Proposal Description and Rationale:
This proposal is to fund the second season of 1Hive Harvest - a quarterly retroactive funding for the DAO.
The proposal is for 10% of the Common pool to stream to contributors who created value at any time in the past, but that was realized by 1Hive over the last 3 months.
The purpose of Harvest is to improve the DAO’s collective decision-making ability by streaming governance tokens to the members of the community who are best able to govern a better future for 1Hive, and to reward contributors for creating value so that they’ll keep doing it.
The first season of 1Hive Harvest sparked a surge of governance activity after the 2nd of 5 proposals was disputed, and after 5 rounds of appeals in Celeste, was eventually rejected on the basis that splitting proposals bypasses the intent of the conviction voting parameters at 1Hive. On conversations that came out of this dispute, the Spending Limit at 1Hive was increased from 10% to 20%.
Harvest Season 2 Details:
- Timeframe: rewarding value realized between August 18, 2022 and December 16, 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 December 16, 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 is with Coordinape.
- Proposals will use this template to apply for funding.
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.
- Creating a culture of value creation. People at 1Hive can feel free to do work they think will bring value to 1Hive and be confident that they’ll be rewarded if it does.
- 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):
December 16, 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:
Multisig has been managing funds for both Season 1 and the Pilot.
Amount of HNY requested:
10% of the Common Pool
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. Streams will then be set up using Superfluid.