[GP2] Galxe Contributor Program Rewards

Please refer to the Galxe Contributor Program overview here.

Introduction

As a massive Web3 community, Galxe relies heavily on the contributions of its community members to ensure its success and growth. In order to foster a flourishing community, it is important to recognize and reward the efforts of those who contribute to Galxe. This proposal aims to introduce a rewards model for the Galxe contributors in the official Galxe Contributor Program for their contributions in Q1 (Jan- March) of 2023, and to be reevaluated and adjusted in Q2 (April- June) of 2023.

Problem

Currently, there is no formal program in place to reward contributors in the Contributor Program for their contributions to Galxe. This lack of recognition and incentive may discourage potential contributors from getting involved and actively participating in the community.

Proposed Solution

To address this issue, a program that rewards contributors from the community treasury will be established to reward contributors for their contributions in Q1 of 2023. The Contributor Program members will track contributions manually and the internal Galxe team members will review them continuously to ensure accountability. The rewards will be distributed based on the results of the internal evaluation process, which identifies the amount and quality of contributions completed by each individual contributor. Rewards will be distributed in the form of GAL tokens at the end of the quarter, with a total of 10,000 GAL tokens being distributed in Q1 of 2023, to be re-evaluated in Q2 2023. Contributions will be publicly visible to everyone.

Implementation

1. Establish a system for contributors to track contributions manually.
2. Assign a team of internal Galxe members to perpetually review contributions, using a point system to evaluate the amount and quality of contributions.
3. At the end Q1 of 2023, distribute GAL tokens to all contributors based on their contribution performance.
4. Make the contributions publicly visible to everyone.
5. Re-evaluate the rewards system in Q2 of 2023 to ensure its effectiveness and make adjustments if necessary.

Expected Outcomes

• Increased engagement and participation from community members.
• Greater accountability and transparency of Galxe platform within the program.
• Recognition and incentive for community members who contribute to Galxe's success.

Community Involvement

• Feedback and suggestions: The community can provide feedback and suggestions for the program through a dedicated channel, such as a forum or Discord channel. The internal Galxe team will regularly review and respond to feedback and suggestions. We will evaluate the quality of the program structure based on community feedback, and make adjustments to the program if necessary.
• Transparency: The contributions and reward distribution of the program will be publicly visible to everyone, to ensure that the community is aware of the rewards being distributed and the criteria for earning them.

Risks and Mitigations

• Risk of subjectivity in the evaluation process: To mitigate this risk, a clear set of criteria will be established to evaluate contributions, and multiple internal Galxe team members will review contributions to ensure that evaluations are fair, balanced and unbiased.
• Risk of low participation: To mitigate this risk, the program will be heavily promoted and communicated within the community, and the rewards for participation will be clearly outlined. Additionally, regular feedback and suggestions for the program will be solicited from the community to ensure the program is meeting their needs and expectations.

Budget

10000 GAL tokens for Q1 of 2023.

Timeline

• Implementation and launch of the rewards program in Q1 2023.
• Review and re-evaluation in Q2 2023.

Conclusion

The Galxe Contributor Program Rewards will not only recognize and reward contributors for their contributions, but it will also increase engagement and participation from community members, accountability, and transparency within the program. It is a vital step towards building a successful and flourishing community for Galxe.