metadata: {"type": "project", "title": "Family", "logoImg": "bafkreib3yymw74ibmfi2dt5hd4tjfm6l64wpmhfvgxixhwmktbe7mopijq", "website": "https://www.familylyx.com/", "bannerImg": "bafkreifilcp4knv7vifaafkgp46xjbbgbwy4aasz22brokrfdk7e3vonby", "createdAt": 1701105571050, "userGithub": "FamilyNFT", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..LeWuUOAes7CwP25STqef_iAQ8BqaxQHz6NhVHTAAZKSKAilxSv0yb6OF-aTdHqMCn06Oyfb_DI8SIogSfXNyDA", "type": "Ed25519Signature2018", "created": "2023-11-27T17:51:11.079Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2023-11-27T17:51:11.079Z", "expirationDate": "2024-02-25T17:51:11.079Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x2bB54Cc8DCCCc9A5546cF9C810B0b1548Ee4aBE7", "hash": "v0.0.0:NDuSa5iUJQf+axYBsEwyyA7iNmDInMD/XyWpVaa2gFg=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#FamilyLYX#94820455"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..9PKsRu2yL9I4_JMzEP4I4YZgUY9UNkQAC4Vvn_FD5MbdzbFXRq5R5gJOqltO83cRFDof3-shnWb8hjASu9ChBQ", "type": "Ed25519Signature2018", "created": "2023-11-27T17:18:48.734Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2023-11-27T17:18:48.734Z", "expirationDate": "2024-02-25T17:18:48.734Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x2bB54Cc8DCCCc9A5546cF9C810B0b1548Ee4aBE7", "hash": "v0.0.0:TPdrRpmBnuYt3UIlsD6/wwo9fsxa0+7qWtaU1nkDAAI=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#FamilyLYX"}}}, "description": "'Family' is a pioneering brand at the intersection of The New Creative Economy and Blockchain Technology, championing a community-driven approach where creativity and participation are rewarded. Merging the physical and digital realms, empowers a new generation of YouTubers, Streamers, Gamers, TikTokers and emerging new pathways - redefining the future of digital interaction and ownership.\n\n**The Manifesto**\nIn a world pouring with digital innovation, 'Family' emerges as a vanguard of The New Creative Economy, a beacon for the dynamic youth of our era - the YouTubers, Streamers, Gamers, and TikTokers. Our mission is bold yet simple: to create a perfect fusion of physical and digital that resonates deeply with the creative spirits of the younger generations.\n\nAt the core of our groundbreaking vision is the LUKSO ecosystem. It's the canvas upon which our Reputation-Based Governance System (RBGS) comes to life, empowering every community member to shape the direction of the brand. This isn't a top-down corporate hierarchy; it's a vibrant, democratic community where participation and creativity are rewarded, where every voice matters and every contribution is a step towards collective growth.\n\n'Family' stands as a counter-narrative to traditional corporate paradigms. Our approach is not about exploitation for profit but about nurturing a holistic ecosystem where wealth and influence are equitably shared. It's a model designed to resonate with and empower the creative minds of today, ensuring they're stakeholders in the economy they're helping to shape.\n\nThe journey we're embarking upon is ambitious. Our initial financial strategy revolves around leveraging the intersection of the physical and digital - our 'phygital' products. These products are more than mere commodities; they're gateways for the masses, the catalysts that will bring financial stability, fuelling the expansive vision of the 'Family' brand. This will also serve as the necessary standard of the 'Family' brand, the type of craftsmanship, quality and value we the 'Family' brand stands on\n\nBy supporting 'Family', you're not just contributing to a project; you're investing in a cultural shift. You're empowering a generation of creators, enabling them to have a stake in the economy they're actively shaping. This is a movement that transcends the conventional, one that blends the authenticity of human connection with the efficiency of blockchain technology.\n\nWith your support, 'Family' will not just be a brand; it will be a legacy, a movement that champions a new era of corporate responsibility. An era where the creative economy is celebrated, where environmental stewardship is the norm, and where every member of the community is an integral part of a collective journey.\n\n**Legal Framework**\n*'The Family Genesis':* Incorporated in Australia, this entity serves as the primary business operation, focusing on fashion and related industries.\n\n*'The Family Foundation':* A non-profit organization, possibly based in a jurisdiction like Switzerland, manages the community treasury and handles grants for expanding the 'Family' ecosystem.\n\n*Additional Subsidiaries:* Depending on market expansion and operational needs, 'Family' may establish subsidiaries in other countries (e.g., a UK entity for European operations).\n\n**Tokenomics**\n'Family' adopts a tokenomics approach where the community's growth and engagement are at the forefront. Our utility tokens, central to the ecosystem, are designed primarily for rewarding participation, facilitating governance, and enhancing user experience. We ensure a modest allocation to founders and early investors, emphasizing equitable distribution. The grant's support significantly reduces our reliance on external investors, enabling us to allocate more tokens for community incentives and activities. This strategy not only empowers our community but also aligns with our core values of equitable growth and sustainable ecosystem development.\n\n*Utility Focus*: Tokens are used within the 'Family' ecosystem for accessing services, participating in governance, and incentivizing contributions.\n\n*Community-Centric Distribution*:  A significant portion of the tokens is allocated for community rewards, grants, and ecosystem development.\n\n*Limited Founder/Investor Allocation*: Founders and early investors have a capped token allocation, ensuring no disproportionate control.\n\n*Community Grants and Rewards*: Tokens are distributed to active community members who contribute to the ecosystem through various engagement activities.\n\n*Access to Services*: Tokens can be used for purchasing 'Family' products, accessing exclusive content, and utilizing platform services.\n\n*Governance Participation*: Token holders can vote on key decisions, propose initiatives, and participate in the RBGS (Reputation-Based Governance System).\n\n*Reward Mechanism*: Contributors in the ecosystem, such as content creators, active members, and developers, receive tokens as rewards for their engagement and input.