title: UBI Token Legitimacy Standards
status: Draft Phase 1
requires (*optional): HIP-5
This HIP institutes a mechanism to filter legitimate UBI tokens which are eligible to be considered as official by Proof Of Humanity DAO (e.g. official UBI tokens can be added to a default ubi token list to start dripping on official PoH front-ends after registration is complete).
The first application integrated with Proof of Humanity was a Universal Basic Income token developed by Democracy.Earth. Although this Democracy.Earth version of a $ubi token was first, it will not be the last. This HIP serves to detail a base set of requirements that any $ubi token integrated with POH needs in order to be considered legitimate.
The most scarce resource in crypto is legitimacy.
Proof of Humanity, as a social Dapp layer with 1p1v powered by it’s sybil resistant registry integrated with Kleros has lots of legitimacy. It is the PoH DAO’s discretion of where to spend this legitimacy.
Since the time UBI DAO split from the POH DAO in HIP 22, much development has occured on various UBI projects. Besides Democracy Earth’s UBI token, there are other UBI projects in development including the following (see github repository path for each)
@green 's $ubi project (greenlucid/ubi/blob/master/contracts/UBI.sol)
Circles UBI (CirclesUBI/circles-contracts)
Democracy Earth’sUBI v2 (DemocracyEarth/ubi)
As key UBI DAO, the DAO formed around Democracy.Earth’s version of $ubi, members supported HIP-49, an attempt to insert their token into the PoH protocol by greedy forking Kleros, this HIP seeks to clarify the independence of PoH from any particular UBI project. It has also come to light that the $ubi token had a pre-mine for early investors and liquidity was gathered, and the investor exited soon there after taking this initial liquidity.
Considering this crisis of legitimacy, this HIP seeks to clarify which $ubi tokens PoH will spend its legitimacy to be associated with. It’s clear that the ideals of Universal Basic Income and Proof of Humanity are closely aligned, however this HIP seeks to clarify a minimal set of values for any UBI project to be considered legitimate.
A policy shall be drafted defining the minimal requirements for a $ubi token to be considered legitimate. For example,
No pre-mine for initial investors.
3rd Party Audited.
Tokens are allocated to humans on PoH fairly and equitably.
Founders and Developers of the token should not be directly connected to any scam.
Further inspiration for ideation can be drawn from the Ethfinex token listing policy.
Kleros curate is a generic solution for list curation. A curated list will be created with the policy document created from this HIP ideation phase for conditions under which a $ubi token can be considered minimally legitimate.