Reward milestones for our colony?

general
#1

I’d like to start talking about the milestones that we can use to trigger rewards payments for some of the grant funding that we’ve received.
We need to reach a consensus on:

  1. What the milestones are
  2. How much / what percentage of our reserve we should pay out for each milestone

We should aim to find a happy middleground between rewarding contributors for the work they’ve already done vs incentivizing ongoing contribution.

One thing to consider is that colony rewards are global. They can’t be triggered for individuals or small groups (at least, not without a coordinated, deliberate, and trustful effort), so we should aim to pick project level milestones that are relevant, rather than more granular milestones based on a small number of people’s work.

The first milestone that makes sense to me is the first PoC round. But I worry that might be too far off and people may start to lose interest if we don’t start distributing rewards sooner; everyone has bills to pay and other paying opportunities, so we need to make sure they can prioritize this work.

Any suggestions on a some more granular milestones between now and PoC?

#2

I don’t have any particular preference regarding rewards distribution, but setting the milestones would be useful. According to the blog post, our milestones are:

Round 0.0 – clr.fund and MACI contracts, using a whitelist of recipients and contributors
Round 0.1 – Add BrightID, remove contributor whitelist, keep recipient whitelist
Round 0.2 – Add recipient curation, remove recipient whitelist
Round 0.x – address any issues found in first three PoC rounds
Round 1 – All systems go, increase the funding in the matching pool!

I assume 0.0 will be a mainnet round, but before going to mainnet we should run at least one successful round on the testnet. I (optimistically) estimate that it could become possible in August.

If we agree on these milestones, we should cancel all tasks related to BrightID integration and create a contributor registry instead.

#3

Yeah, those aren’t really intended as reward distribution milestones. But they certainly could be a good start.

I agree that we should run at least one round on testnet before going to mainnet.

I also agree that we should de-prioritize BrightID integration in favour of a contributor whitelist for the time being.

#4

Take a look at the draft Milestones and Payouts document, here: https://docs.google.com/document/d/1jR3u-mvmX6jWf5OfbPUrY3O0bUH2aCeXCHt4bfaDEAU/edit?usp=sharing

Please comment in the doc or here on the forum. The sooner we can reach consensus about this, the closer we’ll be to receiving our initial payouts!

2 Likes
#5

A quick refresher on the colony reward distribution mechanism is probably in order here as well.

Rewards are only available to accounts that hold both tokens and reputation (which decays over time), and the amount claimable by each account depends on both token balance and reputation; it is derived from the geometric mean between the two and is relative to that of the other reputation and native token holders.

This means that someone with reputation and native tokens will be able to claim a share of every future reward distribution, not just the distribution immediately following their contributions. Although the relative amount that they can claim will decrease with each new distribution, assuming that others continue contributing.

So while the amount you receive from the first reward distribution will more than likely be less than the USD value of your contribution, assuming the project continues to receive funding, you should eventually reach or exceed parity with your contribution value.

#6

The document has been updated to reflect recent development. Milestones 5 & 6 were merged into one.