Link to Proposal in the Honey Pot: Gardens
A key short term goal in the High Level Direction for 1Hive is to build a better compensation plan that supports the price of HNY and aligns everyone in the community. One piece of this plan is retroactive funding, where contributors get vesting HNY based on value they’ve created for 1Hive in the previous time period.
This proposal is requesting 1% of the Common Pool (77.5 HNY at time of proposal) for a pilot program. HNY will go to a 4 of 10 multisig Gnosis Safe with active 1Hive contributors in different swarms.
How will Retroactive Funding be distributed?
- The pilot will look only at value created this year: January 1, 2022 to April 30, 2022.
- Any swarm, working group, or individual can apply for Retroactive Funding by creating a Signaling Proposal 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 supporting Retroactive Funding signaling proposals is taken on May 15, 2022 at 01:00 UTC.
- Retroactive funding multisig will then set up Superfluid HNY streams for a 6 month vesting period based on signaling proposal results.
- Retroactive funding recipients are free to distribute HNY streams among themselves in the way they think is best. A good option is with Coordinape.
If the community agrees this pilot does a good job at aligning the 1Hive community and distributing value, a second retroactive funding proposal can supplement HNY streams from this pilot proposal, and the program can be replicated/iterated on each quarter.
There are SO many benefits to an effective Retroactive Funding program!
- 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 the community will agree creates the most value for 1Hive?”
- 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.
- Ideal governance distribution. The cybernetic organism of 1Hive is self-improving, built to naturally evolve over time. The best people to accumulate governance in 1Hive are the people and working groups that are currently creating the most value.
Expected duration or delivery date (if applicable):
Aiming to have retroactive funding streams set up by May 13.
Gnosis Safe signers: