Q1 2023 Vesting is ready for review! This is for contributors active consistently from October 1st 2020 through until April 1st 2023. (If you were on a trial period during Q1 2023, January - April, you are not eligible for this distribution, but another is coming up in a few months so stick around!)
Amounts have been calculated using the approved method. Where it wasn’t clear I used my best discretion based off of praise data, eligible nrGIV distributions (even if they didn’t claim), role proposal information (or lack thereof) and feedback given in this post.
I would also propose a slight change on our calculation method. To explain a bit further, we have two variables:
Hours worked Factor - This is a multiplication factor that we can manipulate to say how much we value the amount of hours people work monthly for Giveth.
nrGIV Factor - This is a multiplication factor that looks at how many nrGIV distributions you we’re eligible for. We can manipulate this to adjust how much we value how long someone has been working for Giveth.
I would like to reduce the nrGIV factor from 0.8 down to 0.7. This will give a slightly increased vesting amount to people who regularly work a lot of hours for Giveth and a slightly decreased amount for people who have been around for a while but don’t work so much for Giveth.
Check for a poll at the bottom of this post and let me know if you approve this change.
- Future Rewards Program Funding - 10%
- Total Vesting withheld - 16.32%*
- Vesting Distributed - 73.68%*
- Max variance (current contributor vs. future contributor schedule) - 20%
- nrGIV Factor - 0.7 CHANGED FROM 0.8 → 0.7
- Hours worked factor - 1
- 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
*We withhold a certain percentage of the total amount available of GIV per vesting round based on the amount of contributors, this is to prevent over distribution of GIV. The GIV not distributed is held in the token distro and will be available for future contributor reward programs.
The total amount of vesting to be distributed is 5,040,004.16 GIV among contributors. Here’s the breakdown of amounts to each recipient**:
|Name||Amount in GIV|
**These amounts will be subject to the GIVstream meaning you will be able to claim ~34% immediately and the rest will be added to your GIVstream.
GIV respresents your gateway into community decision making, the more GIV, the more voting power you have in our governance tools such as the GIVgarden, Snapshot, Tokenlog and now GIVpower. Put thought into how you might use this GIV being vested to you.
I used the vesting simulator spreadsheet that @cotabe and myself collaborated on. Please review this section that your hours worked tier, (based on role proposals or absence of), your ETH Address(taken from your nrGIV address), and amount of previously eligible nrGIV distributions are correct.
When we launched the GIVeconomy at Christmas 2021 we set a vesting amount for the present team at the time of launch. These became defined as
Current Contributors (horrible naming). They were to have a fixed amount of vesting quarterly for the next 2.5 years. As we continued to grow the Current contributor vesting amounts vs. the Future Contributor (anyone that joined the team post-GIVeconomy launch) the amounts began to be a bit skewed. When we built out the final version of vesting calculations we decided if there was a varaicne greater than X % (currently 20%) we would switch to calculate them using the same method as Future Contributors to keep things fair and consistent.
On the sheet labelled
Current or Future we can see the proposed future contributor distribution against what the “current contributors” would normally have received, any
difference % greater than 20% is assigned the future contributor amount according to the
Max Variance parameter.
Check on the sheet Q1 2023 Final that I have your correct address for distribution.
After minimum advice process has been met I will move forward with creating the scripts to allocate the vested tokens to your GIVstreams!