Polkadot Community Challenges - Where PolkaDAO can help?

Hello everyone,

this is more a general an open question, willing to raise a discussion about the defining/precising the purpose of PolkaDAO.

We are now so close to the Polkadot genesis block launch, but I still feel a bit lost about the community efforts there are to create the proper awareness and resilient ecosystem that a project like Polkadot actually need.

What challenges do you guys forsee fo Polkadot in the next few months? What kind of resources (time/effort/kiwledge/skills) can we all put into a common pool so we, as PolkaDAO can collaborate together to help in the resolution of such channels?

Happy to herar your thoughts about this!

G.

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Hi Gus, welcome to the PolkaDAO community.

That’s a very good point. Having the conversation in this forum is very valuable.

Note that Prastut is leading an effort on gathering proposal ideas for PolkaDAO contributors (he posted about it in the Polkadot Riot channels & on reddit), that’s the spreadsheet being worked on. The more people contribute the better.

Maybe @Hutch or Dan Reecer can help answering this from the Polkadot team/company perspective?

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Hi @Gus,

Welcome to the community!

What challenges do you guys forsee fo Polkadot in the next few months?

One problem that I foresee is that currently there is no easy way to figure out nominator incentives. I think a significant challenge for an end-user would be to easily figure out incentives for contributing their money to Polkadot. I see the following patterns in other communities around possible solutions based on the user’s motivation:

  • Do-it-for-me: for people who have tons of money and low incentive to figure out PnC’s for incentives. For these, I predict staking services will sprout up to service these users.
  • DIY: users who have more motivation to dig deeper.

Currently, the resources that exist for giving an idea about incentive design are in a long-form version like https://wiki.polkadot.network/en/latest/polkadot/node/guides/validator-payout/ - which would benefit DIY users.

Where I see a gap (that could be potentially filled) is an interface that offers the following:

  • Asks how much money you want to stake in local currency.
  • Converts that into DOTS and gives them predictive outcomes in local currency by offering up a list of potential validators they can stake money into.
  • Bonus features:
    • calculates best incentives across parachains.
    • take your mood into account:
      • “Want more decentralization?”
      • “Want stable returns (low risk/low rewards)?”
      • “Want risky returns (high risk/high rewards)?”

Users can now make an informed choice without having to deep dive into the nitty gritty of the Polkadot ecosystem and not have to pay hefty fees charged by these staking services.

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