What is SolClub?
SolClub is an ethereum backed social club. Dapps work better when they have a community of users behind them, and I’d like SolClub to be the foundational “user account” layer for all the Dapps that I build.
Why would I want to join?
- SolClub members get to share in Dapp profits. All revenue from my Dapps will first go through SolClub, where members share in the spoils.
- SolClub members get special privileges. Members will get certain fees waived, special beta access, etc.
- You enter an elite echelon of intelligent, industrial individuals hoping to make the world a more fun, fair, friendly, and fascinating place.
How do I sign up?
Currently, membership is only available to Reddit users. Just send a private message to reddit user “royalforkblog”, with your ethereum address in the subject line, and I’ll send you instructions on how to join.
Can you cite your sources?
Is there a TLDR of the source code?
SolClub has the following properties:
- Owner signs hash(address, username, endowment), and sends to member
- Member registers with username, endowment, and signature to create new account.
- Mod creates new member.
- Members are first eligible to withdraw dividends for the period after account creation.
- Members can be removed at discretion of the owner.
- Karma is created by initial member creation endowment.
- Karma can also be minted by mod into an existing account.
- Karma can only be transferred to existing account holder.
- Karma implements the ERC20 token interface.
- Each member can withdraw a dividend once per month.
- Dividend is total contract value minus owner cut at end of the month, divided by total number of members at end of month.
- Owner cut is determined at beginning of new period.
- Member has 1 month to withdraw their dividend from the previous month.
- If member does not withdraw their dividend, their share will be given to owner.
- Mod can place a member on a 1 month “timeout”, whereby they won’t be eligible for a dividend.
Eg: 10 eth is sent to the contract in Period 1, owner cut is 30%. There are 70 token holders at end of Period 1. At any time in Period 2, each token holder can withdraw .1 eth for their Period 1 dividend.
How is this different than Reddithereum?
There are a few differences:
- First, at the end of every period, I collect unclaimed dividends for myself. If a user likes the work I’m doing and wants to contribute to my wellbeing, they just leave their divident unclaimed and it helps me justify the many, many hours it takes to make quality products.
- I have the ability the ban users, if they do something illegal or cause problems for the larger community. An unfortunate, but necessary feature, and one I promise to use with discretion.
- I can also claim a cut of profits on the front end. This will cover expenses and nothing else (server costs can add up for more ambitious projects…running archive nodes is not cheap).
- Period length has changed from 1 month to 15 days. Lets new members get involved earlier.