Profile of fumbles in Rari Foundation
Posts by fumbles
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Website redesign
by fumbles - No Role
Posted on: Aug. 23, 2023, 11:43 a.m.
Content: Appreciate this BC, passed along to the Rarible team
Likes: 1
Replies: 0
No replies yet.
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[REVISED] RRC-11: On-Chain Protocol Governance & Security Council
by fumbles - No Role
Posted on: Aug. 16, 2023, 2:29 p.m.
Content: RRC- 11 : ON-CHAIN PROTOCOL GOVERNANCE AND SECURITY COUNCIL
The Diagrams will be added for Tally submission. This draft incorporates the DAO feedback on the initial version of RRC- 11 .
Submitted by: Fumbles
Abstract
This RRC- 11 proposes to establish a process by which the RARI DAO will be able to propose, vote on and execute updates and changes to the Rarible Protocol’s core contracts directly on-chain via self-executing actions. This RRC- 11 also proposes to implement a committee consisting of a DAO-appointed 3 -member multi-sig (“Security Council”) which will have the ability to perform emergency and non-emergency actions such as urgent upgrades, minor, routine maintenance, to the Rarible Protocol, ans stoping DAO hack attempts.
Motivation
As part of the path to a more decentralized Rarible Protocol, the power to govern the Rarible Protocol contracts should be within the hands of the RARI DAO, which currently has direct on-chain governance authority over the RARI DAO treasury and is on the path to govern the Rarible Protocol. As such, there is a need for a mechanism to prevent governance attacks, in which an attacker acquires voting power through legitimate means (e.g. buying token on the open market) but uses that to manipulate votes to their own benefit - e.i. exploiting the DAO’s treasury or the Protocol via skewing governance or introducing Protocol vulnerabilities. The DAO needs a body with emergency veto and upgrade powers that will be able to step in to protect the DAO and its interests.
Rationale
By growing the robustness of the RARI DAO governance and mitigating governance attacks risks, the DAO will be able to fully adopt the Rarible Protocol and engage in activities to grow the Protocol’s ecosystem by onboarding new communities and expanding NFT use cases.
Key Terms (Optional)
N/A
Specifications
Current RARI DAO Governance:
The RRC Process as laid out in “Specifications” section of RRC- 0 2 shall apply to Rarible Protocol core contract updates and changes.
1 . Phase 1 : RRC Idea
1 . An RRC Idea must be submitted as a post in the [Forum](https://forum.rari.foundation), where it should gather feedback for a period of 7 days
2 . Phase 2 : RRC Draft
1 . After Phase 1 , the RRC Idea author must generate an RRC Draft with the required fields as laid out in RRC- 0 .
3 . Phase 3 : Live RRC
1 . Once an RRC Draft is ready, the RRC author (provided that they have at least 5 , 000 veRARI) must post it as a Live Draft on Tally, where it will undergo a 5 day voting period.
2 . The Live RRC must reach the quorum requirement dictated in RRC- 0 , and voting options are “in favor” and “against”. A Live RRC which meets the quorum requirement and receives more votes cast “in favor” than cast “against”, it shall be deemed an Accepted RRC.
4 . Phase 4 : Cooldown Period
1 . An Accepted RRC undergoes a 2 -day Cooldown Period, during which the Security Council and the Board of the RARI Foundation may each reject such Accepted RRC* if it would:
1 . Directly conflict with a proposal that is currently up for vote;
2 . Directly conflict with another proposal approved by the RARI DAO;
3 . Not include the required proposal terms as detailed in Phase 2 of the RRC Process;
4 . Compromise the Board’s fiduciary duties as they are owed to the RARI Foundation;
5 . Be in violation of the RARI Foundation’s bylaws or articles, any statutory requirements of Cayman Islands laws or the laws or regulations of any other applicable jurisdiction;
6 . Cause harm (including reputational harm) to the RARI Foundation (as determined in the Board’s sole discretion); and/or
7 . Cause the RARI Foundation to be in breach of any contracts, agreements or any other arrangements.
