GIVeconomy WG Season 5 Proposal

karmaticacid · October 8, 2024, 3:03pm

The GIVeconomy WG had an EPIC Season 4 and is gearing up for even more excitement in Season 5 leading up to the launch of Gurves. The GIVeconomy WG is responsible for all things GIV - GIVbacks, GIVpower, GIVstream - if you can “GIV” it a name, it probably falls within our jurisdiction.

If you missed out last proposals you can check out them out:

Deliverable Retrospective

Deliverable	Status	Note
GIVbacks V2	IN PROGRESS	We are halfway through the experimental phase of the GIVbacks V2 raffle. Updates on this forum post.
q/acc —> Gurves plan	IN PROGRESS	We have been in regular comms with the q/acc team, advising on design, execution and comms. Gurves spec pending.
GIVeconomy to Polygon zkEVM	DONE	Successfully launched in early September, and we received the grant funding.
GIVeconomy Analytics Dashboard	MAINTENANCE	This is LIVE featuring Gnosis, Optimism, Mainnet & Solana. We now need to expand it to include the newly launched Polygon zkEVM.
Connext Bridge Gnosis <> Optimism	MAINTENANCE	This went LIVE and was being maintained and rebalanced. Unfortunately, Connext informed us that in less than 2 months this tech will be deprecated, so we will need to now sunset it
Trading & Arbitrage Bots	MAINTENANCE	Both bots are live and working. Arb bot is balancing GIV price on Gnosis & Optimism. Ongoing maintenance is needed, as well as extra work to consider mainnet & Polygon zkEVM.
Leverage Marketing Agency	IN PROGRESS	Our paid term working with Myosin has just recently ended, resulting in the generation of several marketing campaigns for GIV, as well as KOL utilization.
Hire & work with Market Maker	MAINTENANCE	We are working with Skynet for GIV Market Making with ongoing monthly payments.
Fix GIV listings on major DEXs & sites	IN PROGRESS	On most major DEXs, GIV is listed, with logos and included on token lists. CoinGecko has been updated. Work continues as we now improve listings for Polygon zkEVM, and update sites as needed corresponding to liquidity moves.
Follow through on approve paths for CEX listings	MAINTENANCE	With a tight budget last season, we did not choose to get on other CEXs, but we have been collecting and maintaining a database of contacts.
Create regular content for marketing GIV	IN PROGRESS	Launched several campaigns: GIVbacks V2, decentralized verification, GIVpower for governance, Dashboard, Bridge, Ahead of the Gurve, q/acc - analysis in here. We are working on more.
Run 1 GIV Token Essentials	DONE	Session on GIVbacks V2 & devouch recording here
Distribute GIVbacks & $nice for each round	MAINTENANCE	It’s been happening! We are currently working on Round 71.
Train & onboard contributors to support GIVbacks recirc checks	DONE	William & Rob have been onboarded to do recirc checks & have been documenting their work.
Maintain & top-up GIVpower rewards	MAINTENANCE	This has been maintained through the season. A new rewards extension will be required in Nov.
Manage GIVeconomy support tickets	MAINTENANCE	Been happening
GIV token distribution audit	IN PROGRESS	V1 of the audit is complete, awaiting final checks from the rest of the team.
Improve & maintain GIVeconomy documentation	MAINTENANCE	Docs for GIVbacks, GIVpower, GIVeconomy have been updated. More changes expected in the future.

