BIP-030: First Treasury Expenditure for the BRP System Launch

Title: BIP-030: First Treasury Expenditure for the BRP System Launch

Author: @createpjf｜Leo

Date: [08/02/2024]

BIP-30：BRP 声誉系统首次空投国库支出

Abstract

This proposal will vote on the first treasury expenditure for the BRP System Launch.

Voting period: 02/08/2024 —— 05/08/2024

Background

According to the BuidlerDAO whitepaper definition, the short-term benefits of community members will be distributed monthly in the form of grants since the launch of the BRP reputation system.

Main Body

$BRP (Buidler Reputation Points) and $pBRP (Proof of Buidler Reputation Points) are on-chain proofs of contribution and reputation for BuidlerDAO, published on the Polygon mainnet. These are rewarded to contributors and partners who consistently demonstrate high-quality contributions within BuidlerDAO community.

The BRP reputation system will officially launch in early August 2024, opening the first round of claims. Community members will be able to claim USDT and mint pBRP based on the $BRP tokens they earned from July 2023 to July 2024. According to the whitepaper, the BRP reputation system will open for claims on a monthly basis thereafter.

Statistics show that the community generated 25,533.4 $BRP from July 2023 to July 2024. Based on the grant formula defined in the whitepaper, the total grants available for this period are approximately 62,500 USDT.

• Formula: Total Grants = Current period community reputation * 2 * x% + Treasury Balance * 1% * y% (where 2 represents 2 USDT per reputation, x% + y% = 100%, tentatively set as x = y = 50%)
  • Note: The existing treasury funds for this airdrop are calculated at 600,000 USDT, based on a 12-month calculation period covering the time span of the first reputation generation.
• Claim Rules: Each member's allocation weight for the grant is determined by their identity * contribution in the current period. Only members with a Citizen or higher status can claim the grant.
  • Claim Option: If claimed, the member receives the corresponding grant.
  • Non-claim Option: If not claimed, the member receives an equivalent amount of $pBRP (Proof of $BRP), which is a non-transferable token. During the $BUIDL token TGE, there will be a retrospective token airdrop calculated based on the "reputation x identity" weighted formula, where reputation = $BRP + $pBRP.

Financial Impact

Approximately 62,500 USDT will be disbursed. Any unclaimed amount after minting will return to the treasury.

Result Measurement

Community contributors successfully claim USDT, and the reputation system launches smoothly.

Next Steps

The airdrop budget will be transferred from the ETH treasury multi-signature wallet to the Polygon treasury.

Budget

62,500 USDT

Voting Instructions

According to the on-chain public address statistics (Buidler Reputation (BRP) Token Tracker | PolygonScan), there are currently 134 $BRP holders, of which 81 are Citizens or higher, with a total voting power of 46,693.6 $BRP.

Voting Approval Standards:

1. Minimum number of voters per vote: 20% of Citizens or higher (more than 16 people).
2. Minimum reputation per vote: 20% of the total reputation of Citizens or higher (voting power exceeding 9,338.7 $BRP).
3. Approval rate per vote: 60%.