Common Wealth Team AMA

Space Summary

The Twitter Space Common Wealth Team AMA hosted by joincommonwlth. In the Common Wealth Team AMA, experts delved into the democratization of early-stage venture capital through decentralization and on-chain interactions. They discussed the pivotal role of transparency, community engagement, and decentralized governance in reshaping traditional VC models. By leveraging blockchain technology and smart contracts, Common Wealth Team is driving innovation and inclusivity in VC funding processes. The session emphasized the importance of trust, education, and network effects in building a robust decentralized VC ecosystem accessible to all.

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Questions

Q: How does Common Wealth Team promote democratization in early-stage VC funding?
A: By offering transparent and accessible investment opportunities, Common Wealth Team opens up VC access to a wider audience.

Q: What role does decentralization play in the fairness of VC funding?
A: Decentralization ensures that decision-making and funding allocations are not controlled by a centralized authority, fostering inclusivity.

Q: Why is blockchain technology significant in reshaping VC processes?
A: Blockchain technology enhances transparency, security, and efficiency in fundraising and investment allocation within VC ecosystems.

Q: How are smart contracts utilized in decentralized VC initiatives?
A: Smart contracts automate investment processes, providing secure and programmable terms for parties involved.

Q: What benefits do on-chain interactions bring to traditional VC models?
A: On-chain interactions streamline interactions, increase transparency, and reduce operational costs in VC funding.

Q: What advantages do decentralized governance structures offer in VC ecosystems?
A: Decentralized governance allows for more inclusive decision-making and participation among stakeholders in VC networks.

Q: Why is trust crucial in on-chain VC ecosystems?
A: Trust is essential to establish credibility, ensure transparency, and foster community confidence in on-chain VC platforms.

Q: How do network effects influence investment opportunities in decentralized VC platforms?
A: Network effects amplify the value and opportunities within decentralized VC ecosystems, benefiting all participants.

Q: What role does education play in the success of decentralized VC networks?
A: Educational efforts increase awareness, understanding, and adoption of decentralized VC platforms, expanding their reach and impact.

Q: How can community engagement drive the growth of decentralized VC initiatives?
A: Community engagement fosters a sense of ownership, encourages participation, and expands the network effects within decentralized VC ecosystems.

Highlights

Time: 00:15:40
Transparency in Investment Opportunities Common Wealth Team emphasizes transparent and accessible VC investments for all.

Time: 00:25:17
Smart Contracts Revolutionizing VC Exploring how smart contracts automate and secure investment processes in decentralized VC platforms.

Time: 00:35:55
Decentralized Governance for Inclusive Decision-Making Discussing the importance of decentralized governance in VC networks for broader participation.

Time: 00:45:20
Trust and Transparency in On-Chain Funding Highlighting the significance of trust and transparency in on-chain VC ecosystems.

Time: 00:55:10
Educational Initiatives for Decentralized VC Adoption Understanding the role of education in promoting the understanding and adoption of decentralized VC networks.

Time: 01:05:30
Community Engagement for Sustainable Growth Exploring how community engagement drives the sustainable growth and success of decentralized VC initiatives.

Key Takeaways

• Transparent and accessible early-stage venture capital opportunities are crucial for democratizing investment access.
• Decentralization is key to ensuring fairness and inclusivity in VC funding processes.
• Utilizing blockchain technology can revolutionize how venture capital is raised and allocated.
• Community involvement and engagement are essential for the success of decentralized VC initiatives.
• Smart contracts play a vital role in automating and securing investment processes.
• Innovative approaches like on-chain interactions can redefine traditional VC models.
• Decentralized governance structures enable greater participation from a diverse range of stakeholders.
• Trust and transparency are fundamental pillars in on-chain venture capital ecosystems.
• Network effects within decentralized VC platforms can amplify investment opportunities for all.
• Education and awareness are key to broadening the adoption and understanding of decentralized VC networks.

Behind the Mic

Introduction and Overview

Hey, everyone. Right? I think it's probably good to start. I think we're waiting on a couple others, but we've got Kyle and Tony here with us, so we can get going. So. Yeah. Good morning, good afternoon, and evening, all street. Welcome to our team Ama. With myself, Harry. We've got Tony here. We're from the core team at Commonwealth, and we're joined by Kyle, who's a core contributor at Commonwealth. And this is a great opportunity to learn about where we are with Commonwealth and what we're building and what's ahead of us. But before we start, I do want to highlight that this is an AMA, and we have a lot to get through. However, take this opportunity to request to come up, ask any questions. This is really encouraged because we want to hear and speak to our community, and you are the core of Commonwealth, and there's no all street without you, so. And also, if you don't want to come up, you can ask any questions by clicking on the purple pill at the bottom right-hand corner. Submit your questions, and we can go through them and answer them if we haven't already been through them.

Engagement and Community Interaction

So, yeah, with all that out of the way. How you doing, Kyle? How you doing, Tony? I've got John request as well. Let me get him up. I just gave him, disapproved him. I'm not sure if I was able to do that or not, but seems like I did. Yeah. Perfect. Perfect. John, welcome as well. Got John, who's another core contributor Commonwealth, as well, so he's joined us as well. So, yeah, before we actually go into the dev update and everything else, Kyle is here with us for a short time. He's got. He's got to get away. So what we'll do is, Kyle, if you want to, and John, as well, if you want to share your sentiments on the market and how you feel the market's going. And also, Kyle, I know you did go to token 2049 as well. I'd actually wouldn't mind hearing what you thought of token 2049. How was the sentiment there and the builders and everything like that?

Token 2049 Insights

Yeah. So I did go to Singapore, and I was there for, you know, the period of time around 2049. I didn't go to the actual conference itself. I went to a bunch of side events, had a bunch of one-on-one meetings with portfolio companies with, you know, just associates, things like that. It was really productive, I can tell you that. I went to crypto banters events with everyone. You know, all the YDDev of crypto KOLs were there. And they were all super bullish. I've been, you know, I've been talking about for a long time now. You know, I thought September we'd start to see the very beginning of things coming back up. I said, no, by mid-October we'd probably be back mid to late October. Back kind of like mid-October, all-time highs again. And then I said back, I think by the end of the year, we're going to be at like 100k or something. That kind of surprises people a lot, but I'm not quite surprised by it, especially when you see all the kind of big global events right now, the liquidity that's coming out of China, massive stimulus out of there.

