examples From 49a3f8187dbc18c3d417d0be4d6a9adb4f5d86e7 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 17:35:19 -0300 Subject: [PATCH 15/71] Update memo.md --- memo.md | 6 +++--- 1 file changed, 3 insertions(+), 3 deletions(-) diff --git a/memo.md b/memo.md index d14455c..7d7a0be 100644 --- a/memo.md +++ b/memo.md @@ -1,7 +1,7 @@ # Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet **Add value => grow revenue => become wealthy together.** -> _This memo makes the case for revnets. It is delivered in 2 parts: the first part will quickly give context about the problem and how revnets are positioned to play a role in shaping the future. The second includes specifics of how you are invited to participate._ +> _This memo makes the case for revnets. It is delivered in 2 parts: the first part will quickly give context about the problem and how revnets are positioned to play a role in shaping the future, the second includes specifics of how you are invited to participate, and the third illustrates with examples, case studies, and simulations._ ## Contents 1. [Part 1 – What's the big deal](#part-1--whats-the-big-deal) @@ -41,7 +41,7 @@ Today's crypto and media networks have a business model problem, rooted in the t Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. -Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indy media, and cultural movements without governance risks or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. +Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indy media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. Join us – a group of active Web3 builders with vivid stories to prove it – in founding and growing the $REV network, which operates as a revenue-generating revnet itself. @@ -206,7 +206,7 @@ There is no such thing as an apriori ideal tuning of a revnets rules, just as th ### 2.3 $REV RRG is setting up $REV's revnet rules in hopes of emphasizing the following principles: -- **Simple:** Its rules should be easy to think about, with occasional important shifts that feel ceremonial. +- **Simple:** Its rules play out in 3 stages that should be easy to think about, with occasional important shifts that feel ceremonial. - **Self-owned growth:** It should make sure all participants who will sustain its growth – investors, builders, storytellers, fans, donors, fee-paying retail consumers – feel like it benefits them. - **Clear incentives, from startup to scale:** It should make both elders and newcomers feel like it acknowledges risks and contributions over time. - **Inefficient rent seeking:** It should have a reliable immunity instinct that efficiently protects and rewards productivity. From 6f540abe6cdaa974576c5c54cfc41dad4d573700 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 17:43:59 -0300 Subject: [PATCH 16/71] Update memo.md --- memo.md | 4 +++- 1 file changed, 3 insertions(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 7d7a0be..d51feb5 100644 --- a/memo.md +++ b/memo.md @@ -358,8 +358,8 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ [^3] https://www.youtube.com/watch?v=D0ek2yv81Gk --- -![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) +![image](https://github.com/user-attachments/assets/ac3db796-bdfc-4cb3-be41-78428ecbf586) ## Part 3 – Examples @@ -380,3 +380,5 @@ The specifics of how each revnet will be tuned is a work in progress. Below are --- Ethereum is one of a kind. We have incredible respect and gratitude for the work of our peers that make our contributions possible. + +![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) From 5443db44754a263cf84601440055595d9a9cf4df Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:11:27 -0300 Subject: [PATCH 17/71] Update memo.md --- memo.md | 16 +++++++++++++++- 1 file changed, 15 insertions(+), 1 deletion(-) diff --git a/memo.md b/memo.md index d51feb5..11b959f 100644 --- a/memo.md +++ b/memo.md @@ -14,11 +14,13 @@ 2. [Part 2 – What are the terms](#part-2--what-are-the-terms) - [2.1 Overview](#overview) - [2.2 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) + - [Tuning](#tuning) + - [Loans](#loans) - [2.3 $REV](#rev-1) - [$REV stage 1](#rev-stage-1) - [$REV stage 2](#rev-stage-2) - [$REV stage 3](#rev-stage-3) - - [2.4 Revnet Research Group (RRG)](#revnet-research-group-rrg) + - [2.4 RRG](#rrg) - [RRG Mission](#rrg-mission) - [Bottom line](#bottom-line) - [Structure](#structure) @@ -194,6 +196,8 @@ It inherits some useful properties from Juicebox V4: - **Multicurrency:** A revnet can accept and hold any number of assets received as revenue, though it defines its $TOKEN price in one consistent currency. If it issues 1,000 $TOKENs per ETH and the revnet is paid some USDC, $TOKENs are issued given the current USDC/ETH price. The revnet can be set up to either hold the USDC received and allow its $TOKEN holders to cash out from this balance, or auto-swap the USDC for an asset it prefers to hold. The network's $TOKENs are backed by the assets it chooses to hold, inheriting their risks and opportunities. - **Omni-chain:** Revnets can grow to accept money on new [EVM-compatible networks](https://ethereum.org/en/developers/docs/evm/) as they emerge, and also offer cash outs on those networks. Holders can move their $TOKENs between chains. When they do, the revnet automatically moves its assets so that the $TOKENs maintain their underlying value. +#### Tuning + Notice, revnets can be tuned to achieve various outcomes. They are not cheatcodes for entrepreneurs and investors lacking earnest real world insight, nor capital magnets for those expecting a free lunch. They still take strategy, risk, storytelling, and execution, amplifying those who follow through. Each revnet should consider its own unique circumstances when navigating the following tuning decisions: @@ -203,6 +207,16 @@ Each revnet should consider its own unique circumstances when navigating the fol There is no such thing as an apriori ideal tuning of a revnets rules, just as there was never an apriori perfect Bitcoin halvening timeframe or fixed supply number. A successful tuning is one that manages to convey the right incentives – either on purpose or on accident – to stimulate growth over time. +#### Loans + +A revnet can be set to offes its $TOKEN holders loans from its asset base by holding the $TOKENs of the borrower as collateral. This allows for overcollateralized loans at a risk-free rate while also generating revenue, a win-win from the perspective of the revnet's $TOKEN cash out price. + +This means $TOKEN holders are incentivized to prefer that their revnet loans out as much as possible, as each new loan permanently increases the cash out value of all $TOKENs. Every $TOKEN holder has equal access to loans at all times. + +Loans can last a maximum of 10 years. A borrower can choose to pay over time at a rate that linearly increases as the loan duration approaches 10 years, choose to pre-pay for the loan at half the cost, or mixed – prepay for some duration and continue on paying full price if its still not paid off. This revenue goes to the revnet itself, issuing or buying back more $TOKENs for the borrower. + +Loans from all revnets also incur a 2.5% $NANA fee and a 2.5% $REV fee, in addition to this fee charged to the revnet being borrowed from. + ### 2.3 $REV RRG is setting up $REV's revnet rules in hopes of emphasizing the following principles: From f2e6d200a537e5937790ea832080089467570207 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:13:26 -0300 Subject: [PATCH 18/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 11b959f..b3dab05 100644 --- a/memo.md +++ b/memo.md @@ -172,7 +172,7 @@ In summary, they have the following relationships: - $REV's split is operated by RRG. - RRG makes and markets tools that help make $REV more successful. - RF1 mediates between dollar-based investments and positions in $REV and other renvet $TOKENs it believes in. -- Juicebox DAO makes, markets, and secures the Juicebox v4 protocol with which all revnets are expressed. +- Juicebox DAO makes, secures, and markets the Juicebox v4 protocol with which all revnets are expressed. - Each revnet pays a 2.5% cash out fee to $NANA – the fee-token of Juicebox V4 broadly held by Juicebox DAO. - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. From fdce7137f4bca1f0d111b40f22284b1d6b7645da Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:16:04 -0300 Subject: [PATCH 19/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index b3dab05..55367cd 100644 --- a/memo.md +++ b/memo.md @@ -1,7 +1,7 @@ # Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet **Add value => grow revenue => become wealthy together.** -> _This memo makes the case for revnets. It is delivered in 2 parts: the first part will quickly give context about the problem and how revnets are positioned to play a role in shaping the future, the second includes specifics of how you are invited to participate, and the third illustrates with examples, case studies, and simulations._ +> _This memo makes the case for revnets. It is delivered in 3 parts: the first part will quickly give context about the problem and how revnets are positioned to play a role in shaping the future, the second includes specifics of how you are invited to participate, and the third illustrates with examples, case studies, and simulations._ ## Contents 1. [Part 1 – What's the big deal](#part-1--whats-the-big-deal) From b5af537e95ca1ecba87e0663524e3f684dc81dac Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:17:00 -0300 Subject: [PATCH 20/71] Update memo.md --- memo.md | 5 ++++- 1 file changed, 4 insertions(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 55367cd..7cd3c6d 100644 --- a/memo.md +++ b/memo.md @@ -1,7 +1,10 @@ # Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet **Add value => grow revenue => become wealthy together.** -> _This memo makes the case for revnets. It is delivered in 3 parts: the first part will quickly give context about the problem and how revnets are positioned to play a role in shaping the future, the second includes specifics of how you are invited to participate, and the third illustrates with examples, case studies, and simulations._ +> _This memo makes the case for revnets. It is delivered in 3 parts: +> 1. Provides context about the problem and how revnets are positioned to play a role in shaping the future. +> 2. Includes specifics of how you are invited to participate. +> 3. Illustrates with examples, case studies, and simulations._ ## Contents 1. [Part 1 – What's the big deal](#part-1--whats-the-big-deal) From cfcdee425858382576632fdd77e5f2f0603978af Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:17:13 -0300 Subject: [PATCH 21/71] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 7cd3c6d..d6a1b44 100644 --- a/memo.md +++ b/memo.md @@ -1,10 +1,10 @@ # Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet **Add value => grow revenue => become wealthy together.** -> _This memo makes the case for revnets. It is delivered in 3 parts: +> This memo makes the case for revnets. It is delivered in 3 parts: > 1. Provides context about the problem and how revnets are positioned to play a role in shaping the future. > 2. Includes specifics of how you are invited to participate. -> 3. Illustrates with examples, case studies, and simulations._ +> 3. Illustrates with examples, case studies, and simulations. ## Contents 1. [Part 1 – What's the big deal](#part-1--whats-the-big-deal) From 68c59c457abff978cac6c9261e2041a5c6f7935c Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:17:54 -0300 Subject: [PATCH 22/71] Update memo.md --- memo.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index d6a1b44..5afa12f 100644 --- a/memo.md +++ b/memo.md @@ -1,10 +1,10 @@ # Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet **Add value => grow revenue => become wealthy together.** -> This memo makes the case for revnets. It is delivered in 3 parts: -> 1. Provides context about the problem and how revnets are positioned to play a role in shaping the future. -> 2. Includes specifics of how you are invited to participate. -> 3. Illustrates with examples, case studies, and simulations. +This memo makes the case for revnets. It is delivered in 3 parts: +1. Provides context about the problem and how revnets are positioned to play a role in shaping the future. +2. Includes specifics of how you are invited to participate. +3. Illustrates with examples, case studies, and simulations. ## Contents 1. [Part 1 – What's the big deal](#part-1--whats-the-big-deal) From dadd7c62b908fd5a429165fef33be671e9b99adc Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:19:00 -0300 Subject: [PATCH 23/71] Update memo.md --- memo.md | 6 +++--- 1 file changed, 3 insertions(+), 3 deletions(-) diff --git a/memo.md b/memo.md index 5afa12f..d34faa5 100644 --- a/memo.md +++ b/memo.md @@ -2,9 +2,9 @@ **Add value => grow revenue => become wealthy together.** This memo makes the case for revnets. It is delivered in 3 parts: -1. Provides context about the problem and how revnets are positioned to play a role in shaping the future. -2. Includes specifics of how you are invited to participate. -3. Illustrates with examples, case studies, and simulations. +1. **What's the big deal:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. +2. **What are the terms:** Includes specifics of how you are invited to participate. +3. **Examples:** Illustrates with examples, case studies, and simulations. ## Contents 1. [Part 1 – What's the big deal](#part-1--whats-the-big-deal) From b290601d0e5c08c1d02521ab98436236d8320219 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:19:31 -0300 Subject: [PATCH 24/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index d34faa5..3ffdc09 100644 --- a/memo.md +++ b/memo.md @@ -4,7 +4,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: 1. **What's the big deal:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. 2. **What are the terms:** Includes specifics of how you are invited to participate. -3. **Examples:** Illustrates with examples, case studies, and simulations. +3. **Examples:** Illustrates the opportunity with case studies and simulations. ## Contents 1. [Part 1 – What's the big deal](#part-1--whats-the-big-deal) From a07be2e06b7dd0ae91310414626ee53d219eddc9 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:20:21 -0300 Subject: [PATCH 25/71] Update memo.md --- memo.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index 3ffdc09..840c1af 100644 --- a/memo.md +++ b/memo.md @@ -2,19 +2,19 @@ **Add value => grow revenue => become wealthy together.** This memo makes the case for revnets. It is delivered in 3 parts: -1. **What's the big deal:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. -2. **What are the terms:** Includes specifics of how you are invited to participate. +1. **The big deal:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. +2. **The terms:** Includes specifics of how you are invited to participate. 3. **Examples:** Illustrates the opportunity with case studies and simulations. ## Contents -1. [Part 1 – What's the big deal](#part-1--whats-the-big-deal) +1. [Part 1 – The big deal](#part-1--the-big-deal) - [1.1 TLDR](#tldr) - [1.2 Overview](#overview) - [1.3 Anatomy of a revnet | Introduction](#anatomy-of-a-revnet-intro) - [1.4 Why now? Why us?](#why-now-why-us) - [1.5 Call to action](#call-to-action) - [1.6 Examples](#examples) -2. [Part 2 – What are the terms](#part-2--what-are-the-terms) +2. [Part 2 – The terms](#part-2--the-terms) - [2.1 Overview](#overview) - [2.2 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) - [Tuning](#tuning) From 3276f43b3234c2b7836fec37427d969cc67d5b95 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:23:11 -0300 Subject: [PATCH 26/71] Update memo.md --- memo.md | 10 +++++----- 1 file changed, 5 insertions(+), 5 deletions(-) diff --git a/memo.md b/memo.md index 840c1af..d802b1e 100644 --- a/memo.md +++ b/memo.md @@ -2,19 +2,19 @@ **Add value => grow revenue => become wealthy together.** This memo makes the case for revnets. It is delivered in 3 parts: -1. **The big deal:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. -2. **The terms:** Includes specifics of how you are invited to participate. -3. **Examples:** Illustrates the opportunity with case studies and simulations. +1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. +2. **What are the terms?:** Includes specifics of how you are invited to participate. +3. **How does it feel?:** Illustrates the opportunity with examples, case studies, and simulations. ## Contents -1. [Part 1 – The big deal](#part-1--the-big-deal) +1. [Part 1 – What's the big deal?](#part-1--the-big-deal) - [1.1 TLDR](#tldr) - [1.2 Overview](#overview) - [1.3 Anatomy of a revnet | Introduction](#anatomy-of-a-revnet-intro) - [1.4 Why now? Why us?](#why-now-why-us) - [1.5 Call to action](#call-to-action) - [1.6 Examples](#examples) -2. [Part 2 – The terms](#part-2--the-terms) +2. [Part 2 – What are the terms?](#part-2--the-terms) - [2.1 Overview](#overview) - [2.2 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) - [Tuning](#tuning) From 60b878946796dbc77c01beaf8ce3854061352512 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:26:11 -0300 Subject: [PATCH 27/71] Update memo.md --- memo.md | 6 ++---- 1 file changed, 2 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index d802b1e..70c23a8 100644 --- a/memo.md +++ b/memo.md @@ -81,7 +81,7 @@ We think revnets might be it: A win-win-win growth engine for investors, builder Revnets resolve the three dilemmas above by creating openly accounted-for financial networks with clearly bounded risks that reliably benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. -Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, 'the next generation for markets, the next generation for securities, will be tokenization of securities.' We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, compensation, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. +Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, "the next generation for markets, the next generation for securities, will be tokenization of securities."[^1] We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, compensation, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. We're deploying a $REV revnet that'll capture 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for ten other spectacular projects we've been working with, demonstrating how revnets are: @@ -370,9 +370,7 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ **Immutability risk**: Though a revnet's immutability is its core value proposition, some might also view this as a risk. A revnet is impossible to course correct once deployed and legitimacy has been established. Mainly, the $REV specification that determines issuance policy could turn out to not motivate activity as much as intended. A perfect revnet configuration is hard to know ahead of time, and there aren't many levers that expose control within its ruleset – like bitcoin, the hardcoded rules can only teleologically be deemed productive if the network proves itself in competition with forked alternatives. The two variables that do offer control and flexibility within the $REV revnet specs are the 38% split that rrg.eth will operate, and the autominted tokens. RRG can play a part in reorienting priorities using the split in order to stimulate some desired behavior, and can reasonably expect the autominted token holders to act in the best interest of the network's growth. -[^1]: Other recent examples: the gig economy, DAOs, and remote work. -[^2]: [Uniswap](https://docs.uniswap.org/concepts/overview) raises funds and employs developers under the for-profit Uniswap Labs, but the Uniswap protocol is governed by $UNI token voting. The competing interests of token holders and Uniswap Labs have led to a number of controversial decisions over Uniswap's fee switch, source code licensing, and cross-chain deployments. Other projects have faced similar controversies when the interests of token holders and developers have diverged. -[^3] https://www.youtube.com/watch?v=D0ek2yv81Gk +[^1] https://www.youtube.com/watch?v=D0ek2yv81Gk --- From 62c306cdf4e2d33698b8461d910ae8bf1c4cd2e7 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:27:29 -0300 Subject: [PATCH 28/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 70c23a8..da06a36 100644 --- a/memo.md +++ b/memo.md @@ -370,7 +370,7 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ **Immutability risk**: Though a revnet's immutability is its core value proposition, some might also view this as a risk. A revnet is impossible to course correct once deployed and legitimacy has been established. Mainly, the $REV specification that determines issuance policy could turn out to not motivate activity as much as intended. A perfect revnet configuration is hard to know ahead of time, and there aren't many levers that expose control within its ruleset – like bitcoin, the hardcoded rules can only teleologically be deemed productive if the network proves itself in competition with forked alternatives. The two variables that do offer control and flexibility within the $REV revnet specs are the 38% split that rrg.eth will operate, and the autominted tokens. RRG can play a part in reorienting priorities using the split in order to stimulate some desired behavior, and can reasonably expect the autominted token holders to act in the best interest of the network's growth. -[^1] https://www.youtube.com/watch?v=D0ek2yv81Gk +[^1]: https://www.youtube.com/watch?v=D0ek2yv81Gk --- From 600911611e4ee0b2b7cc524a7df41e22a216260f Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:29:49 -0300 Subject: [PATCH 29/71] Update memo.md --- memo.md | 9 ++++++--- 1 file changed, 6 insertions(+), 3 deletions(-) diff --git a/memo.md b/memo.md index da06a36..45e28c8 100644 --- a/memo.md +++ b/memo.md @@ -195,9 +195,9 @@ Revnets unfold in stages. Each stage specifies five rules that dictate everythin | **Cash out tax** | How much does the revnet's next potential cash out increase each time a $TOKEN holder cashes out? | It inherits some useful properties from Juicebox V4: -- **AMM Liquidity:** If $TOKEN holders add liquidity to an [AMM](https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm) and it offers a better price than the revnet, the revnet will route incoming payments to that market instead of issuing new $TOKENs. The revnet's split is applied to these buybacks as well. +- **AMM Liquidity:** If $TOKEN holders add liquidity to an AMM[^2]and it offers a better price than the revnet, the revnet will route incoming payments to that market instead of issuing new $TOKENs. The revnet's split is applied to these buybacks as well. - **Multicurrency:** A revnet can accept and hold any number of assets received as revenue, though it defines its $TOKEN price in one consistent currency. If it issues 1,000 $TOKENs per ETH and the revnet is paid some USDC, $TOKENs are issued given the current USDC/ETH price. The revnet can be set up to either hold the USDC received and allow its $TOKEN holders to cash out from this balance, or auto-swap the USDC for an asset it prefers to hold. The network's $TOKENs are backed by the assets it chooses to hold, inheriting their risks and opportunities. -- **Omni-chain:** Revnets can grow to accept money on new [EVM-compatible networks](https://ethereum.org/en/developers/docs/evm/) as they emerge, and also offer cash outs on those networks. Holders can move their $TOKENs between chains. When they do, the revnet automatically moves its assets so that the $TOKENs maintain their underlying value. +- **Omni-chain:** Revnets can grow to accept money on new EVM-compatible networks[^3] as they emerge, and also offer cash outs on those networks. Holders can move their $TOKENs between chains. When they do, the revnet automatically moves its assets so that the $TOKENs maintain their underlying value. #### Tuning @@ -370,7 +370,6 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ **Immutability risk**: Though a revnet's immutability is its core value proposition, some might also view this as a risk. A revnet is impossible to course correct once deployed and legitimacy has been established. Mainly, the $REV specification that determines issuance policy could turn out to not motivate activity as much as intended. A perfect revnet configuration is hard to know ahead of time, and there aren't many levers that expose control within its ruleset – like bitcoin, the hardcoded rules can only teleologically be deemed productive if the network proves itself in competition with forked alternatives. The two variables that do offer control and flexibility within the $REV revnet specs are the 38% split that rrg.eth will operate, and the autominted tokens. RRG can play a part in reorienting priorities using the split in order to stimulate some desired behavior, and can reasonably expect the autominted token holders to act in the best interest of the network's growth. -[^1]: https://www.youtube.com/watch?v=D0ek2yv81Gk --- @@ -397,3 +396,7 @@ The specifics of how each revnet will be tuned is a work in progress. Below are Ethereum is one of a kind. We have incredible respect and gratitude for the work of our peers that make our contributions possible. ![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) + +[^1]: https://www.youtube.com/watch?v=D0ek2yv81Gk +[^2]: https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm +[^3]: https://ethereum.org/en/developers/docs/evm/ From 750dc4b25e43937d08df0271e9cc2228879efb76 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:39:30 -0300 Subject: [PATCH 30/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 45e28c8..0a73777 100644 --- a/memo.md +++ b/memo.md @@ -173,7 +173,7 @@ It is important to also mention Juicebox DAO ($JBX), a community that has been i In summary, they have the following relationships: - $REV's split is operated by RRG. -- RRG makes and markets tools that help make $REV more successful. +- RRG makes, secures, and markets tools that help make $REV more successful. - RF1 mediates between dollar-based investments and positions in $REV and other renvet $TOKENs it believes in. - Juicebox DAO makes, secures, and markets the Juicebox v4 protocol with which all revnets are expressed. - Each revnet pays a 2.5% cash out fee to $NANA – the fee-token of Juicebox V4 broadly held by Juicebox DAO. From daff5d8c06515064b2dbdf2ba144d0f4a7f29cec Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 2 Aug 2024 18:42:49 -0300 Subject: [PATCH 31/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 0a73777..f94d19e 100644 --- a/memo.md +++ b/memo.md @@ -174,7 +174,7 @@ It is important to also mention Juicebox DAO ($JBX), a community that has been i In summary, they have the following relationships: - $REV's split is operated by RRG. - RRG makes, secures, and markets tools that help make $REV more successful. -- RF1 mediates between dollar-based investments and positions in $REV and other renvet $TOKENs it believes in. +- RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other renvet $TOKENs it believes in. - Juicebox DAO makes, secures, and markets the Juicebox v4 protocol with which all revnets are expressed. - Each revnet pays a 2.5% cash out fee to $NANA – the fee-token of Juicebox V4 broadly held by Juicebox DAO. - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. From aec7598b25a920b67fbc801208d4091b8f009b11 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 3 Aug 2024 15:46:34 -0300 Subject: [PATCH 32/71] Update memo.md --- memo.md | 25 +++++++++++++------------ 1 file changed, 13 insertions(+), 12 deletions(-) diff --git a/memo.md b/memo.md index f94d19e..de3f346 100644 --- a/memo.md +++ b/memo.md @@ -4,17 +4,17 @@ This memo makes the case for revnets. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. 2. **What are the terms?:** Includes specifics of how you are invited to participate. -3. **How does it feel?:** Illustrates the opportunity with examples, case studies, and simulations. +3. **What does it look like?:** Illustrates the opportunity with examples, case studies, and simulations. ## Contents -1. [Part 1 – What's the big deal?](#part-1--the-big-deal) +1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) - [1.1 TLDR](#tldr) - [1.2 Overview](#overview) - [1.3 Anatomy of a revnet | Introduction](#anatomy-of-a-revnet-intro) - [1.4 Why now? Why us?](#why-now-why-us) - [1.5 Call to action](#call-to-action) - [1.6 Examples](#examples) -2. [Part 2 – What are the terms?](#part-2--the-terms) +2. [Part 2 – What are the terms?](#part-2--what-are-the-terms) - [2.1 Overview](#overview) - [2.2 Anatomy of a revnet | Advanced](#anatomy-of-a-revnet-advanced) - [Tuning](#tuning) @@ -23,6 +23,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: - [$REV stage 1](#rev-stage-1) - [$REV stage 2](#rev-stage-2) - [$REV stage 3](#rev-stage-3) + - [Accessibility](#accessibility) - [2.4 RRG](#rrg) - [RRG Mission](#rrg-mission) - [Bottom line](#bottom-line) @@ -34,7 +35,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: - [2.6 Investor FAQ](#investor-faq) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) - + - [Part 3 – What does it look like?](#part3--what-does-it-look-like) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) @@ -46,7 +47,7 @@ Today's crypto and media networks have a business model problem, rooted in the t Revnets offer a promising solution, as a hands-free all-in-one tokenized incentive machine, cap table, and growth engine for leaders, workers, investors, and yesterday's customers that helped make today possible, while removing common causes of disputes between them. -Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indy media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. +Revnets are an openly accounted-for standard that can motivate the funding and distribution of business offerings, open source projects, campaigns, indie media, and cultural movements without governance risks, liquidity requirements, or management overhead. Simple enough for a group of friends, powerful enough for high net-worth, global communities, products, and brands. Join us – a group of active Web3 builders with vivid stories to prove it – in founding and growing the $REV network, which operates as a revenue-generating revnet itself. @@ -85,9 +86,9 @@ Importantly, revnets aren't just an esoteric tool for obscure internet subcultur We're deploying a $REV revnet that'll capture 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for ten other spectacular projects we've been working with, demonstrating how revnets are: -- **Versitile:** This simple financial instrument has the power to support diverse applications. +- **Versatile:** This simple financial instrument has the power to support diverse applications. - **Standardized:** They create a familiar business interaction standard, leading to a positive feedback loop for all revnet-based projects. -- **Interoperable:** They have the ability to relate financial outcomes between each other, encouraging more collaboration within a competative business landscape. +- **Interoperable:** They have the ability to relate financial outcomes between each other, encouraging more collaboration within a competitive business landscape. Projects will choose a revnet business structure when they prefer their outcome to be oriented towards maximizing the network's self-propagation while minimizing the potential of any party with privileged access and exploitable liabilites. They'll understand their work to have value while also understanding a network's preference to work for itself once instigated, like Bitcoin and Ethereum. @@ -97,7 +98,7 @@ Think of revnets like a spicy Bitcoin halvening rule. Similar to Bitcoin, revnet Think of it as a digital vending machine: 1. Receives dollar bills from a business's raised funds and future revenues. -2. Dispenses its unique tokens (henceforth $TOKENs) and optionally digital artifcats (NFTs) in return. +2. Dispenses its unique tokens (henceforth $TOKENs) and optionally digital artifacts (NFTs) in return. 3. The only way to access the dollar bills the machine has earned is to give it its $TOKENs back. Revnets enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: @@ -135,7 +136,7 @@ Revnets also inherit the best properties of Ethereum: As a result of its properties, a revnet's $TOKENs are reliably backed by the underlying value of the revenue used to issue them. This makes $TOKENs great collateral for loans, which each revnet also offers, for a fee paid into itself. -Part 2 of this memo digs in deeper, and discusses how we are tuning the $REV revnet for deployment. Part 3 follows with case studies and hypothetical scenarios. +Part 2 of this memo digs in deeper, and discusses how we are tuning the $REV revnet for deployment. Part 3 follows with examples, case studies, and hypothetical scenarios. ### 1.4 Why now? Why us? @@ -166,7 +167,7 @@ We're calling on partners who believe in this revenue-forward version of the ope There are three entities at play: - **$REV:** The revnet. -- **Revnet Reserch Group, LLC (RRG):** The split operator of the revnet to start. +- **Revnet Research Group, LLC (RRG):** The split operator of the revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. It is important to also mention Juicebox DAO ($JBX), a community that has been instrumental to the research and development of revnets. @@ -212,7 +213,7 @@ There is no such thing as an apriori ideal tuning of a revnets rules, just as th #### Loans -A revnet can be set to offes its $TOKEN holders loans from its asset base by holding the $TOKENs of the borrower as collateral. This allows for overcollateralized loans at a risk-free rate while also generating revenue, a win-win from the perspective of the revnet's $TOKEN cash out price. +A revnet can be set to offer its $TOKEN holders loans from its asset base by holding the $TOKENs of the borrower as collateral. This allows for overcollateralized loans at a risk-free rate while also generating revenue, a win-win from the perspective of the revnet's $TOKEN cash out price. This means $TOKEN holders are incentivized to prefer that their revnet loans out as much as possible, as each new loan permanently increases the cash out value of all $TOKENs. Every $TOKEN holder has equal access to loans at all times. @@ -271,7 +272,7 @@ _No more issuance. 10% of issuance and buybacks to Revnet Research Group. Cashin > Prospectively, the 10% split will always be burnt. -#### Accessiblity +#### Accessibility Anyone can pay into $REV at any time. It also is hardwired to receive a 2.5% network fee whenever someone cashes out from any revnet – thousands of digital vending machines plugged into the $REV vending machine. Both one-off payments and fees are treated the same and used to either issue new $REV from its revnet or buyback $REV from the market, depending on which is a better deal. From a86fb777e0a6a4b3a77a1d2174aff1c7bdb8b173 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 3 Aug 2024 15:47:13 -0300 Subject: [PATCH 33/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index de3f346..6b3c5d7 100644 --- a/memo.md +++ b/memo.md @@ -35,7 +35,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: - [2.6 Investor FAQ](#investor-faq) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) - - [Part 3 – What does it look like?](#part3--what-does-it-look-like) +3. [Part 3 – What does it look like?](#part3--what-does-it-look-like) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) From 17ea9126cf0d90fc61840d2bd730f14056e41fdb Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Mon, 5 Aug 2024 21:50:12 -0300 Subject: [PATCH 34/71] Update memo.md --- memo.md | 86 +++++++++++++++++++++++++++++++++++++++++++++++++++++++-- 1 file changed, 84 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 6b3c5d7..8d965e2 100644 --- a/memo.md +++ b/memo.md @@ -36,6 +36,12 @@ This memo makes the case for revnets. It is delivered in 3 parts: - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) 3. [Part 3 – What does it look like?](#part3--what-does-it-look-like) + - [3.1 Overview](#overview) + - [3.2 Hypotheticals](#hypotheticals) + - [Simple](#simple) + - [Creative](#creative) + - [3.3 Case studies](#case-studies) + - [3.4 Real world examples](#real-world-examples) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) @@ -117,7 +123,7 @@ Revnets enforces three main customizable rules that can be preset to change over Screenshot_2024-01-21_at_17 58 43