2 . * This RRC- 11 is proposing this update to Phase 4 of the RRC Process – that is, the Security Council as well as the director of the RARI Foundation, has the ability to reject an Accepted RRC during a Cooldown Period.
5 . Phase 5 : Implementation
Proposed Security Council:
This RRC- 11 establishes a 3 -member Security Council.
1 . In Phase 1 (immediately), the Security Council will be able to reject an Accepted RRC during the Cooldown Period should the proposal be malicious or exploitative to the DAO.
2 . In Phase 2 (after a period of 3 months), the Security Council will also be able to perform emergency actions in critical security scenarios (e.g., a hack, serious bugs, etc.) as well as perform minor routine maintenance of the Protocol contacts.
3 . After each action, the Security Council will publish a detailed report with the rationale for their actions and outline of the implementation details within a reasonable timeframe.
The initial members of the Security Council are nominated by the RARI Foundation and will serve a term of 12 months.
1 . Campbell Law, current Director of the Foundation; wallet address: 0 xd 9 C 3 EeD 65968443 F 8587 Bb 068 e 6530 A 48 dB 5 d 177
2 . Andrei Taraschuck, current delegate; wallet address: 0 x 25 Ad 94 C 7768108666 BfDB 6742 aB 66 b 109 CA 82946
3 . StableLab, professional delegates, represented by Mattew Stein; wallet address: Stablelab.eth
The Safe multisig wallet the Security Council will use to perform its function is: 0 xd 35 ec 9 F 67 Aa 082 Ae 666 be 1716 C 79291 f 1 f 6 e 4 E 0 a
Appointment and Removal
1 . The members of the Security Council will serve a term of 12 months. The future members of the council may be appointed via the RRC process or via an on-chain election process if the community decides to establish on-chain elections with a stand-alone proposal.
2 . The members of the Security Council must act upon the direction of the director of the RARI Foundation as well as the RARI token-holders pursuant to the RRC. Failure to act in accordance with directions from either the director of the RARI Foundation or the RRC Process constitutes a reason for an ad hoc removal of Security Council members. Such removal shall follow the RRC Process, and one member of the Security Council must remain in place.
3 . The number of members on the Security Council may also be expanded or reduced pursuant to the RRC Process, provided that (i) there must be at least 1 member on the Security Council and (ii) at least 1 member of the Security Council must be a director of the RARI Foundation.
Compensation
1 . Security Council members are entitled to compensation of 2 , 000 USDC per month.
Steps to Implement
Phase 1 :
Implement Security Council’s veto power in the Timelock contract: 0 x 6552 C 8 fb 228 f 7776 Fc 0 e 4056 AA 217 c 139 D 4 baDa 1
Phase 2 :
Encode Security Council’s upgrade powers to all governance contracts:
Governor: 0 x 6552 C 8 fb 228 f 7776 Fc 0 e 4056 AA 217 c 139 D 4 baDa 1
Token: 0 x 096 Bd 9 a 7 a 2 e 703670088 C 05035 e 23 c 7 a 9 F 428496
Timelock: 0 x 7 e 9 c 956 e 3 EFA 81 Ace 71905 Ff 0 dAEf 1 A 71 f 42 CBC 5
Encode Security Council’s upgrade powers to Protocol contracts along with implementing DAO governance over the Protocol.
Timeline
Phase 1 : immediately
Phase 2 : after 3 months of the first Security Council in place
Overall Cost
72 , 000 for the first year. Cost for the first 6 months was approved as part of the Rari Foundation’s H 2 ‘ 23 operational budget.
Likes: 7
Replies: 1
Replies:
- WinVerse: fumbles:
stoping DAO hack attempts.
Just to reiterate this, I believe one key function of the council will be to stop hack attempts. Emergency actions do need to be taken when such attempts occur and with the Security Council team in place, we are sure that if these attacks come, they will be well taken care of.
Totally in support of this proposal.
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RRC-11: On-Chain Protocol Governance and Security Council v1
by fumbles - No Role
Posted on: July 14, 2023, 5:11 p.m.