Market Sentiment and Predictions

I just shared recently a research report showing a very high degree of correlation between the M2 money supply and Bitcoin's price. It's essentially always an indicator of Bitcoin going up when the M2 money supply increases. And so we, you know, we've been seeing that happen for a few months now, and so that's the time is right there. And, you know, we have the FTX repayments coming soon. And just generally, overall, a very bullish macro environment. You have the federal, you know, the federal Fed cutting rates half basis points. That's exactly what I said on my channel would happen, half a 50 basis points cut. And then I also talked about on my channel how whenever the rate cuts start, so long as it's not because of a recession, it's bullish. And as of right now, it's not because of recession. It's just time for the Fed to correct their direction. And it's always been extremely bullish when that's happened.

Community Engagement in Wealth Fund

Not always necessarily immediately after the first rate cut, but usually just 30 to 60 days after when things start to really turn quite bullish. And so I'm excited. I'm telling all of the projects we're working with, paid Commonwealth, everything like that, to be ready and assume that we're going to start to see some really interesting things happening in the next couple of weeks here. I think that I'm not the best person to ask about token 2049 because I think that a lot of people had a lot more crazy time than me. There were crazy parties. I see crazy videos, but I was in bed by 10:00 p.m. every night, so. I didn't go myself. My timeline. Yeah, I think I felt like I was there at the parties because it was full of all that stuff that you mentioned. But, yeah, no, I did see some great stuff as well, you know, there's great builders out there and stuff.

Wealth Fund Insights from Kyle

But I also wanted to touch on, because I know that you're only here like for the first half with us a little bit about the wealth fund actually, because I know that how passionate you are in regards to the wealth fund and how you've kind of wanted to bring that in from, obviously from seeing how Cutdao was operating and then brought that in and obviously we've made some changes to that. But then our first two investments actually went out to Chainlink and Peppercorn, which you're super bullish on. I'd love to hear your thoughts on that as well because they're the two first proposals that passed. I think that, I think the community, the wealth fund is really important. And you're right, it was, you know, like when I first heard and found out about Cult, you know, for those of you who don't know, the founder is anonymous, Mister Omadulous. And he actually sent me like a message long before I didn't see it in my telegram.

Economic Model Discussion

But then when it was brought to my attention by a dom, when I read through it was just like very brilliant, you know, and even though Commonwealth's core model, you can say it's a core model, but like, the unique differentiator, which makes it vastly different than what Colt does, is the decentralized VC model with the way I like to look at it, is multiple levels of consumer protection in a way. Not, of course, not totally consumers, I would say risk minimization. Right. So, you know, allowing, you know, only allowing deals to come into the funds that were, you know, invested in by one of the Oracles, you know, who will have successful track records, you know, that kind of limits what can be done in the entire wealth ecosystem. And it doesn't leave, you know, it doesn't leave room for the entire all street to propose their own kind of thoughts and things that should be invested into and I think for the overall health of ecosystem.

Future Directions of the Wealth Fund

We've talked, though, amongst the core contributors about how in the future we might put some seats on the Oracles for community members to work their way to go up there one day based on merit and things like that and contributions could, and I think that makes a lot of sense. But initially, like, we have training wheels, you know, and we want to make sure that things start off slow and the most risk minimizes possible. So what is interesting about the wealth fund is it allows the community, the top 50 stakers of wealth tokens, to make proposals to invest in whatever they would like. You know, and one thing I'll say about it though, you know, I think that the Pepe coin deal was a really good investment. And even though I'm very bullish on Chainlink, I'm not more bullish on Chainlink than I am on wealth.

Investments and Strategic Discussion

And so I don't think that the Chainlink investment was a good suggestion as an investment from the wealth fund. I'll tell you why. And Harry, you probably are familiar with this, but when you build, when you take the time and you put together such a strong economic model where all value accrual goes back to the token, it's pretty easy to model that out and understand that as long as this thing has value, as long as this thing is generating revenue, generating value, and if that goes back into the token and the form of token buybacks and buy pressure, and there's more and more utility for the tokenization, that is all the kind of right things that you need for a token to be in more demand with limited supply. Essentially what people should think about from the wealth token model is that this is the best economic model in the entire space and it's also undervalued, in my opinion. Not undervalued, right.

Future Investment Strategy

But once certain things start taking off, the upside potential is massive. Whereas something like Link is already super, you know, high valuation. So whenever you make an investment from the wealth fund, we're essentially giving up wealth from our treasury and then swapping that out for whatever the investment is. So in this case, you know, and then eventually when that, when that time comes to end, then we swap the token that we purchased back for wealth and then we, you know, and then we burn 50% of those and then we distribute 50% of those. So in this case, we're saying when we made the investment in Link, we're saying that we think that Link will outperform wealth. And I don't think that's true. Right.

Final Thoughts on Wealth Fund Investments

So I just wanted to say that because I don't have a lot of time to come into the community and say these kind of things. But that's how I would frame it. Why I like the Pepe coin investment a lot was because Pepe Coin and the team have really good token economic models and they're about to come up on Monday on a really big event, which is the brain burn, which a lot of the supply of Pepe coin will probably be burnt forever, reducing it significantly, which is a really great short-term catalyst for, you know, price to go up. And so I think that was a. Have we lost Kyle there? Was it myself? I'm not sure. No, we've lost him. I can hear you guys. Yeah, you're back now.

