Precious Plastic

Whitepaper

​

*This is 100% just a draft with some ideas :) Nothing serious

Precious Plastic is an open hardware platform for people to start and run their own plastic recycling projects. �

​

And we’re on a mission…...to tackle the plastic waste problem. (over 90% of plastic doesn’t get recovered or recycled)

​

We’ve grown a big community around the world….

• 19,000+ members on Discord
• 600+ organizations around the world currently using our technology
• 30,000 active users on our community platform

​

And now we want to tokenize our platform to scale our impact.

Why you ask?

We have two big problems…..

Problems

1. Our community has no incentive to contribute to Precious Plastic’s open source technology (machines, moulds, knowledge about how to recycle plastic, digital tools,etc). In fact, there is only a negative incentive, as contributing gives information/technology to competitors, which could hurt their business.

​

• It is difficult to fund development of the technology in an independent way (not reliant on grant funding, sponsors, donations) or in a way that doesn’t take business away from the community such as directly selling the machines or moulds.

Solution

1. Create a Precious Plastic DAO that will govern the future of the protocol through a community treasury of tokens
2. Create a token (PPC) that can incentivize contributions in the community and provide a voting mechanism for the Precious Plastic DAO

​

​

What are the benefits?

• Ability to reward contributors (align incentives of the people using the technology to also improve the technology)
• Provide a funding mechanism for the core development team (PPC token bank for Precious Plastic Foundation)
• Focus core-team activities on increasing value proposition of the technology (Precious Plastic Foundation’s token bank increases in value if the size and value of the network grows)
• Increased decentralization (Community treasury DAO)

Precious Plastic Coin (PPC) Tokenomics

PPC rewards from the DAO treasury are given to community contributors

• How-to contributions, machine inventory additions, academy updates, discord activity

Burning to decrease supply of PPC and increase price over time

• Use Bazar (Precious Plastic Marketplace) fees (5% on all transactions) to buy and burn PPC, thus reducing total supply and driving long term demand of the token

PPC Vote Staking to hand control of treasury to community

• Owners of PPC can control the distribution of the treasury through staking their PPC and generating votes based on their weight. This makes it so higher contributors (who were rewarded in point 1) have more say over the future of the protocol

🔥

🗳

Why would someone want PPC ?

1. Ability to vote on decisions regarding the Community DAO treasury fund

2. Expectation that will PPC increase in value due to slow burning of PPC supply through Bazar fee burn mechanism

How could the Community DAO work?

• Storage of treasury funds
• Multi-signature verification

• Off-chain staked voting on proposals

+

Snapshot

How would the rewards work?

DAO Treasury

Discord

How-tos

Machine Inventory

Academy Information

Powered by sourcecred

What could the Community DAO treasury be invested in?

• Rewards
• Reward contributions to the protocol (machine inventory updates, how to contributions, discord help, etc)
• Grants
• Developing new open source plastic recycling machines
• Developing new open source product moulds
• Allocating funds to develop the online platforms (Bazar, Community platform)
• Give grants to social entrepreneurs in capital restricted areas to start new workspaces
• Give grants to artists creating pieces with Precious Plastic machines

​

Precious Plastic Coin (PPC) Distribution

Create X amount of PPC coins

• X% goes to Precious Plastic DAO Treasury to fund grants and awards
• X% goes to Precious Plastic labs to steward the protocol
• X% air-dropped to existing community members & past version contributors
• X% distributed to market in an ICO
• X% goes to advisors / core team / private investors

​

​

But isn’t this technically out of reach?

Rewards → Manually do it in the short run, smart contract in the long term

• How-to contributions, machine inventory additions, academy updates, discord contributions

Burning → Manually do it in the short run, smart contract in the long term

• Use Bazar Fees to buy back and burn PPC creating a downward pressure on supply

Voting → Use Snapshot

• Owners of PPC can control the distribution of the treasury through staking their PPC and generating votes based on their weight. This makes it so higher contributors have more say over the future of the protocol

Other ideas

• Mint NFT’s for each machine blueprint created, with a transaction fee that when triggered (sale of the NFT from one person to another) goes to burning PPC
• Proof of Attendance for digital / in person Precious Plastic events
• Have sellers on the Bazar stake their PPC to be featured
• Token curated registry for how to or blueprints
• Staking/paying for being promoted by PP on SM
• ​

SWOT Analysis 👉

Strengths

• Structure is very aligned with the values of Precious Plastic (bottom up, grassroots, community power, DIY)

​

Weaknesses

• Our community may find interacting with the blockchain difficult (wallets, addresses, etc)

Opportunities

• Provides a scalable funding model for the development team
• Provides an on-going incentive structure to power the community

Risks

• Using the burning mechanism may require the token sale to be off limits to US investors in lue of being classified as a security by the securities and exchange commision
• In the beginning it would likely be a highly manual process that makes it look very not dencentalized, even if we say we intend to automate this on the blockchain later via smart contract
• Could like a money grab or following blockchain hype , and the community views it negatively

Machine�Blueprints/3D Models

Product Moulds

Business Tools

Academy Videos

�Protocol�Layer

Application�Layer

Communication�Layer

Academy Documentation

Graphics

Community Platform

Bazar

Machine Inventory

Facebook / �instagram

Youtube

Preciousplastic.com

Discord

Solution

→

Tokenize Precious Plastic on the Blockchain