Ethereum (as most know it) is simply one implementation of the Ethereum blockchain. The Ethereum Virtual Machine, on the other hand, is open-source blockchain-based software that allows developers to create decentralized applications. It is the global virtual computer that records the state of every smart contract the network stores and agrees on. Solidity is its programming language.
EVM was the first software to offer smart contract capabilities to developers and has grown into a thriving ecosystem with valuable developer network effects that extend beyond the Ethereum blockchain alone. In fact, some of the notable blockchains that use EVM have their own token economies and consensus mechanisms, completely separate from the ETH token and ETH mining. The innovations, infrastructure, and user growth on other EVM chains are leveraged by the Ethereum blockchain seamlessly and vice versa.
Web3 has introduced a new type of organization: Tokenized Communities.
While they have much in common with more traditional organizations, tokenized communities promote fundamentally different economic models than the mainstream organizations that preceded them.
For example, we value traditional companies based on assets and cash flows. Companies with more capital – or expected ability to absorb more capital in the future – are ideally valued more highly than others.
That isn’t the case for every organization. Jacob Horne argues in his essay on “Hyperstructures” that crypto protocols built with certain traits are valuable not because of cash flows (e.g. through extractive fees) or asset valuation. Instead, they are valuable due to the shared ownership of the protocol by those building on and using it.
👋 Update: Imagine... a new form of work. A new form of collaboration. A new form of community. At Forefront, we are building this future, together. Season 2 Contributor Applications are now open. Join us, and experience the Vibez Infinity Flow.
Forefront Season Two has finally arrived.
If we’ve learned one thing over the last year, it’s that DAOs are hard. But working through those challenges are exactly what creates a community worth fighting for.
So far, there are no comprehensive outlets that have truly covered the depth and breadth of the social token space.
That’s where Project St. Canon comes in: over the past ten weeks, our writer’s guild has put together a canonical list of resources spanning various topics, themes, and trends pertaining to digitally native token communities.
We wanted to create this canonical report, but we also wanted to run a new kind of experiment in social curation: once we aligned on weekly sections, we put up the contents of each report to a community vote, democratizing the content creation process. Forefront token holders selected their favorite resources, people, and projects that would form the official output of each canon section.
Today, we’ll take you through the foundations of our experiment, the outputs of our work, and the lessons gained from this first ever experiment in collective tastemaking. Whereas we set out to create a playbook for community content curation, this write up is more of an investigative summary of our learnings, with some implications and teasers on our next experiment!
By: Eliot Couvat
The more the lines are blurred between our digital and physical lives, the more our digital identities will become more complex. Our work is already being done almost exclusively online, having internet friends has become commonplace, and we're slowly tending toward a moment where our digital life will become just as consequential as our physical life.
Everyone will eventually have to play the Great Online Game, and the questions around digital identities will become (if not already) central in our society.
In this context, we'll have to explore different tools to better measure and reflect the quality of our exchanges online, encompassing the entirety of our online presence. In my opinion, web3 wallets will play a considerable part in this future by seizing the opportunity of doubling down on social tokens.
It’s no secret that new digital communities are forming and innovating at an unprecedented pace. In 2021, Social Tokens alone grew over 500% from January to June. Dozens of new tools for DAOs emerged - and like Legos, have been used to stimulate the creation of hundreds of new digital-native communities.
There is no article or book so far that can cover the depth and breadth of the Social Token space. However, the Forefront Writer’s Guild has curated a list of canonical resources related to digital-native token communities.
Throughout 10 weeks, we’ve asked Forefront community members to vote from this list for their favorite resources in the different categories. We came up with 17 resources that the community has elected as the best resources to represent the Social Token space.
We hope you will dive in and use this repository as a comprehensive guide covering the big picture, technical details, and practical operational guides.
As web3 has entered the mainstream consciousness, an entirely new category has emerged: web3 social.
Humans are tribal creatures. The desire to connect with each other and belong to communities is in our DNA. Web3 social fills the same human void as web2 social – connection.
So what exactly is web3 social? It’s a new open model for social that is user-centric, not platform-centric.
The West’s WeChat (an all-in-one app that can do everything) will be a “Super DApp” consisting of one/few web3 apps/platforms integrating with a growing set of permissionless protocols, standards, and cloud solutions. Some worthy contenders have already emerged.
Thanks to David Phelps, Jad Esber, Omid Malekan, and others for their thoughts and revisions.
WeChat is considered a “super-app”. It can do almost everything other apps do, replacing the need for dozens of western apps all in one. As a result, WeChat users use it for everything digital, from payments to media to dating. A report published by Tencent in 2018 says WeChat aims to embed itself in "every moment of the user's daily life, from morning till night, anytime, anywhere."
To our Forefront community, we’re excited to announce we’ve applied to become an ENS delegate. For those not familiar with ENS, they are building a truly decentralized identity solution. If you’ve seen people with names like myname.eth, you’ve seen ENS’ work. Now, they are introducing a delegate committee to help shape the future of ENS.
To show your support for Forefront’s application, you can delegate your vote to our application when claiming your $ENS allocation or directly on our delegate page.
Social tokens are a rich, diverse market. While the space is growing rapidly across domains and use-cases, we lack simple, useful metrics for tracking key elements of the market at large. In a first step at solving this problem, we are excited to introduce Forefront's early exploration of a Social Token Index.
The index consists of a basket of 7 tokens, designed to capture the trends of some of the leading social token projects.
We have created a dune analytics to track the index (work in progress):