FIP-2 Reward for proposing a successful FIP

Governance Proposals FIPs
1

Summary:

Propose FIP-2 for the minimum 5 day discussion prior to being submitted for snapshot to vote. FIP-2 would require, if passed, that authors of successful FIP are granted a bounty of $500 USD worth of FXS.

Background:

Taking the time to make a proposals is costly to individuals or groups - deep thinking, seeking and engaging with feedback and putting social credibility on the line when making a FIP is valuable. Making FIP’s that the community agrees with and passes are vital to the continued existence of the protocol and should be encouraged.

Abstract:

It is proposed that the authors of each passing FIP (to begin after this proposal) be rewarded with a Grant of $500 USD worth of FXS from the community fund - the amount split between the authors if there is more than one author.

It is also proposed that Hameed be retroactively rewarded $500 USD worth of FXS from the community fund for authoring FIP-1.

Motivation:

At present there is no incentive for making Frax improvement proposals - FIP-2 fixes this.

For: Authors of passing FIP’s be rewarded with a bounty of $500 USD worth of FXS from the community fund (split between them if there is more than one) - and Hameed be retroactively rewarded $500 USD worth of FXS from the community fund for authoring FIP-1.

Against: Do not create rewards for FIP authors at this time.

1 Like
2

Make $500 a parameter that the community can easily vote on occasionally.

3

@Mark11 - thanks for taking the time to write this up. I am supportive of this.

While I appreciate the retroactive reward, it’s unnecessary. We can keep this clean and do it on a going forward basis.

1 Like
4

What do you think of an NFT for example each author of a FIP proposal be recognised with a unique NFT bearing the FRAX logo and FIP-#?

5

Hi Jony - this won’t lock the $500 amount in stone - it could be updated by the community at any time through a subsequent FIP

6

What is the definition of an FIP? Is every proposal that goes through a governance vote considered a Frax-Improvement-Proposal?

7

Yes - this would reward every vote that is successfully passes