AELIP-17: AELIP Rewards

Author
StatusImplemented
ImplementorTBD
ReleaseTBD
Created2022-04-19

Simple Summary

This AELIP proposes to incentivize greater participation in governance and grow the Aelin protocol by rewarding community members who draft successful AELIPs.

Abstract

Aelin is ready to further decentralize by engaging the community in the shared responsibility of improving the protocol. Community members who identify an opportunity to improve the protocol may draft an AELIP and will be rewarded with AELIN tokens in compensation for their efforts if the AELIP is approved by the Aelin Council.

Motivation

Currently all AELIPs published to date have come from the same four people. This isn’t inherently bad; however, the decentralization of thought leadership and responsibility for improvement across the entire community will strengthen the protocol. Not only will the protocol become less dependent on a few people, but those people will have the opportunity to be more selective of which AELIPs they want to sponsor, freeing up additional time for them to focus on other important tasks such as writing code, outreach, or higher level protocol governance.

Specification

Overview

To become eligible for this reward, community members must first draft an AELIP in accordance with the guidelines, make it available for public comment, and present it to the Aelin Council. If the AELIP passes the Council’s vote, the community member sponsoring the AELIP is eligible for a reward of up to $4,000 USD, paid in AELIN. This max reward amount will be configurable as an ACCP. As some AELIPs may create an exceptionally high amount of value to the protocol, in rare circumstances the council may use their judgment to award an additional one-time payment outside of this process for significant work performed. The reward will be shared equally if multiple community members author the AELIP unless they suggest a different allocation.

No two AELIPs require the same amount of expertise or effort to bring to a passing vote; therefore, they should not be rewarded equally. Additionally, certain AELIPs carry a greater technical debt than others and must be considered if the authors are unable to implement. AELIP compensation will be based on two factors, impact and effort, as judged by the council after passing an AELIP authored by a member of the community. These two factors will be assigned a value for each AELIP on a scale of 1 (low) to 10 (high) by the 5 council members resulting in a total “score” out of 100. If less than 5 council members participate, an average will be used. Once a score is determined, it will be used as a reduction factor to the total reward.

An example of this in practice is as follows: If the AELIP had a very significant impact to the protocol and received an average value of 9 for impact, but either required moderate effort to author or incurs average technical debt and receives an average value of 4 for effort, the total score would be (9 X 5) + (4 X 5) = 65. This total score of 65 would then be divided by 100 and multiplied by $4,000 USD and paid at the commensurate value in AELIN.

Core contributors will not be eligible for this reward. Council members are eligible to receive this reward; however, will be required to recuse themselves from voting. If more than one council member is responsible for co-authoring an AELIP, it will not be eligible for rewards. Additionally, the AELIN council reserves the right to disqualify an AELIP from being eligible for a reward for any reason such as if it does not introduce a meaningful change, it has been unnecessarily split into multiple AELIPs to gain additional rewards, etc.

Rationale

AELIPs play a significant role in the success of the protocol; however, being a relatively new protocol, the core contributors and council members need to focus their efforts on the highest use of their time which often isn’t drafting and sponsoring AELIPs. By activating the community to participate in improving the protocol, Aelin can grow at an even more rapid pace without taking on additional fixed overhead. Further, this puts governance power in the hands of the community members who are most focused on finding ways to improve the protocol with Aelin and incentivizes them to continue to be active governance participants.

Technical Specification

N/A

Test Cases

TBD

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