Author: Kyle
Reviewer: Sandy
Source: Content Guild - News
Inspired by the fair fork concept of Arweave, it came up with a bold idea: to arm "decentralization" from head to toe. This bold project is Protocol.Land , a decentralized source code management and code collaboration platform for the Arweave ecosystem, which supports developers to use it seamlessly in Git workflows, and generates on-chain snapshots of the code and permanently stores it in Arweave.
In order to unveil the mask of decentralization, Protocol.Land started from the "code layer" and proposed an innovative tokenization model, aiming to create a completely decentralized open source code ecosystem, providing an economic and governance foundation for decentralized projects.
Why is decentralization at the code level important?
Currently, most Web3 projects are still in the "partial decentralization" stage. Taking the most representative MakerDAO as an example, decentralization is actually only reflected in the application and governance layers, but the underlying code is still controlled by a few people, and there are still security risks brought by centralized management. However, decentralization of the code layer can be achieved through tokenized management, that is, delegating code management and introducing a feasible economic incentive model.
The core concept of Protocol.Land is to create a decentralized open source ecosystem. By adopting the "fair fork" mechanism and the "curve bond token model", the code development and management process is made transparent and autonomous, and a sustainable incentive mechanism is built.
Fair fork: an upgrade mechanism based on social consensus
Different from the decision-making mechanism of "traditional" decentralized communities, Protocol.Land adopts the Fair Forks mechanism , an upgrade mechanism based on social consensus. This mechanism allows developers to freely submit improvements, and community members can decide whether to adopt them, thus forming a virtuous cycle of "survival of the fittest".
When the community supports a fork, under the influence of the curve bond token model, developers can benefit from the appreciation of tokens, further incentivizing high-quality improvements.
Curve Bond Token Model: A Fair Token Issuance Mechanism
Traditional projects usually provide incentives to early investors by pre-allocating tokens, which can easily lead to unfair benefits. Protocol.Land’s approach is to introduce a Curve Bonded Token Model , which sets the relationship between token price and supply through smart contracts to ensure that prices are adjusted in real time with demand.
This also means that no one owns the token at the beginning, and all tokens are minted by contracts according to the "curve bond token model". Developers can set the "initial price" and "target market value". When the developer's code plan is supported, supporters will buy in at the "initial price". Tokens are minted according to the model curve, and the supply increases, and the token price will also rise accordingly. When the token market value reaches the "target market value" and has sufficient liquidity, the token fund pool will be unlocked and put on DEX for public trading. This process is also a smooth transition of tokens from the private fundraising stage to the public market stage.
Two sides of the new model
Protocol.Land ’s tokenization model brings two key changes:
- Code-driven economic feedback : Through fair forks and token mechanisms, community members can support tokens based on the value of code improvements, simplifying the governance process and providing direct economic incentives for developers.
- Open source code is directly linked to community value : Traditional open source projects lack a continuous source of funding, and developers find it difficult to obtain long-term income. Protocol.Land's tokenization mechanism directly links code value with market demand, allowing developers to gain continuous benefits based on the popularity of their code, thereby driving improvements in code quality.
However, the way Protocol.Land proposes to tokenize code is not a perfect solution. There are many potential risks and uncertainties, including the dilution of the value of old tokens, or the dispersion of resources due to "forks", which makes the project lack a clear development direction. How to make the "new and old" coexist harmoniously is the challenge of the next stage. It can only be said that Protocol.Land provides a new way of thinking for the decentralization of the code layer.
Summarize
Protocol.Land 's innovative tokenization model is of reference value and may lead a new trend in the development of Web3 projects. Through fair forks and curve bond token models, open source code is decentralized and monetized. Developers can get fair rewards based on their actual contributions to the code, and community members can promote project development by supporting valuable improvements.
This model not only provides a new path for sustainable development of open source projects, but also builds a reference framework for incentive mechanisms and technology win-win for decentralized communities.
