This proposal is to fund the first season of 1Hive Harvest - a seasonal celebration of work done by the 1Hive DAO, where contributors show how their work created shared value, and 1Hive shows its appreciation by streaming dat sweet, sweet Honey.
- Timeframe: rewarding value created between May 18, 2022 and August 18, 2022.
- Any swarm, working group, or individual can apply for Harvest Funding by creating a Signaling Proposal in the 1Hive Garden that links to a forum post showing work they’ve done during the time period, and how it created value for 1Hive.
- A snapshot of relative conviction for Harvest Funding proposals will be taken on August 18, 2022 at 19:00 UTC.
- The retroactive funding multisig will then set up HNY streams that vest over a 12-month period based on signaling proposal results.
- Harvest Funding recipients are free to distribute HNY streams among themselves in the way they think is best. A popular option used in the Pilot was with Coordinape.
- Proposals will use a Harvest Application Template similar to what was used in the Pilot. One update with the Season 1 application will be an expanded report on treasury, so we can better track budgets, funding sources, expenses, and working group treasuries across all contributors to the DAO.
In the Retroactive Funding Pilot, there were 6 applications that received a total of 77.5 HNY. Here’s the breakdown of where that HNY went:
- Gardens - 6.22% conviction - 37.66 HNY
- Quests - 1.50% conviction - 9.08 HNY.
- NFBeez - 1.37% conviction - 8.29 HNY
- Blossom Labs - 1.35% conviction - 8.17 HNY
- Treasury - 0.91% conviction - 5.51 HNY
- Buzz - 0.83% conviction - 5.02 HNY
In a follow-up poll in the forum, 80% of 1Hivers said “Hell Yeah” we should expand Retroactive Funding. Based on consensus in the forum, we are requesting 20% of the current Common Pool (1,575 HNY), split over 5 funding proposals, to fund this season.
The Pilot program showed that in a short period of time and for a relatively small amount of HNY, 1Hive’s swarms could put together data and examples that told a decent story of the value they created. However with much more time and much more HNY on the line in Season 1, we should raise our expectations for what constitutes a good proposal, and for what constitutes valuable work at 1Hive (forum post on improving from our Pilot).
1Hive Harvest at this funding level has the ability to kickstart our DAO’s growth by giving contributors due recognition and compensation for their achievements. It can also evolve our governance “brain” so that voting weight flows towards current contributors, allowing the DAO to evolve and self-improve.
In a time when many projects in this space have uncertain futures, 1Hive is lucky to have an extremely well-built economic system that will most likely outlive any of its current contributors. 1Hive Harvest can help us not only survive this down market, but thrive.
Why is Retroactive Funding a good idea?
- Value is easier to measure after it’s created. 1Hive can be more confident that HNY is being well spent compared to funding proposals that compensate work in the future.
- Better accountability and feedback. The community gets a more direct feedback system for signaling what it wants to see more of.
- Rewarding the right contributor mindset. The mindset that does best in this system is “what can we / I do that creates the most value for 1Hive?” The more competent people we have thinking this way, the more value we’ll create🧐
- Incentivizing long term growth. Compensating with vesting tokens means that swarms and contributors are financially linked to long term growth in the price of HNY.
- Improving DAO Governance In order for the cybernetic organism of 1Hive to self-improve, governance weight should flow in the direction of contributors currently creating the most value.
Expected duration or delivery date (if applicable):
August 18, 2022, 19:00 UTC - snapshot taken of Harvest proposals. Vesting streams will be set up shortly after.
Skills and previous experience in related or similar work:
Same Gnosis Safe / signers from the Retroactive Funding Pilot
Amount of HNY requested:
1,575 HNY (split into 5 funding proposals)
This is 20% of the Common Pool, the amount agreed on in this forum poll, on June 27, 2022 (date of proposal 1 of 5).
Ethereum address where funds shall be transferred:
Gnosis Safe, 4 of 10 signers
More detailed description of how funds will be handled and used:
Funds will be held in the Gnosis Safe until Harvest is complete in August. Streams will be set up using the Vesting App if ready, otherwise we’ll use Superfluid like we did in the Pilot.