Aavegotchi proposal co-creation support: @stedari, Thrax, @diddlypoo. @Mycaleum, @0xZFi, @Hefe, @zimteemo and many dozens of people who have been on our weekly Discord calls in the Aavegotchi server for over a month. → Thank you!
Link to Discord Forum: Discord
Aavegotchi DAO members provide extraordinary support to the DAO. They could provide even more - and better - support if they are thanked for all of their valuable DAO contributions with $GHST and an on-chain thank you note!
We propose a six-month Thank Aavegotchi pilot to thank (reward and recognize) valuable contributions to Aavegotchi DAO with $GHST + an on-chain thank you note. We’ll do it in a way that is automated, scalable, on-chain, and protects against bots and bad actors.
The impact of rewarding Aavegotchi DAO members for your value-creating DAO contributions should be greater efficiency, utility, and value for Aavegotchi DAO as well as more equitable shared ownership in our community.
We are deeply aligned with Aavegotchi’s work to enable true asset ownership for gamers at the protocol level. The excitement of this work is palpable in every community event and call we’ve been a part of since the beginning.
To continue pushing this work forward, we must incentivize valuable contributions across our DAO in a way that is automated, scalable, on-chain (transparent), and protects against bots and bad actors.
While Thank Aavegotchi can automate limitless valuable DAO activity, we propose to start by focusing on rewarding metaverse and governance activities most valued by the Aavegotchi DAO community - which we’ve served in weekly Aavegotchi DAO & ThriveCoin Discord conversations.
Sample contributions suggested by the community are included in the slide below:
To ensure we only reward valuable contributions, ThriveCoin - the tech powering Thank Aavegotchi - provides five layers of bot and bad actor protection:
- Granular community control over rewarded activities;
- System designed to incentivize concentration of activity within one account;
- System can flexibly shift validation criteria in alignment with community needs;
- Delayed review and reward states supporting additional layers of detection;
- Spectrum of oversight for reward verification.
ThriveCoin has been supporting Bankless DAO across two seasons. During this time, we have experienced broad adoption and support, and we have increased core user engagement across the DAO. Below are just a few examples:
- 182% seasonal increase in Bankless DAO members using ThriveCoin.
- 89% increase in recognized contributions made across Bankless DAO.
- 41% increase in contributions from top 50 Bankless DAO members.
We think about the team in two ways:
Thank Aavegotchi Advisory Board:
[The first board selection will occur after this proposal passes the sig-prop. Top contributors have expressed the desire to nominate themselves and/or others for the board positions.]
The Thank Aavegotchi board oversees Thank Aavegotchi - from choosing contributions rewarded to choosing reward amounts. Their job is to look at data, get feedback from the community, and continuously iterate to better serve the community.
The board role requires 1 to 3 hours of work a week. Because this is work in support of the community, board members will be compensated at a TBD rate proposed and ratified in a community vote (e.g. they will not choose their own compensation).
Additionally, as suggested on our weekly Aavegotchi & ThriveCoin Discord community calls, board members will hold their roles for six months at a time, and one board member will be selected from each of the seven community pillars included in the slide above.
The ThriveCoin team will implement and maintain all the technology onboarding, implementation, and support. Additionally, we will hold community calls on the Aavegotchi Discord server in which we offer expertise, best practices, and feedback.
ThriveCoin’s tech supports ApeCoin DAO, Bankless DAO, and other top DAO communities. We are web3 natives, VC funded, and have been working with Aavegotchi members for months to ensure this proposal is aligned with community needs.
March and April: Feedback on Discord/Discourse.
Mid April: Snapshot Proposal passed.
May: Begin rewarding optimal contributions with fee revenue.
Monthly: Review contribution data; optimize contributions and rewards.
Monthly: Ongoing support, best practices, bot, bad actor, sybil protection.
Monthly: 10% increase invaluable metaverse and governance contributions.
Our goal with Thank Aavegotchi is to ensure that every community member is thanked for their valuable contributions to the DAO with $GHST and an on-chain thank you note. This should drive more efficiency, utility, and value in the community.
