@cotabe @mitch - we won’t need to top off the token distro within this year, because we allocated 20 mil GIV to “GIVcuration” (our old name for GIVpower)… also, we will likely not need to the 10 mil GIV for multichain Trace, so that gives us another 10mil to play with to extend the program even past the 1 year period.
We will eventually need to top off the token distro, but not within this year for GIVpower.
Ok! After no objections in the gov call, the snapshot vote is up!
Please vote:
https://snapshot.org/#/giv.eth/proposal/0xf1f999bc9df3420e5ee78cf4906aa2544688955af14bf871bff71c7d62436002
Soooo… those of us who received our full distro instead of the 20% liquid… should not vote righ now… righ… 
I know 
I already voted… I’m kind of expecting that we’ll get unanimous “yes’s” but if not, we might have to remake the vote.
Alright! The DAO has spoken.
86 addresses voted. 3.3M GIV on YES, 928 GIV on abstain… (no no’s)
We will be allocating 7 mil GIV from the token distro “future roadmap projects” as incentives for GIVpower staking for 6 months! woohoo!
GM folks - it’s that time already. Our 6 months of GIVpower staking incentives are about to run dry.
Current program ends: April 18, 2023
Request: Top up incentives for 6 more months (until October 31 2023 
)
Request amount: 13,000,000 GIV
Because of the GIVstream, we have inflation and therefore an increasing amount of GIV staked over time. This is why the amount requested is higher than was requested for the 1st 6 months of GIVpower. The current requested 13 million GIV was determined by:
@griff & worked on this in this spreadsheet on the GIVpower March '23 tab. The spreadsheet was explained last summer in this video.
The biweekly distribution rate of GIV will be as follows:
| Round | Start Date | GIV | % of 6 mo. Total |
|---|---|---|---|
| Round 1 | April 18 | 753,000 | 5.79% |
| Round 2 | May 2 | 780,000 | 6.00% |
| Round 3 | May 16 | 807,000 | 6.21% |
| Round 4 | May 30 | 834,000 | 6.42% |
| Round 5 | June 13 | 861,000 | 6.62% |
| Round 6 | June 27 | 888,000 | 6.83% |
| Round 7 | July 11 | 915,000 | 7.04% |
| Round 8 | July 25 | 942,000 | 7.25% |
| Round 9 | August 8 | 969,000 | 7.45% |
| Round 10 | August 22 | 996,000 | 7.66% |
| Round 11 | September 5 | 1,023,000 | 7.87% |
| Round 12 | September 19 | 1,050,000 | 8.08% |
| Round 13 | October 3 | 1,077,000 | 8.28% |
| Round 14 | October 17 | 1,105,000 | 8.50% |
| Total: | 13,000,000 | 100.00% |
We are proposing to launch GIVpower staking on Celo & maybe Optimism, and if this happens during this GIVpower rewards distribution period, we would take 10% of these rewards and bridge it to the appropriate chain - to use as incentives there.
People are able to lock up their for a 1 year, so if we want to keep GIVpower going, we will need to top this up again in 6 months
Time is of the essence here because the current rewards run out April 18. I will leave this up for advice process, and then make a vote in snapshot. If you have any questions, objections or concerns, please comment. And… to get a soft signal, please vote:
0 voters
This vote is live in Snapshot, please vote:
https://snapshot.org/#/giv.eth/proposal/0xde423f49452e8340de5843134f3389b49afaeb278a2f96fdbe73705414686e9e
The vote has passed, we will proceed with extending the GIVpower incentives until October 31, 2023.
GM folks - yikes! This came up fast!
Our 6 months of GIVpower staking incentives are about to run dry.
Current program ends: October 31, 2023
Request: Top up staking incentives on Optimism & Gnosis Chain for 6 more months (until April 30, 2024)
Request amount: 12,500,000 GIV
From: Token Distro allocation to Multichain TRACE & GIVmatching
GIVpower is our primary token use case for GIV. Demand for GIV is created especially during QF rounds, when people want their projects (or certain other projects to be seen on the projects page). This is something that makes our dApp stand out from other donation apps.
We recently added Optimism chain to GIVpower (which we got grant funding to do), and we’re seeking grants from other networks & chains to do the same for them. It’s a nice offer to orgs to say “we will incentivize people to lock capital on your network/chain”.
