# 3 posts tagged with "collective"

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## What is Blockasset?​

Blockasset is a platform on Solana for verified athlete tokens and NFTs. They specialize in social crypto assets for athletes. Athlete tokens on blockasset are a new p2p economy that rewards community engagement and early adopters. Blockasset is pushing the bounds of fan engagement in the sporting world.

Let's take a closer look at these Athlete Tokens, how they work, and how you can get your hands on one.

## What is an Athlete Token?​

An athlete token is a subset of social tokens. Owning a social token is like joining a fan club. It gives you access to exclusive content, and can be exchanged for priceless experiences. For example, these athlete tokens will give access to training sessions, VIP sporting event tickets, signed merchandise and more. While an athlete token could increase in value, they are not an investment or security. Instead, the primary use of an athlete token is to be consumed.

The value of an athlete token is related to the power of the community behind them.

$BLOCK is the token of blockasset. You'll use this token to interact with everything in the Blockasset ecosystem, including to purchase these athlete tokens. ## How does it work?​ Blockasset is using Strata Protocol to do permissionless launches of their athlete tokens so they are immediately tradable. No need for market makers or LPs. Strata seamlessly handles the supply and liquidity. While this sounds complex, from a fan perspective it's as easy as clicking "buy". tl;dr: The price of the token goes up as tokens are purchased and down as tokens are sold, following a mathematical curve This is accomplished using an Automated Market Maker (AMM) called a bonding curve. The best way to visualize this process is with poker chips. Imagine there is a cash register. When you put dollars into the register, the cashier gives you chips (tokens). When you return the tokens, the cashier gives you dollars back. When you give Strata Protocol $BLOCK, it gives you Athlete tokens. When you sell them back to the protocol, it gives you $BLOCK. The more of the athlete token in circulation, the more $BLOCK it costs to purchase a token and the more $BLOCK you receive by selling tokens. Athlete tokens are currently priced on a square root curve. This means the price is related to the square root of the total supply of athlete tokens. Here's a visualization: The launch day prices may differ, but the curve will have the same shape. ## 🔥 Sponsored Burn 🔥​ If the price of a token is related to the number of tokens in circulation, how does burning tokens raise the price? In a typical sell operation, your athlete tokens are burned in exchange for $BLOCK tokens. This means that both the supply goes down and the amount of $BLOCK in the cash register. What happens if you don't take any block from the cash register? This should make all existing athlete tokens worth more $BLOCK.

When athlete tokens are burned for experiences, all circulating athlete tokens are backed by more \$BLOCK. This leads to several innovative tokenomics models.

## Royalties and NFT Holders​

When an athlete token is purchased, a percentage of the sale is taken in royalties. This functions similar to NFTs, where a percentage of each sale is sent to the creator. The blockasset team will be routing a portion of these royalties to the athlete, and a portion of the royalties to NFT holders based on rarity. This means that NFT holders will accumulate athlete tokens which they can exchange for experiences.

## The Fair Launch Window​

When an athlete token launches, the price will be fixed for 30 minutes. After 30 minutes, the athlete token will gradually transform from fixed price to a square root curve. This results in upward price pressure with increased price sensitivity.

## How to buy the OPEN token

If you have been following closely to our small corner of the web you should be familiar with the Open Collective and the utility OPEN provides. If not, you can read more about it here

In short, Open Collective is the default collective of the Strata Protocol. And OPEN is the token for this collective. Any token made on Strata that isnt directly bonded to SOL, USDC, or any other cryptocurrency will be automatically bonded to OPEN by default.

The bonding curve for OPEN will become unfrozen at 9:00AM UTC Today. It is setup in a way to provide a fair launch to all who participate in the early moments of its price discovery. If you would like be one of those participates, please ensure you have a Solana wallet and have funded it with SOL. After that, all you need to do is wait for the curve to become unfrozen and utilize the UI below.

...

The OPEN token will launch on a bonding curve with the formula $P = c * S^k$

The parameters for the OPEN fair launch are as follows.

• First 6 hours of launch the curve price remains fixed $P = 0.005$
• 6 hours after launch there will be a 9.09091% bump $P \approx c * S^{(1/10)}$
• 12 hours after launch there will be a 7.57576% bump $P \approx c * S^{(1/5)}$
• 24 hours after launch there will be a 8.33333% bump $P \approx c * S^{(1/3)}$
• 36 hours after launch there will be a 8.33333% bump $P \approx c * S^{(1/2)}$
• Beyond 42 hours the curve will have reached its final slope

Whenever the bonding curve steepens resulting in an increase in price, there is a temporary tax imposed on selling. This removes incentive for bots to pump & dump the launch

# The Open Collective

If you're not familiar with Strata, you can read more about the protocol here

A collective is for like minded creators that want to pool resources and bond their directional success to others. Collectives also allow fans to take directional positions on the success of groups or categories rather than individuals alone. Viewed through this lens, collectives can be seen as idea indices.

