[1IP-14] Thank 1Inch: Automated Rewards for Valuable 1Inch Contributions

[user126]

Author: senad.eth
Dojo: Jordan (roundelephant.eth), Caleb, Matt, Natalia, Senad, Daniel, Robert

Simple Summary

We propose to thank (reward and recognize) decentralized contributions to 1inch with $1INCH and an on-chain thank you note. We will do it in a way that is scalable, automated, bot-protected… and rewards truly valuable contributions.

Abstract

Thank 1inch is core DAO infrastructure that can enormously increase appreciation, engagement, and value for 1inch holders. We can encourage and thank the following categories of value and utility creating activity across platforms:

• Governance participation
• Intra-DAO collaboration
• Member education
• Community building
• DeFi partnerships
• Core task bounties
• Infrastructure innovation

How it works

1. 1inch members make valuable, decentralized contributions to 1inchDAO leveraging any of dozens of platforms.
2. Contributions are auto-validated, auto-rewarded with 1inch, and auto-recognized with an on-chain Thank You note.
3. Sophisticated tech automates and scales thanking (rewards and recognition) while filtering out bots and bad actors.

Team

The ‘Thank 1inch Board’ includes several 1inch core contributors who have been here from Day 1. We care deeply about our mission to foster growth and expansion of the 1inch Network by incentivizing contributions. We come from diverse backgrounds committed to ensuring ‘Thank 1inch’ creates extraordinary value for our DAO.

The tech is supported by ThriveCoin. We are web3 natives, VC funded, and we’ve scaled products to support many millions of users. We support some of the top communities in web3 like ApeCoin, Bankless DAO, and many more.

Funding (one time)

‘Thank 1inch’ is an entirely performance-based one-time cost. In return, it gives 1inchDAO lasting, critical infrastructure to help drive decentralization, automation, and utility-creation long into the future!

1. $0 to start. 100% performance-based. ‘Thank 1inch’ is rewarded only when we create value for 1inch.
2. Up to 33k $1inch / month (up to 198k total) allocated ONLY to 1inch members who make contributions that create value for our 1inch community.
3. Up to 7k $1inch / month (up to 42k total) for all tech, white-labeling, integrations, 24/7 support, and extensive customization [our costs far exceed this].

Milestones

• February: Community feedback and Snapshot vote!
• March: Launch within 1 month of positive vote
• April: Reward 30+ ways to contribute at launch
• August: Reward 100+ ways to contribute by month 6
• Monthly: Improve core DAO engagement metrics by >10% each month!*

Motivation

Our expertise is in driving utility to communities by automating and scaling rewards for decentralized contributions. We believe now is the time for 1inchDAO to harness core infrastructure that can profoundly increase excitement, demand, and value in our DAO!

Furthermore, the long-term viability of 1inchDAO depends on decentralization, automation, and scale. To do that, we must reward community members helping to get us there now! 1inch already rewards contributions - but only centralized functions, and staking. There are many more ways our community can create value for 1inchDAO - but we don’t have the infrastructure to scale and automate decentralized contributions… yet.

‘Thank 1inch’ provides that infrastructure - and the result should be more utility, more value, and more fairness in the DAO. We automate and scale decentralized rewards for valuable contributions in the following categories:

• Governance participation
• Intra-DAO collaboration
• Member education
• Community building
• DeFi partnerships
• Core task bounties
• Infrastructure innovation

Rationale

1inch serves as a DeFi & DEX aggregator with the most liquidity and the best rates on ethereum, BSC, Optimism, Polygon and more.
A critical ingredient for driving adoption of DeFi-products and ensuring liquidity remains and increases is a highly engaged community incentivized to create ongoing, long-term value.

