WHAT IS Native?

Native is an Ethereum-based platform that provides communities the ability to generate their own unique currencies and manage their resources effectively through a collective decision making blockchain system.

AIM OF Native

[1] to provide a platform where even the non-tech people can benefit from blockchain community.

[2] to provide a true democratic community system where token owner and community members contribute directly to projects and major decisions in the community.

[3] To enable communities create their own unique currencies.

Vision of Native

According to the founder JAKE VARTANIAN , Native will enable users work on things that they truly value and care about and these values will be duly maximised.

Benefits of Native

[1] capital will be raised through time. issuance
[2] collective decision making through polling. At least give people a chance to play a part
[3] value recognition and redemption within a global framework

Native USER TYPES

[1] CURATORS:
These are administrators of the community, a visionary of some sort and they have a vast knowledge on the intricacies of the community and ensure that re members get the best content.

[2] MEMBERS:
Members pick community of their interest and goals. They are the ultimate decision makers when it comes to projects acceptance and funding. And for a feel of democracy they can "impeach" a curator if necessary.

Native ECOSYSTEM ARCHITECTURE

The good thing about the Native ecosystem is that its good for communities when Native thrives and even when Native experiences a contraction, the communities are not affected. quite cool huh?!

Token Design

The Native token (NTV) is the base currency of all community currency on the Native platform.
Tokenization in the blockchain over the years have offered issuers, users, investors and regulators a tremendous benefit and novel ways of managing their economy effectively. However, there are certain limitations involved with tokens.

[1] the purchasing process of these tokens can be very cumbersome. Users have to get the token based cryptocurrency (BTC,LTC,ETH) and use them as payment to purchase these tokens.

[2] the pricing model has its flaws. Whether the price is set by third party or the price is fixed upon ICO, the flaws still linger.

With these in mind Native is using the Continuous Token Model (CTM) , to solve the problems. With CTM Native will be able to :

Integrate token purchase in the underlying service when the token is purchased directly.

Benefits of the CTM include:

• instant liquidity
• accurate market size indicator
• tangible currency value

Fair price

In a bid to attain a fair price model for the tokens on Native, the Bancor technology will be used will be leveraged. Bancor is a new token standard that uses autonomously and continuously converted tokens called smart tokens. A mathematical algorithm that ensures the rates are fair. On native, there is a constant recalculation of price to maintain balance between smart token and connectors.

The token split

community fund = 50%
Smart token converter = 10%
Connector balance = 40%

HOW THINGS WORK?

Depositing on Native

The funds are split in three parts:
[i] community funds
[ii]. smart token converter that aids in modifying prices and supply based on the connector weight.
[iii] The connector balance is gotten by adding the value of the user to the token supply.

Redemption

The tokens that are sent back into smart contracts are exchanged for the base currency held in reserve. It should be noted that no funds are removed from the community during redemption.

Reserve and Token Pricing

Keys to the math behind Native pricing:

connector reserve balance = CRB
outstanding supply = $
connector weight = CW
smart token total value = STV
PRICE = (CRB)/($ * CW)
WHERE CW = CRB/STV

volatility control

The purpose for the connector weight vary from 0 to 100. In a bid to give control of volatility to users the connector weight is used. The higher the weight the less volatile the price and vice versa. Other benefits of the connector weight include:

• accommodate large volatility swings
• support community expansions.
• mitigate unforeseeable challenges.

NATIVE COMMUNITY FEATURE

Native when fully functional will be transferred to ARAGON, but in the mean time the features will still undergo some "reshaping".
Aragon as a platform, disintermediates the creation and maintenance of organizational platforms and structures. Leveraging the blockchain technology, Aragon offers boundless methods of managing organization and communities effectively. So users who sign up to Native are sure to enjoy the services offered by Aragon:

[i] transfer of tokens
[ii] fund raising
[iii] voting ... Etc.

The features proper

[1] Native Dashboard:

The dashboard employed by Native uses Web3 wallet protocol. This wallet protocol serves as an identity and transaction mechanism for its users. Just like the dashbosrdon a car Native dashboard displays an overview of all user activity and this includes: project proposal, task and membership history.

[2] Native Currency

The local currency of each community is held in reserve in NTV.
The currency serves as :

[i] Medium of exchange
Just like money, the primary function of the Native currency is medium of! exchange. Taking a cue from the Berkeshere in Massachusetts, the funds spending will be localised and confined to that community. This helps encapsulates the value of the community.

[ii] Membership requirements
The Native tokens (NTV) are connected to the community currency. Becoming a member is quite simple. The intending member purchases the curator stipulated amount of community currency and voila!.

[iii] Alignment of interest
The base currency is NTV and this creates alignment of interests for all communities. Currency of one community can be transferred to other community or fund other projects.

[3] Native Funds

The funds on Native will grow in three ways:

• in flux of new members
• high level participation of members
• revenue recycling.

[4] Democracy on Native

[i] Native Projects
For a traditional organization, embarking on a new project or business idea would require the board of directors to sit down and talk about it; reeling in the figures and stats just to see if the project is viable and feasible before putting the whole decision to a vote. The key point is letting people decide their "economic fate". The process is not different on Native. The curator of a community will create a project , and initialize it. The funds are escrowed until a decision is reached. But first if the funds are insufficient to complete the project, the project is not added. In the event that the funds are sufficient, members are given an opportunity indicate interest in the project. Once a quorum is reached, the funds are transferred to the designated wallet and the project is executed.
Proceeds from these projects are redeposited into the community which helps the funds grow.

[ii] Native Polls:
These are votes that do not have any direct financial impact on the community fund. Just like the project the poll is proposed and members are given limited time to vote in order to attain a quorum. If the quorum is not reached (in time) the poll is considered invalid.

[iii] Native Tasks
The tasks on Native are created by curators of communities. Members indicate interest, pick up a task and upon completion, submit the task to be evaluated. If the submitted tasks meet the standard of the curator, the member earns the bounty and gets paid in the Native Toke (NTV).

use case

Festus is an ardent comic follower in his home town. Sadly he is the only one into comics. He is quite short of friends with whom he can argue with. His favorite company is the MARVEL company. He not only follows their comics but also their movies.
He is introduced to NATIVE. And he finds the movie community; of course he picks interest, joins and meet people who share his passion on all things Marvel Comic Universe. In no time he got used to the platform and now has completed a task of creating his own WAKANDA nation from the Marvel BLACK PANTHER movie.
He even votes on which of the Marvel movies truly depicted what the comics contained.

He is happy doing what he loves with the people who share his passion.