Use 350k CVP from canceled testers’ allocations to establish a separate fund which will be sponsoring all types of PP contributors
7 allocations from Beta and Gamma testers were canceled due to different reasons
According to the discussion in Oct-2020, we planned to retrospectively distribute 150-200k CVPs to early LPs as rewards
At the moment it’s pretty obvious, that we can use this 350k CVP in a much smarter way to help the Project (I am saying this with a heavy heart as I have been an LP since the day #2).
I suggest to create a separate address and put these funds there until we decide on the exact rewards policy
While being working on this simple proposal, I checked out what methods for community rewards are used by other projects and surprisingly found out that there are either no properly established schemes or the existing schemes just dont work for PP (e.g. Polka’s rewards system). So we have to invent it ourselves
As “Democracy cant exist without rewards”, we can hardly expect the most active community members with relevant skill sets to allocate enough time to work on numerous tasks for PP without a clear understanding of what can they earn.
While establishing a proper landscape of possible “jobs” and rewards is a complex task itself and require deep dive into the Projects vision and strategy, we need to start from something.
Lets make this first step and then work on a more detailed structure of rewards and workstreams.
This will allow us to attract the best minds to enforce the Team’s capacity and fund research, marketing, biz/cust/product dev tasks.
So effectively this will be a cash-in investment into the Project.
350k CVPs is ~$1 mn at the current price - I estimate that this will be enough at least for 12m.
We already have at least two ways to spend these funds:
- Ambassador program PowerPool Ambassador Program Discussion
- Research grants Proposal 11: Issue a grant to co-fund research on Balancer AMM with Balancer Labs
Parts 2 and 3 of this proposal will effectively be a detailisation of this specification and will include
- Suggested types of jobs to be funded from the Rewards pool
- Proposal on establishing community-governed/elected governance bodies