0xstvg.eth

JBP-107 - Incentivize Frontend Decentralization

Voting ended about 4 years agoSucceeded

Summary:

Allocate 10% of new JBX reserved for dao.jbx.eth to Juicebox frontends each funding cycle.

Motivation:

The best way to guarantee Juicebox’s future is through decentralization.

juicebox.money is a major centralizing factor. Encouraging new frontends not only expands the Juicebox ecosystem—it mitigates major risks to contributors, the community, and Juicebox in general.

Risks:

There are risks inherent to decentralization. Juicebox does not have authority (or resources) to vet each new frontend to the Juicebox protocol. People might get scammed, websites might break, and rugs might be pulled.
JBX distribution is still tied to the multisig. Until a move to onchain governance, this system will inherit all the risks of Juicebox governance in general.

Specification:

Allocate 10% of new JBX reserved for dao.jbx.eth to Juicebox frontends each funding cycle.

To claim this JBX, any interested frontend must implement a tag. The tag should be prepended to any memo text entered by a contributor, with the format &X&text, where text is the contributor input and x is a hexadecimal representation of a Juicebox project ID. Frontends should also filter out this tag when displaying contribution memos.

Each funding cycle, distribute this JBX allocation to Juicebox projects listed in these tags, in direct proportion with the associated volume (measured in ETH).

Rationale:

This tagging system is compact, and using the memo field will allow for very quick deployment. This system also means that these frontends must themselves be Juicebox projects.
Reserved JBX is tied to total protocol volume, aligning incentives—this will encourage the growth of the Juicebox ecosystem.

Timeframe:

The JBX reserve for frontends should be re-evaluated in FC#20, and be increased if there is more frontend competition.

Copyright Disclaimer:

IPFS https://gateway.pinata.cloud/ipfs/Qmdbf6EyTtJqisU4o4GeCp9gEN3KY5dHRR37Ff3UmRLVg5

Discord Discussion https://discord.com/channels/775859454780244028/873248745771372584/941839642154647662

Notion Proposal https://www.notion.so/juicebox/Incentivize-Frontend-Decentralization-e0c8d9c0066540b296c3e334799e5119

Off-Chain Vote

For

23.84M 43.7%

Against

1.77M 3.2%

Abstain

28.98M 53.1%

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Timeline

Feb 15, 2022Proposal created

Feb 15, 2022Proposal vote started

Feb 19, 2022Proposal vote ended

Nov 07, 2024Proposal updated

Risks:

There are risks inherent to decentralization. Juicebox does not have authority (or resources) to vet each new frontend to the Juicebox protocol. People might get scammed, websites might break, and rugs might be pulled.

JBX distribution is still tied to the multisig. Until a move to onchain governance, this system will inherit all the risks of Juicebox governance in general.

Specification:

Allocate 10% of new JBX reserved for dao.jbx.eth to Juicebox frontends each funding cycle.

Each funding cycle, distribute this JBX allocation to Juicebox projects listed in these tags, in direct proportion with the associated volume (measured in ETH).

Rationale:

This tagging system is compact, and using the memo field will allow for very quick deployment. This system also means that these frontends must themselves be Juicebox projects.

Reserved JBX is tied to total protocol volume, aligning incentives—this will encourage the growth of the Juicebox ecosystem.