Code:
Name: LMP - Labs Booster
Term: 1 Cycle
Cycle Amnt: 12,500
Total Amnt: 12,500
Author: JSKitty
Receiver: PIVX Labs
Address: DLabsktzGMnsK5K9uRTMCF6NoYNY6ET4Bb
Created: 09-06-2024
Status: Active
Vote Hash: 4dccad2d010db1f0d5919d9acb1932c1098998ff73ea5f95756ed51273e71c9bNote: This proposal will stay open for 24h prior to submission to allow time for comments or questions!
Proposal Abstract
This proposal is both a renewal proposal and covers an additional 2 Labs fund acquisitions to lubricate-up some of our community services and funding necessities.
This proposal comprises of three separate funding needs:
- 5,000 PIV to PIVCards Liquidity Boost (due to market action, despite our "coins" increasing from fees, PIVCards' fiat liquidity is low and thus slowing down large or fast-succession orders).
- 2,500 to Quality Control - renewal (last topped-up in March, with some funds being redirected to make up for the price loss while covering infra).
- 5,000 to Labs Reward Pool (these funds will top-up the PIVX Rewards platform, which also acts as our community-event pool, spent on Community Games - Giveaways - Labs Events and promos).
While existing since the creation of PIVX Rewards, a deeper explanation in to the "Labs Reward Pool" and what exactly it is:
The Labs Reward Pool is a "fill-the-gap"-style public pool wallet, visible 24/7 here, in which Labs uses to fund small events or community-driven services.
For example, the Labs Reward Pool is responsible for funding:
- The PIVX Rewards faucet.
- The Labs Ambassador program. (Includes referral boost, faucet boost, and ability to request Labs Funding or Labs "Sponsorship").
- Promotions, such as PIVCards discounts, PIVX Rewards seasonal or Perk boosts.
- Giveaways (across X, TikTok, Discord, etc).
- Community Games (such as our daily Discord Trivia).
- Quality Control rewards.
How it gets funding:
Labs designates a chunk of it's funding towards the pool, typically acquired from inflows from PIVCards fees, Staking of Labs funds, community donations, and finally the DAO as a last resort if our inflows aren't outpacing outflow, particularly when the price of PIV is low, thus using more PIV to compensate.
Long-Term Goal:
The long-term goal of the Labs Reward Pool is to give our community and team the ability to cover community-oriented events without needing to procure unnecessary waiting time on individual proposals, for example: Labs wishes to launch a sponsored "Street Cleanup" with PIVX themed gear and a footage for social marketing, this style of event could soon be possible by a Labs Ambassador with a much more ideal access to funds and Labs' resources.
How it's gone so far:
At the launch of the PIVCards fee split program, purchases were at their peak and PIV was at a higher price, those two factors meant that temporarily (for about a month) the pool was completely self-sustaining and actually growing in size rather than decreasing, these last two months haven't been so fortunate, so we've shelled out more PIV than usual, and thus have to request help from the DAO as a (hopeful!) one-off.
What if PIVCards can't cover the Labs Reward Pool, won't you always be falling to the DAO?
This is where Labs Ads comes in!
An example of Labs Ads as seen by a user, with a "PIVX Rewards" banner ad
Labs Ads is an upcoming, privacy-preserving Advertising system soon to be deployed on PIVX Rewards, a pay-per-view system where advertisers deposit as low as 1 PIV in to their ad campaign for their ads to be displayed on PIVX Rewards, and any other eligible websites wishing to display Labs Ads and earn a commission from it.
Labs Ads have zero identifiable tracking - they are randomised and non-targetted, reviewed and moderated by the Labs Team - they have an easy opt-out - they are fully in-house, no Google, no Microsoft, pure Labs powered advertising technology, not a single third-party is involved with the creation, hosting or deployment of Labs Ads.
The opt-out confirmation for Labs Ads
With this system in mind... the end goal is to eventually make the Labs Reward Pool completely self-sustaining, through PIVCards fees, Labs Ads, Staking and the occassional donation, we'd like to make this fund completely independent of the DAO and remove pressure on the budget while giving Labsians the ability to cover costs.
How are Quality Control rewards determined?
Each Pull Request is assigned a "complexity" or "size" marker by a Labs Team member, this is assigned based on the developer's interpretation of the complexity (or operational importance) of the Pull Request.
The current Labs Quality Control distribution table is:
| Size or Complexity | Reward Amount | Description |
|---|---|---|
| Trivial | 10 PIV | Trivial app adjustments, such as small improvements or bug fixes. |
| Small | 20 PIV | Noticeable changes or UX-affecting refactors, such as Design or Functionality. |
| Large | 50 PIV | Major app changes, such as large new features, large refactors or patches. |
| Critical | 100 PIV | Critical and time-sensitive changes, such as patching data-loss or fund-loss bugs, large protocol changes such as Shield or Deterministic Masternodes. |
In the case of other services, such as PIVCards where testing requires actual purchases, users are given a select amount of PIV between 20-100 and allowed to spend the PIV on various PIVCards items, this allows us to watch the backend during real-time tests and iron out any issues that are spotted ahead of launch, or ahead of new updates, the most important aspect of this is having MANY users participate, from different regions, which grants us a bigger testing surface area over more brands, countries, currencies and languages.
For PIVX Rewards, the platform rewards users autonomously based on the price of PIVX - the higher the price, the lower the PIV reward to hit equalibrium, all Quality Control members receive an additional 100% reward boost for their active work in the design and development process of the platform.
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