Governance
Path to decentralization for the Increment protocol will be divided up into different phases and to get it started we are beginning the Discovery Phase. The main objective of this phase is to identify those who have actively contributed to the Increment community.
The issue with many current governance structures is that governance tokens are distributed to those who support the protocol with their wallet rather than those who provide other types of value such as taking part in community discussion, creating proposals, and developing the protocol. To combat this, we have set up the following technologies that help identify active members in the community:
- SourceCred is an off-chain solution that tracks activity on Discord, Discourse, and Github. Using custom weights decided on by the community, SourceCred creates an output graph that quantifies members' contributions to the platform in cred.What is cred? In simple terms, cred is an off-chain token that you can earn by contributing, participating, or interacting with the Increment protocol and community. Depending on the specific event, you will earn a number of cred for your contribution. Cred is computed and shared transparently on an explorer, which you can find here.
- Coordinape is for contributions that we can't quantify with SourceCred. Similar in structure, Coordinape is another off-chain solution that allows us to track contributions to the platform. Coordinape gives an allocation of tokens to each member of the community from which they can choose to distribute to others. This allows users to show how valuable they think other members of the community are to the protocol, regardless of how things look on paper. After each round of allocations (called epochs), a graph and data are generated to be used for on-chain distribution.
SourceCred is already integrated with Increment’s Github, Discord, and Discourse to begin identifying value-adding community members. We have decided to start with some basic weights for the contribution parameters, which were recommended to us by the SourceCred community and as we move forward, we will give the right to govern those parameters to the Increment community.
We have also prepared Coordinape and plan to hold our first epoch once we have established some more contributing members in the community.
Moving forward, we encourage everyone to participate and start building cred. As we continue to develop the beta, we will also roll out the rest of the governance phases.
We are also interested in hearing your thoughts on governance and discuss what you think would be best for the protocol. If you have some ideas, come join the discussion on our Discord server or post your proposal in the Discourse forum.
Last modified 1yr ago