- + This means revnets are: - **Governance-free**: Governance inefficiencies and takeovers of funds are impossible. @@ -211,6 +217,17 @@ Each revnet should consider its own unique circumstances when navigating the fol There is no such thing as an apriori ideal tuning of a revnets rules, just as there was never an apriori perfect Bitcoin halvening timeframe or fixed supply number. A successful tuning is one that manages to convey the right incentives – either on purpose or on accident – to stimulate growth over time. +A few effects to specifically note: + +1. The scheduled $TOKEN price increases can cause exponential decay in issuance potential: +image + +2. A cash out tax (`r`) effects the available reclaimable amount from the revnet at any given time on a curve depending only on outstanding token supply and total funds in the revnet (`reclaimable amount = cashed out $TOKEN amount * revnet balance / total $TOKEN supply * (r + cashed out $TOKEN amount * (1-r) / total $TOKEN supply`): +image + +3. The $TOKEN price and the cash out price together form a price ceiling and a price floor that an AMM can service between: +image + #### Loans A revnet can be set to offer its $TOKEN holders loans from its asset base by holding the $TOKENs of the borrower as collateral. This allows for overcollateralized loans at a risk-free rate while also generating revenue, a win-win from the perspective of the revnet's $TOKEN cash out price. @@ -376,7 +393,72 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ ![image](https://github.com/user-attachments/assets/ac3db796-bdfc-4cb3-be41-78428ecbf586) -## Part 3 – Examples +## Part 3 – What does it look like? + +### Overview + +### Hypotheticals + +A revnet can be simple, or have dynamism: + +#### Single stage + +Imagine a Automated Market Maker named Shwap, built by Shwap DAO, that charges a 0.3% fee on trades to a $SHWAP revnet: + +There's only one stage, with slightly increasing prices for new tokens to reward earlier fee payers. + +**Duration:** forever. +**$SHWAP price:** 0.001 ETH per $SHWAP, increasing 5% every month. +**Split:** 50% of $SHWAP issuance and buybacks, operated by a Shwap DAO. +**Cash out tax:** medium (0.5), prefering those who cash out later. + +As fees come in, fee payers receive $SHWAP that gives them access to either: +- a small rebate from immediately cashing out. +- a loan from the revnet in exchange for $SCHWAP that is forfeited if the loan is not paid back. +- an option to cash out later, meanwhile benefitting from the network's growth, risk-free. + +Shwap DAO can use its $SCHWAP balance similarly, either: +- storing its $SHWAP as a balance sheet asset. +- distributing its $SHWAP to pay for work. +- borrowing against its $SCHWAP to pay for work or make other investments. + +#### Multi stage + +Imagine an AI imaging startup named Bot LLC that charges 0.001 ETH for 200 queries to a $BOT revnet: + +The first stage is done pre-product and meant to raise funds non-commitally for 90 days; refunds are available anytime during the stage: + +**Duration:** 90 days. +**$BOT price:** 0.001 ETH per $BOT. +**Split:** 0%. +**Cash out tax:** none (0), allowing full refunds. + +The second stage automints $BOT to the team, valuing their pre-product work at 50 ETH. No additional payments are allowed for a year: + +**Duration:** 1 year. +**$BOT price:** 0. +**Split:** 0%. +**Automint:** 50,000 $BOT to Bot LLC. +**Cash out tax:** low (0.2), slightly prefering those who cash out later. + +The third and stage resumes $BOT issuance at a much more expensive cost, using it to allow new investors and rewarding those contributing to revenue: + +**Duration:** forever. +**$BOT price:** 0.1 ETH per $BOT, decreasing 10% every 3 months. +**Split:** 20% of $SHWAP issuance and buybacks, operated by a Bot LLC. +**Cash out tax:** low (0.2), slightly prefering those who cash out later. + +### Edge cases + +#### Low a activity + + + +#### Fork + + + +### Real world examples Here are some other revnets we're helping launch this next year: From e8b2c3116aa0c1aa6d25e6928bd03221997f1d84 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Thu, 8 Aug 2024 13:23:12 -0300 Subject: [PATCH 35/71] Update memo.md --- memo.md | 74 ++++----------------------------------------------------- 1 file changed, 4 insertions(+), 70 deletions(-) diff --git a/memo.md b/memo.md index 8d965e2..16cdf72 100644 --- a/memo.md +++ b/memo.md @@ -36,11 +36,6 @@ This memo makes the case for revnets. It is delivered in 3 parts: - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) 3. [Part 3 – What does it look like?](#part3--what-does-it-look-like) - - [3.1 Overview](#overview) - - [3.2 Hypotheticals](#hypotheticals) - - [Simple](#simple) - - [Creative](#creative) - - [3.3 Case studies](#case-studies) - [3.4 Real world examples](#real-world-examples) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) @@ -236,7 +231,7 @@ This means $TOKEN holders are incentivized to prefer that their revnet loans out Loans can last a maximum of 10 years. A borrower can choose to pay over time at a rate that linearly increases as the loan duration approaches 10 years, choose to pre-pay for the loan at half the cost, or mixed – prepay for some duration and continue on paying full price if its still not paid off. This revenue goes to the revnet itself, issuing or buying back more $TOKENs for the borrower. -Loans from all revnets also incur a 2.5% $NANA fee and a 2.5% $REV fee, in addition to this fee charged to the revnet being borrowed from. +Loans from all revnets also incur a 2.5% $NANA fee and a 0.5% $REV fee, in addition to this fee charged to the revnet being borrowed from. ### 2.3 $REV @@ -363,6 +358,7 @@ The marketing todos include: There will also be a Rev Fund 1, LLC, a Delaware-based private investment fund structured as a limited liability company. Its primary focus will be on investing in $REV projects, with an investment mandate managed by a registered investment advisor (RIA). The fund will target private investors who meet the standard accreditation and qualification criteria, complying with the 3(c)(1) exemption under the Investment Company Act. Capital will be raised through a private placement offering, with investors committing to specified minimum investment amounts. The RIA managing the fund will charge a 2% management fee, ensuring dedicated oversight and strategic investment in the $REV ecosystem. This fee structure aligns with industry standards, providing transparency and incentivizing effective fund management. +More about RF1 soon. Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). @@ -395,69 +391,6 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ ## Part 3 – What does it look like? -### Overview - -### Hypotheticals - -A revnet can be simple, or have dynamism: - -#### Single stage - -Imagine a Automated Market Maker named Shwap, built by Shwap DAO, that charges a 0.3% fee on trades to a $SHWAP revnet: - -There's only one stage, with slightly increasing prices for new tokens to reward earlier fee payers. - -**Duration:** forever. -**$SHWAP price:** 0.001 ETH per $SHWAP, increasing 5% every month. -**Split:** 50% of $SHWAP issuance and buybacks, operated by a Shwap DAO. -**Cash out tax:** medium (0.5), prefering those who cash out later. - -As fees come in, fee payers receive $SHWAP that gives them access to either: -- a small rebate from immediately cashing out. -- a loan from the revnet in exchange for $SCHWAP that is forfeited if the loan is not paid back. -- an option to cash out later, meanwhile benefitting from the network's growth, risk-free. - -Shwap DAO can use its $SCHWAP balance similarly, either: -- storing its $SHWAP as a balance sheet asset. -- distributing its $SHWAP to pay for work. -- borrowing against its $SCHWAP to pay for work or make other investments. - -#### Multi stage - -Imagine an AI imaging startup named Bot LLC that charges 0.001 ETH for 200 queries to a $BOT revnet: - -The first stage is done pre-product and meant to raise funds non-commitally for 90 days; refunds are available anytime during the stage: - -**Duration:** 90 days. -**$BOT price:** 0.001 ETH per $BOT. -**Split:** 0%. -**Cash out tax:** none (0), allowing full refunds. - -The second stage automints $BOT to the team, valuing their pre-product work at 50 ETH. No additional payments are allowed for a year: - -**Duration:** 1 year. -**$BOT price:** 0. -**Split:** 0%. -**Automint:** 50,000 $BOT to Bot LLC. -**Cash out tax:** low (0.2), slightly prefering those who cash out later. - -The third and stage resumes $BOT issuance at a much more expensive cost, using it to allow new investors and rewarding those contributing to revenue: - -**Duration:** forever. -**$BOT price:** 0.1 ETH per $BOT, decreasing 10% every 3 months. -**Split:** 20% of $SHWAP issuance and buybacks, operated by a Bot LLC. -**Cash out tax:** low (0.2), slightly prefering those who cash out later. - -### Edge cases - -#### Low a activity - - - -#### Fork - - - ### Real world examples Here are some other revnets we're helping launch this next year: @@ -473,7 +406,8 @@ Here are some other revnets we're helping launch this next year: | $SPHINX | Builds the open-source multichain devops platform Sphinx. JuiceboxDAO uses Sphinx to manage contract deployments. | Soon | N/A | The specifics of how each revnet will be tuned is a work in progress. Below are some hypothetical scenarios: --blah + + _coming soon_ --- Ethereum is one of a kind. We have incredible respect and gratitude for the work of our peers that make our contributions possible. From 5d588296ff649ffde057c696f888ed63ebc53a9b Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 9 Aug 2024 11:09:14 -0300 Subject: [PATCH 36/71] Update memo.md --- memo.md | 102 ++++++++++++++++++++++++++++++++++++++++++++++---------- 1 file changed, 84 insertions(+), 18 deletions(-) diff --git a/memo.md b/memo.md index 16cdf72..0b0c5c6 100644 --- a/memo.md +++ b/memo.md @@ -36,7 +36,13 @@ This memo makes the case for revnets. It is delivered in 3 parts: - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) 3. [Part 3 – What does it look like?](#part3--what-does-it-look-like) - - [3.4 Real world examples](#real-world-examples) + - [3.1 Overview](#overview) + - [3.2 $NANA](#nana) + - [3.3 $BANNY](#banny) + - [3.4 $SUCKS](#sucks) + - [3.5 $CROPTOP](#croptop) + - [3.6 $DEFIFA](#defifa) + - [3.7 $NANCE](#nance) --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) @@ -391,23 +397,83 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ ## Part 3 – What does it look like? -### Real world examples - -Here are some other revnets we're helping launch this next year: - -| **Project** | **Description** | **Status** | **Link** | -|-------------|-----------------|------------|----------| -| $NANA | Captures revenues from the omnichain Juicebox v4's 2.5% fee. | Very soon | [nana.eth.sucks](https://nana.eth.sucks) | -| $BANNY | Captures revenues from Bannyverse mints. | Very soon | [banny.eth.sucks](https://banny.eth.sucks) | -| $NANCE | Builds the open-source Nance governance platform for tokenized communities. | Soon | [nance.app](https://nance.app) | -| $SUCKS | Captures memetic energy from the distribution of `.eth.sucks` websites. | Soon | [eth.sucks](https://eth.sucks) | -| $DEFIFA | Captures revenues from Defifa prediction games. | Soon | [defifa.net](https://defifa.net) | -| $CROPTOP | Collects a 2.5% fee on mints from Croptop sites. Croptop is a simple IPFS-based peer-to-peer website template with content feeds and revenue streams baked in. | Soon | [croptop.eth.sucks](https://croptop.eth.sucks) | -| $SPHINX | Builds the open-source multichain devops platform Sphinx. JuiceboxDAO uses Sphinx to manage contract deployments. | Soon | N/A | - -The specifics of how each revnet will be tuned is a work in progress. Below are some hypothetical scenarios: - - _coming soon_ +### 3.1 Overview + +There are three categories of revnets that we foresee in the near term: +- **Direct sales:** These revnets' tokens are sought directly from the usage of applications that take fees, or from the sales of goods and services. These can be onchain applications which hardcode and automate the routing of funds to the revnet, or offchain applications which rely on an intermediary entity to manage engagement with the revnet and token distribution on users' behalf. +- **Subscription fees:** These revnets' tokens are sought because they permit access to certain functionalities onchain or offchain. +- **Memetic:** These revnets' tokens are sought because holders believe in the network's capacity to aggregate attention and cultural relevance, or because the tokens serve a secondary purpose like signaling loyalty. + +A revnet can belong to any number of these categories, and grow into others over time as new ideas emerge and market preferences shift. There are likely other strategies for using revnets that we've yet to explore in depth. + +Below are some other revnets we're helping launch this next year within each of these categories: + +### 3.2 $NANA +| | | +|------|--------| +| **Site** | [https://nana.eth.sucks](https://bananapus.eth.sucks) | +| **Category** | Direct sales. | +| **Value Prop** | Captures revenues from the omnichain Juicebox V4's 2.5% fee. | +| **$NANA distribution** | JuiceboxDAO will start out with a large initial supply. JuiceboxDAO will operate the split and retain a percentage of supply as $NANA tokens are issued or bought back. | +| **Big Bet** | As the omnichain Juicebox V4 ecosystem comes online and growth moves to it from V3, $NANA will benefit increasingly from fee income across all chains. The protocol takes a 2.5% fee from payouts and redeemed tokens of all projects. | +| **Edge** | If open source protocols with fees outcompete free alternatives and if governance is a burden to productivity, $NANA and JuiceboxDAO are uniquely positioned to capture revenue that regeneratively grows the wealth of its open source financial system. | +| **Risks** | Unlike V3, V4 has no TVL and has not facilitated high volume transactions. | + +### 3.3 $BANNY +| | | +|------|--------| +| **Site** | [https://banny.eth.sucks](https://banny.eth.sucks) | +| **Category** | Direct sales. | +| **Value Prop** | Captures revenues from [Bannyverse mints](https://mint.banny.eth.sucks). | +| **$BANNY distribution** | Banana Box Office Entertainment (BBO) & JuiceboxDAO will each start out with some initial supply. BBO will retain a percentage of supply as $BANNY are issued or bought back. | +| **Big Bet** | Banny's relatability and bluntness can make him a modern internet icon, and the production team is ripe to make it happen. If Banny successfully makes modern tech culture's ambitions and hypocrisy relatable through the propagation of stories, assets, and values, the Bannyverse can accompany the growth of the post-platform internet.

