Proof of Hodl Login

Proof of Hodl login is discussed on discord. The idea is that an app can check whether a user has a certain amount of stacks or tokens and enable certain features of the app.

I was experimenting with Speed Spend.

A simple implementation would be:

  1. User transfers stx from the own/main stx address to the apps stacks address (Hodl)
  2. app checks whether the apps stacks address has a high balances and enables betting/shows SpeedSpendCoin balance
  3. User transfer from apps stacks address to the own/main stx address (Unhodl) when the app is no longer deemed useful.

In the screenshot you see that the user can send 1000 uSTX to a user by name (as usual)
A special case of these actions is to send it to yourself, but different addresses.

The tokens will always belong to the user, but the hodled tokens are only “usable” within the app, they are looked.

Some questions:

  • What should these addresses be called? “App Stacks Address” vs. “Owner Stacks Address”?
  • Should the user know about these technicalities?

//cc @patrick @livpayawal @markmhendrickson

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I’m not the best at naming things, so I can’t answer the first question. But to speak to your second question, I think users hodling STX for a particular app is going to be a central concept for proof-of-hodl login. I could imagine that one day, the authenticator could show users how much STX they are hodling on an app-specific login address, and provide a way to transfer funds to/from that address. If the user isn’t hodling enough STX to log in or to access a specific feature, the app could redirect the user back to the signin page with an error message telling them to move more STX over.

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I think Jude’s explanation above is pretty spot on. From a user perspective, there’s a lot of unnecessary steps i.e. App Stacks Address transfer. Is it possible to have a flow where the implementation just check the User Address cause I can’t imagine having to transfer to more than three app addresses If I’m using three apps? If? Tho, I would defer to @patrick and see how he envisions it.