This is fantastic, thanks @blackforestboi
for posting. Curious where would you slot Coil in this and what models would you like to see emerge that leverage the ILP and WM Standard?
Co-Founder getmemex.com.
Interested in personal and collaborative knowledge management and how to create economic incentives for the curation and creation of quality content.
I am going to write a longer post about this question soon as part of our final report on the research on options for better integration of (micro)payments with Coil/WM/ILP (with a focus of the context of our project).
In short:
Automated micropayments could work well with Coil/WM out of the box. Probably directly via the Coil API, although that would make it wallet dependent again.
My personal favourite, and for which Coil or generally crypto-based solutions are potentially a great fit, is the staking-based access. This way you can cryptographically verify that the stake/deposit has been made and that can't be withdrawn. Though I think that Coil does not support such a use case yet.
I didn't find conclusive answers if Coil could be used for ongoing subscriptions, as it does not seem to support that (yet) either. Maybe I am mistaken and haven't found the right docs. Do you know where I could read up on both of those cases?
Other unanswered questions I have, and you may be the right person to ask or help me find another person to ask, is how multi-recipient transactions could/would work with ILP and WM?
This would be necessary for example to implement use cases like platform fees (e.g. 10% of the creator revenue), or pay multiple contributor in a collection directly, instead of creating a platform dependent proprietary fund distribution mechanism.
These questions are not immediately necessary to answer in order to fullfill our current grant requirements, but they are for a subsequent proposal on extending the WM/coil integrations and to offer a wider range of monetization methods (auto-payment, subscriptions, staking-based access)
Co-Founder getmemex.com.
Interested in personal and collaborative knowledge management and how to create economic incentives for the curation and creation of quality content.
we have now found the cause of our challenges, and they were burried in a misunderstanding on how the WebMonetization implementation currently works. It became clear now that the WebMonatization currently only supports a stream of payments for as long as the user is active on a page, or decided to start/stop the payment stream.
Given this I have to revisit some of my analysis on where things can be used:
WM can be used for automated micropayments, but only in a very limited fashion since it basically only takes the visit duration into account. (given that the meta tag is injected right from the start and not on demand). There is no ability to influence the weight distribution of the funds, unless you are a wallet provider.
One-off fixed payments are not possible unless providers like coil enable those, since also here the distribution algorithm is on the provider side.
Multi-recipient payment can work quite well by using the probabilistic rev-share approach and develop a distribution algorithm service side (e.g. by determining how many items someone contributed to a Memex collection of curated papers and websites)
Subscriptions are also not possible with WM right now because you can't make big 1-20+€ payments in on go (see 2.) and the wallets need to also support collecting more funds and notifying users about insufficient funds for additional subscriptions.
Would be great to know where WM has challenges to be implementing those features so the community can think/work along.
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This is fantastic, thanks @blackforestboi for posting. Curious where would you slot Coil in this and what models would you like to see emerge that leverage the ILP and WM Standard?
Hey Chris!
I am going to write a longer post about this question soon as part of our final report on the research on options for better integration of (micro)payments with Coil/WM/ILP (with a focus of the context of our project).
In short:
Automated micropayments could work well with Coil/WM out of the box. Probably directly via the Coil API, although that would make it wallet dependent again.
My personal favourite, and for which Coil or generally crypto-based solutions are potentially a great fit, is the staking-based access. This way you can cryptographically verify that the stake/deposit has been made and that can't be withdrawn. Though I think that Coil does not support such a use case yet.
I didn't find conclusive answers if Coil could be used for ongoing subscriptions, as it does not seem to support that (yet) either. Maybe I am mistaken and haven't found the right docs. Do you know where I could read up on both of those cases?
Other unanswered questions I have, and you may be the right person to ask or help me find another person to ask, is how multi-recipient transactions could/would work with ILP and WM?
This would be necessary for example to implement use cases like platform fees (e.g. 10% of the creator revenue), or pay multiple contributor in a collection directly, instead of creating a platform dependent proprietary fund distribution mechanism.
These questions are not immediately necessary to answer in order to fullfill our current grant requirements, but they are for a subsequent proposal on extending the WM/coil integrations and to offer a wider range of monetization methods (auto-payment, subscriptions, staking-based access)
Thanks for the help!
Hey @chrislarry ,
we have now found the cause of our challenges, and they were burried in a misunderstanding on how the WebMonetization implementation currently works. It became clear now that the WebMonatization currently only supports a stream of payments for as long as the user is active on a page, or decided to start/stop the payment stream.
Given this I have to revisit some of my analysis on where things can be used:
Would be great to know where WM has challenges to be implementing those features so the community can think/work along.