GIVbacks V2 - Scaling the way we reward public goods donors

[karmaticacid]

The Snapshot for GIVbacks v2 trial has passed! We’re excited to try this out for the next 2-4 GIVbacks rounds (with half the pool distributed according to V1, and half according to V2).

Will report back after the trial with findings, feedback and results to continue the conversation.

[wmb81321]

@karmaticacid

1. Raffle entries

• Each donation made in a GIVbacks round will be considered as an “entry” (with a relative weight) into a GIVbacks raffle
• The relative weight of an entry depends on the size of the donation, and the GIVpower rank (i.e. GIVbacks percentage) of the project donated to (e.g., donations to top-boosted projects have a greater likelihood of winning that a same-size donation to a lower boosted project).
• We will simply multiply the GIVbacks % by the donation USD value to determine the weight of a particular donation made during the GIVbacks round (this is the field valueUsdAfterGivbackFactor in our backend)

Would like to share here my understanding of GIVbacks Raffle Entries.

First, to get a GIV Raffle entry, you have to donate at least $5 to Verified Projects. It does not matter if is during a QF Round or not, you have to follow up the calendar of our GIVbacks Program..

Second, you have to have in mind that there is a correlation between Donation Size and % GIVBacks of the projects and the odds to win the raffle:

Higher size donation + Higher %GIVbacks Project = Higher odds to win.

Therefore, the Odds depend on:

• Sizes of the donation. : Bigger donation will increase your odds.
• GIVpower of the projects that you donated: Donations to Projects with higher % GIVbacks will increase your odds.

Advice on my Behalf

• Remind that GIVpower is the main driver to increase % GIVbacks of the projects. It means: Projects with more GIVpower will reward better your donations. In few words, You get more GIV with your donations.

• So, encourage your community to get $GIV on Optimism and Gnosis and stake in GIVfarm to get GIVPower. Remind that GIV stakers have the option to lock their stakes to multiply their GIVpower.

• Invite users to go to Giveth donation Platform and can “stake” their GIVpower on a Project to increase their % GIVbacks and their visibility on Giveth. You can change your GIVpower Allocations anytime you want.