PSP-BPΔ1-8: Contributors budget (8.80M $PSP, 3.70% budget)

Key words
Reward involved contributors

Simple summary
Make ParaSwap DAO autonomous with salaries for involved contributors

Context
Several types of contributors are working on ParaSwap DAO: Scribes, Moderators, Ambassadors, Delegates… The goal of this proposal is to reward each one of them to decentralize the DAO at the maximum.

Rationale
This proposal is different from the grant program which will reward punctual help on a dev side, or a project building on top of ParaSwap, as it will reward active contributors.

A full proposal to detail the contributor budget will be shared on the forum in the coming days.

Voting options

  • Accept the Contributors budget (8.80M $PSP, 3.70% budget)
  • Refuse the Contributors budget (8.80M $PSP, 3.70% budget)
  • Abstain
Should we allocate a contributor budget
  • Accept the Contributors budget (8.80M $PSP, 3.70% budget)
  • Refuse the Contributors budget (8.80M $PSP, 3.70% budget)
  • Abstain

0 voters

4 Likes

When can we expect this to be posted.

To go along with @Tenzent , we first vote on the budget and once the vote is validated each proposal that needs to be explained will be detailed in a supplementary proposal ?
(This avoids detailing a rejected proposal).

Or is the detailed proposal work in progress? I have my own opinion (probably a bit hasty) but it will probably help some people to make their decision (especially when it is a first experience of DeFi and the amounts are a bit abstract).

2 Likes

From my understanding, the current proposal is WIP, as there is a focus being given to other budget proposals that have received more attention (Gas refund, POL, Staking, etc). However, I wanted to give out a couple of my own thoughts on things that might have to be considered on this budget implementation, and I would love to hear the thoughts of everyone else:

  1. Evangelist role

In its current state, everyone is free to label themselves as evangelists, which makes the role pretty much impossible to budget. Because of this, I think there’s going to be a need to reform its role entirely.

Personally, I think the best solution would be to split the role into two roles, with different levels of strictness:

  • A less strict ‘Influencer’ role: This role would be for people that seek to increase the outreach of Paraswap as much as possible, even if they are not directly involved in the DAO’s day-to-day running. This role could be compensated by giving them an even bigger cut of the referral link split for a whitelisted address. This would not even require a new audit, just for us to send the slippage initially allocated to Paraswap, and its compensation would be directly proportional to how effective their referral link is.
  • A ‘community manager’ role, with stricter criteria. I’m still not sure on what duties this new role would have, all I know is that these people are expected to better represent the DAO, so a stricter selection process could be necessary.
  1. PSP Lock for compensation?

To avoid contributors dumping their rewards as soon as they receive them, I think some sort of lock mechanism is necessary. Something reasonable, like a 2 month lock that can be unlocked early with positive price movements, makes sense to me.

  1. Gas refund NFT compensation for long-term members?

Finally, wanted to throw an ‘out-there’ idea! To reward long-standing members (I’d say 3 month minimum for the lowest rank), we could give unique NFTs to users. This would help people remain motivated to remain in the DAO in the long term, and would reward protocol usage even after they are not DAO members.

6 Likes

I agree here : a lock on rewards seems a good option.

And 3. is certainly “out there” but makes a lot of sense, rather than being rewarded only via PSP, as we’re all blockchain users and swapoooooors, so +1 for the gas compensation (in any form)

Cheers

1 Like

Seems that a UMA KPI Option would be perfect for something like this and would be very low effort since the UMA team is always happy to assist. Here’s an example of what UMA currently does for their contributors using some arbitrary numbers.

  • UMA Mints and airdrops a KPI Option to a curated list of users.
  • Each KPI Token is worth anywhere from 10-100 UMA.
  • UMA’s KPI says that for every X dollar amount of intergrations the KPI Token will be worth X more UMA tokens at expiry.
  • When the option expires the contributors are free to claim the amount of UMA that corresponds to them based on how many intergrations were achieved.

This will put a time constraint on token unlocks and at the same time align the contributors around a combined goal. good metrics could be something like possitive slippage income or volume although volume can be quite subjective since it’s more guided by market conditions than anything.

5 Likes

I am not familiar with UMA or KPI options but this idea sounds interesting to me.

However, I did a little search and found
this interesting article and the idea makes a lot more sense.