Hey everyone!
The purpose of this forum post is to outline a proposal for how a project’s GIVpower ranking should affect the amount of GIVbacks their donor sget.
Background
As you likely know, we sucessfully launched GIVpower staking & locking and we’re well on on way towards launching GIVpower boosting.
Our previous GIVpower forum post gives all the context on what is GIVpower & how it works, so if you’re not in the loop, check that one our first.
With GIVpower, GIV holders can stake and lock their GIV to earn a yield & get GIVpower. They can boost their favourite projects with that GIVpower to improve the projects’ rankings. Future donors to higher-ranked projects on Giveth will get a greater % of GIV back from GIVbacks.
With our current GIVbacks program, donors to verified projects on the platform get “up to 75%” of the value of their donation “back” in GIV, streamed over time. This 75% number is called the “max GIVbacks factor”. We have allocated 1 million GIV to go out during every 2-week GIVbacks round. If 75% of the value of donations during that round exceeds the value of 1 million GIV, the amount of GIvbacks each donor gets is proportionally less.
When we launch GIVpower boosting, this “max GIVbacks factor” will change for projects dependent on their rank.
Proposal
@mitch @griff & I collaborated on the following propsal. Our goals were:
- To reward donors to the highest ranked projects even more than they would w/ our current “up to 75% back” max GIVbacks factor condition
- To encourage projects & GIVpower uses to play the game, no matter where they are in the ranking, because there are increased benefits at every increment.
We created this spreadsheet with our recommendations. Some details:
- The highest possible (max) GIVbacks factor is 80%, this is given to project that is ranked #1
- The lowest possible (max) GIVbacks factor is 50%, any project that has no GIVpower behind it, gets this lowest max factor
- Any other project who has GIVpower behind it will get a unique max GIVbacks factor that is somewhere in between 80% & 50%, based on their rank.
- The difference between the max GIVbacks factors of two projects of subsequent rank will be the same, no matter how high up they are in the ranking (i.e. the GIVbacks factors follow a linear progression)
We think this is a “safe enough to try” option for how GIVpower should affect GIVbacks because it creates an element of competition around GIVbacks using GIVpower. Boosting projects with GIVpower can actually have significant impact on the incentives given to the project’s future donors. Also, even small boosts count!
With this change, we will be replacing the simple 75% max factor, so this will create an impact on our current projects and donor base. It will be very important to communicate to our users, and hopefully this change encourgaes GIV holders & projects to get more involved & use their GIV to make an impact!
Do you agree with this proposal to change the max GIVbacks factor based on GIVpower ranking?
- Yes!
- No, I have feedback & will comment below.
0 voters
