The Hamza Community Town Hall 2 focused on refining the tokenomics framework for the decom protocol, a decentralized e-commerce ecosystem. Key topics included the token flow model, where marketplaces drive demand by purchasing decom tokens for data hosting and escrow transactions. The discussion covered protocol fees, buyer incentives for timely payments, and potential fee allocation strategies like burning tokens or funding dispute resolution. Community members engaged with questions and feedback, particularly on distinguishing protocol vs. platform fees and enhancing buyer rewards. The session emphasized an open, iterative approach to shaping the economic model.
Transcript: [Music] so for our town hall today I wanted to talk a little bit about the progress that we’re making on toonomic and and yeah get some feedback from the community but yeah we could also just open it up at the beginning here for any any questions or concerns that people have or statements that they’d like to make cool things that have happened in Hamza over the past two weeks please just yeah request to to get on stage and we’ll bring you up w it’s been eventful never a dull moment here for us okay I see your
figma so we are wrapping up the shortest month of the year feary I don’t know if B still speaking but I don’t hear him anymore but maybe no I’m not yeah yeah like yeah I don’t know if if people want to jump in or if you just want to observe on my screen we can do it either way but yeah I posted the figma in in the so if anybody wants to to follow along look at what we’ll be talking about then feel free to just jump straight in there otherwise I will share my screen okay right can people see yeah give me
give me a thumbs up in the in the chat I see your screen and I’m in the figma yep okay um so there are a few things that are going on here first of all people may have seen and actually let me me just go back quickly for so people may have seen and may have access to this like large tokenomics board this is like the work that we’ve been doing over I mean like it it represents an evolution of like the way we’ve been thinking about it over the past year and we’re currently in this Zone down here so I
shared a separate file again feel free to poke around it’s sort of a different way of thinking about how we’re going to launch the token and and what we’re going to do with it how the different pieces fit with one another but yeah the the basic concept that we’ve been playing around with is that we like this idea and Jose heard me say this a little bit earlier we Jose we like the idea of describing what Hamza and dcom do as like a Federated front end and a public goods backend and the public goods backend is
just sort of the all the backend logic that is necessary for a e-commerce platform to exist and so the idea is to to extract all that out make it run on the dcom token so it can sustain itself based solely on this protocol token and then it can serve all the mark any Marketplace that wants to come along and build sort of a more centralized front end to interact with these these this trusted infrastructure and so if you look to the right here at the the dcom protocol it’s formatted as a bit of a stack and yeah
Jose you may be seeing some of the like this is sort of what I want to to dive into today is the dispute resolution and product catalog moderation um and this is going to hearken back to some of the conversations that we had way back when but the stack is basically this right you have your data hosting and indexing um which exists on chain in some form can be a provider like Mass Market or maybe some other provider um that is just like know holding the data in a way that’s accessible to every Marketplace
then you have product catalog moderation obviously in order to create a accepted Global product catalog you have to have somewhere where the data is stored but we need to talk about the process of product catalog moderation at a global level dispute resolution and escro are both dependent on having a product catalog right so escro payments would only be accepted or initializable for something that is within the accept product catalog and disputes can only be raised you know products that are in the accepted Global catalog and so I want to
talk a little bit about the the philosophy that we’re approaching this with and some of the ideas that we’re having right now but if we zoom out a little bit you can see there’s like a lot of arrows going you know this way that way uh in general the green arrows correlate to by pressure on the token and the Red Arrows correlate to emissions or sell pressure on the token know they won’t necessarily like result in a sale but but they’re you know increasing sort of the the supply of the token you know that creates some cell
pressure in in aggregate so yeah there’s two main places where we’re thinking that that marketplaces will buy the token so marketplaces are are basically the main buyer of the token in this construction they they buy data hosting right or they pay for data hosting as sellers go through and post the token they need to pay in the dcom token to to continue to have it posted and then they pay to create escrow transactions right so you know at a at a very low level or not the the lowest level but like at a
at a pretty low level the a payment being sent to the escro contract would check an oracle for the protocol fee so let’s say that they we have a global protocol fee here that set at like 5% let’s say let’s say 1% then when a payment is sent to the escro contract it looks to the lp pairs to see what the what 1% of the value sent to the escro contract would be in terms of decom token and then each of the marketplaces have an account or like have a balance of decom token that they’ve given permission to the escrow account escrow
smart contract to spend from and so it takes from that account and deposits it into the escro contract when it is when it’s creating it so then it splits into different orders for different sellers that order has like a state when the state which is something that can be augmented by the marketplace P it becomes complete then we wait for the payment to be released and it can be released in one of two ways it can either be released by it can either be released by the buyer in which case we give them a percentage of the decom fee
