In the original proposal, the Current Contributors distribution (4% of all tokens created) was given to everyone that is currently contributing upfront with only the stream acting as a sort of “Vesting”. Since then, some contributors have started contributing and some have stopped contributing… so Willy, Lauren and I went to update the distributions to reflect that in our recent hack sesh as it seems unfair for the contributors no longer supporting us to get the same reward, when other people who stay will not see any benefit for staying active (there is another proposal about that modification).
This is something we were able to do because we haven’t distributed the tokens yet… but its not something that we can do after the GIVdrop!
This got us thinking about a way to make the distribution to Current Contributors more fair, so I am proposing it here:
I would like to propose that only a portion of the Current Contributor distribution be allocated right away and the rest of the allocation be rewarded regularly by rGiv.
If the Contributor gets rGiv tokens, then they get the next installment of their allocation. If a contributor drops below the level of engagement required for the rGiv DAO to give rGiv tokens out then the contributor loses ALL future installments. The rGiv DAO decides if the contributor is contributing enough to continue to get installments.
It is also worth remembering, most current contributors are Past Contributors that have been paid via Giveth so they will get tokens from many buckets.
Let’s say we decide to give 20% of the tokens up front and the rest is split up evenly to be distributed every 3 months for 2.75 years (These 3 parameters should be voted on here).
Alice, an active Giveth contributor, gets allocated 100,000 GIV from the Current Contributors Bucket and 50,000 GIV from the Past Contributors bucket and 10,000 GIV from other buckets.
She will get 100% for the 50k and 10k allocations. 6k in the GIVdrop and 54k as the GIVstream. Of the 100k distribution, she would get 20%, so at Launch she would have 2+6 = 8k in the GIVdrop and 18+54 = 72k in the GIVstream.
Every 3 months that she works for Giveth she would get 80k/11 =7,272 GIV tokens allocated to her. This 7,272 GIV would be a mix of liquid tokens and streaming tokens based on the month Given to her. e.g. for the first distribution she would get 14.5% of the tokens liquid and 85.5% unlocked, for the 2nd distribution 19% would be liquid and 81% would be put in the stream. (this is how the stream works, every 3 months, 4.5% more of the stream is liquid).
If she decided to make an NFT start-up after working a year at Giveth and getting the original allocation and 4 follow up allocations, and the rGiv DAO decides not to give her any tokens in what would be her 5th distribution then she would only get 49,091 GIV out of her 100k. The other 50,909 GIV would be held by the rGiv DAO to decide what to do with.
If her NFT start up fails and she wants to come work at Giveth again, the rGiv DAO could decide to give her some allocation from the future contributors bucket eventually, but it would be a new allocation, her previous allocation is lost.
So i want to do this proposal in 2 parts… First gauge buy in on this idea, second fine tune the params:
- Advice process on the idea of doing this at all!
- Choosing the parameters. What % up front and how often should the rGiv DAO distribute it and for how many years should we distribute it?