[RIP00001] Activation of the first incentive epoch for the Realtoken DAO

Michael-RealT

🇺🇸
(French translation at the end of this message)

Proposal summary:

This proposal aims to launch the first incentive epoch for the Realtoken DAO, with a 6-week lock, a 5-day subscription period, and a budget of 1000 USDC per week, totaling 6000 USDC in bonuses. The objective is to stimulate member engagement and test the incentive concept.

Motivation:

The activation of this first incentive epoch aims to:

Encourage active participation of DAO members
Increase engagement and loyalty of token holders
Strengthen the stability and growth of the Realtoken ecosystem
Test and demonstrate the incentive concept for future epochs

Specifications:

Platform: Realtoken DAO incentive vault contract
Epoch duration: 6 weeks
Subscription period: 5 days
Total budget: 6000 USDC (1000 USDC per week)
Eligible tokens: Circulating REG (763,400 tokens)

Context:

Current distribution of REG tokens:
- Polygon: 205.1 tokens
- Ethereum: 1 token
- Gnosis: 19,561,293.99 tokens
Detailed breakdown:
- Marketing budget: 17,499,500 tokens (not in circulation)
- GENESIS airdrop vault: 1,298,600 tokens (unclaimed, will return to the DAO treasury)
- Tokens in circulation: 763,400 tokens
Annualized yield calculation:
- Total tokens in circulation: 763,400
- Total incentive budget: 6,000 USDC for 6 weeks
- Yield for 6 weeks: 0.007859576 USDC per token
- Annualized yield: 0.068116322 USDC per token per year
- Annualized percentage: 6.487268762%
- REG value used for calculation: $1.05/REG

Calculation details:

6,000 USDC / 763,400 tokens = 0.007859576 USDC per token for 6 weeks
0.007859576 USDC * (52 weeks / 6 weeks) = 0.068116322 USDC per token per year
As a percentage: 100/1.05 * 0.068116322 = 6.487268762% per year
Note: The annualized yield of 6.487268762% is calculated assuming all tokens in circulation are deposited in the incentive vault and there is a 100% participation rate in the period's votes.

Implementation Steps:

Transfer funds from RMMv3 treasury contract to DAO Treasury (!!! 20% payment to AAVE DAO)
DAO vote on this onChain proposal

Team:

The Realtoken DAO technical team will be responsible for implementing and monitoring this incentive epoch.

Budget:

6000 USDC, sourced from the DAO treasury

Financial implications:

Direct cost: 6000 USDC
Potential annualized yield for participants: 6.487268762%

Roadmap:

Community vote (7 days)
Queue period (2 days)
Activation of subscription period (5 days)
Locking of deposited REG (6 weeks)
Distribution of bonuses and possibility to withdraw REG

Timeline:

Day 1-7: Community vote
Day 8-9: Queue period
Day 10-14: Subscription period
Day 15 - Week 6: Lock period
End of week 6: Bonus distribution and possibility of withdrawal

Objectives:

Encourage active participation of DAO members
Increase engagement and loyalty of REG holders (REG accumulation)
Increase the attractiveness of the DAO
Test and demonstrate the incentive concept for future epochs
Collect feedback to optimize future epochs
-

Success metrics:

Vote participation rate
Percentage of circulating tokens deposited in the vault
Participation rate in votes during the epoch
Community feedback on the process

Alignment with mission:

This proposal aligns with the Realtoken DAO's mission by encouraging active member participation and strengthening the ecosystem of real estate asset tokenization.

Key terms:

Incentive epoch: Defined period during which rewards are distributed to active participants
Vault: Smart contract where tokens are deposited and locked
REG: Governance token of the Realtoken DAO

This proposal aims to launch the first incentive epoch of the Realtoken DAO, serving as a test and demonstration for future epochs. The results and feedback from this first epoch will be crucial for adjusting and improving future DAO incentive strategies.

📍 CHECK-LIST: ( 🔲 : under discussion / ✅ : finalized / ❎: not applicable )
✅ Proposal Summary
✅ Motivation
✅ Context
✅ Implementation steps
✅ Team
✅ Budget / Allocation
✅ Roadmap
✅ Objectives
✅ Key terms

spK

Michael-RealT Calculation details:

6,000 USDC / 763,400 tokens = 0.007859576 USDC per token for 6 weeks
0.007859576 USDC * (52 weeks / 6 weeks) = 0.068116322 USDC per token per year
As a percentage: 100/1.05 * 0.068116322 = 6.487268762% per year
Note: The annualized yield of 6.487268762% is calculated assuming all tokens in circulation are deposited in the incentive vault and there is a 100% participation rate in the period's votes.

If i well understood, it's the minimal bonus expected to earn... if only a half of REG holders joins and votes during the incentive epoch, the bonus will be double pour active participants.

