Hello there! I wanted to share an update on this project.
Following the suggestions made above, we updated the proposal to fund a minimum viable initiative for this program and delegate the exact distribution strategy to a 2 out of 3 multisig with 3 key-holders who would act on behalf of the community. We will update this thread with our proposed strategies to gather feedback from the community as we iterate (we’ve also thought a lot about the distribution strategy since this thread was last active, and I will share more soon).
We believe it is better to delegate initial distribution strategy to a multi-sig because:
- It is a better user experience to distribute funds on a daily or weekly basis. It would bring significant overhead if we needed to run a community proposal for each of these distributions.
- It enables the key-holders of the multi-sig to agree on short-term iterations to the distribution strategy (e.g. increase or decrease rewards amounts) based on initial reception of the rewards, without having to go through a governance proposal for each of them. Being nimble in our approach will be key to the success of this rewards program. We’ve observed that other token distribution programs launched by other communities usually iterate a couple of times before landing on the right rewards structure
We discussed these changes in 2 governance calls:
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In December
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And 2 days ago in the January call (and subsequent conversation in the forum)
We also submitted a PR for this in late December to give everyone a chance to see the details of how we wanted to implement this.
Now the proposal is up and ready to be submitted to a vote. Please let me know if you have any further feedback on the approach!