Thanking decentralized 1inch holder contributions should create enormously positive impact:

• 1inch holders should feel more valued for contributions to our community
• 1inch holders should want to contribute more and in more ways
• 1inch holders should notice the impact their contributions have on our community
• Prospective 1inch holders should be more likely to join and contribute value
• With a bigger, more robust community, the power of our 1inch token should increase

Specifications

For the initial implementation, we recommend rewarding contributions clarified as valuable by the community, recognised delegates (DAOplomats.eth & StableNode), emerging working groups. These contributions can exist across platforms, including:

• Snapshot
• Commonwealth [currently investigating]
• Discord
• Twitter
• POAPs
• Passed 1IPs
• In-person meetups

We will use the ThriveCoin technology to do the following:

1. Auto-validation of 1inchDAO contributions:

• Auto-validation of activities across all relevant platforms
• Granular control over specifically what activity to reward
• Platform-specific quality control filters to greatly reduce fraud risk

2. Auto-thank 1inchDAO contributions on-chain:

• Contributions are automatically recorded on the Mumbai network, Polygon chain
• Contribution details logged in IPFS file (blockchain storage) referenced in on-chain record

3. Auto-reward 1inchDAO contributions with 1inch and charitable contributions:

• Contributions will occur within Seasons that will typically last three months.
• Contributors receive $1inch as rewards for their contributions at the end of each Season.
• If 1inch earned is above a certain threshold (average gas fees) they can keep their reward OR donate it to charity.
• If their 1inch earned is below that threshold, their rewards will automatically be allocated to their desired charity.

Steps to Implement

Since we’re proposing to use existing technology to cover the heavy lifting, implementation needs are light and dramatically less expensive. We seek to create a small Advisory Board (‘Thank 1inch’) to administer the initiative. The board is a group of trusted 1inch contributors, recognised delegates and ThriveCoin team members. Board members will meet weekly to support ‘Thank 1inch’, and they will serve an initial 6 month term. They are empowered to make decisions regarding:

1. Definition and review of community participation (“Season”) goals
2. Decisions around which contributions to reward
3. Specific rewards allocated to each contribution type
4. Details around charitable contribution opportunities
5. Spreading awareness of the initiative and encouraging participation

The ThriveCoin team will provide expert staff support with all of the above, while all reward allocation decisions will be made by the board.
When we launch ‘Thank 1inch’, contributors will simply complete a one-time authentication (e.g. sign a read-only message to verify their wallet address and auto-verify Snapshot/Commonwealth contributions).
The authentication enables all future auto-verification of their contributions on that network (including historical contributions, if desired), auto-recording on-chain of those contributions, and the auto-distribution of rewards.

Timeline

The required technology tools and deployment processes are already built.
We anticipate launching within a month of receiving a positive Snapshot vote - and as soon as we receive final approval, likely in late January.

[Gustav_StableLab]

Thank you for sending over this proposal. I think there are some key things to highlight in regards to payments for simple governance tasks.

• It is very difficult to implement rewards systems for simple governance tasks, and they are easily abusable. This has been seen in other implementations such as Source Cred for MakerDAO (They are off-boarding because their assessment of the implementation was that it ended up being non-beneficial for positive governance impact).
• The scope of this proposal is huge. It will require a lot of work and time to figure out how to quantifiably measure what is net positive and what is not. The scope increasingly reinforces my stance in the first point.
• This proposal will require the 1inch community to increase the need for forum and chat mods to ensure the execution of it.

We at StableLab believe a lot in the benefits of compensation for net-positive governance work, but a simpler implementation that rewards long-term positive impact and participation looks like a better model to go for at 1inch.

I also have a couple of questions in case I missed something.

• Is this implemented successfully in DAO’s who are in similar situations to 1inch?
• Senad, are you working both with DAOplomats and ThriveCoin? In that case I believe you should disclose the conflict of interest of being the author of the proposal on behalf of both DAOplomats and ThriveCoin.

[user126]

Thanks for your comment, Gustav

• We’ve built bot and bad actor protection - and it scales. Happy to talk more with you about it next time.
• While the scope may appear big, what we propose is quite simple and important: People deserve to be rewarded for value-creating contributions to our DAO. When they are rewarded, more people will create more value.
• Onboarding is easy. I saw how easy it is firsthand at Bankless.
• We work with Bankless, ApeCoin, and others.
• I’ve disclosed my relationship with ThriveCoin verbally to others. But I just did it in writing too. Thanks for the reminder.