In turn, JuiceboxDAO, $NANA, and $REV benefit from the productive use of its protocols and the distribution of a Banny brand that's rooted in Juicebox lore, from V4 activity that adds value to $NANA, and revnet activity that adds value to $REV. | +| **Edge** | If character-based storytelling is key to relatability, $BANNY and BBO are uniquely positioned to distribute the values that Banny has grown synonymous with over the years, while making the novel token-based concepts it's associated with approachable. | +| **Risks** | There's a sea of content out there, it'll likely take persistence and increasingly better writing to break through. | + +### 3.4 $SUCKS +| | | +|------|--------| +| **Site** | [https://eth.sucks](https://eth.sucks) | +| **Category** | Memetic. | +| **Value Prop** | Captures memetic energy from the distribution of .eth.sucks links. | +| **$SUCKS distribution** | TBD. | +| **Big Bet** | IPFS-based peer-to-peer websites are more resilient than centralized alternatives, making them an ideal fit to interact with permissionless smart contracts. These websites can be surfaced from any number of proxy links (eth.limo, eth.sucks, etc), but projects will usually commit to identifying with one such link in their marketing collateral. By choosing eth.sucks, they are propagating the $SUCKS meme, which in turn supports the proxy infrastructure's optimization and maintenance. | +| **Edge** | If links are where the innovation rubber meets the online distribution road, $SUCKS and the community supporting it are uniquely positioned to capture and recycle the memetic energy contained in domain sharing, while promoting decentralized values in a traditionally centralized value-capture bottleneck. | +| **Risks** | Maintaining an ENS proxy can be time consuming, expensive, and hard to automate. | + + +### 3.5 $CROPTOP +| | | +|------|--------| +| **Site** | [https://croptop.eth.sucks](https://croptop.eth.sucks) | +| **Category** | Direct sales. | +| **Value Prop** | Collects a 2.5% fee from mints made from Croptop templates, a simple IPFS-based peer-to-peer website template with content feeds and revenue streams baked in. | +| **Big Bet** | In order to be widely adopted, IPFS-based peer-to-peer websites need to be easy to deploy and easy to attach to ENS names. The croptop Mac app fulfills this ease.

