Founder’s Node Governance Proposal: Referral Incentive System for Ecosystem Use | Gala Games | February 2024
A new proposal has been presented in the spirit of fostering innovation and collaboration within the Gala Founders Node ecosystem. This proposal is a direct response to community feedback and highlights our collective journey to improve network growth and engagement.
Proposal overview:
Central to this proposal is the introduction of a recommendation system designed to encourage ecosystem support activities. By participating in token burning activities, users contribute to the sustainability of the ecosystem and encourage long-term Founder’s Node support for the ecosystem. Recognizing the importance of community-driven growth, the proposal outlines mechanisms through which actions taken by users can potentially benefit those participating in the ecosystem.
Using the flowchart above, User A refers User B to the ecosystem, at which point User B refers User C.
If the Founder Node approves the proposal, when User C initiates the burn, the account that recommended it (User B) will receive a mint fee equal to 8% of the burn amount. The account that recommended USER A will receive an amount equivalent to 2% of the burned amount. This initiative aims to encourage broader participation in ecosystem development by fostering a more engaged and collaborative community.
This does not affect the Founders Node emission rate, but can be viewed as a recommended burn rebate for ecosystem support measures.
If there is no referrer, no referral video refund will be provided.
yes:
User A refers to User B.
User B refers to user C.
User C takes action to initiate the burn of 1000 $GALA.
User B receives a mint allowance of 80 $GALA.
User A receives a mint allowance of 20 $GALA.
Qualifying Actions:
- Buy via video
- gas bill
- Channel establishment fee
memo: All previous recommendations will still remain part of this system. If you have previously referred a user and that user is part of your account, you may receive a referral bonus based on that user’s $GALA burning activity.
Main Content:
- Recommended Rewards: The introduction of a referral reward mechanism encourages existing ecosystem participants to involve new users, improving the robustness and activity level of the network.
- Incentive Structure: Focusing on on-chain activity and excluding connection activity makes the incentive mechanism transparent and simple. This clarity is important to maintain the integrity and purpose of the incentive system.
- Implementation Schedule: With a commitment to agility and responsiveness, the proposed system will be implemented within seven days of approval. This rapid deployment schedule highlights the ecosystem’s commitment to innovation and timely improvements.
Community and Governance Participation:
In the spirit of transparency and collective decision-making, this proposal will undergo thorough discussion within the Founder’s Node Operators. There will be at least one AMA on this topic to gather feedback so that the proposal can be improved and tailored to the community’s vision and needs.
Voting options:
Voting options are currently as follows: However, it may be amended through discussion prior to the governance vote.
yes: I support the implementation of the proposed referral incentive system, recognizing the potential to improve ecosystem sustainability and community engagement through incentive token burning.
no: I do not support the current proposal. I believe that the proposed referral system and token burn incentives may not be aligned with the long-term growth and engagement goals of the ecosystem.
forbear: I have decided to abstain from voting on this proposal. While I acknowledge the importance of community-driven planning and ecosystem sustainability, I need more information or am neutral about the impact of the proposed referral incentive system.
conclusion:
This proposal represents a strategic step towards leveraging the full potential of the Gala Founders Node ecosystem, encouraging active participation and rewarding contributions that drive the ecosystem forward. Through collaborative efforts and a shared commitment to innovation, the ecosystem can continue to evolve, providing more value and opportunity for all participants.