Referendum #53

Using Treasury Funds to Incentivize Content Production and Distribution Through Wagmedia

Democracy

1yr ago

5 Comments

Executed

Content
AI Summary

Introduction

The purpose of this funding proposal is to request 85,500 INTR tokens (~2,000 USD based on Subscan EMA7 price) in treasury funds to incentivize content creators in the Interlay and Kintsugi networks to produce and distribute high-quality and informative content.

There’s currently a lack of accessible and accurate information about Interlay and Kintsugi online, which is hindering the growth of the networks. To address this issue, we propose to use the reward delivery system, WagMedia, to efficiently incentivize individuals to discover, develop, and distribute network-related content.

About Wagmedia

WagMedia is a Discord-based reward delivery system that connects those who want to share, create, and distribute the story of Dotsama with sources of funding. This system can also help Interlay and Kintsugi fulfil their purpose by efficiently incentivizing individuals in the discovery, development, and distribution of network-related content. Anyone is welcome to join the WagMedia Discord server and register with their substrate address. Actions performed on the server that meet the content objectives of participating treasuries are awarded by treasury directors who react to contributor posts with a custom value emoji. The user is then paid out by that treasury at the end of each week.

Proposal

The proposed strategy is to distribute treasury funds through WagMedia to content creators who meet the objectives of Interlay and Kintsugi. The funds will be used to build and maintain a marketing arm that provides accurate information to token holders. By doing so, we aim to establish a connection between token holders, the treasury, and media that works in their best interest.

The WagMedia reward delivery system will ensure that the distribution of funds is fair and transparent. This will create a positive impact on the Interlay and Kintsugi networks by increasing the availability of accurate and informative content to token holders, which will help drive network growth.

Handling of funds

Funding account: wd7ujFEwyRMMobncZ2Dx2keEVWWA42BATv7B3m7Vm8fmV3XsP
The funds will be deposited into an account controlled by a bot developed by Wagmedia that automatically generates reports based on the created content and tracks payable bounties to individual contributors.

Conclusion

This proposal aims to use 85,500 INTR tokens of treasury funds to incentivize content creators in the Interlay and Kintsugi networks to produce and distribute high-quality and informative content. The funds will be distributed efficiently and strategically through WagMedia to ensure a fair and transparent distribution. The end goal is to provide accurate information to token holders and to drive network growth. We believe that this proposal will establish a connection between the token holders, the treasury, and media that works in their best interest.

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Votes

AyePassing thresholdNay

82%18%

Aye

≈1.92MvINTR

Nay

≈408.73KvINTR

Turnout

≈2.33MvINTR

Electorate

0vINTR

Passed

Votes

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Comments

wd7q...SgKE

good initiative, Wagmedia is a good platform for it. Voted aye 👍

wd9Q...41Ms

May we know more about the design of how things go on. So the Wagmedia discord server https://discord.gg/MshZWBzj is the place where content creators moving around, share the content and get other's emoji to get rewards? Who has the power to put emoji? How much emoji is enogh to get rewards? Who has the power to setup the exact reward amount for each unit of content? Is it just content making, or some distrinution also required?

Too small info now to vote aye for me.

Edited

wd7q...SgKE

@wd9Q...41Ms
great questions, i can help with that - Any dotsama project can create content bounties in the server and appoint a director who is in charge of the bounty curation & rewards distribution.

In this case, it will be someone from the interlay team who will create relevant bounties that will serve to incentivize the creation of comprehensive, useful, and inspiring Interlay related content in furtherance of the overall marketing plan for the DeFi Hub Launch & so forth.

There shall be a separate Interlay channel in the server where the bounty will be active. The director can add certain qualifying conditions for being eligible for rewards such as engagement thresholds, quality & delivery style and reward only those who show effort & unique perspective in their content to ensure efficient utilization of funds. These may include twitter threads, YT videos, or any blogs in that regard. Those with good submissions can be rewarded well for their efforts while those with mediocre or subpar will either be rewarded very sparsely or are not rewarded at all until they improve their submission as per the director feedback.

There's also an inbuilt writers room in wagmedia that helps creators improve & fine tune their submissions, passing one's content through writers rooms before posting for rewards can also be one of the qualifying conditions for being eligible for rewards.

The emojis can range from 10$ worth of INTR to 100$ worth of INTR or any other denomination as per the director's plans. For eg. The director can curate a competition where Top 5 submissions which adhere to the qualifying conditions, get 100-200$ worth of tokens while the rest notable contributions get 10$-20$ for their submissions in order to incentivize quality posts. Only the director of the concerned project has the authority/option to reward such emojis and no one else. It can be any amount as per the director's budget for that particular bounty.

Wrt your last query - anyone with a creator role in the server can participate in these bounties. To get the creator role, you need to have a proven record of creating good content & having the requisite skills to be able to create informative content.

You can get a sense of the mechanism of how it works by visiting other project channels like bifrost, acala, tinkernet etc which are already live in the server :)

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