Star Achiever Rewards

Proposal to residually reward Star Rank Achievers for their contribution and loyalty each and every month.

Background

Earlier this year we released Influencer Star Rankings to acknowledge influencers for their achievements - there are 13 influencer ranks.

The ranks are determined by each MetFiers’ NFT level and lifetime income (excluding promotional bonuses e.g. LIFTOFF, MetaQuiz prizes, and Multiplier Rewards etc).

Each rank is represented by a different Star Achiever NFT.

While influencers retain all previous Star Achiever NFT ranks, they can only hold one rank at a time within the MetFi ecosystem i.e. the highest Star Achiever Rank NFT that they have minted.

You can view your rank and mint your Star Achiever NFT when you qualify for each new rank.

ISA Reward Pool Contract

The ISA Reward Pool holds all METFI that is allocated to pay ISA Rewards.

The ISA Rewards Pool is replenished through the METFI recycling mechanism. Each recycling event transfers 5% of the METFI tokens in the Recycling Pool to the ISA Reward Pool.

The ISA Rewards Pool Contract was deployed at the first halving on 5 April 2023.

Motivation

We’ve received numerous requests from community members to attach a financial reward to the Influencer Star Achiever Program – so we designed it to be residual and sustainable so that influencers receive a new, permanent monthly income stream.

Influencer Star Achievers (ISA) Rewards

If this proposal passes ISA rewards would be distributed to all MetFi influencers that achieve and mint a 3-Star Rank NFT or above.

The rewards will be calculated at each halving and METFI will be allocated to the Star Achievers Pool Contract, beginning 5 October 2023 when a snapshot of ranks will be taken.

Once the snapshot is taken METFI in the Star Achievers Pool Contract is allocated to each influencer that holds an eligible rank for the next 6 months until the next halving and snapshot when the process happens all over again i.e. every 6 months ISA Rewards are recalculated for the next 6 months and so on.

METFI tokens are distributed FULLY UNLOCKED to the wallet of all eligible Star Achievers.

ISA Reward Allocations

METFI from the ISA Pool is allocated proportionally to each rank. As there are fewer MetFiers in the higher ranks they will be receiving a higher reward per influencer.

For example:

Let's assume there are 770,000 METFI in the ISA pool at the time of the halving.

We have 11 eligible ranks (Ranks 1 & 2 are not eligible) so 770,000 / 11 = 70,000 so each of the 11 ranks is allocated 70,000 METFI.

Now let’s assume there are:

• 500 x 3-Star Achievers
• 50 x 5-Star Achievers
• 5 x 10-Star Achievers

The 70,000 allocated METFI for each rank is then divided by the number of achievers within that rank. In the previous example this would mean:

• Each 3-Star Achiever receives 140 METFI
• Each 5-Star Achiever receives 1,400 METFI
• Each 10-Star Achiever receives 14,000 METFI

ISA Rewards Distribution

The rewards allocations are distributed to the wallet holding the Rank NFT.

The rewards are distributed in 6 equal monthly tranches starting 30 days after the halving. The influencer will have 3 days to claim their METFI tokens from within the dApp. Unclaimed tokens go to the METFI Recycling Pool.

If there are no achievers in a particular rank at the snapshot, the tokens for that rank are immediately sent to the METFI Recycling Pool.

For example:

The next halving takes place on 5 October 2023 and you are a 5-Star Achiever at the time of the snapshot so you were allocated 1,400 METFI.

You will be able to claim 233.33 METFI (1,400 / 6) on 4 November, 4th of December, 3rd of January 2024, 2nd of February, 3rd of March, and 2nd of April respectively (every 30 days).

If you do not claim your METFI within 3 days they will be recycled and you will permanently lose your claim on them, however, you will be able to claim your reward for the following month.

ISA Pool Top Up

The Recycling Pool and Star Achievers (ISA) Pool hold very small balances of METFI as we have not had a lot of recycling events and we aren’t expecting huge recycling volume between now and the next halving in October.

It is for this reason that we propose topping up the ISA Pool with 150,000 METFI (one-time event) so that we can kick off ISA Rewards strongly and appropriately incentivize and reward active influencers.

10% METFI Bonus

Furthermore, it’s good for the community when ISA Rewards are staked.

This is why a 10% METFI bonus will be given to all Star Achievers when they stake their ISA Rewards to their NFT.

This means that 90% of the ISA Reward Pool is for ISA Rewards and 10% will be allocated for the METFI bonus. Unclaimed 10% METFI bonuses are sent to the Recycling Pool.

Eligibility

If you do not hold a minted 3-Star Achiever NFT (or above) prior to the block before the halving snapshot you will not be eligible for ISA Rewards for that halving and you will have to wait 6 months for your next opportunity.

All ISA Rewards are locked in at the time of the halving snapshot and cannot be changed until the next halving when a new snapshot is taken.

If you initiate the unstaking process or unstake your NFT you will not be eligible to claim ISA Rewards – your unclaimed reward is permanently lost and your unclaimed ISA Reward is sent to the Recycling Pool.

The claimed tokens are fully unlocked and there are no restrictions placed on them.

Voting Options

You have 3 voting options:

1. Implement ISA Rewards + 150k one-time METFI Top Up
2. ISA Rewards - NO top up
3. No ISA Rewards in any form

Vote Discussion

Join the discussion on this proposal in the MetFi DAO #vote-discussion channel on Discord.

Proposal

If the community approves this proposal with a FOR vote – the DAO will execute the ISA Reward Program per the communities wishes.

Please vote for options 1, 2, or 3.