Proof of Value (PoV) is an original consensus mechanism developed by DAism, governing smart commons and tokenomics. We believe it's also a governance consensus toward a new human civilization.

The term Smart Commons refers to smart creative commons, (including dApps, open source stuffs like games, AIs, EIPs and other technical standards, papers) that adhere to the SCC0 license (the introduction is below).

Tokenomics refers to economic activities driven by governance consensus and value theory based on Proof of Value, primarily facilitated by smart contracts and AI technology. The early days of tokenomics also included investment activities, as well as market rewards for developers of Smart Commons. Tokenomics is set to become the main economic toward humanity's new civilization because it will disrupt the power of capital and capitalist production relations, profoundly changing human lifestyles.

Governance Philosophy of Proof of Value

When discussing consensus mechanisms, Bitcoin's Proof of Work (PoW) often comes to our minds first. It was also a governance consensus mechanism previously used by Ethereum.

Bitcoin's Proof of Work is a governance consensus driven by rewards, with bookkeeping as its core task. Bitcoin uses all 21 million BTC as a public reward fund, along with transaction fees contributed by users, to reward valuable work. This is done in a decentralized, censorship-resistant, and transparent way, producing a reliable ledger through anonymous collaboration!

DAism's PoV shares the governance philosophy with Bitcoin's PoW and Ethereum's current PoS (Proof-of-Stake), driven by rewards and grounded in the foundational principles of blockchain - decentralization, anti-censorship, and transparency. What special lies in its dual purpose by governing both smart commons and tokenomics.

It's worth mentioning that PoV, is built on smart contract technology for governance consensus. Unlike Bitcoin's PoW and Ethereum's PoS, which are based on Web2 technologies for blockchain governance (essentially still apps), we know that only smart contract technology can create truly decentralized, censorship-resistant, and transparent applications (dApps). Therefore, PoV is set to replace Ethereum's PoS in the future, becoming the core consensus mechanism for Ethereum.

Technical Stack of Proof of Value

DAism is not a public chain, it is a Smart Common (public dApp) deployed on Ethereum.

DAism's Proof of Value is quite complex, comprising seven governance protocols, a governance network, and a governance fund.

Seven Governance Protocols

One Governance Network

💱 IADD Network

One Governance Fund

💖Satoshi uToke Fund

Similar to the governance fund made up of 21 million BTC based on Bitcoin's proof of work, it is a public governance fund of Proof-of-Value and is used to fund or reward all valuable human governance (like welfare) or human activities (including but not limited to material production). The amount of its fundingis approximately: 1.15792x10^69 UTO. The reasons and mechanisms behind its issuerance are quite complex, so if you want to learn more, please read the "DAism Whitepaper" and "Unit of Price & uToken".

Briefly, the inevitability of the algorithm and the governance of human society are truly a match made in heaven. The scope of the role of proof of value can continue to expand in the future, relying heavily on the Satoshi UTO Fund, complemented by a wide range of third-party applications (both dApps and apps). A typical example is the dApp Honor Tokens launched simultaneously with DAism.

Foundamental License: SCC0

Proof-of-Value requires developers to accept the SCC0 license (Smart Creative Commons 0), while minting their smart creations, like dApps or open source softwares, into smart commons.

In other words, what we call smart commons refers to public smart creations that follow the SCC0 license - they are "smart" because they are based on smart contracts, which's even self-executing; Under the public characteristics that smart contracts can achieve, such as transparent, decentralized, permissionless, censorship-resistant, trustless trust, and freely combinable, further ensuring their public nature through the SCC0 license is what we refer to as public commons.

SCC0 v1.0b

Minting a smart common with a smart contract or a wallet address(EOA) under this license signifies that this smart contract or EOA, along with its reliable components as a whole, is governed by the exclusive terms of this license.

We all know that the owners (or developers or managers) of any smart contract or any EOA is anonymous. Because of this anonymity, no one can prove who has any rights or who bears any responsibilities or who is even a victim of any disaster.

1. All smart contracts and their related components, for example, any smart contracts and its frontend of a dApp, or any open-source software associated with a wallet address, accept Proof-of-Value's governance.
2. No rights other than receiving anonymous awards
   Anonymity means that the developed smart contracts and their related components are fully contributed to the public domain, belonging to the Smart Common. Apart from enjoying the awards brought by Proof-of-Value (PoV), all other rights, including all related rights and neighboring rights, are entirely relinquished.
3. No Liability
   Anonymity also means that no one in this world makes any warranties about a dApp and its exclusive valuation tokens, no one assumes any joint liability.
   When using or calling the dApp, or investing in the smart common's exclusive valuation tokens, no one may imply endorsement by the smart common or anyone related to the smart common.