As the template is increasingly used to onboard folks to the decentralized website stack and serve their content, $CROPTOP will benefit from a 2.5% fee taken on all mints originating from it. | +| **Edge** | If content propegation benefits from being collectable, $CROPTOP and the community supporting it are uniquely positioned to remove barriers from publishing and minting across any number of blockchains. | +| **Risks** | Croptop templates can be adapted and served as folks wish, there is no way to enforce the fee at a programmatic level. | + + +### 3.6 $DEFIFA +| | | +|------|--------| +| **Site** | [https://defifa.eth.sucks](https://defifa.eth.sucks) | +| **Category** | Direct sales. | +| **Value Prop** | Captures revenues from defifa prediction games. | +| **$DEFIFA Distribution** | Defifa Ballkids & JuiceboxDAO will each start out with some initial supply. Defifa Ballkids will retain a percentage of supply as its issued or bought back. | +| **Big Bet** | People enjoy playing games, making predictions, and being a part of cultural moments. Defifa allows prediction games to resolve based only on community engagement, no oracles necessary. The lack of a need for oracles means games can be created around any cultural moment at any time. Games can then be used as a fundraising or revenue component of other networks, adding dimension and interactivity to existing networks.

As more games are played, $DEFIFA will benefit from a 2.5% fee taken on all paid out funds originating from them. | +| **Edge** | If the need for oracles reduce the landscape of playable prediction games onchain, $DEFIFA and the Defifa Research Group are uniquely positioned to open up new niche prediction markets for communities to play that benefit players involved. | +| **Risks** | Defifa games lean on social consensus to determine outcomes. Games resolve based on the outcome agreed on by players, not necessary the actual real world outcome. Incentives are designed to align these two outcomes, but there are no guarantees. | + +### 3.7 $NANCE +| | | +|------|--------| +| **Site** | [https://nance.app](https://nance.app) | +| **Category** | Subscription fees. | +| **Value Prop** | Brokers access to the nance service. | +| **$NANCE Distribution** | TBD. | +| **Big Bet** | Onchain organizations often rely on governance processes to make decisions regarding shared resources. Nance offers a unique take on governance that encourages scheduled deliberation and voting periods, adding structure that standardizes expectations therefore minimizing risks of neglect or abuse.

As more organizations use Nance to facilitate their governance process, $NANCE will benefit from a subscription fee that keeps each organization's instance of the service running. | +| **Edge** | If tokenized governance continues to be a sought-after coordination exercise for online groups, Nance has a strong track record of helping organizations manage millions of dollars and is uniquely positioned to guide folks towards best practices that encourage participation while avoiding pitfalls of power struggle. | +| **Risks** | Nance runs a server-based service, using crypto only for its users' data backups and for its own business model operations. This interaction of web2 and web3 is novel and lacks best practices, we're making intricate decisions involving tradeoffs as we develop tools such as Nance and revnets. | --- Ethereum is one of a kind. We have incredible respect and gratitude for the work of our peers that make our contributions possible. From 84b8948e689d3b0bea4e62b96b21ab3b01797af2 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 9 Aug 2024 11:11:58 -0300 Subject: [PATCH 37/71] Update memo.md --- memo.md | 6 ++++-- 1 file changed, 4 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 0b0c5c6..450d145 100644 --- a/memo.md +++ b/memo.md @@ -404,7 +404,9 @@ There are three categories of revnets that we foresee in the near term: - **Subscription fees:** These revnets' tokens are sought because they permit access to certain functionalities onchain or offchain. - **Memetic:** These revnets' tokens are sought because holders believe in the network's capacity to aggregate attention and cultural relevance, or because the tokens serve a secondary purpose like signaling loyalty. -A revnet can belong to any number of these categories, and grow into others over time as new ideas emerge and market preferences shift. There are likely other strategies for using revnets that we've yet to explore in depth. +A revnet can belong to any number of these categories, and grow into others over time as new ideas emerge and market preferences shift. $REV, for example, is best described within the "direct sales" category because it benefits from fees taken directly within the smart contract routines. + +There are likely other strategies for using revnets that we've yet to explore in depth. Below are some other revnets we're helping launch this next year within each of these categories: @@ -456,7 +458,7 @@ Below are some other revnets we're helping launch this next year within each of ### 3.6 $DEFIFA | | | |------|--------| -| **Site** | [https://defifa.eth.sucks](https://defifa.eth.sucks) | +| **Site** | [https://defifa.net](https://defifa.net) | | **Category** | Direct sales. | | **Value Prop** | Captures revenues from defifa prediction games. | | **$DEFIFA Distribution** | Defifa Ballkids & JuiceboxDAO will each start out with some initial supply. Defifa Ballkids will retain a percentage of supply as its issued or bought back. | From e80fee43f12ed4d2ace19b26b5f005a69ab1351b Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 9 Aug 2024 11:16:13 -0300 Subject: [PATCH 38/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 450d145..c775011 100644 --- a/memo.md +++ b/memo.md @@ -4,7 +4,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. 2. **What are the terms?:** Includes specifics of how you are invited to participate. -3. **What does it look like?:** Illustrates the opportunity with examples, case studies, and simulations. +3. **What does it look like?:** Illustrates the opportunity with examples and case studies. ## Contents 1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) From 0be6708e799261e04a6f0ee2b204c2352f781c7d Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 9 Aug 2024 11:17:16 -0300 Subject: [PATCH 39/71] Update memo.md --- memo.md | 8 +------- 1 file changed, 1 insertion(+), 7 deletions(-) diff --git a/memo.md b/memo.md index c775011..44c5c2c 100644 --- a/memo.md +++ b/memo.md @@ -411,7 +411,6 @@ There are likely other strategies for using revnets that we've yet to explore in Below are some other revnets we're helping launch this next year within each of these categories: ### 3.2 $NANA -| | | |------|--------| | **Site** | [https://nana.eth.sucks](https://bananapus.eth.sucks) | | **Category** | Direct sales. | @@ -422,7 +421,6 @@ Below are some other revnets we're helping launch this next year within each of | **Risks** | Unlike V3, V4 has no TVL and has not facilitated high volume transactions. | ### 3.3 $BANNY -| | | |------|--------| | **Site** | [https://banny.eth.sucks](https://banny.eth.sucks) | | **Category** | Direct sales. | @@ -433,7 +431,6 @@ Below are some other revnets we're helping launch this next year within each of | **Risks** | There's a sea of content out there, it'll likely take persistence and increasingly better writing to break through. | ### 3.4 $SUCKS -| | | |------|--------| | **Site** | [https://eth.sucks](https://eth.sucks) | | **Category** | Memetic. | @@ -445,7 +442,6 @@ Below are some other revnets we're helping launch this next year within each of ### 3.5 $CROPTOP -| | | |------|--------| | **Site** | [https://croptop.eth.sucks](https://croptop.eth.sucks) | | **Category** | Direct sales. | @@ -456,7 +452,6 @@ Below are some other revnets we're helping launch this next year within each of ### 3.6 $DEFIFA -| | | |------|--------| | **Site** | [https://defifa.net](https://defifa.net) | | **Category** | Direct sales. | @@ -467,12 +462,11 @@ Below are some other revnets we're helping launch this next year within each of | **Risks** | Defifa games lean on social consensus to determine outcomes. Games resolve based on the outcome agreed on by players, not necessary the actual real world outcome. Incentives are designed to align these two outcomes, but there are no guarantees. | ### 3.7 $NANCE -| | | |------|--------| | **Site** | [https://nance.app](https://nance.app) | | **Category** | Subscription fees. | | **Value Prop** | Brokers access to the nance service. | -| **$NANCE Distribution** | TBD. | +| **$NANCE distribution** | TBD. | | **Big Bet** | Onchain organizations often rely on governance processes to make decisions regarding shared resources. Nance offers a unique take on governance that encourages scheduled deliberation and voting periods, adding structure that standardizes expectations therefore minimizing risks of neglect or abuse.

