Revnets 1

by Jango – originally shared on HackMD

Juicebox V4
Revnet Research Network
Defifa Gaming Network
Croptop Publishing Network
Nance
Peel
Bannyverse
Eden
Eth.Limo
Pinnable
Planet
EthFS
Happy Gods
Breadfruit Onchain, LLC
Spacetime - MoonDAO’s first DePrize

Context

The following are hypothetical networks, all organized on a proposed experimental $NANA Juicebox protocol fork, running as Revnets across EVM chains. We are all in planning mode.

Read about revnets here, follow the links to browse various descriptons: https://revnet.eth.limo.

The work around which each project’s networks revolve vary widely, but they will each run their revenues, investments, and incentives with similar guarentees.

Their implementation on $NANA using a Revnet is meant to streamline their organizational and legal operations and expectations, and to make them more accessible to investors and customers.

The people behind all these networks are on board, but have not all yet finalized their desire to operate their project using Revnets on $NANA in production. We’re all going to play on testnets to try creating revnet specifications we fully desire to make live for our respective projects. We don’t take fundraising, tokenization, and business models lightly.

Though builder consent is not required – these Revnets can stand besides other forms of operations and even be fan-led without builder consent – broad alignment is important, the lack of legitimacy or planned revenue from builders may diminish an investor’s confidence when choosing to support a network.

Participation

This will be the working document for shaping each of these revnets. Builders from each network will have edit access to this document and are encouraged to shape things to their liking, drop links, borrow ideas from one another, and leave questions for others to help answer.

We’ll all be visting this document often to guide and ask questions. Rob, our lawyer working with $REV, is around to discuss legal risk management strategies for revnets. Investors are also welcome to drop by to help each revnet shape its tradeoffs.

Our goal is to use the month of January of 2024 to play with concepts on testnets, and get ready for production in February.

We’ll use this Discord server for day-to-day comms: https://discord.gg/mRcHm6f82t

Specifications

Each revnet is specified in scheduled stages. Each stage enforces rules that are set when the revnet is deployed. For example, a revnet could have one stage last the first month, and next stage last the next year, and a last stage that lasts forever after. Each stage must define the following:

Property	Description	Example	Tension
Initial price	The number of $TOKENs that’ll be issued per 1 unit of a base currency received, at the time the stage begins.	1,000 $TOKENs / ETH, or 10 $TOKENs / USD	None, this is cosmetic only.
Price increase rate	The rate at which the price increases.	4.2% every 28 days 1% every 24 hours	Faster increases means larger $TOKEN access discrepancies between contributors over time.
Exit tax intensity	Influences the amount of funds each $TOKEN can access when turned in.	0.1	Value must be between 0 to 1. Higher tax means less access to funds, but remaining $TOKENs benefit more from each exit.
Boost	The amount of $TOKENS that can remain controlled, either with a premint or by reserving a % of issuance for some time.	1,000,000 $TOKENs upfront and 30% of new $TOKENs for 3 years to mymultisig.eth.	Bigger boost means more flexibility, but less predictability or access.
Boost operator	The address that recieves the premint, and can re-route the boost allocation. This is only set for the first stage. The operator can transfer this power, or relinquish it at any time.	If I’m the operator, I can change the 30% of new $TOKENs being routed to mymultisig.eth to be instead 15% routed to a staking rewards contract, and 15% to a burn address.	None. The boost operator can never change the preset boost % or duration, just the allocation.

Read more in-depth descriptions here https://hackmd.io/_NO0S6VfQnOCBIUDlPS1-g?view#/.

Revnets

Juicebox V4 (Bananapus)

$NANA

https://bananapus.eth.limo/ https://discord.gg/juicebox

Purpose

Juicebox v4 is a way for networks of treasury-backed token holders (JB projects) to relate across chains and forks.