Content: RRC- 11 : ON-CHAIN PROTOCOL GOVERNANCE AND SECURITY COUNCIL
Submitted by: Fumbles
Abstract
This RRC- 11 proposes to establish a process by which the RARI DAO will be able to propose, vote on and execute updates and changes to the Rarible Protocol’s core contracts directly on-chain via self-executing actions. This RRC- 11 also proposes to implement a committee consisting of a DAO-appointed 3 -member multi-sig (“Security Council”) which will have the ability to perform emergency upgrades, as well as minor, routine maintenance, to the Rarible Protocol.
Motivation
As part of the path to a more decentralized Rarible Protocol, the power to govern the Rarible Protocol contracts should be within the hands of the RARI DAO, which currently has direct on-chain governance authority over the RARI DAO treasury.
Rationale
By growing the robustness of the RARI DAO governance, the DAO will be able to fully adopt the Rarible Protocol and grow its ecosystem by onboarding new communities and expanding NFT use cases.
Key Terms (Optional)
N/A
Specifications
RARI DAO Governance:
The RRC Process as laid out in “Specifications” section of RRC- 0 2 shall apply to Rarible Protocol core contract updates and changes.
1 . Phase 1 : RRC Idea
1 . An RRC Idea must be submitted as a post in the [Forum](https://forum.rari.foundation), where it should gather feedback for a period of 7 days
2 . Phase 2 : RRC Draft
1 . After Phase 1 , the RRC Idea author must generate an RRC Draft with the required fields as laid out in RRC- 0 .
3 . Phase 3 : Live RRC
1 . Once an RRC Draft is ready, the RRC author (provided that they have at least 5 , 000 veRARI) must post it as a Live Draft on Tally, where it will undergo a 5 day voting period.
2 . The Live RRC must reach the quorum requirement dictated in RRC- 0 , and voting options are “in favor” and “against”. A Live RRC which meets the quorum requirement and receives more votes cast “in favor” than cast “against”, it shall be deemed an Accepted RRC.
4 . Phase 4 : Cooldown Period
1 . An Accepted RRC undergoes a 2 -day Cooldown Period, during which the Security Council and the Board of the RARI Foundation may each reject such Accepted RRC* if it would:
1 . Directly conflict with a proposal that is currently up for vote;
2 . Directly conflict with another proposal approved by the RARI DAO;
3 . Not include the required proposal terms as detailed in Phase 2 of the RRC Process;
4 . Compromise the Board’s fiduciary duties as they are owed to the RARI Foundation;
5 . Be in violation of the RARI Foundation’s bylaws or articles, any statutory requirements of Cayman Islands laws or the laws or regulations of any other applicable jurisdiction;
6 . Cause harm (including reputational harm) to the RARI Foundation (as determined in the Board’s sole discretion); and/or
7 . Cause the RARI Foundation to be in breach of any contracts, agreements or any other arrangements.
2 . * This RRC- 11 is proposing this update to Phase 4 of the RRC Process – that is, the Security Council as well as the director of the RARI Foundation, has the ability to reject an Accepted RRC during a Cooldown Period.
5 . Phase 5 : Implementation
Security Council:
This RRC- 11 establishes a 3 -member Security Council, which will be able to reject an Accepted RRC during a Cooldown Period, but also perform emergency actions in critical security scenarios (e.g., a hack, serious bugs, etc.).
The initial members of the Security Council are as follows:
1 . Campbell Law;
2 . Andrei Taraschuck; and
3 . StableLab.
Appointment and Removal
1 . The members of the Security Council may be appointed and removed during a yearly review or at any time, pursuant to the RRC Process.
2 . The members of the Security Council must act upon the direction of the director of the RARI Foundation as well as the RARI token-holders pursuant to the RRC Process. [Failure to act in accordance with directions from either the director of the RARI Foundation or the RRC Process may result in suspension of ].
3 . The number of members on the Security Council may also be expanded or reduced pursuant to the RRC Process, provided that (i) there must be at least 1 member on the Security Council and (ii) at least 1 member of the Security Council must be a director of the RARI Foundation.
