GPT4’s thoughts on the idea:
The idea proposed in the forum post revolves around the concept of shared ownership of smart contracts on the Zenon Network Model (NoM) or any extension chain. Here are the benefits of such an idea:
Economic and Market Benefits:
- Collective Ownership: Smart contracts can be auctioned and sold to multiple buyers, allowing for collective ownership.
- Revenue and Governance Sharing: Multiple owners can share potential revenue and participate in governance.
- Token Burn or Return: ZNN tokens used for purchasing shared ownership can be burned or returned, impacting token economics.
- Market Expansion: Introduction of infinite layers of markets and potential for leverage trading.
- Economic Usecase: ZNN becomes the primary governance currency for all projects on the NoM.
- Economic Stimulation: Buying shares in smart contracts can stimulate economic activity and increase liquidity.
- Asset Diversification: Stakeholders can diversify investments by owning shares in multiple smart contracts.
Innovation and Development:
- Distinctive Narrative: Differentiates Zenon from other major blockchain networks.
- Diverse Input and Innovation: Multiple owners bring diverse perspectives, leading to innovative solutions.
- Feedback and Iteration: Continuous feedback from stakeholders leads to iterative improvements.
- Holistic Development: Diverse stakeholder inputs lead to comprehensive smart contract development.
Governance and Community Building:
- Initial Smart Contract Offering (ISCO): Monetization of on-chain software in an IPO style.
- Dynamic Governance Models: Creation of evolving decision-making processes based on feedback.
- Community Building: Fosters a strong community around the smart contract.
- Stakeholder Accountability: All stakeholders are accountable for their actions.
- Barrier Reduction: Lowers barriers to entry for smaller investors or entities.
- Synergistic Collaborations: Collaborations between stakeholders lead to synergistic solutions.
Security and Compliance:
- Enhanced Trust and Transparency: Actions and decisions related to the smart contract are visible to all stakeholders.
- Risk Distribution: Risks associated with the smart contract’s performance are distributed among stakeholders.
- Regulatory Compliance: Clear ownership stakes and transparent operations facilitate adherence to regulatory requirements.
- Enhanced Security: A larger pool of stakeholders contributes to the security of the smart contract.
- Safeguard Against Monopolies: Acts as a safeguard against any single entity dominating the smart contract.
Operational and Strategic Benefits:
- Potential for Broader Adoption: Broader adoption and usage due to promotion by multiple stakeholders.
- Reduced Centralization: Prevents centralization of power and control.
- Incentivized Maintenance and Upgrades: Collective incentive to maintain and improve the smart contract.
- Stable Growth: Diversified ownership leads to balanced and stable growth.
- Enhanced Dispute Resolution: Effective and fair dispute resolution mechanisms.
- Strengthened Branding: Benefits from the branding and reputation of multiple stakeholders.
- Resource Pooling: Stakeholders pool resources for the success of the smart contract.
- Increased Stakeholder Engagement: Higher engagement levels from stakeholders.
- Network Strengthening: A stronger overall network around the smart contract.
- Shared Learning: Stakeholders gain insights from each other’s expertise.