Ergo community self-governance via p2p money creation

Community High-Level Discussions
1

Every cryptocurrency has to find its idea. After many years of internal disputes and experiments, Bitcoin
is converging to “unstoppable digital gold”. Ergo was presented back in Sep, 2019 as “digital gold with contracts”,
and in 2026, from what I can observe, the value lies mostly in “digital gold with contracts which is enabling permissionless money markets”, which,
in particular, means right to freely create money (as IOUs) in p2p interactions, for example, in “digital free banking on steroids” product Basis.

Cryptocurrency communities tried different ways to coordinate on development and marketing efforts, from Foundations to commercial companies sponsoring
core developers (as in Bitcoin), to DAOs, etc. All of them tend to become subject of procedures (suppressing the power of rough consensus p2p networks are associated with),
or oligarchic control. In early days, Monero community had a table of debt for contributions done, then switched to grants.

I would like to propose the following self-governance and monetary experiment via p2p money creation:

  • a (first) Basis tracker instance (offchain ledger) to be launch to serve community needs, but actually, to be permissionless
  • there is no any enforcement, but anyone contributing to development and marketing efforts is free to join
  • tips, bounties as well as promises and appreciation in form of credit notes are going through the system
  • there are regular crowdfunding campaings (on ErgoRaffle), commitments from Rosen / Lithos to provide tokens for core/ecosystem dev, they will go into Basis reserves to back promises (IOU notes) already created
  • again, the system is permissionless so hard to predict how it will evolve. Which is great after all.
  • based on observations, we will provide deployment recommendations to other communities

I am ready to start in few days. First, the server will be launched, then we need for first testers

2

I agree with the framing.
In my vision ergos value comes from its ability to become money, not just a store of value. Holding value is just a function of a good medium of exchange. Let bitcoin stay the slow minimal store of value. Ergo can be what bitcoin was meant to be, something used in actual exchange. That goes for the base asset ERG and for Ergo as a platform for money, like USE. And money needs more features than something that is just stored away. It should be programmable and be able to directly integrate with trustless or trustminimized applications.

But erg occupies only one side of the hardness axis. Hard money on the collateral side isnt elastic, and an economy needs money creation to breath. The reputation side requires trust. thats not a bug but is exactly what makes money creation possible. Trade ran on IOUs for thousands of years. First on a ledger in the minds, then clay tablets, later bills of exchange. Better ledgers are possible now. And I think close communities will matter more in the future.

LETS circles have issues like socialized losses and the need for management. Basis avoids both, a creditor chooses whose IOUs to accept and is responsible only for his own decisions. Happy to be an early tester.
Also very interesting to see how the governance part will work in action.

Whos key/s will the community IOUs be issued under?

3

This has me wondering how we could bring a few related ideas together around a shared vision: making it easier for people to find a place to contribute, support work they care about, and help Ergo become more useful in everyday life.

I’m curious what we can learn from communities that have tried similar approaches—mutual credit, pooled funding, DAOs, crowdfunding, or community bounties. What has shown promise, and what has struggled? Where have trust, participation, or the effort of coordinating people become obstacles?

One possibility might be a welcoming place for standing requests: things people would like to see built, explained, connected, or improved. Someone could suggest an idea, someone else could add support, and a contributor could explore taking it on. Basis seems like it could help make the promises and relationships behind that activity more visible, though I’d like to understand how you see that fitting together.

I also wonder whether DAOs might find common ground here. There may be opportunities to support work that benefits several communities while encouraging use of ERG and Rosen-bridged assets across chains. SigmaUSD, USE, or eventually some form of bonded ERG could be worth discussing too, where they serve a useful purpose.

How do you see this differing from an investment portal? Could the ability to contribute work, make commitments, and build trust give it a broader role than raising capital alone? Over time, it seems like this could become a promising way to invest in mutually beneficial projects—where backers, contributors, users, and the wider ecosystem all have something to gain. I’d be interested in how potential financial returns could fit alongside that shared benefit.

I love the idea. I’d like to understand which pieces already exist, what others have learned, and whether there’s a small experiment we could enjoy building together.

Ideally, participating would feel like approaching a calm river: easy to find a way in, comfortable to spend time around, and possible to join at your own pace. You might bring an idea, offer a skill, back a request, test something, or simply learn from others. The responsibilities behind any financial commitment would still need to be clear, while the experience of getting involved could stay simple and welcoming.

Does that connect with the direction you’re imagining? I’d love to hear from people who have tried something similar, including what didn’t work, and from anyone who sees a natural place for their community to join in.