We believe that a community brings a lot of value, which is why it is the most important part of every cryptocurrency project. We call that community power Distributed Workforce. This article will explain how LTO Network community works and how to get rewarded for being an active holder.
As LTO Network team, we do not just publish updates. We involve the community in growing the ecosystem: network usage, marketing, developing the solutions and tools together – and being rewarded for it. How does it work?
- Make a platform account
- Input your mainnet wallet address where you hold at least 1000 LTO (sybil protection from bots, in a way). This wallet is just an online client that gives you a key pair, so make sure to save the seed phrase.
- Create infographics or memes (Marketing Crew), help LTO with exposure (Twitter and Telegram), build technical tools (Tech Lab) or get clients on board (Business band). Every talent can find a job!
- Submit your quality work right there on the platform. The community will decide what is good – not the team. Make sure to not spam, because then you will get downvoted… ooops!
- Help upvote other good tasks, get involved in the community and make sure the amount of valuable work grows. Be active!
- Get your index up and receive biweekly rewards.
- You are now an LTOnaut!
If something seems confusing, just ask – we are all there to help!
Table of contents:
- Our vision for Distributed Workforce DAO
- Distributed Workforce Goals
- How to improve your DAO income
Our vision: Distributed Workforce DAO
The power of a community is that every member is able to function autonomously and work for the benefit of that community. It’s a more scalable and a more transparent way of working together. With the benefits of the blockchain, economics amplify the effects of distributed work.
Let’s start with the vision for the Distributed Workforce. When you run a node, you don’t need to ask the bank or the employer to send you the payment. The protocol does it, trustlessly. Voting for network upgrades on-chain happens the same way: trustlessly, everyone has a vote (but each vote has a different power). You are rewarded for supporting the network on-chain.
So why is it different for off-chain activities? It shouldn’t be! Imagine you make a cool infographic, a meme, a technical tool, or anything else. Who decides whether it’s good and whether it should be rewarded?
Surely, the team can do it, but in the spirit of decentralization – LTO community is from now on that governing authority, and everyone has a voice. The goal is to reward and incentivize the community to do more and to do better: on-chain and off-chain.
Is this a bounty or an airdrop? Oh no, this is only for community members – LTOnauts. You can easily become one, and you should! And here we get to the question is how to become an LTOnaut, how to vote for off-chain activities, what qualifies as supportive work, and more.
The system is quite complex if you want to dissect how it works. DAOMaker made a very detailed guide with examples you can consult.
Goals of Distributed Workforce
- Marketing Crew – grow the community: marketing materials, global community exposure, and efforts at converting everyone into becoming LTOnauts. Basically, helping more people learn about LTO.
- Tech Lab – build technical tools: statistics, bots, and more – getting it really easy for users to choose what they like the most, and providing transparent information to everyone.
- Business Band – grow network usage: speed up business development and adopt use cases that will help us climb higher in the list of most used blockchains. We are already in the top-20, only 6months after launch, but our traction has been astonishing!
Thesis: as a community, we should demonstrate to others our serious approach. Try to get new members into the LTO Network community based on the substantial value of the project. Educate others on the value of the token model, business adoption, transactions, and more. Do not resort to moon comments and baseless fights. We are here to create value, remember!
Write articles on tech, adoption, community management, and so on. If you need some inspiration, here are some ideas:
- Write educational content and spread it around on social media
- Help us get published in bigger traditional media sources
- Connect the team to communities which we can do AMA and interviews with like we did with Trust Wallet
- Make cool GIFs, stickers, memes – be creative
The LTOnaut chat is all about taking the initiative and help LTO community expand and find new community members. Send suggestions to the chat and let’s brainstorm together!
Thesis: We have a production-ready product and seamless API experience, you can build tools, integrate anchoring in your applications and help us develop Live Contracts. Tech Chat is there to make your life easier, join!
Build your own tool
Do you want to improve the current tools, build your own, or contribute something else? Let’s work together! To minimize the amount of redundant work, there are a few helpful things you can find to start. Thus, we can improve on existing tools without re-building every time.
- Statistics API (data from the past 24hrs constantly being updated: transaction count and block time, but it does not store transactions). We are working on providing access to a full blockchain database, for now please message in the Telegram chat.
