Q1 2022 Vesting and Beyond

DAO Ops
, , ,
9

Okay everyone,

I think I got it,

I been doin’ some brainin’ and I think I have a solid solution I would like to propose regarding the vesting distribution of GIV. :pie:

So… we’ll be sending out vesting distributions quarterly as described in:

https://forum.giveth.io/t/passed-vesting-params-for-the-current-contributors/127/8

and elaborated further in:

https://forum.giveth.io/t/q1-2022-vesting-and-beyond/525

We can expect vesting over 2.5 years, with distributions going out every 3 months, that’s 10 distributions total. We’ve already sent out 1 in the Q4 2021 Distribution meaning there are 9 left to go out, based on this we can expect an even 11.11% of the vesting funds to go out every 3 months.
Currently there is one active distribution, the current contributor’s bucket. Contributors in this bucket will receive a fixed amount of GIV every 3 months given they continue to contribute and receive quarterly nrGIV tokens. :money_with_wings:

This is the current contributor vesting spreadsheet:

Current Contributors Vesting Schedule - Google Tabellen

However we should take into account future contributors and reward them as well for as long as they consistently contribute to Giveth. For future contributors I would propose we split the distribution across 3 areas:

  • nrGIV and hours worked :clock1: - 70%
  • Praise rewards :pray: - 25%
  • SourceCred :bar_chart: - 5%

nrgiv and Hours Worked

For this, we’ll look at two data sources: the number of consecutive nrGIV distributions received and the amount of hours you worked according to your role proposal.

The number of consecutive nrGIV distributions you were minted nrGIV for will be factored in. If you weren’t eligible and didn’t receive nrGIV then this counter is reset to 0. Since the vesting implications of nrGIV weren’t explained from the start we will exceptionally allow eligible contributors to create votes to claim retroactive nrGIV (even they could request 1 nrGIV just as a placeholder) for a 1 month period. The final “score” amount from consecutive nrGIV distributions could have a multiplication factor applied to it if we would choose to value it more than hours worked.

The amount of hours currently working will be factored in as well. We will take the average weekly hours contributors report on their role proposal (making having a role proposal a requirement) and sort them into 5 tiers:

  • Tier 5 - GIVaholic :fire: = >40
  • Tier 4 - Full Time :factory_worker: = 30-40
  • Tier 3 -Part time :office_worker: = 18-30
  • Tier 2 - Part part time :handshake: = 7-18
  • Tier 1 - Casual :surfing_man: = 1-7 hours

We can also apply a multiplication factor to the tier number here should we want to value hours worked greater or lesser than nrGIV distros (suggest x1-1.5)

This will give a final score for each contributor, we divide each contributor’s score against the sum of all scores to find their share percentage, we apply this to the amount of GIV earmarked for this section to be distributed quarterly as part of the future contributor vesting.

For Q1, the pending distro will be a bit tricky but digging through hours billed from general magic and work agreements we can find some rough numbers and negotiate 1:1 with eligible contributors if need be. Subsequent distributions we should be able to rely on role proposals.

Praise Rewards

Originally we had a hope for a Coordinape style approach, but concerns were mentioned over the admin overhead and the social implications associated with everyone giving everyone else a “score” on a monthly basis. Why try to implement something new when we’ve been collecting TONS of subjective data on a weekly basis. Let’s work with the abundance of data we have already, praise! We can earmark 25% of the future contributors quarterly vesting amounts to go out as praise, potentially beginning retroactively from:

  • When “Giveth 2” development started
  • When praise started in Giveth
  • From the Retroactive GIVbacks start date (~Feb 20, 2021).

Whatever we decide, when we have the reward system installed (mid/end of Q3) we can begin retroactive quantifications using the GIV vested to send out.

SourceCred

This can be easily integrated with the reward system but will need a bit of work to bring back up to date, I wouldn’t want to weigh too much the data here so I suggest we give it a modest 5% of the distro, looking at active repos from the beginning of development of “Giveth 2”. I think this is an important step to capture all the activity generated by developers and governauts inside of GitHub and the Forum.

Current Contributor or Future Contributor?

We’ll have to reconcile any gross differences between the current contributor and future contributor buckets :balance_scale: . I would propose that if a current contributor would receive more or less than 10% than if they were calculated using the future contributor method then we would calculate that contributors vesting amount going forward as a future contributor. Current contributors will not receive rewards from Praise or SourceCred, however current contributors can also voluntarily opt into future contributor vesting, abandoning their current contributor vesting schedule. :raised_hands:

Things to decide :thinking:

Outside of changing the system fundamentally, we’ll have no shortage of things to debate, including:

  • Distribution percentages of future contributor vesting between:
    • consecutive nrGIV rounds and Hours Worked
    • Praise
    • SourceCred
  • Multiplication factor (if any) for Hours Worked vs. nrGIV rounds
  • Hours worked Tiers
  • Date of when to include retroactive Praise
  • Date of when to include active repos to SoureCred
  • Updating SourceCred weight configurations
  • Current contributor vs. future contributor vesting max variance %

FORK AND PLAY HERE

Looking forward to much advice and feedback! Let’s get this party started! :partying_face:

4 Likes