I had a thought today - as usual I hear the sighs now - regarding how Maker could take advangate of the token farming craze that could help us in different ways.
Consider making one or more MKR tokens to take advantage of this.
- Those of us participating in forums basically get rewarded not just in DAI but say 1/5 of this new governance token.
- Those with vaults get another 1/5
- Groups or individuals doing actual development 1/5-2/5
- Another 1/5 for market operations (i.e going into the reserve surplus fund)
The above numbers are arbitrary. The point here is that governance could mint another 1M say MKRG or MKRC and then give those away based on some above split as compensation for work done on the protocol and to people who have vaults open.
Additionally registered sourCRED focum wallets that have MKR deposited in governance should get an additional multiplier based on the fact they don’t just participate in forums but also actually have MKR in governance and vote. The key point being a vote is what garners the multiplier.
Since we are doing the sourCRED report weekly perhaps we could do the distribution weekly.
Finally when issued the statement that goes with the MKRC or MKRG is that eventually the MKRC and MKRG will be able to participate in governance directly (how long this takes to integrate or how much weight up to MKR governance proper). Since we are already working on DSChief changes. I am not saying we have to include this in the upcoming revision to DSChief but rather than seeing comp farming as a problem I think we should take advantage by minting a second MKRG/MKRC coin (maybe even a couple MKRC going to vault owners, MKRG going to sourCRED folks). Don’t get me wrong I am not coupling this with sourCRED because I am #2 in cred or earnings but because I think it will help provide a reward and compensation route greater than DAI and we can directly see who is doing what simply by looking at MKRG and MKRC. We also create greater value for the eco-system.
The idea of parsing some of this out to MKR holders at this point I am mixed on. I think they should get a piece - but honestly I am thinking more of trying to create multiple reward models to reward new contributors here as well as our vault holders. The split is arbitrary but I wanted the same amount of new MKR to go to people here in forums, as well as 2x this to the real developers, EPCs, as go to the vault holders.
Remember the key way to make this valuable is to ‘drip’ it out from the start vs. flooding. I am not sure the market will bite on this but I toss it out as another positive idea to create value that rewards participation and work as well as vault owners. In the end MKR holders will and do benefit not just from vault owners that take out loans but everyone contributing to helping to grow Maker and make it more robust>?
I think to make this effective we need to strike while the iron is hot so ideas on how to do this fast and easily are welcome.