Further: StableNode submitted a proposal to boost governance activity on 1inch, by incentivising community members to present proposals and receive rewards ([1IP-X] Governance Community Participation Incentives). We can auto-recognise & auto-reward decentralised contributions to the DAO with Thank 1inch!

[Gustav_StableLab]

• We’ve built bot and bad actor protection - and it scales. Happy to talk more with you about it next time.

• Can you explain more about it here? I think its important for the community to know the details of it, if this is going up for a vote you should include the relevant information.

• While the scope may appear big, what we propose is quite simple and important: People deserve to be rewarded for value-creating contributions to our DAO. When they are rewarded, more people will create more value.

• I think most of the points you have in the initial scope bears no significant improvement to governance activity. It seems more just to incentivise general activity in and around the DAO. If you want to do a simpler scope can you then clearly define it and also add the reasoning as to why this is enhancing meaningful governance activity?

• We work with Bankless, ApeCoin, and others.

• I am not sure I see strong similarities between 1inch and the projects you mention here.

Another thing which the proposal does not address is the operational side of things. Can you maybe tell us what it would require from an organizational standpoint to run and implement? The ThriveCoin support is ok, but at the same time I don’t think its in 1inch’s best interest to get dependant on a third party service provider for key internal processes such as governance compensation. Therefore, the community should clearly understand which resources the DAO needs to commit to make this possible.

[DaddyBear]

Hi, I am Daniel (@ThriveGiraffe) - one of the coauthors of this proposal and also a founder of ThriveCoin, which provides the underlying tech for Thank 1Inch. I’m excited for the opportunity to contribute critical rewards infrastructure to 1inch DAO.

At its core, this is a simple proposal: we want to automate rewarding community members who make valuable contributions to 1inch DAO. We will reward them with 1inch token and with an on-chain thank you note. The impact should be greater engagement, value, and utility across 1inch DAO.

Please reach out to me if you have any questions. I’d love to get to know you, brainstorm, or answer questions about the proposal!

[DaddyBear]

@Gustav_StableLab I really appreciate your feedback. It’s clear you care about 1inch, and - like you - I always prefer more, rather than less, information. So let’s jump into it!

• You asked for more information on bot and bad actor protection. Below are five of our bot and bad actor mitigation strategies:

1. Granular community control over rewarded activities
2. System designed to incentivize concentration of activity within one account
3. System can flexibly shift validation criteria in alignment with community needs
4. Delayed review and reward states supporting additional layers of detection
5. Spectrum of oversight for reward verification

• You asked to clarify why we’re enhancing meaningful governance activity

• For clarification, we can auto-validate and auto-reward (with bot protection) activity across a large spectrum of governance activities, including:

1. proposal creation
2. helpful proposal replies
3. proposal discussions (e.g. Twitter Spaces hosting proposal authors)
4. proposal voting
5. leveraging various tools that support better governance
6. and more…

• Our proposal is not specific to governance activity because we believe there are many important ways to create value across 1inch that go beyond governance. The categories we can cover are listed in the proposal, but I’ll include them here for easy reference:

1. Governance participation
2. Intra-DAO collaboration
3. Member education
4. Community building
5. DeFi partnerships
6. Core task bounties
7. Infrastructure innovation

• The reason we keep the categories broad is because every community values different ways to contribute - even communities that may otherwise look quite similar. The contributions that are rewarded will be the ones 1inch most values!

• You asked about other similar DAOs we work with. Senad referenced ApeCoin (the #2 DAO in the world by market cap) and Bankless DAO (a top DAO brand). You fairly questioned the similarities between the them and 1inch.

• While I agree that the vision / application of ApeCoin and Bankless are different, the core problem we address with them is very much the same: DAOs need to incentivize community members to contribute in ways that support value, utility, and longevity.

• But here’s the issue: How do you incentivize a distributed, decentralized, largely anonymous group of people to help with everything from governance to new innovations? And how do you do that at scale? … Thank 1inch provides the infrastructure to do it!

