This proposal is intended to retroactively reward development contributors to the NFTX Subgraphs with a one-off grant, paid in $NFTX tokens from the DAO treasury. After this one-off grant reward, no further retroactive grants are to be expected apart from highly exceptional scenarios.
Quantumly has been an active member of the discord and the governance calls over the past 12 months and has been keen to help with the ongoing development of the product and protocol.
NFTX wanted to provide a tool for projects to create snapshots of token holders (vToken, vTokenWeth, xToken, xTokenWeth) which requried a new subgraph. The subgraph now powers both that tool as well as the dropdown of token holdings against the connected wallet.
NFTX also required 721 and 1155 subgraphs for alternative chains, specifically Arbitrum. Quantumly created and deployed these subgraphs (along with additional chains we may use in the future).
Passing this vote, the DAO signals that we are highly appreciative of pro-active contributors that create value for the NFTX ecosystem, strengthening our position as a community-owned & governed project.
As this vote also signals a retroactive reward is a one-off event, it also shows the need for a well-thought-out Community Bounty program to sustain future growth of the contributor squad(s)/individuals that want to be rewarded working on NFTX without taking a core position due to other obligations. If this vote passes, a community bounty program will be considered at a later stage of NFTXs’ lifecycle when targeted bounties are in need.
- By rewarding early contributors that have shown excessive commitments to the DAO without any expectation of being rewarded for their efforts, we signal that value is returned to those who create value for an open-org. We want to set this as a precedent for future open-orgs and contributors alike.
- Offering rewards in the form of $NFTX tokens to our early contributors provides them with the possibility to have more voting power on future governance proposals, aligning incentives better.
- The amounts proposed in one-off grants might unconsciously impact the follow-up program by comparing grants based on NFTX amounts rather than dollar-value. We should be aware that this one-off proposal should not be compared with future grants/bounties allocated to individuals and/or grants, which instead should be judged on a case-to-case basis.
We feel the following contributors*, going by their Discord user name, have left such a significant positive impact on the DAO in its early days, that it should be rewarded through a grant:
In order to execute this retroactive grant, we require 20 $NFTX to be spent from the NFTX DAO treasury upon acceptance of each individual contributor.
Contributors retain the personal right to deny receiving a grant for any (undisclosed) reason, in which case the $NFTX will remain in the treasury.
- Discord: https://discord.gg/nftx
- Is the list of contributors accurate to what the community perceives as valuable to the DAO. Are we missing names on the list?
- Are the rewards in line with grant expectations (too high, too low)?
- Yes, award 20 NFTX retroactive grant