Reading [Temp Check] Community Contribution & Steward Performance (CCSP) Awards Campaign; I remembered an idea I had for an algorithmic “steward bonus program” smart contract for ENS (this idea isn’t really related to the above linked thread, but similar). This “bonus” smart contract would do the following:
- Maintain a “rolling average” of ENS monthly revenue (configured to observe past N months).
- Set a “target growth rate” (perhaps the DAO expects ENS monthly revenue to grow 5% month-over-month, as a base case)
- Set a “bonus rate”, whereby XX% of revenue received above the target growth rate is able to be withdrawn by the stewards multi-sig for monthly discretionary spending (maybe we’d let stewards withdraw 25% of this “above and beyond” revenue).
I think this mechanism has a few beneficial features:
- It aligns incentives. Stewards are incentivized to do things which build revenue (a proxy for ENS network growth), and are rewarded with discretionary budget.
- Bonus deposits can provide monthly funding outside the normal biannual budget process. This allows stewards to react quickly to growing trends.
- We should set the expectation that monthly bonuses are to be spent within the next month (within reason). Longer term initiatives are better budgeted via RFP or normal budget process.
I’ve noticed that the stewards (and DAO in general) are fairly conservative in spending money.
This is a noble trait, and something I personally appreciate, but I think it’s equally important that stewards are encouraged to “have fun” and take risks on interesting or “out there” ideas without the pressures of being labelled irresponsible bean counters.
To that effect, I think stewards should be trusted to spend their “bonus budget” on whatever they think is cool/interesting, without DAO voting, community consensus, or an “innate bias towards penny pinching” getting in the way. For example, maybe after the “Ethmoji spike”, stewards could commission some ENS emoji art pieces from contemporary artists. Or after the 10k club, they could donate $XXX,000 to some foundation which teaches math to poor kids. Or after a really successful hackathon, give personal payments to those members who organized the event. Something like that. Nothing too serious, but a fun and wholesome reward for having a big month, managed transparently and automatically with a smart contract.
Anyone think this is a good idea?