Bonus Deliverables

We didn’t say we’d do these things, but we like overperforming, so:

Deliverable	Status	Note
Subgraph migration	DONE	We migrated over our subgraph to keep things up to date and ensure non-stop GIVeconomy.
LBank Manual MM	DONE	While the trading bots & MM were being activated, we needed to continue manual MM on Lbank to ensure >$10k trading volume.
GIVeconomy User Survey & Redesign	IN PROGRESS	Mo & I have started slow (when we can) work on a bit of a UI redesign, to improve the UX of the GIVeconomy, and are conducting user research.
Implemented a $5 minimum & claim window for GIVbacks	IN PROGRESS	Dapp copy changes &

Core Metrics Review

Metric	Target	Actual
GIV vs ETH 3 mo. Perfomance	Equal	From July to Oct 2024: -19.5% ETH vs. -28.8% GIV
GIV token 24hr Trading Volume	At least $140k	$194k on LBank
Add GIVeconomy to other Chains	1 chain	1 chain (Polygon zkEVM)
Average 7-day Connext Bridge Volume	>$50k USD	Tech was deprecated so can’t check
Gnosis vs. Optimism price for GIV	within 1%	On Oct 7, 2024: $0.00579 on Gnosis vs. $0.005788 on Optimism = 3.45% difference

Spending Review

Breakdown	Estimated S4 (3 month) Cost	Actual S4 Cost
Salaries	$69,400	$66,737
Market Maker Fee	$6,000	$6000
Total	$75,400	$72,737

GIV Token Info

Quick Links

GIV performance

LBank trading volume is up from $78k to $194k in 24 hours
Trading volume on Optimism is up from $219k to $312k in a 6-month period
Token perfomance from July 5 to Oct 7:
- GIV: -28.8%
- ETH: -19.5%
- GTC: -15.3%
- OP: +16.7%
- GNO: +51.1%
- MATIC: -23.0%

Marketing Observations

GIVfarm page grew from the 8th most visited page, to the 5th, with over 100 more visits than last period
Our KOL activation test (with Bellick) led to 80 clicks to GIV token linktree & 64% click rate (Sep 12 to Sep 27)
GIVbacks V2 was our best performing campaign this period (from all the GIVeconomy marketing campaigns)
q/acc brought valuable attention to Giveth, especially due to the Polygon partnership. The program and content were well-received by Giveth’s audience.

Season 5 Deliverables, Metrics & Budget

There are 3 possible scopes that GIVeconomy can take in the coming Season, each with different deliverables, metrics and budget. The Season Snapshot vote will dictate the scope of this working group, depending on it’s signaled priority amongst other working groups, as decided by the Giveth DAO.

Note: As per discussions in recent governance calls, all work specifically on implementing Gurves will now fall within a new WG proposal Gurves and are now outside of the scope of GIVeconomy WG.

Grow

What we will do

Finishing things out

Conduct GIVeconomy user research to identify pain points & user needs
Complete GIVbacks V2 experiment & governance process
Add Polygon zkEVM support to GIVeconomy Analytics Dashboard
Unwind deprecated Gnosis < > Optimism Connext Bridge
Complete GIV token distribution audit to get an accurate sense of how much GIV the DAO controls

New Features

Create a new design for GIVeconomy UX based on user research (e.g. consolidating pages, improving GIVpower, etc.)
Implement new GIVeconomy UX design (develop, test, launch & market)
Bring the GIVeconomy to other chains/networks as promised by won grants
If proposal for GIVbacks V2 passes:
- Deprecate old GIVbacks processes & full implement GIVbacks V2
- Work with Lotto PGF on a on-chain version of the raffle “picker”
- Design & develop improvements to GIVeconomy & donation UX to make “raffle entries” more apparent
Research, possibly implement a new solution for easy bridging between supported chains
Improve Arbitrage bot to balance GIV price across Ethereum Mainnet, Gnosis Chain, Optimism and Polygon zkEVM
Publish GIVeconomy GIV distribution update (from the audit work) to share with the entire DAO the evolution of the GIVeconomy

Token Growth

Execute on “Ahead of the Gurves” and “The Difference is Clear” GIV marketing campaigns
Track analytics on GIV marketing campaigns and use them to inform future GIVeconomy social content
Grow CEX contacts and execute on approved paths for getting GIV listed on CEXs
Run 2 GIV token essentials sessions for the internal community

