[STP#3] Governance Participation Incentives for STP community

Title:

Governance Participation Incentives for STP Community

Date:

07/06/2024

Type:

Community

Objective:

Allocate a budget to grow community participation in governance processes by 100% in 2 months, through token incentives.

Deadline:

n/a

Motivation (Why):

The STP ecosystem has 16000+ token holders but only a small fraction of the community is actively involved in governance (~200 unique voters in the last proposal).

Since we’ve recently revamped the STP governance processes, it's now easier than ever for the community to participate and grow the ecosystem.

To bootstrap participation, we propose setting up the STP Citizen Rewards Campaign.

Body (What, How, When, Who):

The STP Citizen Reward Campaign allows community participants to win rewards by participating in governance processes.

STP Citizens are all token holders and contributors who wish to grow the ecosystem!

There will be three prize pools available for various levels of participation.

Voter Reward Pool ($25 x 10 = $250)

• Raffled out to 10 voters who vote on at least 5 proposals over the next 2 months.
• Minimum participants: 50

Reviewer Reward Pool ($100 x 10 = $1000)

• Raffled out to 10 voters who also provided thoughtful feedback on at least 2 community proposals on Discord.
• Minimum participants: 25

Proposer Reward Pool ($250 x 1 = $250)

• Raffled out to users who write and initiate at least 1 proposal that improves the STP ecosystem—given out when a proposal is accepted (Community/Protocol/Grants).
• Minimum participants: 10

Total Reward Pool ($1500)

The campaign will be hosted on our Galxe space implementing the token reward campaign features.

If there isn’t enough participation for either of the pools, the rewards will be rolled to the next cycle. All previously eligible participants will be eligible in the next cycle as well.

The minimum participants required is 50, 25, and 10 unique wallets for each prize pool respectively.

The first cycle will last two months from August 5th to October 5th, 2024.

Processes and rewards will be iterated based on participation rates and outcomes.

Here is a potential timeline for execution:

• July 20: Finalize campaign details
• July 25: Set up Galxe campaigns
• August 1: Announce campaign on all socials
• August 5: Campaign start
• October 5: Campaign end
• October 6: Distribute rewards

Next Steps:

• Set up Galxe campaigns.
• Allocate tokens to the Galxe reward pool.
• Announce the campaign on all socials.