Commit Club — Stake ETH on yourself. Make ETH when others fail.

Description

“ Hi PH! For years I’ve cultivated different habits to better myself: - Fitness habits - Meditation habits - Public speaking habits - Dieting habits I see so much potential in people and I think most either: 1. Are too reluctant to start a positive habit. 2. Quit too soon. Why we built Commit Club We built Commit Club to: - Solve 1. by gamifying habit building. - Solve 2. by using social pressure and loss aversion. How exactly Commit Club works Despite being a Web3 app, Commit Club is pretty simple. You commit to a daily habit or challenge either for free or by staking Ether. If you choose free, you can commit with just an email address (no crypto experience required). You can share your progress with a link so friends and family can keep you accountable. Staking Ether also helps keep you accountable. Every day you check in you get a portion of your Ether back and Ether from people who fail their challenges. When a committer breaks a habit, the remaining Ether is forfeited to everybody successful. But what about cheating? We’re building what we call, “Proof of Trusted Witness” to connect a blockchain API to oracles. For now, however, Commit Club uses the honor system which still has advantages. In addition to requiring less configuration, checking in, even if you lie, keeps your goal top of mind. You may not succeed on one day but you can try again on the next. What about gas fees? Total gas fees per challenge are ~$3-5. You only pay an Ethereum gas fee when you deposit and withdraw Ether. Maximum, two gas fees per challenge. Each fee is about $1.50. Where is Commit Club heading? In addition to “Proof of Trusted Witness,” we imagine Commit Club turning into an “Open Proof of Success” protocol. Commit Club could become the Guinness World Records of the Web3 era. We’ll do this with various oracles, challenge types (single goal based, weekly, and king of the hill challenges), and decentralization. Commit Club will ultimately become a community governed DAO. We spent a year building this and we’re excited to have finally made it to launch. Please let us know what you think - good or bad - we’re committed to this project! Thank you! ” – Edward Sturm Discussion | Link