Poll: Incentivising participation in Governance and Community Calls with NFTs and POAPs

Goal: Use POAPs in our calls to test whether it affects participation. To reward active participants in Centrifuge events with NFTs and POAPs, and bring new users to Centrifuge

Background:

The community has told us on several occasions that they want to try POAPS and NFTs to see if it increases participation in governance. As a small experiment, we want to start by testing this for governance and community calls.

We also received advice from Raul from Polkadot council that it is something that is working for them.

Proposed Process

  1. We prepare a unique design POAP for each call (one design but with different words in it, like June 2022 governance, July 2022 community call, etc.).

The expectation is to use 20/50 POAPs each call (based on the numbers of people who attended the call), and to be safe, we will mint 50 POAPs for each call.

  1. For each call, we will generate a link that should be used for minting the POAP or the google form (collecting wallet of address) where users should fill out their wallet address and discord handle.

The generation link will be posted at the end of the call with a countdown timer (30-60 mins). This action permits us to increase and incentivizes the community to participate in our Governance or Community calls.

Because only users who will attend the call will know the link and they will have enough time to insert their Metamask wallet and mint the POAP.

These POAP should be limited not only in the number of minting but also in the timeframe of the request of POAPs. Users who will attend the call will be able to mint directly or leave their wallet address for future minting. We can reserve some POAPs (e.g., 10?) so that those who leave the wallet address can mint later on.

Opensea NFT:

We have around 15 NFT unused. We would like to propose distributing them only to valuable users once a month via monthly discussion and distributing during the Community Call.

NFT criteria:

  • Governance proposal (well structured and finalized): RFC, Poll, Proposal.

  • Active and valuable users (Call, Discord, forum).

  • For continued support of Centrifuge (Youtube,Twitter, Discord, elsewhere)

  • DAO

We will distribute only 1 NFT a month to the most valuable users for Centrifuge. The most valuable user is selected by us using the metrics like the discord messages, attendance of community or governance calls, activity on Centrifuge forum, etc.

That NFT already has their price on opensea, but there is a high demand for them as we have around 15 NFT left, and their price will increase in the future, so we will attract the attention of more users.

In the future, we could add the role of Centrifuge NFT Holder in Discord/Forum.

All written ideas are free to implement (POAPs - free, NFT already minted and design finalized).

What is the step-by-step process for the user?

(1). POAP NFT

Plan A (Direct minting):

  1. Attend the call.

  2. Follow the link POAP - Homepage

  3. Pass the captcha

  4. Insert wallet address

  5. Do the minting

Plan B (google sheet):

  1. Attend the call.

  2. Get the google sheet form after the call (The google form will be expired at some time after the call)

  3. Fill out the Google Form with wallet address and discord handle

  4. Wait for distribution/minting at a later time.

  5. Potentially, receive a special role in discord as active participants.

(2). Opensea NFT

Become the most valuable users for Centrifuge, be active in our discord, Telegram, participate in the governance voting, and also attend the governance/community calls.

The Council during the Weekly call will discuss and select the most valuable user of the month.

The winner will be announced during the Gov/Community Call and will be also included the winner name in the monthly summary.

  • Do you agree with the above process to incentivize participation in Governance with POAPs?
  • Yes
  • No

0 voters

  • Do you agree with the above process to incentivize participation in Governance with NFTs?
  • Yes
  • No

0 voters

This poll is open until 10th June.

9 Likes

Good day DrCao!

Nice, voted both polls - YES!

Good day Imdio, you are super fast, just posted it!!!

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DrCao
I have a question about Opensea NFT.

Are you talking about these awesome NFT? :point_up: :eyes:

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this is a dicord poll? I don’t have to connect my wallet?

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You should not connect anything.
Just vote Yes or No and leave a comment or feedback if you would like to leave it here :wink:

P.S. If somebody will ask you to connect your wallet - ban him immediately.

1 Like

Hello mate, no it’s a Forum poll :grinning:

You don’t need to connect any wallet to vote here - just vote in the two boxes, if you support the idea of rewarding the community with NFT’s for active governance participation.

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Yes, how do you like them? I like them very much, they are so cool!!!

Interesting idea. POAPs would be an good way of distinguishing regular call attendees imo :+1:

Is there a future utility planned for the NFTs? Noticing that the metadata for the 1 CFG NFT is centralised while the metadata for the other 3 is frozen :face_with_monocle: :male_detective:

1 Like

I have an idea . Can we have a contest for artwork to improve on those NFT’s ? Could easily be done on twitter to engage the community and have them vote for top 5 or something. At least then they be attempting to win something “they” wanted . :slight_smile:

1 Like

you can vote without connecting to any wallet, thanks for your support and participation :slight_smile:

Good idea, there might be some utilities for the NFT but we should think about it. Which CFG NFT did you check?

Interesting, so the community will help with the design of the NFT? I don’t know how many artists we have in our community, but it is definitely an interesting idea if we have enough contributors! Did you know artwork as well?

See below, probably nothing but was curious all the same:


CFG NFT Metadata 2
CFG NFT Metadata 3

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Great idea! My vote is in.

For everyone who hasn’t voted yet please cast your vote only for “Yes” or “No” and don’t click on the question

1 Like

Very good idea mrwhite but instead of editing the existing NFTs I would prefer to see another edition of them. This would give the “NFTs v1” more value

1 Like

I voted both of the propositions.

Thanks SolomonLight. Do you have any proposal how to motivate the community to actively participate in ecosystem calls and especially in governance?

Got my vote, great idea ::

1 Like

While I like the idea and think it’s worth a try (I voted yes to both poll questions), I’m not sold that POAPs will increase attendance / participation in community calls.

I’ve been in crypto since 2017 and have been full time at it since early 2020. Once thing I’ve noticed as a recurring theme is that crypto is a big blackhole for time. Let’s compare crypto to other things you can invest in, like stocks. If I buy some Apple stock, that’s pretty much all I can / need to do. Buy the stock, hold it, hope it goes up in value, and sell for more money at a later date. Sure, I can sometimes participate in a company’s annual shareholders vote via Proxy Vote, but that’s once a year and it only takes about 1 minute to complete.

Crypto, on the other hand, requires A LOT more time if you’re going to be a valued member of the community. Sure, you can just buy a token, hold it, hope it goes up in value, and sell it at a later date. But that’s not what crypto is about. Each project (token) is a community, much like this community. The project leaders / devs WANT owners / users to be active in the community. Interact on Twitter. Communicate in Discord. Converse in Telegram. Vote on snapshot. Etc, etc, etc… This is a good thing since it’s part of the ethos of crypto. Decentralization! Power to the people!

And this is all well and good if you’re invested / part of a few projects. But, what happens when you’re involved / invested in 25 projects? 50 projects? 100+ projects!? All of them requiring and requesting your time. It basically becomes impossible to keep up with them all and so you only pay attention to a few (if any). Because at the end of the day we all only have so much time to be in the cryptoverse before life in the real world demands our attention.

All of this to say, it’s very tough to capture a slice of each person’s 24 hour pie. There is a lot of demand for it (especially in crypto) and not a lot to go around.

So, will a POAP increasingly encourage people to attend / participate in Centrifuge calls? Who knows. I guess we’ll find out. But it will be tough for the reasons I mentioned above.

I’ve got more thoughts, but will stop before this stupidly long reply gets any longer. :sweat_smile:

5 Likes