Madricas

Semence Hi, when and where do we need to pool to benefits from this ?

Please read the proposal, the messages before yours and the wiki:

Michael-RealT

Timeline:

Day 1-7: Community vote

Day 8-9: Queue period

Day 10-14: Subscription period

Day 15 - Week 6: Lock period

End of week 6: Bonus distribution and possibility of withdrawal

Michael-RealT

UPMP Je voulais savoir à partir de quand cette proposition sera soumis à un vote sur Tally ?

généralement ça reste 1 semaine a cette étape, donc possiblement au vote pour 7 jours a partir de la semaine prochaine

The proposal will stay in the discussion stage until possibly next week. Then it will move to voting and start the above described timeline.

Michael-RealT https://vote.realtoken.network/dao/incentive

Consider also looking up when and where to vote if you want this proposal to pass.

Michael-RealT

🇫🇷

Résumé de la proposition:

Cette proposition vise à lancer la première epoch d'incentive pour la DAO Realtoken, avec un lock de 6 semaines, une période de souscription de 5 jours, et un budget de 1000 USDC par semaine, totalisant 6000 USDC en bonus. L'objectif est de stimuler l'engagement des membres et de tester le concept d'incentive.

Motivation:

L'activation de cette première epoch d'incentive vise à :

Encourager la participation active des membres de la DAO
Augmenter l'engagement et la fidélité des détenteurs de tokens
Renforcer la stabilité et la croissance de l'écosystème Realtoken
Tester et démontrer le concept d'incentive pour les futures époches

Spécifications:

Plateforme : Contrat de vault d'incentive de la DAO Realtoken
Durée de l'epoch : 6 semaines
Période de souscription : 5 jours
Budget total : 6000 USDC (1000 USDC par semaine)
Tokens éligibles : REG en circulation (763'400 tokens)

Contexte:

Distribution actuelle des tokens REG :
- Polygon : 205.1 tokens
- Ethereum : 1 token
- Gnosis : 19'561'293.99 tokens
Répartition détaillée :
- Budget marketing : 17'499'500 tokens (non en circulation)
- Vault de l'airdrop GENESIS : 1'298'600 tokens (les non réclamés, retourneront à la trésorerie de la DAO)
- Tokens en circulation : 763'400 tokens
Calcul du rendement annualisé :
- Total des tokens en circulation : 763'400
- Budget total de l'incentive : 6'000 USDC pour 6 semaines
- Rendement pour 6 semaines : 0.007859576 USDC par token
- Rendement annualisé : 0.068116322 USDC par token par an
- Pourcentage annualisé : 6.487268762%
- Valeur du REG utilisé pour le calcul : 1.05$/REG

Détail du calcul :

6'000 USDC / 763'400 tokens = 0.007859576 USDC par token pour 6 semaines
0.007859576 USDC * (52 semaines / 6 semaines) = 0.068116322 USDC par token par an
En pourcentage: 100/1.05 * 0.068116322 = 6.487268762% par an
Note : Le rendement annualisé de 6.487268762% est calculé en supposant que tous les tokens en circulation sont déposés dans le vault d'incentive et qu'il y a un taux de participation de 100% aux votes de la période.

Étapes d'implémentation:

Transférer les fonds du contrat de trésorerie du RMMv3 vers la Trésorerie de la DAO (!!! paiement de 20% à AAVE DAO)
Vote par la DAO la présente proposition onChain

Équipe:

L'équipe technique de la DAO Realtoken sera responsable de l'implémentation et du suivi de cette epoch d'incentive.

Budget:

6000 USDC, provenant de la trésorerie de la DAO

Implications financières:

Coût direct : 6000 USDC
Rendement annualisé potentiel pour les participants : 6.487268762%

Feuille de route:

Vote de la communauté (7 jours)
Période de queue (2 jours)
Activation de la période de souscription (5 jours)
Verrouillage des REG déposés (6 semaines)
Distribution des bonus et possibilité de retrait des REG

Calendrier:

Jour 1-7 : Vote de la communauté
Jour 8-9 : Période de queue
Jour 10-14 : Période de souscription
Jour 15 - Semaine 6 : Période de lock
Fin de la semaine 6 : Distribution des bonus et possibilité de retrait

Objectifs:

Encourager la participation active des membres de la DAO
Augmenter l'engagement et la fidélité des détenteurs de REG (accumulation de REG)
Augmenter l'attractivité de la DAO
Tester et démontrer le concept d'incentive pour les futures epochs
Collecter des retours d'expérience pour optimiser les futures epochs

Métriques de succès:

Taux de participation au vote
Pourcentage de tokens en circulation déposés dans le vault
Taux de participation aux votes pendant l'epoch
Feedback de la communauté sur le processus

Alignement avec la mission:

Cette proposition s'aligne avec la mission de la DAO Realtoken en encourageant la participation active des membres et en renforçant l'écosystème de tokenisation d'actifs immobiliers.

