Edit (11.04.22)
Here is the ongoing realms vote, closing on 2022-04-15T21:47:00Z: Realms
Yesterday, during the DAO Call, we talked about different topics regarding token distribution and handling rewards. @MetaVerse_Explorer also started a thread where we try to figure out whether or how we possibly should restructure $GRAPE as a token.
In this thread, I’d like to address the criteria for receiving $GRAPE based on Membership Class.
The monthly rewards per Membership Class aim at offsetting inflation in order for a Member to keep the same voting power so that it doesn’t get diluted. In order to keep one’s Role/Class, it is mandatory to meet the corresponding requirements. Right now, these are becoming a Member on Discord and holding your required $GRAPE either in:
your wallet and/or on realms, or
the Raydium LP
Since $GRAPE is a community token and its primary function is to give Members an opportunity to actively participate in the decision-making process of the Community, only tokens held (and used) on realms really server their intended purpose.
Therefore, I propose to only count $GRAPE held on realms for the eligibility of monthly Membership Class Rewards. This will only help us as a community because it potentially increases participation in votes and also increases the likelihood of reaching quorum.
Edit (10.04.22): Every other requirements stay the same.
This would in turn mean, that neither $GRAPE held in a wallet nor Raydium LP Tokens are counted.
I don’t see any downside with that though since,
we’re now much more precise with tracking tokens, therefore
Members need to hold their $GRAPE for Class Membership for the entire month either way, and
$GRAPE held on realms potentially help us whereas $GRAPE held in wallets don’t.
Bonus: Our voting power is shown directly on the Dashboard
I know that we talked about this a while ago but weren’t sure whether realms would work out. So far, I think we’re doing pretty well and I don’t see us switching tools anytime soon, so I this is a logical step for me. I’d love to hear your thoughts on this though.
I think locking your $GRAPE for your membership in Realms being the sole criteria in order to keep it (and receive the monthly emissions attached to it) is a great idea and I would support it.
The only downside I ( I see at the moment and) fear is that people that provide LP in Raydium may remove their $GRAPE from there if the above becomes canon , therefore the token’s liquidity will suffer even more.
(Of course the answer to this can be to buy more $GRAPE for LP in Raydium. In an ideal world every member could do this).
Yes, that’s also something I thought about. But since liquidity isn’t one of our more important objectives, I don’t see it as a problem. It could even be a net positive for us in terms of price stability and most definitely would solidify $GRAPE as a community Token that can be earned rather than bought.
as we discussed on tuesday, i think this is a great plan. One idea would be to wait on implementing this until we have the voter lockers in place that way we have a big migration along with our emission practices
So hypothetically, one can choose to not participate in discord/twitter/grape off-chain community at all and just turn up to a yes/no vote on realms to keep membership?
if this is what you are describing, it might be giant loophole?
It would be even better if everyone could be motivated to actively lock in realms. For example, only members locked in realms can participate in wl giveaways. Of course, this is just an example.
It’s as Dean said. Only $GRAPE held on realms count toward the eligibility for receiving Membership Class Rewards. Every other prerequisites, like Discord Role, should stay the same with this proposal. That’s why I phrased it that way. Maybe I should add this part.
I think this is a very valid point. If there is a incentive to vote i think it will motivate people to vote in realms, whether it is white lists or to be able to receive emissions for grape roles.
I can also see Takisoul point on people that stake their grape on raydium and will not want to lock their grape in realms .
One other point i would like to raise is that before i joined the dao i did not even know about discourse and unless you are active in the discord and check events/announcements you would not even know about the votes in realms. We need to educate the community about how they can contribute as a member other than through roles. Just my view
Locking will be a big topic in the coming weeks/months, yes! This proposal can be seen as a logical first step.
Regarding visibility: Every vote is now an ongoing Event in Discord. We also have channel #realms-voting. I’m not sure how we could improve here. Maybe you’ve got some ideas. Hit me up on Discord, if you like
Creating Events for ongoing on-chain votes was actually a suggestion made by different members because they wanted an easy way to see active votes
Maybe there is a different way in Discord, I don’t know.
Hm, we could start to tag @ DAO but since it’s a dedicated channel, wouldn’t it be easier to just change the notification settings?
Posting the link in Discourse is actually something I’d like to start, yes. That’s the reason for the placeholder post above. I had hoped to use some Discourse plugins by now to mark a specific post so that it gets pinned below OP but unfortunately we don’t have it rn. That’s why I thought that to create a placeholder post below OP to later use it.
I think it is a very interesting attempt to set up a lottery for each realms vote. After the voting is over, a lottery will be given to those who participated in the vote to send $grape, which is conducive to encouraging everyone to understand and participate in the voting activities of realms.
I think that having the votes as events is a good thing. It is an easy and digestible way for all members (I believe even non verified ones) can have a glimpse to what is the latest in our governance.
On the other hand, you could be correct about the dedicated role on this, so that anyone interested gets pinged whenever a new vote is up. ( to expand this to more than the DAO members; I am sure there are members out there that are not DAO members and are interested in this).
Perhaps, @legend can take a shot at this?
Also, @Dim_Selk I think this might be an insightful metric of how many of our members are expressing interest in our governance. (possibly even weed out lurkers that may want to apply for the DAO?)
With the recently passed proposal that introduces a change in how the eligibility for the Membership Rewards is determined, the following mechanisms will be in effect from May 1st:
Joining the Grape Discord is required to qualify for any Membership Class.
The Membership Class will be determined by the following:
– $GRAPE deposited on realms
– $GRAPE held in a Member’s wallet, or
– $GRAPE LP on Raydium
However, the eligibility for Membership Rewards is determined ONLY by 2 factors:
– $GRAPE a Member has deposited on realms, and
– whether the Member retained their Membership Class for the entire epoch.
The snapshot for Membership Rewards will be taken at the end of each epoch.
Therefore, a Member has time to deposit their rewards from the time they are transferred to their wallet until the time of the snapshot at the end of each epoch.
This means Members will have roughly 3-4 weeks to make their realms deposit. By doing so, their new $GRAPE will then be taken into account for the snapshot and thereby the eligibility for next months’ Membership Rewards.
Example:
Member A has 1300 $GRAPE in their wallet, and Member B has 1245 $GRAPE on realms; both are Gibbons. After the payout of the Membership Rewards for April, both Members have 1300 $GRAPE due to Member B receiving their 55 $GRAPE. Member A didn’t receive a reward since they hold no $GRAPE on realms; both remain Gibbons.
What happens then?
If Member B deposits their 55 $GRAPE from their wallet into realms and retains their Membership Class, Member B will receive Membership Rewards for the current epoch.
Member A can deposit their 1300 $GRAPE on realms to receive Membership Rewards for the current epoch at any time before the next snapshot is taken.
If both Members do nothing before the snapshot at the end of the current epoch is taken, neither Member A nor Member B will get Membership Rewards for that epoch.