• You asked about what is required to support Thank 1inch from an operational standpoint - “What resources [does] the DAO need to commit to make this possible”. Here’s an overview:

• A Thank 1inch committee of 1inch OGs and core contributors (not a third party service) will get continuous feedback from the 1inch community about what contributions are most valuable to the community, how they would like to validate the contributions, and what the value of rewards should be.

• 1inch DAO members will make contributions, get rewarded, get thank you notes on-chain. Based on the data generated + continuous community feedback, the Thank 1inch committee will make changes contributions and rewards so that they can continuously evolve to be better and better aligned with the needs of the 1inch DAO community.

• We have automated a large swatch of the “work” required - that’s why it scales. Thus, the committee would need to meet once a week on average. No resources from the DAO are needed beyond those mentioned in the proposal.

Thanks again for your feedback @Gustav_StableLab. Great questions, and it means a lot to me and us that you care so much. I hope I’ve answered your questions with enough detail to address your needs but not too much detail to have inadvertently written a book tonight! - Daniel

[Anonymous430]

There have been proposals in the past to fund community incentives. Notably @RichardAt’s proposal which requested funding for the development of a python library for all the 1inch community to use. With the charitable contributions I believe this could broaden the reach of the 1inch Network and expose the power of a DAO. Community challenges and content creation would be a prefect use for some DAO funding. Though it couldn’t be automatically rewarded and would need some moderation this would still be a great way to get the community involved.

Auto-rewarding participants has been a large part of the DeFi ecosystem. This proposal aligns with this trend and could be used to further engage the community. In the past the community team has seen the increase in participation from giving out POAPS and incentives through other platforms. Monetary rewards, in my opinion, should be given to those with quality contributions while others can receive thank you notes, poaps or even tickets for a raffle for general contributions. Getting rewarded in any way is a great way to add value to the community in my eyes. From my own personal experience it feels great being able to claim a 1st community call POAP because it shows you were there at the beginning, or at least a beginning.

As other commenters have said sybil will be something to take into consideration, giving out rewards to bots or the same user could quickly start to cause problems. I understand that giving monetary incentives could potentially attract bad actors but I’m hopeful the quality control measures will be effective against them. I also would like to bring up the scope, as Gustav has said, the scope is large and it makes me wonder if there’s flexibility if anything needs to change. Providing incentives that are too easy to complete and expose flaws would need to be monitored and corrected --will this need to be done by thrivecoin or the 1inch team? The Centralization of the rewards also sounds like a risk. If there is some $1inch funding are there smart contracts or other controls in place to hold the tokens so they can be distributed in a more trustless manner? I guess my last concern would include labeling bad actors or poor contributions. I understand there are quality control measures but I still feel like they were not well enough defined in this proposal.

[RoundElephant]

Let me start off by saying that I love the idea of a community-led incentives program, and I think it’s awesome that one of the delegates (@senad.eth), is willing to lead the charge here.

I connected my wallet to ThriveCoin and the onboarding experience was very smooth – it credited me for past collaborations I did with Bankless DAO on the DEX Aggregator lessons.

Auto-validation can work for a lot of contributions like governance votes, delegation, 1inch Academy quizzes, etc… but for high-quality contributions, I can’t see how they’d be able to be automatically validated. Riffing off @Belac 's example of the Python library proposal – rewarding that contribution would need to be a manual process by people who know enough about 1inch Protocols and Python to make sure that the work is satisfactory. It probably wouldn’t take very long for Belac to review the product, but it isn’t something that could automatically be done imo.

This brings me to @Gustav_StableLab 's concern regarding the level of effort required of the advisory panel members. At current levels of 1inch DAO activity, I think it is pretty safe to say that the advisory panel could manually review every contribution if need be. However, if we incentivize activity this could rapidly become unsustainable as we see an influx of people looking for rewards. We’ll need to be very careful about what type of activity we’ll be incentivizing.