or it can be released after a brace period what we call the global minimum grace period just directly to the seller in the case that the buyer doesn’t Rel the payment and so that’s the main like sort of value Loop of the protocol right like marketplaces need it in order to create escro transactions the protocol fee is extracted and either some of it is given some of it is given back to buyers if they you know go ahead and and release the payment and then we’re not quite sure what happens otherwise with
it right this is sort of a question that is worth coming back to right what what should happen to the protocol burned maybe sent to judge pool sent to buyer and seller don’t know um but what should happen here and in what percentages is is sort of a question to come back to so that’s the the basics of the the escrow transaction then we move on to like dispute resolution so this is not actually built out all that much yet and so well let me let me stop and just say does that make is that clear to everyone does that
makes sense does anybody have any questions or comments or anything like that Jose requested okay I have a question but so the protocol fee is in the token that we’re that we’re building right yes and that’s separate from the escrow fee from the platform fee yes okay so the 5% platform fee is something else it’s it’s a it’s what you’re talking about in the little white box over there with the escrow thing on it right no so this is this is like so basically like after one thing that
comes in so when when a escro payment is submitted to the escrow smart contract at a again at a high level it has these parameters and so the protocol fee is something that’s set by the protocol but the platform fee is something that is set by individual platforms right so when so I guess there’s maybe another box here but like after escrow is released it also sends back a percentage fee that is set by the marketplace so this this allows like marketplaces to compete on like their fees right how much fees they’re charging for the
service which is creating this this graphic user interface and and and marketing to people and and the the account abstraction infrastructure and this that and the other right so there’s there’s a bunch of things that the the marketplaces can do to differentiate themselves and one of those is is having a platform fee okay so this so This escrow fee is paid in in usdt or whatever currency the order is settled in right yeah exactly yeah it’s just paid into the The Vault like the the treasury like basically it’s just like
the the esro contract needs to know how much it’s taking out of the the transaction in terms of protocol fee and then it know needs to know where it’s sending it so it just needs an address to send it afterwards but yeah that but but if the seller releases I mean if the buyer releases the the escrow soon the the escrow fee gets returned to the buyer uh so I don’t think so we’re talking about two different things right like so we’re talking about the dcom fee right which is the fee that the protocol
charges and that’s yeah and that’s sort of question right you would you could argue that that’s like added like the the user doesn’t really even know about the protocol fee right the protocol fee is something that’s added and it’s a cost for the marketplace rather than any individual seller or or buyer right so marketplaces in order to do this have to have to pay in the deom token okay I see so so buyers that that have good behavior that is they release the escrow on time they get rewarded
with decom token right yeah ideally yeah okay I see but yeah like in what percentage that’s like still parameters we sort of have to decide on right how much of it is like because we could also say like okay maybe it’s the buyer gets like 50% of the protocol fee which equates to like0 five like if it’s at 1% then it’s like 05% of whatever they ended up buying in denominated in deom token and then what happens the other 50% right is it just burned is it to some sort of emissions pool do we send
it to the seller like those are all things we could do but then we don’t have a natural burn mechanism and we kind of want want somewhere where burn happen well the burn mechanism would be where where the seller uses his I mean the buyer uses his decom token keep and spends it on discounts with the seller I mean because if sellers if if buyers have a lot of decom tokens that mean they’re good buyers they they release the escra on time so it would kind of make sense for the sellers to offer them discounts yeah that one but there’s
other projects that use their main one of the main utilities is staking the token to get discounts but the only the only thought though Jose is that inter kind of overlaps with the marketplace where we don’t I don’t know my only myut feeling is do we want to interfere with the marketplace engagement I feel like as decom protocol it’s just my thought yeah I think I don’t no I agree I don’t know if that’s something that happens at the protocol level I think that that’s more something that can happen at the
marketplace level like a platform can could offer a count for I mean they could offer a discount for having decom token right if they want you know you could design a Marketplace in such a way that you’re incentivizing people to to like stake their decom token and then the I mean and then you could pay the fees out of that like stake decom token but like I don’t know I think that presents its own sort of risks and problems I think that the problem is like when when you say that like the to holding the token gives you discounts
