Over the past 2 years in the DeFi industry, there have been many evolutions for DAOs and the people who work dedicating their time to a shared mission with other members.
During these months, the Leagues’ contributors noticed less active participation in governance activities. There was less community engagement and voting participation, as analyzed in this report that includes data from all voting proposals, on-chain and off-chain.
We believe that, especially in market times such as we are experiencing, those who remain active in the DAO deserve a reward for their contribution, which adds value to a decentralized organization such as Idle.
From that analysis, we are proposing the “Idle Governance Mining” which is a program to reward the activity and contributions of users in the Idle DAO community and governance.
“Voting is the only legitimate form of governance decentralization” - Vitalik, August 2021
This initiative grew out of various reflections and conversations we had with Leagues and our community about incentivizing activity within Idle DAO governance, giving rewards to the contributors who are more active in the governance processes and add value to the community.
The assessment of participation will be calculated using a reputation score published on the Karma platform, which takes into consideration the activity of each individual DAO member in the community and governance.
Anyone interested in contributing within the community and Idle DAO will be eligible for governance mining according to the reputation score;
The reputation score on Karma is calculated by taking into count activity in
- Idle Governance Forum;
- Snapshot (IDLE and stkIDLE) voting;
- On-chain voting;
- Discord (soon)
The final computed scoring will sum all activities and currently follows this formula:
Forum proposals Initiated (x10)
Forum proposals Discussed (x2)
Forum Post Count + Forum Topic Count (x3)
Forum Likes Received (x0.5)
Forum Posts Read Count (x0.1)
Off-chain Vote (x3)
On-chain Vote (x5)
Delegated Vote (x0.1)
Discord → within the same month:
A. (x1) for each message
B. After reaching the first 50 messages, (x0.5) for each message
C. After reaching 100 messages, (x0.1) for each message
At the end of the month, the score will be reset, with users getting starting from (A).
Reputation scores will be updated every 30 days (selection is therefore based on a reputation score created during this timeframe);
The first 5 addresses with the highest reputation score will be rewarded (Leagues contributors or governance addresses won’t be counted in this selection); the Treasury League will publish the selection monthly in the governance forum.
The Treasury League reserves the right to be able to change the scoring algorithm (if there will be the need to adjust it after measuring the performance during the program);
If someone intends to game the scoring system, the Treasury League reserves the right to disqualify these users from rewards.
- 2k IDLE as a monthly budget distributed;
NFT badges minted minted via Karma NFT service (on Polygon) to reward contributions for specific activities, such as:
- Voted off-chain at least once via snapshot;
- Wrote at least one proposal in the governance forum;
- Voted on-chain at least once via Idle governance;
- Interacted the most in the governance forum;
- Voted the most in Idle DAO (on-chain + off-chain).
We are glad to launch this initiative and reward users based on their reputation earned through their contributions to the Idle DAO community and governance.
We are open to discussing further details or including missing activities, either in computed scoring as well as for NFTs minting.