What is Dev Protocol?
Protocol, Creator tokens, Oracle
To begin with, let’s clarify the key factors in each area of “Dev Protocol”.
- Dev Protocol: Dev Protocol was designed as a unique protocol to fairly evaluate OSS, which has been economically undervalued for decades. It is built on the Ethereum blockchain and brings economic value to all open source activities.
- DEV tokens: The DEV token is a unique currency specialized for use with the Dev Protocol. It works as a common incentive on its ecosystem.
- Property tokens(a.k.a. Creator tokens): Creator tokens are issued by creators to build their own economies. It provides sustainable funding and distributes creator rewards to its holders.
- Khaos Oracle: Khaos Oracle is a proprietary oracle built into Dev Protocol that allows creators can verify “Proof of ownership” for their own assets.
Dev Protocol as middleware
Dev Protocol is not a single platform, it’s middleware. Dev Protocol is completely decentralized and is a middleware protocol for on-chain governance, anyone can join the ecosystem by developing various applications (Dapps). It allows anyone to develop decentralised applications(Dapps) with incentives for staking and extend their authorisable assets through the market. The Dev Protocol is not closed to OSS, but can bring value to all open assets such as researchers’ papers, YouTube videos, and Spotify music. Dev Protocol integrates with these markets so that projects or creators can authenticate and tokenize their work. It is a whole new creator economy evolving from open creators assets.
The value of the Dev Protocol
The positive cycle created by OSS and open assets being sustainable and able to collaborate with more stakeholders is the greatest value of all. But the Dev Protocol is more than just a way for creators to monetize; it serves as the core for creators to easily expand and manage their own ecosystem. At the core of this are creator tokens and staking. The UI for these to work is only partially complete, but the community’s goal is to fully build these creator ecosystem extensions so that they become the first choice of creators when they decide to create something.
A creator token divides the ownership of a project. There are various use cases where the owner can extend the project, such as for project governance or for incentivizing collaborators. It would also be easy to create a liquidity pool paired with DEV. Dev staking’s split rewards would be distributed to creators based on their share of creator tokens so that creators could provide a built-in incentive model for creator token holders.
Note: It should be mentioned that the staking ratio is higher than the annual inflation rate and that the DIP-55 gives creators an incentive to re-stake their creator rewards.