like where does the money come from right like where does the discount to who’s paying for the discount right is is it the seller or is it the marketplace well in this case if the buyer is a good buyer quote unquote that means he releases the escrow on time then the value that the seller is getting is is having such a good buyer and and that’s what the discount would be that’s how he would be rewarded with the discount maybe maybe maybe B maybe not burning the tokens maybe just seeding the token that that bit of token to the
to the seller I don’t know if if if that makes sense hello well I’m here I think B’s muted but I hear you oh okay I think one thing m one thing to be clear Jose and for everybody here is as you can tell we’re talking more about dcom token than HS token and we’re we’re we’re focused on that as being the public investment vehicle now so it’s a little bit different users because the user of dcom is more about a Marketplace such as Hamza left rather than a buyer or a seller and I remember this like both
says this is stuff if you remember James was helping us a year go or so and we were having these discussions as well so it it’s a little bit of a different actors I don’t know if B wants to go back to the actors to define the actors for decom token because I think it’s was listening I’m sorry I had to step away for just a moment but yeah I mean like but if if you think about it like I think the sellers like how much is like having a a buyer who releases the escro on time Worth to a seller I guess so
what you’re saying but but yeah like then it’s not like a natural it’s not a burn mechanism in that case it’s like sellers wanting to give an incentive for people to release pet grow on time and so they give a discount to people who have have the dcom token but you can also just buy the dcom token right so so there’s no guarantee that someone with a dcom token had is like a good buyer in in that case like maybe you want to like offer counts to good buyers which is like a separate thing that we could
track but but if we’re not burning it as a result of like the feed then then it has no natural burn mechanism again unless we’re saying like yeah because because the protocol can’t really can’t really like offer discounts or pay I mean like I guess it could if it’s like no but again then then like who’s paying for it right because then the protocol has to like mint and buy or like mint and sell the token which is again more is is inflationary rather than deflationary so we don’t want to create
a system where like if you pay in decom token then you actually get a discount because the protocol will mint and sell token in order to to do settlement right because then that’s just like netive cell pressure on on the decom token in general I don’t know if people are following that but but yeah so I think I think the only place like this this has to be like the burn has to happen somewhere here right we can give Ecom back to people but it would be in small amounts you know rather than you know we would want to probably be burning more
than we’re emitting like I so so that’s a that’s a question I guess is like where do where would we put um yeah where would discounts go do we want the decom token to be something that gives people discount because I I sort of think no because I think that the the truth of that is that like platforms that do that are are really like supporting their growth through token inflation so they’re saying we’re just going to print a bunch of tokens in order to subsidize these this discount program that we’ve made into the the to
the the tokenomics rather than or into the token rather than having like just sort of a a sound by sell pressure yeah I mean my my thought is we we had this discussion I remember it was like a James discussion I feel but we were talking about in giving reward towards two good performing marketplaces not about buyers or sellers so the the marketplace would have incentives to give rewards to good sellers but our we as dcom is trying to have good behaving marketplaces and incentivizing good behavior in marketplaces yeah do you yeah I think
that’s get that Jose or feel like that yeah well if you if you define what a good behaving Market Marketplace would be I guess it would be the transaction volume higher higher transaction volume marketplaces should get higher amounts of token yep well but this is the thing is like I don’t so I I actually don’t have that built in here right markets in this construction are consumers of the token rather than like buyers of the token I’m sorry are are buyers of the token rather than sellers of the token
right so we’re not rewarding buyers or we’re not rewarding marketplaces for holding the token they need the token in order to get to uh make use of the protocol so one thing I want to say I was I don’t know how anybody here follows the whole blur even the open SE even magic Eden a lot of consumers don’t like it but they basically incentivize what what I would consider wash trading U because they’re just looking at volume so I think openc just talked about doing an airdrop and they’re having their new
V2 of their Marketplace and it seems like it’s I think they call it Farmers I’m not sure but following this story but basically a lot of the kind of collectors they call them or more low volume higher quality buyers and sellers are complaining that these high volume farmers are just wash trading to get high volume to get higher rewards in gaming the system so we should be careful of that in my opinion right yeah I mean it should be costly to gain the system like that right and yeah if and so that’s why like
you need I like this like sort of burn mechanism and I don’t I would I would be reluctant to admit to Marketplace based on like performance like they should be buyers of the tokens but the tokens value if there is like a lot of transaction should go up over time if there is a lot of burn if there’s a natural burn mechanism right yep I’m on I’m I’m on I do think that there should be like there are a couple of places where emissions should happen right so emissions should happen to the judge
