Exploring the Primitive

Official Jan 11, 2022

Since the start of Concave, one symbol that has constantly been brought up is the spoon. The spoon represents unity, and an enduring bond that miners share with each other. In this brief article, we would like to highlight what Concave stands for, what our core values are, and how we want to serve the broader Olympus ecohmsystem.

What is our goal, our purpose?

The goal of Concave is to build a collective community that builds up one another and shares a common goal of driving Concave to be the best that it can be. Without its community, Concave would not exist, and every miner’s effort represents the heartbeat of Concave.

Concave is a cooperative. With cooperatives, people voluntarily band together to reach a common goal, and this ultimately amalgamates into one enterprise. Under the current DAO model, people are concerned as shareholders, which are primarily focused on price action. With a cooperative, the community is more akin to stakeholders, which are more concerned about the overall health and longevity of the protocol. Olympus pioneered this idea of cooperation with the (3,3) model, which showed that if the community worked together, everybody would succeed. We wanted to take this further by creating this cooperation at the ecosystem level (Macro 3,3).

The Shareholder vs. the Stakeholder

An integral part of the game theoretics of (3,3) is that through this action, you are enacting the strategy of being the stakeholder, not a shareholder. With the stakeholder, you are not concerned with the price action of the underlying asset. You are concerned with the long-term performance of the protocol, such as its ability to attract new users, ship new products, or operate efficiently at an organizational level. With Concave, we want a community of stakeholders, who have a vested interest in the long term health of the protocol.

The shareholder is only focused on profits; the stakeholder is focused on the overall performance and social good will of the project. With Concave, we want to create a community of stakeholders at the ecosystem level, where everyone has a vested interest in making Concave a successful ecosystem.

The Mining Collective

Since the inception of Concave, one term that has become the cornerstone of the community is coopetition. With coopetition, both sides can win. With the community, we wanted to create a system where people would collaborate with each other and self organize to complete tasks that would be difficult to complete themselves. This represents the (3,3) model on a micro level, where community members work together to ensure a united goal is reached.

With the gamified role and quest system that was implemented at the start, miners were able to conduct proof of work to be engaged as stakeholders who have a vested interest in the protocol, and the quest system allowed for community members to cooperate in creative ways. This structure showcases our goal to distribute the token supply to dedicated community members who want to be engaged stakeholders, not shareholders.

The Macro (3,3)

We have talked about (3,3) in terms of community, but how do we implement (3,3) at the ecosystem level? With the rise of Olympus, we have seen many forks that are either hostile or unaligned with the Olympus ecosystem. With the spoon symbol, Concave serves to unite all the OHM forks and realign them with Olympus, unifying the broader OHM ecosystem.

Concave seeks to do this by having a basket of assets that are aligned with the OHM ecosystem. The excess yield that we generate can be returned as increased Total Bonded Value towards the OHM ecosystem. If the projects that we accrue are already backed by OHM, we can create a flywheel system where Concave acts as a meta protocol that synergizes with OHM and the broader OHM ecosystem. By doing this, we establish a macro (3,3) system where all OHM aligned projects benefit.

With the conclusion of the Concave Genesis event, we will dive deeper into each of the topics listed during the event. We see ourselves as trailblazers, cultivators, and inhabitants of the Olympus universe.

Expect Us

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