This proposal seeks a budget allocation of 50,000 GAL tokens from the Galxe DAO treasury to fund rewards for Space Season 5, running from April 15th to June 25th, 2024. These tokens will be evenly divided between GAL rewards and Galxe Smart Balance rewards.
Motivation
Building on the successes of previous seasons, our aim is to enhance community engagement and participation. The updated rewards structure and distribution method are designed to maintain incentives, fostering a more active and engaged community within the Galxe ecosystem.
Specification
Overview
The proposed funding will cover:
GAL token rewards for active participants of Space Season 5, distributed through Leaderboard.
Allocation of rewards to users’ Galxe Smart Balance accounts, enhancing utility and flexibility within the Galxe ecosystem.
Scope
This proposal pertains specifically to rewards for Space Season 5, spanning from April 15th to June 24th, 2024. The allocated tokens are solely dedicated to the specified reward categories.
Reward Distribution
For Space Season 5, rewards will be distributed weekly over an 8-week period. Distribution will occur upon completion of the top 1000 in the leaderboard based on ranking.
GAL Rewards: 25,000 GAL tokens
Galxe Smart Balance Rewards: 25,000 GAL tokens
Success Criteria
Sustained or increased engagement in loyalty campaigns.
Positive community feedback on the updated rewards structure and distribution approach.
Expansion of the user base and overall Galxe ecosystem.
Enhanced understanding and appreciation of Galxe’s vision, offerings, and products among users.
Timeline/Budget
The budget for Space Season 5 is set at 50,000 GAL tokens, with rewards distributed at the end of the season.
I think the reward ratio can be adjusted. GAL Rewards: 35000 GAL tokens
Galxe Smart Balance Rewards: 15000 GAL tokens
Because Smart Balance Rewards feels like they won’t be used up at the moment, gas fees have been significantly reduced after the protocol update. Or in the future, the Milky Way may introduce more cases of using Smart Balance Rewards？
Only top 1000 in the leaderboard will get the reward? How about comparing the activities of those users who interacted with galxe after the Seasons 1-4 ended and prior to that. Then youll have an idea of who the real proactive galxe users are. How about giving some special rewards or recognition for those proactive users who are not only active during those seasons with GAL rewards (as far as i remember there was non given since the start).
Excited!
I just wanted to give my feedback on your proposal and budget for SS 5:
First of all, I like how you’re aiming to boost community involvement and keep things lively.
The 50,000 GAL tokens budget sounds reasonable, and the timeline looks doable. Also splitting this pool of tokens evenly between GAL rewards and Galxe Smart Balance rewards seems like a fair deal for every astrounaut.
Overall, it’s a solid plan to keep things buzzing during SS 5! Furthermore, I feel that this season will be better than previously because the experience of involvement in previous seasons provided a lot of useful information for the team and feedback from participants was heard, IMHO!
