Authors

ChopChop

Glossary

DAO Grant

Summary

This proposal is intended to retroactively reward early development contributors to the NFTX DAO with a one-off grant, paid in $NFTX tokens from the DAO treasury. After this one-off grant reward, no further retroactive grants are to be expected apart from highly exceptional scenarios.

Rationale

As a relatively new open-org, our competitive lead is partially caused by all the value that self-motivated community contributors create for the DAO. This comes in all shapes and sizes, ranging from leading operational, development and/or product efforts. To keep leading and to signal we value our contributors dearly, we want to propose a one-off retroactive grant towards the most active contributors based on contributions.

Passing this vote, the DAO signals that we are highly appreciative of pro-active contributors that create value for the NFTX ecosystem, strengthening our position as a community-owned & governed project.

As this vote also signals a retroactive reward is a one-off event, it also shows the need for a well-thought-out Community Bounty program to sustain the future growth of the contributor squad(s)/individuals that want to be rewarded working on NFTX without taking a core position due to other obligations. If this vote passes, a community bounty program will be considered at a later stage of NFTXs' lifecycle when targeted bounties are in need.

Effect

Opportunity

• By rewarding early contributors that have shown excessive commitments to the DAO without any expectation of being rewarded for their efforts, we signal that value is returned to those who create value for an open-org. We want to set this as a precedent for future open-orgs and contributors alike.
• Offering rewards in the form of $NFTX tokens to our early contributors provides them with the possibility to have more voting power on future governance proposals, aligning incentives better.

Risk

• The amounts proposed in one-off grants might unconsciously impact the follow-up program by comparing grants based on NFTX amounts rather than dollar-value. We should be aware that this one-off proposal should not be compared with future grants/bounties allocated to individuals and/or grants, which instead should be judged on a case-to-case basis.

Specifications

We feel the following contributors*, going by their Discord user name, have left such a significant positive impact on the DAO in its early days, that it should be rewarded through a grant:

• Owen
• Vasa

*Other contributors that originally qualified for this list have since been acquired in a more formal position, as the Consumer Products squad (XIP#3).

Funding request - Yes - Implementation Requires Funding

In order to execute this retroactive grant, we require 100 $NFTX to be spent (50 per person) from the NFTX DAO treasury upon acceptance of each individual contributor.

Contributors retain the personal right to deny receiving a grant for any (undisclosed) reason, in which case the $NFTX will remain in the treasury.

Communication

• Discord: https://discord.gg/xcJkxMXSR8
• Forums: https://forum.nftx.org/t/draft-proposal-xip-5-reward-early-developer-contributors-with-one-off-retroactive-grant/181

Quorum

Minimum Quorum: More than 10% of circulating, non-treasury NFTX must participate for a proposal to Pass. Passing Threshold: More than 50% of voting tokens must vote FOR for the XIP to Pass. For changes to the NFTX contract, more than 70% of voting tokens must vote FOR for the XIP to pass.