diff --git a/inbox/archive/2024-05-30-futardio-proposal-drift-futarchy-proposal-welcome-the-futarchs.md b/inbox/archive/2024-05-30-futardio-proposal-drift-futarchy-proposal-welcome-the-futarchs.md new file mode 100644 index 00000000..6feee935 --- /dev/null +++ b/inbox/archive/2024-05-30-futardio-proposal-drift-futarchy-proposal-welcome-the-futarchs.md @@ -0,0 +1,109 @@ +--- +type: source +title: "Futardio: Drift Futarchy Proposal - Welcome the Futarchs" +author: "futard.io" +url: "https://www.futard.io/proposal/9jAnAupCdPQCFvuAMr5ZkmxDdEKqsneurgvUnx7Az9zS" +date: 2024-05-30 +domain: internet-finance +format: data +status: unprocessed +tags: [futardio, metadao, futarchy, solana, governance] +event_type: proposal +--- + +## Proposal Details +- Project: Drift +- Proposal: Drift Futarchy Proposal - Welcome the Futarchs +- Status: Passed +- Created: 2024-05-30 +- URL: https://www.futard.io/proposal/9jAnAupCdPQCFvuAMr5ZkmxDdEKqsneurgvUnx7Az9zS +- Description: This proposal is meant to signal rewards for strong forecasters in futarchic markets. + +## Summary + +### 🎯 Key Points +This proposal requests **50,000 DRIFT** to incentivize participation in Drift Futarchy by rewarding early participants and encouraging the formulation of future proposals. + +### 📊 Impact Analysis +#### 👥 Stakeholder Impact +MetaDAO participants will receive retroactive rewards based on their engagement, promoting active involvement in the community. + +#### 📈 Upside Potential +The initiative could enhance proposal quality and community engagement within Drift Futarchy, fostering a more dynamic ecosystem. + +#### 📉 Risk Factors +There is a risk of misallocation of funds or insufficient participation in future proposals, potentially undermining the intended incentives and program effectiveness. + +## Content + +## Overview + +This proposal requests **50,000 DRIFT** to carry out an early Drift Futarchy incentive program (max of 10 proposals / 3 months). + +This proposal is meant to signal rewards for strong forecasters in futarchic markets by: +- Rewarding early and active participants of MetaDAO with tokens to participate in Drift Futarchy (via the ["endowment effect"](https://en.wikipedia.org/wiki/Endowment_effect)) +- Incentivizing future well-formulated proposals and activity for Drift Futarchy + +This proposal's outline is fulfilled over months by the executor group, acting as a 2/3 multisig, defined below. + + +## Implementation + +### Retroactive Reward: + +Using the following dune dashboard data as reference: https://dune.com/metadaohogs/themetadao (with May 19th, 2024 UTC as a cutoff date) +- [METADAO activity](https://gist.github.com/0xbigz/3ddbe2a21e721326d151ac957f96da20) +- [META token holdings](https://gist.github.com/0xbigz/f461ed8accc6f86181d3e9a2c164f810) + +Among those who interacted with metadao's conditional vaults on at least 5 occassions over more period of 30 days, will recieve a retroactive reward as follows: + +- < 1 META, 100 DRIFT +- \>= 1 META, 200 DRIFT +- \>= 10 META, 400 DRIFT + +This [code](https://gist.github.com/0xbigz/a67d75f138c1c656353ab034936108fe) produces the following list of 32 MetaDAO participants who are qualified: +https://gist.github.com/0xbigz/056d3f7780532ffa5662410bc49f7215 + +**(9,600 DRIFT)** + +Additionally, all MetaDAO AMM swapers interacters https://dune.com/queries/3782545 who aren't included above should split remaining. + +crude snapshot: https://gist.github.com/0xbigz/adb2020af9ef0420b9026514bcb82eab + +**(2,400 DRIFT)** + +--- + +### Future Incentive: +*The following applies to the lengthlier of next 10 proposals or 3 month time frame* + +Additionally, excluding this instance, passing proposal that are honored by security council can earn up to 5000 DRIFT for the proposer(s), each claimable after 3 months after. +(*if successful proposals exceed two, executor group can decide top N proposals to split*) +**(10,000 DRIFT)** + + +For accounts sufficiently active during the period, a pool of 20,000 DRIFT will be split and claimable after 3 months. To filter for non organic activity, the exact criteria for this shall be finalized by the execution group. +**(25,000 DRIFT)** + +--- + +### Execution Group: + +A 2/3 multisig to escrow and distribute funds based on outline. After successful completion of this proposal, they can distribute their allocation as they see fit. + +In the event of uncertainty or excess budget, funds shall be returned to originating wallet or Drift Futarchy DAO treasury. +**(3,000 DRIFT)** + +- [metaprophet](https://x.com/metaproph3t) +- [Sumatt](https://x.com/quantrarianism) +- [Lmvdzande](https://x.com/Lmvdzande) + +## Raw Data + +- Proposal account: `9jAnAupCdPQCFvuAMr5ZkmxDdEKqsneurgvUnx7Az9zS` +- Proposal number: 1 +- DAO account: `5vVCYQHPd8o3pGejYWzKZtnUSdLjXzDZcjZQxiFumXXx` +- Proposer: `HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz` +- Autocrat version: 0.3 +- Completed: 2024-06-02 +- Ended: 2024-06-02