This proposal aims to understand the defining characteristics of all ParaSwap DAO members, so that the DAO can prioritize initiatives, address voter fatigue and improve onboarding incentives. We offer to conduct a data-based segmentation of $PSP token holders, based on their interests and activity patterns. This can help develop targeted onboarding strategies and optimize governance processes to foster a more engaged and vibrant community.
Note that the goal is not to directly incentivize governance participation but to introduce genuine initiatives that make participation more attractive and useful to a wider audience.
Goals & review
Governance activity in different DAOs provides valuable insights into the characteristics and preferences of wallet holders. It serves as a window into their interests, motivations, and potential contributions.
For example, taking a closer look at 0xjean.eth, we observe a strong inclination towards identity products(from participation in DAOs like Proof of Humanity, Sismo, etc.) and Public Goods (from participation in DAOs like UBI DAO, Gitcoin, etc). This presents an opportunity for some other DAO 0xjean.eth is a member of to leverage this interest by introducing DAO participation badges or some initiative focused on public goods. These tangible incentives can not only recognize and reward active participants but also serve as a magnet for other enthusiasts with similar interests, encouraging their engagement and involvement in the DAO’s decision-making processes.
Similarly, we can identify other categories of mass interest and introduce new initiatives to the DAO. For instance, if there is a substantial segment of members expressing interest in data analysis or research, establishing a dedicated research guild could be a strategic move. Having understood that the 100s of $PSP token holders are looking for gig work, the DAO could open more avenues for contribution for these people.
This proposal aims to create interest and activity-based segmentation of $PSP token holders so that the DAO can find methods to retain and onboard new addresses to ParaSwap DAO’s governance. Armed with this knowledge, ParaSwap DAO can optimize its governance processes, create better onboarding flows, prioritize new initiatives, and foster a more vibrant and engaged community.
- Understand the interests and activity patterns of token holders through data segmentation.
- Supply the necessary data and analysis to define effective onboarding strategies and foster a more engaged community.
- Increase overall engagement and activity levels of $PSP token holders.
Success will be measured by the effectiveness of onboarding initiatives, increased voter participation from previously non-active segments, reduced attrition rates, and overall improvement in the engagement and activity levels of $PSP token holders.
- Funding request of $15,000 to support DeepDAO’s analysis and deliverables.
- Utilize DeepDAO’s expertise in Web3 and governance for data analysis and segmentation.
- Collaborate with ParaSwap DAO to define and implement onboarding initiatives.
- Provide reports, CSV files, and a collaborative session for action planning.
The following high-level plan of action will be implemented to analyze the 5k+ $PSP token holders:
- Obtain the DAO resumes of all $PSP token holders, including granular activity and memberships, as aggregated by DeepDAO.
- Based on the obtained data, label each address’s interest, such as NFTs, DeFi, Investments, Gaming, gig work, etc. Interests will be defined by membership or activity in a DAO category above a certain threshold. Additionally, categorize their activity on ParaSwap DAO, including persistent voters, long-term dormant addresses, non-voters, past participants, addresses showing decreasing interest over time, and more.
- Repeat the segmentation process from step 2 with different interest/activity categories to optimize the segmentation. This will provide a well-segmented view of $PSP token holders, along with information on the size of each segment.
- Identify and label any bots or vote miners by leveraging recent research by DeepDAO, which has identified voting miners’ activity across the DAO ecosystem. This data will help identify potential malicious actors.
- Leverage DeepDAO’s domain expertise in Web3 and governance to collaborate with ParaSwap DAO in defining suitable incentives and onboarding steps for each segmented group.
- Generate a comprehensive report analyzing all governance participants of ParaSwap DAO, including both active participants and non-active $PSP token holders. The report will provide insights into primary participants, the largest segments of active and inactive participants, and segments with the highest attrition/retention rates.
- Provide a CSV file containing the details of all $PSP token holders, including their categorized interests based on the DAOs they vote in.
- Conduct a brainstorming session with ParaSwap DAO, utilizing the information from steps 1 and 2, to develop an action plan for onboarding inactive segments of voters. Potential strategies could include introducing NFT badges for individuals interested in NFTs or establishing guilds for users seeking gig work opportunities.
DeepDAO dives deeper into $PSP holders and finalizes the optimal labels & interest categories.
Time required: 4 weeks from the start of the project
DeepDAO hands over deliverables (1), (2) & (3)
Time required: 4 weeks from Milestone 1 completion
DeepDAO is the #1 discovery and analytics engine for the DAO ecosystem. We aggregate, list, and analyze financial and governance data for over 12.5k DAOs and 6.9M governance token holders across different chains and governance platforms. DeepDAO is widely recognized in the ecosystem and media as the go-to source for data about DAOs.