[1RC] Amendment to the Recognized delegates program

2.1 General Proposals
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# Simple Summary

This proposal suggests amending the Recognized delegates program to make it more inclusive while maintaining quality standards

# Abstract

This proposal suggests amending the existing framework into a three tiered system which will incentivize new delegates with lower voting weight to be recognized and earn their way to becoming a Tier 3 Recognized delegate

# Motivation

The current version of the Recognized delegates program lacks a clear onboarding path for new delegates to earn reputation and receive delegation from delegators. Hence this proposal suggests modifying the framework to make it easier for new delegates to start contributing and earn their way up to being a tier 3 Recognized delegate.

# Specification

Overview:

A recognised delegate is an elected, paid position of reputable, diligent and qualified 1inch DAO members who will work closely with the team and contribute to the growth and sustainability of the 1inchDAO.

Recognized delegates fall into three categories, called ā€˜Tiersā€™, based on their performance and voting weight. Irrespective of which tier a delegate belongs to, as long as a delegate fulfils the responsibilities outlined below and gets accepted via a snapshot vote, the delegate shall be considered as a ā€˜Recognized Delegateā€™

Responsibilities:

  • Read, understand, and provide feedback if necessary on governance forum posts.
  • Always vote in the best interests of the DAO and the community over their personal interests.
  • Actively vote on governance proposals and explain the thinking behind each vote when relevant
  • Understand the 1inch Network, its key metrics and the overall ecosystem.

Compensation:

This Recognised Delegates Programme aims to attract and retain entities and individuals who will actively participate in governance on behalf of 1INCH token-holders as governance specialists. Hence we suggest compensating the delegates based on minimum participation and performance.

Delegates will be compensated based on the tiers

Delegate Tier Monthly Compensation
1 $100
2 $500
3 $4000

Compensation eligibility:

Minimum Participation: A delegate must maintain at least ā€˜xā€™% participation rate. Participation is measured as voting in any ā€œtemperature checkā€ or a snapshot governance vote.

Minimum Communication: A delegate must maintain at least ā€˜yā€™ % communication rate. Communication is measured as providing for any ā€œtemperature checkā€ or a snapshot governance vote, a summary, a voting position, and a justification for that position. A missed vote will still require communication to avoid a lower communication rate.

Minimum Delegation Threshold: To remain eligible for delegate incentives, a delegate must maintain voting weight of at least ā€˜zā€™ Unicorn Power (UP)

Metric Tier 3 Tier 2 Tier 1

Voting Participation 80% 80% 80%
Communication 80% 80% 80%
Delegation threshold 500,000 100,000 10,000

*above calculations will be made from the time a delegate is accepted as a recognized delegate by the DAO by following the procedure outlined below

Procedure:

In order to get accepted as a ā€˜Recognized delegateā€™ by following the process below:

Phase 1: Announce your candidacy by filling the Recognized Delegate Application Template [here] and posting it to the Recognized Delegates category of the forum

Phase 2: Contact relevant stakeholder to gather feedback and support

Phase 3: Open a temperature check poll to gauge consensus

Phase 4: Post your proposal on snapshot

# Rationale

This amendment clarifies the procedure that delegates need to follow and allows a tiered onboarding path for potential delegates to join the program.

# Considerations

  • The 1inchDAO should consider building a reputation dashboard so that anyone can track the voting history and performance of delegates.
  • We suggest that the program continues for a minimum of 6 months as outlined in the original proposal and for a maximum until the budget runs out
  • The DAO should consider hiring a Governance Operations Specialist who can keep a track on the performance of delegates, schedule payments and highlight code of conduct violations
1 Like
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Iā€™m in favor of this proposal! I believe it is closely aligned with the goals outlined in the June 22 Bi-weekly governance call and will lower the barrier of entry for becoming an RD.

It also clarifies some of the original proposalā€™s rules surrounding payment eligibility.

2 Likes
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Iā€™m in favor of this proposal! I believe it is closely aligned with the goals outlined in the June 22 Bi-weekly governance call and will lower the barrier of entry for becoming an RD.

2 Likes
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Hey everyone! Itā€™s been a long time coming, so Iā€™m happy to announce that weā€™ve finally implemented these Recognized Delegate payments for both StableLab and DAOplomats!

Our friends at Superfluid were kind enough to walk us through the process of setting up these automated payments using the 1inch DAO operations multi-sig. You can follow these payments using this link.

And remember this is just the beginning! We want to strongly encourage other delegate groups to join the program by following the processes outlined in these proposals. On that note, I think I will make a standalone post in the Recognized Delegates category that will walk prospective delegates through the steps they should take.

Thanks!