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.

[karmaticacid]

Report 1 - GIVbacks Round 71 Raffle | September 3-17, 2024

Hey everyone! Want to provide an update on the GIVbacks V2 trial findings so far. We kicked off the program and so far have one a complete round.

Here are some resources created so far:

• GIVbacks V2 kickoff blog
• GIVbacks V2 AMA X Space - 69 tuned in
• GIVbacks V2 - Round 71 winners announcement X space - 76 tuned in
• Round 71 Raffle Picks Video
• Raffle picker github
• GIVbacks-related copy has been updated throughout the Giveth platform

Raffle entries explainer

Remember that we are selecting winning donations not winning donor addresses. Each donation has an associated number of “raffle entries”:

• The number of raffle entries a particular donation is the product of the USD value donated and the “GIVbacks %” of the project.
• The GIVbacks % can be found on a project’s page beneath the banner picture. E.g. 79% here:
  
  
• The total number of raffle entries is only known once the round ends.

Round 71 Results

Total USD value donated from GIVbacks-eligible donations: $18,576
Total raffle entries: 10,705

GIVbacks	Donor Name	Project	Donation Amount	Currency	Donation Value	Project GIVbacks %	Raffle Entries	Odds of winning
250,000 GIV	Unknown	Defend Roman Storm	1.0925	ETH	$2,580.65	50.00%	1290	12.05%
125,000 GIV	Unknown	Masq network	0.44175	ETH	$1,041.40	50.36%	524	4.90%
75,000 GIV	Anonymous	Electronic Frontier Foundation	0.2	ETH	$457.24	76.45%	350	3.27%
25,000 GIV	Anonymous	Defend Roman Storm	2	ETH	$4,724.30	50.00%	2362	22.07%
25,000 GIV	Anonymous	Defend Roman Storm	0.108	ETH	$255.11	50.00%	128	1.19%

Note: all the winners in this rounds were “anonymous” or “unknown” because they either chose to have their profile information hidden from the UI (there is a checkbox option for this you can choose when donating), or they did not fill out their profile with a human-readable name. All GIVbacks rewards for this 1st raffle have already been distributed to these winners.

Recirculation Check Results & Notes

• We had to run the GIVbacks picker twice because in the 1st set of winning transactions, two were found to be ineligible from our recirculation analysis.
• Winning donors were kept in the order that they were selected (so the donor who made the 1st tx they is more entitled to the 1st prize than the second tx, for example, as long as the donation was eligible for GIVbacks).
• The anonymous donor who won 3rd prize actually came up in the first and second runs with 2 different donations (to Roman Storm and to EFF). We chose to celebrate the donation to EFF for more diversity of projects in this 1st round.
• To avoid this repetition in the future, we will improve the picker to show 10 random txs, which we will review in sequence next time.

Next steps

• We are currently part way through GIVbacks Round 72 - which will be the 2nd round we use in this raffle experiment, and which is set to end October 1.
• The winners for the second round will be announced in our next X space on October 2. Add the Giveth Events Google Calendar to join the next space. We will have time towards the end to answer any questions about the raffle experiment so far!
• After the 2nd experimental run through, we’ll be distributing a feedback form to collect your thoughts & ideas on the experiment so far, so stay tuned for that.

[ruben12]

Hello, greetings to everyone in the community, on this occasion I would like to give my opinion, I participate little but I read a lot, these giveaways were live, why was it not published on discord?

I cannot enter x to see the draws or listen to them because they cannot be seen in We encourage you to make it more transparent, thank you for your attention.

[karmaticacid]

All you need to do to enter is to donate $5 to a GIVbacks eligible project. If you win, the GIV will be distributed to your address (the one you donated with) and you can claim it from GIVbacks: Get rewarded for donating to verified projects - you don’t need to enter the X space to qualify or win.

The videos of the draw after posted on youtube after, so you can check the results there, and I also posted the winners here in this forum.

We can make an annoucement post in discord too after the X space to show the winners.

[forestkeeperio]

Hello! The recording of the draw is here on X and there was also an event in Giveth discord

[wmb81321]

This is our recording on YouTube for transparency for GIVbacks Round 71 - Raffle #1: https://www.youtube.com/watch?v=TNf1H19rSq4