Gov/en/Portal:R&D/Innovations:Bonding Curve: Difference between revisions
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Every new platform faces the same bootstrapping question: why would anyone support a project before it has proven itself? The first supporters carry the most uncertainty, so fairness suggests they should receive the most in return. The Bonding Curve is WikiDeal's answer: a public, verifiable formula that anyone can check, designed so that trust comes from transparency rather than from promises. | Every new platform faces the same bootstrapping question: why would anyone support a project before it has proven itself? The first supporters carry the most uncertainty, so fairness suggests they should receive the most in return. The Bonding Curve is WikiDeal's answer: a public, verifiable formula that anyone can check, designed so that trust comes from transparency rather than from promises. | ||
{{ArticleSummary| | |||
* [[#how-it-works|How the Bonding Curve is intended to work]] | * [[#how-it-works|How the Bonding Curve is intended to work]] | ||
* [[#jump-after-donation|No curve inside a donation: the jump comes after]] | |||
* [[#formula|The mathematical formula]] | * [[#formula|The mathematical formula]] | ||
* [[#visualization|Text-based visualization]] | * [[#visualization|Text-based visualization]] | ||
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* [[#transparency|Transparency commitment]] | * [[#transparency|Transparency commitment]] | ||
* [[#state-of-the-art|State of the art]] | * [[#state-of-the-art|State of the art]] | ||
}} | |||
__NOTOC__ | __NOTOC__ | ||
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For a supporter, the experience is simple: Anna supports with CHF 100 when the reserve is nearly empty and would receive far more Rewards per franc than Ben, who supports the same amount a year later when the platform is established. Both can verify their calculation themselves, because the formula is public. | For a supporter, the experience is simple: Anna supports with CHF 100 when the reserve is nearly empty and would receive far more Rewards per franc than Ben, who supports the same amount a year later when the platform is established. Both can verify their calculation themselves, because the formula is public. | ||
<span id="jump-after-donation"></span> | |||
== No curve inside a donation: the jump comes after == | |||
There is no "curve" running inside a given donation: a donated amount does not see its multiplier decrease along the way. The multiplier applied is the one in force at the moment of the donation, for the whole amount. What the curve describes is a '''jump''' (an adjustment) recalculated '''after''' each donation, according to the Bonding Curve and the [[Gov/en/Portal:Economy/Need-Driven-Funding|Need-Driven Funding]] stabilizer. | |||
Example: if the multiplier stands at ×65, a donation of CHF 1,000 is entirely multiplied by 65 (65,000 Rewards). After the transaction, the multiplier makes a jump, for instance down to ×63.8, which applies to the next donation only. | |||
<span id="formula"></span> | <span id="formula"></span> | ||
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<span id="relation"></span> | <span id="relation"></span> | ||
== Relation to Rewards and Karma tokens == | == Relation to Rewards and Karma tokens == | ||
The bonding curve determines the ''total'' Rewards generated. The [[Gov/en/Portal: | The bonding curve determines the ''total'' [[Gov/en/Portal:Economy/Rewards|Rewards]] generated. The [[Gov/en/Portal:Economy/Need-Driven-Funding|Need-Driven Funding]] mechanism and the donor's own choice at donation time then determine how many of those Rewards the donor keeps and how much is left to the project as pure support (see the [[Gov/en/Portal:Economy/Rewards-FAQ|Rewards FAQ]] for the formulas currently proposed). [[Gov/en/Portal:Economy/Karma-Tokens|Karma tokens]] are a separate, non-convertible form of Rewards, documented on their own page; the bonding curve does not determine them. | ||
<span id="transparency"></span> | <span id="transparency"></span> | ||
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* Ethan Mollick (2014), ''The dynamics of crowdfunding: An exploratory study'', Journal of Business Venturing, 29(1): [https://doi.org/10.1016/j.jbusvent.2013.06.005 doi:10.1016/j.jbusvent.2013.06.005]. | * Ethan Mollick (2014), ''The dynamics of crowdfunding: An exploratory study'', Journal of Business Venturing, 29(1): [https://doi.org/10.1016/j.jbusvent.2013.06.005 doi:10.1016/j.jbusvent.2013.06.005]. | ||
'''See also:''' [[Gov/en/Portal:Economy/Rewards|Rewards Explained]] · [[Gov/en/Portal:Economy/ | '''See also:''' [[Gov/en/Portal:Economy/Rewards|Rewards Explained]] · [[Gov/en/Portal:Economy/Rewards-FAQ|Rewards FAQ]] · [[Gov/en/Portal:Economy/Need-Driven-Funding|Need-Driven Funding]] · [[Gov/en/Portal:Economy/Revenue-Structure|Revenue Structure]] · [[Gov/en/Portal:Economy/Karma-Tokens|Karma tokens]] · [[Gov/en/Portal:Economy/Main|Why Fund WikiDeal]] · [[Gov/en/Portal:R&D/Open-Calls:Main|Open Call Guide]] | ||
💡 '''Improve this concept''': submit a proposal via [[Gov/en/Portal:R&D/Open-Calls:Main|Open Call]] | 💡 '''Improve this concept''': submit a proposal via [[Gov/en/Portal:R&D/Open-Calls:Main|Open Call]] | ||
[[Category: | [[Category:Funding]] | ||
[[Category:Innovation]] | [[Category:Innovation]] | ||