- UI framework which you can use to start building tools.
- Low-level SDK (API) to create accounts, seeds & transactions: js, PHP, and Java.
Our community is super talented and has built various cool tools to track network statistics: wallet movements, transaction generators, and so on. You can build your own tool! Official tools developed by the LTO network team are only blockchain explorer and web wallet. Other tools we have:
- Telegram Bot: gives stats and FAQ answers
- Network overview v1.0: text format
- Network overview v1.1: visuals and charts
- Bridge Troll: telegram bot showing when a bridge transfer is being made
- Staking ROI calculator: calculating staking and leasing ROI
- Staking statistics: fee distribution stats among nodes by blocks and their type
- Node operators stats: telegram utility bot for LTO node operators
- Wallet Tracker: telegram bot updating you on incoming and outcoming transactions
- Community Explorer: more in-depth explorer stats
- Distribution tool: re-distribution of leases
Thesis: introduce to ISVs (Independent Software Providers) and system integrators who want to adopt the LTO Network solutions and build on LTO blockchain. How does this bring value? Solution users actually use the network: buying LTO tokens, paying for transactions, and staking to run net-zero economically. This is the key point about how LTO token & network value grow.
You can help us get more integrators and clients to build on top of LTO Network. The products are ready to be used. First of all, go to LTO.network website – it will give you an understanding of the technology and the use cases. Then check the Strategic Business Plan – this will help you understand what our focus and competition are.
- Join the Business Chat
- Send leads and ideas you have
- Introduce LTO to companies you are close with
- Referral Fee: we reward you for successful integrations*
* This is decided on a case-by-case basis depending on the size of the integration, the nature of a pilot or production-ready engagement and so on.
Potential Clients for LTO Network: Examples
We have two products (engines). Even though we separate them into two products, it’s only from the technical perspective. In practice, they applied to the entire DTM market: Proof of Existence (public chain) and Decentralized Workflows (private & public chain).
Proof of Existence. This can be relevant for organizations that work with confidential data like documents/contracts, patents, permits, certificates or diplomas. Example: SignRequest
Decentralized workflows. This is relevant for organizations that collaborate on a single process with multiple parties, have a trust issue and need to validate the actions of each other. Logistics, Transportation, Governments, Insurance, Banking, Legal departments, and public services deal with high administrative burdens can benefit a lot from this technology. Example: Dutch Ministry Transport
System Integrators. Companies which develop web applications that want to integrate blockchain for security reasons (Data integrity). Applications for inspections, documents, KYC, digital signing e.g.. Example: Capptions
IT companies and blockchain consultants. IT companies which build or integrate solutions for big corporates. Organizations that have their own blockchain teams or smaller IT companies (50+ employees) with blockchain focus and experience. Example: AXVECO
Learn more about how business can use the blockchain:
- Independent software vendors → Software applications that can anchor data on LTO Layer 1 public permissionless blockchain to secure the integrity of digital data. Here is a detailed business pitch.
- System integrators → Companies and providers utilizing LTO Layer 2 decentralized workflow engine to automate processes and solve the issues of data silos. Here is a detailed business pitch.
How to improve your DAO income
Your user index determines your rewards: your index goes up, your rewards go up. The idea is to make a relative index among all participants, who then all share a pool of weekly rewards accordingly.
How to increase your index?
- Do more work and do better work.
- Help validate the good work of others.
- Hold more LTO and for a longer period of time.
Your influence within the platform majorly depends on how long you hold, amongst many other factors – because that is the index of an LTOnaut. Having LTO is good, but keeping them longer is even better. But big influence is not equal to big rewards. The vote of a big holder weights more because they have a bigger economic incentive, they have more to lose. Therefore, they are economically incentivized to support the best value-add tasks from others. But the rewards depend on the activity and your value add. It’s about being active!
Find more detailed info here.
In fact, if you don’t believe you are the next Leonardo da Vinci and your skills are not good enough to create infographics, you can help validate other tasks: upvote or downvote. By upvoting good quality work, you share part of the rewards allocated to the creator. This way, you create value by making good tasks visible.
Distributed Workforce DAO Platform is a combination of features aimed at creating the fairest reward system for all community members involved. You decide what is good and what is not good. And if something seems confusing, just ask – we are all there to help. Join our journey!