Hello, fellow DotSama community members,
I am Fetty.Dot, also known by the alias “TheeWeb3Patriot.” I have been a part of DotSama since early 2021 and have redoubled my commitment to learning Rust in the hope of contributing to this multichain infrastructure. I envision a future where true interoperability is achieved among Layer 0 (L0) and Layer 1 (L1) blockchains, leading to what we call the “Internet of Blockchain,” the backbone of Web3 Gavinism. Recently, OpenGov was released on Polkadot, but its currently facing challenges related to funding content creators. From the Kus to the current lack of agreement among Kryptoschain’s (referendum 213), the DotSama community remains divided. I am not here to take sides but to propose a solution that benefits DotSama as a whole.
The current issue revolves around how content creators should be funded. Many content creators believe that they should receive funding from the Polkadot Treasury, arguing that platforms like YouTube do not adequately compensate them for their work. However, there is opposition to this idea, with concerns that it may not be a sustainable practice and could potentially open the door for individuals looking to exploit OpenGov during its infancy. Additionally, there are concerns about the quality of content not receiving appropriate funding, often due to exorbitant funding requests. It’s common sense that content creators should provide analytics for any spending request, ensuring transparency.
My proposed solution to this problem is for DotSama to introduce a built-in subscription tipping system within Polkadot J.S (and other infrastructures) that allows nominators and validators to tip their staking rewards, even if they are actively compounding those rewards. This system would enable DotSama members to allocate a portion of their compounded stake to support their favorite content creators. For example, if someone like James receives 1 $Dot daily, with all of it being compounded, he could utilize the subscription tipping system to support content creators like @Kryptoschain, allocating a specific percentage for a defined duration (e.g., x% of stake rewards for x number of days, weeks, or months). This feature can be adjusted at the nominator’s or validator’s discretion, ensuring that content quality remains a priority. Transparency can be maintained through on-chain identity verification, and content creators can provide analytics via platforms like X or on-chain content trackers. Additional features such as oracles can be considered in the future.
Why staking rewards? Because individuals are more likely to tip their passive stake rewards than their actual investments. Given recent voting trends, many accounts, including large stakeholders like 16DG and 1649, would likely utilize this feature to support content creators. This approach not only eases the burden on the treasury but also provides a revenue stream for content creators, while maintaining the importance of content quality.
I believe that this feature would be a valuable addition to DotSama. While I lack the programming expertise to build it myself, I am confident that, with the support of the DotSama community, we can propose and implement it through OpenGov. Let’s work together to make a positive change and put an end to internal conflicts. Please share your feedback, and let’s move forward with this idea. TheeWeb3Patriot signing off!