In light of Luigi’s response let’s drop this proposal idea and write a separate non-Faucet-related proposal including these ideas. Doge has volunteered to outline the idea for the devs and we’ll have something up to hash over and comment on by Wednesday Feb 3.
We’ve been debating on and off what to do with the Faucet.
The payout is dwindling.
It’s been gamed.
We just aren’t that into it any more.
Blazar created the 1Hive Welcome Bounty, for new users, which awards 1 xDai.
This has saved us all a lot of time and energy explaining to new people to go introduce themselves, what the wiki is, and what even am Honey, as well as sparing us constantly sending new people xDai to run their transactions.
If we have a separate token that operates the Faucet we can encourage involvement and interaction with the platform more than just the Faucet drip. We could create Quests, which I see is something already happening, and the Quests, instead of paying Honey directly could pay in Nectar, I’m thinking a plain erc20, which then could be traded, staked, HODLed, or used to get Honey from the Faucet. I don’t think it would be crazy hard to modify the Faucet to have a variable payout. This would add an element of chance to the Faucet, which would encourage speculation in Nectar and create more excitement for Honey.
This would give us an exciting new token to play with.
We could use Nectar to reward liquidity poolers of Honey on Main in rather substantial airdrops, then loop back and pay Nectar on staked Nectar, for example.
We could use this same coin as a reward for various Quests and Bounties.
Since it will be redeemable for at least a certain amount of Honey it will always have a base value relative to Honey. The speculation would come from its variable value at the faucet. Sure it’s always worth .01 Honey, for example, but maybe it will pay .05, or .1, or maybe even more. This token can be raffled, airdropped, paid as staking rewards, and otherwise distributed without directly impacting the value of Honey, other than to generate excitement and active trading.