Maintenance

Distribute GIVbacks & $nice tokens for each round, and post corresponding comms messaging
Maintain & top-up GIVpower rewards program
Manage support tickets related to GIVeconomy
Maintain GIVeconomy documentation, corresponding to any changes
Manage Market Makers and trading bots keep volume about $50k with a market depth over $1000 +/- 2%
Manage CEX contacts
Maintain GIV token listing information & logos on major sites and DEXs - including CMC & Quickswap Polygon zkEVM

Core Metrics

Reduce GIVbacks processing salary budget by 50% by the end of the season (currently approx. $6500 for the season
Make GIVeconomy 3rd most visited page on Giveth (currently 5th)
GIV token price within 3% on each major chain - Ethereum, Optimism, Polygon zkEVM, Gnosis Chain (currently 3% between OP & Gnosis, but further off on other chain)
GIV token price performing better than related alt coins (e.g. POL, GTC, OP, GNO)
100 visits to GIVtoken Linktree
Launch “Ahead of the Gurve” campaign with higher perfornance than regular tweets (>50 engagements per post)

Budget

	Estimated S5 Cost
Dev	$18,200
Design	$4,100
PM	$27,600
Community	$22,300
Market Maker Fee	$6,000
Optional: GIVeconomy new chain integration	$9000
Total Budget	$78,200 +Optional: $9000*

*The $9,000 required to cover a new GIVeconomy EVM chain integration will come directly from any grant won to justify the work.

Sustain

What we will do

Finishing things out

Conduct GIVeconomy user research to identify pain points & user needs
Complete GIVbacks V2 experiment & governance process
Add Polygon zkEVM support to GIVeconomy Analytics Dashboard
Unwind deprecated Gnosis < > Optimism Connext Bridge
Complete GIV token distribution audit to get an accurate sense of how much GIV the DAO controls

New Features

Create a new design for GIVeconomy UX based on user research (e.g. consolidating pages, improving GIVpower, etc.)
Bring the GIVeconomy to other chains/networks as promised by won grants
If proposal for GIVbacks V2 passes:
- Deprecate old GIVbacks processes & full implement GIVbacks V2
- Work with Lotto PGF on a on-chain version of the raffle “picker”
- Design & develop improvements to GIVeconomy & donation UX to make “raffle entries” more apparent
Publish GIVeconomy GIV distribution update (from the audit work) to share with the entire DAO the evolution of the GIVeconomy

Token Growth

Execute on “Ahead of the Gurves” and “The Difference is Clear” GIV marketing campaigns
Track analytics on GIV marketing campaigns and use them to inform future GIVeconomy social content
Run 1 GIV token essentials sessions for the internal community

Maintenance

Distribute GIVbacks & $nice tokens for each round, and post corresponding comms messaging
Maintain & top-up GIVpower rewards program
Manage support tickets related to GIVeconomy
Maintain GIVeconomy documentation, corresponding to any changes
Manage Market Makers and trading bots keep volume about $50k with a market depth over $1000 +/- 2%
Manage CEX contacts
Maintain GIV token listing information & logos on major sites and DEXs - including CMC & Quickswap Polygon zkEVM

What we won’t do

Improve Arbitrage bot to balance GIV price across Ethereum Mainnet, Gnosis Chain, Optimism and Polygon zkEVM
Research, possibly implement a new solution for easy bridging between supported chains
Implement new GIVeconomy UX design (develop, test, launch & market)
Run 1 GIV token essentials sessions for the internal community (we will only run 1)
Grow CEX contacts and execute on approved paths for getting GIV listed on CEXs

Core Metrics

Reduce GIVbacks processing salary budget by 50% by the end of the season (currently approx. $6500 for the season
Make GIVeconomy 4th most visited page on Giveth (currently 5th)
GIV token price within 3% on OP & Gnosis
GIV token price performing comparatively to related alt coins (e.g. POL, GTC, OP, GNO)
100 visits to GIVtoken Linktree
Launch “Ahead of the Gurve” campaign with higher perfornance than regular tweets (>50 engagements per post)

Budget

	Estimated S5 Cost
Dev	$7,300
Design	$4,100
PM	$21,200
Community	$18,400
Market Maker	$6,000
Optional: GIVeconomy new chain integration	$9000
Total Budget	$57,000 + Optional: $9000*

*The $9,000 required to cover a new GIVeconomy EVM chain integration will come directly from any grant won to justify the work.