To measure the success of Thank Aavegotchi, baseline contribution data will be established and will be tracked throughout the initiative. We will provide monthly reports on our progress, and share successes and learning as we go.
During our Thank Aavegotchi pilot, we will reward value-creating contributions to the community across web3, web2, and IRL. Valuable contributions can exist across many dozens of platforms, including those on the slide below and many more!
We will use the ThriveCoin technology to do the following:
- Auto-validate contributions:
- Auto-validate activities across all relevant platforms
- Granular control over which activities to reward
- Platform-specific quality control filters to greatly reduce fraud risk
- Auto-thank contributors on-chain:
- Auto-record contributions on the Mumbai network, Polygon chain
- Auto-log in IPFS file (blockchain storage) referenced in on-chain record
- Auto-reward contributors with $GHST and charitable contributions:
- Contributions will occur within one Season of three months
- Contributors receive their $GHST rewards at the end of the Season
Thank Aavegotchi should result in an increase in valuable DAO contributions, as determined by community members.
Sustainability Goal + Benefits to Aavegotchi DAO:
Assuming the initiative is a success, we will help create a self-sustaining rewards system that can fund itself without continuous grants from the DAO-treasury. We are developing such a system with ApeCoin, Bankless DAO, and others, and we are excited to propose it after the first few successful months of our work together.
Risks + Potential Consequences:
Overall, Thank Aavegotchi is designed to be a low-risk way of exploring the impact of thanking Aavegotchi members for their valuable contributions to the DAO.
$GHST is only allocated upon performance - including performance milestones ThriveCoin must achieve. We understand the importance of good stewardship of treasury funds.
Overall Cost + Alternative Paths:
The cost for the Thank Aavegotchi pilot is up to 18,000 $GHST a month for 6 months.
The cost is entirely performance-based.
There is enormous upside if we can drive greater value for the DAO.
There is near-zero financial risk.
- 0 to start. 100% performance-based. Rewards are distributed when valuable contributions are made.
- Up to 15,000 $GHST a month, on average, distributed back to community members who make valuable contributions.
- Up to 3,000 $GHST a month, on average, distributed to ThriveCoin for milestones achievement. The cost includes all tech, white-labeling, integrations, 24/7 support, and extensive customization.
- Before successful completion of the pilot, a plan will be submitted to the community to ensure sustainability of Thank Aavegotchi going forward.
** Alternative: the same concept, structure, and cost above, but using Alchemica tokens as the rewards in addition to $GHST. We will coordinate with the community to request community-desired amounts in $FUD, $FOMO, $ALPHA, $KEK and $GLTR.
Tech provision milestones:
- Launch Thank Aavegotchi within one month of grant!
- 20+ auto-validated, auto-rewarded ways to contribute at launch.
- 50+ auto-validated, auto-rewarded ways to contribute three months after launch.
- 75+ auto-validated, auto-rewarded ways to contribute six months after launch.
- 99% uptime of Thank Aavegotchi webpage and supporting services.
Thank Aavegotchi allows Aavegotchi DAO members to be thanked for your valuable contributions to the DAO. The impact should be more excitement, as well as more efficiency, utility, and value being created in our DAO.
This pilot is a performance-based grant. It uses ~0.1% of the Aavegotchi DAO treasury and it is entirely guided by DAO members. It has the potential to make an enormous impact for the DAO with almost zero downside.
Snapshot Signaling Proposal Time: 7 Days
Current USDC Equivalent in $GHST: $114,480. with 80% allocated back to the Aavegotchi DAO community.
- Thank Aavegotchi Advisory Board Multisig: 86,400 GHST or USDC equivalent in Alchemica (If Path B) allocated over 6 months to:
- ThriveCoin Support Multisig: 21,600 GHST or USDC equivalent in Alchemica (If Path B) allocated after reaching Thrive’s Tech Provision Milestones to:
PS we already designed the Thank Aavegotchi community page. We’re pretty excited about it. Here’s a sneak peak :