It will be deployed as an experimental V4 Juicebox Protocol with the following considerations:

Juicebox V3 fork, fully aligned with $JBX.
On ETH and OP to start. ARBITRUM, BASE, and any other EVMs soon to follow.
Native cross-chain project payment bridge, called Suckers, enabling projects to get their L1 project paid on various L2s while maintaining correct accounting for the treasury-backed tokens.
Native staking-rewards bridge, called Tentacles, enabling projects to cross pollinate with other projects between chains and forks.
“Funding cycle” => “ruleset”, and other name changes.
Multiple rulesets can be queued in advance.
Meta transaction support.
Remove functionality that hasn’t proved useful (feegauge, ballotRedemptionRate).
Projects will have the option to accept and store funds in ETH, DAI, USDC right away, and increasingly more over time.

Revenue Model

$NANA takes a 2.5% protocol fee from payouts and redemptions leaving the ecosystem across chains.

$NANA Specifications

The $NANA revnet will play out in 1 stage with the following specifications:

Property	Value	Reason
Duration	Forever	No changes ever.
Initial price ceiling	1,000,000 $NANA / ETH	Arbitrary.
Price ceiling’s increase rate	5% every 28 days	Constant gradual nudge to contribute sooner than later. Arbitrary number.
Boost	50% of new $NANA for 10 years	Sent to dao.jbx.eth, who can decide to use them for $JBX buybacks, growth incentives, or whatever else the DAO decides.
Operator	dao.jbx.eth	Operated by Juicebox DAO ($JBX).
Price floor’s tax intensity	40%	Non-trivial tax to access liquidity.

Notes & Questions

here’s how it was before @filipv

Revnet Research Network

$REV https://discord.gg/nT3XqbzNEr https://t.me/revnet_eth

Purpose

Revnets are treasury-backed tokens that run autonomously with scheduled rules. They issue tokens when they receive investments, revenue, or donations, and only release funds from the treasury when someone turns in their tokens. Builders can reserve a subset of new tokens as they’re issued. Like Bitcoin, Revnets run on a preset token policy that cant be changed. You can use revnets to express new kinds of resiliant business models and to derisk founder-investor relations for open source tools/networks.

revnet.eth is the operator of $REV. It is a research hub, dev shop, and supporter of revnets. The goal of the fundraise is to fund revnet.eth with an initial balance of $REV. It will use this $REV to develop tools and resources that make Revnets more accessible, and to fund exciting projects derisked by their revnets. Ocassionally, revnet.eth will exit from its positions back to the $REV revnet.

Revnets are implemented as Juicebox projects configured to apply retailism.

This project will be deployed as a project on Juicebox V4 ($NANA) as a Revnet to:

Fund revnet.eth with a $REV balance, used to bet on Revnets by funding the development of tools and resources that make them better and more accessible.

Revenue Model

Invest in derisked revnet-based opportunities.

$REV Specifications

The $REV revnet will play out in 3 stages with the following specifications:

Stage 1 | Fundraise

The goal of this stage is to raise $REV to revnet.eth that’ll be used to build revnet-enabling tools like revnet.app, and allocate to promising revnet-based projects.

Property	Value	Reason
Duration	72 days	Arbitrarily a short while to fundraise.
Initial price ceiling	1,000,000 $REV / ETH	Arbitrary.
Price ceiling’s increase rate	1% every 24 hours	Constant nudge to contribute sooner than later. Arbitrary number.
Boost	200,000,000 $REV upfront and 50% of new $REV	Seed treasury, recognize initial research, development, and grants, fund the porfolio.
Boost operator	The revnet.eth multisig.	Currently consists of breadfruit.eth, filipv.eth, codalabs.eth, kmacb.eth, peacenode.eth, and dao.jbx.eth with a 3/6 policy.
Price floor’s tax intensity	0%	Tax-free access to raised funds for the boost to access liquidity.