The purpose of this license is to enable all developers to collectively develop public dApps.

Overview of Proof of Value

On DAism, whenever any developer calls his smart contract or use his EOA to interact with DAism's Smart Common Minting smart contract, by signing an agreement designating its smart contract, along with any indivisible and non-counterfeitable components it may have, as a whole (i.e., dApp), or his creation (dpp, EIP, AI, paper, etc.) to the public domain, DAism issues an exclusive Valuation Token for that smart common. And all tokens are fully supplied to the decentralized valuation network, the aforementioned IADD Network.

Then investors decide whether to invest in this Valuation Token, and the amount of investment, based on their judgment of whether the Smart Common has any application value.

When investors trade any Valuation Token, the exchange fees are rewarded to the corresponding development team. In essence, one of the core missions of the IADD Network is to reward the exchange fees of any Valuation Token to its smart common's developer(s) - a logic entirely consistent with Bitcoin's PoW and Ethereum's PoS rewarding transaction fees to miners. Therefore, we also believe that Proof of Value can greatly promote the flourishing development of Smart Common, which is governed under CC0 license, with an unique valuation token and is also a workstation for the developer(s) to manage its DApp's versions, awards and tips.

At the same time, for investors, their investment behavior becomes an assessment of the value of each Smart Common, which undoubtedly holds significant value.

Also, from a market perspective, DAism has achieved a revolutionary decentralized exchange network known as the IADD Network. Its revolutionary exchange mechanism brings unparalleled Investment Friendliness, such as effectively combating capital manipulation of token prices, ensuring that the first investors never incur losses, etc. Its exchange mechanism is so exceptional that it could be considered an investment haven. As long as they adhere to value investing principles, they clearly have the opportunity to reap substantial rewards. This is another significant implication of Proof of Value.

Therefore, in conclusion, Proof of Value will bring us a robust investment market (i.e., Good Tokenomics).

Governance Objectives of Proof of Value

The governance objectives of Proof of Value aim to promote the development of valuable Smart Commons and achieve Good Tokenomics.

For developers, Proof of Value introduces a unique decentralized reward mechanism. As long as their Smart Common is deemed valuable by investors, developers can receive rewarding returns, and the magnitude of these returns is closely tied to the size of the valuation. Therefore, Proof of Value provides significant motivation for the development of Smart Commons!

Good Tokenomics is another major vision that can be achieved through Proof of Value. As mentioned earlier, Tokenomics primarily refers to investment trading activities and financial behaviors associated with dApps.

The concept of Good Tokenomics is simply a tokenomics or a market that is scientific, fair, immune to manipulation of token prices, and adheres to value investing.

Good tokenomics is another major vision that Proof of Value aims to achieve. As previously mentioned, early tokenomics will mainly focus on investment and trading activities, as well as rewards for Smart Common developers. In the long run, good tokenomics is a scientific, fair, uncontrollable, and value-oriented tokenomics. For example, currently, any dApp can issue tokens with self-defined rules, which is an improper financial behavior. Such financial behavior that exploits or even cheats investors through token issuance would not occur in Good Tokenomics.

In Conclusion

Proof of Value inherits the governance concept of Proof of Work from Bitcoin and extends it to the governance of smart commons and tokenomics.

Like a stroke of genius, Proof of Value establishes a crucial value theory for tokenomics through smart contracts,  creating a revolutionary decentralized valuation and investment market. Simultaneously, Restoring order, the governance of smart commons, including dApps, categories like gaming and AI, papers, EIPs, and technical standards across various industries, has established new codes of conduct and reward mechanisms.

We believe that DAism's Proof of Value will ignite the era of Blockchain 3.0, marking the advent of the value-oriented investment market and the flourishing development of Smart Commons!

Finally, you may have noticed there's a little secret in the Proof of Value…

What I can tell you now is that the Satoshi UTO Fund is a huge governance fund owned by the PoV (Proof of Value). The immense potential of DAism's PoV is to achieve the communist vision that Karl Marx predicted. If your smart common is a global project that benefits everyone (including rewards for valuable actions), then the Satoshi UTO Fund will directly inject UTO into your smart common based on established (pre-arranged universal) rules. So, with everyone's development and widespread cooperation, we'll break through boundaries, ultimately realizing an exciting grand vision where everyone has basic security in their lives and any valuable action they take gets rewarded! If we truly achieve this vision, humanity will genuinely welcome a new civilization!

More about DAism

DAism test version has been openned on Sepolia: DAism.io （will be DAism.io/test after DAism published on Ethereum Mainnet）

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Whitepaper: Whitepaper

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