Brainstorming Honey "Pots"

With the recent migration of Honey to xdai, and the launch of our minimally viable honey DAO I wanted to create a thread to start brainstorming proposals and processes that we can use with the basic conviction funding process.

The conviction funding process allows anyone to submit a proposal, which is great because its completely open ended. We can use the proposals to allow people to propose work which they might do in the future if its approved (with the expectations that if they don’t their future proposals are unlikely to get supported), or to recognize people for ad-hoc contributions that may not have been otherwise recognized (similar to a nominations process)… but one of the more interesting things we can start doing is thinking of mechanisms and processes that further distribute honey while incentivizing and prioritizing different forms of community contribution. This allows the DAO to delegate some of the distribution processes away from conviction voting into more narrow/specialized processes at the edges.

The basic idea is to define a process or mechanism, then fund that process or mechanism via conviction voting (one or more times), these mechanism can then be more narrow initiatives which can compete or be replaced over time as they become more or less relevant. They also do not need to be fully automated or decentralized, they can rely on a trusted party (or bot) to execute them, knowing that if they do not relying follow through on the intention the operator won’t be trusted in the future.

Some ideas to get us started!

  1. Honey Liquidity

We could deploy the geyser contract ampleforth created to reward people with honey who provide dai-honey liquidity on the uniswap instance we created on xdai. This will help establish a par value for Honey, and encourage people to help capitalize 1Hive/Honey.

  1. Social Cred

Increasing social interactions on discord and discourse can be valuable in attracting and onboarding new community members, and encouraging existing community members to be more talkative and inclusive.

We can do this by setting up a sourcecred instance, it doesn’t even need a dao it can just be a key which gets sent honey and distributes a portion of its balance each week.

  1. Dev Cred

Continuously rewarding code contributions to a select set of repos (probably honeypot, gardens template, conviction voting, dandelion voting, marketplace). The governance over weights and repos, can be pretty informal (eg beneficial dictator model), as its localized and has to be topped up over time.

  1. BrightID faucet

We can create a faucet contract which requires people to validate with brightid, then register and claim periodic distributions. The faucet could be topped up directly via conviction voting so long as we determine it’s a valuable way to onboard people.

  1. Nominations Bot

We could have a bot which monitors our nominations channel and gets topped up with honey via conviction voting. We can define some logic for how to calculate how much of the bots balance of honey a nomination should receive. We could look at the commonstack bot for inspiration https://github.com/commons-stack/CommonsStackBot

4 Likes

This is awesome Luke!

All of these ideas are great. Incentivising liquidity providers is super cool and really important, especially in the long term.

Unsurprisingly, I am a big fan of the cred ideas. Separating them out also makes a lot of sense. Of the two ideas, Social Cred will have the most impact on incentivizing participation in the 1Hive community.

One thing to consider with the cred ideas, source cred only measures contributions. Getting the addresses of contributors is its own challenge. For Dev Cred, this is not a big issue. In most cases, the contributors are known beforehand, but for Social Cred, the problem is much more significant. The BrightID faucet will be super helpful for this.

I have created a forum thread to discuss trialling Dev Cred

Really cool ideas!

Specially exited about the composability of Social Cred + Dev Cred + Nomination Bot + BrightID faucet as a way to create a more complex system on top where we have a kind of “baseball cards” profiles that can further scope the amount of Honey each member is allocated over time in relation to specific areas.

Adding on the five ideas above I think that could be interesting to allocate some amount of Honey to key stakeholder organizations that are aligned with 1Hive and that can help to shape the value proposition of the project.