Users have locked their GIV tokens in GIVpower expecting incentives and multipliers for periods between 2 weeks & 1 year. If we wanted to stop GIVpower incentives, it would open a bigger discussion around how we should change GIVpower (like perhaps even unlock their GIV early…)
At the launch of the GIVeconomy, we allocated 20mil GIV to be used for GIVpower. In the year since the launch of GIVpower, that 1st 20mil GIV was used up (7mil in the 1st 6mo. & 13 mil in the 2nd 6mo.) & distributed to the GIVpower stakers as incentives.
Now, in order to continue the rewards, we will need to use GIV from other pots. I think we should use:
This GIV is already in the token distro, and basically, if you all thing that this sounds fine, we can assign 12.5 million GIV to our GIV staking unipools (part on on gnosis & part on optimism) and continue GIVpower for another 6 months.
Because of the GIVstream, we have inflation and an increasing amount of GIV staked over time. It’s been pretty much increasing at a linear rate.
However, in an effort to decrease our burn rate of GIV - and considering the current state of DeFi and generally low yield opportunities across the space - I think we should reduce the APRs from an average of 28% (currently) to an average of 19%.
Therefore, the current requested 12.5 million GIV was determined by:
@griff & worked on this in this spreadsheet on the GIVpower Oct '23 tab. The spreadsheet was explained in summer '22 in this video .
Currently, we are using 10% of the total incentives on Optimism, and 90% of the incentives on Gnosis Chain.
I would like to try to get relatively equal APRs across both chains, and therefore propose to put:
This should give us an average APR of about 19% on both chains.
If within this 6 month period we decide to add another chain to GIVpower, we should take 10% of the remaining incentives to use on that chain… and take that from Optimism or Gnosis - as needed - to once again try to achieve the same average APR on both chains.
Time is of the essence here because the current rewards run out this Tuesday on October 31. I’m putting this right up on snapshot to get on chain approval to use that 12.5 million GIV to continue incentives…
If the vote looks favourable by Oct 31, the GIVeconomy WG will proceed as proposed here, and if when that vote passes on Thursday there is an issue, we will put up a new vote to request the GIV from somewhere else.
Snapshot vote is here!
https://snapshot.org/#/giv.eth/proposal/0x776874e0a3027f6b451f8c8f9a24cf94de1824d4f3d7d5cf0b7523d2f2329fe8
This seems like an easy solution, use what was allocated for things we aren’t doing or already did… thanks for being on top of this and presenting options that don’t really have a downside 
What is your thinking for keeping them equal?
Did you consider whether there is value in boosting incentives to use Optimism for a time ?
Hey Dani! Thanks for the great input! I’m definitely open to it and would be interested in hearing other people’s thoughts.
The logic here is basically:
We could bump it up more on Optimism. I’m open to suggestions on “by how much”.
One more thing to consider is that a lot of people probably locking in their staked GIV on Gnosis Chain for x period of time (up to 1 year), so I wouldn’t want to give them too too much of drastic hit in rewards.
Thanks Lauren, that is super helpful to understand that Optimism was low, and we want to bring it up to at least even, without adversely impacting staked GIV on Gnosis.
It was a big question for me, how much GIV to bridge over to Optimism from Gnosis because I wasn’t sure how staking is fully integrated into GIVpower… I don’t want to compromise my boosting support of projects, I do want to maximize my staking rewards.
I’m happy to know that while we committed to at least 10% to new chains, we are exceeding that substantially here for Optimism in order to keep the APR balanced.
Now I just wonder, how to more efficiently manage farming and staking across chains, especially with ETC and the door open for more 
This sounds like very well balanced engineering!
Hey there! I had a look through the spreadsheet and I was curious if we knew from the last 13 million GIV in rewards - how much was retained in system by re-staking or donations in GIV vs. how much was sold by rewards recipients?
I feel like the external sentiment is that GIV is valued very highly, since it is number only go down token… So maybe 20% sustained APR doesn’t provide the kind of benefit we want at the moment.
If people are collecting rewards to dump vs. collecting rewards to stake & boost that is an important comparison to make in how much rewards we should offer or even if we should offer rewards at all!
Hello humans!
Our 2nd 6-month period of GIVpower staking incentives are about to run dry.
Current program ends: May 14, 2024
Request: Top up staking incentives on Optimism & Gnosis Chain (with rewards earmarked for future chain integrations) for 6 more months (until October 29, 2024)
Request amount: 8,500,000 GIV
From: “GIVmatching” initial allocation (token distro)
GIVpower is the primary source of demand for the GIV token as we built towards gurves, and this utility and corresponding incentives is a core part of our current GIVeconomy marketing efforts.
