This proposal aims to secure a budget of 45,000 GAL tokens from the Galxe DAO treasury for the rewards of the Galxe Community Space’s third season, running from October 9th to December 24th, 2023. The tokens will be divided into two categories: 50% for leaderboard rewards and 50% for Galxe Smart Balance.
Motivation
Building on the success of Season 2, the objective is to sustain and elevate community involvement. The introduction of Galxe Smart Balance aims to offer additional utility and flexibility to users, thereby encouraging a more robust and long-term commitment to the Galxe ecosystem.
Specification
Overview
The proposed funding will serve two primary purposes:
Rewarding active participants based on their ranking in the loyalty points leaderboard.
Funding users’ Galxe Smart Balance accounts as rewards, which offer flexibility for various uses within the Galxe ecosystem.
Smart Balance
Galxe Smart Balance rewards hold significant value within Galxe itself, especially as a way for active users to have a seamless experience using the platform due to gas fees being covered across all chains. More importantly, it can be used to acquire Galxe Passport, Galxe Web3 Score, claim token rewards, and provide access upcoming features in Galxe 2.0 — including Galxe Premium features.
Scope
This proposal covers the rewards for Season 3, spanning from October 9th to December 24th, 2023. The tokens will be used exclusively for the two aforementioned categories.
Reward Distribution
Leaderboard Rewards (22,500 GAL tokens)
Top 1-3 users: 1,250 GAL tokens (1st: 700, 2nd: 350, 3rd: 200 GAL)
Top 4 - Top 1% (7 users): 700 GAL tokens (each user gets 100 GAL)
Top 2-5% (40 users): 3,200 GAL tokens (each user gets 80 GAL)
Top 6-15% (100 users): 5,000 GAL tokens (each user gets 50 GAL)
Top 16-30% (150 users): 3,750 GAL tokens (each user gets 25 GAL)
Top 31-50% (200 users): 3,000 GAL tokens (each user gets 15 GAL)
Top 51-100% (500 users): 5,600 GAL tokens (each user gets 11,2 GAL)
Galxe Smart Balance (22,500 GAL tokens)
The distribution will be communicated at a later date, based on leaderboard standings and any additional criteria introduced during Season 3. The amount of users in the leaderboard that will receive a Smart Balance allocation depends on the amount deemed to bring the most positive impact to as many users as possible, as well as considering the pricing structure of any upcoming Galxe Premium features in the future.
Success Criteria
Sustained or increased user engagement in loyalty campaigns.
Positive community feedback on the new Galxe features.
Growth in Galxe’s user base and ecosystem.
Further user education about the Galxe product, features and vision.
Timeline/Budget
The budget for this proposal is set at 45,000 GAL tokens. Rewards will be distributed at the end of Season 3, during the last week of December, 2023.
I like the proposal, but I have one suggestion regarding the distribution. I think instead of dividing the total amount into equal portions, it would hamper the spirit of the community gained from season 2. As the reward is now significantly less. Instead, I would suggest that 70% of the reward be distributed according to rank and 30% for smart balance. You can increase the smart balance portion in the subsequent seasons.
As much as I agree with this proposal… I still feel like the leaderboard reward should be reviewed again. I assume, at least everyone will want to at least get to the top 1% and different circumstances might restrict them. 11.2 GAL seems too low for a 3-month grind.
Question: Will those included in the leaderboard reward be included in the Smart Balance reward also or it’s the other way round?
I dont agree with this purposel i think everyone who is participating deserves to get rewarded. Second thing if your doing equal amount of weights to both community reward and smart balance i would urge do it with 80:20 ratio where 80 percent reward goes to community reward and rest for smart balance.
Firstly, of course, I would like to see the implementation of Galxe Smart Balance before the start of season 3. So that participants correctly perceive information about Galxe Smart Balance and have not only an idea about it but also experience in using it.
Looking back on the experience of two seasons - budget appears appropriate!
Overall, I support this proposal, because it demonstrates a thoughtful and organized approach to community incentives, with a focus on long-term engagement and utility for users within the Galxe ecosystem.
Thank you for presenting this comprehensive proposal for the third season of the Galxe Community Space. I appreciate the detailed breakdown of the reward distribution and the clear objectives set for this season.
It’s commendable to see that Galxe tools are being actively promoted through the loyalty program. This strategic move can significantly enhance the community’s understanding of the service. By intertwining the rewards system with the core functionalities of Galxe, we’re not only incentivizing participation but also fostering a deeper connection between users and the platform.
For the upcoming season, I’d like to emphasize the importance of introducing tasks that challenge our users in meaningful ways. While leaderboard rewards are a great motivator, the tasks associated with them should be designed to elevate users’ understanding of the underlying technologies that power the Galxe project. As we’re on the brink of inevitable technological advancements within Galxe, it’s crucial that our community is not just engaged but also educated.
By integrating tasks that delve deeper into the nuances of our technology, we can ensure that our users are not just passive participants but active contributors who understand and champion the vision of Galxe. This, in turn, will lead to a more informed and cohesive community, ready to support and drive the project’s future endeavors.
In conclusion, while the proposed reward structure is well-thought-out, let’s also focus on the quality and depth of tasks for this season. By doing so, we can achieve a dual objective: rewarding engagement and enhancing technological understanding.
