Governance Recognition Reward
Summary: The Pillar Project DAO Governance seeks to establish a reward system in which to incentivize, recognize, and honor governors that have made outstanding contributions to the project. Rewarding volunteers is an important part of retention. Examples of noteworthy contributions include but are not limited to: initiative, creativity, ingenuity, resourcefulness, inventiveness, and enterprise. Recognition rewards acknowledge and celebrate significant achievements made by governors that positively impact the Pillar Project.
Examples of governor involvement that might warrant a reward nomination include but are not limited to: creating video content, editing websites, creating websites, creating marketing memes, participation in YouTube influencers interviews, significant social media engagement using Twitter, Facebook, Tiktok and blog posts, proposal entries meeting the submission requirements, approved proposals, writing articles promoting the project for publications such as Medium, and significant discord contributions as determined by rankings and engagement.
Abstract: If this is implemented, the DAO will disseminate the agreed upon value of Pillar to the award recipient at the end of each month.
Specifications: The Reward process is as follows:
- One or more governors will nominate a fellow governor for the Recognition Award by submitting the “Idea” to the forum with at least one other governor’s support. This support will be shown through a forum reply to the original nomination. Meaning, at least two governors must believe the nominee’s actions are reward worthy.
- The nomination submission will include a detailed explanation of the significant contribution the nominee has made to the project. Include all possible metrics such as social media impressions, website engagement, and time spent on the design and creation of the contribution.
- The nomination must include the suggested amount of reward to be given, not to exceed 20,000 plr for any single reward. Factors to consider when suggesting the amount of reward might include the level of impact the contribution has made on the project, a reasonable USD value of the contribution, and/or direct comparisons of equivalent actions, and current value of Pillar.
- The nominator will inform all governors using Discord, # governors-house channel, that a nomination for the Governor’s Recognition Award has been submitted as an “Idea” in the forum (http://gov.pillar.fi/). Tag @Governor to ensure all governors receive the message.
- The governors-house community will have 7 days from the time of notification in Discord of the reward nomination to comment in the forum.
- At the close of the 7-day discussion period the nominator will aggregate the responses to determine if sufficient support exits for a formal “Proposal”.
- (a) Sufficient support does not exist; therefore, the nomination is closed.
(b) Sufficient support does exist; therefore, the nominator moves the “Idea” to a “Proposal” making any recommended changes regarding rationale or reward amount. - The Proposal will be open for discussion in the forum for 3 days, allowing time for any last-minute discovery, after which the Proposal will be moved to a formal governance vote.
- (a) If the Proposal vote passes the nominee will be rewarded the agreed upon funds within 5 business days.
(b) If the Proposal vote does not pass, the process ends. - No individual governor will be permitted to receive more than two Governors Recognition Reward each month to prevent single users from draining the treasury.
Motivation: A volunteer reward system encourages quality participation and retention.
Specification: Recognition rewards will be given in Pillar and awarded on a sliding scale with no single award to exceed 20,000 plr based on the 5/8/2021 rate of $0.07 USD with no more than two rewards per month for the same governor.
Benefits: Rewarding quality participation will increase governor involvement and interaction, will improve governor’s confidence, and increase quality proposals and ideals.