Eric_Stanek
Well-known Pivian
Hello PIVX Community!
Just wanted to share a thought I have about the Treasury system.
Some background:
When we increased the rewards, the worry was that once the price increases, we would have everyone submitting proposals for anything and everything, simply because there is "Money on the table.".
For example, currently, we have 432,000 PIV at $0.22 available each cycle, which works out to just under $100K USD per month. That's actually not a huge amount, given the cost of listings, market making and integrations. It is allowing us to move forward fast, but we keep bumping up against the max Treasury spend.
At some future point, when we get to say $2.50, the monthly budget is going to be over $1,000,000 per month. Crazy to think that - but it's true!
My concern:
We are starting to see it now already, but as the price increases, we can expect many more questionable, average, or MEDIOCRE proposals.
Regardless of the amount of funds available each month, I PERSONALLY FEEL, we need to make sure that new proposal authors start small, and prove themselves over time. Each cycle, based on their performance, they can propose to do more, and ask for more funds. There is nothing in the system preventing someone ignoring all this, but odds are, if a new proposal author comes in hot and heavy with massive plans and high costs, but no history in the Community, no trust, and no proof they can deliver, the proposal will most likely get voted down.
I am starting to see more and more proposals that MAY be really good, but are MISSING these key elements, which throws them into the 'MEDIOCRE' category for me. I will NOT be supporting such proposals.
Solution:
Reputation is everything. So, new proposal authors should start SMALL and build on each of the points below. Document them. Include them in your proposals.
1. Become active in the Community.
2. Support PIVX on the social channels you use.
3. Volunteer first. Build Trust.
4. Educate yourself on all things PIVX; PIVX.org, Toolbox.PIVX.org, Docs.PIVX.org, PIVX Core, MPW, PIVcards, PIVX.promo etc. etc.
5. Support our new Community members. Join both PIVX Discords; Main and Labs.
6. Earn at least one Role in the PIVX Discord. (Being on the 'Social Team' should be a requirement in my mind.)
7. Find your 'niche' by combining your skills, passion, and identifying a 'empty spot' in PIVX that you can fill.
8. Create a well defined SMALL SCOPE proposal, as DRAFT first, and ask for constructive feedback to make it robust.
9. Include that feedback where it makes sense, and start by asking for a MODEST SMALL amount of funds.
10. This initial amount of funds requested may be very low, given the time it will take you, but getting approval for funds is a big step forward!
11. Nothing wrong with telling the Community that the funds requested will increase as you prove your value, but that you appreciate you need to prove yourself first.
12. That first proposal should list out everything about you so far; Who you are, what your crypto experience is, how long you've been in the PIVX Community, what you've done to show you 'bleed purple' etc. etc.
13. Then ultimately, just answer 2 questions, albeit in as much detail as possible. Those are; 1) What will the proposal cost PIVX? and 2) What value will it add to PIVX?
14. Successive proposals should always answer those 2 questions, even once a proposal author has built an extremely solid reputation.
15. Further, when reporting out on proposals, as many data points as possible that prove the value far exceeds the cost, should be provided.
Sometimes the value added to PIVX is high, but is comprised of hard to quantify indirect value items. That makes it hard to prove the value. Still, these should be listed. When hard data is available, be sure to provide it!
Also, the above list is not required. It's just what I've come up with. Every item can be ignored. But, then your odds of having your proposal pass drop dramatically.
Conclusion:
There will soon be HUGE money available in the Treasury for people to earn PIVX. But, the only way this is a Win-Win for PIVX and the proposal authors, is if the proposals offer FAR more value than their cost. It is going to be way better for PIVX if only the best of the best proposals pass, and the questionable/mediocre ones fail.
Lessons:
Start small and build your reputation!
Don't be MEDIOCRE!
Have fun and Keep it Purple everyone!
Just wanted to share a thought I have about the Treasury system.
Some background:
When we increased the rewards, the worry was that once the price increases, we would have everyone submitting proposals for anything and everything, simply because there is "Money on the table.".
For example, currently, we have 432,000 PIV at $0.22 available each cycle, which works out to just under $100K USD per month. That's actually not a huge amount, given the cost of listings, market making and integrations. It is allowing us to move forward fast, but we keep bumping up against the max Treasury spend.
At some future point, when we get to say $2.50, the monthly budget is going to be over $1,000,000 per month. Crazy to think that - but it's true!
My concern:
We are starting to see it now already, but as the price increases, we can expect many more questionable, average, or MEDIOCRE proposals.
Regardless of the amount of funds available each month, I PERSONALLY FEEL, we need to make sure that new proposal authors start small, and prove themselves over time. Each cycle, based on their performance, they can propose to do more, and ask for more funds. There is nothing in the system preventing someone ignoring all this, but odds are, if a new proposal author comes in hot and heavy with massive plans and high costs, but no history in the Community, no trust, and no proof they can deliver, the proposal will most likely get voted down.
I am starting to see more and more proposals that MAY be really good, but are MISSING these key elements, which throws them into the 'MEDIOCRE' category for me. I will NOT be supporting such proposals.
Solution:
Reputation is everything. So, new proposal authors should start SMALL and build on each of the points below. Document them. Include them in your proposals.
1. Become active in the Community.
2. Support PIVX on the social channels you use.
3. Volunteer first. Build Trust.
4. Educate yourself on all things PIVX; PIVX.org, Toolbox.PIVX.org, Docs.PIVX.org, PIVX Core, MPW, PIVcards, PIVX.promo etc. etc.
5. Support our new Community members. Join both PIVX Discords; Main and Labs.
6. Earn at least one Role in the PIVX Discord. (Being on the 'Social Team' should be a requirement in my mind.)
7. Find your 'niche' by combining your skills, passion, and identifying a 'empty spot' in PIVX that you can fill.
8. Create a well defined SMALL SCOPE proposal, as DRAFT first, and ask for constructive feedback to make it robust.
9. Include that feedback where it makes sense, and start by asking for a MODEST SMALL amount of funds.
10. This initial amount of funds requested may be very low, given the time it will take you, but getting approval for funds is a big step forward!
11. Nothing wrong with telling the Community that the funds requested will increase as you prove your value, but that you appreciate you need to prove yourself first.
12. That first proposal should list out everything about you so far; Who you are, what your crypto experience is, how long you've been in the PIVX Community, what you've done to show you 'bleed purple' etc. etc.
13. Then ultimately, just answer 2 questions, albeit in as much detail as possible. Those are; 1) What will the proposal cost PIVX? and 2) What value will it add to PIVX?
14. Successive proposals should always answer those 2 questions, even once a proposal author has built an extremely solid reputation.
15. Further, when reporting out on proposals, as many data points as possible that prove the value far exceeds the cost, should be provided.
Sometimes the value added to PIVX is high, but is comprised of hard to quantify indirect value items. That makes it hard to prove the value. Still, these should be listed. When hard data is available, be sure to provide it!
Also, the above list is not required. It's just what I've come up with. Every item can be ignored. But, then your odds of having your proposal pass drop dramatically.
Conclusion:
There will soon be HUGE money available in the Treasury for people to earn PIVX. But, the only way this is a Win-Win for PIVX and the proposal authors, is if the proposals offer FAR more value than their cost. It is going to be way better for PIVX if only the best of the best proposals pass, and the questionable/mediocre ones fail.
Lessons:
Start small and build your reputation!
Don't be MEDIOCRE!
Have fun and Keep it Purple everyone!