Engaging, understanding and empowering different perspectives and varying visions is key to building collaborative, productive and resilient communities over the long term. As scale increases, so does the challenge of maintaining coherance, alignment and knowledge transfer, which in turn leads to challenges with advancing or even sustaining collective intelligence.
This inevitably leads to upper limits on the alignment and the effectiveness of a group, the stagnation of once energetic and worthwhile initatives and the inevitable decay of community culture.
Throughout history, social groups have kept records of debts and credits through oral, symbolic, pictoral or numeric ledgers, that have in turn formed the operating system for culture.
Culture is an umbrella term which encompasses the social behavior, institutions, and norms found in human societies, as well as the knowledge, beliefs, arts, laws, customs, capabilities, and habits of the individuals in these groups. Wikipedia
For the last 200 years, the company alongside limited liability, has been the primary engine room for culture, however companies are inventions of the nation state and are therefore tied to geographic boundaries. In a networked world, their ability to create and extract value has never been more potent and has led to vast data monopolies and the subsequent centralisation of wealth and power.
When the current attention based incentives of social media are matched to tokens, there is an even greater potential for virality, whilst recent advances in AI now allow anyone, to fake anything, ensuring our passage into an ever weirder world, where what is real is in ever greater doubt.
Blockchain based systems are the most recent addition to humankinds attempts to scale collective intelligence - aka creativity.
At the core of these systems are triple entry accounting systems that incentivise participants to append, verify and timestamp a shared ledger - essentially giving them a state they can all agree to be true at any point in time, without needing to trust the other parties honesty.
Network security guarantees are the core value proposition of public blockchains, however this primary (and necessary) design focus leads to downstream issues when it comes to coordinating contributors within on-chain based organisations (aka DAOs) and the ability to advance collective intelligence.
Fungible treasuries denominated in the native token of a network appear wealthy in fiat terms ($24 billion and counting), however as projects are funded, teams liquidate tokens into working capital which creates natural sell pressure.
Without sustained network adoption and meaningful value accrual, networks will be repriced, slowly, then suddenly.
A chicken and egg situation results - the networks must spend to drive adoption, but must also contend with a gradually diminishing token price in the absence of new demand drivers for their core value proposition.
- Identity
- Value accrual
Kusama core value proposition is offering security-as-a-service priced in KSM to independent, but interoperable parachains. This separation of church and state, allows the networks to focus on their own specific creative context, whilst maintaining communication across a wider ecosystem in a trust-less manner.
Kusama's primary objective is to sustain and scale this security offering through continued uptime assurances to bonded networks.
Since Kusama's security guarantees are tied to the cost of attacking the network, therefore in simple terms the higher the price, the more secure the network. However the inverse is also true, as the price falls, so do the guarantees.
Kusama's price - and subsequent treasury account has been bootstrapped by demand from parachains acquiring and locking up KSM within a competitive auction environment that was driven by a bull-market with both venture capital and retail speculation.
With demand for parachain slots falling 99% from peak and vanishingly little adoption of the bonded networks, there is a KSM demand crisis on the horizon.
Parachains are now able to purchase or renew slots for less than 100 KSM ($2000), whilst the failure of larger projects ensures large quantities of KSM will be released to the original backers, further depressing the network's valuation and core value proposition.
A few strategies remain to drive demand and the subsequent lock up of KSM:
- Reignite interest and competition around slot auctions
- Offer security-as-a-service to many small teams whose aggregate demands backfill valuations
- Expand the secondary utility of KSM to token-holders through new creative ventures
- Diversify KSM's treasury into an uncorrelated but incentives aligned reserve of on-chain assets
Kabocha's core value proposition is as an on-chain media-lab, providing support infrastructure, tooling and talent to creator communities, their fans and their sponsors who collaborate together on experimental projects that push the frontiers of this new technology.
The blockchain is a Kusama parachain bootstrapped via a series of on-chain proposals delivered by a diverse set of contributors and coordinated by Decent Partners.
Kabocha has a broad and fair distribution based on a snapshot of Edgeware.
It has no lead team, legal entity and its token is transferable but unlisted.
Without the need to bootstrap security, nor deliver fast returns to investors, Kabocha has no short-term listing imperative. This removes the distraction of 24/7 speculation on the value of the token, allowing the network's contributors to focus on establishing a more experimental and optmistic creative culture that can support Kusama's security priorities.
It has been designed to drive direct participation, collaboration and experimentation to deliver sustainable on-chain adoption.
Existing
Non-Fungible Treasury
Aside from a small maintainance treasury, Kabocha does not have a fungible treasury as has been the standard with DAOs to date. Instead it will soon institute a
Instead the network only mints new tokens when a proposal is approved
Those proposing projects assign genesis rights