NICE Token - Rewarding those who donate to Giveth

The Giveth Platform
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I took some time to think more concretely about all the options I laid out last week for the NICE token and I would like to propose an initial spec to get the ball rolling.

Minting

We add a new token and token-manager to the nrGIV DAO, allowing nrGIV holders to approve bi-weekly distributions of NICE. NICE is matched 1:1 per $1 of DAI or xDAI (more stables could be whitelisted later) and is minted for Nicers on Gnosis Chain. NICE is minted using the Transactions App, via the token manager.

Utility

We can always add more utility features later but here’s a couple feasible ideas to start with:

  • Buy Giveth Swag with NICE on Gnosis Chain
    • Swag Store needs to be redployed on Gnosis Chain
    • NICE token is only accepted token to buy swag (apart from gLOVE on rinkeby)
    • Each item costs 80 NICE, shipping is 50 NICE
  • Mint POAPS for Eligible Giveth Donors after each round
    • You need to have donated at least 50 DAI/xDAI across the bi-weekly round to receive the first POAP
    • Subsequent rounds will take the average value of eligible donations from the previous round +20 DAI/xDAI as the threshold to receive the POAP
  • NICE Farm when the GIV market cap goes over $6.5 Million ($GIV price at $0.20 at current Circulating Supply)

Marketing

Again, not my area of expertise but here’s some basic ideas to promote NICE:

  • Twitter promotion of top bi-weekly eligible donors (using profile name on Giveth or address(incentive to have a complete giveth profile!))
    • Announce at the same time new donation threshold to receive POAP
  • Banner on Giveth homepage promoting NICE token
  • Modal on Giveth project showing top 10 NICE holders (using profile info)

Purposes of Funding

I would like to propose a 50/50 split of donations received, going to these two initiatives:

  • Create GIV/DAI (or xDAI) liquidity
  • Buyback GIV from OTC Desk

We’ll calculate the donation values on both chains monthly or bi-monthly, depending on volume, and make the appropriate allocations.

It will be important to have a clear end result that could increase the GIV market cap, thus getting NICE holders closer to the market cap goal to initiate the NICE farming program.

WDYT?

  • Looks good!
  • No, I have comments or concerns
  • Abstain!

0 voters

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