Contributions from Brave Users

Warning: I am new to de-fi in practice. I have ideas of successful systems but I am not yet as long-term aware as I need to be; all feedback to why this may/not fail is 100% welcome. I hope to be a part of this community for the next half century or more. I am also open to reading outside resources if anyone has suggestions.

–>Idea: the Compound Community should accept $BAT from the BRAVE network to offset our cost

Observation: My payment from BRAVE in $BAT to Compound.Finance based on my web-use was not successful because, “This creator has not yet signed up to receive contributions from Brave users. Any tips you send will remain in your wallet until they verify.”

Question: Any reason why we do not have a connection with BRAVE and we do not collect $BAT?

Proposed Action: The $BAT we earn could fund things Ive read about in other posts:
A) Being Carbon Neutral
B) Giving back to Early Investors
C) Code bounties

Final Statements: BRAVE users generate $BAT for watching advertisements. I estimated I would have contributed one tenth of one $BAT. Its not much on my own but its a new source of revenue for our overall goal, which is community development.

Currently, all the $BAT that I allocated/tipped to Compound has been returned to my wallet. (The one tenth from Compound + other websites).

Overall, I have collected and been returned 3 $BAT from all of the websites I use. The gas prices are not currently worth reinvesting 3 $BAT but if any portion of that amount were Compounded from myself and others, that could offset our GAS charges towards other investments.

If you disagree–Id like to know why; Im learning.

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Thanks for opening this issue.

I’m using Brave browsers too. but I’m not sure it has some incentives to be verified Brave website.

  • What kinds of tools Brave can provide for verified site? if it is possible to get some insight from Brave analytics, it is good to be Brave verified site.
  • in Brave users side, why should they tip $BAT for Compound? Excepting donation, I don’t think other incentive.
  • and…I don’t know how to send received BAT tip into some Compound reserve directly.
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Verified = Credible. Having BRAVE “verify” us adds to our reputation.
Dont we ultimately have the same goals? De-Fi? Decentralization?

But more importantly, we could earn $BAT from BRAVE users that do not use COMPOUND.
Someone just passing through, perhaps reading about us before deciding to start, would earn us $BAT.
I dont necessarily see a down side to that; the community would receive monthly money from at least my traffic. (It currently returns to my account, which is “fine” but I am also okay with giving back)

In the BRAVE user side, why would the BRAVE users tip anyone?
The idea is BRAVE users “opt to pay” for things BRAVE users like. I would tip if we opted for carbon-neutrality or periods of lower gas fees. Nobody would feel their “tip” towards extracurricular events is unfair–because nobody is forced to “tip”.

People sometimes give more when they have the option to/not. Even if nobody donates…we are in the same position we are in now. You all know youll have at least me; my controbution compounded at .01% + cost adjustment for the price of the coin in 50 years. :man_shrugging:
I would love to return the favor to to our community by “tipping” if this community helps me become financially independent.

Offsetting the GAS fees for the next-generation with decades of $Compounded-BAT is possible.
Websites such as BlockFi and NEXO do essentially the same thing COMPOUND does, but COMPOUND is much more expensive to use. I understand how COMPOUND is different in our community establishment–but somebody new to Crypto isnt yet looking for what we offer. Someone new to Crypto is looking for cheap and easy. (My friends prefer/use BlockFi or NEXO.)

I wouldnt know how to send/receive directly to COMPOUND either however, there seems to be a body that is “in charge” of Compound. The “Good Governance” post says “Significant changes should undergo a professional third-party audit; this can be paid for by the Compound Governance system by removing reserves. Together, we’ll develop standards for introducing complex changes—but until you’re completely satisfied that a proposal introduces little technical risk, fight against it.” Who would pay that?

Hey, Chris, look you really have your mind preoccupied with your idea, which is good thing, but it’s really look like very long explanation to answer you, judging from your question.

Compound website and Compound protocol is very different things to begin with. Website is just a user interface really, it’s not really necessary for it to even exist for people to be able to interact with Compound, you also can use a lot of other interfaces, build and provided by other people or teams to interact with Compound.

Brave rewards is there to reward creators and owners of websites. So technically you can reward owner of compound website and they might use it to like pay for hosting or whatever, but it’s up to them really. Accepting donations might complicate tax management, and might very well be not worth it. Like it could create more work than provide benefit and thus not being efficient.

In any case though, you can reward owner of website, but you can’t reward Compound protocol. It’s different things. website owner is entity, either person, or a company. Protocol is a code on Ethereum. It’s not a entity.

I’m not sure what you mean by “offseting a cost”, as Compound doesn’t charge you anything to interact with it. If you speak about Ethereum network fees, that are not payed to Compound, that is payed to ethereum miners, to actually process your transaction. To make it simple to understand, like for example, you want to deposit some money, like let’s say 1 eth to Compound. That’s how it works basically: You need to send a message to Compound contract that you (your address) want to deposit 1 eth. So you go to a website and press some buttons, and basically website just generate that message for you and present it to your wallet, so you can put your signature on it. Than after you sign it, than wallet send that message to miners so they can process it. That’s when your fee is charged, when miner let Compound contract to process your message, get results and include that in block on blockchain. This fees have nothing to do with Compound itself and have nothing to do with Compound webside either. Both of them don’t charge you anything.

I’d suggest you use bat to reward creators who might actually need and greatly benefit even from small contributions they could get from brave users. Like independent news sites, other content-producing sites out there etc…

Compound is a finacial protocol. It have reserves, growing every day to fund whatever governance find appropriate, as well as really big stash of governance tokens, which do have the value themselfes and can be also used to fund anything. It probably could fund pretty much everything for itself just from own funds. But it also was funded by venture capital to bring it where it is now.

I hope you grasped main idea: it’s not a viable idea to collect rewards from brave. Thing is though, that Compound is decentralised protocol. It’s envisioned to be developed by community, at least i believe that was the idea of founding team. So if you believe it’s very much beneficial, than you can learn how to do it, write necessary code for it, got the approval of governance and see it implemented. I already mentioned where to start:

Website is an interface, the owner is an entity who can collect rewards from brave and use it however he pleased. You can try to convince owner of compound website to collect that, if they find it interesting. Or you can build your own website to interact with compound, and collect rewards yourself. In both cases it would be nothing to do with Compound protocol itself. In second case, it would benefit you and indirectly protocol, as the more UI (user interfaces) are there to interact with Compound protocol, the better it is for decentralisation.

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Thanks for the explanation, sincerely

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