[Treasury] - $100,000 infusion request to form a Community Rewards Fund

Author: Ben

Summary

  • This proposal requests $100,000 from the CGDAO Treasury be allocated over 12 months to a Community Rewards Fund.

  • This allocation will supplement and boost the already existing funding infrastructure for community incentivization within the ChainGuardians ecosystem.

  • Eligible platforms for infusion include ChainGuardians NFT Mining, ChainGuardians RPG, ChainBunnies Survival Game, upcoming gaming products, and other areas.

  • Through the various platforms in the CG ecosystem this proposal will promote opportunities to earn for active, new, and contributing community members.

Motivation

This represents the CGDAO’s first Star Contract with high impact. Star Contract #1 proposes mechanisms to increase the earning potential within the ChainGuardians ecosystem. It gives CGG holders the opportunity to directly influence the CG ecosystem with their vote.

It is a necessity to keep current users engaged but attracting new users to the CG community requires extra incentivization, especially during these periods of low sentiment/activity. By boosting efforts around community rewards the team not only has more options to expand rewards for existing infrastructures but also strengthen current and upcoming product development pushes.

Specifications

Requested funds would be allocated from the DAO Treasury to a Community Rewards Fund once a month. The request of $100,000 allocation over 12 months puts the monthly allocation at $8333.33 per month. The funds will be swapped to stablecoins upon receiving. Exceptions can be made for cases where CGG would be a preferred method of reward. Ownership will be a multi-sig consisting of the Head of Marketing and Finance.

The Community Reward Fund will distribute rewards based on fixed and variable models.
This proposal calls for $5,000 per month towards consistent and expected reward infusions, representing a $60,000 fixed fund. The remaining $40,000 would be established in a variable fund - the only time-based parameter for the variable fund is the necessity for usage within the 12 months.

The fixed and variable fund model facilitates predictable reward infusions while simultaneously enabling the necessary flexibility for crucial promotional periods, increased rewards for releases, and other game product-related events.

The allocation of each fund will be at the discretion of the ChainGuardians team. For example, how the funds are used within the fixed fund may change every month; see the example hypotheticals below. This measure ensures fund allocation will best promote and align with new releases, upgrades, and updates to maximize the growth and exposure of the ChainGuardians ecosystem. Also funds may require distribution on other networks. Feedback and commentary on eligible rewards mechanisms will be reviewed.

Community Reward Fund updates and budgets for fixed and variable models will be presented on a monthly basis.

Community Benefit

Examples:

November | Fixed Fund

  • $2,000 NFT Mining
    Three equally-valued winning blocks per day. Eligible for Solo and Pool Mining.

  • $2,000 ChainBunnies Survival Game
    $1,000 Top Plays. $1,000 Weekly Leaderboards

  • $1,000 RPG
    $500 share your team event. $500 beat the stage event.

November | Variable Fund

  • No expenditure

December | Fixed Fund

  • $1,000 NFT Mining
    Two equally-valued winning blocks per day. Eligible for Solo and Pool Mining.

  • $1,000 ChainBunnies Survival Game
    $250 weekly leaderboards. $ 500-speed run. $250 montage contest.

  • $3,000 RPG
    $2,000 PvP tournament. $1,000 gameplay contest.

December | Variable Fund

  • Additional $10k allocated for RPG tournament feature

Voting Outcomes

  1. If passed, this proposal would allocate $100,000 worth of CGG from the DAO Treasury to a Community Reward Fund over a period of 12 months.

  2. If rejected, no reward infusion would occur and no formation of a Community Rewards Fund. The proposal would require another period for review before a revote.

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Suggestion from user Cryptomonk on discord:

“If a swap needs to be made at the beginning of any given month, and a ,say, $500 reward is given at the end of the month, and the price of CGG fluctuates wildly in those few weeks, then will the reward be calculated at the swap price, or at the current value when the contest winner is determined, or when the reward is delivered? That’s just one example. I think it’s important to be clear when submitting a proposal”

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