This post aims to renew the Delegates Incentives Program from September to December, initially approved from May to August.
Early May, PGM-33 was submitted to incentivize active delegates in the Paladin DAO, using the following eligibility criterias:
- Governance participation: Minimum 80%
- Obligation of transparency: Explain voting rationale
- Delegation Threshold: Minimum 10 000 hPAL delegated from 2 stakeholders
- Recognised Delegates have to self-report on a monthly basis in this thread in order to get their incentives
Removing an additional requirement mentioned in the initial proposal as it can’t be taken into account for now, which is to be a registered member of the association since it’s not live yet.
This proposal aims to evaluate the Paladin delegates status & spending over the past months, as well as propose to renew this program for an additional 4 months.
The PAL distributed per delegate is defined using this formula, as described in this comment post:
f(x) = sqrt(x^(1.27718))+641.607
As the PAL price was 0,165$ when PGM-33 was approved (up to 16,5k$), the max budget proposed is increased by 2x, adapting to the current market price (0,088$) and retaining a similar compensation value.
- Max budget approved: 100 000 PAL
- Active delegates eligible: 1 (dydymoon.sismo.eth)
May: 0 PAL (I was an active delegate, but forgot to report so didn’t received PAL)
June: 4 000 PAL
July: 3 909 PAL
August: 3 958 PAL
Total PAL spent: 11 867 PAL
As my participation can be tracked on the forum and snapshot space during May, an additional 4000 PAL will be required for this month. If approved, the overall spending for the first period will be 15 867 / 100 000 PAL.
PGM-33 mentioned 2 eligible delegates and was aiming for 5 by the end of August.
Considering no other delegates self reported during this period, the amount of eligible delegates in the recap was reduced to 1.
The goal of 5 eligible delegates wasn’t reached, but the following reasons can justify a renewal:
- Active delegates participation is important for the DAO, so it needs to be rewarded
- @Kene_StableLab reached eligibility in this month & self delegated for September
- According to Boardroom, 4 addresses currently have 10k+ PAL from 2+ delegators
- Some community members started contributing & might think about becoming delegates
While 4 addresses meet one of the four eligibility criteria, we can see by checking data on Boardroom & Karma, that 2 of them don’t reach the minimum participation needed.
The table below is looking at the voting participation per delegate & amounf of active delegates. PGM-33 also mentioned offboarding inactive delegates from the delegation portal but this wasn’t executed yet, so here is a recap about updates required there.
These data have been found on Karma and Boardroom to evaluate the delegate status:
- Jakelynch, WilliamX, Miaki, Will and Avi from Flipside published their delegate intro a long time ago but are not active anymore, and @Starny has stepped down of his delegate role to focus on Paladin community growth in the team so these 6 can be removed from the delegate portal.
- @TokenBrice is invited to comment if he’s still interested to be involved in Paladin, and if yes, explain how his participation will be improved to become active delegates. (Will be removed without answers before this proposal is voted)
- Kheniss recently posted his delegate intro but is not visible on the Portal, might be worth adding it on the portal for some time to see if ppl delegate.
- There is also an anon address meeting the 10k+ from 2 delegators but not active.
- StableLab & myself are currently the only two active delegates
- Up to 200k PAL from September to December
- 4k PAL for May compensation
- Reach out to TBD status delegates
- Offboard inactive delegates on the portal: Jakelynch, WilliamX, Miaki, Will, Starny & Avi
- Onboard new delegate intro on the portal: Kheniss
Yes, renew the budget
No, rework proposal
- Yes, renew the budget
- No, rework proposal