As more organizations use Nance to facilitate their governance process, $NANCE will benefit from a subscription fee that keeps each organization's instance of the service running. | | **Edge** | If tokenized governance continues to be a sought-after coordination exercise for online groups, Nance has a strong track record of helping organizations manage millions of dollars and is uniquely positioned to guide folks towards best practices that encourage participation while avoiding pitfalls of power struggle. | | **Risks** | Nance runs a server-based service, using crypto only for its users' data backups and for its own business model operations. This interaction of web2 and web3 is novel and lacks best practices, we're making intricate decisions involving tradeoffs as we develop tools such as Nance and revnets. | From 68cfa5e2831031e5b67c60531945d88fcd800e4a Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 9 Aug 2024 11:19:00 -0300 Subject: [PATCH 40/71] Update memo.md --- memo.md | 6 ++++++ 1 file changed, 6 insertions(+) diff --git a/memo.md b/memo.md index 44c5c2c..dc35e9f 100644 --- a/memo.md +++ b/memo.md @@ -411,6 +411,7 @@ There are likely other strategies for using revnets that we've yet to explore in Below are some other revnets we're helping launch this next year within each of these categories: ### 3.2 $NANA +| | | |------|--------| | **Site** | [https://nana.eth.sucks](https://bananapus.eth.sucks) | | **Category** | Direct sales. | @@ -421,6 +422,7 @@ Below are some other revnets we're helping launch this next year within each of | **Risks** | Unlike V3, V4 has no TVL and has not facilitated high volume transactions. | ### 3.3 $BANNY +| | | |------|--------| | **Site** | [https://banny.eth.sucks](https://banny.eth.sucks) | | **Category** | Direct sales. | @@ -431,6 +433,7 @@ Below are some other revnets we're helping launch this next year within each of | **Risks** | There's a sea of content out there, it'll likely take persistence and increasingly better writing to break through. | ### 3.4 $SUCKS +| | | |------|--------| | **Site** | [https://eth.sucks](https://eth.sucks) | | **Category** | Memetic. | @@ -442,6 +445,7 @@ Below are some other revnets we're helping launch this next year within each of ### 3.5 $CROPTOP +| | | |------|--------| | **Site** | [https://croptop.eth.sucks](https://croptop.eth.sucks) | | **Category** | Direct sales. | @@ -452,6 +456,7 @@ Below are some other revnets we're helping launch this next year within each of ### 3.6 $DEFIFA +| | | |------|--------| | **Site** | [https://defifa.net](https://defifa.net) | | **Category** | Direct sales. | @@ -462,6 +467,7 @@ Below are some other revnets we're helping launch this next year within each of | **Risks** | Defifa games lean on social consensus to determine outcomes. Games resolve based on the outcome agreed on by players, not necessary the actual real world outcome. Incentives are designed to align these two outcomes, but there are no guarantees. | ### 3.7 $NANCE +| | | |------|--------| | **Site** | [https://nance.app](https://nance.app) | | **Category** | Subscription fees. | From 577ce912c6aafbb6eaf9e0d7cc3d4d95eeb253fd Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 9 Aug 2024 11:20:41 -0300 Subject: [PATCH 41/71] Update memo.md --- memo.md | 6 +++--- 1 file changed, 3 insertions(+), 3 deletions(-) diff --git a/memo.md b/memo.md index dc35e9f..0c165f4 100644 --- a/memo.md +++ b/memo.md @@ -4,7 +4,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. 2. **What are the terms?:** Includes specifics of how you are invited to participate. -3. **What does it look like?:** Illustrates the opportunity with examples and case studies. +3. **What do they look like?:** Illustrates the opportunity with examples and case studies. ## Contents 1. [Part 1 – What's the big deal?](#part-1--whats-the-big-deal) @@ -35,7 +35,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: - [2.6 Investor FAQ](#investor-faq) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) -3. [Part 3 – What does it look like?](#part3--what-does-it-look-like) +3. [Part 3 – What do they look like?](#part3--what-do-they-look-like) - [3.1 Overview](#overview) - [3.2 $NANA](#nana) - [3.3 $BANNY](#banny) @@ -395,7 +395,7 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ ![image](https://github.com/user-attachments/assets/ac3db796-bdfc-4cb3-be41-78428ecbf586) -## Part 3 – What does it look like? +## Part 3 – What do they look like? ### 3.1 Overview From 91af20cb6ebabd838a204e722862da6ff56a2b96 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 16 Aug 2024 21:36:26 -0300 Subject: [PATCH 42/71] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 0c165f4..9217189 100644 --- a/memo.md +++ b/memo.md @@ -32,10 +32,10 @@ This memo makes the case for revnets. It is delivered in 3 parts: - [Offchain management](#offchain-management) - [Spend](#spend) - [2.5 RF1](#rf1) - - [2.6 Investor FAQ](#investor-faq) + - [2.6 FAQ](#faq) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) -3. [Part 3 – What do they look like?](#part3--what-do-they-look-like) +3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) - [3.1 Overview](#overview) - [3.2 $NANA](#nana) - [3.3 $BANNY](#banny) From d730764b5d3e0b8ef0632fa99fcc780f90c15981 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 16 Aug 2024 21:37:41 -0300 Subject: [PATCH 43/71] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 9217189..24060c0 100644 --- a/memo.md +++ b/memo.md @@ -173,8 +173,8 @@ We're calling on partners who believe in this revenue-forward version of the ope ### 2.1 Overview There are three entities at play: -- **$REV:** The revnet. -- **Revnet Research Group, LLC (RRG):** The split operator of the revnet to start. +- **$REV:** A revnet. +- **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. It is important to also mention Juicebox DAO ($JBX), a community that has been instrumental to the research and development of revnets. From d3d646abd379d068354541cd6260617053b270be Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Fri, 16 Aug 2024 23:25:52 -0300 Subject: [PATCH 44/71] Update memo.md --- memo.md | 19 ++++++++++--------- 1 file changed, 10 insertions(+), 9 deletions(-) diff --git a/memo.md b/memo.md index 24060c0..f9b1a01 100644 --- a/memo.md +++ b/memo.md @@ -3,7 +3,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. -2. **What are the terms?:** Includes specifics of how you are invited to participate. +2. **What are the terms?:** Includes specifics of how you are invited to participate as investors, and an FAQ. 3. **What do they look like?:** Illustrates the opportunity with examples and case studies. ## Contents @@ -60,7 +60,7 @@ Join us – a group of active Web3 builders with vivid stories to prove it – i ### 1.2 Overview -Openly accounted-for fundraises and revenues should outcompete everything by enabling: +With today's societal demand for mobility, open source and openly accounted-for fundraises and revenues should outcompete everything by enabling: - **Scaled Participation:** Flexible and potentially global community with vested interests. - **Full Transparency:** Public code and accounting is more trustworthy and easier to cooperate with. @@ -72,9 +72,9 @@ They struggle to enforce revenue-generation to pay for innovation, maintenance, - **Moat Dilemma:** The work and strategies of open businesses can be copied without inheriting the baggage of the original, meaning cheaper alternatives can emerge easily, devaluing the various costs borne by the original. - **Dependency Dilemma:** Many profitable businesses rely deeply on open source components, yet don't have clarity on how to foster a productive financial relationship with their communities, or motivation to do so unless developed in-house. -This makes realizing open ideals, especially for open source initiatives, reliant on free and inconsistent labor, donations, grants, or corporate sponsorship, when this should instead be the most investable and rewarding category of internet business. +This makes realizing open ideals reliant on free and inconsistent labor, donations, grants, or corporate sponsorship, when this should instead be the most investable and rewarding category of internet business. -Auto-enforceable blockchain agreements are the correct building block on which to build online legitimacy, but today's attempted business model solutions are incomplete and come with unsustainable tradeoffs. Businesses and investors currently have the following options for monetizing onchain: +Auto-enforceable blockchain agreements are the correct building block on which to build legitimate decentralized value networks, but today's attempted business model solutions are incomplete and come with unsustainable tradeoffs. Businesses and investors currently have the following options for monetizing onchain: - **Liquidity farming:** Tokenized models marketed as open and yield providing, but with implicit or explicit backdoors for insiders to dump on retail once they've filled their bags. - **Governance DAOs:** Tokenized voting systems that decide how raised funds and revenues should be spent, creating power struggles that get in the way of effective capital allocation. @@ -82,16 +82,17 @@ Auto-enforceable blockchain agreements are the correct building block on which t - **NFT memberships:** Rare tokenized artifacts whose value will speculatively increase as the issuing entity becomes popularized, but with no liquidity apart from exhausting pump and dumps. - **Custom mechanisms:** Custom tokenization dynamic with a unique set of coded rules that attempt to fulfill a desired set of outcomes, but requiring everyone to learn a new jargon-filled system and trust that it is implemented bug free. - **Grants and donations:** No tokenized monetization strategy, just builders and investors with an expectation that their value creation, if done openly, will be retroactively rewarded by altruists who directly benefited from the outcomes. +- **No progress:** Take investments and fees to a centralized wallet to operate from, as usual. + +We need a better place to put our money. A revenue-forward growth-oriented solution that is sustainable, reliable, simple, and massively scalable to help every value-creating business with an online growth presence – local and global – realize their potential in the upcoming tokenized economy. -We need a better place to put our money. A revenue-forward growth-oriented solution that is sustainable, reliable, and massively scalable to help every value-creating business with an online growth presence – local and global – realize their potential in the upcoming tokenized economy. +We think revnets might be it: A win-win-win growth engine for investors, builders, and retail customers of open source and beyond. Built by developers who've helped facilitate over $185 million in ETH payments over their past 4 years of experience designing, building, securing, and distributing Ethereum-based tokenization infrastructure. -We think revnets might be it: A win-win-win growth engine for investors, builders, and retail customers of open source and beyond. Built by developers who've helped facilitate over $185 million in ETH payments over their past 4 years of experience building, securing, and marketing Ethereum-based tokenization infrastructure. - -Revnets resolve the three dilemmas above by creating openly accounted-for financial networks with clearly bounded risks that reliably benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. +Revnets are easy to use, a bicycle for online economies. They resolve the three dilemmas above by creating openly accounted-for financial networks with clearly bounded risks that reliably benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, "the next generation for markets, the next generation for securities, will be tokenization of securities."[^1] We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, compensation, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. -We're deploying a $REV revnet that'll capture 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for ten other spectacular projects we've been working with, demonstrating how revnets are: +We're deploying a $REV revnet that'll earn 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for ten other spectacular projects we've been working with, demonstrating how revnets are: - **Versatile:** This simple financial instrument has the power to support diverse applications. - **Standardized:** They create a familiar business interaction standard, leading to a positive feedback loop for all revnet-based projects. From 7cd5ff07c7fb7b85bebacf8fe755f69e47f99423 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:01:18 -0300 Subject: [PATCH 45/71] Update memo.md --- memo.md | 98 +++++++++++++++++++++++++++++++-------------------------- 1 file changed, 54 insertions(+), 44 deletions(-) diff --git a/memo.md b/memo.md index f9b1a01..5bf9031 100644 --- a/memo.md +++ b/memo.md @@ -104,8 +104,8 @@ Projects will choose a revnet business structure when they prefer their outcome Think of revnets like a spicy Bitcoin halvening rule. Similar to Bitcoin, revnets are a fully pre-configured financial structure – although they can evolve over time, they do so according to rules that are set in place at the time of their creation. Unlike Bitcoin, the rules dont involve proof-of-work with periodic supply shocks that lead to a fixed supply of 21m coins over time. Revnets enforce a certain other set of guarantees affecting inflows and outflows of money. -Think of it as a digital vending machine: -1. Receives dollar bills from a business's raised funds and future revenues. +These guarentees can be visualized as a digital vending machine that: +1. Receives dollar bills from a business's raised funds and revenues. 2. Dispenses its unique tokens (henceforth $TOKENs) and optionally digital artifacts (NFTs) in return. 3. The only way to access the dollar bills the machine has earned is to give it its $TOKENs back. @@ -125,7 +125,7 @@ Revnets enforces three main customizable rules that can be preset to change over Screenshot_2024-01-21_at_17 58 43

- + This means revnets are: - **Governance-free**: Governance inefficiencies and takeovers of funds are impossible. @@ -154,17 +154,17 @@ In this era of crypto and media networks that innovate on internet-native concep We've also seen the negligence and gross extractive tendencies that over-leveraged entrepreneurs, investors, and traders can succumb to when left unchecked. Blockchains give us transactional freedoms – using them to progress positive-sum game-theoretic financial applications like revnets is non-trivial, while using them to manipulate the public with hyped-up zero-sum Ponzi schemes is easy and unfortunately all too common. -Revnets are the next step. They are an expression of the Juicebox language we know so well, and the tokenized standard we're sorely missing to encourage more projects to hit the gas with confidence and without incumbent tradeoffs. +Revnets are the next step. They are an expression of the Juicebox language we know so well, and the tokenized standard we're sorely missing to encourage more projects – many of our own – to hit the gas with confidence and without incumbent tradeoffs. Their time is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. ### 1.5 Call to action -Revnets can power millions of startups to become global movements, high net-worth interconnected economies, and retail-owned brands that outcompete traditional private alternatives, meanwhile helping incumbent businesses transition to the more powerful open internet. +Revnets can power millions of startups to become global movements, high net-worth interconnected economies, and retail-owned brands that outcompete traditional private alternatives, meanwhile helping incumbent businesses – for-profit and non-profit corporations and associations – transition to the more powerful open internet. -With revnets, the open internet will win _because_ it best serves creatives, builders, investors, and consumers alike. +With revnets, the open internet will outcompete private alternatives _because_ it best serves creatives, builders, investors, and consumers alike. -We're calling on partners who believe in this revenue-forward version of the open internet to join the $REV network. The more we help each emergent revnet win, the more we win. Read Part 2 of this memo if you're leaning in. +We're calling on partners who believe in this revenue-forward version of the open internet to join the $REV network. The more we help each emergent revnet win, the more we win, the more the open internet wins. Read Part 2 of this memo if you're leaning in. --- ![image](https://github.com/user-attachments/assets/01ba051e-cb0d-4364-8539-76199512eed6) @@ -181,7 +181,7 @@ There are three entities at play: It is important to also mention Juicebox DAO ($JBX), a community that has been instrumental to the research and development of revnets. In summary, they have the following relationships: -- $REV's split is operated by RRG. +- $REV's split is operated by RRG, described below. - RRG makes, secures, and markets tools that help make $REV more successful. - RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other renvet $TOKENs it believes in. - Juicebox DAO makes, secures, and markets the Juicebox v4 protocol with which all revnets are expressed. @@ -189,7 +189,7 @@ In summary, they have the following relationships: - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. -Understanding the specific terms of the plan first requires elaborating on a revnet's anatomy. +Understanding the specific terms of the gameplan first requires elaborating on a revnet's anatomy. ### 2.2 Anatomy of a revnet | Advanced @@ -242,7 +242,7 @@ Loans from all revnets also incur a 2.5% $NANA fee and a 0.5% $REV fee, in addit ### 2.3 $REV -RRG is setting up $REV's revnet rules in hopes of emphasizing the following principles: +RRG is setting up $REV's revnet rules attempting to emphasize the following principles: - **Simple:** Its rules play out in 3 stages that should be easy to think about, with occasional important shifts that feel ceremonial. - **Self-owned growth:** It should make sure all participants who will sustain its growth – investors, builders, storytellers, fans, donors, fee-paying retail consumers – feel like it benefits them. - **Clear incentives, from startup to scale:** It should make both elders and newcomers feel like it acknowledges risks and contributions over time. @@ -251,43 +251,43 @@ RRG is setting up $REV's revnet rules in hopes of emphasizing the following prin #### $REV stage 1 -_Price doubles every 90 days. 40% of issuance and buybacks to Revnet Research Group. Automint an initial supply to acknowledge pre-net work. Cashing out leaves money on the table._ +_Price increases by 50% every 90 days. 40% of issuance and buybacks to Revnet Research Group. Automint an initial supply to acknowledge pre-net work. Cashing out leaves some money on the table._ | **Rule** | **Value** | |--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | **Duration** | 720 days (~2 years). | | **Initial price** | 1 $REV costs 0.001 ETH. | -| **Price increase** | Doubles every 90 days. | +| **Price increase** | Increase by 50% every 90 days. | | **Split** | 40% split of issuance and buybacks operated by `rrg.eth`. | | **Automint** | 69,000 $REV to `rrg.eth` for pre-launch work. | -| **Cash out tax** | Medium-high (0.6). The network consolidates when holders cash out. | +| **Cash out tax** | Medium (0.5). The network consolidates when holders cash out. | > RRG can shape the split distribution within the hardwired 40% over time (or relinquish the power), and will receive the initial automint. Prospectively, the 40% split will have 27% routed to `rrg.eth`, and 13% to `dao.jbx.eth`. The 69,000 automint will have 25,000 sent to `dao.jbx.eth` (JuiceboxDAO), 10,000 to `breadfruit.eth`, 10,000 to `filipv.eth`, 10,000 to `codalabs.eth`, 4,000 to `openesquire.eth`, 2,000 to `kmacb.eth`, 2,000 to `0xba5ed.eth`, 2,000 to `noobwonder.eth`, 2,000 to [Peel](https://juicebox.money/@peel), 1,000 to `drgorilla.eth`, 1,000 to `peacenode.eth`, 500 to [Juicecast](https://juicebox.money/@juicecast), and 500 to LJ. ##### $REV stage 2 -_Starts 2 years after the revnet is deployed. Price continues doubling every 180 days. 40% of issuance and buybacks continue to Revnet Research Group. Automint a vested supply to acknowledge pre-net work. Cashing out still leaves money on the table._ +_Starts 2 years after the revnet is deployed. Price continues increase by 50% every 180 days. 40% of issuance and buybacks continue to Revnet Research Group. Automint a vested supply to acknowledge pre-net work. Cashing out still leaves some money on the table._ | **Rule** | **Value** | |--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | **Duration** | 6,480 days. (~18 years) | | **Initial price** | Where stage 1 left off. | -| **Price increase** | Doubling every 180 days. | +| **Price increase** | Increase by 50% every 180 days. | | **Split** | No change. 40% of issuance and buybacks operated by `rrg.eth`. | | **Automint** | 127,000 $REV to `rrg.eth` for pre-net work. | -| **Cash out tax** | No change. Medium-high (0.6). | +| **Cash out tax** | No change. Medium (0.5). | > Prospectively, the 40% split will be have 8% burnt, 20% routed to `rrg.eth`, 12% to `dao.jbx.eth`. The 127,000 automint will have 35,000 sent to `dao.jbx.eth`, 20,000 to `breadfruit.eth`, 20,000 to `filipv.eth`, 20,000 to `codalabs.eth`, 10,000 to `openesquire.eth`, 5,000 to `kmacb.eth`, 5,000 to `0xba5ed.eth`, 5,000 to `noobwonder.eth`, 5,000 to [Peel](https://juicebox.money/@peel), 1,000 to `drgorilla.eth`, 1,000 to `peacenode.eth`, 500 to [Juicecast](https://juicebox.money/@juicecast), and 500 to LJ. ##### $REV stage 3 -_No more issuance. 10% of issuance and buybacks to Revnet Research Group. Cashing out still leaves money on the table._ +_No more issuance. 10% of issuance and buybacks to Revnet Research Group. Cashing out leaves less money on the table._ | **Rule** | **Value** | |--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | **Duration** | Forever. | | **Initial price** | 0. No more issuance. | | **Split** | 10% of buybacks operated by `rrg.eth`. | -| **Cash out tax** | No change. Medium-high (0.6). +| **Cash out tax** | No change. Small (0.2). > Prospectively, the 10% split will always be burnt. @@ -301,19 +301,19 @@ Both token-comfortable people interacting directly from their favorite EVM block ### 2.3 Revnet Research Group (RRG) -We'll use an LLC named RRG to support the revnet ecosystem and help it interface with conventional tech and finance sectors. +We'll use an LLC named Revnet Research Group to support the revnet ecosystem and help it interface with conventional tech and finance sectors. We think it's important for RRG to set an example of how a corporate partnership can be successful as a scoped subcomponent of a public onchain revnet structure, in this case $REV. #### RRG Mission -RRG will serve the growth and sustainability of open internet economies through revnets. We're shooting for $1 billion of assets locked in revnets in 4 years. +RRG will serve the growth and sustainability of open internet economies through revnets. We think its realistic to expect $1 billion of assets locked in revnets in 4 years. -In the short term, we need to make sure the upcoming revnets have a great chance at being wildly successful, delivering revnets as the clear vision of how wealth will be most productively created and distributed in our future. +In the short term, we need to make sure the upcoming revnets have a great chance at being successful, delivering revnets as the clear vision of how wealth will be most productively created and distributed in our future. #### Bottom line -RRG will achieve its mission in three ways: build and market a great [revnet.app](https://revnet.app) – the trusted web link to browse and participate in revnets through, leverage its $REV balance towards marketing and ecosystem development, and accelerating new revnets in dynamic ways. +RRG will achieve its mission in three ways: build and market a great [revnet.app](https://revnet.app) – the trusted web link to browse and participate in revnets through, leverage its $REV balance towards marketing and ecosystem development, and accelerating new revnets with consulting, funding, tools, and staff. RRG will also have leverage to charge fees when facilitating access to revnets for traditional institutions. @@ -348,7 +348,7 @@ Robert Leonhard is the co-founder of [Open Esquire](https://openesq.tech), a gro #### Spend -RRG will use the $REV it earns to support the launch, security, and marketing of revnet.app and associated revnets. We will staff jango (project/tech lead), filip (ops/tech lead), aeolian (consumer/tech lead), kmac (marketing/tech lead), and rob (legal). +RRG will use the $REV it earns to support the launch, security, and distribution of revnet.app and associated revnets. We will staff jango (project/tech lead), filip (ops/tech lead), aeolian (consumer/tech lead), kmac (marketing/tech lead), and rob (legal). The technical and product todos include: - iterate on revnet.app to best serve revnet participation and creation. @@ -366,7 +366,6 @@ The marketing todos include: There will also be a Rev Fund 1, LLC, a Delaware-based private investment fund structured as a limited liability company. Its primary focus will be on investing in $REV projects, with an investment mandate managed by a registered investment advisor (RIA). The fund will target private investors who meet the standard accreditation and qualification criteria, complying with the 3(c)(1) exemption under the Investment Company Act. Capital will be raised through a private placement offering, with investors committing to specified minimum investment amounts. The RIA managing the fund will charge a 2% management fee, ensuring dedicated oversight and strategic investment in the $REV ecosystem. This fee structure aligns with industry standards, providing transparency and incentivizing effective fund management. More about RF1 soon. - Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). @@ -400,11 +399,16 @@ There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($ ### 3.1 Overview -There are three categories of revnets that we foresee in the near term: +There are three categories of revnet businesses that we foresee in the near term: - **Direct sales:** These revnets' tokens are sought directly from the usage of applications that take fees, or from the sales of goods and services. These can be onchain applications which hardcode and automate the routing of funds to the revnet, or offchain applications which rely on an intermediary entity to manage engagement with the revnet and token distribution on users' behalf. - **Subscription fees:** These revnets' tokens are sought because they permit access to certain functionalities onchain or offchain. - **Memetic:** These revnets' tokens are sought because holders believe in the network's capacity to aggregate attention and cultural relevance, or because the tokens serve a secondary purpose like signaling loyalty. +We expect these business models to be initially used by three main categories of organizations: +- **Onchain:** Revnets with zero split percentages, or split percentages going to multisigs and onchain DAOs. +- **Campaign:** Revnets with a near-100% split percentage, useful for ongoing fundraises that prefer access to all the capital. +- **Hybrid:** Revnets with a split percent operated by a for-profit or non-profit corporation or association. + A revnet can belong to any number of these categories, and grow into others over time as new ideas emerge and market preferences shift. $REV, for example, is best described within the "direct sales" category because it benefits from fees taken directly within the smart contract routines. There are likely other strategies for using revnets that we've yet to explore in depth. @@ -415,10 +419,11 @@ Below are some other revnets we're helping launch this next year within each of | | | |------|--------| | **Site** | [https://nana.eth.sucks](https://bananapus.eth.sucks) | -| **Category** | Direct sales. | -| **Value Prop** | Captures revenues from the omnichain Juicebox V4's 2.5% fee. | +| **Business model category** | Direct sales | +| **Organizational category** | Onchain | +| **Value prop** | Captures revenues from the omnichain Juicebox V4's 2.5% fee. | | **$NANA distribution** | JuiceboxDAO will start out with a large initial supply. JuiceboxDAO will operate the split and retain a percentage of supply as $NANA tokens are issued or bought back. | -| **Big Bet** | As the omnichain Juicebox V4 ecosystem comes online and growth moves to it from V3, $NANA will benefit increasingly from fee income across all chains. The protocol takes a 2.5% fee from payouts and redeemed tokens of all projects. | +| **Big bet** | As the omnichain Juicebox V4 ecosystem comes online and growth moves to it from V3, $NANA will benefit increasingly from fee income across all chains. The protocol takes a 2.5% fee from payouts and redeemed tokens of all projects. | | **Edge** | If open source protocols with fees outcompete free alternatives and if governance is a burden to productivity, $NANA and JuiceboxDAO are uniquely positioned to capture revenue that regeneratively grows the wealth of its open source financial system. | | **Risks** | Unlike V3, V4 has no TVL and has not facilitated high volume transactions. | @@ -426,10 +431,11 @@ Below are some other revnets we're helping launch this next year within each of | | | |------|--------| | **Site** | [https://banny.eth.sucks](https://banny.eth.sucks) | -| **Category** | Direct sales. | -| **Value Prop** | Captures revenues from [Bannyverse mints](https://mint.banny.eth.sucks). | +| **Business model category** | Direct sales | +| **Organizational category** | Hybrid | +| **Value prop** | Captures revenues from [Bannyverse mints](https://mint.banny.eth.sucks). | | **$BANNY distribution** | Banana Box Office Entertainment (BBO) & JuiceboxDAO will each start out with some initial supply. BBO will retain a percentage of supply as $BANNY are issued or bought back. | -| **Big Bet** | Banny's relatability and bluntness can make him a modern internet icon, and the production team is ripe to make it happen. If Banny successfully makes modern tech culture's ambitions and hypocrisy relatable through the propagation of stories, assets, and values, the Bannyverse can accompany the growth of the post-platform internet.