The Open Collective (OPEN) is the default collective on Strata. When a token is created without a collective or base mint specified, the default is to place that token into the Open Collective.

While some collectives can be exclusive, requiring permission to join, the Open Collective allows anyone to join. The Open Collective also takes no fees or royalties.

The Open Collective is truly decentralized. We, the Strata Team, get no cut of the OPEN token. We believe that taking a cut would stifle innovation.

## Anatomy of the Open Collective​

• Token. This is the OPEN token. Every member of the collective will be bonded to it via a Bonding Curve
• Bonding curve. Users can quickly purchase OPEN tokens using the SOL/OPEN bonding curve. The price is a function of the current supply.
• Royalties. OPEN has no royalties on buy/sell through the bonding curve.
• Exclusivity. The OPEN collective allows anyone to bind their token to OPEN and join the collective. It does not require sign off for new members
• Configuration.
• Limited royalties on sell: Users cannot set sell royalties unreasonably high, devaluing the token.
• Unclaimed Token Settings
• Symbol: UNCLAIMED
• Social Token royalties on buy: 5%
• All royalties are owned by the person who claims this token

Applications like Wum.bo use the Open Collective to make it possible to create tokens in one-click for users that have yet to join the platform.

As Wum.bo expands, OPEN-based tokens will be created for a variety of social media accounts, including Twitter.

### The Community​

Ultimately, the decision to buy OPEN is an investment in the community that will form around the Open Collective. It is backing every creator and unclaimed token that is based on the Open Collective.

### No fees​

The OPEN collective takes no fees. This means that, while you are still exposed to risk in fluctuating price, it costs nothing but the Solana transaction fees to get OPEN tokens.

This also makes the open collective a good choice for a creator that wants a social token, as there is no middle-man taking a cut.

The hope is that the Open Collective pushes future collectives to innovate. If a collective is going to pool resources in the form of royalties, it should offer something in return. That might mean building a website, setting up a storefront, or just riding on the network effects of a strong collective.

### Network Effects​

Creators can use the Open Collective to join an existing, established network. As the network of open collective improves its value, the value of every individual social token in the network is improved.

### Trust​

The Open Collective limits royalties on token sales. This keeps the authority on a token from completely devaluing the token for all holders. While OPEN tokens do still carry risk, the risk is in token holders selling and not necessarily changes from the authority.

The Open Collective ensures that all unclaimed tokens follow a similar, fairly shaped bonding curve. It also ensures that royalties are set aside to incentivize the token's owner to claim the token.

### Access​

Buying OPEN will allow you to buy the social tokens of anyone within the open collective

## OPEN Risks​

OPEN is just one of many collectives that will form on Strata. It has a distinct advantage in that it is the default collective, but it is also not being managed as an organization.

### No fees​

No royalties means that the Open Collective has no treasury. The Open Collective is not an organization. It will not provide services because it does not have funds to do so.

Members of the collective may choose to provide services because they are incentive aligned with the Open Collective.

### No Team​

Neither the Wum.bo team nor the Strata team own, or are taking any share of the Open Collective. As such, the Open Collective is not backed by a team. While the community that forms around the Open Collective will drive it forward because of the incentive alignment; there is no core team.

OPEN is a truly decentralized utility token.

OPEN in no way represents ownership in Strata or Wum.bo

The teams of both Strata and Wum.bo want to see the Open Collective succeed because they want to see the entire protocol succeed. They want to drive value into this newly forming economy. Neither team, however, will ever pick sides or choose winners amongst collectives.

## Collective Movement​

While not currently supported, the goal is to allow free movement of ones token from one collective to another. This ability may hurt or help the open collective. This will lead to higher competition between collectives. This could either drive users back to the Open Collective, if other Collectives fail to deliver. Or it could drive users away from the Open Collective, as other collectives that take royalties provide greater utility.

## OPEN Fair Launch​

The OPEN token will launch on a bonding curve with the formula

$P = c * S^k$

Choices for k and c have not yet been finalized

This plot visualizes the formula when $c = 1$ and $k = 0.5$

### Reward Early Adopters, not Bots​

The curve above rewards whoever gets their transactions through first on launch day. In practice, that will be bots.

The solution to this is to have a curve that changes shape over time. All day-1 buyers get the same price. The bots had no advantage in getting their transactions through sooner, as they received the same price as everyone else.

After day 1, the curve begins to steepen:

Over time, the curve steepens to its final shape: