We are the community behind Thetta: an open source solution that helps you to start a tokenized Microcompany (imagine a startup or a project, from one to thousands of participants, open or private). Example: The web application UX designer may be compensated in project tokens based on the percentage of paying customers. These tokens will also allow a certain amount of governance rights in the project. Also, the UX designer gets reputation tokens that can be cashed out, but can be never traded or bought
“Traditional firms will transition to decentralized organizations. We’re already seeing this happen slowly. Brave and Kik are two early examples of firms that have tokenized and Dust and YouNow are two firms that are in the process of tokenizing. Tokenization is an important first step, but after tokenization it’s equally important that these projects put in place systems that persist over time with good incentive structures and govern themselves without central decision makers."
"In short: tokens will eat the enterprise from within, because investors will make money
and the community will gain. We’ll have crypto tribes that started as companies.
Repeat across many enterprises and it means goodbye to the stock market.
Numerai switched to rewarding its community of data scientists in tokens, turning zero-sum game among scientists to a positive-sum game."
"The friction today is not knowing what. The friction is not knowing who. The friction is transaction costs..."
"Up to now, the internet has been the most socially scalable technology ever invented. It enabled new business models by bringing transaction costs down by an order of magnitude.
Over the next two decades, blockchains will bring transaction costs down yet another order of magnitude. It will enable as yet unconceived of business models."
"A tokenised approach gives the ability to attract the best developers because they can contribute and be rewarded directly in token value rather than a salary or illiquid equity. All participants are incentivised to build a protocol and economy that is a public good rather than something that can be bought or sold quickly and easily to meet quarterly targets and investor demands."
"Tokenization is the ultimate market maker. It will bring liquidity to a huge number of previously illiquid assets. The UX designer of a web application’s onboarding sequence may be compensated in tokens based on the percentage of free trials which become paying customers. These tokens will also allow a certain amount of voting rights in the project, making projects increasingly subservient to participants rather than organizers, but no less political."
Microcompanies should evolve, change and adapt.
Governance is a process of producing decisions that affect the governed resources.
They do that because they are incentivized.
Thetta uses Quadratic Voting, Bonded Voting, Partial-Lock Commit-Reveal Voting, Futarchy and Token-Curated Registries to govern a Microcompany.
Reputation is what drives participants to do their best, in addition to other incentives.
Reputation cannot be bought;
Reputation is non-transferrable;
Reputation can be delegated;
Reputation can be cashed out when leaving.
Issue different classes of tokens;
Set vesting schedule;
Start the Presale, ICO, Donation, Bounty campaigns for your Microcompany.
Design your own Microcompany.
Is it a flat organization with no Board of Directors (BoD)?
Is it a non-profit organization with three owners?
Is it a crypto-startup?
Is it an open source community?