In turn, JuiceboxDAO, $NANA, and $REV benefit from the productive use of its protocols and the distribution of a Banny brand that's rooted in Juicebox lore, from V4 activity that adds value to $NANA, and revnet activity that adds value to $REV. | +| **Big bet** | Banny's relatability and bluntness can make him a modern internet icon, and the production team is ripe to make it happen. If Banny successfully makes modern tech culture's ambitions and hypocrisy relatable through the propagation of stories, assets, and values, the Bannyverse can accompany the growth of the post-platform internet.

In turn, JuiceboxDAO, $NANA, and $REV benefit from the productive use of its protocols and the distribution of a Banny brand that's rooted in Juicebox lore, from V4 activity that adds value to $NANA, and revnet activity that adds value to $REV. | | **Edge** | If character-based storytelling is key to relatability, $BANNY and BBO are uniquely positioned to distribute the values that Banny has grown synonymous with over the years, while making the novel token-based concepts it's associated with approachable. | | **Risks** | There's a sea of content out there, it'll likely take persistence and increasingly better writing to break through. | @@ -437,10 +443,11 @@ Below are some other revnets we're helping launch this next year within each of | | | |------|--------| | **Site** | [https://eth.sucks](https://eth.sucks) | -| **Category** | Memetic. | -| **Value Prop** | Captures memetic energy from the distribution of .eth.sucks links. | +| **Business model category** | Memetic | +| **Organizational category** | Onchain | +| **Value prop** | Captures memetic energy from the distribution of .eth.sucks links. | | **$SUCKS distribution** | TBD. | -| **Big Bet** | IPFS-based peer-to-peer websites are more resilient than centralized alternatives, making them an ideal fit to interact with permissionless smart contracts. These websites can be surfaced from any number of proxy links (eth.limo, eth.sucks, etc), but projects will usually commit to identifying with one such link in their marketing collateral. By choosing eth.sucks, they are propagating the $SUCKS meme, which in turn supports the proxy infrastructure's optimization and maintenance. | +| **Big bet** | IPFS-based peer-to-peer websites are more resilient than centralized alternatives, making them an ideal fit to interact with permissionless smart contracts. These websites can be surfaced from any number of proxy links (eth.limo, eth.sucks, etc), but projects will usually commit to identifying with one such link in their marketing collateral. By choosing eth.sucks, they are propagating the $SUCKS meme, which in turn supports the proxy infrastructure's optimization and maintenance. | | **Edge** | If links are where the innovation rubber meets the online distribution road, $SUCKS and the community supporting it are uniquely positioned to capture and recycle the memetic energy contained in domain sharing, while promoting decentralized values in a traditionally centralized value-capture bottleneck. | | **Risks** | Maintaining an ENS proxy can be time consuming, expensive, and hard to automate. | @@ -449,9 +456,10 @@ Below are some other revnets we're helping launch this next year within each of | | | |------|--------| | **Site** | [https://croptop.eth.sucks](https://croptop.eth.sucks) | -| **Category** | Direct sales. | -| **Value Prop** | Collects a 2.5% fee from mints made from Croptop templates, a simple IPFS-based peer-to-peer website template with content feeds and revenue streams baked in. | -| **Big Bet** | In order to be widely adopted, IPFS-based peer-to-peer websites need to be easy to deploy and easy to attach to ENS names. The croptop Mac app fulfills this ease.

As the template is increasingly used to onboard folks to the decentralized website stack and serve their content, $CROPTOP will benefit from a 2.5% fee taken on all mints originating from it. | +| **Business model category** | Direct sales | +| **Organizational category** | Onchain | +| **Value prop** | Collects a 2.5% fee from mints made from Croptop templates, a simple IPFS-based peer-to-peer website template with content feeds and revenue streams baked in. | +| **Big bet** | In order to be widely adopted, IPFS-based peer-to-peer websites need to be easy to deploy and easy to attach to ENS names. The croptop Mac app fulfills this ease.

As the template is increasingly used to onboard folks to the decentralized website stack and serve their content, $CROPTOP will benefit from a 2.5% fee taken on all mints originating from it. | | **Edge** | If content propegation benefits from being collectable, $CROPTOP and the community supporting it are uniquely positioned to remove barriers from publishing and minting across any number of blockchains. | | **Risks** | Croptop templates can be adapted and served as folks wish, there is no way to enforce the fee at a programmatic level. | @@ -460,10 +468,11 @@ Below are some other revnets we're helping launch this next year within each of | | | |------|--------| | **Site** | [https://defifa.net](https://defifa.net) | -| **Category** | Direct sales. | -| **Value Prop** | Captures revenues from defifa prediction games. | -| **$DEFIFA Distribution** | Defifa Ballkids & JuiceboxDAO will each start out with some initial supply. Defifa Ballkids will retain a percentage of supply as its issued or bought back. | -| **Big Bet** | People enjoy playing games, making predictions, and being a part of cultural moments. Defifa allows prediction games to resolve based only on community engagement, no oracles necessary. The lack of a need for oracles means games can be created around any cultural moment at any time. Games can then be used as a fundraising or revenue component of other networks, adding dimension and interactivity to existing networks.

As more games are played, $DEFIFA will benefit from a 2.5% fee taken on all paid out funds originating from them. | +| **Business model category** | Direct sales | +| **Organizational category** | Hybrid | +| **Value prop** | Captures revenues from defifa prediction games. | +| **$DEFIFA distribution** | Defifa Ballkids & JuiceboxDAO will each start out with some initial supply. Defifa Ballkids will retain a percentage of supply as its issued or bought back. | +| **Big bet** | People enjoy playing games, making predictions, and being a part of cultural moments. Defifa allows prediction games to resolve based only on community engagement, no oracles necessary. The lack of a need for oracles means games can be created around any cultural moment at any time. Games can then be used as a fundraising or revenue component of other networks, adding dimension and interactivity to existing networks.

As more games are played, $DEFIFA will benefit from a 2.5% fee taken on all paid out funds originating from them. | | **Edge** | If the need for oracles reduce the landscape of playable prediction games onchain, $DEFIFA and the Defifa Research Group are uniquely positioned to open up new niche prediction markets for communities to play that benefit players involved. | | **Risks** | Defifa games lean on social consensus to determine outcomes. Games resolve based on the outcome agreed on by players, not necessary the actual real world outcome. Incentives are designed to align these two outcomes, but there are no guarantees. | @@ -471,10 +480,11 @@ Below are some other revnets we're helping launch this next year within each of | | | |------|--------| | **Site** | [https://nance.app](https://nance.app) | -| **Category** | Subscription fees. | -| **Value Prop** | Brokers access to the nance service. | +| **Business model category** | Subscription fees | +| **Organizational category** | Onchain | +| **Value prop** | Brokers access to the nance service. | | **$NANCE distribution** | TBD. | -| **Big Bet** | Onchain organizations often rely on governance processes to make decisions regarding shared resources. Nance offers a unique take on governance that encourages scheduled deliberation and voting periods, adding structure that standardizes expectations therefore minimizing risks of neglect or abuse.

As more organizations use Nance to facilitate their governance process, $NANCE will benefit from a subscription fee that keeps each organization's instance of the service running. | +| **Big bet** | Onchain organizations often rely on governance processes to make decisions regarding shared resources. Nance offers a unique take on governance that encourages scheduled deliberation and voting periods, adding structure that standardizes expectations therefore minimizing risks of neglect or abuse.

