Walendria Protocol Post #1

Hello, i am a Builder in Gnosis, yesterday i have been deployed my Smart Contract (Project) to Gnosis Mainnet.
• For short, my project is Trustless Bond-backed Protocol, it is facilitates online transaction, purposed for remove the problems we had on traditional online transactions.
• But there is some catches:
first, i notice that the victim of fraud doesn’t need fraudster’s identity and or to be imprisoned, all they need is only refund 100% of their money, and i build the Contract that apply that thought.
• I build one concept called ‘Integrity Bond’ , where seller must deposit 1,5x of item you want to sell (to the contract) (locked for backing a sale) for they can sell something (example: you want sell somethin that price 20xDAI then you must deposit 30 xDAI to Integrity Bond)
• Actually, there is more than 1 concept i created in this Protocol(e.g for dispute resolution, next time) but i want to discuss this thing first.
• Some may say that deposit such-system is expensive, but noo, look at real life, where you must gain trust from customers, where you must pay for renting a place to sell(then there you cannot withdrew your money if your sellings doesn’t >breakeven)
• In this protocol, you can withdrew your IB if you wanted to (any part of IB that is not backing a live sale, you can withdrew)
• And some may say, is 1,5x IB is only for one transaction at a time? Of course not, if you doesn’t scamming your buyer and the transaction goes normal, you can sell again, for the same value, it is called only for ‘Bond’ , just looks like Bond behave in Real Life, it can only be slashes when you scammed the Buyer.
• Note: the word “Bond” here are likely referring to “performance bond”, not Bond that can generate Yield, etc. That is a Bond that can be slashed when seller scam

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We already had a chat on discord, so I am not going to repeat all the stuff that has been said.
And shared in dms. It’s going to be interesting. The only thing I wanted to state: It’s worth observing.
So, if you are actually interested in stuff that might be useful in the real world. Keep an eye out on this one. :face_blowing_a_kiss:

Long term, we probably should also talk abut monetization models that don’t escalate in pure DAO politics theatre. Where sitting on your hands and embracing Ego and Greed becomes the norm.
Yeah, that’s something we have to keep an eye out in this industry. Said that, it still has to be fair.
Happy to keep supporting you at any front I can. This is something we really need.

Btw. I have yet to research this topic. Are there other implementations/approaches? And what makes your approach better than their. (In case it exists) You should also add the link you sent me.

/e I just checked out some project. I have heard about OpenBazaar in the W3C context before.
So, I am wondering. Why didn’t you just fork their code and adjust for the mistakes they did?
It certainly is less work, it’s more battle tested this way. You have less to maintain.
Sure, you get into conflict eventually. But if it’s used and ahh, yeah, that shouldn’t be too much of a problem.
You shouldn’t be afraid to just contribute upstream if possible. They may just hire you.
Or you are the defining factor to their success, which you can leverage in some capacity.
Yeah, that’s something I would think about. Besides, me dumping all this stateless chain, DAS stuff etc. onto you lol :sweat_smile:

  • Actually, in my Protocol, there is no Token, DAO, Governance, etc. The protocol has it’s own method to derive profit, first from 0,5% fee per trx and from residual pool in Dispute Market because of LMSR in Spectral Market, it is Immutable, only mutable thing in that protocol is only the function for change the Developer wallet address(for withdrew fee & residual)(if i want, i can delete it mutable thing(redeploy), but from now on, it is all good i thought, since it can’t touch user balance,ib,any thing except for its spesific use case)
    • I have been research for Augur, Kleros, UMA, many kinds of online system transaction(in my country Indonesia) also many weaknesses in Traditional Court System that i notices, and a lot of legal trouble that happen to Roman Storm etc, but i chose to keep go distribute this Protoc. To Forum even the Legal slightly daunting me.
    • About “Value Proposition”, from my opinion, my Protoc. Is better at applying the understanding of what is really essential for “What the buyer(victim scam) really need if they got scammed in online trx” and “What is justice really mean, (in court system, it is not applying absolute truth, it applying procedural truth) and what thing that really can gave Justice to victim (Spectral Market Concept, out of topic, i will discuss this in next topic)
    • About OpenBazaar, i can’t fork it because of multiple reason, firstly , OB is an escrow 2-of-3 multisig with human moderator becomes the key of Justice (my Protocol does’nt need third human moderator, even i… doesn’t like it , i prefer Spectral Market). Secondly, it is differenr architecture, OB is P2P Off chain + Desktop client application, not smart contract on chain like mine, it can’t be forked. Thirdly, OB is died since 2021
    • About Contributing to Upstream if Possible(Non OpenBazaar), yeah it is a good idea, i will try.
    • About why iam not talk about whitepaper/website/any link related, it because i want to all focus to discuss this spesific new idea first(Integrity Bond) i want to verify from Gnosis Forum Sentiment if that idea is good or not, but anyway, next time i will try consider share the things related to
  • Note: Dispute Market and Spectral Market are the same, Spectral Market is brandy type name for “Dispute Market”
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