Termes clés:

Epoch d'incentive : Période définie pendant laquelle des récompenses sont distribuées aux participants actifs
Vault : Contrat intelligent où les tokens sont déposés et verrouillés
REG : Token de gouvernance de la DAO Realtoken

Cette proposition vise à lancer la première epoch d'incentive de la DAO Realtoken, servant de test et de démonstration pour les futures epochs. Les résultats et les retours d'expérience de cette première epoch seront cruciaux pour ajuster et améliorer les futures stratégies d'incentive de la DAO.

Eric

Michael-RealT Répartition détaillée :

Budget marketing : 17'499'500 jetons (non en circulation)
Vault de l'airdrop GENESIS : 1'298'600 tokens (les non réclamés, retourneront à la trésorerie de la DAO)
Jetons en circulation : 763'400 jetons

Bonsoir, question pour que je comprenne un peu la répartition , car j'essaye de faire le lien entre ce qui est marqué précédemment et le camembert que l'on retrouve sur l'article médium concernant la Token Economy.
Il est marqué qu'il y aura 500 000 000 de regs distribué sur une période de cinq ans quand on lis l'article et la répartition du camembert on retrouve bien les 17 499 500 pour le budget marketing en revanche je n'arrive pas à faire le lien pour les 1,2 millions pour le vault de l'aidrop et à quoi correspondent les 763 400 jetons en circulation ?
Nous aurons droit un NFT Citizen grâce a notre première participation ?
Merci d'avance pour vos réponses.

Arnaud57

Michael-RealT When will the vote be live ?

sorg

Hello / Bonjour,

Is there a preferred language for this forum ?

Even if I agree with the general principle of this proposal, i wonder if there is a risk of a side effect as the incentive vault may tend to drain the liquidity pools, thus the (already limited) liquidity of the REG may be very little afterwards.

What do you think ?

Last question, who is the one with one (1 !!!!) REG token on ethereum ??? :-)

AlexRLT

sorg Is there a preferred language for this forum ?

you can write replies in any language you want, we encourage people to use the translators included in their web browsers 🙂

Michael-RealT

sorg Is there a preferred language for this forum ?

Even if I agree with the general principle of this proposal, i wonder if there is a risk of a side effect as the incentive vault may tend to drain the liquidity pools, thus the (already limited) liquidity of the REG may be very little afterwards.

What do you think ?

Thank you for this relevant question regarding the potential impact on REG liquidity. You raise an important point, but several factors could mitigate this risk:

Natural yield balance: The vault's yield will decrease as deposits increase. The more REG in the vault, the less attractive it becomes, thus creating a natural equilibrium.
Lock-up constraint: Depositing in the vault locks up liquidity for a fixed period. This constraint could deter some investors, particularly small holders needing flexibility, thus preserving some liquidity.
Potentially reduced voting power: If the voting power of tokens deposited in the vault is lower than that of a pool, it could incentivize maintaining some liquidity in the pools.
Future liquidity improvements: Other options are being considered to improve liquidity (see future proposals), showing a comprehensive approach to managing the REG ecosystem.
Large holders' strategy: Large REG holders would benefit from diversifying the use of their tokens to optimize yield and risks, naturally contributing to maintaining a certain level of liquidity.
DAO flexibility: The DAO can adjust several levers to balance participations, including the amount available for the vault and voting power boosts.

These mechanisms should help mitigate the impact on liquidity. Nevertheless, careful monitoring of liquidity evolution during this first epoch will be crucial for optimizing future iterations of the incentive program.

Madricas

AlexRLT If readers are left to understand other messages by their own means, then I am wondering the benefit of duplicate posts between English and French, or more languages.

I can understand to some extent for introductions, guides or docs: topics are locked, there is no discussion happening and the content shouldn't change much.

However for active conversations, such as this proposal, this introduces more effort in having to keep both language posts synced at all time. There is already an example of this here, with the paragraph "Étapes d'implémentation" missing from the English post (tagging @Michael-RealT to add it).

PhilP

C'est la première proposition sur ce Forum, si vous souhaitez comprendre comment agir sur ce Forum (Répondre, Voter, ..) ainsi que sur les autres nouvelles applications de la DAO (Wiki, Vote, Dashboard) : https://wiki.realtoken.community/fr/DAO/Guide

This is the first proposal on this Forum, if you want to understand how to act on this Forum (Reply, Vote, ..) as well as on the other new applications of the DAO (Wiki, Vote, Dashboard): https://wiki.realtoken.community/en/DAO/Guide

Yohann76

spK

If i well understood, it's the minimal bonus expected to earn... if only a half of REG holders joins and votes during the incentive epoch, the bonus will be double pour active participants.

