Native - Build prosperous Communities & empower them through decision making tools

The logo is taken from Native website

Introduction

The conventional centralized economic system has never paid attention to the inherent values of an individual or a society or a community and hence the community of various types has not been flourished to its full potential over years and hence an individual has always been restrained passively to express himself/herself.

Since 2009 we are in an era of cryptocurrency which works on the top of a blockchain technology. The blockchain technology has already eliminated the intervention of a third party and has given the true authority to a user/owner and the owner is free to make his/her own choice to set the exchange value of his/her asset with another person.

But the most interesting feature of the blockchain technology is that it has always encouraged the inherent values of mankind, society and/or community and with a blockchain technology a community can independently realize its inherent values without any third party intervention.

Native is one step forward to encourage an individual to recognize his/her inherent values and encourage to converge those local interests into a common global interest through the power of a community. So different set of communities can grow based on the shared common interest of the individuals. These communities are further empowered by tokenization and decision making tools. Native again creates an aligned interest within these communities. This gives rise to the introduction of NATIVE.

So in the following way, we can best describe about Native:-

(1) It is a network of communities which empowers the communities for its growth.
(2) The members of the community decides the goal of the community.
(3) Native is a distributed team of professionals who are responsible for the creation of an effective user interface so that the various communities can operate in a tokenized economy.
(4) It is imperative to say that the various communities are the foundation stone of Native as a whole.

There are three basic and fundamental aspects which constitute the Native platform as a whole.

(1) Cryptocurrency
(2) Community
(3) Economy

(1) Cryptocurrency

It is the basic essential of Native platform as without a decentralized currency, without blockchain the vision of Native can never be achieved. So a cryptocurrency is the first basic essential element of Native platform which ensures the complete authority and ownership to the fund owner.

Native helps people (without prerequisite of having technical knowledge of cryptocurrency) to create and use their own digital token.

These tokens are reliable and exchangeable.

(2) Community

It is a group of people where the individual inherent interest converge into a shared common global interest of the community and the individuals engage to materialize the common goal of the community.

Native always aims to encourage mutual interest and commitment of the members of a community to achieve the goal.

(3) Economy

An Economy always fosters in effective and appropriate management of resources. From economical point of view, any community or any system is scare in resource. In other words the resources are limited parameters and hence a successful and stable community is one which makes effective and optimal use of limited resources.

Native ensures that there is healthy rotation of resources between the various people of the community in an effective way and to make it sustainable it ensures availability of effective decision making tools.

Until now we are living in such a society or an Eco System where either the inherent values of an individual are underutilized and/or not at all recognized and this has resulted into a scenario where the communities are less empowered, less autonomous and never exercised that level of freedom and that is why neither the individuals nor the communities have flourished truly over years.

So there is a need of free society.

So there is a need of sovereignty .

So there is a need of autonomous society.

So once we have the free, autonomous and sovereign society which can recognize the inherent values of individual and formulate a platform where these individuals can meet and set up a common perspective for the community and put their time and effort to achieve the common goal of the society/community.

Operational module of Native

Native ensures instant liquidity. This is achieved through autonomous market making algorithm.

Each community has its own currency.

Tokens within Native are deployed as Bancor Smart Tokens. This hold a reserve in base currency.

So Reserve+Autonomous Market Making Algorithm =>Conversion/flip between any two tokens within the community(without any intervention of third party)

The operational module of Native platform uses "continuous token model" in which the tokens are minted and destroyed, as an user interacts with the smart contract. This is done to absorb the fluctuations and to keep the supply stable so as to ensure liquidity and it has the following advantages:-

(1) It ensures instant liquidity
(2) It indicates accurate market size.
(3) Only that much tokens are generated, which are needed.

Deposit

Funds sent into a token are split into three paths.

Community Fund - It is the resource pool for community funding.

Smart Token Converter - It is used to modify price/supply based on connector weight.

Connector Balance - Direct addition of value to existing token supply.