Conclusions and Community Engagement

You're back. Where did I cut out? About telling us about the burn for the Pepe coin. Yeah. Yeah. So I just think that the Pepe coin investment was really good. Not only is the burn event coming on Monday, which is going to create more scarcity within the tokenization, but also we got, you know, we got the token at a huge discount for retail price. So, for example, if we had gotten the Link token at maybe 50, 60% off retail, you know, then maybe it would be more of an ideal situation to do. But anyway, that's just my two cents. I wanted to share that about the wallet fund, and to answer your question, but that's my two cents about how we're doing so far on it. Time will tell, right? Time will tell. And that's the beautiful thing about the wealth fund, is that even though I have my opinion, like, it doesn't matter what I say, it's completely up to the community to do what they want.

Wealth Fund Philosophy

And the beautiful thing about this is whether the investments are great or not great, at least nobody has to put up their own capital for these investments. These investments are made on behalf of the wealth treasury that are earned through platform fees and things like that. So, you know, the community wins if the investment is great at the end of the day, and if it's a horrible investment or something, then no one has to lose any money. And this is a chance for community members to be able to express their opinion on what we should be investing into, and then the community members also be able to vote on that, and something also for the community to do, right. Something for the community to gather around to talk about.

Community Building in Crypto

A lot of communities in crypto don't have anything to do. All they do is sit in their Telegram group or Discord and say, one moon. One moon. And they don't actually have anything to be all street about, right? And we're like a digital barbecue party on like a, you know, like we're all hanging out, doing something cool, looking for investments as a team. And I think this helps build family, helps build all street, helps build, you know, that kind of community and camaraderie that we're all looking for in crypto. And so that's why I'm really excited about it. Yeah, no. Thank you for sharing your thoughts and. Absolutely. I think the biggest takeaway from this is like, the wealth fund is for the community, run by the community, and benefits the community.

Encouraging Active Participation

Right. So active participation is like, highly recommended, because at the end of the day, it is the community's fund, and we want people to go in there and recommend projects, talk about them, do due diligence, and then let it go for a vote. Right. And it's really key to keep the cogs turning. So. Yeah, no, absolutely. Absolutely. Yeah. Go ahead. If I can just make. How's it going, everyone? Hope everyone's well. I hope you can hear me all right. Yeah. Just one comment on. I agree with a lot of what Kyle was saying. My view on the market is slightly different. I think we need a breakthrough all-time highs, and then we can kind of have a clear direction. It does worry me a little bit that every single KOL and YouTube out there is like, go all in right now. This is the time.

Market Observations

So that does make me a little bit worried. But I. As far as the rest of the market and the macro outlook, I do agree with everything Kyle was saying. My one concern is if the S&P in the Nasdaq, which is trading at all-time highs every day, does have a little pullback of maybe five to 7%, we could see a little correction in the crypto market. But I think if you're not short-term leverage trading, I definitely think at some point from now until the end of the year, we will see all-time highs, and then I think we'll start seeing some retail foaming back into the market, and then it could all happen quite quickly from there. So, yeah, all in all, I think our opinions are very similar with a six-month outlook. I just think in the short term, we could still have some choppiness.

Personal Investments and Community Engagement

But I know Kyle doesn't trade with a short-term view. So I think he was saying pretty much exactly the same. As far as Pepe coin goes, it's personally one of my biggest investments that I've made the cycle. I really like it. I'm close to the team. I really believe that it could be a good player for our fund. One comment that I will make is I think if this fund wants to prove ourselves and all street wants to become a major player in the market, especially when we go into like a really frothy bull market and we kind of fighting to get into good deals, I think we've obviously got to prove ourselves. And, you know, in order to do that, we need to start showing projects what we all about.

Building Relationships with Projects

So if you guys aren't following, like, the Pepe coin socials, for example. You know, go and follow them, give them a like, you know, maybe make some comments, ask questions, you know, be a part of the project, because that's. That's kind of what we meant to give back to projects in order to get these big discounts. We can't just get these discounts for free. We're approaching projects and saying, please allow Commonwealth to come on your cap table or give us an OTC deal, and we'll return you, our community as kind of like a bartering favor. So, yeah, just wanted to make that comment while everyone's listening and really excited about Pepe Coin and Chainlink, of course, is one of everyone's favorite players of the cycle, and I just hope that it plays out the way that we all envision.

Community as an Asset

Yeah, no, absolutely. Absolutely. And our community is our biggest asset in the whole ecosystem. Right. And so, yeah, no, I totally agree with everything you've said there. And Kyle is always super long, by the way, regardless of what he. What he goes into, he's always long term. He's always been like that. So. Yeah. Okay, cool. So thank you for that. What I'll do is we'll get into the dev update now because there's quite a bit to cover, and I also want to bring people up if they've got questions and stuff as well. So, yeah, welcome, Tony. Nice to have you here. I know you're super busy, so thanks for taking time out, and let's get into it.

General Updates and Future Developments

Hi, everyone. I'm going to try and fly through the general update because I think most of you will have seen the update in the forums. But I do want to lead in to the main part of what we're going to talk about today, which are updates on the funds and fund types. We're at a very kind of exciting point in our journey, and you're going to see a lot of activity there over the coming weeks. And then lastly, we want to talk a little bit about the new staking program that we're launching and how that really speaks to many of the teams that you've heard Harry and Kyle talk about today, including active participation in the protocol and the great circular economy we have.

Detailed Updates on the Project

So, yeah, so, very quickly, you know, you can see the detailed updates we publish every month in the forums. A lot new to come, including a lot of completion, if you like, of taking the feedback from the various betas and evolving the product to the version one we'd always envisaged. So we expect that we need to come together kind of in Q1 next year. And between now and then we'll be overhauling, you know, staking the fund and project cards to incorporate a lot of the feedback you've given us. The new treasury dashboard will be going out before long, and then there will also be improvements to profile, portfolio rewards and wallet management.

Improvements and New Features

In addition, then we'll be adding back in the fiat on ramp and the non-custodial wallet creation that we had previously. Many of you will have seen these perhaps in designs or videos, but we had taken them out before we ran any of the private betas, but they'll be going back in now as we gear up for the retail market, so keep an eye out for those. And then in addition, we'll be adding in notifications finally in Q1 next year as well. Before then, we'll also add a new app home screen to kind of orient users better when they hit the application and to be able to surface some of the, you know, the content and the information as well as the activities inside the app and kind of make them front and center.

