dApp Ribon: May/2022 Updates
Hello Ribon community!
Ribon was born in 2016 with the purpose of donating together to change lives. The solution for inserting the habit of donating in people’s routine has changed a few times and now we have gathered all the experience and knowledge acquired in recent years to update Ribon’s model. This time, we are becoming a 100% open source protocol on blockchain, a fundamental step towards achieving one of our great goals: to become a DAO.
Want to know more about this step? More details here. It’s also worth taking a peek at our whitepaper.
This is a space created to share with you a little about the development of the product at the protocol and dApp level!
Note: The report has some terms that you may not be familiar with. If you want to better understand what we’re talking about, our Web3 Immersion Guide is a great material for that (available only in Portuguese so far), but if you prefer, you can also join our Discord and ask our team directly about any questions that arise ✨
TLDR _ Highlights
✔ Protocol started the review process with the main features and functions planned;
✔ Free donation flow, with individualized impact, is already released — with qualitative usability tests done;
✔ Contribution to the USDC donation treasury through Metamask running on Testnet;
🔜 Fee and buyback mechanism in the protocol and contribution via credit card
🤩 Sign up to test the dApp first hand: https://forms.gle/EagSGuBVNrBorPL2A
✅ So what happened so far…
The core functions foreseen in the whitepaper for the donation process have been implemented:
- Contribution by promoters to Ribon’s donation treasury;
- Donation of donation tickets for NGOs made by donors within integrations (according to the balance allocated to the Integration).
As well as auxiliary functions that delegate power to the Protocol Councils:
- Integrations Council can remove and add balance for Integrations;
- NGOs Council can include and remove NGOs from the whitelist (list of addresses of wallets eligible to receive donations by Ribon);
- Governance Council can transfer funds between different versions of the Ribon protocol;
- Governance Council can change the wallet addresses of the NGOs and Integration councils.
Review of the protocol in the Solidity Scan static analyzer and survey of independent reviewers to carry out an initial review, aiming to raise adjustments and improvements to the features that are already implemented, before sending it to a Certifier (such as Certik) for analysis.
Free donation flow: our main value-adding stream (both for the donor and for the NGO) was the first to be implemented, following the focus on the impact that the donation generates and reframing the communication that was previously done in ribons (digital currencies that were collected and donated in the Web2 app) and is now made in donation tickets. This change reduces the level of complexity of understanding, especially in the first uses, and brings greater autonomy so that partner companies (integrations) can adjust the value of the donation ticket and this will be reflected in an increase in impact.
Individual donor impact: as seen in the free donation flow, the donation is linked to the user’s email of choice. This link is made in the transaction recorded on the blockchain and is redeemed by the dApp by compiling the individual impact history of each email, as seen below.
Contribution to the USDC Donation Treasure through Metamask: the treasury contribution feature is an adaptation of the one-time donations and subscriptions we have on Web2. It is now possible to clearly see how much money is available for donation within the protocol (the treasury) and, of course, make a contribution.
We started with the implementation of the USDC contribution via Metamask, as can be seen on the May 31st contribution flow below. A small spoiler of the credit card contribution as the next step can be seen as well.
Contribution via Metamask is linked to your wallet address, and once connected, the dApp shows your contribution history, including the transaction registration link on Polygonscan.
Assisted use was made of the execution of the free donation and the contribution to the fund with the Metamask portfolio with 10 employees from the Ribon team, resulting in a survey of layout adjustments, copywriting and implementation of new possible features.
🕔 And now about the next steps…
Fee and buyback mechanism: the fee and buyback mechanism will work as a way to reward promoters and integrators for increasing the value available in the donation treasury, while contributing to the appreciation of the Ribon token (named RibonGov tokens at first), benefiting the community and the protocol sustainability.
In this way, the mechanism will consist of withdrawing an amount corresponding to 7% (this amount can be revised) from the new USDC contribution, and using this fee to buy RibonGov tokens and distribute these tokens: half to the promoter who made the new contribution; and the other half to the integrating partner that brought this promoter and, therefore, this contribution.
Contribution to the donations treasury by credit card: as the spoiler already given some topics above, we are developing a way that allows the contribution to be easy and intuitive also for users who are not familiar with Web3 and crypto: through the contribution via credit card. It is a form of contribution that follows the same path that we already have on Web2, with the difference of having the link and registration of the contribution on the blockchain automatically and linked to the promoter’s email — without the promoter even having to create a wallet .
The amount will (less credit card fees) be converted into USDC and sent to the donation treasury, ready to be sent to NGOs through free donations.
We will carry out asynchronous tests of the free donation with 40 people from the Discord community, followed by an investigative form and invitation for some of theses users to make the test contribution to the fund with Metamask wallet. Do you want to be one of those people? Sign up to test the dApp first hand: https://forms.gle/EagSGuBVNrBorPL2A.
Ribon is about bringing people together to give and change lives. Over the past four years we have developed a unique model, awarded by the Bill & Melinda Gates Foundation and IDEO as one of the 10 most innovative giving technologies in the world. Join us as we bring this technology to Web3 and let’s build RibonDAO together!Also follow us on other networks and send suggestions and questions about the report!
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