I have come up with what I call a "Dual Minting Strategy" to potentially enable BT (Branded Token) issuers to create as close to a true merit based economy as possible in the OST (Open Simple Token) ecosystem. This appeared originally in the Branded Token Economies - Telegram group:
So one of my past objections to the OSTKIT and OST API platforms was the inability for a token issuer to manage his token economy through monetary controls.
OST has stated that economies can be entered just by staking OST and minting a BT for any OST based economy. In this there is the the threat of individuals buying a position in your BT economy rather than earning or merit through reward actions that are designed for your BT economy. No true merit based BT economy can be created for a single branded token if anyone can pay to play.
However, recently it was brought up that the Branded Token Exchange, that OST will include as one of the features in the OST platform, will be enabled to trade in virtually all tokens and cryptocurrencies and fiat. If this is indeed true then there is a possible work around to be able to create BT economies that are as close to truly merit based as possible. People will be able to game the system to there own benefit.
In my previously proposed MUSE economy, one short coming is that users of the app can circumvent earning tokens in your BT economy by staking OST and simply minting their own. The redemption system would not be able to differentiate earned tokens from self-minted tokens. If, as was stated, the Branded Token Exchange can trade any token for token, then we could create ERC20, 721 or 1155 tokens that could represent another class of token that can only perform certain functions or hold specific value or asset.
Assuming, that once OST is in beta, that the OSTKIT or OST API will allow minting on the fly, we would create a BT minting script that creates multiple different classes of BT via the OSTKIT or OST API that can only be redeemed for a token outside the OST ecosystem for redemption. The token minted and staked outside of the OST ecosystem would be defined via a smart contract by value, asset, expiration date, redemption rate, burn terms, TOS and will be created and linked simultaneously to those minted within the OST ecosystem by a BT issuer.
This would create a separate class of BT and BT redemptions that are not within easy reach of of the tokens created exclusively using the generic OST exchange and minting process.