pool right one of the core like things that uh the protocol needs needs judges and then also like we need it should admit to Pro product catalog moderation and one other thing it should admit to is liquidity right it should admit to stake liquidity so when people deposit hold and deposit decom token and create liquidity for this this trading activity to happen it should also admit to LP pools at least for a time we don’t want to go the opposite direction like and have too much burn and have no market for the token I mean theoretically it
means that people would be able would then start supplying liquidity or at least selling in into the the protocol but we don’t want the the fees that need to be paid by marketplaces to be so high that they can’t actually Finance buying more and more of the token so so we do need some emissions um and I think that the emissions most likely should be in those three places well well there you go I mean you have a token that that marketplaces buy they have a demand for and Market places in turn need judges and product catalog uh
moderation services so they have to they would have to spend their tokens on that is that correct yeah that’s exactly it and the liquidity pool would be for markets again to acquire tokens set tokens so that they can and for judges to sell their token too and and pro catalog moderation people so you have you have some sort of an ecosystem there already right and then yeah we also have like some investors and speculators who are doing things on here but we also need these again this is this is necessary because it feeds in the the
escrow right the sorry the escrow contract needs a liquidity pairer to read how much decom is is is necessary per transaction and so it needs to know a value of decom versus whatever the settlement currency is so so yeah so let’s dive into if there’s no more questions or any other comments on sort of the general structure seems like we’re good okay so let’s talk a little bit about dispute resolution and what we’ve uh decided here and and I’d like I’d love it if you guys have some input or some thoughts on
how to do this or how to implement this or what we should do but we basically start the idea is that we create this sort of like class of Judges so people people can can join and they join with like a gitcoin passport or some proof of humanity so you have like a gitcoin passport you maybe have your worldcoin ID you have your Twitter account various social media accounts and you can you log in and that that creates like Humanity score for you and then that is like sort of the weight of your vote and so if a dispute is raised it comes into
like a dispute pool right there’s like a something like this so there’s like dispute pool and so disputes come into here right and then judges can go to the dispute pool and there’s like a time period over which like this case is being decided and anybody with a judge credential can go and vote on which way they think the the dispute should be ruled and then over time their voting power now becomes a combination of their Humanity score plus their correct voting percentage so that’s the amount of times that they’ve
been with the majority yeah uh so it’s free this this is a good question the question if nobody if everybody doesn’t see it is is this pre- or Post escro Release and so obviously free escro release it’s pretty easy because there’s money sitting right there but this question like what happens if like the grace period has passed and the escrow has been released to the seller what recourse is there for the buyer then and I’m open to I don’t really have a good idea there does anybody have what what
what do we think should happen at that point yeah Jose seems to be ask the the buyer could contact us to initiate a refund request procedure ideally he should just be able to communicate with the with the seller but if the seller’s not responsive then he gets sent to us and we open a a a dispute a a a post post escro relas dispute but but where where would like money come from H well the I I believe I think the buyer should be able to to should have to provide some sort of a a guarantee maybe in the decom
token okay so now we’re talking about like sell States Yeah well yeah but in this case it’s not seller stake it’s a buyer stake if that’s if he’s the one initiating the the the dispute like for example I I ordered something I I didn’t get the product I want I’m not happy with it I’m trying to communicate with the seller but the seller’s not responsive so I open a dispute to sort of see if I can get my money back or or any sort of customer satisfaction from the seller but that’s that’s that’s when
I require all this dispute process judge pool thing and I guess no but but what I’m saying is like there there should be a peri like there’s a period pre relief right so if you if the the order has been marked complete and you’re like no this order is not complete I didn’t get it like escrow’s not been released you can open up a dispute and then it goes to the dispute pool and judges decide over it but like what happens if they you know but but and if they decide in your favor then you get the money back
because it’s sitting in E right if if you just like hadn’t if it like was moved to to complete and then was 7 Days 14 days however long it is goes by and you don’t and then the es is released and then you realiz you go and know because you just like have been checking um and you’re like hey I never got this package like if you open a dispute what are the how how can how can you get your money back like the seller’s gone like they’re they’re not communicating with you right that that’s actually a good
question and that’s and that’s one of the main problems with decentralized marketplaces in purse the answer was very easy because still you could still move the the money back into escrow had custody of the funds but in this case you don’t yeah but still however if the seller has some sort of a token stake as a guarantee then you could get your money back if the judges decide on that on that on what the what the future of those stake tokens would be based on your dispute yeah I mean but then we’re
