Traction fund

[codingshot]

Requirements for traction.money

Overview

traction.money is a decentralized application (dApp) that facilitates the funding of smart contract applications based on their traction and usage. The system aims to incentivize the development of high-quality, widely adopted smart contracts by rewarding developers with funding proportional to the verified daily users and fees generated by their deployed contracts.

Functional Requirements

Smart Contract Submission

1. Developers should be able to submit the source code of their smart contracts to an open-source repository.
2. The system should verify the authenticity and ownership of the submitted source code.
3. Developers should provide a deployment address for their smart contract on the target blockchain network.

User Tracking and Fee Monitoring

1. The system should have a mechanism to track and verify the daily active users interacting with the deployed smart contracts.
2. The system should monitor and record the fees generated by the smart contracts on the target blockchain network.

Funding Allocation

1. The system should calculate the funding amount for each smart contract based on a predefined formula that considers the verified daily active users and the fees generated.
2. The funding should be distributed periodically (e.g., monthly, quarterly) to the respective smart contract developers.
3. The system should maintain transparency by providing a public ledger of funding allocations and distributions.

User Interface

1. The system should have a user-friendly interface for developers to submit their smart contract source code and deployment addresses.
2. The interface should display real-time statistics and rankings of smart contracts based on their traction and funding allocations.
3. Developers should be able to view their funding allocations and distribution history.

Non-Functional Requirements

Security

1. The system should implement robust security measures to prevent unauthorized access, data tampering, and potential vulnerabilities.
2. The smart contract submission process should include code auditing and verification to ensure the integrity and safety of the deployed contracts.

Scalability

1. The system should be designed to handle a large number of smart contract submissions and user interactions without compromising performance.
2. The system should be able to scale horizontally to accommodate increasing demand and workload.

Decentralization

1. The system should be decentralized and operate on a blockchain network to ensure transparency, immutability, and resistance to censorship.
2. The system should leverage decentralized storage solutions for storing and retrieving smart contract source code and related data.

Interoperability

1. The system should support integration with multiple blockchain networks and smart contract platforms.
2. The system should provide APIs and SDKs for developers to interact with the platform programmatically.

Incentive Mechanism

1. The system should implement a fair and transparent incentive mechanism to encourage the development and adoption of high-quality smart contracts.
2. The incentive mechanism should be designed to prevent gaming or manipulation of the system.

These requirements provide a high-level overview of the key features and functionalities required for the traction.money system. Detailed specifications, technical designs, and implementation plans should be developed based on these requirements.

Sources

To allocate funding based on verified daily active users, fees generated, and source code verification, the system could implement the following approach:

1. User Tracking and Fee Monitoring

   • Track and verify the daily active users interacting with each deployed smart contract.
   • Monitor and record the fees generated by each smart contract on the blockchain network.

2. Source Code Verification

   • Developers must submit their smart contract source code to the open-source repository.
   • The system verifies the authenticity and ownership of the submitted source code.
   • Verified source code contracts receive a higher weight in the funding allocation formula.

3. Funding Allocation Formula
   The funding amount for each smart contract could be calculated using a weighted formula that considers the following factors:

   • Daily Active Users (DAU): Higher DAU receives a higher weight.
   • Fees Generated: Higher fees generated receive a higher weight.
   • Source Code Verification: Verified source code contracts receive a higher weight.

   For example, the formula could be:

   Funding = (DAU * W1) + (Fees * W2) + (SourceCodeVerified * W3)
   

   Where W1, W2, and W3 are configurable weights that determine the relative importance of each factor. The weights could be set such that W2 > W1 > W3, giving more importance to fees generated and daily active users over source code verification.[1][2][3]

4. Periodic Distribution

   • The calculated funding amounts are distributed periodically (e.g., monthly, quarterly) to the respective smart contract developers.
   • A public ledger of funding allocations and distributions is maintained for transparency.

This approach incentivizes the development of widely adopted and actively used smart contracts that generate significant fees for the network, while also encouraging developers to submit and verify their source code for added transparency and trust.[4] The configurable weights allow the system to prioritize the desired factors based on its goals and objectives.

Sources
[1] [PDF] On Blockchain- and Smart Contract-Based Financial Markets https://files.stlouisfed.org/files/htdocs/publications/review/2021/04/15/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets.pdf
[2] Tracking an Iteration in Crypto Investment Schemes: Smart Contract ... https://www.trmlabs.com/post/about-smart-contract-based-investment-schemes-tracking-a-new-iteration-in-crypto-investment-schemes
[3] Earn Passive Income with Smart Contracts: The Complete Guide https://unicornplatform.com/blog/earn-passive-income-with-smart-contracts-the-complete-guide/
[4] Smart Contracts in Financial Services: A Comprehensive Analysis of ... https://www.linkedin.com/pulse/smart-contracts-financial-services-comprehensive-analysis-chandra-o463c
[5] How to Analyze a Smart Contract - Token Creation and Swapping https://www.citrincooperman.com/In-Focus-Resource-Center/How-to-Analyze-a-Smart-Contract---Token-Creation-and-Swapping