Temp Check: Decentralized “Like Button” for ENS

Summary

Following the rise of ENS Clubs and sub-communities, the DAO has responded with grants/RFPs (ex.: development of social tools for ENS) and the community is also responding with their own ideas (ex.: proposed tools for IPNS/pinning services and generating ENS websites).

This project is in the same spirt: a decentralized “Like Button” for the ENS community built on ENS using likebutton.eth.

Background

I’ve recently listened in on many Twitter spaces hosted by the broader ENS community (ex.: digit clubs, the 24h club, building ENS websites). Separately I’ve also been taking a interest in ENS avatar use cases (particularly within the 24H Club).

These community building efforts on ENS is exactly the type of behavior that I currently reward with likes and follows on Twitter (and emoji reactions on discord)…but these centralized web2 rewards are so dissatisfying and highlight the need for equivalent tools for ENS. On the other hand ENS DAO recently airdropped $ENS rewards for past contributions to the DAO, which is of course in the spirit of web3 rewards, but more transactional in nature than giving someone a “like.”

The LikeButton.eth is a project to bridge the gap and more generally an experiment towards rethinking and rebuilding tools such as the “like button” on ENS.

Community owned likebutton.eth

Fractional ENS ownership use cases are not widely explored. Worse I think fractionalizing ENS names is often misunderstood as a tool only useful for speculating on ENS name value. However, I believe there are many potential use cases for fractional ownership of ENS names that can be leveraged for community ownership, community building, and the public good generally.

Community control/governance of ENS websites begins to get complicated, but community ownership of ENS NFTs is easy.

@neiman wrote an article about different types of ENS websites, which included “tokenized ENS websites” featuring a couple of early experiments in fractionalized ENS names with ENS websites. https://esteroids.medium.com/community-websites-tokenized-websites-and-wnfts-aa02aac6ea36

$❤️

Most here in the Forum are probably familiar with the Limited Edition ENS Constitution recently sold through a auction as the redeemable $📘 token. Regarding the $📘 symbol @Nick.eth recently tweeted:

https://twitter.com/nicksdjohnson/status/1524524408575909888?s=21&t=DWlqovpjCHrSTZv4dkmlSQ

I couldn’t agree more, I’ve been tokenizing ENS names for over a year, and all of them use emojis in the token symbols. Why? Because it’s fun, nothing beats looking in my wallet as seeing my $🦍 and $🇺🇸 tokens, and most recently a small amount of $📘.

This project proposes to fractionalize likebutton.eth into $❤️ tokens enabling ENS users to send each each other $❤️ (“likes”). A token symbol might seem immaterial, but for this proposed likebutton.eth project it’s not, it is be symbolic for this proposed use case…and fun!

I’m not overly familiar with the game theory of tokenomics but my instinct would be burning 51% of $❤️ to ENS DAO on ethereum and equally distributing 49% of $❤️ to a snapshot from when ENS hit 1M registrations.

Next steps

This post is a temp check to see if the DAO would be interested in supporting this effort to build a decentralized “like button” for the ENS community and further interesting fractional use cases with ENS names. If there is interest, the next steps would be to regroup with members of the Ecosystem WG and DAO who would like to assist with creating a formal proposal with an emphasis on the tokenomics for a fair distribution of $❤️ to the community, and development of the airdrop (if necessary developing a claim site), but I think the main thing would be support of the community through awareness and actually using $❤️.

Please reply with any comments, questions or feedback!

15 Likes

This is a cool idea! How you plan to build this? Where do you plan on storing the likes?

2 Likes

Thanks.

I’ve experimented with two platforms, and feel comfortable using fractional.art (though a custom contract is another possibility).

The way the platform works, I would wrap likebutton.eth in a fractional.art smart contract (“vault”) and mint the $❤️ ownership fractionals. There would be no “storing” $❤️. The intent would be “burning” 51% to ENS DAO locking likebutton.eth forever and airdropping the remaining 49% equally to the ENS community for use, but I am open to input for a better tokenomics distribution.

2 Likes

Gotcha, ok so maybe better question: could you go deeper on the use-case you envision? And maybe also touch on more why you believe “likes” should be scarce?

3 Likes

Part of the idea is experimenting with community owned ENS names on a large scale through fractionals. The holders of $❤️ will collectively own likebutton.eth. The potential for distributed and decentralized ownership of domain names is a novel concept and unique to ENS domains, but in my opinion under explored. This is a low stakes, and FUN way to begin exploring the concept that I think falls within the public good.

You raise a good question, I’m not entirely sure “likes” should be scare, but it’s part of the fun in experimenting on web3. I can’t think of any other platforms where “likes” are scare, so I am open minded that a system of “scare likes” might result in interesting or even a more beneficial use of likes on web3.

