Squad Goals! 💪 RFC [Community Project]

What:

  1. Create a fun product for group goal setting with skin in the game via a no loss lottery.

    a.Educating normies about NFT, DeFi & crypto during the journey.

  2. Build underlying technology for the smallest atomic unit of “skin in the game” cooperation for web3.

Example User Story:

  1. Person mints an NFT that represents a goal. Locking up funds.

  2. Person invites friends to do the same ( each person with dif goals and $ amounts )

  3. A group of goal NFT’s get grouped into a “Squad Goal”, an NFT of NFT’s. ( or contract idk )

  4. When time is up the “Squad” all vote on whether person x in group met their goal. ( i.e. Jim didn’t get his shit done so I vote he didn’t )

  5. People who completed their goal auto mint a “Success” NFT and are entered into the lottery. ( Possibly pass for club / dao / gov for goal oriented people in future )

Defi Mechanics:

  1. All staked funds are put into defi during staking period.
    a. Staked yields go towards:

    1. Product team ( monetization, building etc )
    2. Lottery
  2. Everyone gets their staked funds back.
    a. This increases the number of people willing to commit and removes human risk since we leverage no oracles for proof etc.

  3. Success NFT owners are entered into lottery
    a. Humans love variable rewards.

  4. Unsuccessful people get their money staked for an extra x time period and have no chance to win the lottery. ( more pain without loss other than optionality ) Money released in the future automatically.

Obviously riffing on https://pooltogether.com/ no loss lotteries ( and science! )

Why - Consumer:

Every year millions of people set out on January 1st to become smarter, richer, sexier and better in an abundance of ways. :nail_care:

Most fail. Most give up…

But humans are awesome! They just need help.

Niche accountability groups are a thing that have existed for ages to combat our fallible nature.

Tools for “skin in the game” where you either do the work or lose money are also not new.

Examples:

https://www.dip.chat/ ( post dev update every day or lose $5 / day )

https://gofuckingdoit.com/ ( wager money you will complete a goal from @levelsio )

We can use web3 to help humans achieve their goals, and at the same time introduce them to NFT’s, DeFi, and crypto in a fun way. :tada:

Why - Underlying Tech:

Gnosis is awesome but heavy duty, so is Juicebox.

What’s the smallest useful primitive for the collaborative money ecosystem?

How can web3 empower collaboration with humans over a broad range of goals and applications easily and in an ad-hoc way?

→ A Squad Vault. ←

A simple contract / nft that can be leveraged to create skin in the game for people to collaborate and provide variable rewards and monetization via no-loss lottery.

There are many purposes one can use the underlying technology for to incentivize humans to work collaboratively and with ferver.

Possible use cases:

  1. I want to take 2 or 3 people and work on a web3 bounty that should take a week. I need to assemble a team of people I may not really know ( yet ) so we vault funds.
  2. I am investigating starting a company with another human but not ready to incorporate. We agree to vault funds and investigate.
  3. Someone wants to work with a mentor to boost their skills. Mentees and mentors can agree to vault funds.
  4. Some people want to do a raid in a video game. But need to join forces with people they don’t really know yet. They agree to vault funds.
  5. Ten people want to clean up a highway in their town. They can agree to vault funds.
  6. Cohort learning group decides to vault funds.
  7. A DAO wants to onboard a human but do it slowly and predictably so they both vault funds and membership happens after successful trial.

How:

  1. Build consumer product as web app build tech to power it.
  2. Audit the thing and externalize underlying tech so it can be used by ecosystem.

Need to determine tech stack.

Need to get devs who know way more than myself to be interested in building.

Could leverage a grant from Solana etc for education play, hop on other chains after. This seems to be a trend and we want a low txn fee chain that is easily accessible. SOL is on Coinbase.

EVM compatibility might be way smart, would have to investigate what previously audited paths to staking Yield in DEFI are available to make that as easy as possible for v1 with lowest risk.

2022 seems like it will be a very fun year in ETH ecosystem.

Looking over Gnosis, Pooltogethor, Juicebox contracts is a no brainer. Probably can’t fork really.

What do you think?

2 Likes

Seems good. Web2 has the road already well beaten in the incentive structures (as you’ve taken) as well as loss avoidance/prevention.

Certainly would want to run with the tools already in the market as much as possible, or at least their open source contracts.

Would be worth looking at Chainlink functionality, as some of your examples are (rigthfully) 2 party interactions - and how do you resolve a split vote there? Better to have some agreed upon source of truth, if possible.

Good point on two people and leveraging anything else that exists. I have versions of this in my mind that made the smallest group 3 people to “solve” for this.

1 Like