talking about like people being able to raise disputes like yeah where where does the seller stake their token right and what do they stake it in well ideally it should be on the dcom token right but the dcom token does not NE does not necessarily reflect the the value of the merchandise because the value is fluctuating right yeah see that’s and that’s the hard thing about like saying that the stake has to take place in the decom token is the decom token is variable and so it does so there’s no like real predictable way
of saying like oh you have to have this much state or or like at least that that doesn’t correlate to a predictable value in in terms of like yeah harder currencies but you could sort of fix it to within a time frame I mean once the once the dispute is initiated and say the merchandise is $100 then at that point you would fix the amount of token to be that I mean that whatever the conversion rate at that moment is and leave it fixed can this be just like another Marketplace like requirement like is this something where
like we say an aggregate that a Marketplace has to have Okay so this maybe this is just like the determining Factor right because we don’t really want this to be a like an impediment to sellers right yeah but if we say that like okay we know that the marketplaces need to maintain a balance of of decom tokens so that you know if if an order is created they they can pay the fee we can we can say that there’s a like per sell like the the basically like the margin requirement for marketplaces is dependent on Sellers and it can come out
of that like well Bo you could you could also make it optional I mean sellers that have some sort of a a decom staking they’re more trustworthy Sellers and maybe that has a that that that that affects the prices that they charge for the merchandise I mean because I’m a worthy seller I have higher costs yeah we we have discussed that over the over time just making it a transparent showing showing is part of the experience people would see how much skin in a game or you know you have you know how much yeah it’s not like a i me
if the buyer if the buyer commits to a c seller when he orders something he has to know that what kind of reputation the seller has if he’s taking token or not and then he decides if he wants to commit to that because based on those Vari the the refund the the the what do you say the the product return or dispute Post escro Release might go differently yeah Marketplace balance requirement based of what’s call it [Music] un I like that idea I think that that’s I think that that’s like and so maybe
this is like an emission here is like sellers who maintain their own stake get some some like emissions but if they just rely on the marketplace balance then they’re considered like an uninsured seller right so it has like reputation implications but individual sellers so like Marketplace like theirs is calculated by like how many sellers uh who are maintain you know it’s like how many sellers they have minus the number of sellers that are maintaining their own stake and seller Stakes get emission right I like that yeah I mean
if you make all these things optional you give people more choices and that leads to a fair Marketplace yeah that’s a pretty elegant solution right is like just saying that the state can be recovered from the marketplace um if you know and then it’s like up to Market places whether or not they want to allow uninsured sellers right because like initially when we launch right when we launch homza we probably don’t want we want to probably be the one that like is ensuring all the sellers with our decom token um because
we want really low barriers to entry right but if instead like Hamza is a very popular Marketplace that sellers want to join then we can change the requirement right like of whether or not you’re you like as a seller you have to have a St AUM token or we maintain it for you or some some percentage right that also depends on the value of the merchandise you’re selling yeah I mean for really cheap items you don’t need that you don’t need the the market you know you don’t need the marketplace
protection but if you want to buy high value items like maybe laptops or stuff like that then it would be necessary yeah okay so that means that every Marketplace needs to have an implementation exactly it depends on how the marketplace values safety buyer safety and and those kind of things yeah okay all right okay cool I like that idea okay so that sort of solves that issue or at least solves it for now I’ll have to go back to like some other people and get some feedback on I’ll have to talk to John and husband about
how we can Implement something like that but I think that like a pretty good solution otherwise does this like so what do we think about this like judge and dispute po how much should we limit people’s ability to join the judge pool yeah this is something I’ve been thinking about for I maybe it’s maybe they can they can work their way up with smaller disputes maybe it’s about what size of dispute because if they get a large dispute that they should be more experience maybe they can work their way
up from low value disputes like well and again we think it’s like it should be just sort of like anybody in the judge pool should be able to rule on almost any any dispute and then it’s just like sort of an aggregate of the vote this is also the place where we would add like AI agents to make sure that there is at least some some vote During the period right yeah so you’re saying anybody could be a a judge I thought there would be some process becoming a judge no I I think we should make it just like really easy and open
to join um I think you should have to stake some some vcom token in order to do it but again it’s like if we just allow a whole bunch of voting but we weigh on How likely they are to be human and then ultimately like how often they’re correct then you know like you it doesn’t matter if someone spam a whole bunch of fake accounts because it won’t matter nearly as much as five verifiable humans who are write a lot voting on one way all right so the questions is do they need to stake how much is emitted and by what criteria
