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Bounty: The Genesis Incentive Pool

inBig Spender

2 years ago

incentivepools

treasury

talismanwallet

Hey Polkadot Community,

Talisman is requesting that a bounty be funded to support ongoing development and marketing activities. In this proposal we make the case that Talisman to date has generated value greatly in excess of our costs (over an 8x return) and is seeking additional funding.

In order to ensure we are incentivised to create effective products that users really want to use we are asking for the majority of the funding to be on commission basis for tangible results our product generates. Instead of the treasury providing a subsidy for each individual roadmap item which we feel is a poor incentive that generates very limited value for the network. We believe a results based funding model is appropriate for Talisman as it creates a positive feedback loop that will compound the value we create for the Polkadot network over time.

It is a large bounty, yes! But less than 15% is guaranteed as payment, the rest is a potential commission that way may or may not receive during the 7 month duration of this bounty.

This bounty implements an idea called Incentive Pools:

Incentive Pools are a novel concept that I believe can enable the treasury to implement results-based funding and generate better outcomes for DOT holders than our existing approach. The Genesis Incentive Pool will provide a commission for acquiring new stakers, generate more demand for the DOT token than it costs, and accelerate Talisman's transition towards sustainability.

To wrap your head around this referenda I recommend you start here 👇

🎥 Video Explainer: What are Incentive Pools? — 13 mins

🎥 Video Explainer: The Genesis Incentive Pool — 15 mins + questions

📜 Proposal: A bounty for the Genesis Incentive Pool

Thanks for your attention!

See the original incentive pools post here
(not necessary to understand the latest, but had lots of community feedback)

Comments (15)

2 years ago

it's so big spend and under big risk. NAYS!

2 years ago

Strong NO, because:

It gives Talisman advantages that other ecosystem participants have no. And other teams will come for the similar advantages and will ask for another 1-2-3M DOT, its not effective spending at all.
1M DOTs - guys, come on! Are you going to invite 1 billion new users to Polkadot? Or one user will cost 1-2K$?
Operational costs 75k$ per month , and you are going to SELL all of this on the market on monthly basis? I think its better to wait for good times to invest 1M DOTs at better price.
You are a commercial company, why 100% of your costs need to be covered by Polkadot treasury. Add more paid features for your users , use validators and staking to earn for the operational costs.
"0.25 DOTs commission for each additional staked DOT bonded in a Talisman Nomination Pool" - 1/4 DOT for staking 1 DOT, what? this people will stake anyway , with Talisman or without , there are a lot of teams who can explain people how to stake without asking 0,25% for every dot they stake.
"Any commission received by Talisman" - its Polkadot Network commission, not Talisman, what you are suggesting just crazy.
The Talisman nomination pools - you can monitize your nomination pools as validators, it can be good reward for your hard work. This proposal will centralize Polkadot more, you already have 2 pools , and will have a resources to advertise more nomination pools its also not good. Diversity is the key for success for Polkadot.

- This proposal are steps to privatize Polkadot network according interest of one entity (Talisman) , don't like it. Its not a good idea at all.

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