YIP-45: Add a bounty for proposing YIPs that are implemented

Summary:

Add a bounty for proposing YIPs that are implemented.

Abstract:

Implement a $500 yCRV bounty for proposing a YIP that reaches the ‘Implemented’ phase, payable from the treasury.

Motivation:

This should incentivize community members to propose useful YIPs which should be beneficial for the protocol. This is inspired by the 500 sUSD bounty that Synthetix pays out for implemented SIPs (https://github.com/Synthetixio/SIPs#contributing).

For: Start offering a bounty for proposing YIPs that are implemented.

Against: No change.

Poll:

  • For
  • Against

0 voters

10 Likes

I’m for! As stated by this great article: https://www.learnyearn.finance/start-here/its-time-to-build it’s time to build! As Elon Musk said “We should have fewer people doing law and fewer people doing finance and more people making stuff” (Finance as CeFI, not DeFI). We need to reward ideas, ingenuity and building things (even if it’s just proposals).

3 Likes

Why not make it payable in yUSD?

9 Likes

The only caveat I would mention is that many of the proposals receive significant input from several users– that’s the whole point of community governance. There also seem to be some proposals that are much more well thought-out than others, as some are essentially ready to become a YIP upon proposal, while others are a good idea in theory but are nowhere near ready for implementation.

I don’t necessarily have a good solution for that, and I like the idea of incentives for adding benefit to the community– I just don’t want for people to become frustrated when they are making many meaningful contributions to the community but ultimately seeing no reward for it.

5 Likes

Maybe the proposer can name multiple people to pay it out to, not just the proposer?

5 Likes

Yeah I was thinking this was realistically the only way to do something like this.

Again, I think it’s great to be paying out rewards for YIPs, I just don’t want people getting mad at each other over $250 or less :slight_smile:

1 Like

@dudesahn @Dark agree with both of you on this one

I’d like to see yUSD payable. Why stop at yCRV?
Imo either payout in vanilla stable coin or yUSD. YCRV is in the middle of the flow and seems weird to use it.

Perhaps attached to these payable yips we could have a gasless vote where major contributors to the yip, if they exist, are listed and the gov community vote on who gets what % of the $500? It would remove any perceived bias by the proposer?

2 Likes

I’m against this, unless an anti-spam measure is included in the proposal. I worry that incentivizing proposals, will lead to a surge of half-assed YIPs, mainly trying to capture the bounty. I believe a stake + slashing of funds should be considered, to avoid spamming of low-quality YIPs.

6 Likes

The bounty will be paid out evenly split between all listed YIP authors, not just the proposer. Should make that more clear :sweat_smile:

3 Likes

I doubt this community has a lot of people who would just start mass-proposing YIPs, it would kill your rep pretty quickly.

3 Likes