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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
@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
@abundance
Hey @productshare could you share more on the mechanism behind this e-commerce platform?
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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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ProductShare DAO
@productshare
Here is an article that covers how this all fits with DeFi and conscious capitalism theories: https://myps.link/article-2024-09-07
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ProductShare DAO
@productshare
ProductStaking We’re also developing ProductStaking, an extension of the ProductShare protocol. It allows users to stake ShareCash into specific products and earn a portion of the profits, proportional to the marketing budget allocated to that product. This system further supports the discovery of successful, sustainable products while offering users the potential for higher yields compared to traditional DeFi staking of stablecoins. You can dive deeper into ProductStaking in our whitepaper draft here: https://myps.link/productstake. Looking forward to your thoughts!
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ProductShare DAO
@productshare
Stakeholder Groups & Profit Distribution ProductShare aligns incentives by distributing profits to three stakeholder groups via PSS: Customers Vendors Community Contributors The distribution of PSS is proportional, ensuring that all groups are rewarded fairly for their contribution. This helps align everyone’s interests in the long-term growth and sustainability of the platform. Tokenomics & Public Goods Our PSS governance token not only serves for profit sharing but also empowers the community to vote on Public Good initiatives. Approved initiatives receive a 1.1M PSS grant, which, although vested, provides a renewable income source through dividends. This allows Public Good projects to create sustainable, long-term funding without constantly seeking new capital.
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