{"signature": "0xe97daadb50cf474b0f745f7759a9c362d891f07a843f37e0004d7e3ff2eee2e64c9708fcbb2e75a873982d67733f44e6685423bed2ecbbe9127bc193c3382a001c", "application": {"round": "0x57d6265c66981a6ead0a071cf17b504372930710", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "Dv0s6n4ccDJfbPyQYJZHZ3KqMXVvS17uKdNLPdcj5mfHn5JDVX9w5A3WS6I6XMKl", "encryptedSymmetricKey": "53295fbba31c14be23be7daffa01030952c81292849b385c586507bcc67f253ba96cd7cc4d9557922acfb66c22e22f0244a0f8d9199646b383ef3b9b9e19f21d3c92a789c3826c61e7c0b1b55cda15af2ef296331ec52411a2761c041407ebad3ca9ab44074cf9b4f49b475509a6a86de20293dc5da0dcc934a8b63d437e71cd000000000000002001b5730a214d64654c719687cabf84182c6782d11bfd48f544061c5da31324788bb1e90154011b018ff6c2f8bf0f598e"}}, {"type": "short-answer", "answer": "Gitcoin grants, Token Engineering Commons", "hidden": false, "question": "Funding Sources", "questionId": 1}, {"type": "number", "answer": "7", "hidden": false, "question": "Team Size", "questionId": 2}, {"type": "paragraph", "answer": "The Bonding Curve Research Group is an independent, decentralized team of scholars and engineers who came together out of a shared passion for researching, educating on, and applying bonding curves in practical ways.\n\n\nUnited by the mission of elevating bonding curves from an academic cryptoeconomic concept to an accessible building block that solves high-impact problems, the group brings together diverse skills across systems engineering, mathematics, modeling, economics, data and computer science, design, community building, and more. Since early 2023, the research group has hosted free public learning calls attracting hundreds globally, produced educational articles and videos demystifying concepts for mainstream developers, modeled live examples with partners and built open source libraries.\n\n\nThrough comprehensive investigations covering algorithmic design spaces, parametric simulations and models, use case prototyping, and monitoring of deployed examples, we intend to expand the design space of what\u2019s possible and responsible using programmable financial primitives. The research will tackle volatility for projects and ecosystems, access barriers around complex math for developers, the need for multi-disciplinary collaboration, and real world evaluation through case studies - while producing papers, interactive media, workshops, infrastructure and codebases that invite global collaboration.\n", "hidden": false, "question": "What is the desired impact you seek to create through your research, (ie what becomes possible for communities as the result of the research you conduct?)", "questionId": 3}, {"type": "multiple-choice", "answer": "Notion", "hidden": false, "question": "Collaborative Governance Mechanism", "questionId": 4}, {"type": "dropdown", "hidden": true, "question": "Do you agree to collaborate and coordinate with other grantees to collate and share your research, including group digital / print publishing and online dialogue, and to license this research under CC BY-SA 4.0?", "questionId": 5, "encryptedAnswer": {"ciphertext": "BKVhOE+pxC9MF1MeWWca5kdnFpaoGZ3a1PvOAgEmqKI=", "encryptedSymmetricKey": "41894596526704cba6573d02d305e76e2b95b9e8bd0ad7e781f95afd5fb81b16bae4654044cc1b047e0193d4fcbd2f0e17c94c551990da19170bd6fc6e22ae37d1c9fb6cf02789824bc7969144e6d4d6df4d6173c140b6b590bd0cc9424e84902ae7bb898615b69bd9f49e634d93c53454e4b4ef8ab3a691f6e5b791ef205f0300000000000000207e7939b7cc79b5a6b2174f2478cf517a0b6d4926b85668df9b95b3210472eaf5275b4d1b5f39824d7cdb3e233f92d781"}}, {"type": "dropdown", "hidden": true, "question": "Do you agree to report milestones from your research?", "questionId": 6, "encryptedAnswer": {"ciphertext": "ng1pLcEaLiC1YyjkVChcD1xBD1sYy9jWNg84DH31vYk=", "encryptedSymmetricKey": "58c142715619edd00a9cc586d57b56442fbaf691954ac52f237bef0e92e2c4beb10f161e62f5ee6781b0ae167eae42098e02e7e8f2446b1cfa0dc31c1c8e9f3201a2ae24b629ef209dff5069cc34e0d3f806d04242ef72719f057b06c63445ae95cd116bb76bfb0334ed4b716431c18cf7fba4ce7a78b8b72a049dedd7fbd72200000000000000200fc68667c103540df92abb3cce7998ed62bbb86ea7165cf6a6babfafb71c058ab583cc9c3cda642774651106bb626196"}}, {"type": "paragraph", "answer": "Summary of previous work\n15 Seminar Recordings\n2 Articles\n1 Python Package\n1 bonding curve deployment on Inverter Network\nhttps://www.inverter.network/\n\nEducational research and application documentation article on cryptoeconomic primitives:\nhttps://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/1Pxl_fbIPifIQ4_y0xoJGZGEk70qfOM3Gi9nWycm-8k\n\n\nEducational article and documentation & open source bonding curve modeling & simulation\nhttps://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/3gTCNW1LcsNd_O8zgfgERXnZhA_8wYyyHkZRe-oxIns\n\n\nHosting weekly free and open community research calls, building a knowledge library, and bonding curve case studies:\nhttps://auspicious-cap-b5c.notion.site/Bonding-Curve-Research-Group-a0fe00e81d84435a8fddd547a7888063\n\nLibrary of research discussions (videos) on bonding curves:\nhttps://www.youtube.com/watch?v=RTsyPd6Xk1U&list=PLl_NgvZc7atfookYgCUuvDLPzodhAyXJu\n\nBuilding social media and community connections\nhttps://twitter.com/Bonding_Curves\n\nModel walk-through video \nhttps://www.youtube.com/watch?v=pTThab0DSF4\n\nPython Library \nhttps://github.com/bonding-curves/conding\n\n", "hidden": false, "question": "Please describe your past history conducting research of this nature or the relevant skills that will support your work.", "questionId": 7}], "project": {"id": "0x77ad10f6532a1fe22e28870d7f4d73eb3b05331c9470ebf1356aed5d5a9ef240", "title": "Bonding Curve Research Group (BCRG)", "logoImg": "bafkreihm7vwebl3lu6gz5i245czbockzwc4v7f4zvh5ked2dzeebeeu4e4", "metaPtr": {"pointer": "bafkreihzagnpzgoln6dj5gahfwtiafcmviglmjb3ttgw5bslvf36uqi2qa", "protocol": "undefined"}, "website": "https://auspicious-cap-b5c.notion.site/Bonding-Curve-Research-Group-a0fe00e81d84435a8fddd547a7888063", "bannerImg": "bafkreicfu4kalr3c7w75ctggxystnjvtryzyh2e62lrtjaannslfktnlx4", "createdAt": 1692040900341, "userGithub": "jessicazartler", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..fFk70NN5Ju-395v8fp9UYUuXaNFZmVW7AzBePXEbH_bBOiLF20VC-G_0C6QdMosNnHKAECnM0osaY1MQuQThBg", "type": "Ed25519Signature2018", "created": "2024-04-11T22:46:43.106Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-04-11T22:46:43.106Z", "expirationDate": "2024-07-10T22:46:43.106Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xb2821C0DF0c414ff51D3e8033CBA26DF6AaC587b", "hash": "v0.0.0:wM+rca21gLszHDNNCCr9aTqqOHdEHoMPWfuVZiIt+IE=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#Bonding_Curves"}}}, "description": "\u2694\ufe0f The Challenge:\nIn the early days of crypto and ICOs, many projects and DAOs launched static supply tokens which struggled to expand and contract with bull and bear market swings, and are not adaptive enough for the dynamic nature of these nascent economies.\n\nThis has also been a huge challenge for token valuations, with many DAOs and organizations seeing massive selloffs and price drops in the 90%+ range. When token price is a primary driver of the capacity to carry out work in a DAO ecosystem, volatile token prices are a hindrance to production in Web3 organizations.\n\nMany DAOs and organizations are looking to move from static supply to dynamic issuance models and reduce volatility, however, many of these economic mechanisms and markets remain untested, and the designs need to be further studied and validated, in order to deploy safe and sustainable economies.\n\n\u2934\ufe0f Overview of Bonding Curves:\nBonding curves are an interesting new tool in the Web3 space that tie two or more elements of a system together through mathematical relationships encoded into smart contracts. Bonding Curves are a \u2018supply discovery\u2019 mechanism that allows new tokens to be minted (or burned) by the deposit (or withdrawal) of reserve assets when the demand for new tokens is greater (or less) than the available supply.  Also called automated market makers (AMMs), there are different types of bonding curves, including but not limited to constant product, constant function, concentrated liquidity, variable product, time-weighted, and even order book-based bonding curves. \n\nBonding curves have also been \u2018augmented\u2019 with the addition of common pool treasuries or even prediction markets, in order to improve the collective signaling capacity of these new tools for social and ecosystemic benefit.\n\nThis is just the beginning of their utility, and current tools have only taken the first steps to explore this design space. Bonding Curves are a gateway for engineered control systems to facilitate and improve the economic management and value accrual systems of Web3.\n\nRead more:\nhttps://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/1Pxl_fbIPifIQ4_y0xoJGZGEk70qfOM3Gi9nWycm-8k\nhttps://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/3gTCNW1LcsNd_O8zgfgERXnZhA_8wYyyHkZRe-oxIns\n\n\ud83d\udea6The Opportunity:\nBonding Curves provide an economic invariant between the supply of tokens and the reserve assets backing their value, making token price deterministic and providing guaranteed liquidity for tokens. Adjusting the circulating supply based on demand dampens the volatility and couples with the demand for the token\u2019s utility. \n\nUsing bonding curves as a continuous token issuance mechanism, organizations or communities can leverage algorithmic reserve and liquidity management strategies to provide volatility-damped token price fluctuations. The Token Engineering Commons Augmented Bonding Curve is a prime example of this, outperforming ETH through the bear market. Other blockchain ecosystems could employ these mechanisms to support their token economies\u2019 success. \n\nThese open source tools should be further studied, modeled and explored in order to maintain open libraries of tools and documentation and establish connections with organizations who need help designing and deploying them (which could also serve as opportunities for service groups to develop revenue streams for further work and research).