---

Overall, I think this is a pretty low-risk way of exploring community incentives. Payment is purely performance-based, so if the program doesn’t take off, there will be little cost to the DAO. I do have some questions and suggested edits though:

Questions:

• Can you better describe the logistics of payment?
  • All funds leaving the DAO treasury must do so via a vote. It sounds like a lump payment will need to be provided at the end of Season 1 ( this will require its own separate vote and there is a risk that this second vote does not make it through the governance process).
  • Where is the DAO sending funds to and what are the security guarantees? I can’t find this information in the proposal text or on Thrivecoin’s website. Is this a multi-sig? A smart contract that will distribute automatically? An EOA that one person controls? Will we need to set up a separate multi-sig for the Advisory Board?
• Can this be used to distribute POAPs (ERC-721s on Gnosis Chain)?
• Is there technical documentation for ThriveCoin?
• Is this to be used for automatic rewards to masses of users? Or, is it to be used for specific high-value contributions that require manual review?

Suggested edits

I think the body of the proposal should have some specific examples of activity that we both want to incentivize and that can be automatically validated (assuming automation is the main advantage of ThriveCoin). A few things come to mind, but I want to hear what others think, too:

• Contributions to the 1inch Documentation site.
  • This would be easy to automate since we can just reward merged PRs (the PR reviewer will be determining if the contribution is quality or not).
• Creating 1IPs that make it all the way through the proposal process (similar to what StableNode proposed a few months ago).
• Delegating their st1INCH.

[Anonymous437]

Over all, I have a positive outlook on community-led incentives programs, and I admire @senad.eth for leading the charge by getting this discussion started with the 1inch DAO.

In line with the other comments above, I would like to see additional specifics in this proposal, such as:

• Details on security guarantees (specifically, mechanics of Thrivecoin’s proprietary sybil protection bot, as this attack vector is the highest-level barrier to success. It requires a delicate balance of filtering out the bad while maintaining strong UX for the good, imho)
• Possibility of using POAPs and/or other reputation building systems
• Logistics of DAO payment, along with accountability measures for performance
• Links to Thrivecoin’s exiting technical documentation
• Links to publicly announced integrations with the other DAOs, along with simple comparison of those DAOs with the 1inch DAO’s structure and vision.
• Specific details on how active or passive management of this entire system will be (including numbers of hours required based off of projected advisory team workload), along with examples of how the system will utilize auto-validation in order to scale at multiple levels of DAO activity growth.

Thank you again @senad.eth for getting this conversation started. Well-aligned incentive breeds action; however, in order for it to be successful with 1inch it also needs a careful balance of security, automation, and decentralization of system control.

[Baer.eth_DAOplomats]

Hey @senad.eth, thank you for building the thank1INCH; I hope this initiative can build engagement to the DAO; here are my comments based on my interaction with ThriveCoin in the past.

1. This program relies on finding the right metrics to calculate meaningful engagement and reward the community members, so, what’s the estimated manpower needed and who will be identifying those metrics?

2. currently proposed criteria of poaps, and forum posts are easy-to-game metrics since none is based on proof of personhood or have any quality checks included.

3. Passed 1ips is an interesting option as we rely on the community to do its diligence in filtering proposals.

4. 1Inch regularly hosts contests and community events, latest: ‘Christmas AI art contest’ worth 2k in 1INCH tokens; these contests provide great engagement for the community but have a hard time converting them to engage with the 1inch DAO

[user126]

@Belac & @RoundElephant, thanks to both of you for weighing in! Having you on the board will be super cool and valuable for 1inch, as you bring in diverse and curcial perspectives! I’ll address your comments here collectively and the edits @RoundElephant suggested will be included in the updated version of the 1IP that will hopefully land on snapshot!

As a 1inch community member and delegate, I’ve been so excited to see all of the feedback for our Thank 1inch proposal. It is exactly what we want and need to make our final version of the proposal optimally aligned with the needs of our community!

Also, I’ve reached out personally to many of you, but I’d love to speak with all of you, and make sure your voice is heard and contained within our final proposal. Please, at any time, reach out to me or anyone else on our Thank 1inch board to ask questions, brainstorm, or connect.

