Should GnosisDAO fund Yubiai?
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title: Should GnosisDAO fund Yubiai?
author: Ignacio Britos @Nachobr
status: Phase-1
type: Funding
created: 2022-09-5
Simple Summary
Yubiai is a marketplace developed by ProofOfHumanity community members, where you can buy & sell services, digital products and physical ones using crypto, this will allow:
- Extreme low fees in commissions & gas in every transaction.
- People to have the possibility to use their crypto to buy and sell in a secure and transparent way.
- People offer their services, physical and digital products globally.
To support the development of the Yubiai Dapp, we would like to ask the GnosisDAO for mentoring & funding in return for Yubiai Tokens & an increase in Gnosis chain adoption.
Abstract
Yubiai is a project born from the Proof of Humanity community that came together online to develop a web3 marketplace where you can buy everything with crypto. What was done so far?
At the core of Yubiai there are some protocols that give life to the platform:
- Gnosis Chain builds new market mechanisms for decentralized finance. Their three interoperable product lines allow you to securely create, trade, and hold digital assets on Ethereum at very cheap gas fees. Yubiai deploying on gnosis is a must, enjoy the p2p transactions of everything there is on our platform at the cheapest gas prices.
- ProofOfHumanity a sybil resistance protocol on the blockchain, a mechanism for social identity on ethereum.
- Kleros Escrow, and the Dispute Resolver.
- Kleros Curate. “ Is this item following the marketplace rules?” By creating a list, defining guidelines and putting curation in the hands of the community you make a marketplace to operate accordingly to our own systems of rules.
- TalentLayer is the interoperability layer for work reputation. When you complete a job on Yubiai, you and the person you transacted with will give each other a review; growing your reputation over time. TalentLayer IDs allow freelancers on Yubiai to own your reputation as a soul-bound NFT. TalentLayer IDs are interoperable: your reputation can work on any integrated marketplaces. If you lose access to your wallet, your TalentLayer ID can be recovered to a new wallet via an emergency recovery process.
To support the team, we are asking for funding from GnosisDAO over 250000 DAI in return for 25,000,000 YBI tokens transferred soon after the deal is done.
Motivation
- Increase adoption of Gnosis Chain. This will benefit gnosis ecosystem and Yubiai users due to the low gas fees.
- Attract users and sellers to Yubiai.
Our goal is to provide a platform where buyers & sellers meet to transact in a secure, cheap & fast way. We will build a DAO in order to have project participants be in control over the project.
We believe that bringing together GnosisDAO and YubiaiDAO would be mutually beneficial to the community. By supporting the YubiaiDAO community in technical matters, such as Gnosis Chain deployment and Zodiac integration, the launch of YubiaiDAO could be facilitated.
To enable the YubiaiDAO launch team to keep developing pre-launch, we propose a token swap in which GnosisDAO would transfer $250,000 worth of DAI to support the project. In return, we will transfer 25,000,000 YBI tokens to GnosisDAO soon after the deal, out of a total supply of 1000M YBI tokens at launch.
The majority of the funding will go towards the development of the Yubiai Marketplace and marketing.
More information about YubiaiDAO can be found in a dedicated write-up at Lite Paper.
Specification
- GnosisDAO will invest $250,000 worth of DAI in return for 25,000,000 YBI tokens out of a supply of 1,000,000,000 at the time of launch.
- Received funds will be managed within the DAO multisig at yubiai.eth.
- The signers consist of core YubiaiDAO members. If interested, a representative from GnosisDAO can join the signatories.
- yubiai.eth will hold the minter role for YBI tokens.
- A portion of the revenues, including but not limited to transaction fees generated on the Yubiai Marketplace, will flow back to YubiaiDAO.
- Deploy of the Yubiai Marketplace on Gnosis Chain.
Rationale
Yubiai tackles peer to peer transactions of services, physical & digital goods, NFTs using crypto as currency, we believe that this usecase hasn’t been developed enough (most projects focusing on financial applications) and that Gnosis Chain using a stablecoin as its native token is the perfect chain for ut. Others projects attempting to create marketplaces, do not have the protocols that we are leveraging in order to provide the best and safest UX as well as all the incentives that are in place, such as the lowest fees from each transaction, leveraging the Proof Of Humanity community and being able to get the most out of their offerings for the seller and get their needs met by the buyers. The marketplace business has huge adoption of the total crypto population.
Implementation
Once this GIP gets approved, the 250k USD worth in DAI requested for development and marketing will be sent to the Yubiai’s multisig, which will administer the funds: 0x17d79CF96896c4d2aa4d4a19a2c8dD08DaFd163D. And Yubiai gnosis multisig will send 25,000,000 $YBI tokens to GnosisDAO address.
Tokenomics
- User Incentives : 50%
- Treasure/DEX Liquidity: 20%
- Team: 15%
- Advisors/Help: 2.5%
- Marketing: 12.5%
Funds Allocation Details
- Team salaries
150k DAI
- Marketing
100k DAI (focusing 50% on the weeks before and during the launch). The rest to maintain a stable {but less intensive} (marketing effort for the rest of the year). This rest would be locked and would be unlocked progressively on time.
Total 250k DAI