As more organizations use Nance to facilitate their governance process, $NANCE will benefit from a subscription fee that keeps each organization's instance of the service running. | | **Edge** | If tokenized governance continues to be a sought-after coordination exercise for online groups, Nance has a strong track record of helping organizations manage millions of dollars and is uniquely positioned to guide folks towards best practices that encourage participation while avoiding pitfalls of power struggle. | | **Risks** | Nance runs a server-based service, using crypto only for its users' data backups and for its own business model operations. This interaction of web2 and web3 is novel and lacks best practices, we're making intricate decisions involving tradeoffs as we develop tools such as Nance and revnets. | From d5424a8f7f07387e03eccacacd145f6e511c2e34 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:04:40 -0300 Subject: [PATCH 46/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 5bf9031..9a081c5 100644 --- a/memo.md +++ b/memo.md @@ -1,5 +1,5 @@ # Revnets | For Investors, Entrepreneurs, and Customers of Products and Services Monetized on the Open Internet -**Add value => grow revenue => become wealthy together.** +**Add value => grow revenue => become wealthy openly and welcomely together.** This memo makes the case for revnets. It is delivered in 3 parts: 1. **What's the big deal?:** Provides context about the problem and how revnets are positioned to play a role in shaping the future. From c93bd5c01fb27d3bf47515234f04efa386983dac Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:05:35 -0300 Subject: [PATCH 47/71] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 9a081c5..5a8ba05 100644 --- a/memo.md +++ b/memo.md @@ -46,7 +46,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: --- ![image](https://github.com/user-attachments/assets/da371e2b-e834-45ae-bd2e-db5242fc1dde) -## Part 1 – What's the big deal +## Part 1 – What's the big deal? ### 1.1 TLDR @@ -169,7 +169,7 @@ We're calling on partners who believe in this revenue-forward version of the ope --- ![image](https://github.com/user-attachments/assets/01ba051e-cb0d-4364-8539-76199512eed6) -## Part 2 – What are the terms +## Part 2 – What are the terms? ### 2.1 Overview From 6081aaebd9c2130b7dfa4d0139685a3e3193f3b9 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:10:02 -0300 Subject: [PATCH 48/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 5a8ba05..45cafba 100644 --- a/memo.md +++ b/memo.md @@ -293,7 +293,7 @@ _No more issuance. 10% of issuance and buybacks to Revnet Research Group. Cashin #### Accessibility -Anyone can pay into $REV at any time. It also is hardwired to receive a 2.5% network fee whenever someone cashes out from any revnet – thousands of digital vending machines plugged into the $REV vending machine. Both one-off payments and fees are treated the same and used to either issue new $REV from its revnet or buyback $REV from the market, depending on which is a better deal. +Anyone can pay into $REV at any time. It is also hardwired to receive a 2.5% network fee whenever someone cashes out from any revnet – thousands of digital vending machines plugged into the $REV vending machine. Both one-off payments and fees are treated the same and used to either issue new $REV from its revnet or buyback $REV from the market, depending on which is a better deal. We want to especially encourage investors to join who see potential use for revnets in other areas of their portfolios, and who can help the adoption of the revnet standard. From b5349a0c49132d2f006b286e755b3b08825de69e Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:21:37 -0300 Subject: [PATCH 49/71] Update memo.md --- memo.md | 17 +++++++++-------- 1 file changed, 9 insertions(+), 8 deletions(-) diff --git a/memo.md b/memo.md index 45cafba..da83860 100644 --- a/memo.md +++ b/memo.md @@ -60,7 +60,7 @@ Join us – a group of active Web3 builders with vivid stories to prove it – i ### 1.2 Overview -With today's societal demand for mobility, open source and openly accounted-for fundraises and revenues should outcompete everything by enabling: +With today's societal demand for mobility[^1], open source and openly accounted-for fundraises and revenues should outcompete everything by enabling: - **Scaled Participation:** Flexible and potentially global community with vested interests. - **Full Transparency:** Public code and accounting is more trustworthy and easier to cooperate with. @@ -90,7 +90,7 @@ We think revnets might be it: A win-win-win growth engine for investors, builder Revnets are easy to use, a bicycle for online economies. They resolve the three dilemmas above by creating openly accounted-for financial networks with clearly bounded risks that reliably benefit those who pay fees, invest, help the network grow and stick around. They are great for startups overcoming the cold start problem, and a great exit strategy for established organizations such as governance DAOs like UNI, ENS, ARB, JBX, and others who prefer tending towards autopilot growth benefiting all members. -Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, "the next generation for markets, the next generation for securities, will be tokenization of securities."[^1] We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, compensation, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. +Importantly, revnets aren't just an esoteric tool for obscure internet subcultures. Blackrock CEO Larry Fink and prominent others say the necessary and inevitable tokenization of everything will enhance the landscape of finance. As Fink puts it, "the next generation for markets, the next generation for securities, will be tokenization of securities."[^2] We have understood this for years. We think revnets will participate in the mainstream's vision by being the most productive structure for both large organizations and small businesses to tokenize revenues, fundraises, compensation, and financial partnerships globally. Revnets are the SAFE and C-Corp agreements of this economy, but 100x better. We're deploying a $REV revnet that'll earn 2.5% of all funds cashed out from fundraises and revenues from all revnets. We invite you to take part in $REV, the first 90 days favor grassroots investors on equal terms. We're also supporting the launch of revnets for ten other spectacular projects we've been working with, demonstrating how revnets are: @@ -150,7 +150,7 @@ Part 2 of this memo digs in deeper, and discusses how we are tuning the $REV rev Those of us developing revnets have been contributors to the Ethereum ecosystem over the past 4 years, most notably having helped build the Juicebox protocol, the juicebox.money app, and the Juicebox DAO community driven by the $JBX network. Juicebox is public infrastructure that provides a tokenized language for expressing various organizational financial guarantees. It has been fundamental to the making of Constitution DAO, Assange DAO, Shark DAO, Moon DAO, Cryo DAO, Juicebox DAO, the Tornado Cash developer legal defense fundraiser, and 1,331 other projects, facilitating over $185 million in ETH payments. -In this era of crypto and media networks that innovate on internet-native concepts, private corporate-stock models of centralized organization are anachronistic. We've experienced the demand for tokenized fundraising and revenue first hand, we know the tradeoffs of the tokenization tools at our disposal intimately well, and we know how cultural narratives around tokens work. We've been consistently one step ahead of the curve and steadfast in our values. +In this era of crypto and media networks that innovate on internet-native concepts, and with societal demand for mobility[^1], private corporate-stock models of centralized organization are anachronistic. We've experienced the demand for tokenized fundraising and revenue first hand, we know the tradeoffs of the tokenization tools at our disposal intimately well, and we know how cultural narratives around tokens work. We've been consistently one step ahead of the curve and steadfast in our values. We've also seen the negligence and gross extractive tendencies that over-leveraged entrepreneurs, investors, and traders can succumb to when left unchecked. Blockchains give us transactional freedoms – using them to progress positive-sum game-theoretic financial applications like revnets is non-trivial, while using them to manipulate the public with hyped-up zero-sum Ponzi schemes is easy and unfortunately all too common. @@ -204,9 +204,9 @@ Revnets unfold in stages. Each stage specifies five rules that dictate everythin | **Cash out tax** | How much does the revnet's next potential cash out increase each time a $TOKEN holder cashes out? | It inherits some useful properties from Juicebox V4: -- **AMM Liquidity:** If $TOKEN holders add liquidity to an AMM[^2]and it offers a better price than the revnet, the revnet will route incoming payments to that market instead of issuing new $TOKENs. The revnet's split is applied to these buybacks as well. +- **AMM Liquidity:** If $TOKEN holders add liquidity to an AMM[^3] and it offers a better price than the revnet, the revnet will route incoming payments to that market instead of issuing new $TOKENs. The revnet's split is applied to these buybacks as well. - **Multicurrency:** A revnet can accept and hold any number of assets received as revenue, though it defines its $TOKEN price in one consistent currency. If it issues 1,000 $TOKENs per ETH and the revnet is paid some USDC, $TOKENs are issued given the current USDC/ETH price. The revnet can be set up to either hold the USDC received and allow its $TOKEN holders to cash out from this balance, or auto-swap the USDC for an asset it prefers to hold. The network's $TOKENs are backed by the assets it chooses to hold, inheriting their risks and opportunities. -- **Omni-chain:** Revnets can grow to accept money on new EVM-compatible networks[^3] as they emerge, and also offer cash outs on those networks. Holders can move their $TOKENs between chains. When they do, the revnet automatically moves its assets so that the $TOKENs maintain their underlying value. +- **Omni-chain:** Revnets can grow to accept money on new EVM-compatible networks[^4] as they emerge, and also offer cash outs on those networks. Holders can move their $TOKENs between chains. When they do, the revnet automatically moves its assets so that the $TOKENs maintain their underlying value. #### Tuning @@ -493,6 +493,7 @@ Ethereum is one of a kind. We have incredible respect and gratitude for the work ![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) -[^1]: https://www.youtube.com/watch?v=D0ek2yv81Gk -[^2]: https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm -[^3]: https://ethereum.org/en/developers/docs/evm/ +[^1]: Increased demand for mobility due to mobile productivity, ease of airtravel, global media marketing, lifestyle desires, climate change risk mitigation, political preferences, the emergence of borderless money and identification, and likely other reasons. +[^2]: https://www.youtube.com/watch?v=D0ek2yv81Gk +[^3]: https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm +[^4]: https://ethereum.org/en/developers/docs/evm/ From ef63e58a520dbd72a614159631e7093fbc822e85 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:22:14 -0300 Subject: [PATCH 50/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index da83860..62c0bac 100644 --- a/memo.md +++ b/memo.md @@ -493,7 +493,7 @@ Ethereum is one of a kind. We have incredible respect and gratitude for the work ![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) -[^1]: Increased demand for mobility due to mobile productivity, ease of airtravel, global media marketing, lifestyle desires, climate change risk mitigation, political preferences, the emergence of borderless money and identification, and likely other reasons. +[^1]: Increased demand for mobility due to mobile productivity, ease of airtravel, internet-scale social networks, global media marketing, lifestyle desires, climate change risk mitigation, political preferences, the emergence of borderless money and identification, and likely other reasons. [^2]: https://www.youtube.com/watch?v=D0ek2yv81Gk [^3]: https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm [^4]: https://ethereum.org/en/developers/docs/evm/ From c74b5b6ea3ac24ec652cfe62d335b6142147ae83 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:23:18 -0300 Subject: [PATCH 51/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 62c0bac..389eb57 100644 --- a/memo.md +++ b/memo.md @@ -104,7 +104,7 @@ Projects will choose a revnet business structure when they prefer their outcome Think of revnets like a spicy Bitcoin halvening rule. Similar to Bitcoin, revnets are a fully pre-configured financial structure – although they can evolve over time, they do so according to rules that are set in place at the time of their creation. Unlike Bitcoin, the rules dont involve proof-of-work with periodic supply shocks that lead to a fixed supply of 21m coins over time. Revnets enforce a certain other set of guarantees affecting inflows and outflows of money. -These guarentees can be visualized as a digital vending machine that: +These guarentees can be visualized as a digital vending machine: 1. Receives dollar bills from a business's raised funds and revenues. 2. Dispenses its unique tokens (henceforth $TOKENs) and optionally digital artifacts (NFTs) in return. 3. The only way to access the dollar bills the machine has earned is to give it its $TOKENs back. From 58a65f2678c19c7bfa078ec262dc40537093d8af Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:24:41 -0300 Subject: [PATCH 52/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 389eb57..3e67af1 100644 --- a/memo.md +++ b/memo.md @@ -178,7 +178,7 @@ There are three entities at play: - **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. -It is important to also mention Juicebox DAO ($JBX), a community that has been instrumental to the research and development of revnets. +It is important to also mention Juicebox DAO ($JBX), the community instrumental to the research and development of revnets. In summary, they have the following relationships: - $REV's split is operated by RRG, described below. From 78bc5af57d5be70b5a57d8a6e67c804f5aaf01af Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:29:44 -0300 Subject: [PATCH 53/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 3e67af1..483fce0 100644 --- a/memo.md +++ b/memo.md @@ -201,7 +201,7 @@ Revnets unfold in stages. Each stage specifies five rules that dictate everythin | **$TOKEN Price** | **Starting price:** How much does it cost to buy a single $TOKEN when the stage begins? The payment's value stays within the revnet and can only be accessed by $TOKEN holders who cash out.
**Price increase:** How frequently, and by how much, does the $TOKEN's price increase within the stage? | | **Split** | What percentage of $TOKEN issuance (and buybacks) are set aside for a list of recipients, and which address is the split operator? The split operator can add, remove, or modify recipients on that list, changing how the split is allocated within the fixed percentage set for the stage. | | **Automint** | How many $TOKENs get minted to a list of recipients at the start of the stage? This functions like a "pre-mint" only accessible once the stage has started. | -| **Cash out tax** | How much does the revnet's next potential cash out increase each time a $TOKEN holder cashes out? | +| **Cash out tax** | How much does the revnet's next potential cash out increase each time a $TOKEN holder cashes out? This sets a cash out price that gets better as others cash out or new funds come in. The cash out tax is specified with a number 0-1, with 0.99 being the most intense tax and 0 being no tax. | It inherits some useful properties from Juicebox V4: - **AMM Liquidity:** If $TOKEN holders add liquidity to an AMM[^3] and it offers a better price than the revnet, the revnet will route incoming payments to that market instead of issuing new $TOKENs. The revnet's split is applied to these buybacks as well. From bc37cdb227f01dfe62f3d4306cc9d10ee2091283 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:30:10 -0300 Subject: [PATCH 54/71] Update memo.md From 2a70e283965e00e055bd803abe2c91aac2242296 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:30:28 -0300 Subject: [PATCH 55/71] Update memo.md --- memo.md | 1 + 1 file changed, 1 insertion(+) diff --git a/memo.md b/memo.md index 483fce0..a218d15 100644 --- a/memo.md +++ b/memo.md @@ -110,6 +110,7 @@ These guarentees can be visualized as a digital vending machine: 3. The only way to access the dollar bills the machine has earned is to give it its $TOKENs back. Revnets enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: + – **$TOKEN price:** There is always a price at which its willing to issue new $TOKENs, but it will forward inbound funds to an AMM offering a better rate than the issuance rate. This price can be set to change over time at a customizable rate. - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. - **Cash out price:** There is always a price at which its willing to distribute its revenue when it receives its $TOKENs back. Each cash out increases the value of the next cash out, by a customizable rate. From a03acbd8377c013bf55ba92bb32bbe2efa010d16 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:31:52 -0300 Subject: [PATCH 56/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index a218d15..7c3d0c4 100644 --- a/memo.md +++ b/memo.md @@ -111,7 +111,7 @@ These guarentees can be visualized as a digital vending machine: Revnets enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: -– **$TOKEN price:** There is always a price at which its willing to issue new $TOKENs, but it will forward inbound funds to an AMM offering a better rate than the issuance rate. This price can be set to change over time at a customizable rate. +- **$TOKEN price:** There is always a price at which its willing to issue new $TOKENs, but it will forward inbound funds to an AMM offering a better rate than the issuance rate. This price can be set to change over time at a customizable rate. - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. - **Cash out price:** There is always a price at which its willing to distribute its revenue when it receives its $TOKENs back. Each cash out increases the value of the next cash out, by a customizable rate. From 6128fae6c20cee0a48914671f7b6dbc3d6bb5ef1 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:33:04 -0300 Subject: [PATCH 57/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 7c3d0c4..dfe2397 100644 --- a/memo.md +++ b/memo.md @@ -220,7 +220,7 @@ Each revnet should consider its own unique circumstances when navigating the fol There is no such thing as an apriori ideal tuning of a revnets rules, just as there was never an apriori perfect Bitcoin halvening timeframe or fixed supply number. A successful tuning is one that manages to convey the right incentives – either on purpose or on accident – to stimulate growth over time. -A few effects to specifically note: +Three effects to visually note: 1. The scheduled $TOKEN price increases can cause exponential decay in issuance potential: image From 03676239cb86150f65a9ef4dd7d696a2b0949b23 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 00:38:45 -0300 Subject: [PATCH 58/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index dfe2397..9c23241 100644 --- a/memo.md +++ b/memo.md @@ -408,7 +408,7 @@ There are three categories of revnet businesses that we foresee in the near term We expect these business models to be initially used by three main categories of organizations: - **Onchain:** Revnets with zero split percentages, or split percentages going to multisigs and onchain