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· 2 min read
Jango

The first JuiceboxDAO configuration includes a preprogrammed reserved JBX rate of 10%, with distributions to predetermined recipients.

A new supply of JBX is minted each time the project receives a contribution. This JBX goes to a beneficiary address specified by the contributor (usually themselves), with the exception of the reserved tokens. A 10% reserved rate means 10% of these newly minted tokens will be distributable to preprogrammed recipients.

As a result, the configured recipients "vest" their JBX at the rate of the project's growth instead of a cliff/lock schedule. Screenshot from https://juicebox.money/#/p/juicebox

Investors​

  • Jango gets 40% of reserved tokens for architecting the mechanism, writing the contracts, thoroughly testing the ecosystem, leading design and development efforts post-launch, and leading project relations.
  • Peripheralist gets 40% for architecting the front-end repo, publishing juicebox.money, and leading front-end dev work post-launch.
  • AtomicMieos gets 10% for experimenting with content, and helping shape ideas pre-launch and post-launch.
  • Sage gets 10% for design and illustration work pre-launch and post-launch.

These numbers are all a bit arbitrary. We decided to start off fairly small and fairly even – it was unclear how the risk profile of pre-launch dev work would compare to post-launch growth and refinement work, and how the Juicebox incentives mechanisms would play out in the wild. As the first funding cycle unfolds, expect a proposed reevaluation of these numbers to better account for risk dynamics and incentives.

· 2 min read
Jango

The first Juicebox configuration for the JuiceboxDAO lasts 30 days, and includes preprogrammed payouts. They are as follows:

Staff​

  • Jango gets $5k for managing contracts and leading dev and design efforts.
  • Peripheralist gets $5k for leading front-end dev work and evolving Juicebox to suit needs being uncovered at TileDAO.
  • AtomicMieos gets $1k for experimenting with content, and helping shape ideas.
  • Sage gets $1k for design and illustration work.

Ops​

(These funds all get paid-out to the JuiceboxDAO governance to be allocated)

  • $6.8K to pay back Jango for pre-purchasing juicebox.eth, jbx.eth, and jbox.eth. These ENS names will be transferred to JuiceboxDAOs governance.
  • $1k will be allocated for content / art supplies, managed by Futurenate and Sage.
  • Figma costs $75 monthly.
  • Infura costs $50 monthly.
  • Gitbook costs $32 monthly.
  • Fleek costs $10 monthly.

The total is $19,967.

The staff payout sums are small compared to market rates for these skills. We decided to start off with a small budget during the first funding cycle to encourage a longer runway, and to be able to re-evaluate needs as the first funding cycle plays out.

Stay tuned for a report on the first funding cycle's spending, and a proposal for the next funding cycle's payouts.

· One min read
Jango

The Juicebox contracts were deployed to Ethereum two days ago. Yesterday, @peripheralist, who built the juicebox.money website, launched a generative art project called Tiles using the Juicebox protocol as its treasury, http://tiles.art. He started a DAO around it, https://discord.gg/bgGwmjWJ85.

With Juicebox, we had built a business-model protocol. With Tiles, he built a beautiful, expressive, and flexible collection of generative art to rally a community around. Neither of us had much of an idea what would or should happen next, but I was excited to take a step back and find out.

My conclusion: From a growth perspective, we can either go out and look for more entrepreneurs and artists that could benefit from using Juicebox, or we can lean into TileDAO since it's the one project that currently uses Juicebox. Since building stuff > shilling stuff is an invariant for me, I think the best thing I can do right now as a $JBX token holder is to participate in TileDAO and help grow it. As other projects start considering building on Juicebox, our job will be to become supporting cast member of their community also.

· 2 min read
Jango

The founding contributors pre mined JBX tokens to backpay the contributions made. The valuation of each token was the same as it is now during the first funding cycle.

  • Jango got $125k for developing and testing the smart contracts.
  • Peripheralist got $125k for writing juicebox.money.
  • AtomicMieos got $10k for always being around to help shape ideas.
  • Sage got $7k for design and illustration commissions.
  • Nervetrip got $3k for helping to write an early prototype and do code reviews.
  • Austin Griffith got $3k as a thank you for his work on Scaffold ETH, which Juicebox is built using.
  • Paul Razvan Berg got $3k as a thank you for writing and testing solidity helper libraries that I used extensively. Especially for math operations on e18 numbers.
  • Teddy Wilson got $1k for submitting a very useful PR that automates test routines.
  • Apoorv Lathey got $200 for a small PR he made to the repo when the code was just getting started.