voting power yeah I mean I think we have a pretty good idea I mean like these are these are parameters I do think they need to stake is the answer to this question yes Andre we initially had said like okay people should be able to bet basically on like what they think the correct outcome is sort of like a prediction mark Market but then when Andre and I were talking about it he was like one we should not face the impact on on vote stake at all and two when we’re talking about like the sort of the logic of a prediction Market it doesn’t
actually make all that much sense because the highest yield you would return for like making a correct decision was when a decision was basically like 5149 and we don’t really want to like incentivize close decisions right we want we want things to approach unanimity over time and so yeah what what we do with these like intermediate decisions or these like split decisions is still sort of an open question to me like is there a threshold that needs to be cleared right should it be that like oh they they’ve cleared like 75% of the
vote that’s what’s sufficient to to trigger an execution in One Direction or the other oh yeah okay well if we don’t we we don’t have to have super clear answers right now the the last thing I want to talk about like if we’re cool to just move on yes yeah I think all gota think about these to be honest yeah yeah give it some time think think about it a little bit the final thing and and what I would argue is maybe the trickiest issue of of all these things is the global product catalog moderation and the approach that we take
this this is the thing that keep prevents us from being Silk Road right how do we and and and there are two basic approaches the first is and and the one that we will probably do in the beginning is to be very permissive right so if there’s a seller we allow them to list items almost without question and we make it very easy to flag right the an item as like falling outside of the bounds of something we’re willing to sell on a global fill the other approach is to to have a process where items are proposed they’re sort of reviewed on the
intake and then they’re accepted over time they can go backwards right they can be put back into review as a result of flagging but it makes it a lot harder to get an item into the proposed catalog and I actually like maybe it makes more sense to put these in the opposite orientation because I think what will what is likely to happen is we will move from first system to the second system over time is that initially on launch we want things to be very permissive and also at the pro one thing to remember is
that like at the protocol level we want to be generally permissive right so the product catalog moderation it needs to have some way of saying like there are some social like Norms that we are abiding by we’re saying that we won’t sell children and guns or I mean but but then like guns is a question right will we sell guns right or will we allow guns to be sold because a Marketplace might pop up in the United States that that can sell guns right inate right that can legally do it and so should we globally
take it out of the product catalog similarly sorry go ahead mine well I think there’s a couple of bigger points to think about one is I mean we talk about what kind of products but I think a big one is called Brands copyrights trademarks M barcodes the am that’s one one thing I don’t know if that’s how that would be integrated here this because I think this and the second point is I feel like it’s unverified in a verified like you get like a like a Twitter blue check or gold check like anybody can create a
product but for it to become verified has to be through a process like you’re saying like but I’m not sure like if if you’re aware but the Amazon catalog is based on barcodes so to list a product in Amazon you have to get a unique barcode because it it runs a barcode system and it yeah it says this product’s already listed and it shows it so if if that’s your barcode you need to sell on that listing and okay yeah there’s a lot to this I don’t know I don’t know how much we can get into this
but I’m I’m kind of loing a little bit but two or three points there and then there’s a third there’s a third point of course if if 10 people sell the same iPhone 16 you would have a sub skew like kind of like it’s called a I guess it’s not really like a child but you would you get a basically a alloc you get your own sub code to identify your your lot of stock in the in the listing yeah if that makes you know how we currently handle this is y yeah hello can you repeat can you repeat what you were saying for the
last minute I like stepped away it’s okay so do you so what we’re talking about right now is like so so okay there’s like two layers to this product catalog moderation problem there’s the what do we allow from a social perspective and then there is like product Collision right so like two people trying to say sell the same product and like product skews and barcodes and like sub barcodes and everything like that do you know how we handle this currently like how how uniqueness is given to like a product is
it just like the product idea we assign it well yeah I could tell you that SKU is unique SKU and barcode I think barcode is unique but SKU would be the unique identifier so if two I guess two retail two vendors have the same product they would use a different SKU yeah so we but we assign them in SKU it’s not like looking to like like what is it UPC codes we have I believe we haven’t implemented UPC on the on the on the admin side yet but I believe that’s plan actually we have that as a ticket for the this Sprint or next Sprint but
for SKU it would be we currently would have them put put the SKU themselves but it’s Unique so if another another vendors using that SKU they can’t use that one okay I believe skus are unique to each seller and variance in product so it’s more of an internal number I mean technically I yeah technically SKU by the core definition of my understanding is it’s a company’s provided identifier not a global identifier in my exactly and I could just arbitrarily call any thing on my desk a skew for if my system but it’s
