Per @DeFiFrog 's suggestion, I wanted to put this idea in the general discussion first before I proposed it as a BIP. I’m looking to get some feedback and field any questions or suggestions you may have about it. Some of you may already be familiar with SourceCred and what it can do, others may not. Either way, please consider the following information and let me know what you think of it becoming a grant proposal.
SourceCred Implementation: Badger Governance Grant Proposal
My name is @jzjallday , I am an active member for both SourceCred and the Badger DAO communities; amongst others. I have been involved with the communities since October/November of 2020 respectively and am very excited with what they have to offer. I have been contributing to the communities through discussion boards, member navigation, Q&A, artwork, and have contributed to the dialogue of ideas on both the Discourse and Medium forums. Needless to say, I am looking forward to becoming more involved with the Badger community and would like to propose this exciting new idea to all of you.
To implement a new way for the Badger DAO community to interact and be rewarded for its efforts through various media applications, some of which we already use. Specifically Discord, Discourse, and Github. Since the Badger DAO relies heavily on the community to grow and develop the project; I feel strongly that utilizing SourceCred will help enrich and drive our members to contribute toward the projects development in a more rigorous and satisfying way. Based on my own personal experience, this application can help spark new innovations, discussions, partnerships, and increases the overall social interaction within the community.
SourceCred helps discover the hidden variable every community driven project is looking for and I believe that finding this hidden variable is at the heart of all successful projects. Once SourceCred is implemented, the community becomes keenly aware that what they are doing, saying, and even the ideas they are sharing all hold a certain value. This technology aims to expose that value and bring it to the forefront for everyone involved. As a result, members become more excited to share, contribute, and grow the community they are a part of.
Please, don’t just take my word for it, here is a testimonial from a SourceCred community member who wanted to share their own unique experience with Badger.
[[Discussion] What has SourceCred Meant to You? - Governance - The Maker Forum]
What is Source Cred:
From their own Website-“SourceCred (in the most basic sense) is a technology that makes the labor of individuals more visible and rewardable as they work together in a project or community. The goal of SourceCred is to use this technology to make rewarding labor as nuanced as human contribution often is. We hope to be one piece in the puzzle of a healthier future where systems serve community members, where financial maximization isn’t the end-all be-all goal, and where wealth actually flows to those who are creating the value in our world.”
SourceCred’s technology runs autonomously and rewards the contribution of its users based on a developed contract that the community decides what it deems valuable. Essentially, if a community is already interacting, reacting, and applauding its members through social media interactions, SourceCred provides a new way to synergize this ongoing activity and helps reward its members for their contributions.
This is done by giving members measurable credit (Cred) to actions they complete and reactions they give/receive to/from others. Think of it as a sophisticated point system that shows you how you contributed to a community and how the community reacted to your contribution(s). For a deeper dive on what cred is and how its used, please check out SourceCred’s explanation here.
Once the Cred is recorded it can then be issued into Grain, which in turn is redeemable for a currency of the communities choosing (e.g. stablecoin, Badger, Digg, or bBTC). For a deeper dive into how that works, please check out their explanation on what grain is and how its used here.
Who is using Source Cred:
Some of the names currently using SourceCred are MakerDAO (MKR), DAppNode, Balancer (BAL), and 1hive (HNY). According to Github there are 76 forks to the repository, so there is a decent amount of interest in this growing technology already. Based on these successful implementations and the great team over at SourceCred, this idea has a high probability of implementation.
I encourage everyone to take a look at some of the preliminary data found from the Maker DAO project after they used SourceCred technology on their own Discourse forum here.
Some of the important details gleamed from this Discourse data over a 3 month period are as follows:
Metric % Change (6/1 - 9/1)
Daily Engaged Users
Daily Active Users (DAU) / Monthly Active Users (MAU)
With the adoption of BIP 28, I wanted to bring forth the idea to integrate SourceCred’s technology into the Badger DAO community. I am looking for a governance grant of _____ Badger Tokens to introduce a new SourceCred instance on GitHub for a trial period of 3-6 months. Once implemented, the technology will scrape data from the following sites; Discord, Discourse, and Github (I am suggesting we utilize all 3). This scrapped data then provides measurable rewards for its user’s contributions to the various applications they are apart of. This includes emoji reactions, discussion contribution, and commits for projects/tasks/bug fixes on GitHub. This credit is all weighted based on the communities feedback or from the core team’s suggestions.
For the following applications we are looking to gain the following benefits from a successful implementation:
Discord-Increased members, usage, engagement, and ideas to benefit the community as a whole. Users are rewarded for helping others, birthing new ideas, or creating new content that the community deems important/useful. Members achieve this through reactions to content, ideas, memes, etc. Various weights are assigned to the reactions, while the overall interaction(s) are also graded.
Discourse-Increased members, topics, and daily active users. To further enrich the user by diving deeper into topics/discussion started from discord or other platforms (e.g. Twitter, FB, Reddit). A place to propose new ideas and increase the depth of discussion across the community to the Teams leads, core, and developing groups. Contributors are further rewarded here by reacting to ideas, discussions, and providing solutions. Discourse is similar to what is being done on the Badger forum already.
Github-Not only will this be the formational tool to help develop the SourceCred instance but the addition of sourceCred to Github will also help develop future projects faster and with more engagement. By adding SourceCred to Github, it rewards users for commits and comments that help drive projects to completion or help report/solve/fix problems and bugs.
The ultimate goal is to provide an additional stream of value for our Badger DAO community members that contribute to the community, be it in large or small ways. To find idle talent that may feel marginalized or dis-incentivized by the current incentive structure. There are hidden gems still out there waiting for the right incentive or signal to get them involved in the Badger DAO.
The value of these contributions will then be channeled back to either the Badger DAO finance Dashboard or another agreed upon site so that users can see how their various actions/contributions are affecting their redeemable rewards (i.e. how much they have earned through their various actions/reactions [https://app.badger.finance/].
Capital allocation ____ Badger Tokens: (Will cover this section once the proposal is moved to a BIP).
After the initial contact with SourceCred they wanted to caution me that they are currently at capacity with onboarding new communities. They proposed an initial timeframe of 4th quarter 2021 to begin adding new communities. With the growing demand for the technology, I thought it would be a good idea to get the ball rolling now and put our place in line to begin implementation. With the scope of this proposal, we could use the added time to plan and make sure this is implemented properly. We should begin getting involved with their community now in case demand spikes even higher.
In order for the Badger DAO to continue its success, the community needs to continue to innovate and seek out partnerships that make sense. SourceCred has the technology that enhances the spirit of what the Badger DAO is and has always been, “…an ecosystem DAO where projects and people from across DeFi can come together to collaborate and build the products our space needs…a community-led initiative from day one.” [Introducing Badger DAO. Dedicated to building products and… | by Badger DAO 🦡 | Medium]
Guidance for these measures and other helpful topics of information can be obtained from the SourceCred Team and their website found here.
- More Discussion Needed