RELP 4 - Unlocking $REL Supply of DAO Reserve for Community Governance

Relation Proposals Achieved Proposals
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Title: [Unlocking $REL Supply of DAO Reserve for Community Governance]

Authors: [Kurt]

Date Created: [2023-11-27]

Abstract

This proposal aims to unlock a portion of the $REL supply from the DAO Reserve Quota as an incentive measure for community governance. The main focus of this incentive program will be those involved in building and governing the Relation Graph. This initiative aims to enhance Relation Protocol’s move towards decentralization and foster stronger community engagement.

Motivation

The implementation of this proposal would motivate Relation Community members to take a more active role in governance and the development of Relation Graph. Through community incentives, all community users can co-build the Relation Social Graph and this would foster the progress towards decentralization and accelerate the development of a more robust and engaged community.

Rationale

This proposal aligns with the core mission of the Relation Community, which advocates fostering a self-governed, decentralized network. Encouraging community governance not only strengthens active participation but also ensures a fair distribution of resources, facilitating progress towards shared ownership of the network.

Key Terms

DAO Reserve Quota: This accounts for 30% of the total $REL supply and is held in reserve for future needs by the DAO as specified in the token economics: Relation Labs | Web3 Social Graph Provider.

Relation Protocol: Relation Protocol is a decentralized social graph protocol for encoding relations in Web3. It creates a blockchain-native data layer through Semantic SBT (Relation Labs | Web3 Social Graph Provider) and a standard data format, enabling developers around the world to build decentralized social graphs on blockchain.

Steps to Implement

  1. Roadmap of Community Governance: Development of a comprehensive roadmap that outlines the stages and benchmarks of community governance.

  2. Launch an education and awareness campaign: Launch of an awareness campaign, including webinars, community calls, informative content, and interactive sessions aimed at familiarizing community members with the new incentive system.

Timeline

Complete Roadmap of Community Governance: TBC

Implement Incentive System: TBC

While the timeline remains To Be Confirmed (TBC), the expected workflow will include the completion of the community governance roadmap, followed by the implementation of the education campaign, and finally, the roll-out of the incentive system.

Budgets and Distribution

The expected budget allocation is as follows:

  • Education and Awareness Campaign: $5,000

The remaining funds from the DAO Reserve Quota will be dedicated to incentivizing community governance and contributions towards the development and governing of Relation Graph.

9 Likes
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Decentralization is useful, but it should be done in such a way that it does not harm the economy (price) of the token, if it helps the project, everyone should be in favor of such an idea

1 Like
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Thank you very much for the article

1 Like
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Yes I presume the staking system should be integrated with it.

2 Likes
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I am writing a supplement to this proposal to draft a new era of decentralized social graph governance. Every address participating in governing the Relation Protocol will be eligible for rewards.

Within each epoch, all addresses holding $REL can stake their $REL tokens during the election period to become a SubGraph Builder. Once the election period is complete, SubGraph Builders can participate in the governance of the ongoing epoch and partake in profit-sharing.

Each epoch lasts a total of 28 days, with the initial 27 days devoted to governance and the final day designated for elections. Tokens involved in the governance will be locked for the duration of the governance period. During the election period, all SubGraph Builders have the choice to withdraw their tokens and exit or stake more tokens.

SubGraph Builders for the first epoch will make their move during the first-ever election period, set to begin at 4 PM on December 14th, ending with a snapshot taken at 4 PM on December 19th.

The first twelve epochs will see the unlocking of 10 million $REL from the DAO Reserve as a means to incentivize staking governance rewards.

Timeline:

  • December 14th: Start of the first-ever election period.
  • December 19th: End of the election period. The snapshot of the election results will be taken to determine the SubGraph Builders for the first epoch.
  • December 19th - January 15th: Governance period for the first epoch.
  • January 16th: Election day for the second epoch.
  • Repeat the same process for the subsequent ten epochs, with the unlocking of REL from DAO Reserve for staking governance rewards.
2 Likes
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I send USDC.e optimism to my Relation Account and i just realized that not support yet
So i hope the team will add support for USDC.e (bridged USDC) later
Thx

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Is there any lockup system introduced to reduce the selling pressure ?

1 Like
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Sure. I think there is a staking system to prevent inflation.

1 Like
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This is amazing, Kurt. A step towards effective decentralization for entire Relation community. Simultaneously, we need to focus on the applicability (more application within Relation ecosystem) as well as community building.

1 Like
11

Thanks for the article. it could be nice to see staking with a system of incentives or with a system linked to votes (and incentives for those who vote when there is a proposal) also to see the tokens delegation in the future. it’s just some ideas.

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STAKING RELATED ANNOUNCEMENT

Following the approval of RELP 4, we’re ready to begin unlocking $REL Supply towards implementing social graph governance and offering staking rewards.

If you’re a holder of 2,000+ $REL in your on-chain wallet, please claim your Discord role at Discord via Guild.xyz. This will provide access to a private channel Discord where we’ll discuss the staking mechanism in detail at this crucial final stage.

Don’t miss this exciting opportunity, let’s work together to boost $REL all the way to the moon! :rocket:

Claim $REL Airdrop > Official Airdrop

Exchange $REL > MEXC

Forum Discussion > RELP 4

1 Like