not a global system technically okay but I mean it’s okay to have a skew system the global number yeah UPC but there’s also E I mean there’s all these different bar I mean at least Amazon recognizes two or three different different Global barcode systems I mean I’ve even thought about doing air air drops to them because they’re they’re public databases that you could probably scrape but anyway go ahead Carl yeah I was just saying what’s currently like how the database is designed thank you right that’s how
that’s how appreciate that yeah okay so so then so so I guess like there’s two layers to this like I said like there’s there would be you know yeah there would be the like social aspect and then there would be these like disputes over who had the right to sell a particular like UPC right um yeah so the UPC is UPC also connects to BR brand but but sometimes they don’t get so specific brand could be separate but basically UPC is one one person that owns it and can update it okay so there’s like
PC are there any more like Global uh product identifiers there are I just I could Google them but there’s a couple those are the two major ones but there are a couple others that we can consider to consider or not but there are others okay so okay let’s just call this like Global product identifi and so okay so this can so we allow initially sellers to just push any item that they want right we we I think we don’t like require uniqueness from like a seller to an item right so like if multiple sellers want
to create different listings with the same UPC or E I think that’s okay right yeah you just can’t use the same exact barcode for two products is so okay so let’s say like the like mag safe battery right like if we list like a MAG safe battery but there’s like a a Chinese knockoff version of the same product they have different UPC or E so it’s called private I mean in in the industry we call private label so I could buy a MAG save but I wouldn’t use their name I’d have to private label it
so I could buy it from them it’s called OEM and I could slap my bow super computer on it and then I could slap a sticker on it and then I could make a new barcode and put that barcode on the box but it wouldn’t be mag it shouldn’t be mag safe because that’s a brand and that’s unique Okay so so how are these like man okay this is just trying to understand this now so like how are these Global product identifiers created do you go to some like Arbiter or like some Authority who issues it for you yeah there’s gs1 is
the main one gs1.org uh that’s the main I don’t know what it stands for one us.org is the mean one and there third party resellers and they try to say don’t buy from them because they could be fake or Etc so I’m just saying like Okay so like products that like are these are assigned based on like brand ownership not based on like the kind of product that it is well there’s there’s Brands and then there’s products so they’re not it’s kind of confusing to be honest but they’re not not exclusive
like you can you have a I can just buy a barcode technically I should buy it from the same brand account but I could put any barcode I don’t know sure if Amazon really likes that or not but I could just put any barcode on a product and put it on a brand it’s just but they don’t want to have two and then I go into the gs1 and I put what kind of product it is into the global database of the product and then I put a barcode on it then when you scan it at a grocery store or in Amazon or anywhere that’s
the global identifier that goes to gs1 so the barcodes you see all around the world when you scan it’s a global identifier and it goes and I I as a seller I set that I I create an account on gs1 I registered my company I buy a batch of barcodes I put those barcodes on products I tell gs1 what it is I go to Amazon I say hey I this is my barcode it runs it through the system it says okay good nobody else is selling this you can make a listing does that okay is that helpful so yeah no no no no that’s helpful so
like so sellers themselves buy the barcodes and okay so they should be unique Yep they’re globally unique okay okay and so if someone if someone is selling like an unauthorized like if someone is unauthorized to sell like a particular barcode or UPC or or e or whatever they are then that should raise a dispute and then that is also sent to the dispute pool like a separate dispute pool but yeah yep okay let just clean this up a little bit okay all right okay all right so yeah the judges also have authority to like settle these sort of
like brand disputes and to settle whether or not it is an accepted item so like I guess this is two separate kinds of disputes it’s called this one brand one B I was thinking we it occurs to me that we could also have sellers require like for example some sellers might might have the website link on their on their store information page on hamsa right but if the seller that that would only go one way but if the seller’s website also has a back link to hamsa then that’s sort of like a proof that the seller owns the brand or the
they’re selling well the yeah we can go through brand brand brand claiming brand is completely separate and claiming product they’re both independent so one is claiming a product one is claiming a brand and in Amazon they call it brand registry and the way you verify that is you have to have a us or a globally recognized trademark uh they have a certain amount of countries and then they email the email address that’s registered with that trademark a code and if you’re able able to get that code
from that email that must mean you have access or ability to access that brand and it unlocks the brand yeah I don’t know if that’s something we can do at the protocol level though like because the protocol is pretty slim right although I guess if we’re talking about product catalog moderation then I mean I it’s a really tricky one but to be honest you know with I’ve got experien in hand and a lot of these I know the blockchains always say we can’t we can’t filter but the how do I say this Brands very much hate when
