The true value of Proof of Humanity is being onboarded to the registry rather than UBI. UBI is just one use case of the Proof of Humanity registry. Therefore, vouchers are a good value capture and token sink for the protocol. By designing economic incentives around vouchers the protocol can connect the protocol’s value to the value of being onboarded to the registry.
Value of vouches in practice:
The value of vouchers would be equal to the value of UBI a user forfeits to receive additional vouches. This value would be reflected in the protocol by the decrease in inflation over a period of time. This proposal is reinforced by the Pigovian Tax proposal which would tax idle vouchers further decreasing inflation, but for net-negative participants.
- User turns their UBI faucet off for 5 months to receive 10 vouchers
- User receives 0.5 of drip for 5 months to receive 10 vouchers
- Connect UBI to the value of being onboarded to the registry
- Decrease UBI inflation with positive feedback loops
- How to price vouchers? Fixed, difficulty forumla based on users and drips, auction, or algorithmic pricing?