Below, I’ll detail how we are leveraging the collective feedback to improve our proposal:

1. Re: addressing sybil, bot, and bad actors:

In addition to my recognized delegate role at 1inch, I also serve on the grants committee and as a core contributor at Bankless DAO. There, we’ve seen first-hand how ThriveCoin - the tech and protocol that powers Thank 1inch - comprehensively addresses sybil, bot, and bad actor issues.

They leverage both proactive and reactive measures that together have created an experience in which - in four months - we’ve had zero sybil, bot, or bad actor issues. I’ll share a bit about both below:

**Proactive measures: **

• Proactive monitoring, data transparency for community monitoring, regular engagement data retrospectives, and time buffers.
• Flexible quality filters and granular control over rewarded activities.
• Wallet connection prerequisites, and double verification confirmation.

Reactive measures:

• Thank 1inch rewards are distributed seasonally (every 3 months), giving ample time to detect inappropriate usage or behavior.
• There are auto-detection features that can identify the prevalence of bots or bad actors.
• The Thank 1inch board will review usage and validation criteria weekly to ensure Thank 1inch is driving desired value to the community.

2. Re: Rewarding - and evolving - more and more valuable contributions:

Thank 1inch as a proposal is agnostic about which contributions the community should value. We provide the infrastructure and data for the Thank 1inch board/dojo - together with the community - to define and evolve a set of contributions that create value in ways the community decides are most valuable.

Wherever we start, we will continuously improve by getting feedback from the community and learning from the data. No community stays static in their needs. We will reward contributions the community most values… and continuously improve together with you over time!

3. Re: logistics and payment:

Funds are rewarded in alignment with the completion of milestones - and entirely performance-based!

a) The vast majority of funds are allocated back to the Thank 1inch community. Specifically, they will go to a multisig wallet with community members and Thank 1inch board/dojo members as the signers. At the end of each season, those funds will be sent to a smart contract that auto-allocates funds to our DAO members who have made valuable contributions.

b) The funds allocated to ThriveCoin for tech and support are allocated to a ThriveCoin wallet upon completion of tech provision milestones. The tech and support services include software development, white labeling, server management, onboarding support, and more.

4. Re: suggested contributions:

We noticed that community members want to see example contributions. Suggestions are below… _and _we also want to stress that the Thank 1inch board/dojo and community has full authority to determine optimal contributions and rewards + make changes at any time. In other words, there is zero third-party intervention in 1inch decision-making.

Example contributions - based on feedback from community members:

• Making valuable additions or edits to 1inch documentation.
• Offering consistent, valuable feedback on 1inch proposals.
• Creating a 1IP that passes Phase 5 of the proposal process.
• Serving as a delegate - or delegating your vote - each quarter.

With each of the above contributions we can create validation mechanisms that leverage bot and bad actor protection, helping to ensure we are only rewarding valuable contributions.

We hope the above has been helpful. Again, this process has been so incredibly valuable, and we’ll soon be upgrading the proposal to ensure we’ve integrated your feedback into the proposal itself. Thank you, thank you, thank you. We are stronger together! - Senad

[DaddyBear]

Hi @Belac thanks so much for your thoughtful comment and kind words. I appreciate that you called out defi trends connected to automation, and also believe in our ability to align with existing priorities of community members to “further engage the community”.

Also our experience - and research - is aligned with your next big thought: “Monetary rewards, in my opinion, should be given to those with quality contributions while others can receive thank you notes, poaps or even tickets for a raffle for general contributions.” This would be a best practice for Thank APE.

Agree with your comments about bots, bad actors, and sybil. We absolutely address all of this - and further describe it @senad.eth’s macro-response to your and other comments.

Additionally, I believe we’ve addressed and incorporated Gustav’s comments about tightening the scope of the proposal and prioritizing governance. I appreciate you calling this out too; it really helped us with revisions to the proposal. You should see those revisions within 24 hours!

Finally, we addressed the fears about “centralization of rewards” - e.g. that will never happen. Rewards are held in a multi-sig by community members and then delivered to a smart-contract at the end of a season to be auto-distributed. No central entity ever touches them. @senad.eth described the process in his macro response, but this will be included in the updated version of the proposal too.

