Chainvine Referral Program

GM everyone!

Following up on my initial referral program proposal, I believe that I finally found a viable solution for a Giveth referral program that works for our needs, and that also would not need extensive developer resources using Chainvine: https://www.chainvine.xyz/

Proposal Description
Chainvine offered to create a custom referral program for us in which:

  1. We’ll be able to track referrals made from anyone (on Mainnet or Gnosis chain) and be able to split that data by project and referred donation amount.
  2. The referrer and referee both will receive a reward (that we define as a percentage).
  3. We can set the minimum threshold for payouts and only whitelist certain tokens for the referral program (like what we do with nice tokens).
  4. We can fund the payouts as part of the GIVbacks program.

The cost
1.5 ETH upfront and $250 / month (with a 6-month commitment)

Proposal Rationale
This program will allow us to create grassroots referral incentives with an endless amount of ambassadors (big and small). This will allow us to work with “influencers”, grassroots communities and anyone that wants to shill Giveth, in a decentralized manner (without having to get approval each time we want to run a partner promotion or keep requesting marketing funds).

Additionally, working with a partner like Chainvine, will allow us to save hours of dev time needed to build a custom referral system inhouse (given our backlog and other dev team priorities). Also, since they’re still early in their own product development, the Chainvine team is also very flexible and wants to work with us to customize their solution for our use case.

Technical Implementation
They will create a custom microsite for us that will allow users to connect their wallet, join the referral program and get a special link. Once anyone takes the actions we define through that link (donating certain tokens to projects that meet the minimum threshold we set), both the referrer and the referrer will get rewarded.

How we define that reward is up to us. I suggest we keep it as part of the GIVbacks program calculation and use that pool for rewards as @Griff suggested earlier. I also suggest we have a minimum referral amount that is paid out in GIV tokens (perhaps 10% with a minimum of $10, or even higher) and maybe even have it where only stablecoins are accepted for the referral program (similar to the nice token program but instead they’re rewarded in GIV).
For example, if $10 xDAI is donated, we could give 10% ($1) to the referrer from the GIVbacks that would be allocated to that donation anyway and the rest goes to the new user being referred (to avoid people gaming the system with multiple wallets).

Expected duration or delivery date (if applicable):
We had a meeting with the Chainvine dev team earlier this week with @mateodaza and @cquinterom096 and their team said they can give us a working solution within 2 weeks. The next steps would be to get approval for funding from GIVgarden and if the DAO approves, have a final scoping meeting with them to address any concerns or customizations we want.

If any concerns or questions are surfaced from this proposal, we could also have another meeting with them before that point of course.

Team Information

Skills and previous experience in related or similar work:
I have a lot of experience working in digital marketing and referral programs, so I’d be happy to lead the project management of this, working closely with @MoeNick and the rest of the dev team.

Funding Information

Amount of GIV requested: 1.5 ETH (upfront fees) and $1,500 (6 month subscription for $250 / month). At the time of this writing would be ~ 159,527 GIV (84,527+75,000)

Ethereum address where funds shall be transferred: TBD

More detailed description of how funds will be handled and used:
They are giving us a generous discount since we’re in the public goods space (more than 50% off), so we’ll need to pay 1.5 Eth (for initial development) and $250 / month with a 6 month commitment (to give us time to see if we like it).


Voting time

Should we do this referral program with Chainvine?

  • :white_check_mark: Yes
  • :thinking: I have concerns and would like to discuss below
  • :negative_squared_cross_mark: No

0 voters

4 Likes

That makes sense, we would need to add a cap of % too cause we can’t giv the referal a min of $10 if the donation is only $1… Maybe its more like a range of the % of GIVbacks… like max 50%, min10% with a plateau at $10…

So if the donation gets $1 of GIVbacks, then the referring party gets 50 cents and donor gets 50 cents
If the donation gets $10 of GIVbacks, then the referring party gets $5 and donor gets $5
If the donation gets $20 of GIVbacks, then the referring party gets $10 and donor gets $10
If the donation gets $25 of GIVbacks, then the referring party gets $10 and donor gets $15
If the donation gets $90 of GIVbacks, then the referring party gets $10 and donor gets $80
If the donation gets $100 of GIVbacks, then the referring party gets $10 and donor gets $90
If the donation gets $110 of GIVbacks, then the referring party gets $11 and donor gets $99
If the donation gets $1000 of GIVbacks, then the referring party gets $100 and donor gets $900

50%, 10% and $10 are all variables we can play with, but thats a workable pattern.

Question:

How does the referral GIVbacks work? Is it like, they click a link to a project and if they donate to that project then GIVbacks get split for that one donation, and then if they go donate to another project, all the GIVbacks go to the donor? Or is it like all the donations that person makes that day or that round give out a referral bonus to the person designated?

@Griff Yes, I was thinking that it’s just for the initial donation, not the entire day or round, although we can play with that in the future.

For the calculations you mentioned, I think that could work. In that case, could we add this referral data to our standard GIVbacks calculation process @WhyldWanderer @renjer? For example, if for each GIVbacks round the tool gives us a list of all the referrals (their addresses along with the amounts), we then manually calculate how that affects each user’s GIVbacks and allocate accordingly from our end?
As opposed to user’s being rewarded from Chainvine or separately from GIVbacks, I think that would make it much easier for us to control.

@aabugosh
I think anything we want can be done automatically by giback-calculation and impact-graph, no need to do something manually

Thanks @renjer! Sorry, when I said manually I meant in-house as part of our GIVbacks process (instead of having a third party calculate the rewards for us), so yes it could be automatically calculated from us.

2 Likes

I really like the proposal. I think this is a HUGE opportunity for Giveth’s growth.

I also appreciate the discount.

Regarding the exact process, I think considering most people’s first transactions in a new Dapp are low, just to see if it’s actually working. It might further incentivize our ambassadors to keep influencing more donations if they get a percentage of the GIVbacks for the first month or even quarter.

Not sure that if we do this, the max 50%, min 10%, $10 plateau would still make sense per transaction or in the round’s total. Maybe in this case we could leave a fix percentage as it would stick for a longer time.

2 Likes

Thank you @aabugosh let’s dot it, I suggest having it as an epic and having the votes on the token log for prioritization:
Introducing open roadmap and open backlog prioritization

1 Like

I think it might be easier for the program to just start with a flat % instead of making it more complicated with the $10 plateau.