\n\n**Open Source**\n'Family' will become an open-source project, where the power to utilise and expand the brand rests with the community, fostering creativity and innovation. This approach allows individuals and groups to adapt the 'Family' brand to their unique contexts, harnessing its ethos for various projects and initiatives. While we encourage diverse applications of the brand, strict standards and guidelines are in place to maintain its integrity and essence. These standards and guidelines ensure that the 'Family' community has a synergistic vision around The New Creative Economy (Gaming, Entertainment, Pop-Culture, etc)\n\nThese standards ensure that any use of the 'Family' brand aligns with our core values of unity, inclusivity, and positive societal impact. Community members are encouraged to submit proposals for using the 'Family' brand, which are then vetted through our Reputation-Based Governance System (RBGS). This process involves community voting, ensuring that brand usage decisions are democratic and reflect the collective will of the 'Family' community.\n\nThe RBGS also acts as a quality control mechanism, upholding the brand\u2019s standards. Proposals that meet our criteria receive the 'Family' badge, a symbol of approval and alignment with our values. This system ensures that while the brand is open for community-driven innovation and adaptation, its reputation and quality are never compromised.\n\nThrough this model, 'Family' becomes more than a brand; it transforms into a platform for communal creativity, a catalyst for change, and a symbol of collective empowerment. Our open-source approach is designed not just to spread the 'Family' brand but to nurture a global network of contributors who are united in their vision for a better world, all while safeguarding the brand's integrity and purpose.\n\n**Technical Layout**\n'Family\u2019s' Reputation-Based Governance System (RBGS) is a sophisticated technical framework developed within the LUKSO ecosystem, leveraging innovative standards to create a dynamic and community-focused governance model.\n\n*LSP8 - Identity Standard:* The backbone of our RBGS, the LSP8 standard, plays a pivotal role in enabling a versatile and evolving reputation system. This standard is chosen for its ability to adapt and evolve over time, perfectly aligning with the needs of a reputation-based system. It allows for the creation of unique digital identities for each community member, capturing their contributions, interactions, and overall standing within the 'Family' ecosystem.\n\n*LSP22 - SBT Utility Integration:* Complementing the LSP8 standard, LSP22 adds Soulbound Token (SBT) utility to our RBGS. SBTs are non-transferable tokens representing the intrinsic qualities, achievements, and reputation of individuals within the 'Family' network. This integration ensures that reputation and contributions are indelibly linked to a member\u2019s identity, fostering trust and authenticity in the community\u2019s decision-making processes.\n\n*Decentralised Jury System:* At the heart of the RBGS is our decentralised Jury System, designed to manage and evaluate community proposals. This system ensures that all decisions, ranging from minor changes to major strategic directions, are made with direct community involvement. Jurors, selected from the community based on their reputation and contribution, review proposals, ensuring that decisions are fair, transparent, and in line with the community's values and objectives.\n\n*Community-Centric Decision Making:* The RBGS emphasises a bottom-up approach to governance, where every member has a voice. Proposals can be put forward by any community member who meets the reputation threshold, ensuring a diverse range of ideas and perspectives are considered. The Jury System then facilitates a democratic process, where proposals are discussed, voted on, and implemented based on community consensus.\n\n**Current Roadmap**\n*Phase 1: Community Building and Brand Awareness (2024-2025)*\n- Monthly Phygital Product Drops: Regular releases to build and engage the 'Family' community, attracting both Web3 enthusiasts and the general audience.\n- Marketing and Outreach Campaigns: Utilize digital platforms to spread awareness about the 'Family' brand and its unique proposition, targeting a diverse audience.\n- Gathering Feedback and Insights: Use the community\u2019s response to refine product offerings and prepare the groundwork for the RBGS and Jury System.\n-  Investor Outreach: Identify and approach potential investors who align with 'Family\u2019s vision and values, particularly those with expertise in areas crucial for growth.\n\n*Phase 2: Development of RBGS and Jury System + rICO (2025-2026)*\n- Technical Development: Begin building the infrastructure for the RBGS and Jury System, focusing on seamless user experience and integration with blockchain technology.\n- rICO Planning: Finalise the strategy for the rICO, including tokenomics, legal compliance, and marketing approach.\n- rICO Launch: Officially launch the rICO, providing an opportunity for broader community participation and investment in the 'Family' brand.\n\n*Phase 3: Expansion and Growth (2026 and Beyond)*\n- Assessing Impact and Growth Opportunities: Analyze the impact of the RBGS and Jury System on the 'Family' ecosystem and identify areas for expansion.\n- Sustained Marketing and Brand Development: Continue building the 'Family' brand through innovative marketing strategies and product development.\n- Long-term Vision and Scaling: Develop and implement long-term strategies to scale the 'Family' ecosystem and increase its influence in the fashion and Web3 spaces.\n\n**Impact of the Grant:**\nThe grant allows 'Family' to minimise the need for outside investment, thereby avoiding investor-centric token allocation. With more tokens available for community incentives, 'Family' can better reward and motivate active participation and contributions.\n\n**Useful Info**\nContact         | support@familylyx.com  \nSource      | [FamilyLYX](https://github.com/FamilyLYX) \nInitial Demo        | [Hackathon Video](https://youtu.be/3SyE-rMjrvA?si=MFtjSoszQl4ZZNQn) \nDiscord       | [Discord](https://discord.gg/xtZU3amRzZ) \n", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "FamilyLYX", "projectTwitter": "familylyx"}
name: Family