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Mike | Abundance pfp
Mike | Abundance
@abundance
Much like Newtonian physics, the market economy works phenomenally well within certain parameters. But once you're outside those parameters the system starts to fail. For the market this “classical boundary" is scarcity – without which the laws of supply & demand don't work. The problem is that the more we move into the digital realm – and then add exponential tech on top of that – the more failures we’ll see in our institutions and markets. This is not a process that can be reversed. We’re not going to stop technological progress. Just like w physics – where we needed a new paradigm to explain what Newton could not – we’ll need a new economic paradigm for abundant resources, to augment our current scarcity-based economic model. This, incidentally, was the subject of a book I authored earlier this year called The Abundance Economy (available for free at book.abundance.id)
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ProductShare DAO pfp
ProductShare DAO
@productshare
Hi Mike! I just finished reading The Abundance Economy, and wow—it’s right on the money! This is exactly what we’ve been working on at @productshare, but from a more practical standpoint. Your elegant abstraction of abundance principles aligns perfectly with our mission. In fact, you could say we’re basically implementing the model you’ve described. I'd love for you to check out our original litepaper, where we explore similar ideas in the context of creating an equitable, community-governed e-commerce platform. I think you’ll see some exciting parallels! https://myps.link/litepaper Looking forward to hearing your thoughts!
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Mike | Abundance pfp
Mike | Abundance
@abundance
Hey @productshare could you share more on the mechanism behind this e-commerce platform?
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ProductShare DAO pfp
ProductShare DAO
@productshare
Here’s a bit more detail about how ProductShare operates. ShareCash is at the heart of our system. It’s a stable digital asset minted only when we accept fiat payments, meaning that the ShareCash supply always equals the balance of our Reserve bank account. This ensures a 1:1 backing with USD reserves, providing transparency and stability. When users want to convert their ShareCash back into fiat, the DAO facilitates an off-ramp, burning ShareCash and executing a fiat ACH transfer to the user’s bank. Cashback Model Our cashback mechanism is two-fold and incentivizes social sharing: Instant Cashback: After a purchase, customers can share the product. Both the customer and vendor split 1% of the transaction value in PSS (our governance token), which is automatically purchased from DEX liquidity. Conditional Cashback: If someone from the customer’s network clicks their share link and purchases the same product, the original buyer receives a one-time cashback of 50%-100% of their transaction value.
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Mike | Abundance pfp
Mike | Abundance
@abundance
Interesting! I'm not sure how this systems "implements the model" of the Abundance Protocol though. Does it create effective feedback loops for public goods creation?
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ProductShare DAO
@productshare
Great question! Beyond our current model, where PSS holders vote on sustainable products and public good initiatives, we’re also thinking about ways to deepen community involvement in creating new products and initiatives. StakeShare Grants for New Initiatives: We’re exploring how StakeShare holders can propose and fund new public good projects, with the community voting on which ideas get support. This would let stakeholders have a more direct role in shaping which public goods are created. ProductStaking for New Product Creation: We’re also working on ProductStaking to not only back existing products but to fund the creation of new ones. People could stake ShareCash into product ideas they believe in, essentially voting with their funds on what they want to see developed.
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ProductShare DAO pfp
ProductShare DAO
@productshare
Both approaches create strong feedback loops for new products and public goods, with the community driving what gets built. I think it aligns nicely with the Abundance Protocol’s focus on feedback loops for public goods creation. Would love to know your thoughts!
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Mike | Abundance pfp
Mike | Abundance
@abundance
Can people get funded for projects that contribute to your ecosystem without it being initiated by the community? Also, where does the funding come from?
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ProductShare DAO pfp
ProductShare DAO
@productshare
Yes, people can get funded for projects that contribute to the ProductShare ecosystem without needing to have the project initiated by the community. StakeShare (PSS), the governance token of ProductShare, plays a critical role in this process by empowering its holders, including community members, to propose or support projects through the ProductShare DAO. Funding for these projects typically comes from the decentralized governance model of ProductShare, where profit generated from the platform is distributed equitably among three key stakeholder groups: the *Customers and Community*, the *Co-Creators Collective*, and *Charitable Causes*. Each group receives 33.33% of the platform’s net profits. Community projects, research, and humanitarian programs fall under the Charitable Causes group, which is funded through this profit-sharing model
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ProductShare DAO pfp
ProductShare DAO
@productshare
Stakeholders who hold StakeShare can propose and vote on initiatives that align with the ecosystem's vision, ensuring that funding is allocated transparently and fairly through smart contracts. checkout the original protocol design here: https://myps.link/litepaper
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