people copy their brands and they they they send legal and they go nuts I guess we could say the protocol can’t be filtered but that could be pushed to the the application layer which would be Hamza or the marketplace layer and but there well but see that’s the thing is like there’s this like Global what we’re talking about here is like the global question like what products like literally are allowed and and so I don’t know like it should settle these like sort of brand disputes these like
low-level brand disputes of whether or not some a product is index but but yeah it’s like the marketplaces themselves can apply their own filter right and and say like we’re not going to lift this product even though it’s globally available the really tricky one I I don’t have an answer is Apple how do we know it’s a real legitimate apple and we can’t let any random person claim that they sell the Apple iPhone 16 right that’s the really tricky one that’s the really tricky one yeah yeah I mean and
again I think it’s like that that’s sort of a question of like if someone okay so let’s let’s take this model right like someone signs up as a seller they post an Apple iPhone 16 right it should be pretty easy to be like to to initiate to like flag that and say hey I don’t think this is Apple I don’t think this should be listed on the protocol right and then it goes to the judge pool and the judge pool decides and okay so the judges because actually I’ve been digging this even with hza more than ever I’ve been
talking to Sellers and I talked to lawyers Alex and I had a long call with a lawyer couple lawyers they say the complaints don’t come from Amazon as much as they come from Brands complaining there’s people infringing on their IP on Amazon and demand Amazon to take them offline I think it’s happen even happen to Alibaba AliExpress even Andres has experienced on this so so how well I mean say say one of these okay say this dispute process has not happened yet right but there is a Apple iPhone 16 being offered by a seller that is on
fake Amazon right Apple could talk to fake Amazon and fake Amazon can easily say oh okay well we’re not going to we’re going to take that listing down right we’re not going to index that lifting right they they choose which data they pull from the like Global hosting Network right I understand but what if they Canever rules they want but what if we let somebody slip in on a global level saying they have the iPhone 16 they are the iPhone 16 catalog item well I guess is it connected to an owner or mple people can sell it but then the
way it works in Amazon is the person that owns it can update the listing the text the information yeah yeah yeah and that’s the thing is like this that would be a brand disp right so that would be someone at like who could flag it at a protocol level and say hey this is this person should not have ownership over this item and then it would go and we would hope that the the judge pool would decide correctly okay but but like without say without giving like any Central authority to anyone to say to make a determination themselves we just have to
trust the Justice process work okay no I agree fair game I know what you mean I’m just still processing this and honestly I’m I’m exhausted okay well it is late for you um and we a little bit over an hour and we lost all of our non-company audience so yeah obviously this is a lot to download and I’ve been thinking about it quite a bit so like I have a lot of context for this conversation but yeah this is this this town hall was meant to just like sort of give an update on where we are in terms of thinking about
the token typically like the the the buy and sell pressures of the token and I think I think it makes like without working out the details of how these individual pieces work which is something that we are working on does it I I guess I would ask does it make sense from at a at a high level this do we think this is like a sort of sustainable tokenomics model so the marketplace is the main buyer but we’ve talked about the seller also having it to to stake as well but again it’s like I think I like this solution here which is the the
seller stake is optional for the sellers but the marketplaces have to like maintain a general balance for for each seller right and sellers can provide their own state in which case they get some some rewards and you know it makes them a little bit more trusted in the system but but yeah we don’t require like marketplaces can or cannot require a seller stake what the protocol requires is that on a per seller basis if they’re operating in a Marketplace then the marketplace needs to to have to maintain a stake for them and the stake
is collateral against Bad actors and that yeah and it it’s paid to the buyer of the of the bad actor if the bad actor disappears or doesn’t doesn’t yeah yeah yeah yeah yeah I mean that would be like a we would have to sell into the liquidity pool to to refund the the buyer so it’s a it’s a bad outcome right for the token and for the protocol and then there is there is governance IND this or no yeah I mean we haven’t talk much about governance but yeah I think that that’s that’s what dictates these
like sort of global variables and I think that it should follow the same sort of model set up in the white paper like we have elected roles okay of course I know it’s kind of like the catch all of a token but that’s also demand side um but yeah I like the seller Sak I mean to judge it I’m I’m I’m I’m on board with this okay any questions or comments before we wrap up no okay well appreciate you guys for coming appreciate your input gonna build all this into you know a rised version of the token of the white paper
and of the pitch deck in the coming days so thanks everyone for showing up FR enjoy your your stay in in Thailand Carl thank you for for making a brief appearance on stage and and and being a homie and and thank you for all the work that you do Jose Mike thank you guys both for being here I’ll talk to you guys later cheers take care [Music]