Claiming Mainnet REP awards on Mainnet

REP distribution is important to grow DXdao and scale governance. According to DXdao’s compensation guidelines, contributors earn 0.1667% of the total REP amount. This has worked well and helped grow mainnet REP to 1.55m with a 25-30% inflation rate. Gas prices halted mainnet REP distribution to contributors as worker proposals and payments moved to xDai. This saved DXdao a lot in gas costs, but means that a lot of REP has been earned but not distributed. The mainnet REP distribution is important as we look to set up a DXdao base on Arbitrum.

Gas prices have come down (somewhat) and contributors can batch multiple REP awards in a proposal to save costs. Ally has been tracking mainnet REP awards that have not been issued and you can see a summary table here. Given worker proposals shifted over to xDai in February/March, many contributors have or are coming up on 3 months of earned but not distributed REP.

I don’t think we need another proposal to authorize these because the REP has already been earned, but I do think we can standardize these. Some things I was thinking:

  • Proposal title: Claim Mainnet REP for XXXX
  • Add the REP amounts listed in each of your proposals for a single REP award
  • Link to each of the xDai worker proposals
  • At least 3 months of unissued REP

This does not address non-workers, particularly the monthly REP boost and the Quarterly Discord REP awards. Should we allow for a similar process?

There are discussions about a more sustainable process in the long-term. In the future, DXdao will need a cheap and safe way to distribute REP if it hopes to scale and maintain decentralization.