Stage 2 | Execute

Property	Value	Reason
Duration	4 years	Arbitrary period to push the thesis with strong growth incentives.
Initial price ceiling	10,000 $REV / ETH	Arbitrary. Start less than the first stage to incentivize the fundraise stage.
Price ceiling’s increase rate	0.05% every 3 days (100x decrease)	Reduce but maintain the preference for earlier contributions. Arbitrary number.
Boost	50% of new $REV (no change)	Continues to fund revnet.eth.
Price floor’s tax intensity	10%	Access to funds not taxed very much for continued access to liqudity.

Stage 3 | Reduce

Property	Value	Reason
Duration	Forever	No more changes after this stage.
Price ceiling’s increase rate	10% every 3 days	Tend toward 0 issuance faster. Arbitrary number.
Boost	5%	Reduce the preferential issuance.
Price floor’s tax intensity	40%	Exits taxed more. Abitrary number.

The $REV network will be on mainnet, but issuance will also be available from Optimism and Arbitrum.

Defifa Gaming Network

$DEFIFA https://discord.gg/3puFAeZZkE https://defifa.net

Purpose

Defifa is a special configuration of Juicebox project that is in essence a game. People mint from a preset number of teams, and then the teams decide how the game’s total pot will be split by agreeing on a scorecard. A socially agreed upon rubric is proposed from the start – i.e 60% of the total will go to those who minted the winner of the next world cup, 30% to second place, 10% to third, etc – but the actual spread is a function of the players themselves agreeing on the what happened, nothing else. The Defifa Gaming Network is a Revnet that tries to auto incentivize improvements and propegation of Defifa games.

This project will be deployed as a project on Juicebox V4 ($NANA) as a Revnet to:

Develop and grow a platform for playing self-refereed prediction games.

Revenue Model

$DEFIFA will take a 5% fee from games played on the platform.

$DEFIFA Specifications

The $DEFIFA mainnet revnet will have the following specification:

Property	Value
Initial price ceiling	X $DEFIFA / ETH
Price ceiling’s increase rate	X% every X days
Boost	X $DEFIFA upfront and X% of new $DEFIFA for X years to xxx.eth
Boost operator	xxx.eth
Price floor’s tax intensity	X%

The $DEFIFA Optimism revnet will follow the mainnet’s issuance schedule, and will use a Sucker to pull revenues down to mainnet and distribute mainnet $DEFIFA.

Croptop Publishing Network

$CPN https://discord.gg/ZSFkRjFkrA https://croptop.eth.limo

Purpose

Croptop sites are self-serve personal websites accessible from .eth addresses, with content feeds and revenue streams baked in. No wallet or credit card needed, just a native Mac app. The Croptop Publishing Network is a Revnet that tries to auto incentivize propegation of content published on Croptop websites. Juicebox projects can give the Croptop contract permission to post NFTs to their collections on their behalf, through which posters can add mintable content if and only if they meet certain criteria the admin sets (price, total supply, allowlist).

This project will be deployed as a project on Juicebox V4 ($NANA) as a Revnet to:

Develop and grow a peer-to-peer publishing platform with built in revenue streams and content feeds.

Revenue Model

$CPN takes a 5% fee from mints made through the platform.

$CPN Specifications

The $CPN mainnet revnet will have the following specification:

Property	Value
Initial price ceiling	X $CPN / ETH
Price ceiling’s increase rate	X% every X days
Boost	X $CPN upfront and X% of new $CPN for X years to xxx.eth
Boost operator	xxx.eth
Price floor’s tax intensity	X%

The $CPN Optimism revnet will follow the mainnet’s issuance schedule, and will use a Sucker to pull revenues down to mainnet and distribute mainnet $CPN.

Peel

$PEEL https://discord.gg/fAzKC76xGV https://juicebox.money

Purpose

The Peel community of artisans designs, builds, supports, and hosts commercial access points to the Juicebox ecosystem of projects, including the cononical juicebox.money. Inso doing, it advocates for safe and useable consumer experiences, including those of project owners, project participants, and ecosystem client developers.

