Teo
February 26, 2023, 5:15pm
27
hey @AllinCrypto – As analyzed by @BSBA_Bocconi , the Governance Mining program can be considered officially closed now with the last January distribution. Check out the post below for more detail about it.
Conclusions and Action Steps
Overall, we find that the Governance Mining Program did not have any convincing effects on governance activity. Coming back to the goals of the Program as defined earlier: 1. The Governance Mining Program did not meaningfully increase engagement within the existing community and 2. did not contribute to onboarding new members into the community.
Thus, the Governance Mining Program should be revised since we believe the token allocation may be better spent on other marketing activities that benefit the DAO at current market conditions, such as onboarding new users that want to maximize their yield. We believe that a more likely success scenario is the one where governance activity increases after an increase in usage of the protocol by new users as opposed to the reverse occurring. This may be because putting in the effort to participate in governance discussions does not produce any great short-term benefits (apart from Governance Mining rewards which are not very large) and long-term benefits are difficult to gauge. Such aspects, though, are best left for further discussion.
Regarding Twitter, or any other public communication from Idle DAO, there won’t be any mention of the Governance Mining program.
1 Like