Draft Proposal: XIP#5 Reward Early Developer Contributors With One-Off Retroactive Grant

Authors

ChopChop

Glossary

DAO
Grant

Summary

This proposal is intended to retroactively reward early development contributors to the NFTX DAO 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.

Rationale

As a relatively new open-org, our competitive lead is partially caused by all the value that self-motivated community contributors create for the DAO. This comes in all shapes and sizes, ranging from leading operational, development and/or product efforts. To keep leading and to signal we value our contributors dearly, we want to propose a one-off retroactive grant towards the most active contributors based on contributions.

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.

Effect

Opportunity

  • 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.

Risk

  • 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.

Specifications

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:

  • Owen
  • Vasa

*Other contributors that originally qualified for this list have since been acquired in a more formal position, as the Consumer Products squad (XIP#3).

Funding request - Yes - Implementation Requires Funding

In order to execute this retroactive grant, we require 100 $NFTX to be spent (50 per person) 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.

Communication

Proposed points of discussion.

  • Is the list of contributors accurate to what the community perceives as valuable to the DAO. Are we missing and/or having too many names on the list?
  • Are the rewards in line with grant expectations (too high, too low)?
Move forward with proposal
  • Yes
  • No

0 voters

6 Likes

Always supportive of rewarding active community members.

  • I trust the direct NFTX team to decide on the users who deserve the grant.
  • Grant value seems in line with other compensation given to other NFTX contributors.
  • A community bounty programme sounds like a great idea.
3 Likes

I’m 100% for this. Both @vasa and @owen have done amazing work on the dev side of things and been actively helpful in the community on Discord.

This sets a good precedent for ongoing contributions to the DAO.

1 Like

(This is Owen).

Thank you for setting this up, Chop!

In case people weren’t aware, here are the two main things I’ve done for dev which I think this grant would retroactively cover:

  • set up the backup site as an alternative for mint/redeeming nfts when our back-end kept dying.
  • led the initial design/coding to patch the createVault vulnerability, pushed the factory code to mainnet, and upgraded the NFTX tests to accommodate for these changes
7 Likes

Thanks for the generous grant :pray:

In case people are not aware of my contributions, I’m working on NFT swaps and loans that will help NFTX to become a more liquid market (and integrated with the NFT ecosystem).

6 Likes

100% support this, both Devs have been valuable contributors.