\n\n\ud83c\udfaf The Purpose of this Research Group:\nOur mission is to drive forward the research, development, education, and application of Bonding Curves in their various forms. This research group will provide chain agnostic research, development, education, and application of Bonding Curves in their various forms. This R&D will attract new talent and interest in the field of Token Engineering and to other blockchain ecosystems. Additionally, it will support building a common understanding and language around bonding curves and their applications to DAOs, businesses, finance, and economics. \n\nThis research offers improvements for understanding the design and ongoing operation of these new economic mechanisms, benefiting the field of Token Engineering directly through upgraded tools like open source libraries, models, simulations, and dashboards. The research and development also has huge impact through networking and deal flow for any blockchain ecosystem that would like to make use of these tool sets, open libraries, primitives, and research.\n\nBonding curves are an emergent, Web3 native, economic primitive that redefine markets and liquidity. By determining price as proportional to supply, liquidity can be built into an economy, ending the era of market crunches, and enabling transparent and discoverable market prices for assets. The research, development and education in token economic primitives like bonding curves and cutting-edge research in the TE field has profound potential and implications for our economic systems.\n\n\ud83d\udcda Past Work & Achievements :\nThe BCRG was founded in March 2023 and has three operational workstreams including Education & Content, Research & Ideation and Bonding Curve Analysis & Modeling. Here is a list of some of the work produced:\n\n-Exploring Bonding Curves: Differentiating Primary and Secondary Automated Market Makers: https://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/1Pxl_fbIPifIQ4_y0xoJGZGEk70qfOM3Gi9nWycm-8k\n-Modeling & Simulating Bonding Curves: https://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/3gTCNW1LcsNd_O8zgfgERXnZhA_8wYyyHkZRe-oxIns\n-Knowledge Library - a collection of resources discussing bonding curves and the mechanism design space for crypto economic system: https://www.notion.so/Knowledge-Library-ea2a517d82b142778e033a45bc115a80\n-Case Studies (WIP) - case studies done on projects that have employed Primary Automatic Market Makers: https://www.notion.so/PAMM-Case-Studies-e994a43ab4dc4661aa355f868a20071e\n-Bonding Curve Classification Notebook (WIP) - a quick look at different kinds of curves and their equations: https://www.notion.so/Bonding-Curve-Classification-0e85d52249594c6aaaf7e3dcdcd958b1\n-Augmented Bonding Curve Model Github Repo (WIP) - an opensource python model used to simulate the Augmented Bonding Curve from the TEC ecosystem https://github.com/bonding-curves/conding\n-Bonding Curves Parameters Model: https://github.com/bonding-curves/conding/blob/main/conding/pamm/abc.py\n-Token Engineering Commons Dune Dashboard & Python Translation: https://dune.com/rxx_/bondingcurves\n-Open Research/Study Session Call Library: https://www.youtube.com/playlist?list=PLl_NgvZc7atfookYgCUuvDLPzodhAyXJu\n\n\ud83d\udcb8 Past Funding :\nWe applied for, and received, catalytic funding from the Token Engineering Commons, Retro PGF on Optimism, and are participating in Gitcoin rounds. However, we need further funding to continue of our research and development so are currently applying for grants.\n\n\ud83d\udd2c Further Research, Development, Education & Community Outreach:\n-Improved methodology for analyzing on-chain Bonding Curves data\n-Explore new bonding curve mechanisms such as -Shutdown & Liquidation Procedures\n-Develop gamified UX visualizations of the Bonding Curve where members can play with the parameter to see the final impact\n-Dogfooding an investable workstream and bonding curve with Inverter Network, which could become a template for other DAOs or organizations\n-Exploring volatility dampening mechanisms\n-Continuing our study sessions with invited guests from various token/blockchain ecosystems and building the video library\n-Educational posts and knowledge sharing on social media platforms\n\n\ud83d\udd0a How We Will Share Progress:\n-Bonding Curve Research Group platforms including Github https://auspicious-cap-b5c.notion.site/Bonding-Curve-Research-Group-a0fe00e81d84435a8fddd547a7888063\n-Transparent shared work processes (call notes, Miro board, call recordings as available)\n\nThank you for supporting Token Engineering public goods and the Bonding Curve Research Group! \ud83d\ude4f", "lastUpdated": 0, "projectGithub": "bonding-curves", "projectTwitter": "Bonding_Curves"}, "recipient": "0x29567BdBcC92aCF37AC6B56B69180857bB69f7D1"}}