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Recursive mutual credit protocol
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| Mechanism | Game pos | Value signal | Accumulation | Coordination | Governance | Scale | Ethic | Accum drive | Status | Time pref |
|---|---|---|---|---|---|---|---|---|---|---|
| Algorithmic stablecoin | accept | Single rational unit pegged to fiat reference; price-mediated | enables | Price-aggregation plus algorithmic peg-maintenance | Algorithmic issuance; governance via DAO or sponsor org | Global from inception; no federation logic | smithian | Drive accepted; should be channeled productively | Encoded in monetary signal | High time-preference accommodated |
| Asset-backed digital stablecoin | accept | Single rational unit backed by reserve assets; price-mediated | enables | Price-aggregation plus reserve-backed convertibility | Centralized issuer with reserve attestation | Global from inception; no federation logic | smithian | Drive accepted; should be channeled productively | Encoded in monetary signal | High time-preference accommodated |
| Bank-issued credit money | accept | Single rational unit; price-aggregation through markets | enables | Price-aggregation through markets | Commercial banks issue against collateral; state-regulated | National scale typically; transnational through correspondent banking | smithian | Drive accepted; channeled through interest-bearing instruments | Encoded in monetary signal | High time-preference structurally rewarded via discounting |
| Commodity-backed money | accept | Single rational unit anchored to physical commodity | enables | Price-aggregation plus commodity reserve | Variable; historically state or private banks issued | National to transnational; gold-standard federation pattern | smithian | Drive accepted; commodity scarcity disciplines accumulation | Encoded in monetary signal | High time-preference accommodated |
| Cryptographically scarce digital commodity money | replace | Single rational unit; engineered absolute scarcity | enables | Price-aggregation through speculative markets | Algorithmic issuance schedule; no governance after design | Global from inception; no federation; single chain | smithian | Drive maximized; deflation rewards accumulation absolutely | Encoded intensely in monetary signal | Long time-preference rewarded but speculatively |
| Fiat sovereign currency | accept | Single rational unit; price-aggregation through markets | enables | Price-aggregation through markets | State monopoly issuance; central bank governance | National with international clearing through reserve currencies | smithian | Drive accepted; channeled through monetary policy | Encoded in monetary signal | High time-preference structurally rewarded via discounting |
| Agent-centric currency framework | modify | Multiple units per agent permitted; richness depends on app | variable | Tacit-emergent at protocol level; primary mechanism depends on app | Per-agent issuance with cryptographic validation; no global consensus | Local-first; scales through agent connectivity; federation native | pluralist | Depends on currency designed atop the framework | Depends on currency design; framework supports separation | Depends on currency design |
| Antirival accounting | replace | Multiple antirival units; value increases with shared use | undefined | Deliberative; valuation through shared-use signals | Community-issued sNFTs; rules per community | Application-scale; federation logic underdeveloped | rousseauian | Drive reframed; value grows through giving not taking | Separated from monetary signal through plural units | Long time-preference through value accretion via sharing |
| Bioregional ecological-impact-backed currency | modify | Single rational unit indexed to bioregional ecological measures | enables | Algorithmic-mechanism-design indexed to ecological measures | Bioregional institution issues; community-bioregion governance | Bioregional with potential for bioregion-to-bioregion federation | pluralist | Drive accepted but tied to regenerative-asset performance | Partially encoded; partially separated through impact metrics | Long time-preference encoded structurally |
| Bonding curve / continuous token | modify | Single rational unit; algorithmic price discovery | enables | Algorithmic-mechanism-design with bonding-curve price discovery | Community DAO issues against curve; mathematics encodes rules | Community-scale; federation rare; designed for single commons | pluralist | Drive accepted but bounded by curve mathematics | Mixed; depends on community values encoded in curve | Variable by design; can encode long horizons |
| Calculation-in-kind | replace | Multiple physical units in their native magnitudes; no common scalar | undefined | Deliberative central planning; no price mechanism | State or commune authority allocates physical units | National or commune-scale; federation logic underspecified | rousseauian | Drive treated as institutional artifact; designed out | Designed out; production is for use not signaling | Long time-preference through explicit collective planning |
| Capped-return / purpose capital | modify | Single rational unit but with capped-claim structure | variable | Price-aggregation at entry; algorithmic-cap at exit | Investment vehicle structure; governance via redemption rules | Firm-scale typically; portfolio federation through fund-of-funds | pluralist | Drive accepted but capped at defined multiple | Partially encoded for capped period; redirected to commons | Long time-preference through structural redirection to commons |
| Carbon-sequestration-backed token | modify | Single rational unit pegged to verified bio-sequestration | enables | Algorithmic-mechanism-design with verified-sequestration backing | Multi-issuer with verification protocols | Global from inception; verification networks federate | pluralist | Drive accepted but tied to global habitability index | Partially encoded; partially separated through habitability tie | Long time-preference encoded structurally |
| Commitment pooling | modify | Plural commitment types valued numerically or relationally | variable | Deliberative with registry/index/limiter/treasury functions | Per-pool stewardship with cross-pool federation | Designed for federation; pools confederate through registries | pluralist | Drive moderated through registry rules and swap limiters | Separated from monetary signal through plural commitment types | Variable; depends on commitment durations and limiter rules |
