At the start of this category we wrote about the concept of User-Generated Capital, where the content we consume (NFTs) and the community we engage with (DAOs, social tokens) will each begin to create their own capital.
We wrote about this new UGC having the unique purpose of upgrading the relationship between creator and user; from a passive Web2.0 experience to one where real interoperable ownership is a common feature.
We are now in the threshold of this moment and see the need for newer primitives to emerge in order for social tokens and DAOs to truly thrive.
Roll is extending its suite of on-chain tools with two new products: Roll Memberships and Roll Staking.
Introducing Roll Memberships
Roll Memberships is an on-chain membership primitive for DAOs and social tokens using the ERC20 standard.
Its focus is establishing core members of each community by distributing social tokens to users who can then access on-chain utility or ‘perks’ across a multitude of platforms.
The DAO or creator has an opportunity to capitalize on their membership by setting a price in ETH for each tier or level of access. The user experience is similar to becoming a Twitch, Youtube or Patreon member, except the membership is now extensible to any platform the community wants to use via social tokens.
As creators move from on-line to on-chain, we see this type of infrastructure as the de facto way for DAOs to start a treasury or a creator to establish a lasting Web3 community.
We announced in our A round last year that Roll’s vision is infrastructure for the social token and DAO category. This means both Memberships and Staking will be packaged as an SDK for social platforms to easily use and integrate in the near future.
A platform trying to become the next discord, spatial audio network or metaverse can create a chat room with its own treasury or a city with its own liquidity. All without needing any additional resources outside of Roll’s SDK. If you know some of these dreamers, you can always feel free to intro or have them fill out our typeform.
You can create a Membership right now on Roll here for you or your sworn enemy. We can’t really stop you, but we can help you set up your contract. Roll Memberships is usable with any ETH L1 ERC20 token. Try it out.
Introducing Roll Staking
Roll Staking is a simple way to stake and create staking rewards for DAOs, social tokens or any ERC20.
You can use Roll Staking for things like liquidity mining (shout out to top Roll creator Whaleshark for paving the way in the early days with $WHALE staking and his liquidity pool) or simple collabs across communities – stake $TOM, get $DAVE. We will see both of these paths unfold and likely create new models as both products unfold.
For liquidity, Staking establishes a purpose-built on-chain market, expanding the potential for anyone to access a community by purchasing tokens and becoming a member.
Along with Minting, both of these products complete what Roll calls the on-chain creator economy for social tokens. This is a world where creators can own the foundation of their community through their own smart contracts and create contracts on the terms that matter to them and their community.
As an MVP, any DAO or creator can now mint, monetize and provide a market for their community through their social token with these products.
You can set up a staking contract right now for any ERC20 token here
If you have suggestions or want help setting up a staking or memberships contract, feel free to message us at [email protected].