This project will be deployed as a project on Juicebox V4 ($NANA) as a Revnet to:

Maintain the juicebox.money site with useful project landing pages that give a general sense of what’s going on, what the risks are, and how to get involved both as a participant and as an admin.
Distribute useful shared tools, like subgraphs and sdk’s, that make spinning up new fine-tuned end-to-end commercial-grade experiments easy.
Help tell projects with their campaign’s growth.

Revenue Model

$PEEL will sell access to its services and surfaces.

$PEEL Specifications

The $PEEL mainnet revnet will have the following specification:

Property	Value
Initial price ceiling	X $PEEL / ETH
Price ceiling’s increase rate	X% every X days
Boost	X $PEEL upfront and X% of new $PEEL for X years to xxx.eth
Boost operator	xxx.eth
Price floor’s tax intensity	X%

The $PEEL Optimism revnet will follow the mainnet’s issuance schedule, and will use a Sucker to pull revenues down to mainnet and distribute mainnet $PEEL.

Nance

$NANCE https://discord.gg/acq4JBc5eT https://nance.app

Purpose

Nance is a platform for running cyclic, predictable governance processes for networks of token holders who need to cordinate around onchain or offchain actions. Pairs perfectly with communities operating scheduled Juicebox rulesets.

This project will be deployed as a project on Juicebox V4 ($NANA) as a Revnet to:

Develop the nance.app platform where communities can engage with their governance calendar.
Work with communities to adapt their pre-existing communications systems to accomodate Nance processes and conveniences.

Revenue Model

$NANCE will charge a subscription fee to the governance processes it serves.

$NANCE Specifications

The $NANCE mainnet revnet will have the following specification:

Property	Value
Initial price ceiling	X $NANCE / ETH
Price ceiling’s increase rate	X% every X days
Boost	X $NANCE upfront and X% of new $NANCE for X years to xxx.eth
Boost operator	xxx.eth
Price floor’s tax intensity	X%

The $NANCE Optimism revnet will follow the mainnet’s issuance schedule, and will use a Sucker to pull revenues down to mainnet and distribute mainnet $NANCE.

Bannyverse

$BANNY https://banny.eth.limo/ https://discord.gg/7QCD4XuyTc

Pilot: https://www.youtube.com/watch?v=BnCNiY19IFE

Purpose

Bannyverse is the illustrative world of Banny and friends, across screens, surfaces, and materials.

The banny.eth multisig will extend the existing conception of banny into story-driven internet content and a story-driven NFT collection.

The multisig is sagekellyn.eth, mieos.eth, dao.jbx.eth, breadfruit.eth, peri.eth, and lurkmoth.eth.

sagekellyn.eth will art direct and contribute throughout.

lurkmoth.eth will produce an initial series of 8 episodes, dropped every ~2 weeks, with shortform content in between. Watch the pilot linked above to get an idea.

Alongside, breadfruit.eth peri.eth and mieos.eth are going to unshelf the pixel banny collection. We will sell 4 options of naked Bannys from the $BANNY revnets on Optimism and Mainnet, shown above:

Alien: 100 supply per chain, 1 ETH each. Pink: 1000 supply per chain, 0.1 ETH each. Orange: 10000 supply per chain, 0.01 ETH each. Yellow: unlimited supply per chain, 0.001 ETH each.

We will then start selling accessories that naked Bannys can buy, with sales sent to the $BANNY revnet. It might or might not feel similar to the image below. We will accompany the content storyline, and include seasonal drops in small batches throughout the years, with occasional knods to currently trending Juicebox stuff. Like a 10 edition of an ice cube accessory for banny in homage to cryo, or a space suit as a knod to moondao.

breadfruit.eth is producing the treasury.

So much to play with from this starting point.

This project will be deployed as a project on Juicebox V4 ($NANA) as a Revnet to:

Bring Banny to life.