Mesa.eth - Incentivised trading campaign

Background

This is a proposal draft that will be submitted soon through Alchemy.
The purpose of this proposal is to signal support for the outlined framework for a Mesa.eth Incentivised trading campaign.
Please read and leave any thought in the comments below. Your feedback is invaluable.
If you liked it but don’t have anything to add, please press the <3 (like) button.

Gnosis grant - incentivising trading on Mesa

Gnosis has given the dxDAO 10k conditional token representing 10k GNO in case mesa.eth will achieve 20M$ of trading volume, three months from the launch date of 15.04.2020 4pm CET.

This is enabled by conditional tokens and a prediction market on omen.eth.
Address of the newly created Gnosis safe: https://gnosis-safe.io/app/#/safes/0xFB261dFaf0baf886C2FCf01e3A30d5F69f77408F/balances

Unfortunately the Safe nor Etherscan do currently display 1155 tokens but you can see the transaction hash here: https://etherscan.io/tx/0x208a5e7a1d8d55179a470c479261c731b382d61822d786c333e83d35faa0fb6c

Proposing a framework for a public incentivised trading campaign

The dxDAO has all the reasons in the world to promote the use of Mesa, one of it’s first and flagship products. With the newly proposed grant, the dxDAO can use the funds to create an incentivised framework for users to trade on Mesa. Adding REP to the incentive framework will serve the purpose of additional trading incentive as well as broadening the REP holder base.

  • 35% (3,500 GNO) AND 6%REP* - Trading competition

    • Reward will be distributed to traders by their relative trading volume (trader_volume/total_volume)

    • Capped at 200 GNO and 0.5% per address

    • Why it matters: In the short term, this will help the dxDAO to achieve the reward condition and build liquidity. Long term benefits are expanding dxDAO stakeholder base, and exposing users to mesa.eth.

    • Things to consider: we might need to evaluate volume and discount non-economical volume. There’s a need for an open tool to check volume per address and it’s relative share of total volume. The claim for reward will be made by submitting a proposal to the dao through Alchemy and attaching all relevant information. It is advised to create an example proposal to make things clear.

  • 50% (5,000 GNO) dxDAO Treasury

    • Available for any purpose the dao will see fit, including additional rewards and and/or campaign

    • Why it matters: Those funds will enable the DAO to continue development and foster the ecosystem around Mesa and other dxDAO products.

  • 15% (1,500 GNO) Distributed to REP holders

    • Distribute to REP holders relative to their REP stake % in reward for auditing the campaign rewards distribution proposals.

    • Why it matters: keeping stakeholders engaged and mitigating voter apathy is a great challenge. Hopefully this reward will keep the community engaged in the voting process.

    • Things to consider: Based on this http://deepdao.world/#/app/topLevel site, 7.4 is the average votes per proposal. Might be interesting to distribute this reward only if the average votes per competition proposal is >12.

  • 10,000 OWL AND 4%REP** - Promotion Budget

    • 20% - Purchasing the 10 best Mesa.eth meme NFTs

    • 80% – Rewarding best proposals who will demonstrate valueable promotion work (twitts, reddit posts, articles, videos, tutorials, podcasts, etc)

    • If not all rewards are distributed until the end of the campaign, the remaining OWL stay in the dxDAO treasury

    • Why it matters: spreading the word and getting exposure is super important. Additionally, this will enable less technical users to join and be engages thus keeping the community more diverse.

    • Things to consider: OWL tokens can be used for fees or sold on mesa.eth. This means those rewards are valuable immediately and can be distributed regardless of achieving the 20M$ volume condition. The claim for reward will be made by submitting a proposal to the dao through Alchemy and attaching all relevant information. Might be good to create more detailed guidelines for claim proposals.

*REP distribution will happen with a different minimal threshold of 5M$ volume goal.

**REP and OWL will be distributed based on individual proposals and without further conditions except proof of contribution. Unclaimed OWL will go to dxDAO treasury for future challenges.

6 Likes

Hi Chen. I think it’s really well thought out, and important. I am all for it, for as you say, the GNO prize, but also the increased activity and potential new stakeholders in the DAO.

A few small questions/comments about the final point on promotion:

Where is the OWL coming from?
4% maybe seems high relative to 6% for the actual trading?
What is purchasing the 10 best Mesa meme NFTs mean exactly :)?

Also, I’m unsure how feasible checking ‘non-economical volume’ is in this case. Do you know of a way? As traders can of course spin up however many addresses to wash trade. And it’s not a standard orderbook. These competitions will frequently be ‘gamed’, but at least here it accomplishes our near term goal of getting some action on there, educating about it, and of course the reward.

Thanks.

Hey,
Thanks for the feedback and sorry for the late response.

  1. OWLs are given to the dxDAO as a complementary grant to the 10k GNO. The idea is to have some liquid asset to fund promotion activity without needing to restrict the payout as conditional.
  2. Another feedback I got was the concern that the reward will be given to a small group of people and thus will be very concentrated. I think the DAO could potentially on-board more members through the promotion campaign. I also hope this will make the group of members more diverse.
  3. I thought it would be awesome to try and make the campaign more meme-able through incentivising meme creation and sharing. One problem is to verify that the proposer is also the meme creator. By selling a meme NFT to the DAO, we’d know the proposer is the owner of the meme and also add non fungible assets to the dao’s portfolio. Maybe a bit nerdy (: but I thought it would be cool experiment
  4. Agree that it will be hard to spot ‘non economical volume’. Just wanted reserve the right to reject proposals if there is clear evidence of such activity. For example, someone can create 2 new tokens and trade between then indefinably. Probably he’d still need to pay fees so somewhat economical?. IDK