Staking Model Overhaul

Then. Lastly, we've just finished overhauling staking, what we're calling staking V2, so it drastically simplifies our current model. And in addition, it's a completely new UI. But mainly the advantage here is that it does away with the two existing CDP and CRP phases and collapses them into a single mechanic where everybody can lock in the max discount at any time. So we expect we'll see a lot of people who already staked immediately go from being kind of understaked in terms of their fees for discounts to being overstaked, which will be a nice place for them to be. And then, of course, you know, I'm hoping Costa or Hari might come in here.

Internal Marketplace for NFTs

Recently we launched our own internal marketplace for nfts and slices. As many of you know, the ecosystem is undergoing some changes. Regulation is scaring some of the NFT marketplaces. So utility driven nfts don't really have a secure place to be traded online. So we made a proposal some time ago to add our own marketplace, which we launched a week ago. It's still early days, but I'm delighted to say I think we've had 140 plus extra secondary sales this week over the previous weeks before we had the marketplace. So while volume may be low and revenue may be low currently, we think it's very well positioned to capitalize on utility driven nfts as we go forward as part of getting ready, you know, for the big, the kind of migration of the evolution of the app to a version one.

Marketplace Feedback and Improvements

We've kind of rushed out the marketplace to an extent in that we already had feedback from the beta about new features we could add including, you know, additional metadata and making some of the UI a little clearer, adding in like collection floor prices, etcetera. So they're all on the list. We're going to go through a second pass on the marketplace as time permits, but that probably will be after Christmas at this point. But rest assured, all those great ideas haven't been lost and we will be actioning them as we go forward. Harry or Kosta, do you guys have any thoughts or any comments on the marketplace before I move on to the funds?

Responses from Team Members

Yeah, I just wanted touch on the marketplace stuff. So we obviously, I mean, the community very well know that when we had our genesis nfts listed, they were delisted from some platforms, being a utility NFT, and there were issues around that and it's getting more and more common, you know, across different projects. So I'm super bullish on the NFT marketplace. I think the scope could be huge. Without saying too much on this. Don't know what I can say, what I can't say. But, you know, it's still evolving, still in its better stages. And, you know, I actually took part in the testing actually before I joined the team when I was still a community member. And, you know, I did give some great feedback and the team are always working hard, very transparent. And, you know, I think the marketplace being in wealth as well, and like, it just feeds into the whole ecosystem and I just think it's a great compliment to the ecosystem as a whole.

Marketplace as a Revenue Stream

So it is for sure. It's also a notable milestone in that it's their first actual revenue for the protocol. Like up till now. You know, the, any proceeds from the funds go to the investors. Any proceeds from the wealth fund go to the stakers. The transaction fees from all the NFT and slice sales go to fund the wealth fund. But a portion of the revenue, the 2% transaction fee on the marketplace is actually protocol revenue. So hopefully it will be the first of many revenue streams we'll be adding over the coming weeks and years. You know, just on that note, then I'll talk briefly a little on, before we segue into the all street fund launch, we'll talk a little bit about the other funds.

Expansion of Fund Types

Basically, we've been adding a lot of new funds and fund types. Up until only a month or two ago, we only had the venture funds and capped funds at that. But now with the wealth fund, it's project based. And now with the launch of the Allstreet Fund, it's our first perpetual fund, which basically means now we've a growing amount in our library and kind of greater flexibility in the funds engine to be able to spin up different types of proposals. So we're very excited to see where this goes in the future. In the next couple of months, we'll be launching a couple of new venture funds, including two or first two liquid funds. I think some of you will have started to see some of the news about those filtering through.

The Importance of Community Involvement

Yeah, and that will basically, you know, give us a huge range of options, and we're even seeing that being reflected now in, you know, in some commercial conversations we're having for future proposals. So you'll hear more about that in the forums quite soon. And, yeah, the wealth fund, I think the guys have already spoken to, you know, we need you guys to get involved. Commonwealth's always been community driven, and even from a decentralization point of view, that's our ultimate goal. Right? Have the team and the community and the platform working in concert so that they all kind of blend together. And it's actually at the root of, you know, regulation and compliance for us individually and collectively as well, to be able to be seen to be active participants in the platform.

Introduction to Allstreet Fund

So the welt fund is, as Kyle mentioned, these great training wheels to enable us, you know, that plus the due diligence tools on the platform are all great places to start and asking questions on beginning that kind of investment journey. Is there anything else on that, guys, we should talk about before I go into the all street funds? Harry, no good on my side. All good on my side. Do you know if Kyle or John wants to chime in? All. All good. Maybe I'll introduce. Yeah, okay, I'll introduce the all street fund then. And this is one that's been close to my heart since I joined the project. And were having these early stage conversations about tokenomics and the fund model and where it might go.

Details on Allstreet Fund

So the Allstreet fund we've launched today is kind of another part of the promises we made in the white paper. It may not be of interest to many of the community members today, given they may already have slices in some of the funds, but the real idea behind the Allstreet fund is that there's always access to the venture funds that are at the core of the platform to date of. You'll be able to come in even if a fund is capped and sold out. You may want to get a slice of that individual fund, but by purchasing a slice of the all street fund, you get exposure to every venture fund that we have now and we will have in the future. That's kind of one price of, you know, for one price of entry, you get exposure to all the various funds and all the various projects in the funds.

Target Audience of Allstreet Fund

So we see it as aimed at kind of a much more potential retail audience or the folks who want to come in and get involved in crypto and the world web three, but without all the housekeeping that goes with it, necessarily. So I think it's an important milestone for us to kind of be at, given that, you know, in the next couple of months, we'll be launching the first of our liquid funds, which is the same idea, again, on a very different basis, but again aimed at that same kind of more casual audience. How the Allstreet fund works. It's a perpetual fund, so it can receive investment into it at any time.

