Thread by @CryptosCalvin

After driving for nearly 8 hours this weekend, I wanted to put out a general update on @adasafeguard and what I see as the potential future for a DAO-centered user protection solution that lives on-chain.

Time for a (large) #Cardano $ADA thread:

1/ At first, I began working on ASG as a centralized Chrome extension. You can even see the beginnings of a POC on @github here: github.com/cjkoepke/ada-s…

2/ Unfortunately, I ran into two problems:

1. My limited time constraints and the cost of infrastructure (all my time is currently going to @thecryptodrip).

2. Starting a blockchain protection solution with a centralized genesis, and eventual tech debt.

3/ As @RichardMcCrackn pointed out over the weekend (and @IOHK_Charles routinely), we need a way to protect #Cardano users from dead coin schemes and general scams alike — keeping their $ADA where it belongs.

4/ This plays well with the mission statement of ASG, but it got me thinking on an even broader mission: User Protection across the #Cardano ecosystem.

5/ The general scope of @thecryptodrip has changed to utilizing #ProjectCatalyst in either Fund6 or Fund7 to generate both a roadmap and a funding target for building out a fully on-chain protection solution for #Cardano users.

6/ Instead of a centralized database of scam data, the data would instead live on the #Cardano blockchain. Furthermore, once Voltaire is implemented, ASG could be governed by the community — and voting power would go to holders of a theoretical ASG token.

7/ Each Epoch, the community would vote on a new dataset of scams, unsafe sites, and whatever else we deemed worth warning users about.

8/ There's even an opportunity here to create an insurance coverage system that can protect users against lost $ADA due to scams, by allowing users to deposit $ADA into a smart contract and receive the DAO token in return.

9/ From the pool, users could theoretically be compensated for their losses by a community vote or automatically after passing criteria.

There are financial mechanics at this point that I don't know how to answer (like how we keep the DAO token to $ADA ratio balanced).

10/ I imagine other protocols would allow these problems to be solved, likely using tools that come before, such as @liqwidfinance and/or @PolyswapDEX and others unnamed or unannounced yet.

11/ But I believe that the #Cardano community can answer these questions and iron out the issues that remain — even taking the thought in a completely different pattern.

12/ Eventually, when @singularity_net merges with #Cardano, ASG could utilize Machine Learning workers to determine potential threats to users automatically.

13/ Regardless of how the data is added to the blockchain, the real benefit would be that anyone could monetize that data however they wanted: Chrome extensions, desktop apps, and more could be created and sold and just interface with the ASG database on the mainnet.

14/ So why am I putting all this out here? Because I really want this to exist for #Cardano. And I don't care if I'm the one who builds it, or if someone has a better idea and wants to implement it.

14/ There is lots to do, lots to talk about, and lots to think about. But I know #Cardano, and we'll get it done. If you have ideas and want to talk, and/or collaborate, my DM's are open.