Decentralized Autonomous Region of Merseyside Alpha (DARMA) Token Project
This is just an idea for a project I am working on. It is still early days, but if you are interested feel free to join. This is a decentralized project, and I will approach more people with the idea as everything develops; perhaps creating a discord or telegram group, and organizing meet-ups within the region to activate the populace.
I want to launch lots of blockchain projects in Merseyside, but it is inefficient to work on different projects and then link them.
The DARMA token project allows for effective creation and roll out of blockchain projects, under an umbrella regional parent/alpha token.
Merseyside is a county in England where rebellion against the status quo runs rife. There are many examples, but here is one of many from the not too distant past....
During the Thatcher years the Liverpool local government in Merseyside went against the London grip and had their own "illegal" budget to keep services going, and to invest in social housing. The Merseyside council and their "illegal" budget were eventually stopped. But the point of the story is that there is a saying in Liverpool "Liverpool is not England" and I believe this applies to the entire surrounding area of the Merseyside region. It is a perfect region in which to experiment with new economic ideas.
The DARMA project is a two point plan to infinity
Creation of a stake based direct voting regional reward pool
Projects are first approved by voters with secondary operation of “witnesses” validating the approval based on relevancy to the goals of the DARMA project
Approved and validated projects can then be voted on and funded accordinglyLaunch/distribution of alpha token
Launch the main net as well as holding a 1 year ICO to allow those within the region to claim free DARMA, and outside investors to invest in the region.
You just vote online for the projects you want/like, and funding is allocated.
For example if I wanted to create a regional token for the arts, I could propose to the DARMA community the project, then if they accept it, it could start receiving funding.
Using the system we could just copy the DARMA layout and create other systems like ARTS coin in which the stakeholders in that system determine where the funding goes to in the region, creating lots of other umbrella systems underneath the original alpha token.
The ARTS coin would then feed back into the economy creating value through arts in the region, making the region wealthier and feeding back into the DARMA token and other related ecosystems with whatever we decide to build.
Goals of DARMA
- Act as the parent token of the Merseyside region
- Create a stakeholder society in which profits from regional decentralized autonomous organisations (DAOs) return to the region and the citizenry
- Build decentralized infrastructures, institutions, and DAOs
- Provide services & community tools
- Create regional cryptocurrency to lock in the wealth of the region and stop the illegal siphoning of our economy
- Provide basic income or sustainable shareholder income
- Spread the idea into other regions
- Evolve goals
General overview of key ideas
The plan is to start with DARMA (Decentralized Autonomous Region of Merseyside Alpha).
The DARMA token will act as the parent token of the Merseyside region, acting as both a region and company with the goals of creating a stakeholder society; building decentralized infrastructures and institutions within the Merseyside region, as well as providing services, community tools, regional cryptocurrency (Merseyside £ & Merseyside gold), and basic income, all without the need for taxation of the citizenry within the region.
DARMA will act as the stake of the whole region, giving holders (citizenry within & outside the region) democratic control and the ability to vote on projects that society should under take.
It will be run alongside the current failing centralized systems with the intention of gobbling them up and obsoleting them.
Secondary goals are to spread and share code and decentralized applications and tools with other regions who create their own parent tokens.
Decentralized regional cryptocurrency in a decentralized autonomous region
One of the initial goals of the DARMA project is the creation of the regional currency. The Merseyside £ (M£). This will reflect the economic value of the region.
On creation, the M£ will be distributed to DARMA holders as well as a fat chunk being held by DARMA to be used for projects (based on democratic voting) and also minting.
Creation of M£ should initially decrease the value of DARMA as economic value of region is transferred into M£.
Anyone holding M£ can engage in the process of minting by converting their M£ into Merseyside Gold (MG). Storing the value in MG produces M£ over time. This acts as the creation method for new currency within the system as opposed to private banks privately printing.
The value of M£ will be decided by the markets, and rise exponentially as the system grows benefiting the users of the system.
The value of MG will be pegged to the value of gold, and then rise 5% annually for those who want safe growth of their wealth, as well providing a passive source of income through minting M£. Minting is dependent on stake weight of MG. The more MG you hold the more you mint over time.
The M£ and MG system acts as a way for users of the currency to easily benefit from explosive economic growth of the region while also being shielded from negative volatility. As well as stabilizing and promoting growth of the system.
Fairness of stake based democratic voting in a decentralized autonomous region
It can seem unfair for someone to be able to buy more stake than someone else and therefore have a bigger weight to their vote.
But if we consider that those with more stake have more vested in the system, and therefore more to lose if they don't make the best decisions, we can see logic in this.
When distributing Decentralized Autonomous Region of Merseyside Alpha (DARMA; the regions parent token), perhaps 50% will be dropped onto citizens who sign up for the decentralized system, and the other 50% sold in an initial coin offering (ICO) to investors to establish a market price.
It is important to have outside investors/stake holders in the system, but also to ensure that outside dominance does not take place or negatively affect the project.
There will be either newly generated DARMA or a fat amount locked away to be released to Decentralized Autonomous Organizations (DAOs) within the region, with a small amount going to those who work for the DAOs on top of their pay. Every year you live in the region you will be given a little bit of DARMA. There will be bonus DARMA for people working on projects, as well as perhaps many other ways to faucet the parent token onto the population. This applies pressure to the democratic nature of stakeholding and voting to those within the region (countering any initial sell pressure), and of course those within the region are free to also purchase more DARMA if they wish.
Ideally citizens will want to collect and hold their stake in the region (their DARMA), as they will receive bigger airdrops from newly created DAOs and other projects, as well as during the Merseyside £ and Merseyside gold (regional currency) initial distribution.
The system will be designed to reward those who use the system and help build it. The more stake they have, the more weight they have with their democratic votes in the project.
But it is not just about stake, it is about cooperatively co-owning a decentralized region without the need for banks, politicians, or any mumbo-jumbo.
And through the power of internet/blockchain democracy being able to adapt, evolve, innovate, and roll out solutions to our problems as fast as we can think, instead of watching and waiting for a dribbling drooling state to take a single step forwards.
Decentralized Autonomous Organisations (DAOs) in a decentralized autonomous region
One of the goals of DARMA is the creation of DAOs. DAOs are just decentralized companies, businesses, or service providers owned by the shareholders.
An advantage of blockchain technology is the ability to program trust, and remove the need for intermediaries in a system, like bankers, politicians, managers, middle-men, and all that excess.
DAOs undercut all traditional business models. DAOs created in the region can't outcompete the competition, because their is no competition. They will simply replace and moot the archaic models.
A DAO could be a construction company for example. CONSTRUCT tokens would be airdropped onto DARMA holders. Everyone holding CONSTRUCT earns a tiny bit of profit from the company and can vote on it. Company is run by workers and code.
The same could be applied to a coffee shop chain, owned and run by COFFEE holders.
Refuse collection service. REFUSE
Dividends of company will also be paid back to DARMA, to be used for projects and service costs.
Decentralization education EDUCATE
DAOs can be anything you can imagine, whether copying traditional models and just applying blockchain to undercut and uppercut the competition into oblivion, to ideas yet to be thought of. You tell me!
Anyone can be part of this project in any way they choose. I'm just an ideas guy for now, writing it down and trying to communicate what I got.
Thank you for reading.
@RiskDebonair