The SourceCred trial has reached one month! Speaking for the SourceCred team, I want to thank everyone that has opted in, provided feedback, asked good questions and not made this harder by attacking the system.
While the working group is generally satisfied with results so far, we have identified a couple areas for improvement. To improve score quality for newer contributors, we have scoped out a new feature that SourceCred is currently implementing. We have also decided to increase the amount of DAI distributed each month from $5,000 to $10,000. This should give us better insight into whether SourceCred is incentivizing greater participation. Below is a review of the first months’ results, rationale for the payout increase and an explanation of the new feature.
As I shared on the June 18th Governance and Risk meeting, the trial has gone roughly as the SourceCred team expected. As the Maker governance community is relatively small, high trust and known for its civility, we did not expect overt gaming or drama. We were right We also suspected that $5,000/month worth of DAI may not be enough to financially incentivize many contributors. This also appears to be the case. As seen in the chart below of total Cred created since the beginning of the forum, Cred created has actually decreased in the past month.
While this downtrend is likely unrelated to SourceCred, and simply activity from Black Thursday leveling off, our impression is that contributors are not generally increasing their participation in response to the payouts. This mirrors SourceCred’s own experience dogfooding SourceCred to pay its own contributors. As seen in SourceCred’s payout history, it also started out paying conservatively, and needed to increase payouts before contributors responded with meaningfully higher engagement.
By increasing monthly payouts to Maker contributors from $5,000 to $10,000 a month worth of DAI, we hope to make the payouts large enough to see increased engagement (more quality content).
We did observe some light brigading in posts related to new collateral applications. This was not too concerning, as it did not appear to be intentional, and the amounts of Cred and DAI involved were relatively small and unlikely to be claimed. This did however lead the working group to collaborate on a new feature design that mitigates this issue and improves Sibyl resistance generally.
To mitigate brigading and other forms of low-quality posting by new contributors, SourceCred is implementing a feature that utilizes Discourse’s Trust Levels. Users will need to attain a certain trust level for their likes to create Cred. Once a user attains the required trust level, their likes will create Cred, creating a “bounty” of sorts to attain that level.
Note that Cred scores may change with algorithm changes, and that overt gaming may result in reduction of Cred score. DAI payouts, including those posted to the forum but not yet sent on-chain are immutable and cannot be taken away.
If you have any questions or concerns about the scores, payouts, data or presentation thereof, please don’t hesitate to ask!