We recently won a grant to bring the GIVeconomy, including GIVpower, to Polygon ZKEVM and are seeking grants from other networks & chains to do the same for them. It’s important to maintain our system to satisfy our partners’ expecations.
Users have locked their GIV tokens in GIVpower expecting incentives and multipliers for periods between 2 weeks & 1 year. If we eventually want to hault or scale down GIVpower, it will require some forethought & planning.
GIV staking incentives, at least until the GIVstream runs our in December 2026 kind of act as a balance to the growing circulating supply, and encourages our community to keep their GIV.
To date, 32,500,000 GIV has been used for GIVpower incentives - this came from the at-launch allocation (20mil GIV) for GIVpower, the (otherwise not needed) 10mil allocation for multichain Giveth TRACE, and 2.5mil of the 20mil allocated for “GIVmatching”. I think we can consider this additional allocation to come from that remaining 17.5mil “GIVmatching” portion of the initial distribution.
The amount of GIV staked over time has been increasing effectively since launch. You can see these beautifully graphed GIV staking amounts on this lovely dashboard that @amin is working on. Here’s my favourite pic, showing GIV staking amounts on both Gnosis & Optimism combined, all time.
I used this data to effectively plot a line to represent the rate of increase of staked GIV over the last 6 months, and use that as a projection to estimate GIV staking amounts into the next 6 months. This was done, similarly to all the previous times we did it in this magic spreadsheet on the GIVpower Apr '24 tab - Thanks @Griff his work on this!
Also, since the last round, @mitch did some incredible work using dune to get information about what % of the rewards we are giving out is getting sold here. The result was that about 31% of GIV rewards (excluding our 2 top holders) going out has been been sold - keep in mind this includes GIVbacks. General community sentiment is that more GIV holders are not really in it because of the yield, but because of alignment with the community… and in general, yield farmers are often yield dumpers.
This, for the GIVeconomy WG in our chats around it, is enough justification to make our incentives a little more conservative. Aiming for an average APR of 12.75%.
Currently, we are using 25% of last round’s incentives on Optimism, and 75% on Gnosis Chain. Our stakers exist as 21% on OP, and 79% on Gnosis.
Favouring rewarding Gnosis has made sense so far because:
I propose we allocate 50% of the new rewards to Optimism & 50% to Gnosis, here’s why:
I also think we should consider adjusting our GIVbacks program to give most GIV rewards our on Optimism (except for Gnosis Chain donations), and more broadly work towards a migration (but that’s topic for another forum post).
We plan to integrate Polygon ZKEVM during this 6 month period, and if that happens, we’ll need to move 10% fo the rewards there. In this case the proposed split would be 45/45/10 (gno/op/zkevm). If we add anotion chain, we’ll take equally form gnosis & optimism again, i.e. 40/40/10/10 (gno/op/zkevm/new).
Our current incentives program runs out on May 14, and we’ll need a bit of time in the days before to execute on what is agreed upon here.
I’ll leave this post up for a short advice process, until Tuesday April 16, and then will move it to a snapshot for final approval.
Thanks for sharing this @karmaticacid!
The 4 reasons for extending that you laid out are clear and easy to understand. I support this proposal and especially agree with point 3 - we should have more discussions and plan further ahead if we do want to scale down GIVpower.
I’ll be voting yes if/when this proposal goes to Snapshot 
Looks great! I would consider starting to pull rewards from the GIVgarden. That bucket is soooo big, and not allocated to anything yet.
Yes I think that’s likely where we have to take it from… From our token launch allocations, we ended up pulling a lot of GIV from the rGIV bucket to pay salaries throughout this time, so I think that’s where the GIV is
Hey everyone - please cast your vote on this proposal in Snapshot:
https://snapshot.org/#/giv.eth/proposal/0x29c6bacb63be7d1b20404c4dce948c3de724cb690feedfe6f16b7828cc8ce271
Hey folks! This vote passed, and everything is in place to continue the rewards! I made a mistake initially when looking at this, the current rewards actually end May 14 (not April 30) - I just edited the prior post so that’s all clear.
So the new rewards will run from May 14 to Nov 26, 2024 (with the final notify rewad on Nov 12, 2024).
This issue shows the notify reward amounts, and we also set everything else up so the rewards continue seamlessly.
Praise to @mitch @amin & @griff for all their support making this happen!
