{"type": "project", "title": "Credible Commitment Mechanism ", "website": "https://noneyet.com", "createdAt": 1681822205039, "credentials": {}, "description": "I want to create a credible commitment mechanism.\n\nThe idea is the following: lots of coordination failures happen because there are no credible commitment mechanism that adequately shape incentives. I want to solve that through conditional staking promises: you can  stake X money on doing Y by time T if N other people stake on the same promise. Once N is reached the commitment is locked. By time T if you didn\u2019t do Y you lose your money, if you did do it you get your money back *plus* all the money staked by people who didn\u2019t follow through, based on what percentage your X money staked was of the total money staked.\n\nThis suffers from the Oracle Problem so the MVP will be entirely about location-based commitments which can be checked through one's phone's GPS signal.\n\n"}
Credible Commitment Mechanism 
I want to create a credible commitment mechanism.

The idea is the following: lots of coordination failures happen because there are no credible commitment mechanism that adequately shape incentives. I want to solve that through conditional staking promises: you can  stake X money on doing Y by time T if N other people stake on the same promise. Once N is reached the commitment is locked. By time T if you didn’t do Y you lose your money, if you did do it you get your money back *plus* all the money staked by people who didn’t follow through, based on what percentage your X money staked was of the total money staked.

This suffers from the Oracle Problem so the MVP will be entirely about location-based commitments which can be checked through one's phone's GPS signal.


Credible Commitment Mechanism 