$Hugs – Phase 1 🎬 – Help us design a co.creation tracking economy.

  • $Hugs – Phase 1 🎬 – Help us design a co.creation tracking economy.

    Posted by Oscar Regen Tribe 🔺 on November 1, 2023 at 8:54 pm

    $Hugs co.creation tracking economy

    Phase 1 Timebank, Universal Basic Needs, Invoices, Bounties.

    1. We started by tracking & logging time for core team, collaborators, and ambassadors.

    2. Compensation is based on supporting your Univeral Basic Needs (UBN*) for 40 hrs of work weekly + Your invoiced price for the work you are offering.

    3. Compensation can also be set in $Hugs for certain goals.

    4. UBN* = $700 for accommodation monthly + $400 for food = 1100. We add 11 for good luck.

    5. $1111 x 12 = $13,332 per year / 2000 = (40 hr week x 50 weeks) = $6.66 USD per $Hugs token

    6. Your requested price is compared to fair market price and budget is agreed on by voting collective members.

    7. Bounties are set for tasks by the collective.

    Setting a bounty of 5 $Hugs to share a short discussion with us & a write up for how you can see this $Hugs economy working best.

    Sonia replied 6 months, 2 weeks ago 3 Members · 2 Replies
  • 2 Replies
  • Deleted User

    November 2, 2023 at 8:39 am

    Haha love the UBI+$11 🤣👍

    Curious how you justify what constitutes a worthwhile-to-be UBI-ed “40hrs work/week”?

    Is it limited to certain tasks that are collectively decided on?

    It makes sense to me if one is a ‘RT citizen’ but not really from the perspective of freelancer/sole-prop/business/entrepreneurship. What if someone is hyper-efficient &/or finds a better way to execute? 40 hrs for UBI seems like a way lot of time…

    Just a thought! Feel free to not answer or keep it to a private response!


    • Sonia

      November 2, 2023 at 10:16 am

      Good point
      The tasks will be are assessed for an average time (usually more than enough) so that it’s more connected to activity than time really.

      For example onboarding a project to the platform by an ambassador is estimated to take 1 hour and if you take 30 minutes because you;re efficent or 2 hours because you’re taking your time – you still get 1 hug

      And so for Oscar’s calculation of 40h per week which is a full time job we set goals that respond to expectations for a full time contributor – can be done in 20 and it’s still 40 hugs.

      These are all great discussions since we’re brainstorming now how to structure the system so it’s fair and easily trackable – this method requires pre-calculations on estimate time and value of a task.

      Sometime we might have a high priority task that we are giving away 2x Hug$ for since it’s of bigger value for the moment.

      Very open to make adjustments and additions based on everybody’s opinions and experience with time banking and alternative economy models!

Welcome to the tribe of tribes