The numbers are a bit arbitrary, but hopefully enough of you think its a fair start. If not, theres no shame is speaking up. We can always make changes to our reserved token allocation in upcoming funding cycles to rebalance pre mine compensation.

· 5 min read
Jango

The first of a series of blog posts explaining the Juicebox protocol, and the game plan for the first several months.


TLDR: The Juicebox protocol's contracts have been deployed to Ethereum's mainnet, and @peripheralist has published a very slick site to interact with them.

Juicebox is a business-model-as-a-service and programmable treasury for community-owned Ethereum projects.

Go check it out at juicebox.money. You can begin using Juicebox as your project's payment terminal with one gas-efficient transaction. A project running on Juicebox.

Motivation​

Long story short: indie artists and devs, DAOs, and public goods more generally, need a groovy way to capture the value they create, make reliable cashflow money out of it, and then share it back into the world.

The Juicebox protocol does this by allowing projects to make commitments about how its cashflow will be distributed before ever receiving payments, signaling to users how their money will be spent ahead of time. It works really well as a payment terminal and programmable treasury for projects that have mostly predictable costs (like staff payouts, service subscriptions, donations, budgeted initiatives, etc.), and who want to automatically reward their community as they become successful.

How it works​

With just one gas-efficient transaction, you can start funding and growing a Juicebox project, and configuring its treasury's payouts.

Once deployed, anyone can fund your project either as a patron by making a payment directly through juicebox.money, or by using other contracts that take fees composably into the Juicebox protocol. Either way, they'll receive your project's community tokens in return. People can pay you directly via an interface like juicebox.money.Or, inherit from JuiceboxProject.sol and use _takeFee to get paid contractually. As the project owner, you can set a funding target that specifies how much it'll cost to create and operate your project for a set amount of time. You do this before anyone sends you money. If your project earns more than its funding target in a set period of time, the overflow can be redeemed by your supporters alongside you in exchange for burning tokens. This effectively pushes everyone's price to pay for your project towards zero as usage grows.

If left unclaimed, overflow serves as a runway for projects.

A project's team and its community are thus incentivized to work together to make sure overflow growth outpaces spending. Funding cycles roll over automatically, allowing people and contracts to affordably fund projects that are important to them on an ongoing basis.

You can configure a discount rate to incentivize earlier adopters, a bonding curve rate to incentive commitment from community members, and a reserved rate to receive some of your own tokens each time someone pays you and receives tokens themselves. Project owners can re-asses their funding needs and cycle configuration over time, and can choose to take their token holders' perspectives into account while publishing these sorts of changes to Juicebox.


There are several ways to configure your Juicebox projects. Here are few cool things you can do:

  1. You can route your income stream through the Juicebox contracts. For example, you can make a version of Uniswap that explicitly only needs $X per month to be sustainably run (labor, ops), where each swap transaction incurs a fee ($Y) that goes towards sustaining the service. If there are enough swaps that month (N) such that N * $Y > $X, then for each subsequent swap, all accounts that have swapped (and therefor paid fees) receive a dividend from the overflowed revenue that is proportional to the amount they've contributed to the project's sustainability thus far. So if N * $Y grows unjustifiably faster than $X — which is the underlying market rent-seeking inefficiency that Juicebox projects try to out-compete — then instead of compounded shareholder wealth aggregation, everyone's price tends towards zero. Meaning people get a nearly-free, community-driven product with no ads, guaranteed data integrity, full business operation accountability, and an open source code base that runs reliably. All built by motivated punks that are getting paid what they ask for and are rewarded alongside the community as overflow grows.
  2. It's easy to program financial dependencies, so your Juicebox project's funding target can be contractually hooked up to those of people and projects it depends on.
  3. You can run a recurring/one-time fundraising campaign and return extra funds to your community, or to other causes.
  4. As the project owner, you can earn some of your own tokens with every payment you receives. You'll "unlock" these tokens at the rate with which your overflow grows, not according to some arbitrary multi-year vesting schedule. These reserved tokens can then be contractually distributed to staff, or to other causes.

There's nothing more exciting than working on/with/for the Ethereum ecosystem these days – new artful minds are being welcomed into cryptowallet-life everyday, and brilliant experiments are being crafted on the regular. It's a creator's dream – there's no need to manage infrastructure,  growth is driven by your community, and financial expectations can be anchored down by code. The Juicebox protocol was created as a means to further this end.

If you have questions or want to contribute, don't hesitate to hop into the Discord.