This idea proposes an Ergo Raffle like lottery where there is a winner reward distribution, service, fee, but the unique part is the proceeds are:
- Donated back to the Ergo Network mineable supply to extend emissions and/or
- Sent to a mineable smart contract(s) with variable difficulties (optional)
It would be the perfect mix of rewarding miners, extending network security, and altruistic degenery.
Inspiration
It occurred to me thru a tweet where someone sent 26 bitcoin to Satoshi’s address to burn the coins (or for trolling), that it would be a good idea to send Ergo back to the “Network Supply” as a donation.
It then occurred to me this would be the perfect use case for an Ergo Raffle Lottery rewarding altruistic degenery to all.
Problem
In the Ergo Emission Curve, at block height 2,000,000 the inflation really flat lines and the supply will be mostly “flat”. This should really increase the Ergo demand for everyone including Miners.
At the long-tail emission time, Miners will get rewards from these sources:
- Emissions
- Fees & Rent
- Network Donations (new)
Proposal
Altruistic Donations
One can donate and send Erg to an Ergo Network Donation address to basically add to a mineable supply and help incentivize network security by keeping miners well fed.
The donation address is likely some kind of mineable smart contract box, if the coins can be sent to the Network Supply outright.
Altruistic Lottery
It’s much more likely DeFi in the form of a Lottery is the more sustainable and fun option.
One can create or donate to an Ergo Raffle where the donation proceeds are sent to the Ergo Network Donation Address which is a mineable smart contract (or the supply itself).
One could also create stand-alone custom donation address mineable smart contracts with custom difficulties (or random to create a lotter in itself) [Ref 1: @Hq3r idea]
Challenges
Is it possible to have mineable smart contract (box)? It appears yes per @CheeseEnthusiast, and I believe the genesis supply is in a “mineable box”.
It would be best for the lottery to have an exponential decay winner reward distribution option, this way it could range from a one winner take all to a long “fair” distribution based on risk/reward.
It would be best to have an Ergo Network Donation Address outright, not sure how this could be done (easy or hard?). Perhaps donation proceeds are sent right to the Miner Reward Box [Ref 2].
Disclosure: This idea may already exist or in piece parts. I haven’t done thorough research yet.
References & Related
- [1] @Hq3r & @CheeseEnthusiast for prior ideas and the discussion in Lithos
- [2] Miner Reward Box from Ergo Platform Emission Documentation
- Fee distribution, defi, raffle combination by @Dddlll
- Simple Crowdfunding
- A lottery on top of Ergo
