Subscription Based Tipping System Built into Polkadot J.S

Introduction

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.

Problem!

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.

Solution!

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.

Conclusion

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!

1 Like

Hi TheeWeb3Patriot, thanks for the write up :slight_smile:

I believe that Subsocial have just launched something which is similar to what you’re proposing (by end result rather than technical solution) that might be worth checking out → Support Favorite Creators And Receive Tokens!

I checked that out it’s not the same give they require a [$SUB] token and I’m talking subscription-based tipping especially with compound stake rewards via [$Dot] not an alternative token. Also, key difference is what I’m suggesting should be built into Polkadot J.S.

It’s an interesting concept but idk if that way will fix the content creator issue since it is heavily reliant on $SUB correct?

1


10

@TheeWeb3Patriot This is extremely similar to the vision we are trying to build for a content ecosystem at @Polkassembly!

We believe we can improve the outreach that content providers are trying to achieve while leveraging our tipping infrastructure.

In terms of the staking, subscription and technical details mentioned, we might vary on our implementation but with the community’s support we could build this right into Polkassembly’s ecosystem and drive a lot of more visibility for creators.

We support this and are happy to provide grounds for experimentation for anyone who would like to build on top of it :smile:

2 Likes

Will your design have a token attached to it? Or will it utilize $Dot? I’m curious to know more. Since I currently lack the skills as a dev to do this myself, I’m interested in getting into contact with some devs that may have insight on how to do a practical implementation of something like this. If you have any parity connections I would love to utilize them!

Also if you have any dev connections let me know?