I hope I’ve addressed everything. Very excited for you to see the revised proposal soon. I - and all of us - hope it fully incorporates your feedback and feedback from the rest of your community.

Again, thanks so much for your feedback! - Daniel

[DaddyBear]

First, thank you @RoundElephant for such a thoughtful and comprehensive comment.

I’m so excited that you love what we’re trying to do: “Let me start off by saying that I love the idea of a community-led incentives program, and I think it’s awesome that one of the delegates (@senad.eth), is willing to lead the charge here.”

Second, it’s so exciting that you agree ThriveCoin onboarding is smooth. A web3 “luminary” just shared that he’s using us as an example in his talks about how smooth onboarding in web3 should be. We’re excited to bring that smoothness to 1inch DAO!

Third, re: autovalidation and effort from the Thank 1inch board - we have invested an enormous amount in the technology so that we can support real scale through automation… thereby ensuring there is no situation where the board is reviewing every contribution or even close. We’ve described how we do this much more in depth in @senad.eth’s general comment in response to your and other comments, and we’ll further address this in our proposal revision which will be posted in less than 24 hours!

“Overall, I think this is a pretty low-risk way of exploring community incentives. Payment is purely performance-based, so if the program doesn’t take off, there will be little cost to the DAO. I do have some questions and suggested edits though” - Thank you - and so glad you noticed this part!

Most of your questions are answered in the revised proposal (based on everyone’s comments and feedback!). Here are the answers to questions not included:

-We can reward but not distribute POAPs.
-We’ll of course make technical documentation available as needed. We’re also doxing our tech leadership team in the revised proposal. They are… impressive!
-Our focus is on rewarding real, high-value contributions!

→ and thanks for the suggested edits. You should see them incorporated! - Daniel

[DaddyBear]

@tradersnow thanks so much for taking the time to make all of these incredible suggestions. They’ve been super-helpful for us as we’ve been putting together the next version of the proposal. A few quick thoughts in response:

First, thanks so much for your vote of confidence! - “I have a positive outlook on community-led incentives programs, and I admire @senad.eth for leading the charge by getting this discussion started with the 1inch DAO.”

Second, while we do not create POAPs, we are partnered with / support dozens of web3 platforms - including those that give away POAPs, et. al. In the revised proposal, you’ll see a list of many of our partners to get a sense of how we can evolve our support for 1inch DAO over time.

Third, logistics, et. al. should be covered in the revised proposal (we’ll share in less than 24 hours!). Additionally, we’ll include some case study information re: other DAOs - which hopefully should be helpful too!

Fourth , re: details of role of the advisory team: we’ve included more in the updated proposal. If it’s not enough, we can do even more. The short answer in terms of time is that in other DAOs, advisors allocate between 2 and 8 hours _a month _depending on their needs. Automation helps A LOT!

I’m excited to continue the conversation with you @tradersnow, and I deeply appreciate you taking the time to give feedback on our proposal. We are 100% aligned on the need for “security, automation, and decentralization of system control.” Luckily, that’s exactly how we’ve built the system! - Daniel

[DaddyBear]

@0xBaer.eth Thanks so much for your kind and thoughtful reply! I too hope - and strongly believe - “this initiative can build engagement in the DAO”. I’ve also appreciated your support with Bankless DAO. You are one of the important reasons we’ve doubled contributions and doubled contributors Season over Season with Bankless!

Here are quick answers to your questions:

1. Estimated “man-power” on the 1inch DAO side needed is a 4 to 7 person Board / Dojo that allocates 4 to 6 hours each a month.

2. We have extensive bot and bad actor detection that makes it very, very difficult for anyone to game the system. This isn’t an issue - and won’t be an issue. @senad.eth describes this in his macro response to your comments and others, and we’ll further describe it in the revised proposal (publishing in less than 24 hours).

3. Thanks for your idea of rewarding passed 1Inch proposals. That’s one of our suggestions in the updated proposal. We agree it’s an interesting option!

