NICE Token - Rewarding those who donate to Giveth

[karmaticacid]

hey @mitch! Awesome proposal, sorry it took me so long to dive into it.

Things I think are great:

• set up for biweekly distributions from nrGIV
• 1:1 ratio for donations in DAI or xDAI, option to whitelist later
• POAPs
• promotion banner on Givethio
• leaderboard modal on the giveth project

Things I want to discuss some more…

Swag Shop

@mitch

Buy Giveth Swag with NICE on Gnosis Chain

• Swag Store needs to be redeployed 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

Right now, purchase from the swag shop come out of Griff’s card… and he gets reimbursed in GIV from nrGIV - I don’t think touches the OTC desk (can you confirm @Griff or @freshelle ?). It’s not sustainable for us to depend so heavily on Griff as our USD sugar daddy.

As I proposed in the Austerity forum proposal, I think allowing people to buy swag with a credit card might be better for cutting the middle man. The way this proposal is setup… it’s like… we mint NICE for DAI donations to Giveth and then send people swag and printful charges USD Griff and then we reimburse him in GIV? It’s still messy and still means that somehow we are creating some system to sustain Giveth at Griff’s expense.

I’m not even sure we could deploy the shop so you can use Rinkeby to pay gLove & Gnosis to pay w/ NICE. We should probably discuss w/ Kristofer.

I think perhaps it would just be easier to keep NICE out of the swag shop and convert the swag shop to accept credit card payments, and then use that to cover the expenses on Griff’s card for swag bought via gLove, but open to further conversation.

NICE farm

@mitch

NICE Farm when the GIV market cap goes over $6.5 Million ($GIV price at $0.20 at current Circulating Supply)

Keep in mind that are market cap is also likely rise (provided the token doesn’t dump much) just with time because of the GIVstream, so it may be sooner than you think.

I’d like to do some analysis on how much GIV we want to provide for these staking incentives & if the extra sell pressure on GIV is really justified by the amount of stablecoin donations we get.

Twitter promo

@mitch

Twitter promotion of top bi-weekly eligible donors (using profile name on Giveth or address(incentive to have a complete giveth profile!))

What are you imagining? Something like this?

I don’t really know if donors would really want this. I will ask Stee - our twitter specialist - for any ideas/input on this part.

Use of Funds

@mitch

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

I love this idea, but I wonder if we should keep the end use of funds somewhat more open to be more flexible and use them where appropriate as-needed.

One more thing

Do you think that people would dump GIV for xDAI to get NICE? We have to consider this when choosing the params for setup, because that wouldn’t be so nice. that it actually negatively impacts the GIVeconomy…