We’re excited to share that the Otterspace Protocol (Beta) is live on Optimism Mainnet! 🦦🚀
Sign up here to start using badges in your DAO.
Badges are non-transferable tokens based on the new EIP4973 standard. They are earned, not bought, and can be used by your community to represent membership, achievements, roles, levels, skills, participation or pretty much anything else you can think of.
In the last part of our story, the Otternauts discovered The Badge.
The Otter Badges are used to represent affiliation with a planet, give governance over the planet and recognize the achievement of extraordinary Otternauts. As Otternauts collect the badges and tuck them in their fur, they can show other Otters who they are and access the interplanetary rafts. Moloch doesn’t stand a chance against this level of coordination.
As the coordination among the Otternauts improves, their societies flourish and become healthy ecosystems composed of rafts floating through the Otterverse. The motto of the Otternauts is ‘flow over control’. To encourage other communities, they decided to share the secret of how they use badges.
The hyperfinancialization of Web3 has seen plutocratic governance, a culture of meme-driven speculation and roaring bull runs. Non-transferable (and therefore non-financial) tokens offer a promising path for communities built less around money and speculation. But how can this new type of token, sometimes called an SBT or ‘Soulbound’ token be applied within DAOs and other Web3 communities?
At Otterspace, we’re working on a token standard, protocol and app that enables any community to harness the power of SBTs, or what we call ‘badges’. It has been a while since we posted a product update, so we thought we would use this opportunity to introduce some of the ways communities can use badges with Otterspace.
There’s nothing quite like a market crash to embolden crypto-sceptics and make the mainstream question everything. We’ve entered a phase where the schadenfreuders are louder than the shillers, and the lights on the community’s guiding torches have dimmed.
It’s easy to dismiss the gleeful voices shouting “I told you so”, but engaging in critical discussion is healthy and necessary to progress. The critiques of Web3 range from absurd to moot to genuine and address blockchains, NFTs, cryptocurrencies, the culture and Web3 itself.
One specific problem in Web3 is that of hyperfinancialization. This is particularly interesting because while hyperfinancialization is one of its biggest issues, financialization is an intrinsic benefit of Web3.
Since the publication of Decentralized Society by Weyl, Ohlhaver and Buterin, soulbound tokens (SBTs) have become one of the most discussed topics within the Ethereum community. Futures have been imagined, sparks have flown and flags planted in the ground.
As one of the projects contributing to a non-transferable token standard since before the publication of the DeSoc article, we want to join the discussion by clearing up some misconceptions and explaining why we have chosen non-transferable NFTs for the Otterspace DAO badges. For more background on the problem we are solving with the Otterspace protocol, check out this article.
“What the heck are soulbound tokens? Even after reading the paper, I still don’t know” - Kate Sills
Much has been written about DAOs as a new form of organization, and how they can be built and maintained sustainably. We are very much still in the iteration and discovery phase as we learn how DAOs can best structure, govern, attract and retain members and produce value. However, it is not too early to start thinking about the implication of DAOs as a new organizational structure.
As DAOs adopt new forms of operation, this will affect how they collaborate with, sell and service each other and other organizations. This blog post tells the story of what we have learned about DAO go-to-market (GTM) as a young, small organization building primitives for DAOs.
In Part I, we told the story of the Otterverse coming under attack from Moloch as more and more Otters floated in and coordination became harder. The rocks ($ROC) the Otters use as a currency for ownership and governance were not good enough for running the Otter planets. In part II, we tell the story of how the Otters discovered a new model for organizing the Otterverse.
Otters are clever and curious creatures who do their own research. As they review human history for clues, they stumble upon The Badge…
A long time ago, in a galaxy far, far away, the Otternauts lived peacefully – floating on their backs from planet to planet. The Otterverse was distributed equally between planets, and they used their special floating powers to travel and collaborate with each other...
The Otternauts have been bringing humans into the Otterverse, and away from the tyrannical regime of the FAANG creatures, but the number of new Otternauts has made coordination difficult...
Mint your Soul Otter and join the mission!
Over the past week, we have been excited to see a lot of conversation happening around the topic of identity, reputation and Soulbound tokens. The paper published on May 11th by Vitalik, Glen and Puja begins with a clear declaration that “Web3 lacks the primitives to represent such social identity” and is therefore dependent on Web2 structures.
At DAO camp last week, we went deep discussing reputation systems in DAOs with Zakk, rafathebuilder, Shreyas, Chase Chapman, Jon Hillis, Spencer Graham, Evin, Aaron Soskin, Will Papper, Richie Bonilla and DrNickA, among others 🤝 🏕
A long time ago, in a galaxy far, far away, the otternauts lived peacefully – floating on their backs from planet to planet. The otterverse was distributed equally between planets, and they used their special floating powers to travel and collaborate with each other.
Meanwhile in a neighboring universe, the vicious faang creatures were conquering more and more planets to add to their authoritarian empire. The faangs quickly conquered Interweb, the home of the humans. They banned humans from owning land, forcing them to pay rent by watching ads, and increased taxes to 50%.
As they grew their empire, the faangs came closer and closer to the edge of the otterverse. But the otternauts had one key advantage: if the faangs succeeded in conquering one planet, the otternauts could just use their floating powers to spin up a new one somewhere else. The faangs stood no chance.
Feeling sorry for the plight of the humans, the otternauts decided to use their floating powers to help transport humans into the otterverse and away from the faangs’ tyrannical regime. As more humans join them, the otterverse becomes a more powerful and magical place.
Join us on our journey into otterspace.
We believe that the Interweb can be a better place: one that is more open and transparent, and where value is distributed fairly to all Otternauts. At the heart of this vision lies the concept of DAOs – DAOs are the vehicle whereby independent, autonomous individuals can collaborate without needing a central authority.
How we come together online is changing at the speed of light.
Before the global pandemic, remote work, virtual concerts in the metaverse, and Discord servers thousands strong were only a curiosity. Now they are the norm.
We are living through the single most important shift in human connection in recent memory.