[GP28] Budget for GAL Staking Rewards Programs

Abstract

This proposal seeks funding from the treasury to facilitate comprehensive rewards programs aimed at enhancing user engagement and incentivizing GAL token staking. The requested budget includes 2 million GAL tokens and 1 million ARB tokens, which will be utilized for various initiatives such as staking benefits for GAL stakers and promotional activities. These efforts will not only directly reward GAL stakers, but also facilitate collaborations with other projects, ultimately benefiting the Galxe community.

Motivation

As a platform deeply committed to the empowerment of our users, we recognize the importance of directly rewarding them for their loyalty and engagement. By implementing comprehensive staking rewards programs, we aim to incentivize GAL token staking, thereby enhancing community participation, increasing the amount of total GAL staked and ultimately creating a positive impact for the GAL token price. Additionally, through collaborations with other projects, we can expand our community reach and provide additional value to our users, further solidifying our position in the market.

Specification

Overview

The proposed budget will be allocated across various initiatives aimed at rewarding our users and incentivizing GAL token staking. These initiatives encompass collaborating with other project’s teams, promotional activities, and innovative methods to reward GAL stakers. It’s essential to emphasize that while a portion of the budget may be allocated for collaborations with major Galxe partners, the primary objective remains the overall benefit of the Galxe community.

Scope

This proposal covers the allocation of 2 million GAL tokens and 1 million ARB tokens for the upcoming rewards programs. The allocated funds will be utilized for a range of activities designed to reward community members, increase GAL token staking, and facilitate mutually beneficial collaborations with major Galxe partners.

Success Criteria

The success of this proposal will be evaluated based on the following criteria:

1. Increased engagement and participation among GAL token holders.
2. Growth in the number of GAL tokens staked.
3. Successful execution of collaborations with Galxe partners, resulting in expanded community reach and heightened token utility.
4. Positive impact on the overall value of GAL tokens.

Timeline/Budget

The proposed budget includes 2 million GAL tokens and 1 million ARB tokens, with the allocation and utilization of funds to be used to enable GAL staker rewards programs. Detailed plans and timelines for specific initiatives will be provided in subsequent announcements by the Galxe Team, ensuring transparency and effective utilization of the allocated budget.