A place for talking about the Ethereum Virtual Machine on Farcaster.

Idea: Yielding Membership Bonds (Generalized Edition)

Let's say we have a service that charges $5/yr membership, call it Carpwast.

We could have a generalized contract (call it YieldingAAVEUSDCBond) that we'd call to bond 100 USDC with Carpwast as the yield recipient; the contract gives us an NFT like UNIv3; Carpwast would check for a valid bond NFT on authenticating (correct cost basis, correct yield recipient); and over a year Carpwast would collect the ~5% interest.

- At any time, we can take out our collateral and the membership implicitly ends, permissionlessly!
- Carpwast can claim the earned interest at any time, or auto-claims on exit.
- IANACPA but I assume no tax implication for us (basically a loan), Carpwast gets income on claim.
- One general contract could serve any number of services (opening a bond needs to specify the yield recipient and correct collateral amount).
- Collateral can change over time (as yield shifts), maybe grandfather old accounts, maybe request reups.

Ʉnlock is an open source Ethereum protocol for memberships & subscriptions! 

Have an event or meetup? Check out http://events.unlock-protocol.com


A doodler and computerer. I like permissive/permissionless open source, smart contracts, p2p systems, room-scale VR, and NixOS.

shazow.net

Currently: WhatsABI

Very cool, much more slick than when I first tried it!

Making a sub just to test it out: https://app.unlock-protocol.com/checkout?id=73d57d3f-c315-438a-b1e8-77b27b969342

I like how it lets you use whatever token you have and autoswaps.

Great job @julien51.eth 

(Of course doesn't use the yield technique in op)

Building and having fun

coinkontrol.com | zyield.fi | monkeyvault.net

I'm debating whether it would be even better to just have a generalized AAVE-style deposit (deposit any amount, this is your savings now) but you get to allocate subsets of your yield to others.

Put in $5000 of collateral that you're saving, that's $20/mo worth of subscription budget for free?

Would create more stable payments, but might be more tax-contentious? Not sure.

This is interesting, you not only get the service for free but also solve recurring billing. The only annoyance would be having to increase the collateral when yield falls below the membership price.

Dad, geek, conversation liquidity provider. vrypan.net (home), /weatherxm (work), @l--o--l (fun). Also https://paragraph.xyz/@purplesubmarine

So many reasons!
1. Tried and true business model used for banks, now possible by anyone.
2. Disintermediate subscription state, no longer do we need to beg to cancel a subscription.
3. More tax efficient, especially if we use non-stables as collateral.
4. Maybe lending vs paying is more psychologically attractive to customers? Needs to be tested.
5. Less bespoke infrastructure to build for a subscription service with recurring billing, could be a common public good contract onchain that everyone uses.

Can probably think of some others. Is this not compelling?