| Cybernetic non-transferable contribution credit | replace | Single contribution score with decay; non-transferable | prohibits | Algorithmic-mechanism-design via central scoring system | Algorithmic issuance based on contribution metrics | Global from inception in design; replaces other systems | rousseauian | Drive treated as artifact of transferability; designed out | Status encoded as contribution score but non-transferable | Short time-preference enforced through decay |
| Demurrage currency | modify | Single rational unit with built-in negative carry cost | penalizes | Price-aggregation with built-in carry cost driving circulation | Variable: community, regional authority, or bank | Local to regional typically; federation rare historically | smithian | Drive moderated through carry cost | Partially encoded but discouraged from accumulation | Long time-preference encouraged through carry-cost arithmetic |
| Distributed-ledger protocol grammar | modify | Plural units of account: working tokens, derivative tokens | variable | Algorithmic-mechanism-design with plural valuation indices | Token issuance per protocol; community-DAO governance | Network-scale; federation through cross-protocol composability | pluralist | Drive reframed as risk-bearing rather than asset-holding | Pluralized through multiple indices of valuation | Variable; depends on token design |
| Loan-granting closed-circuit credit | modify | Single unit pegged to national currency; circulation-bounded | enables | Bounded-trust at entry; price-aggregation within circle | Bank-issuer with collateral requirements; member governance | Regional typically; non-convertibility constrains scale | smithian | Drive accepted but non-convertibility constrains hoarding | Encoded but circumscribed by closed-circle membership | Moderate time-preference; loans amortize over years |
| Local complementary currency | modify | Single rational unit, often pegged to national currency | enables | Bounded-trust within locale; price-aggregation against fiat reference | Local issuing organization or municipal authority | Local by design; federation through complementary currency networks | smithian | Drive accepted but local-only spendability constrains hoarding | Encoded but localized to community | Moderate time-preference; local circulation rewards near-term |
| Mutual credit clearing | modify | Single unit, often pegged to national currency for clarity | prohibits | Bounded-trust mutual; peer-to-peer credit extension | Third-party ledger keeper; member-collective governance | Regional typically; federation through nested credit commons | rousseauian | Drive structurally limited; net accumulation impossible | Separated from monetary signal; recognition through trust extension | Variable; depends on credit-limit and settlement rules |
| Mutual-credit-on-blockchain | modify | Single unit per network; some designs add UBI minting | variable | Bounded-trust plus algorithmic-mechanism-design | Per-account or per-trust-edge issuance; protocol-level rules | Global potential; federation through trust-graph topology | pluralist | Drive limited by mutual credit logic; some designs add minting | Separated through trust-graph topology | Variable by design |
| Open value accounting | modify | Multiple contribution types weighted by democratic agreement | variable | Deliberative with peer review under social charter | Network-collective; democratic weighting of contributions | Network-scale; cross-network federation through value transfer | rousseauian | Drive reframed through equity-share rather than spendable currency | Separated through multiple contribution registers | Long time-preference through equity-share durability |
| Quadratic funding | modify | Single matching-fund unit; algorithm weights breadth over depth | enables | Algorithmic-mechanism-design in service of deliberative aim | Sponsor funds matching pool; protocol weights contributions | Round-scale typically; federation through cross-round composability | pluralist | Drive partially redirected; funder dominance limited algorithmically | Partially separated; breadth-of-support weights over depth | Variable; depends on funded project horizons |
| Recursive mutual credit protocol | modify | Inherits parent network's units; supports plural sub-units | variable | Bounded-trust mutual at each node; recursive at protocol level | Per-ledger governance; protocol-level rules for nesting | Designed for recursive federation; scales through nesting | pluralist | Inherits parent network's accumulation regime | Inherits parent network's status logic | Inherits parent network's time-preference encoding |
| Retroactive public goods funding | modify | Single matching-fund unit; allocation follows demonstrated impact | enables | Deliberative ex-post evaluation of demonstrated impact | Sponsor or DAO allocates; evaluation by selected reviewers | Network-scale typically; federation underdeveloped | pluralist | Drive partially redirected; reward follows demonstrated value | Partially separated; recognition through retrospective evaluation | Long time-preference through retrospective reward structure |
| Time-based reciprocity ledger | modify | Single time-unit; one hour equals one hour regardless of skill | prohibits | Bounded-trust mutual; time as common denominator | Network coordinator; member-collective governance | Local typically; federation through time-bank networks | rousseauian | Drive structurally limited; net accumulation impossible | Designed out through hour-equality regardless of skill | Variable; depends on settlement rules and community norms |
| Universal basic income / dividend | modify | Inherits the issuing currency's value-signal properties | variable | Inherits issuing currency's coordination mechanism | Issuing authority (state, DAO, or community) sets distribution | Polity-scale typically; can be national or community | pluralist | Drive accepted above floor; floor ensures non-destitution | Partially separated; everyone receives baseline regardless of status | Variable; depends on UBI duration and inflation-adjustment rules |
accept
enables
Algorithmic stablecoin
Programmatic peg-keeper; market-game preserved beneath a stability layer.
