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Proof of Story

Overview

The Proof of Story is the mechanism in the Trash Protocol, designed to reward individuals who contribute stories about their physical items when trashing them. By sharing the story behind the items, customers earn $TRASH tokens.

Purpose

The goal of Proof of Story is to:

  1. Encourage recycling and intentional trashing of physical items.
  2. Reward individuals for sharing the story of the items they discard.
  3. Create a narrative-driven economy where trashed items gain value through the stories shared by their owners.

How It Works

  1. Trashing Physical Items:

  2. A user chooses to trash an item through the Trash Protocol.

  3. As part of this process, they spend time telling story about the item. This could include its history, sentimental value, usage, or any creative narrative associated with the item.

  4. Story Submission:

  5. The user writes a brief but meaningful story about the item. This story can range from a simple explanation of why they’re trashing the item to a more in-depth, personal anecdote.

  6. The story submission is recorded onchain, minted with the NFT that becomes the digital representation of the physical item.

  7. Verification of Effort:

  8. The Trash Protocol verifies the effort of the submitted story. This is again performed onchain. If a token is minted without a story, then no $TRASH is earned.

  9. Issuance of $TRASH Tokens:

  10. Once the story is approved, and the NFT is minted, the user receives their $TRASH tokens. The amount earned is fixed at 500 $TRASH per item.

  11. Token Distribution:

  12. $TRASH tokens are distributed to the user’s wallet upon successful submission, verification, and minting of the NFT.
  13. The tokens earned can be used within the Trash Protocol ecosystem, for governance, trading peer to peer, or other rewards. Third party vendors may also accept tokens in return for goods.

Reward Structure

The reward system currently allows for multiple $TRASH allocations. This is unique per store, and each store must receive governance approval in order to update their $TRASH allowance.

Use of $TRASH Tokens

$TRASH tokens earned from the Proof of Story mechanism can be:

  • Traded: on the open market.
  • Used: for governance, enabling users to vote on protocol changes, new features, or future story-related mechanisms.
  • Exchanged: for discounts or rewards within the Trash Protocol ecosystem.

Why Storytelling?

Storytelling provides an additional layer of meaning to the act of discarding items. It allows users to:

  • Reflect on the lifecycle of the items they own.
  • Contribute to a more circular economy by giving items a final narrative before they are discarded or repurposed.
  • Encourage mindfulness and sustainability in consumer habits.

The Proof of Story is a unique approach to incentivizing responsible trashing through the power of storytelling. By rewarding users with $TRASH tokens for their efforts, the protocol not only encourages sustainable practices but also fosters a creative and narrative-driven economy where items gain value through the stories they carry.