Using tokens to incentivize participation in the governance of Akita Network

🤝 DAO Proposals
1

Summary
This proposal recommends we start
sending tokens to members who are active in governance of Akita Network.

Eligible governance platforms: Akita Network Discourse, Akita Network Snapshot, Akita Network treasury multisig wallets.

Included in this proposal is a small monthly budget of $150 Akita, to assign a ‘Reward Ambassador’ the task of defining the first version of the reward framework and keeping it updated and fun.

This proposal requires that we are able to reward both small and big achievements, and that we can send tokens with minimal gas fees. Hence, any token added to this reward framework will likely have to be sent from a sidechain or Ethereum L2 solution.

Current situation

  1. Currently there are only a small amount of people active on our Discourse and Snapshot.
  2. We do not use tokens to incentivize more people to participate in our Discourse discussions or Snapshot voting.
  3. There is no framework or set of criteria available to transparently show what kind of activity is rewarded.

Requirement: The reward framework must enable both small and big rewards
The gas fees on Ethereum mainnet are currently making it challenging to reward anything but big achievements.

The requirement to also reward small achievements means the tokens have to be sent from a gas efficient solution, such as a side chain or Ethereum L2 (unless the gas fees on Ethereum mainnet are severely reduced).

Creating the reward framework and keeping it updated
Once this proposal has been approved, a Reward Ambassador will be selected to define the first version of the reward system and to keep it updated and fun. The Reward Ambassador is a new role in the Akita DAO organization and requires a small budget of $150 per month to keep the person active. The Reward Ambassador can be replaced with a 30 day notice but it requires a vote to be open for a minimum of 5 days at Telegram: Contact @akitatoken.

The first version of the reward system needs to be approved via a Snapshot proposal. Following that, changes can be approved via a vote at Telegram: Contact @akitatoken. These votes must include the option to move the vote to Snapshot (for example in case the DAO members feel the change is too important for a Telegram vote).

The Reward Ambassador must create a vote to update the reward system at least once every two months (the role is demonetized otherwise).

Selecting the Reward Ambassador
The Reward Ambassador is selected via a vote at Telegram: Contact @akitatoken. To qualify as a candidate, the person must have submitted a draft of the reward framework (no plagiarism will be allowed).

Budget & execution

  • This reward system should leverage only tokens officially included in the Akita Network ecosystem.
  • Monthly budget for rewards to active DAO members: To be defined in the reward framework.
  • Salary to Reward Ambassador: $150 / month in Akita.

The selection of the coordinator can be handled via a Telegram vote. However, due to the large volume of money involved in this, the coordinator should be a long-term active and trusted member of Akita DAO.

The Reward Ambassador is expected to help with monitoring the activity and sending rewards, but the majority of that task should be carried out by the DAO stewards.

Timeline

  1. Discourse discussion: 1 week.
  2. Voting: 1 week.
  3. Execution: Reward ambassador selection starts two weeks after the voting (to give the candidates time to draft a first version of the reward framework).

Voting options

  • Yes: Proceed to execute on this proposal.
  • No: Significant change is required before the proposal is put up for voting again.
  • Abstain.
2 Likes
2

Why not assign the task to the Stewards?
That way the $150 is saved
The Stewards are already here for the DAO and are trusted members

3

This proposal is for two items:

  1. Agree if we should start distributing tokens based on participation.
  2. Formalize the role, the expectations and budget for this role.

I think it’s wise to include the stewards in the vote, but I also think it’s good to agree on the expectations and make this more systematic. This is not a task the stewards are doing today, and I think it would be nice to try with an incentive so this task is performed continuously.

It would make sense to let the stewards absorb this at no cost, but…then it gets a bit unclear what happens if the task is not performed.

So maybe it would be easiest to have that discussion after this proposal?
Could be amended by just saying “Once this proposal has been accepted, we will agree if the Reward Ambassador role is absorbed by stewards or by someone else. A budget of $150 monthly would be needed for this role unless the stewards absorb it”.

4

Well on the first part, I think incentives are good to encourage DAO participation,

How much incentives are you thinking of? (Such as 50 HACHI if someone votes on a proposal)

Also for the second part of this, who is in charge of it, if the responsibilities go to the Stewards can it be set up like how the claim page was set up?
For example a snapshot of the addresses that voted on a proposal is taken and a claim page has the amount of tokens each voter has available to claim.

Just throwing out some ideas for the potential that this proposal passes so we have an idea how to proceed properly.

1 Like
5

Good questions, but I think it’s better we approach this one step at a time. Let’s first agree if we actually want to start incentivizing and have such a role.

Then we should have candidates come up with a first draft that can be voted on (including a list of achievements, the reward amount for each achievement and the total available reward budget each month).