4 . Security Council members are entitled to compensation of 2 , 000 USDC per month if requested.
Steps to Implement
Update the RARI Foundation’s governing documents to refer to the Security Council and its authorities
Update the RARI DAO’s governor contract to add the Security Council’s powers, exercisable during the Cooldown Period
Timeline
Solution ready for implementation.
Overall Cost
72 , 000 for the first year. Cost to be approved as part of the Rari Foundation’s operational budget.
Likes: 1
Replies: 0
No replies yet.
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RRC-10: H2 2023 Budget
by fumbles - No Role
Posted on: July 14, 2023, 5:09 p.m.
Content:
RRC- 10 : H 2 2023 Rari Foundation Operational Budget
Submitted by: Fumbles
Abstract
This document proposes to allocate funds for the Rari Foundation operational budget for H 2 2023 ( 6 months) in the amount of 611 , 800 USDC. This budget will ensure the continuity of the Rari Foundation team and operations and reflects the focus areas as identified by the community.
Motivation
The Rari Foundation represents the Rari DAO in the world. As such, it sustains operational costs that allow the Foundation to function and to facilitate the DAO in reaching the goal of Building a decentralized NFT infrastructure that will power future NFT use cases.
The operational budget will allow the Foundation to source legal services, compensate key contributors, and promote Rari DAO’s mission in order to drive the adoption of the Rarible Protocol.
The assumption is that Rari DAO will be working with the most skilled and professional contractors on the market, and it is necessary for the Foundation’s success to be able to offer compensation in stable coins or fiat money instead of $RARI in order to be competitive.
Rationale
The Rari DAO identified key goals to be focusing on in the short, mid, and long term. A dedicated team is required to deliver on these goals and to ensure the continuity of operations.
The budget will enable the core team to facilitate the DAO in growing and maturing to the point of being able to take over the Rarible Protocol’s governance while laying the groundwork for growing Rarible Protocol’s ecosystem growth.
Key Terms
N/A
Specifications
The H 2 operational budget reflects growing DAO needs:
Improved governance (paid security council positions, a professional delegate)
Increased marketing demands (website redesign resources, more DAO/RF initiatives = more needs for promotional support, RF presence at industry events)
Improved compensation (pool for contributors rewards, $RARI vesting for the Foundation team)
Budget overview:
| 368 x 463 . 0919663208819664 × 836 82 . 5 KB
Specifics:
Foundation salaries
The Foundation team includes Foundation Lead (Jana Bertram), Community Lead (Fumbles), Project Management Lead (Fumbles), Marketing Lead (Xenia Vyazemskaya), Engineering Lead (Cristian Covalli), Business Development Lead (to be hired), and Accountant (to be hired).
The Foundation team headcount is 4 FT and 2 PT contributors.
Freelance copy and design resources are intended for website redesign, branding update, and creation of promotional materials.
DAO compensation
Contributor rewards are intended to compensate DAO community contributors in delivering on asks identified by the Foundation and DAO. E.g. content writing, events organizing, research, and business development.
Professional delegate services are compensation to StableLab, who commit to active voting participation, setting a leading example of how a delegate in RARI DAO should act, collaboratively aid proposal creation, contribute to community calls.
Security council seats are compensated at 2 , 000 USD per month per seat. The council consists of 3 members.
Vendor fees
Legal fees are incurred for legal counsel in the Cayman Islands and in the United States. The legal councils prepare contracts, review core proposals and advise the Director of the Foundation, the Foundation team and the DAO on any potential legal risks or implications.
Administration fees cover the Director of the Foundation and the Supervisor of the Foundation, both roles that are required for the set up of the Foundation under the Cayman law. The Director is ultimately responsible for the management and operation of the Foundation, in particular, approving and entering into contractual agreements on behalf of the Rari Foundation.
Marketing
The Foundation is mapping H 2 2023 marketing activities and foresees costs related to sponsorship, promotions, and gas reimbursements. Tentative plans foresee ETH Global NY and Devconnect in Istanbul.
