FORTH can be inflated 2% per year according to the code, and this opens up on 4/21/2023. Gitcoin is a web3 platform dedicated towards the proliferation of much needed Public Goods, and the upcoming Grants Beta Round will run from 4/25/23 - 5/9/23. Important categories include Decentralized Science, Climate Solutions, web3 Community & Education, Token Engineering, Ethereum Infrastructure; and more can be found here: Gitcoin Grants Beta Round
DAO should vote for FORTH Inflation and become a funding partner.
Rationale: Decentralization & Peer-to-Peer Consensus
We’re all here for Decentralization, right?
In the pursuit of Decentralization, Gitcoin Grants is funded through a mechanism known as Quadratic Funding. This values the Voice of the People and the end users – the N – by weighting influence of the number of Individuals contributing to causes, more than the number units of Money going towards them. Example; 10 persons contributing $1 each is matched with far greater magnitude than 1 person donating $10:
From the inaugural Decentralized Science Gitcoin Grants Round in Q3 ’22 emerged important insights that informed, at least in part, the soft launch of AMPL-SPOT System. Discussions about Free Energy, Markov Blankets, Endogenous vs. Exogenous Collateral unfolded in the official Ampleforth Discord Server. Neuroscience of Ethereum: Decentralized Science for a Human Node Network project was funded by web3 citizens like you via Decentralized Finance, and our collective understanding of Active Inference (how we are actively modelling the world of Ethereum after our Nervous System) further helped to elaborate the significance of Decentralized Elastic Finance & Rebasing Digital Assets.
In this sense, the behavior of Supply Elastic Digital Assets on Ethereum appears to be modelled after Neurotransmitters in the Nervous System.
Horizontal & Vertical stratification of Risk (Free Energy & Uncertainty; by way of Neurotransmitters) in the Nervous System assisted our understanding of Rebase & Tranche mechanisms and motivated this video on Zero Liquidation Loans. Going even deeper, integration of Insights from Analytical & Depth Psychology, Game Theory, and Computational Neuroscience – it can be said – have been applied towards the Nature of (Ideal) Money. We go from Ideal Money to Asymptotically Ideal Money, as we go from the Prima Materia AMPL to the Philosophers’ Stone SPOT.
Now that Inflation-Resistant Store of Value Peer-to-Peer Cash (what a mouthful) – let’s just call it Ideal Money? – has been invented, it behooves us to put it to good use towards those things that will advance humanity, extend our longevity, and promote well-being & prosperity.
Participating as a funding partner in this Gitcoin Grants Beta Round is likely to confer the following advantages to FORTH DAO, AMPL-SPOT, and the broader Elastic Finance Ecosystem (Ampleforth, Buttonwood, HourGlass):
- Awareness, Recognition, and Marketing across the Ethereum Ecosystem
- Decentralization & Distribution of AMPL-SPOT
- Deeper FORTH Liquidity
- Interest to BUIDL upon the Elastic Finance stack
- Community growth
- Potential potentiation of a Flywheel Effect
- More; see “ThinkBoi” Funnel
To balance the disseminating forces of content in the Information Age, Blockchain/Distributed Ledger Technology appears to have emerged as a conduit for collectively ascribing meaning to that Information which can create Value. Peer-to-Peer Consensus emerges through the chaotic ocean of Information Entropy; Order emerges through Disorder.
It seems Science is at a pivotal moment in this regard. Over the better part of the 20th Century, Science has progressed under the “development-by-accumulation” view driven by a mandate of falsifiability of hypotheses conducted with empirical testing. This has worked well in the previous paradigm. Today, do we need to rely upon falsifiability to decide whether Distributed Ledger Technology & Digital Assets create Value for Society?
We can make sense of the world in other ways.
E.g., if the Philosophers’ Stone SPOT exemplifies an Elixir of Life by resolving uncertainties of the web3 end user by relieving their burdens tied to financial uncertainties, must we run empirical testing to validate this reality?
It’s important for the pendulum to swing back towards Verificationism from Falsifiability, where it is asymmetrically dangling at present.
It is imperative for Science to be Decentralized #DeSci
For this, I will present options and leave the rest up to our DAO and Community as we gauge interest through a temp-check.
The most straightforward path would entail n% FORTH Inflation and conversion into a “stablecoin,” though we have something better so we can go with SPOT. At current prices:
- 2% Inflation → 15,297,897 x 2% → 305,958 x $3.36 = ~$1M USD
- 1% = ~$500K
- 0.5% = ~$250K
- 0.25% = ~$125K
Currently, there is a $75K matching pool for the DeSci core round. It could certainly benefit from more.
More elaborate processes could constitute selling inflated FORTH to finance:
- An AMPL/ETH Geyser dedicated towards DeSci Gitcoin Grants Core Round
- A SPOT/USDC Geyser dedicated towards DeSci Gitcoin Grants Core Round
- Deepening of PALM Liquidity, and repurposing heretofore accumulated ETH towards Core Round Matching
- Selling FORTH for AMPL → Minting SPOT with this AMPL → Using this minted SPOT for matching pool
I’m a staunch proponent of Applied Science. We’re in the midst of multiple crises, so it’s necessary for us to take Action. The growth of Decentralized Science is part of a broader game plan to collectively deploy what can be analogized as the modern-day Archimedes’ Lever.
This can lead to dramatic improvements in Individual & Public Health through the construction of a “web3 Assembly Line” (.e.g., Sleep 2 Earn) which can come to our homes, but we have to activate the puzzle together. Health can become Wealth.
We have to get there first. Learn more about the Archimedes’ Lever.
Your Time & Attention to this pressing matter is much appreciated; thank you