More important than scarcity specifically is the potential to influence ENS user behavior generally. For example, I registered a couple ENS names recently that I gifted, 1 to onboard a new user and 1 to reward another ENS users’ ENS related project. I think airdropping $❤️ to the community is a step in the direction of encouraging this type of behavior within the ENS community. If it were a thing and normalized you might have sent enspunks.eth 1❤️ for this post, something I could in turn to send to reward another ENS user for something they said, did or created across all platforms or even IRL. Potentially once the behavior of giving $❤️ in the ENS community becomes normalized, then rewarding ENS users with other tokens, or NFTs, is just a step away and $❤️ scarcity becomes moot.

3 Likes

Just so I’m understanding this right - you mean launching an ERC-20 token called $❤️? To be used for sending to each other peer-to-peer? Or is there some page/ecosystem also involved?

Correct, likebutton.eth would be wrapped in a smart contract that is collectively owned by $❤️ ERC20 tokens.

The hope would be ENS users feel a sense of ownership over this “Like Button for ENS” and after the airdrop ENS users would send each other, peer-to-peer, their free $❤️ as likes. The $❤️ could also be bridged to an L2, so giving likes nearly gas free is also an available option.

I don’t have any plans to build a separate ecosystem, instead view this as a “decentralized like button” built on top of the ENS ecosystem. Like any other token, the community could decide to “build” with it, for example an NFT project could set mint prices in $❤️, but personally I’d rather see it used as likes than become transactional.

4 Likes

Definitely an interesting and ambitious idea. I was asking because I don’t believe manually sending anything peer-to-peer on Ethereum is intuitive at all, so I would imagine the average non-experienced user might not understand what’s going on. For now, anyway. I think it could be interesting, but pretty difficult to execute. Have you heard of JokeDAO?

Exactly, part of why I’m asking for feedback and support from the DAO. Technically it’s easy, even I can do it, the key is finding fit and adoption in the community for a mechanism to get tokenized “likes” built on ENS.

I agree it’s not intuitive, users have been conditioned to respond to content with replies/likes/RTs. ENS makes it easy to copy/paste a daylon.eth on Twitter when you drop a new ENS newsletter, but how many of the ENS Twitter users utilize ENS names on Twitter to reward content/content creators? Hopefully a lot, your newsletter is great.

If a free airdrop of $❤️ Is a step toward normalizing this kind of utility and behavior just a little bit that would be a public good.

I’ve given your tweets likes/retweets various emoji replies on the Forum, would you really think it’s a joke if people sent you $❤️ directly in response to sharing your content knowing $❤️ was built on an ENS name and airdropped to ENS addresses?

Thanks for the thoughtful engagement, at least you were honest and direct.

2 Likes

Sorry, JokeDAO wasn’t an insult or something, it’s a real thing. I asked because they have a slightly similar concept in that they have token called $JOKE that they send and users can vote on jokes with it.

Oh man, that’s a funny misunderstanding! :laughing:

Yea JokeDAO is actually a real, pretty good DAO.

lfg :heart: :heart: :heart: :heart: :heart:

1 Like

This seems like a fun idea. Why not go ahead? Innovate first, ask permission later.

I don’t think the DAO needs 51% of the likes, though - unless you want the DAO to spend them. Maybe you could start by giving each WG a chunk of likes instead.

2 Likes

Done!

You have officially been transferred the first :heart:

Token Address: https://etherscan.io/token/0x0469dfb82a816c5f0a566625cec09216a721e90e

The gas on mainnet maybe a little prohibitive pre-Merge, but they can be bridged to an L2 so transfers are fractions of a penny.

As to burning 51% to the DAO, is a little bit of a hack of the fractional.art platform. It short, it ensures the LikeButton.eth remains locked and gives the DAO the voting power unlock LikeButton.eth if needed/wanted.

In the meantime I’ll send the WGs chunks, sorry but in an abundance of caution can you confirm the ENS address for each WG?

1 Like

Send me some please! :laughing: I love hyping this kind of thing and annoying anyone that follows me on Twitter.

2 Likes

Awesome. If you find any crumbs left over on the table…
I’d be honored to participate.
5pence.eth
:pray:

2 Likes

Me too! :innocent::vulcan_salute:

@daylon.eth @5pence @inplco :pray:

Sent you each 100❤️ to start, hopefully it makes you smile.

I like Nick’s idea to get large chunks to the WGs, but let me know if you want more or have other ideas for distribution to the community.

5 Likes

I think it’s a great idea, a kind of interoperable “likes” system for web3.

2 Likes

I have jokeDAO tokens, but they don’t seem to be making much progress

1 Like