Investment Mechanics of Allstreet Fund

And what we do is we basically reserve a 10% allocation at inception for each of the venture funds, and that's kind of reserved for the Allstreet fund. And that guarantees there's always access. You still get a slice when you invest into this fund as normal, and you draw down profits as normal. Each of the funds will potentially have different payout periods. So they won't always all be weekly. Some will be monthly, some will be periodic. And if those details are not known now, they will be known very soon, and we'll include them in the knowledge base. I think that's all I've got on the all street fund.

Looking Ahead

Connor, was there anything else you wanted us to pick up or promote in relation to the all street fund? Is there anything we want to talk about in terms of the forthcoming votes on the additional venture funds? Oh, I don't think he's up. He's not. It's not on the. Is not open. No worries. Yeah, yeah, no worries. And, you know, I'm gonna say that all street funds, great exposure for people that don't want to follow individual funds and just want to kind of park up and just have exposure to the whole. All the funds that are within there.

Community Engagement and Accessibility

Right. Nice and easy. Yeah. You know, it's quite a simple way to kind of get into the ecosystem as a whole, so. Exactly. Nice and simple, right? Yeah. No, absolutely. Absolutely. Then with that, without further ado, then I guess I'll talk a little bit about the smart staking program and which is going live tomorrow. So, yeah, it's a difficult one to speak to. So we have prepared a knowledge base article on this and which will be live today. And then of course there'll be more information available tomorrow as we launch the program.

Overview of Smart Staking

But basically, staking for participation is one of those glue mechanics, I call them the kind of a mechanic that's coming in and pulling together various parts of the ecosystem. As Kyle mentioned earlier on, you can see with the wealth fund, it's part of our promise to try and grow the next generation of investors and the next generation of oracles. Likewise, the staking for participation program, or smart staking as we're calling it, is there to give additional options to folks who are here today, but also bring on new people into Allstreet.

Inclusion of Current Stakers

So basically, smart stake, if you're already staking at the moment for discount or you're staking for the wealth rewards, you're effectively already included in this program. You don't have to do anything else because what we're doing is the right now, the people who are staking currently would get any profit share in proportion to their wealth staked. Likewise with the same with the fund votes, any protocol governance votes would be in proportion to your stake that remains the same. But if you think about it, the staking for wealth Rewards program is a twelve month finite program.

Clarifying Stakes and Governance

And it's, you know, we're three months into it. So in nine months that's gone, in which case your only way to participate in the ecosystem is through staking for discount, which you may not be able to do, particularly like at the moment where there's capped funds. So we kind of need other mechanisms to be able to bring people into the ecosystem, and we needed other mechanisms to be able to, if you like, partly fulfill our promise about giving you all a voice or an equitable voice, not just having that biggest holders, having the biggest voice when it comes to governance.

Understanding Smart Staking

So how does it work? It sounds a bit complicated at first, but basically it's a third way to stake. You can stake at the moment, as you know, for a discount or for the wealth. Well, you can stake for the wealth rewards that are closed. But tomorrow we will launch a new staking page, which will enable people who are not already staking to be able to stake a small amount of wealth and be part of Allstreet. Basically, each program has its own benefits, standalone, as you know.

Enhanced Governance Participation

But now with staking for participation or smart staking it as we call it, you'll be able to additional wealth to your stake to increase your share of governance. You will also be able to use XP earned through activity on the platform as conversion into voting power to balance out what may be people who have large amounts of wealth being staked on the far side. But basically we see this as partly gluing everything together, as I mentioned. But it also means that we're able to qualify people when we want to relaunch their awards program.

Relaunching Award Programs

As you know, the free fund, priceless fund promotion was incredibly successful and we want to relaunch that now. Of course, when we, by the time we relaunch it, we'll be running the same promotion for three, four funds, potentially. So a much bigger scale. So what we plan on doing is restricting who can do the missions in those programs to only three out of the 15 missions for each project. Unless you're staking to the smart staking program or you're already enrolled in it.

Goals of the Smart Staking Program

The idea behind that is quite simple. It's adding an additional layer of security, but to keep all of the all street rewards for the all street community and not just for the opportunistic folks who are coming along for the airdrop. So I realized that of a mouthful, but effectively you'll be able to go in tomorrow in the interface, see what you're staked across the other two programs, and if you wish, additional stake, additional wealth for a greater share in governance. More details will be launched over the coming weeks and months as we relaunch the rewards program.

Community Engagement through Activities

A lot of what we're, you know, planning at the moment is still subject for review, but we think it's going to, you know, provide that additional economic think and help provide a mechanic to map between those who are most active on the platform and those who are holding the most on the platform. It brings in additional layers of gamification, of course, in a number of different areas, which from some of you and I've talked to find it quite interesting. So it'll be very curious to see if we're able to use the engage mechanics on the platform and get people actively participating in the protocol at every level for those.

Gathering Community Input

Tony, can I just ask you a question? Yes, of course. The staking that's opening tomorrow, that is not for participation in gaining access to one of these funds, is it? This is just for. Correct. It's an additional staking program. Okay, so is that other staking for participation in that fund for free? Close already. I'm not sure I followed. The staking for discount is related to the individual funds. This staking for participation is just in general, it's a way of adding to the total amount of wealth.

Clarifying Participation in the Ecosystem

Like, let's say, for example, I've already staked for the Max discount in the Alpha fund and the priceless fund. There's no more benefit to me staking anything additional. But staking for participation program does is gives me that outlet. I can now stake my additional wealth for additional benefits. And it's in total. When it comes to your governance piece, it's the total, you know, that you've got staked which adds up to your voting power as such, exactly the same as it does currently in the fund.

Governance and Profit Shares

Governance. Your vote is, your voting power is proportionate to your stake. Does that make sense? It's an additional program. It's an optional additional program. Okay. So are the benefits just for governance voting? Is that what the benefits are? No. And profit share, the more you. Proportional profit share. Exactly. Yeah. So it's profit share and governance. They work slightly differently, but they're both proportionate to your stake.

Access to Full Rewards Program

But the, I guess the big additional benefit is that the, by any amount of staking on the platform, you're able to participate in the full rewards program. There's now a line in the sand for, you know, the airdrop hunter, so to speak, that to be more engaged, they'd have to be more engaged and have skin in the game in order to be able to participate in the wider awards program. Is there some kind of chart or anything out there that you can kind of work out?

Understanding Staking Benefits

You know, if you staked an additional amount tomorrow when it opens, how much more of the profit share you would get? Or is it kind of, you can only work it out at the end? No, there's no chart currently. We can work it out in terms of the total proportion of people's individual stake to the total amount staked and worked out what people's proportionate vote would be today that we could do. Yeah. Okay. And what is the maximum that you can stake from tomorrow?

Stake Limitations

There's no maximum. Okay. There's no maximum. Yeah. It's really like, I don't oversell it in one way. Right. It's a really, it's an optional mechanic to allow more people to be able to stake and get the benefit of staking than they can today. We're happy. We're just bolting on that if you like. People have to be engaged in this program or to be staking on the platform at all in order to be able to do all the promote rewards, which are quite lucrative.

Flexibility in Staking

If you're just taking your XP and cashing it every well. So it gives a, gives people a couple of options. Once you stake, are you locked in for a period of time or can you unstake? You can unstake at any time. If you're already staked, you don't need to do anything else. You're already included. But if you haven't already staked to date and you're staking tomorrow from this program, there's a minimum of 99 wealth that has to be staked for a minimum of three months. That's it.

Guide on Unstaking

After that, you can unstake without penalty at any time. You can add to your stake as often as you want. You can unstake entirely as often as you want. Perfect. Thank you. So, yeah, it also, you know, kind of longer term. This has lots of implications for us as well. Right. It gives us a beanstar to map experience to the wealth token to governance.

Connecting Experience and Governance

So now we can begin to tie together the call to action and the flywheel across the community on the platform and, you know, kind of get the wheels moving, so to speak, and get the community involved on a day to day basis. So, you know, you'll hear a lot more about the rewards programs over the coming weeks and months. There's plenty of detail published on them previously, but now you'll be able to see the leaderboards and what people have been accruing through activity on the platform, through the beta test for the marketplace, and through the promotion that's going on at the moment in using the marketplace.

Encouraging Community Interaction

And there'll be lots more details to come, and I'm sure there'll be a million questions after this. We lost you there, Tony. Oh, yeah, sorry. I was just going to say, please get all the questions coming and anything you want to follow up on later on. My d suggestion questions, please, for the one. Yeah, I have one now already, actually, someone's left one in the comments, so they're asking, does the new staking add to how much you get from the wealth fund and add to your rank to get top 50?

Clarifying Benefits of New Staking

It adds to your rank to get to the top 50. And there's a question for the leadership team about where profit from the wealth fund is included in profit for revenue or not, or whether they're separate, was an open question there, but basically by adding to this program, it increases your profit share across the board. Yes. Because the more you staked, your reward is proportionate to your stake. Amazing. No, thank you for that.

Closing Remarks and Community Engagement

And I just want to kind of add on to what you were saying about any questions, leave them in the comment in the purple pill at the bottom right hand side. But if you want to actually come up as well, just to send a request, and I'll get you up and we can get some questions coming from the community as well, because we're. There has been a lot to digest, so if anyone does have any, there is. Please do come up. Yeah.

Sharing Resources

If it helps, I've posted the article in the knowledge base. We could share that link with the team, with everyone. Now, Harry, it won't be live in the app until tomorrow, but certainly the knowledge base article is there, which has a bit more info in it.

Launch Discussions

Yeah, sure. I'll go get it now. No worries. Yeah, we probably should do these launches on something more visual than a Twitter space, perhaps. Yeah. Yeah, we could do. Actually, I think there's an option within Twitter. When you set up the spaces, you can actually do like, a video version of it. So maybe we can maybe try it out at some point, see how it works. And if it's viable, then we could do that next time. Yeah, perfect.

Dev Update Coverage

You can move on to the. Anything else that you want to cover in regards to the dev update, and I'll just see if there's any questions and if there's any requests. No, I don't have much more to cover. Perfect. It was just. Yeah. I want to give people a chance to ask us about the many topics they must have on their minds. I mean, yeah. The idea for this came, folks, a few weeks ago. We realized, you know, we'd been quiet, and a lot of the industry's been quiet, but we kind of felt, you know, we should start showing people and talking about all the things we're building, because we've been building. And so I think over the next few weeks and months, it's going to be very exciting.

Community Engagement

But, we just wanted to kind of let you guys know what were up to. Really. Yeah. I was going to say that it's maybe appear to be quiet, but it definitely hasn't been quiet. You know, there's a lot that's been going on, and this update actually shows that there's. There's so much that's happened and still going on. You know, there's a lot to. There's a lot that's packed in that update and that I actually know what, like, I'm so, I keep talking like a community member now because I've been in the community for so long, the transparency and everything that's being done and actually like asking the community and getting update, like getting recommendations from them is next to none with Commonwealth which is great to see in the space. So you know, just kind of want to say that and then I forget that I'm like, oh wait, hold up.

Building Momentum

I'm actually part of the team now so I need to take my community hack. Respect responsibility now. Yeah, exactly. Exactly. I've got a, I've got to do what I've been saying all that time, which is great. And because I kind of want to still keep my community hat on because at the end of the day we're building this platform for the community. Right. Community is core of all this. So it's good to kind of have, you know, both of that, both of them perspectives and we've got someone that's requested actually. Yeah.

Wealth Fund and Community Rewards

I think the implications of what we're talking about between the wealth fund being launched, the all street fund being launched, the marketplace and now smart staking, I think if you join the dots from the white paper, there's a very consistent line there and a lot of things converging at the moment. And like the foundations are being laid now for the legal decentralization strategy. We've talked about being able to scale rewards even further and have all those pieces tied together so people are being rewarded and incentivized just for being part of the community. And the protocol, it's all going to start coming together now, you know. Yeah, no, absolutely. Absolutely.

Community Questions

We've got, oh, we're sorry. We've got Martin up here. Hi, Martin, welcome. Okay? Yeah, we can hear you. Yeah, welcome. Yeah. Really nice to meet you all. And a really interesting space is, so thanks for putting it on. I've got some additional wealth actually, that I've been getting monthly from when I invested through the paid network. So it's great to hear that. I'll be able to state that too. My main question was that I'm actually a top 50 staker currently, but it's been quite unclear to me what benefits I get from that and I've not been voting. So. Juan, could you make that clear or have I just missed something?

Voting and Staking Benefits

No, the only benefit, you guess, is getting the honor, I suppose, of uncovering and proposing these projects into the wider community to vote on. I suspect we will do some kind of XP. We do XP rewards for everyone who votes in fund and governance. We may do something around the folks who do proposals as well, but that's still pending. I can't think of anything else apart from those two benefits? Yeah, I think that's about it. It's the difference between proposing projects and voting once they've been proposed as a committee member. That's the one of the main differences.

Understanding Staking

Yeah, that's good, because I was looking through the proposals, so. Yeah, there was some good proposals put forward. So that's good to know. Thank you. Yeah, no, you're welcome. And thank you for coming up. And, you know, it's nice to have you. We'll move on to crypto Dominion. Welcome. Yeah. Hi, Harry. Hi, Tony. Thanks for the Twitter spaces. I just have a couple of questions. One is regarding the wealth fund where they've invested in link and Pepe coin, right? Yeah, that's correct. Yeah.

Investment Strategies

So link was bought at the market price. I wanted to know because nothing like vesting. When will the selling happen of that? Like to realize the profits? That's a good question. And the answer is, we don't quite know. And this is the issue that Kai was bringing up earlier on with venture deals. We've got that predictability and we sign a safe with the OTC deals that were proposed. You know, we got. We lost you again, Tony. I think it might be a connection. Yeah, I can hear you. I can hear him perfectly.

Market Operations

Oh, it must have been me then. Sorry, my bad. It's me then. Okay, I'm back. I'm back. Apologies. Go ahead. And then the chain link deal went through as a market deal. And that's the problem, is that now we're down to a situation where we have to agree on when it's going to be sold, etcetera. So the whole protocol is set up to avoid those kinds of discussions. So I think with that deal, it will have to be on a case by case basis. We'll have to figure out with the community when we should sell them and. But we don't want to do votes for tokens like this.

Addressing Community Concerns

So we're really discouraging people from doing those kind of market trades for that reason, because it leaves this kind of operational issue we have to resolve with the community now, you know? Yeah, yeah. It seems like I've always thought, you know, listen, as Kyle said earlier, it's not up to us to make these decisions. We kind of have a say. But, you know, we've just got one of the votes. I really don't quite understand the chainlink deal at all because, you know, amongst all the oracles, we've got access to really good deals. They might not be available on the table, you know, all day. Every day.

Market Patience

But, you know, if we have a bit of patience, we will find stuff like the Pepe coin deal, where we can get a 50% discount from market price, you know, there and then. So it is confusing because we could have easily bought Chainlink. I don't even know what price we pay, but we could afford it at $12. And, like, the next day, it can be trading at $10, and we all of a sudden down 15%, and we've got no edge in the rest of the market. So what I would suggest is, instead of putting stuff like that in the community fund, I would say rather go buy that token yourself.

Project Evaluation

I do think Chainlink is at a good level here. It can go low before it goes up. But there was nothing special about this deal at all. We had no edge over the rest of the market. And that's the whole thing with Wall street. We do have an edge in the rest of the market. So I think we should use that to our advantage and just be a little bit more patient. Actually, I think it's worth pointing out that we had two other potential OTC deals at the same time as the Pepe one, and we kind of lost one of them because we chase the chain link vote.

Future Improvements

So, you know, there's definitely consequences, too, right? So we do need to pick and choose our battles with the wealth fund, just given there's that greater overhead and diligence required on it. But, yeah, it's like, it's a proof of concept at the moment, right? I'm sure it'll only get better as we go forward. Yeah, it can get from here, you know, so it's a good deal. I like changing, too. Just to answer your question about when we'll usually sell these, like, for example, with Pepe coin, there is discussions going on behind the scenes around, you know, how exactly we're going to structure it.

Selling Strategies

But we'll always hold the token for a minimum of three months just to have respect to the project that we got the deal from. And then we will put something in place, concrete, where we might sell 1% a day over 100 days or something like that. We also never want to hurt a project, but it would always be a three month gap to start with. And then once the team has decided on something, I think they'll put it forward to the community and it can be signed off. But what it's looking like at the moment is a three month waiting period, and then to sell it over about 100 day period into the market.

Confirmation of Process

Is that correct, Tony? Has anything been changed since we kind of lost briefly, brought it up. No, no, you've hit the nail on the head, John. Like we have the automation for doing kind of the market trade and DCA in and out that we want in our automation. And as you know, we've discussed potentially it will be easy enough to add in more advanced trade algorithms, but that's not what Commonwealth's about. Want to stay away from that side of things.

NFT Marketplace Queries

So. No, I think you've nailed it. Yeah. Thank you. Just one other question about the slice NFT marketplace. I have a slice and I've staked it for 10% profit share. If I sell that, what will happen to the staked belt? Good question, I think. You don't get a notification currently, but the stake. Yeah, I need to double check. Unless Harry's got the answer off the top of his head, I can't recall. But there is answer for that question. It's not, you know, I just can't remember the.

Clarifying the Staking Mechanics

How it works. Sorry, is the question what happens to. The staked tokens that's related to a slice that was sold for the discount? I think you did answer this right? And I do. I do remember reading it. 1 second. Let me see if I remember reading it. And. But there's so many mechanics to it. Don't take this for granted, but from what I remember it was that I think that once the slice moves, you're able to claim your tokens back, as far as I remember. But I think that's what they're asking.

