Shout out to @AboveAverageJoe for the idea of this proposal. Joe has really championed our tipping culture and is unsurprisingly the most prolific tipper in BanklessDAO. Huge thanks also to @McKethanor for scraping the tip data and the network graph and @paulapivat for coordinating the analytics guild request. The data and visualizations would not be possible without this support.
The idea for this proposal is simple. Let’s keep the BANK flowing to incentivize participation at all levels and say thanks to contributors.
BanklessDAO initiated the Collab.Land tip bot early in Season0 and contributors lined up for the sweet social/utility/gov token by undertaking meaningful work. Whether for bounties or just recognition tips, contributions are instantly incentivized when our operations team, key influencers, and motivated stakeholders have plenty of BANK at the ready on layer 2.
Guilds have now received Season1 funding. However, it will take some time for this newly issued BANK to achieve velocity within the DAO; the best practices of translating these tokens into services funded or bounties paid in a credibly neutral way are still being determined for most guilds. Not to mention these funds are almost exclusively on layer 1; they will likely be issued retrospectively in batch, to save gas.
Thankfully, we have a culture of tipping to recognize individual efforts in real time, especially for the smaller contributions that all members benefit from (like taking notes in meetings, for example). Our DAO has a core group of active tippers which are always spreading the wealth (thanks to all who continue to be active tippers - you know who you are). I also believe it’s likely there are more who would like to be more active tippers but don’t have a big !balance on layer 2.
The proposal clearly aligns with our values. Tipping is an awesome part of the BanklessDAO culture, and we want to drive participation.
Does tipping need a boost? Let’s start with some statistics.
Stats on BanklessDAO Discord Collab.Land tips from June and July of 2021:
Number of transactions: 1,595
Number of unique tippers: 85
Number of unique recipients: 234
Total tips given: 417,854.7 BANK
Highest tip: 10,001 BANK
Lowest tip: 1 BANK
Average tip: 262 BANK
Median tip: 100 BANK
As you can see, tipping frequency and totals have been trending down in recent weeks. Let’s pump it up!
Let’s allocate 5,000 BANK from the general treasury to each level 2 contributor’s wallet, on layer 2, to be used for tipping.
Since gas is required to move BANK from mainnet to layer 2, there is an associated cost for members who would like to reload their balance available to the tip bot on layer 2. We want to increase the available market cap on layer 2 to increase tip velocity, and get more BANK onto layer 2 in a gas-efficient way. A small subsidy from the bDAO treasury to boost layer 2 balances should give a nice liquidity jolt to this tipping economy and get the BANK flowing!
Based on current contributor-level membership, this proposal is estimated to require a total allocation of 180,000 BANK (5000 BANK times approximately 36 members at level 2 and higher) from the treasury in order to be implemented.
A successful boost in the tipping economy would be expected to increase the tipping frequency (# of transactions per unit time) and potentially also grow the number of unique tippers. It is recommended that tip amounts in BANK not be considered a KPI at this stage, since many of the larger tips during the first 2 months were used for contributor remuneration for regular guild work, prior to the existence of guild funding.
If successful, this allocation could be repeated in future seasons to keep layer 2 balances topped up and the tip bot active.
This proposal will be live for a minimum of one week for voting and comments. If passed, the funds will be issued thereafter.
- Abstain, or more info needed (please explain in comments)