Note - It must be noted that different communities will have different types of optimal split which is determined by the particular community.

Redemption

When the tokens are sent back to smart token contract, the tokens are exchanged for base currency held in reserve. No funds from the community fund are removed during a redemption.

Redemption ====>Connector balance decreases====>Liquidity for that token decreases.

Upon redemption base currency is sent to the user's wallet.

Connector/Reserve and Token Pricing

Connector/reserve Balance - Value of Base Token held in Reserve
Outstanding Supply - Number of Tokens in Circulation
Connector Weight - Connector Balance/Market Cap

Credits

NTV

It is the base currency or native token for all the communities on Native.

It provides membership to the native community, so in other words it is the gateway to Native.

NTV holds a reserve in BNT (Bancor Network Token)

Native Token Conversion will utilize the following split initially:-

Community Fund - 50%
Smart Token Converter - 50%

Native will maintain 10% connector weight initially to ensure liquidity.

Note - Native reserves the right to modify the reserve breakdown.

Community Currency

These are the local currencies for each community.

Initial Split Recommendation :-

Community Fund - 80%
Smart Token Converter - 20%

Note - Once the community is functional the split recommendation will be based on actual community size and type.

Credits

Valuations & Implications

In order to ensure a fair valuation of a community the following parameters are given due consideration:-

(1) Reserve Balance/Connector Weight
(2) Trustworthiness of the Curator
(3) Seriousness of the members within the community towards its goal.
(4) Size of the community.
(5) Active members of a community.
(6) Community Fund Balance and its effective spending.
(7) Impact of the community on its members.
(8) Value of membership benefits.
(9) Evaluation of the present and future potential revenue.

User Types in Native

User types in Native platform are categorized into two types:-

(1) Curators

It is a group of individuals who have a precise knowledge of a community's initial vision and they act on their part in such a way that the correct and beneficial information and content are available to the member. Curators can approve or deny the work completed by the members.

(2) Members

When the individuals with aligned interest come together to forma community and to set and achieve a goal, then these individuals are called as the members of the community and they are the decision makers and the actual catalyst in the progress and development of the community.

The Eco System of Native is designed in such a way that the progress and development of a community is ensured regardless of the external contraction or expansion.

Implication of Native Eco System

Since the Eco system of Native has always emphasized on aligned interest of the communities, it has the provision that the communities within Native can swap token between them.

Community Features

It enables an user interface for transparent decision making by the members. Here all the component except financial component are centralized to save on transaction cost.

Dashboard

Users access their respective communities using Web3 wallets which serves the dual purpose of identification and transaction. The detailed overview is displayed on the dashboard of each community.

Community Token Functionality

In order to participate or join a community, it requires conversion of native token to community token and the number of community token required is determined by the curator. After joining, the participation rights is given to the member.

Enhancement of Community Fund

Enhancement of community fund can happen in the following way.

New members joining=>Acquisition of community token=> projects proceed recycling into the community

Collective Decision Making tools

The decision making process is routed through proposal of projects followed by polling/voting by the members of the community and finally the tasks are created by the curators which is claimable by the members of the community.

It lays out a framework for the operating module of the Native platform and we can understand it better from the following illustration.

So right from the community set up to allocation of fund to implementation of project to making the members inclusive in the decision making process to achieve the goal, the evolution of members and the community become stronger and at the end, the entire Eco System gets healthy and if there is a revenue generation, then the funds can be re-deposited to community fund or can be deposited to connector balance to stabilize the existing supply.

So it emphasizes on such a module which works under the principle that what comes from people of the community must go back to them in another form such as revenue, reward etc.

Note

For the users to be able to participate in Native platform, they should have Etherum and Metamask wallet. This is essential because Native Token is an Etherum based token and one must have Etherum to be able to buy Native Token.

More Information and Resources

https://steemit.com/crypto/@originalworks/1100-steem-sponsored-writing-contest-native

native2018

This article is written with reference to the contest organized by @originalworks and The details can be read from the following link.