Production costs related to print material, video, and or merchandise produced for presence at events and conferences.
The travel budget covers travel fare, accommodation and local expenses for conferences or events outside of city of residence.
Contingency
Legal contingency is intended for an instance where the legal council would need to significantly increase their hours e.g. in case of an unexpected urgent legal matter.
Miscellaneous covers small expenses such as office supplies, subscriptions and event tickets.
Notes:
The Director of the Foundation is responsible for the the budget. They may opt to delegate day to day budget management tasks to the Foundation team.
Budget spending shall be monitored by the Foundation’s appointed accountant.
Periodic budget spending reports shall be shared with the community quarterly, no later than 30 days after the end of the quarter. The community may request budget updates at any point. In such event, the Foundation shall present the budget status no later than in 15 working days.
If there are unspent funds at the end of the budget cycle, the Foundation may propose to keep the amount in an operational reserve. Otherwise, it shall be returned to DAO’s treasury within 90 days of the budget cycle’s end.
The Foundation team shall respect the budget allocations as specified in the subtotals. It is understood that variations may occur. However, transfers between the budget groups should not exceed 30 %. Budget reallocations larger than 30 % will require DAO approval.
Should $RARI price deviate from the assumed USDC conversation rate of 1 $RARI = 1 . 15 USDC, the Foundation shall either submit an additional proposal to request funds to cover the exchange loss or refund the excess funds to the Treasury.
Any spending exceeding the budgeted amount shall be approved by token holders separately.
Payments disbursement:
Contributors (Team) are to be paid once a month in USDC unless otherwise agreed in their contracts.
Legal and Administrative costs are to be paid upon receiving invoices from the Foundation service providers as per engagement letters or agreements with such entities.
Notes:
Contributors (Team) are to be paid once a month in USDC unless otherwise agreed in their contracts.
Legal and Administrative costs are to be paid upon receiving invoices from the Foundation service providers as per engagement letters or agreements with such entities.
All spending exceeding the budgeted amount shall be approved by token holders separately.
Should $RARI price deviate from the assumed USDC conversation rate of 1 $RARI = 1 . 15 USDC, the Foundation shall either submit an additional proposal to request funds to cover the exchange loss or refund the excess funds to the Treasury.
Steps to implement
Upon the budget approval, the full corresponding $RARI amount will be transferred to the Foundation’s operational wallet ( 0 x 2 a 83 d 2891 Ef 3 df 6967 E 3 C 2 e 9 b 69 cCc 7 aD 029736 B), the Foundation will convert it to USDC to reduce the exchange rate fluctuation risk and the exchanged amount wil be stored on the operational wallet 0 x 2 a 83 d 2891 Ef 3 df 6967 E 3 C 2 e 9 b 69 cCc 7 aD 029736 B. The Foundation may opt to halt conversion to USDC, should the exchange rate start falling below the desired conversion rate, and resume when the desired rate is met or if a conversion must be made in order to meet Foundation’s payment obligations.
Payments within the approved budget in accordance with signed contracts are to be made by the Foundation leadership, who will be responsible for the budget.
Steps for tally submission:
Action # 1
Transfer Tokens
Target Wallet Address: 0 x 2 a 83 d 2891 Ef 3 df 6967 E 3 C 2 e 9 b 69 cCc 7 aD 029736 B
Value:
choose RARI from dropdown
Value 521 , 740
Click “Add Action”
Likes: 1
Replies: 0
No replies yet.
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RRC-9: Rari DAO Delegate Launchpad Program
by fumbles - No Role
Posted on: June 8, 2023, 11:19 a.m.
Content: This document is an ongoing work-in-progress draft for the new Rari DAO Delegate Launchpad Program proposal. Please leave your feedback in this document by using the comments feature and, once posted there, on our forum on Discourse.
TLDR; The Foundation wants to create a framework for a Delegate Launchpad. The goal is to enable new delegates to contribute sooner in their journey by lightening the financial load. Throughout the duration of the launchpad period, the aim is for the delegation done by the Foundation to be replaced by delegation from community members.