Shrink

What we will do

Finishing things out

Complete GIVbacks V2 experiment & governance process
Add Polygon zkEVM support to GIVeconomy Analytics Dashboard
Unwind deprecated Gnosis < > Optimism Connext Bridge
Complete GIV token distribution audit to get an accurate sense of how much GIV the DAO controls

New Features

Bring the GIVeconomy to other chains/networks as promised by won grants
If proposal for GIVbacks V2 passes:
- Deprecate old GIVbacks processes & full implement GIVbacks V2
- Design & develop improvements to GIVeconomy & donation UX to make “raffle entries” more apparent
Publish GIVeconomy GIV distribution update (from the audit work) to share with the entire DAO the evolution of the GIVeconomy

Token Growth

Execute on “Ahead of the Gurves” and “The Difference is Clear” GIV marketing campaigns

Maintenance

Distribute GIVbacks & $nice tokens for each round, and post corresponding comms messaging
Maintain & top-up GIVpower rewards program
Manage support tickets related to GIVeconomy
Maintain GIVeconomy documentation, corresponding to any changes
Manage Market Makers and trading bots keep volume about $50k with a market depth over $1000 +/- 2%
Manage CEX contacts
Maintain GIV token listing information & logos on major sites and DEXs - including CMC & Quickswap Polygon zkEVM

What we won’t do

Improve Arbitrage bot to balance GIV price across Ethereum Mainnet, Gnosis Chain, Optimism and Polygon zkEVM
Research & implement a new solution for easy bridging between supported chains
Implement new GIVeconomy UX design (develop, test, launch & market)
Run any GIV token essentials sessions for the internal community
Conduct GIVeconomy user research to identify pain points & user needs
Create a new design for GIVeconomy UX based on user research (e.g. consolidating pages, improving GIVpower, etc.)
If proposal for GIVbacks V2 passes: Work with Lotto PGF on a on-chain version of the raffle “picker”
Track analytics on GIV marketing campaigns and use them to inform future GIVeconomy social content
Grow CEX contacts and execute on approved paths for getting GIV listed on CEXs

Core Metrics

Reduce GIVbacks processing salary budget by 50% by the end of the season (currently approx. $6500 for the season
GIV token price performing comparatively to related alt coins (e.g. POL, GTC, OP, GNO)
80 visits to GIVtoken Linktree
Launch “Ahead of the Gurve” campaign with higher perfornance than regular tweets (>50 engagements per post)

Budget

	Estimated S5 Cost
Dev	$7,000
Design	$2,100
PM	$19,200
Community	$15,700
Market Maker	$6,000
Optional: GIVeconomy new chain integration	$9000
Total Budget	$50,000 + Optional $9000*

*The $9,000 required to cover a new GIVeconomy EVM chain integration will come directly from any grant won to justify the work.

Next Steps

The GIVeconomy WG has been AMPED UP since Season 4, and I’m so excited about the progress that we have made. Looking forward to another season of cleaning things up and prepping the GIVeconomy leading up to the launch of Gurves.

This forum post will remain up and open for advice until all other Working Groups Proposals entering this Season have met minimum advice process. After that we will move to a Snapshot vote to decide the priorities of the Giveth DAO for the next 3 months.

When we have the outcome of the Snapshot vote we will meet as DAO Stewards to finalize the scopes of all WGs based on the available Season budget.