4. I think your last thought was that perhaps we can partner in some way with the 1inch contests to drive meaningful engagement for the DAO. We love partnerships, and are happy to investigate how that might be supportive and valuable for the DAO!

Again, thanks so much for your thoughts and ideas @0xBaer.eth. I’m excited for many more future brainstorms, and hope we have the opportunity to meaningful support two communities that you’re an important part of! - Daniel

[Gustav_StableLab]

Having gone over it again, and even though I am a fan of trying to align incentive to push the governance advancement for the 1inch DAO, I am not sure ThriveCoin is the best solution for 1inch in its current state.

Some concerns in regards to the proposal.

• ThriveCoin has no experience working with the advancement for DeFi DAO’s which are fundamentally very different than the Social/NFT DAO’s they are currently working with.

• The budget request is 7,000 1inch tokens per month. This is quite high and in my opinion probably exceeds the budget for what we should want to distribute as community at the current state of the DAO. I would rather spent this amount of tokens on incentivising governance, rather than using it as an operating budget for an external provider.

• The operational overhead from evaluating the outcome of the implementation, and establishing a specific working group for this seems inefficient at the moment. There are other avenues which I think we can explore which would require much less manpower and could potentially yield the same outcome without the admin and additional cost.

I think another solution (multiple has been proposed in the past), could be a better model for 1inch in its current stage. I am unsure that we want to bind ourselves to an external provider for something like this. It would be difficult to wind down, expensive to run, and would require a lot of time from the delegates and other governance contributors in 1inch.

Really appreciate the ThriveCoin team for their commitment to trying to make this work, and maybe we can find some alignment in the future.

[DaddyBear]

Thanks @Gustav_StableLab. I’m excited to find ways to collaborate with you in the future. I find you smart, thoughtful, and deeply passionate about web3. I know - based on our communication - that we share the same love and commitment to our DAO ecosystem. That is why Thank 1inch addresses all of the comments you’ve mentioned:

1. With Thank 1inch, there is no “bind[ing] to an external provider.” It’s a six month pilot - just as you recommended we do. If we create value (we will!), the community votes to continue working with us. If we don’t create value, the community votes not to continue.

2. Thank 1inch is not “difficult to wind down”. Winding down requires, literally, the push of a button - just as you prefer. If the community doesn’t value Thank APE (we doubt it, but it’s possible), we stop. It’s that simple. The push of a button.

3. Thank 1inch is the cheapest way to reward community members for the work they do for 1inch. We are 100% performance based - the cost efficiency you desire. If we don’t perform we aren’t rewarded; if community members don’t create value, they aren’t rewarded.

4. Thank 1inch doesn’t “require a lot of time” - which you’ve shared is important to you. It saves times - likely immense time. It requires an hour a week from 4 to 7 opt-in community members. For everyone else, we automate rewarding value-creating contributions. We take a manual, off-chain, unscalable process… and automate it, put it on-chain, and make it scalable. This saves every contributor (and core team member) time and saves the DAO money.

5. Finally, you mention - fairly - that while we serve some of the biggest and most notable DAOs in the world, we don’t yet serve a DAO exactly like 1inch. To be clear, our expertise is helping DAOs drive greater efficiency, utility, and value. We do it by equitably rewarding all members (at scale) for valuable contributions. This is a problem all DAOs experience. 1inch is a DAO. It is squarely in our zone of expertise. [As a comparison, Apple isn’t a furniture expert. But furniture companies need computers. So they often work with Apple - because Apple is a computer expert. Same thing.]

6. Last thought #1: Thank you again, Gustav, for your public comments. Again, whenever the timing is right, I’m excited to work together to further a DAO ecosystem vision we both believe in and are both deeply passionate about.

7. Last thought #2: It is never too early to fairly reward 1inch DAO members for the contributions they make to this community. The impact will be greater efficiency, utility, and value. This what Thank 1inch does. Whether it happens sooner or later, we are excited to show the impact we can create in a way that is 100% performance-based and entirely risk free.

• Daniel