RRC- 9 : Rari DAO delegate launchpad program
Abstract
This document proposes a Rari DAO delegate launchpad program, which is designed to attract new delegates and boost DAO participation with the ultimate goal of advancing the mission of building a decentralized NFT infrastructure that powers future NFT use cases.
The delegate launchpad program consists of the Rari Foundation delegating a fixed amount of veRARI for a fixed amount of time as long as applicable delegates met the required criteria and maintained an active DAO status for the duration of the delegation.
The suggested mechanism is based on ideas proposed by the community during strategic workshops held on May 18 and 25 and related feedback.
Motivation
The Rari DAO is the governing body of the Rari Foundation, which was established to help grow the NFT ecosystem with the Rarible protocol, uncovering new NFT use cases and broadening the horizon of the NFT technology application. As such, we believe the Rari DAO community can benefit from inviting new members with relevant skills and experiences who can engage in the discourse of decentralizing the NFT infrastructure and help us get there.
By empowering these new members with temporary delegations, we fast-track their active DAO participation and cultivate a vibrant community.
This program will be a pilot from which we will learn and improve on future initiatives designed to grow the DAO participation. We’re targeting to onboard 15 new delegates through this program during summer 2023 .
Rationale
The current DAO participation is low - both in terms of voting and discourse and in terms of proposal submissions. We’re seeking ways to jumpstart the DAO activity to get more traction on proposals and community discourse.
The Rari Foundation has just rolled out delegation incentives (as part of Delegation Week), which produced only moderate results. We need to look beyond delegation gas reduction. The delegate launchpad program will enable us to screen qualified applicants for the kind of skills, experience, and motivation the DAO can benefit from in the long run and, at the same time, elevate the new delegates within their communities.
Key Terms
$RARI - the official token ticker of the ERC- 20 token that governs Rarible Protocol ecosystem
veRARI - the locked $RARI that can be used for governance: voting and proposals submission
Lock Period - the time during which locked $RARI remains unavailable for transacting or trading
Delegation - The act of loaning veRARIi tokens, obtained by locking $RARI, to someone who will represent your interests in governance and voting on chain.
Delegate - A party that has the ability to vote on Rari governance proposals. Could be a veRARI token holder or someone to whom other $RARI token holders have delegated their veRARI and voting power.
Rari DAO - A decentralized autonomous organization committed to building the future of NFT infrastructure & NFT use cases. The DAO oversees the treasury and is on the path to govern the Rari protocol.
Specifications
Program recipients’ eligibility criteria
We’re seeking to attract applicants from the following professional areas.
[image]
During the application period, applicants must submit their application outlining their qualifications, motivation, area of DAO contribution, Tally profile, socials, and wallet address or ENS. They must also acknowledge the conditions and terms of the delegation. The Rari Foundation team shall review all the applications and, together with the community, select the final 15 recipients and 5 top choices for a waitlist.
Conditions of delegation
The Rari Foundation will delegate 2 , 000 veRARI to up to 15 delegates that meet the above criteria and have applied within the application period.
This program lasts for 6 months in total. During the first three months, the delegated amount will remain to be the total 2 , 000 veRARI, unless the recipient breaches the terms outlined below. During the second three months, the amount of delegated veRARI will linearly decrease to 0 . If the program recipients wish to maintain their delegate status, they can use this period to gather support and delegations from the DAO community.
Terms of delegation
The program recipients need to demonstrate a track of DAO participation: vote on at least 60 % of proposals (in any given 30 -day period), provide a rationale in the DAO’s discussion forum on voting decisions, and be, within reason, responsive to the community. If these criteria are not met or if the delegate demonstrates behavior at odds with the DAOs code of conduct, the foundation can revoke the delegation at any given moment.
In case the delegation is revoked, the Rari Foundation shall delegate to a candidate in the first position on the waitlist.