New Ownership Responsibilities

What happens to the state tokens for the discount? Is that the question? Yeah. So the new purchaser should again stake wealth together 10%, right? Yeah. Okay, so basically you've got a slice, you've sold a slice, but you had wealth staked. What happens to your wealth and what happens to the. What does the new person need to do in regards to the NFT, this slice? Yeah. Okay. Yeah, yeah.

Staking and Unstaking

So the new person, Tony, I'm guessing, is they'll have to obviously stake because they're now the new 100%. Yeah. There's no stake on it from their point of view. Yeah, yeah, of course. But the old, but the old staker could just claim their tokens back, right? You can claim the tokens back. Correct. Now I'm not the bit, I'm not sure about those. Whether the unstaking penalty kicks in there or not. Like it shouldn't. I need to double check that for you.

Community Support Channels

Yeah, yeah. What we can do is crypto Dominion. I'm not sure if you're in our telegram. Yeah, yeah. I am. Akshay 108. Okay, perfect. So we're quite active in the telegram and so are the moderators. So if you pop it, pop in there, you have any questions and stuff, we can always get back to you because, you know, we can always get answer for you.

Appreciation for Engagement

Yeah, yeah. Harry, you're doing a great job. Thank you for that. The apologies were a bit vague. It's just we've got five different staking algorithms kicking around at the moment, so it's a little bit confusing for us without written down in front of us sometimes. Apologies. Thank you. Bitcoin. Thank you. How is it? Yeah, bitcoin 65 200. That's fucking.

Opening Statements

Here we go. John, I just called it 30 minutes ago. And it's recorded to you, Kyle. It's recorded, sue. That's it. We've got evidence here. Right, okay. I think there was a. Thank you, Nora. Thank you for coming up. Nice to have you on. And I think we have got a few other questions as well, Tony. Right, right.

Questions about Staking

So someone's asking, does the existing staking counter skin in the game for upcoming reward programs, or do you need to add wealth to the smart. To the smart staking to count a skin in the game? Good question. No, no. If you're staking it all on the platform, you're in. Okay. Amazing. The additional program is just an optional way for you to add to your stake, but you're already included. Perfect. And I'll just see if there's any other questions in here.

Community Involvement

Right. There is another question here, so. Oh, no, it's disappearing. There is. So my question is, how does investing in these projects like peppercorn and Chainlink contribute to increase in the wealth token market? Captain? Yeah, a couple of different ways. The purchases are done in wealth, and of course, the distribution in proceeds is done in wealth. And there's a burn of 50% of the proceeds from any wealth fund contract or, say, wealth funded investment. Is that clear? Does that make sense, Harry?

Ecosystem Value

Yeah, I'm sorry. I was on mute. Yeah, no, absolutely. Yeah, absolutely. Because the whole ecosystem drives on the wealth token itself. And obviously, there's a burn mechanism in there and the profits coming in, so. Yeah, no, absolutely. And I think if you want more information on that, it's good to see. Going to the white paper, there's a decent diagram on there that shows how the wealth fund side of things operates and how the profit is split into rewards and then the burn as well, and how that trickles down. So the wealth it is. It's a very unusual mechanic in many ways compared to the rest of the platform, but it's really the kind of heart of all students think about.

Future Plans and Community

It just hits the circular economy left, right and center. And as Kyle mentioned earlier on, it's training wheels for the next round of investors to become oracles and, you know, keep the flywheel rolling. Fantastic mechanic. Yeah, no, absolutely. Absolutely. And I think that it's one of the more sections of Commonwealth which requires, like, 100% community, you know? Well, everything's going to be like, decentralized down to the community, but even from the get go, like from now. Right. Like, it's all community driven. So the more you get involved, the more chance of success it has driven right from. From the core, which is community, so.

Investment Strategies

Exactly. And when you layer on DXP, the more involved you get, the bigger the say you've got, the bigger the share in profits you get. It just all ties back together very neatly, you know? Yeah, absolutely. I think because we're still rolling out different sections and stuff, you know, the bigger picture is definitely there. It's just obviously we're working towards it slowly, so we will definitely get there. And, you know, it's building. It's looking good. It's looking good. It is.

Market Sentiment and Investments

No, I was only thinking today we probably need a bit of a visual representation of the roadmap to show how these pieces are kind of layering in, because even just talking about Connor during the week and we're kind of looking at the new treasury dashboard or what's intended for it and kind of saying, you know, we want the section on decentralization, but what did we show? So, you know, I think trying to figure out how to solve that problem and putting that in front of the community will kind of show how the pieces are coming together a lot better, you know? Yeah, no, absolutely. Yeah, absolutely.

Security and Community Interaction

I don't think we've got any more questions. Let me just have a quick. We'll write up more about the whole smart staking program and how it ties into legal decentralization and this whole piece about, you know, through the efforts of each other, you know, playing on that term from the Howey test. You know, the whole legal decentralization approach is about the community working hand in hand with the tech and each other and the Oracle. So it's coming together piece by piece.

Final Thoughts

No, absolutely. Absolutely. So there's no more questions in the comments. I've just had another last look. If anyone wants to request, your time is now. Otherwise we can start wrapping this up. I don't know if Kyle or John want to add anything. Yeah, I think Kyle's too busy looking at the BTC chart right now, so. Really bad signal, guys. I'm also just in Ukraine right now, and the signals kind of in and out, so. No problem. No.

Conclusion and Farewell

Thanks for joining us. Thanks for joining. Yeah, and John, thanks for joining as well. It's great to have you up, as always. Yeah, no worries. Yeah. Just, just one thing that I'll add. I mean, there's obviously a lot of people in this community. It might be your first cycle. You know, we've sat through the last twelve months has been quite depressing. It might have even been slightly longer. And, you know, if you listen to people like Kyle and some of the other guys that have been around for a lot longer, they've kind of just said, just be patient, you know, don't do anything stupid, carry on accumulating stuff at the bottom, and one day you'll reap the rewards.