Instadapp Community Growth Fund

Seb_EthMonk · July 4, 2021, 7:20pm

Summary

Set up a Community Growth Fund to be used by various contributors and allocate INST tokens to this fund.

Proposal

This proposal is submitted for the creation of a ‘Instadapp Community Growth Fund.’
This fund is to be shared among community members who make contributions to the community including one-time bounties.

Community Contributions
A contribution can be providing support, creating media, text or anything that helps propel forward the Instadapp Community. The fund can be used to help compensate community members who make on-going contributions through support or moderation as well as others who may provide a one time contribution like providing translation work.

Fund Allocation
The fund would allocate 10,000 INST/monthly for one year to be shared between the contributor group. Any unallocated INST is maintained in the Growth Fund for future members or bounties, or to adjust the distribution to market prices.

Community Fund
The community is open to create and allocate the funding for additional roles, or for one-off projects that benefit the community and require funding. If you would like to contribute via support or other work post on the forum and get recognized for the work you are contributing and ask the community to be included in the following allocation. Currently, we can find consensus in the forum and on Discord to who will receive funding each month. This distribution can be managed by the team to start, but should be managed by the community in the future.

Ongoing Development
The community should continue to have discussions around this fund and its uses. This is an initial structure and the community should modify or change this as necessary. (i.e update the distributions or request more funds from the DAO, utilize other distributions methods, etc)

Reason

These proposals utilize the Instadapp protocol’s community funding and begin allocating resources for continued protocol growth.

Result

1- Creates an Instadapp Community Growth Fund to be allocated and utilized by the community. This allocates 120,000 INST for the following year with 10,000 INST to be distributed monthly.

Next Steps
Let’s discuss continue this discussion on the forum and on Discord. We can create the initial contributor group and find some agreement on how we would distribute this. We can make any changes to the proposal and then submit a Snapshot vote to finalize and create this fund.

Vote on Snapshot

Status: Passed

Proposal on Snapshot

Vote on Atlas

Status: Passed

Proposal on Atlas

Seb_EthMonk · July 4, 2021, 7:32pm

I would like to start by suggesting a few names for community members that I think should be included in the initial contributor group:

Discord Mod: @Daa
Research:@CPix18
Translation Work: @dakeshi
WeChat Support: @Yunping Mu @alex-7

samyak · July 4, 2021, 9:56pm

I’m thinking to have the top 3 members of the community to be included every month - MEE6 - The Discord Bot

Taisuke
@Daa
@miscao

Update:

Also to have active community members of Twitter:

Update 2:

These funds could also be used to incentivize development for new modules and connectors.

miscao · July 4, 2021, 11:02pm

This is a great way to incentivize community members to join Instadapp and stay active. Big shout out to the team for proposing this.

Maybe once the governance becomes more established and we get more proposals under our belt, the community could include users who contribute to governance in some way. Just thinking out loud here.

Pcapital · July 5, 2021, 12:04am

1 great recommendation. This is a must for DEFI projects to promote community. I like your suggestion

Daa · July 5, 2021, 2:54am

Thank you for the good proposal to encourage a community!
Please let me add a reward for this forum. Administrator can check the badge for a contributor and it will be a good measurement.

Doo_StableLab · July 5, 2021, 3:22am

I agree that there should be a budget to promote the growth but in terms of active discord participants, I afraid that might decrease quality discussions. In fact, many discussed actively on discord even before the incentive, but with incentive, we might see bounty hunters flooding the room to get the reward.

In terms of Twitter, does the team have a separate agreement with such influencers? What’s the criteria for selecting them?

Doo_StableLab · July 5, 2021, 3:26am

In addition, @Daa is proposed to get a reward for Discord Mod but also for active Discord member of the group. As Daa is a Discord Mod, it’s expected that Daa will be active. This is double usage of the resource and believe it’s better to only have reward for Discord Mod for Daa.

samyak · July 5, 2021, 9:14am

Agreed with you! The distribution should be in terms of participation. We’ve been thinking around incentivize users use mee6.xyz bot according to users experience. Using which we can distribute the tokens to users every month but would need a better system setup for it.

This is something I think which will incentivize each user according to the efforts they really put in on a regular basis.

Pcapital · July 5, 2021, 10:56am

good idea. I think there will be a lot of bots, bounty hunting groups will spam discord continuously. quite tired

miscao · July 5, 2021, 11:22am

Agreed that this could invite non-constructive activity, however it is just a start. In the future having a more sophisticated setup as @samyak stated will help reward quality contributors. An example system can be found here - however it still has its short comings e.g. depending on humans to provide consistent objective feedback.

I also think that bots and spammers will be weeded out by the active mods we have today and as the community grows, the user base becomes stronger easier to maintain (the quality content).

A more sophisticated setup will also ensure we are inclusive of newer active users that are building their reputation.

taisuke_hory · July 5, 2021, 2:26pm

Good idea. I think Instadapp team is more focusing on protocol development and communication than marketing things.
So I believe that building an environment which anyone can propose and execute something for the community is important. I’ve hosted an online meetup which explain how to use Instadapp and I think community members can propose to allocate some funds for this kind of activities with detail plan before it’s held from next time. We still need to discuss the criteria though.

samyak · July 5, 2021, 2:57pm

Hey @taisuke_hory! I attended this video for a short time. Really liked you educating the Japanese community and be active on our Japanese channel on Discord.

@Seb_EthMonk I think we should have incentivization models where we can save all the things that happened over the month on the community & development side to grow Instadapp and incentivize according to the value it provided.

Seb_EthMonk · July 5, 2021, 11:38pm

I think for Twitter and other ecosystem partners we should develop something different for that.

I definitely think what @taisuke_hory does with Yasashii DeFi would definitely be the types of things I had in mine for the growth fund! Let’s coordinate around a document where we can note what contributions people are doing each month

Neal · July 10, 2021, 4:25am

I joined the community today so there is plenty for me to learn but I just wanted to say how impressive this forum is and that incentivizing the community is definitely a good idea.

KooYH · July 13, 2021, 6:31am

I like @dakeshi
he has a very good understanding of Defi and the translation is also top-notch, so I also recommend him.