DAOs. - **Campaign:** Revnets with a near-100% split percentage, useful for ongoing fundraises that prefer access to all the capital. -- **Hybrid:** Revnets with a split percent operated by a for-profit or non-profit corporation or association. +- **Hybrid:** Revnets with a split percent somewhere in the middle operated by a for-profit or non-profit corporation or association. A revnet can belong to any number of these categories, and grow into others over time as new ideas emerge and market preferences shift. $REV, for example, is best described within the "direct sales" category because it benefits from fees taken directly within the smart contract routines. From 2d0ac92212d445cb6bc07be5e7cf21aaf088972e Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 10:13:44 -0300 Subject: [PATCH 59/71] Update memo.md --- memo.md | 2 ++ 1 file changed, 2 insertions(+) diff --git a/memo.md b/memo.md index 9c23241..1a60c77 100644 --- a/memo.md +++ b/memo.md @@ -159,6 +159,8 @@ Revnets are the next step. They are an expression of the Juicebox language we kn Their time is now – revnets would be too fragile to exist if a rent-seeking fiduciary facilitating the handling of money and rules was required, and can only outcompete as an encoded contract between network participants enforced by the blockchain protocols of today. +We've been working on revnets conceptually since late 2023. They're now implemented and ready for showtime. + ### 1.5 Call to action Revnets can power millions of startups to become global movements, high net-worth interconnected economies, and retail-owned brands that outcompete traditional private alternatives, meanwhile helping incumbent businesses – for-profit and non-profit corporations and associations – transition to the more powerful open internet. From 9270ce0f22251db85f9857ef7a8bf6927ef998ae Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 10:16:47 -0300 Subject: [PATCH 60/71] Update memo.md --- memo.md | 6 ++++-- 1 file changed, 4 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 1a60c77..4d78a18 100644 --- a/memo.md +++ b/memo.md @@ -176,7 +176,7 @@ We're calling on partners who believe in this revenue-forward version of the ope ### 2.1 Overview -There are three entities at play: +Investors interested in getting involved in the promise of revnets should know there are three core entities at play: - **$REV:** A revnet. - **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. @@ -192,10 +192,12 @@ In summary, they have the following relationships: - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. - The above two points mean that each revnet's total cash out fee is 5%, with 2.5% going to $REV and 2.5% to $NANA. -Understanding the specific terms of the gameplan first requires elaborating on a revnet's anatomy. +This section will go through these specifics in detail. ### 2.2 Anatomy of a revnet | Advanced +Understanding the terms of the gameplan first requires elaborating on a revnet's anatomy. + Revnets unfold in stages. Each stage specifies five rules that dictate everything about how the revnet operates: | **Rule** | **Description** | From 80bd0d5e174764f59f5f911ecdaec3a009ec2292 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sat, 17 Aug 2024 10:17:17 -0300 Subject: [PATCH 61/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 4d78a18..629a874 100644 --- a/memo.md +++ b/memo.md @@ -176,7 +176,7 @@ We're calling on partners who believe in this revenue-forward version of the ope ### 2.1 Overview -Investors interested in getting involved in the promise of revnets should know there are three core entities at play: +Investors interested in the promise of revnets should know there are three core entities at play: - **$REV:** A revnet. - **Revnet Research Group, LLC (RRG):** The split operator of the $REV revnet to start. - **Revnet Fund 1, LLC (RF1):** A fund that interfaces between traditional limited partners and onchain revnets. From 63621d3cdfdded7c2ca72c7e19bd72652f60aafd Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 18 Aug 2024 09:50:25 -0300 Subject: [PATCH 62/71] Update memo.md --- memo.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/memo.md b/memo.md index 629a874..198a825 100644 --- a/memo.md +++ b/memo.md @@ -410,11 +410,11 @@ There are three categories of revnet businesses that we foresee in the near term - **Memetic:** These revnets' tokens are sought because holders believe in the network's capacity to aggregate attention and cultural relevance, or because the tokens serve a secondary purpose like signaling loyalty. We expect these business models to be initially used by three main categories of organizations: -- **Onchain:** Revnets with zero split percentages, or split percentages going to multisigs and onchain DAOs. -- **Campaign:** Revnets with a near-100% split percentage, useful for ongoing fundraises that prefer access to all the capital. -- **Hybrid:** Revnets with a split percent somewhere in the middle operated by a for-profit or non-profit corporation or association. +- **Onchain:** Revnets with zero split percentages, or split percentages going to onchain multisigs and onchain DAOs with no offchain organizational considerations. +- **Hybrid:** Revnets with a split percent operated by a traditional for-profit or non-profit corporation or association. +- **Campaign:** Revnets with a near-100% split percentage, useful for ongoing fundraises that prefer access to all the capital for affecting a specific set of causes. -A revnet can belong to any number of these categories, and grow into others over time as new ideas emerge and market preferences shift. $REV, for example, is best described within the "direct sales" category because it benefits from fees taken directly within the smart contract routines. +A revnet can belong to any number of these categories, and grow into others over time as new ideas emerge and market preferences shift. $REV, for example, is best described within the "direct sales" category because it benefits from fees taken directly within the smart contract routines, and is a "hybrid" structure with RRG as the split operator. There are likely other strategies for using revnets that we've yet to explore in depth. From b026e1dd20a2d47c65cc305153b60cf54b1071a8 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 18 Aug 2024 09:51:31 -0300 Subject: [PATCH 63/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 198a825..7056913 100644 --- a/memo.md +++ b/memo.md @@ -498,7 +498,7 @@ Ethereum is one of a kind. We have incredible respect and gratitude for the work ![image](https://github.com/user-attachments/assets/38465715-5f4e-4c9d-8259-4595959447be) -[^1]: Increased demand for mobility due to mobile productivity, ease of airtravel, internet-scale social networks, global media marketing, lifestyle desires, climate change risk mitigation, political preferences, the emergence of borderless money and identification, and likely other reasons. +[^1]: Increased demand for mobility due to mobile productivity, ease of travel, internet-scale social networks, global media marketing, lifestyle desires, climate change risk mitigation, political preferences, the emergence of borderless money and identification, and likely other reasons. [^2]: https://www.youtube.com/watch?v=D0ek2yv81Gk [^3]: https://docs.uniswap.org/concepts/uniswap-protocol#order-book-vs-amm [^4]: https://ethereum.org/en/developers/docs/evm/ From c8b4e9ba6d27213606fac7cb9db6e6e6c81e6a55 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Sun, 18 Aug 2024 23:53:51 -0300 Subject: [PATCH 64/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 7056913..38b3323 100644 --- a/memo.md +++ b/memo.md @@ -82,7 +82,7 @@ Auto-enforceable blockchain agreements are the correct building block on which t - **NFT memberships:** Rare tokenized artifacts whose value will speculatively increase as the issuing entity becomes popularized, but with no liquidity apart from exhausting pump and dumps. - **Custom mechanisms:** Custom tokenization dynamic with a unique set of coded rules that attempt to fulfill a desired set of outcomes, but requiring everyone to learn a new jargon-filled system and trust that it is implemented bug free. - **Grants and donations:** No tokenized monetization strategy, just builders and investors with an expectation that their value creation, if done openly, will be retroactively rewarded by altruists who directly benefited from the outcomes. -- **No progress:** Take investments and fees to a centralized wallet to operate from, as usual. +- **No progress:** Take investments and fees to a centralized wallet to operate from just like traditional capital structures, with no networked benefits from the tools at our disposal. We need a better place to put our money. A revenue-forward growth-oriented solution that is sustainable, reliable, simple, and massively scalable to help every value-creating business with an online growth presence – local and global – realize their potential in the upcoming tokenized economy. From ae4a48980aef07c2205f2d43b3ffa2c5eb0c4af6 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Wed, 21 Aug 2024 18:36:13 -0300 Subject: [PATCH 65/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 38b3323..3711c78 100644 --- a/memo.md +++ b/memo.md @@ -374,7 +374,7 @@ More about RF1 soon. Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). -### 2.6 Investor FAQ +### 2.6 FAQ #### Should I invest in RRG, $REV, or...? From adc757fa602222a1b2e72a86b34ab771d75b0fcc Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Wed, 21 Aug 2024 18:38:28 -0300 Subject: [PATCH 66/71] Update memo.md --- memo.md | 17 +++++++++++++++++ 1 file changed, 17 insertions(+) diff --git a/memo.md b/memo.md index 3711c78..42b45df 100644 --- a/memo.md +++ b/memo.md @@ -33,6 +33,7 @@ This memo makes the case for revnets. It is delivered in 3 parts: - [Spend](#spend) - [2.5 RF1](#rf1) - [2.6 FAQ](#faq) + - [How would revnets work in the context of traditional capitalization structures?](#how-would-revnets-work-in-the-context-of-traditional-capitalization-structures) - [Should I invest in RRG, $REV, or...?](#should-i-invest-in-rrg-rev-or) - [What are the risks I should be aware of?](#what-are-the-risks-i-should-be-aware-of) 3. [Part 3 – What do they look like?](#part-3--what-do-they-look-like) @@ -376,6 +377,22 @@ Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). ### 2.6 FAQ +#### How would revnets work in the context of traditional capitalization structures? + +Revnets can complement and enhance traditional equity structures, making them applicable not only to crypto-native companies but also to more conventional corporations and organizations. + +Corporations and associations like C-Corps, LLCs, UNAs, DAOs, and 501(c)(3) nonprofits can benefit from their own revnet. By involving customers and community members as active participants in their growth, these entities can drive new revenue streams and increase engagement. For instance, a traditional company could hold revnet tokens, aligning the success of the revnet with its own financial performance. + +These organizations can act as both token holders and split operators. As a token holder, a corporation benefits directly from the growth of the revnet, as its tokens appreciate in value. As a split operator, the organization can determine how much control it wants over the token supply: + +- **Full control:** The organization could set up the revnet to receive 100% of the tokens, allowing it to maintain full control over the token distribution and benefits. +- **No Control:** Alternatively, it could choose to receive 0% of the tokens, relinquishing control to the broader community to encourage decentralized growth. +- **Partial control:** The organization might opt for a middle ground, controlling a portion of the token supply for a set period. + +This flexibility allows traditional organizations to tailor the revnet to their specific needs and goals. + +Revnet Research Group (RRG) exemplifies this approach by taking a 40% split of the $REV revnet. This means RRG retains a significant stake in the revnet's growth while leaving 60% of the tokens to the broader community, incentivizing collective participation and shared success. + #### Should I invest in RRG, $REV, or...? There are four core entities in play: $REV, RRG LLC, RF1 LLC, and JuiceboxDAO ($JBX). From a1c5ed0492ce17197d1abeecdb30786b95b252bb Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Wed, 21 Aug 2024 18:44:06 -0300 Subject: [PATCH 67/71] Update memo.md --- memo.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/memo.md b/memo.md index 42b45df..d418a47 100644 --- a/memo.md +++ b/memo.md @@ -381,7 +381,7 @@ Learn more and reach us from RRG at [rev.eth.sucks](https://rev.eth.sucks). Revnets can complement and enhance traditional equity structures, making them applicable not only to crypto-native companies but also to more conventional corporations and organizations. -Corporations and associations like C-Corps, LLCs, UNAs, DAOs, and 501(c)(3) nonprofits can benefit from their own revnet. By involving customers and community members as active participants in their growth, these entities can drive new revenue streams and increase engagement. For instance, a traditional company could hold revnet tokens, aligning the success of the revnet with its own financial performance. +Corporations and associations like C-Corps, LLCs, UNAs, DAOs, and 501(c)(3) nonprofits can benefit from their own revnet by involving customers and community members as active participants in their growth. The revnet can be used to drive new revenue streams, increase engagement, and aligning the success of the revnet with its own financial performance. These organizations can act as both token holders and split operators. As a token holder, a corporation benefits directly from the growth of the revnet, as its tokens appreciate in value. As a split operator, the organization can determine how much control it wants over the token supply: @@ -389,7 +389,7 @@ These organizations can act as both token holders and split operators. As a toke - **No Control:** Alternatively, it could choose to receive 0% of the tokens, relinquishing control to the broader community to encourage decentralized growth. - **Partial control:** The organization might opt for a middle ground, controlling a portion of the token supply for a set period. -This flexibility allows traditional organizations to tailor the revnet to their specific needs and goals. +This flexibility allows traditional organizations to tailor the revnet to their specific needs and goals. Meanwhile, the revnet remains resiliant to being rugged by the entity, as doing so will incure the exit tax and benefit remaining holders most. Everyone involved is incentivizes to grow the revnet, even if there also exits other incentives alongside to grow a for-profit or non-profit traditional organization – in ideal cases these go hand-in-hand. Revnet Research Group (RRG) exemplifies this approach by taking a 40% split of the $REV revnet. This means RRG retains a significant stake in the revnet's growth while leaving 60% of the tokens to the broader community, incentivizing collective participation and shared success. From b6435e5c326bd10f1f60599ef2e4b944b91fe1db Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Wed, 21 Aug 2024 19:11:16 -0300 Subject: [PATCH 68/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index d418a47..822e964 100644 --- a/memo.md +++ b/memo.md @@ -112,7 +112,7 @@ These guarentees can be visualized as a digital vending machine: Revnets enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: -- **$TOKEN price:** There is always a price at which its willing to issue new $TOKENs, but it will forward inbound funds to an AMM offering a better rate than the issuance rate. This price can be set to change over time at a customizable rate. +- **$TOKEN price:** There is always a price at which its willing to issue new $TOKENs, but it will forward inbound funds to an AMM offering a better rate than the issuance rate if one exists. This price can be set to change over time at a customizable rate. - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. - **Cash out price:** There is always a price at which its willing to distribute its revenue when it receives its $TOKENs back. Each cash out increases the value of the next cash out, by a customizable rate. From be0f987d3265eb6cf93c0ab8dae1c0c72c0412d4 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Wed, 21 Aug 2024 19:14:07 -0300 Subject: [PATCH 69/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 822e964..072f87c 100644 --- a/memo.md +++ b/memo.md @@ -186,7 +186,7 @@ It is important to also mention Juicebox DAO ($JBX), the community instrumental In summary, they have the following relationships: - $REV's split is operated by RRG, described below. -- RRG makes, secures, and markets tools that help make $REV more successful. +- RRG makes, secures, and markets tools that help make $REV and other revnets more successful. - RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other renvet $TOKENs it believes in. - Juicebox DAO makes, secures, and markets the Juicebox v4 protocol with which all revnets are expressed. - Each revnet pays a 2.5% cash out fee to $NANA – the fee-token of Juicebox V4 broadly held by Juicebox DAO. From 69e382e7fa9a0822a1f7954724e8c77619f641c1 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Wed, 21 Aug 2024 19:14:36 -0300 Subject: [PATCH 70/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 072f87c..9b3c660 100644 --- a/memo.md +++ b/memo.md @@ -187,7 +187,7 @@ It is important to also mention Juicebox DAO ($JBX), the community instrumental In summary, they have the following relationships: - $REV's split is operated by RRG, described below. - RRG makes, secures, and markets tools that help make $REV and other revnets more successful. -- RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other renvet $TOKENs it believes in. +- RF1 takes in dollars from investors and limited partners, then converts to crypto for allocating to $REV and other revnet $TOKENs it believes in. - Juicebox DAO makes, secures, and markets the Juicebox v4 protocol with which all revnets are expressed. - Each revnet pays a 2.5% cash out fee to $NANA – the fee-token of Juicebox V4 broadly held by Juicebox DAO. - $NANA operates as a revnet, meaning it pays a 2.5% cash out fee to $REV like all other revnets. From db4dfc33ea13fe0cf228795a59eff784c8b2ca37 Mon Sep 17 00:00:00 2001 From: jango <77952627+mejango@users.noreply.github.com> Date: Wed, 21 Aug 2024 19:20:03 -0300 Subject: [PATCH 71/71] Update memo.md --- memo.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/memo.md b/memo.md index 9b3c660..32b7708 100644 --- a/memo.md +++ b/memo.md @@ -112,7 +112,7 @@ These guarentees can be visualized as a digital vending machine: Revnets enforces three main customizable rules that can be preset to change over time, but whose sequence is fixed once set: -- **$TOKEN price:** There is always a price at which its willing to issue new $TOKENs, but it will forward inbound funds to an AMM offering a better rate than the issuance rate if one exists. This price can be set to change over time at a customizable rate. +- **$TOKEN price:** There is always a price at which it is willing to issue new $TOKENs, and it will instead forward inbound funds to an AMM offering a better rate than the issuance rate if one exists. This price can be set to change over time at a customizable rate. - **$TOKEN split:** The purchase of $TOKENs can split some off to a privileged account. This split percent can be set to change over time at customizable intervals. - **Cash out price:** There is always a price at which its willing to distribute its revenue when it receives its $TOKENs back. Each cash out increases the value of the next cash out, by a customizable rate.