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DeFiCh / dfips

DeFiChain Improvement Proposals (DFIP) & Community Fund Proposals (CFP)
https://defichain.com
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DFIP-2208-C: CFP proposal fees should be in proportion to the amount requested & fee distribution to voters #211

Closed uzyn closed 2 years ago

uzyn commented 2 years ago

DFIP Overview

  1. Requester(s): @uzyn & @julianhosp
  2. Reddit discussion thread (optional): https://www.reddit.com/r/defiblockchain/comments/wutsko/dfip_cfp_proposal_fees_should_be_in_proportion_to/
  3. Proposal fee (50 DFI) txid: 9968a596bddc5b0d23d6b17a83c3863185a37ebd2350d1f3e45ede6bdfa0c2c2

Describe your proposal

DeFiChain are seeing more active CFPs with each voting round. While this is generally good for the growth of DeFiChain overall, it creates a few potential issues:

  1. There are very little at stake for requester to be submitting low-quality CFP and asking for huge amount of DFI. This is a major disparity of risk vs reward for submitting of CFPs.
  2. Voting requires time and effort from masternodes - not only in signing the votes, but time spent evaluating each one of the proposals.
  3. CFPs are less milestone-based than lump sum for the whole project. The fixed CFP fee of today is in fact a detriment to milestone-based or tranche-based CFPs as it costs more to CFP owners to be submitting for multiple tranche payouts than submitting once for a single large payout.

It is with the above that it is proposed that:

  1. CFP should involve a proportionate submission fee of one percent (1%) of requested amount, or 10 DFI, whichever is larger. A CFP requesting 20'000 DFI should involve a fee of 200 DFI.

  2. 50% of the fee should be distributed proportionately with all valid votes made, regardless if it is a yes, no or neutral vote, with the remaining 50% of the fee burned. This would require voting to be carried out on-chain, before that the entirety of the fees would simply be burned.

How this would help with the above issues:

  1. Risk and reward is now in proportion to the amount asked. This should encourage more responsible CFP submission.
  2. Masternode owners should invest more time understanding projects that request for higher payouts. The 50% fee distribution rewards masternode owners proportionally for the time invested.
  3. This also encourages CFP owners to ask for milestone-based amount rather than a a lump sum due to the fee involved. A project requiring say 20'000 DFI across 4 milestones could ask for say 5'000 DFI on the first proposal, paying 50 DFI instead of 20'000 DFI and risking 200 DFI. Masternode owners will also be more likely to fund the next milestones ask the CFP amounts are smaller with each tranche.

How does this DFIP benefit the DeFiChain community?

With the approval of this proposal, DeFiChain community could benefit from:

  1. Increased quality of CFPs being submitted.
  2. Less spammy CFPs.

  3. CFPs with more responsible sum requested.

    Non-obligation

    I understand that vote of confidence for DFIP carries no obligations by any developers to implement the proposals. DeFiChain is a community projects. Pull requests can be submitted by community and reserved to be evaluated for safety and general community acceptance.

itmlgife commented 2 years ago

$ defi-cli signmessage 8FzR1vtCgqp7moFnATtptcSZbgsRhsQjnz "dfip-2208-c-yes" H94osQKHHQbtOiQKzFwj/kUJm7w212GgSwhqOXjWTxEsNfIXolT4v3Xk6hJlTArkVCM6QC+TPgqpBv1WoWMANr0=

fredperry200 commented 2 years ago

signmessage 8N76tzAqah8JYDGN2nqhTHHemJJRd4gLK2 "dfip-2208-c-yes" H2g+vDekXN68WxY6fsKoWsEeD4yYVt96RwN+UX61zxgxFh9+ETI981k29fRM3fWetaYCSO3MGi2qtQEaCrp6wnU=

kunam87 commented 2 years ago

None