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Web3 application on Ethereum. Stake in success of others, using smart contracts on blockchain. Get rewarded together.

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Stake in Success - new incentive system for success recognition

Incentive theory

Design Overview

Staking Contract Details

  • Staking contrat represents the staking process, incentives and tokenomics
  • Staking creates an incentive model for anyone to stake into other people's success
  • Once a person gets recognized for their achievement, everyone who staked in them is also rewarded
  • Two ERC20 tokens drive staking - StakingToken and RewardToken
  • StakingTokens are distributed to everyone
  • Supply and distribution of RewardTokens is controlled to increase value and decrease inflationary pressure
  • Staking contract allows staking, withdrawals and reward management
  • Award contract will rebalance the staking rewards upon minting Award winners

https://kovan.etherscan.io/address/0xa6519f0701ac7a5b8d14dc76cf6592fe18d20027#code

Award Contract Details

  • Award contract represent the overall Award process, from start to finish
  • Awards contract has an overall budget, that can be augmented by addToAwardsBudget()
  • This will be a real transfer of ETH, the sender must be valid and have the amount of ETH in their account
  • Awards can then be minted
  • ETH will be moved from the Award budget, and vested for the winner for a vesting period
  • ETH in the individual award can be withdrawn, if vesting period has passed by withdrawAwardETH
  • Award will only be minted if there is available budget
  • Award will not be minted for organizers
  • On-chain AML check will be performed on winner's wallet to ensure it is not on a 'bad list' via Oracle
  • Off-chain HR check will be performed to ensure the award winner is still an employee when collecting award
  • Minting of award will rebalance and rebase all stakes in Staking contract

https://kovan.etherscan.io/address/0x3B263598094F56245e538c056628137043dA84F5#code

Staking Token

  • Initial balance of Staking tokens is minted for each participant, upon wallet connection
  • Staking Tokens can be added to wallet using the Import Token feature
  • Staking Token is a utility token, without economic value

https://kovan.etherscan.io/address/0x06B8B5B2179Df6b01Cd4a9cb0268fF6fd340B67E#code

Reward Token

  • Reward Tokens will be minted acording to the Tokenomics model
  • Tokenomics model will include number of StakingTokens staked, duration of the stake, success of the stakee
  • Reward Tokens has monetary characteristics, has economic value and needs to be inflation controlled
  • The exact tokenomic model is TBD, and is the very next step on the Roadmap

Digital Identity Contract

  • To represent people vs wallet addresses in the system, this contract provides the identity mapping
  • Upon intital wallet connect, user chooses an identity and this contract is ammened
  • This is a 'mock' contract, eventually should be replaced by a solution that extends to AD, SSO etc.

https://kovan.etherscan.io/address/0x6A64f3ba3ff31a8D23d6EE62cA6aBac6C1AFD713#code

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Web3 application on Ethereum. Stake in success of others, using smart contracts on blockchain. Get rewarded together.

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