www.bis.org ↗
accept
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Asset-backed digital stablecoin
Digital wrapper over reserve assets; same game, different rails.
www.bis.org ↗
accept
enables
Bank-issued credit money
The default architecture: credit issued against collateral, interest-bearing.
www.imf.org ↗
accept
enables
Commodity-backed money
Pre-fiat reference: scarcity anchored to a physical thing.
capital.com ↗
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Cryptographically scarce digital commodity money
Engineered scarcity replaces sovereign issuance; market-game intensified.
bitcoin.org ↗
accept
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Fiat sovereign currency
State-issued, central-bank-governed; the constituting form of the modern game.
www.imf.org ↗
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variable
Agent-centric currency framework
Substrate, not currency: lets each agent define and validate its own units.
www.holochain.org ↗
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undefined
Antirival accounting
Units that gain value with shared use — sharing replaces exchange.
research.aalto.fi ↗
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Bioregional ecological-impact-backed currency
Value indexed to bioregional ecological measures; capital flows where regeneration shows.
www.biofi.earth ↗
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Bonding curve / continuous token
Curve-mediated mint/burn around a community treasury — a warm currency.
medium.com ↗
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undefined
Calculation-in-kind
No common scalar — physical units accounted natively, production for use.
en.wikipedia.org ↗
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variable
Capped-return / purpose capital
Investor returns capped at a multiple; surplus flows back to the commons.
www.yesmagazine.org ↗
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Carbon-sequestration-backed token
Unit anchored to verified carbon removal — habitability as the reserve asset.
www.publicseminar.org ↗
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variable
Commitment pooling
Commitments — not balances — as the primary unit; registries federate pools.
ijccr.net ↗
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prohibits
Cybernetic non-transferable contribution credit
Contribution credits that decay and cannot be transferred — money abolished.
integralcollective.io ↗
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penalizes
Demurrage currency
Holding costs money — Gesell's negative carry to keep currency circulating.
realitysandwich.com ↗
modify
variable
Distributed-ledger protocol grammar
Grammar for plural units of account, reframing accumulation as risk-bearing.
docs.google.com ↗
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enables
Loan-granting closed-circuit credit
WIR-style closed-circle B2B credit; non-convertibility limits hoarding.
www.wir.ch ↗
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enables
Local complementary currency
Berkshares-style local notes — money that can only spend nearby.
wiki.p2pfoundation.net ↗
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prohibits
Mutual credit clearing
Sardex-style peer credit clearing — sum of balances always zero.
www.rivisteweb.it ↗
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variable
Mutual-credit-on-blockchain
Mutual credit ported to a trust-graph chain; Circles adds UBI minting.
github.com ↗
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variable
Open value accounting
Sensorica-style ledgers of contribution across multiple value registers.
www.mdpi.com ↗
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enables
Quadratic funding
Gitcoin-style matching that weighs the breadth of small donors over big checks.
medium.com ↗
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variable
Recursive mutual credit protocol
Meta-protocol: mutual credit networks nesting recursively.
creditcommons.org ↗
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enables
Retroactive public goods funding
Pay after the impact is visible — Optimism-style retroactive funding.
app.optimism.io ↗
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prohibits
Time-based reciprocity ledger
One hour = one hour regardless of skill; net accumulation impossible.
timebanks.org ↗
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variable
Universal basic income / dividend
Distribution-layer modification: a baseline received by all, accumulation continues above.
thereader.mitpress.mit.edu ↗