Main questions or issues:
- $TRUST Smart Contract Status? Can’t be used we need to think of another solution, easy, accessible, sustainable, transparent, and in coherence with Trusted Seed’s current programs and services.
- Should we remint $TRUST back? How? Where?
- What could be the best way to apply a $TRUST increase beyond the Praise system?
- How can we incorporate it inside Regen Score features? Can we? Should we?
- How can we incorporate transparency in the tracking process of current and new $TRUST increases if any?
- Ideas for gamification
- New members with 0 regen score: 125k (standard number)
- New members with regen score: 125k + 10k
- NOTE: in the previous system, 125k was the standard # for everyone but we set a cap/max for each applicant to avoid whales
- Check out Matchmaking data if can be useful for $TRUST or vice versa
- We should prob just relaunch on Optimism with a new token
- The TEC just did an OP token migration if we want to check on how they managed that process
Documentation
Smart Contract link: https://xdai.aragon.blossom.software/#/trustedseed/
How to mint $TRUST: https://youtu.be/J7F5NcmwqLA
Some strategies that could be considered:
- Implement a Digital Tracking System: Tracking $TRUST scores and contributions allowing members to log their donations, membership dues, and received Praise, with the ability to track the history of each member's contributions and score increases.
- Reimplementing TRUST Smart Contract: Ensuring transparency and immutability, allowing for seamless tracking of contributions and score allocation.
- Gamification through Staking Mechanism: Introduce a staking mechanism where members can lock a certain amount of $TRUST tokens for a specific period in exchange for an increased TRUST score. This incentivizes long-term commitment and active participation in the Trusted Seed community. (e.x. https://dework.gitbook.io/product-docs/guides-for-contributors/browsing-daos-on-dework)
- Members Feedback Mechanism: Implement a participant feedback mechanism where members can provide insights, suggestions, and feedback on the allocation of TRUST score increases. This encourages transparency and community involvement in the decision-making process.
- Regular Reporting and Transparency: Establish a protocol for regular reporting on TRUST score increases and allocations, ensuring transparency in the process. This may involve creating a public dashboard or report that details the distribution of TRUST score increases and contributions.
- Token Distribution Policy: Define a clear and transparent policy for token distribution, considering the criteria for initial allocation of $TRUST tokens and subsequent minting process. This should ensure a fair and inclusive distribution among Trusted Seed members.
- Voting Mechanism Design: Establish a well-defined and secure protocol for the voting process. This involves determining the specifics of how votes will be cast, counted, and verified to maintain the integrity of the voting system. (Pairwise?)
- Governance Framework: Establish a governance framework that outlines the scope of decisions that will be subject to token voting. Clearly define the areas where token holders will have decision-making authority and the limitations of their influence.
- Community Engagement and Education: Educate the community about the significance of the token voting process and its impact on decision-making. Foster engagement by providing resources and support for members to understand the voting mechanism and its implications.
- Scalability and Future Growth: Plan for the scalability of the voting process to accommodate potential growth in the community. Consider how the token voting system can adapt and expand as the community evolves.
https://a16zcrypto.com/posts/article/designing-reward-systems-for-web3-governance/#section--3