Introducing Breadchain Version 0.1: Building Web 3.0 Tools for Radical Organisations
Inspired by the mission and success of BreadTube, a loose association of YouTubers working to fight against the dominance of right wing content on YouTube, Breadchain is a loose organization of blockchain or DLT (distributed ledger technology) based projects that are working to advance a more progressive vision for this technology and its effect on society. The primary goal of this endeavor is to challenge the largely conservative and outdated economic models and assumptions in which many cryptocurrency and DLT projects are built upon and demonstrate that an alternative, more cooperative framework is possible.
In order to accomplish this, we adhere to particular principles and goals to guide the development of projects in the network and when working with each other. Our current guiding principles and goals are as follows:
Economic Democracy - We strive for an economy in which resources are allocated democratically rather than solely through market forces.
Mutual Aid - We are only as strong as the weakest among us which is why everyone should be entitled to the things they need to live a dignified life.
Transparent governance - Everyone should be able to have a say and those given power by the community must be held responsible for their decisions for all to see.
Dual Power - We must build parallel institutions from the grassroots using the tools we have because technology without direct social intervention only favors those in power.
To stay true to these principles, the Breadchain legal entity will be incorporated as a cooperative, likely owned by a representative from each project part of the network of Breadchain projects (aka the Breadchain Network). The exact governance and country of establishment has yet to be defined.
An important aspect for open source projects like these for economic sustainability is the mechanism which funds are raised. Breadchain will not seek funds from venture capitalists nor take on burdensome amounts of debt in order to fund its operations. Instead, Breadchain will largely be funded through four different forms of donations from those who agree with the vision of Breadchain and would like to help fund DLT-based projects in the Breadchain Network.
So far we’ve determined three types of economic expression that a supporter would be able to show support for Breadchain through providing capital and due to the nature of the project, we would like to allow support to take the form of either fiat or crypto-currency to take advantage of both forms. Donations made through fiat will be handled through traditional financial tools held by the Breadchain Cooperative and those made through cryptocurrencies will be handled through a multi-signature wallet held by each Breadchain Network project. In the image above you can find a table that summarizes the various methods of funding we would like to make available to supporters.
There are currently two projects confirmed to be a part of the Breadchain Network. The first is the Basis Project, an open source post-capitalist productive network that seeks to enable an economy where everyone has a say in their workplace, property is managed by the people who use it, and production focuses on ecologically meeting needs instead of generating profit through in-kind cost tracking. The exact technological stack of Basis is still yet to be determined, although it is likely to use some DLT whether blockchain or not. Through discussion with technological and economic experts, along with input from others in the community, the best technological stack for the goals of Basis can be determined.
The second is the Breadchain Crowdstaking Protocol, an alternative crowdfunding mechanism taking advantage of liquidity mining protocols built on the ethereum blockchain. This smart contract protocol allows for crowdstakers to provide funds to Breadchain by staking the DAI stablecoin into the DAI liquidity pool on Compound, one of the largest decentralized finance lending protocols. Any yield earned on the DAI stablecoin that is staked by crowdstakers is claimable by the admins of the project being funded, in this case, Breadchain. However, unlike standard crowdfunding, crowdstakers can withdraw their stake and receive their deposited DAI back whenever they wish to stop generating yield for the project. Crowdstakers are always guaranteed their stake through collateral in the form of the BREAD token backed 1:1 against the DAI staked. The BREAD token will act as the local currency g within the Breadchain ecosystem where holders can expect to spend it or hold it for different types of benefits. What's important to note is that the value of the BREAD token will always be equal to the value of DAI which is meant to be stable with the value of 1 USD, so there is little to no speculative nature to the token. It is instead a symbol of solidarity and support for Breadchain. The Breadchain Crowdstaking Protocol will be an experiment in alternative crowdfunding and a form of economic expression that is not easily possible with traditional financial tools.
Other applications for DLTs and blockchain we would like to explore through Breadchain include providing support for strike funds, discouraging strikebreaking, encouraging the creation of platform cooperatives, assisting radical political organizations with handling cryptocurrency, and much more. This is still just the beginning of the Breadchain journey. Much is yet to be defined and the project is currently run purely by volunteers. We hope that this quick first introduction has sparked your interest in Breadchain and you consider providing help in whatever way you can.
If you want to provide financial help, we've already gotten our Open Collective page up and runnning to accept donations and patronage! If you wish to give through cryptocurrency on the ethereum blockchain, the Breadchain multi-signature wallet address (thanks to Gnosis for the free deployment) is 0xD547bd0C023c3aDb8E0F2CC47340f5A4657be910.
Keep in mind that everyone working on Breadchain so far are also working full time jobs at the same time to make ends meet. That means things may not go as fast as we may all want without your support. By supporting Breadchain, you are supporting open source development and tools for radical organizations to fight for economic democracy and for smart developers to focus not rely on wage slavery.
Some of the things that still need to be done:
- Creation of the Breadchain public forum / social media platform
- Cooperative legal incorporation (any country suggestion?)
- Continue fixing this website (any front end devs?)
- Deployment of the Crowdstaking Protocol to the ethereum mainnet
- Define the project onboarding process into the cooperative network
- Continue formalizing governance structures
- And likely many more! (anybody want to help translate?)
If you would like to help with any of the listed activities or with anything else you think we'll need help with, email us at firstname.lastname@example.org or if you would like to be the first to know about the progress of the project, sign up for our newsletter and expect more to come soon!