I made some modifications to my spreadsheet above. The first thing is breaking down the $ value of praise distributions so we get a better idea of how much rewards would make sense to allocate to praise on a bi-weekly period. The second thing is adding a new mechanic to mitigate over distribution on the vesting schedule.
The new mechanic is to address the issue that while comparing a simulated list where 100% of the current contributors migrate to the future contributors list it could end up that some contributors would get anywhere from 2x to 20x what they normally would have received from current contributor vesting, this is due to the relatively small size of the contributor pool compared to the total amount of funds available (Q1 2022).
To mitigate this excessive amount of GIV sent out as vesting I would suggest that we keep the judged excess “sequestered” in the nrGIV, allowing us to keep some funds aside, for the moment, that we can allocate to bounty programs, including DeWork.
However, as our contributor pool grows we should hold back less GIV to vesting, in order to accomplish this I created a linear function so that for the greater number of contributors to receive vesting there are, the less amount of GIV we send to the nrGIV Treasury. The formula is:
nrGIVsequester% = -2.105263158(#OfContributors) + 90
Then our percent we allocate to nrGIV and Hours worked can be found by the remainder after taking the sum of all other allocations praise, sourcecred, nrGIV Sequester percents.
nrGIV&Hrs% = 1 - (praise% + sourcecred% + nrGIVsequester%)
I arrived at this by proposing this distribution to start (Q1 2022):
- Praise - 10%
- nrGIV Sequester - 50%
- nrGIV and Hours worked - 40%
this takes into account that if we had 0 eligible contributors we would still have 10% of the vesting amount going to Praise Rewards. Using this vesting schedule anyone on the current contributor list still stands to make at least as much as they were promised, and we wouldn’t see any negative shift until we have over 40 eligible contributors.
Please Fork and Play and ask questions if you need!
*(Also bear in mind the numbers for each contributor, such as nrGIV and Hours Worked, are just estimations!)
On SourceCred
Having discussed with @mateodaza in more depth about SourceCred I’m heavily inclined to cut it from scope, SourceCred the organization shut down about 3 months ago, this means their open-source software is no longer maintained. As we continue to use sourcecred it only threatens to become more buggy and give us more headaches the longer we keep using it. A lot of the current processes for setup and database maintenance are manual and would require a lot of bandwidth to bring back up to date and also to maintain as we have new contributors join Giveth. If somehow a SourceCred like solution appears or we find the dev bandwidth to hack our own solution then it could always be incorporated back into some sort of rewards calculation.
My Proposal Spec
Initial Vesting Distribution (Q1 2022):
- Praise - 10%
- SoureCred 0%
- nrGIV Sequester - 50%*
- nrGIV and Hours worked - 40%*
- Max variance (current contributor vs. future contributor schedule) - 20%
- nrGIV Factor - 0.8
- Hours worked factor - 1
- Retroactive Praise - from implementation (March 2021)
- Hours worked Tiers:
Hours Tier GIVaholic = 40+ 5 Full Time = 30-40 4 Part time = 18-30 3 Part part time = 7-18 2 Casual = 1-7 hours 1
*These two will vary according to the formula I defined above depending on how many eligible contributors we have.
What do you think about this spec for contributor vesting?
- YES! DAO it!
- No. I have comments, concerns or a better plan
- Abstain