This is an updated version of the original proposal, introducing a fixed Governance Incentives (GI) budget to cap rewards and updating baseline reward options for successful proposals, presented for ranked-choice voting.
Summary
This Botto Improvement Proposal (BIP) aims to establish a formal incentive system for DAO stewards who successfully pass proposals through the Snapshot voting process. The goal is to encourage more active and quality participation in governance, enhancing the evolution and effectiveness of Botto's operational and creative frameworks.
Rationale
Active participation in governance is crucial for the decentralized and dynamic nature of Botto. However, crafting thoughtful, impactful proposals requires significant effort, expertise, and time commitment. Recognizing and rewarding these efforts can motivate stewards to contribute more actively, leading to a more vibrant and progressive governance environment. This incentive system will also aim to attract more members to take initiative, bringing diverse ideas and perspectives that could drive Botto's growth.
Proposal Details:
Eligibility
- DAO Steward: Any DAO member who submits a proposal.
- Successful Passage: The proposal must pass the snapshot vote with at least the required 66.7% supermajority and meet quorum requirements.
- Ineligible Participants: Proposers who receive a financial gain from their proposal are not eligible for a baseline reward. Additionally, working group contributors receiving monthly stipends are ineligible for any incentives on successful proposals.
Incentive Structure
- Token Rewards:A baseline reward for authors of successful governance proposals will be introduced, with the following options to be chosen via ranked-choice voting:
- 1,875 $BOTTO
- 2,500 $BOTTO
- 3,750 $BOTTO
- No change (no GI budget, no baseline reward)
- Funding Source: Rewards will be distributed from a newly established fixed Governance Incentives (GI) budget of 7,500 $BOTTO per month, valid for one year. The unused portion of the budget does not roll over month-to-month. This budget may be reviewed via a proposal in 3-4 months if needed.
- Cap on Rewards: The baseline reward sets the maximum number of proposals that can be rewarded each month, ensuring a cap is in place to prevent governance bloat and fatigue. This helps balance the incentive structure while avoiding excessive proposals purely for rewards.
Implementation Steps
- Proposal Submission: Stewards submit their proposals via the standard Botto governance channels. (Both on forum.botto.com and in the Discord). It is highly advised to first post it as an idea in the #ideas channel on Discord, as its own thread to gauge interest.
- Community Discussion: Proposals undergo a mandatory discussion period of at least one week.
- Voting: Voting takes place over a 72 hour window through Snapshot.
- Assessment and Reward Distribution: If a proposal passes, rewards are distributed accordingly.
Expected Outcomes
- Increased Engagement: Higher participation rates in DAO governance as stewards are motivated by potential rewards.
- Higher Quality Proposals: With incentives in place, stewards are expected to invest more effort in researching and crafting their proposals.
- Enhanced Decentralization: By encouraging a broader base of the community to participate, the governance process becomes more decentralized and reflective of the community’s diverse perspectives.
Conclusion
By implementing this incentive system, we aim to cultivate a proactive and engaged stewardship within Botto DAO, ensuring that governance remains a robust and dynamic contributor to Botto’s ongoing success and innovation. This BIP is presented with the hope that it will empower our community members to take a more active role in shaping the future of Botto.
