MIP #12: Creating a Contributor Framework

Summary

With the recent NFT20 Vision post and the aim to start growing awareness of NFT20 more generally, it’s time to draw on the efforts of the community and reward those who contribute to the project. This post lays out how that will work, and how you can get involved.

Creating a Rewards Committee (RC)

In order to start rewarding contributors, we need a fair and transparent way to determine what initiatives have benefited NFT20, and who was responsible for them. With Adam and Jules leading from the front, it makes sense to leave them in place as ‘benevolent dictators’ to head up the RC and decide reward amounts for contributions from the community. I would get involved in an advisory role to get the process up and running and help with admin (have been on the Funding Council at Index Coop for 6 months now).

RC responsibilities will include:

  • Determining reward levels.
  • Keeping track and publicly sharing rewards in a google sheet on a monthly basis.
  • Responding to/arbitrating any disputes.
  • Distributing the rewards to contributors.

How rewards will be determined

First up, we’d expect contributions to fall into roughly 3 camps, look for ways to get involved as:

Marketers

Help market, spread awareness, educate, and onboard new users of our products - Examples include sharing data and updates on Twitter (look out for a specific program relating to this), producing educational content and FAQs, or creating/maintaining a Gitbook.

Bootstrappers

Help launch and bootstrap new NFT20 pools - this involves being an ambassador for NFT20 within the community of any new bootstrapped pool. For example, joining the project’s forum/Discord and posting more about the pool and NFT20 to spread awareness and represent NFT20 externally. The RabbitHole pathfinder program is a good example, see this proposal on AAVE.

Community

Help Jules and Adam in overall community management, develop new community initiatives and proposals - take on community organisation, keep an eye on the forum and develop standard processes for moving proposals forward. Eventually someone to join the rewards committee.

Secondly, the RC will gauge the contributions based on the following criteria:

  • How impactful is the work
  • Did it require much effort
  • What is the quality level
  • Is it aligned with the goals above

What is the process for submitting work

  1. Community members fill in a standard template sheet with work completed and links where applicable - this will be shared at the end of each month, starting late July.
  2. Sheets are compiled into a master table.
  3. RC determine the reward values in dollars
  4. ETH addresses are collected (don’t use an exchange address!)
  5. Rewards are sent directly to contributors, in stablecoins, at the start of the next month.

Specification

Create the Rewards Committee with @adam and @jules leading, with DarkForestCap as an advisor for the first 3 months.

Set up a process for contributors to submit their efforts, collate and share these in a public spreadsheet on a monthly basis.

Distribute rewards in the form of $DAI/USDC tokens on a monthly basis.

Check out the results on the Snapshot vote