BTW Major praise to @mitch @JakeS @Griff @OyeAlmond for helping me compile this proposal! I seem to be posting it first, but I was dead last at getting it ready

mitch · October 11, 2024, 2:58pm

Thanks for the proposal. Lots of details here to unpack, I have some notable concerns about the performance of the GIVeconomy and how the proposed plans attempt to address these problems.

Token Price

As we can see the price of GIV has been performing poorly for several years. I don’t think enough has been really done to address these problems. What is the GIVeconomy going to do to boost the performance of the GIV token? Are Marketing campaigns and UX changes the solution or are we holding our breath for Gurves to fix the GIV token’s problems?

For this metric - “GIV token price performing comparatively to related alt coins (e.g. POL, GTC, OP, GNO)” what does comparatively look like? How can it be measured?

Lotto PGF raffle picker

Considering our limited budget, what real benefit does integrating this bring? Does it need to be on-chain or is it adding unnecessary complexity? What does this feature entail? Is it more transparent? Is it easier to run?

Bots and Market Makers

I see we’ve managed to maintain a safe trading volume on LBank and we have several arb bots maintaining some equilibrium (although the goal of 1% was failed to be attained), how has this played out? I understood that as the GIV price goes down we’ve been losing some of the capital that was injected (by Griff IIRC) to keep our markets balanced and with healthy volumes.

Are the costs justifying the benefit? What happens to the Arb bot if the Connext bridge is deprecated?

Token Essentials

How are you measuring the success of running continuous GIV Token essentials? What are the tangible goals of these sessions?

Overall I’m excited to see that the marketing work with Myosin provided some exciting campaigns, a UX revisit for the GIVeconomy is indeed sorely needed!

karmaticacid · October 21, 2024, 3:25am

The build & launch of q/acc is already building hype around the GIV token, as well as marketing efforts we’ve put in so far. Next steps include:

Public building of gurves - keeping the community looped in on plans
Starting gurves project onboarding for the 1st cohort
Executing/continuing to execute marketing campaigns that came out of our work with myosin (Ahead of the Gurves & The Difference is Clear)
Activating more KOLs (like, Bellick & Crypto Gideon) - we have 8 ready to go, but we are waiting for generally improved crypto market conditions before activating

UX improvements are part of that as well, though I think have less impact potential for token price specifically.

Since there is a lot of variability in different tokens’ performance, we can look at the average % increase and decrease accross those comparable coins, and then compare that to GIV % increase or decrease. It’s a subjective metric so we need to also look at the numbers and bear in mind what happened with that coin or community (for example, if something like NODE happened … it wouldn’t make for a good practical comparison).

Partnering with other reputable public goods communities brings legitimacy and hype around our work. Working with Lotto PGF would allow us to leverage their existing lottery-hyped public goods community and hopefully get them to donate on Giveth as well. This doesn’t need to be an overly complex solution, it could be as simple as using their on-chain randomly generated number thing (they just launched this)… and then having that select the winner on a spreadsheet.

The budget for this is small, it’s a total of about $1500 for the season, considering the time it would take for me, Aubree and Griff to work with them and execute on a new solution.

We might consider also offering a small bounty to LottoPGF in GIV, if they need to build something custom for us, but if that it the case, there would be a separate proposal to request that from the GIVgarden bucket.

The goals of these session are to activate & empower our community of contributors to be ambassadors for the GIV token and our high level strategies for the GIVeconomy. It’s internal knowledge sharing that makes it possible for contributors to explain giveth well to their peers and networks, which has broad sweeping positive effects, particularly at conferences, during twitter spaces, on social media & during discord events. These are the last 2 sessions:

@Griff can answer this one as he is managing our market maker.

Griff · October 27, 2024, 7:42am

The Arb bots stopped working sadly since the connext bridge went down… we will need to figure out another solution, as the Arbitrage is crazy right now.