Program budget
The total program budget is 30 , 000 veRARI, which translates to 30 , 000 $RARI locked for a period of two years. We propose this budget is allocated from the Rari Foundation’s Treasury.
Timeline
As soon as the proposal is approved and executed, the Rari Foundation can promote the program and launch the enrollment period. Tentative schedule:
[image]
Steps to implement
Smart contract development
Funds distribution: From Treasury to the Contract. Contract to wallet.
Locking in veRARI.
Delegating funds to the addresses of the selected candidates.
Report to the community on the status of delegations.
Weekly monitoring of delegate activities to ensure adherence to terms.
Steps for tally submission:
Rari Foundation to put the proposal up for vote on June 12 .
Likes: 1
Replies: 0
No replies yet.
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Oamo Partnership Proposal
by fumbles - No Role
Posted on: April 24, 2023, 1:22 p.m.
Content: I think this could be really useful for the continual marketing efforts of the DAO
One thing it’s contingent upon is the participation of others to bolster the overall network but the launch partners that have been mentioned are very strong!
Additionally, the asking price here is quite fair in my opinion.
Likes: 2
Replies: 0
No replies yet.
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Proposal: A New ERC - Universal Asset Signing
by fumbles - No Role
Posted on: April 24, 2023, 1:16 p.m.
Content: I wanted to drop some of the commentaries from the call here!
Generally, all attendees were excited about this new ERC standard and helping to bring it to life. A potential concern was the horizontal reach and creating a network effect. If Rarible is the sole adopter of this standard it may be slow and challenging to find the market fit. So having some more folks on board, e.x. Manifold, would assist in pushing the narrative around this.
My personal question would just be if we feel that $ 50 k is fair for this work and project.
Likes: 0
Replies: 0
No likes yet.
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RRC-8: Retroactive Governance Airdrop
by fumbles - No Role
Posted on: April 17, 2023, 6:32 p.m.
Content: Abstract
This proposal introduces a retroactive $RARI airdrop for community members who actively participated in RARI Foundation governance in Q 4 2022 -Q 1 2023 .
Motivation
We recognize the skills, time, and effort that active community members put into co-creating and discussing proposals, and the current airdrop aims to express acknowledgment and gratitude from the RARI Foundation community and team.
Rationale
As stated in the motivation the reasoning for this airdrop is a thank you to those who’ve been most consistent and active in the Foundation. This acts as the first small step in a larger governance incentivization program we’d like to develop. To be eligible for the airdrop, the community member should meet the following conditions:
1 . Locked or delegated $RARI between 1 October 2022 - 1 March 2023
2 . Locked & voted
3 . Delegated & that delegate voted
4 . Received delegation & voting
We propose to distribute the equivalent of $ 2 . 5 k USD* in $RARI. Following the same conditions as the $RARI rewards, the airdropped tokens will be locked for 9 months with a 3 -month hard lock and a 6 -month linear unlock.
Airdrop eligibility formula:
Variables are relative to the Columns in the google sheet
You locked & Voted (D * J)
You delegated & they voted (M)
You received delegation & voted (C * J)
You locked & voted (fixed reward, min 5 Rari needed)
Prior to the airdrop, there was a snapshot taken where we scrape the on-chain actions of the Foundation members to determine the eligibility and exact claim for the airdrop. Doing this as a retroactive snapshot helps to discourage negative behavior patterns like reward farming.
Once the snapshot was taken the formula above was used to calculate the total amount of $Rari you will receive.
Steps to implement
Snapshot to be taken to determine eligibility
Run the eligibility formula based on snapshot
Transfer appropriate funds from treasury to corresponding wallets
Google sheet for formulas:
docs.google.com
RRC 8 Rari Stats 14
Sheet 1
Address,Total veRARI,Received veRARI,veRARI without delegated,Delegated veRARI,RARI Locked,Locks count,Delegated count,Delegations received,Votes count,Delegates votes count,Votes Weight Sum,Delegates Votes Weight Sum,I locked & voted,my...
**This proposal is currently a work in progress so updates will be made
Likes: 1
Replies: 0
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