🇺🇸 If this is indeed the case and the bonus can double with 50% participation, shouldn't we consider setting a cap on this bonus to preserve part of the incentive budget for future periods? This would help ensure a more sustainable mechanism and maintain participant engagement in the long term

🇫🇷 Si c’est effectivement le cas et que le bonus peut doubler en cas de participation à 50 %, ne devrions nous pas envisager de mettre en place un plafond sur ce bonus afin de préserver une partie du "budget d'incitation" pour les périodes futures ? Cela permettrait de garantir un mécanisme plus durable et de maintenir l'engagement des participants sur le long terme

Michael-RealT

spK If i well understood, it's the minimal bonus expected to earn... if only a half of REG holders joins and votes during the incentive epoch, the bonus will be double pour active participants.

You are absolutely right, and your understanding is excellent. Indeed, the yield can be influenced by two main factors:

The total number of REG locked:
- If only half of the REG are locked, the yield for active participants will effectively double.
The voting participation rate:
- If 9 proposals are submitted for voting and only half of the locked REG holders vote on all proposals, this will also double the yield for these active voters.
- Participants who vote partially (for example, on 5/9 proposals) will see their yield decrease proportionally, thus increasing the yield for other more active participants.

It's important to note that these two factors can be cumulative, creating an even higher yield potential for the most active participants.

In any case, 100% of the allocated budget will be distributed to participants who have locked their REG and voted, ranked according to the number of votes cast and the amount of REG locked.

For those who wish to understand the calculation mechanism in more detail, the complete formula is available in the project Wiki. I encourage you to consult it for a thorough understanding of the reward system.

AlexRLT

Madricas If readers are left to understand other messages by their own means, then I am wondering the benefit of duplicate posts between English and French, or more languages.

C'est le choix de l'auteur d'avoir dupliqué son post en plusieurs langues. la seul règle reste d'écrire le premier post en anglais. 🙂

Michael-RealT

Madricas Si les lecteurs sont laissés à comprendre d'autres messages par leurs propres moyens, alors je me demande l'avantage des messages en double entre l'anglais et le français, ou plus de langues.

Je peux comprendre dans une certaine mesure pour les introductions, les guides ou les documents: les sujets sont verrouillés, il n'y a pas de discussion et le contenu ne devrait pas changer beaucoup.

Cependant, pour les conversations actives, comme cette proposition, cela introduit plus d'efforts pour avoir à garder les deux messages linguistiques synchronisés à tout moment. Il y a déjà un exemple de cela ici, avec le paragraphe "Etapes d'interprétation" manquant dans le post anglais (tagging @Michael-RealT pour l'ajouter).

off topic of the proposal, please stay focused on the proposal so as not to complicate the discussions on the subject

Benoist-Not-for-sale

Looks like an incentive to remove my liquidity from pools, which will make REG even more scarce

Michael-RealT

Benoist-Not-for-sale Looks like an incentive to remove my liquidity from pools, which will make REG even more scarce

Please see my answer to the first post from a community member who asked the same type of answer, and I would add that more Rare = more valuable therefore less sales more values

Michael-RealT

Yohann76 If this is indeed the case and the bonus can double with 50% participation, shouldn't we consider setting a cap on this bonus to preserve part of the incentive budget for future periods? This would help ensure a more sustainable mechanism and maintain participant engagement in the long term

The budget is a proposal, free to the DAO to mobulate it at the risk of seeing the yield decrease if too low, in any case the system cannot have ceilings, it distributes all the budget allocated.
Epoch 1 can be more generous and the future have a different budget, this allows the DAO to direct the effort and action in the direction it wishes

durand

Is this budget necessary to encourage the community to participate in the DAO ? Since the realT community is already quite active, natural participation without incentives would be insufficient for the DAO to function properly, in your opinion ?

Beyond this point, this proposal would actually allow testing the concept of incentive.

Michael-RealT

durand Is this budget necessary to encourage the community to participate in the DAO ? Since the realT community is already quite active, natural participation without incentives would be insufficient for the DAO to function properly, in your opinion ?

Beyond this point, this proposal would actually allow testing the concept of incentive.

it is impossible to answer the question of the community participation rate without incentives.

However I think it is a good approach to attract people who would not have participated without incentives, there are people who are present and interact naturally and others who need help.

Indeed it is a test, it is not an obligation to renew the operation systematically, nor that it be chained epoch after epoch, there can be weeks, months of pause and be activated only for judiciously selected periods.

It is a DAO tool to direct efforts, actions.

0xEzSwim

I can't wait to try the voting power system out !

BTW who is part of the Realtoken DAO technical team mentioned in this proposal? Is it the team that worked on the community dashboard or is it a team of RealT employees (the one who set the wiki, forum and tally in place I assume)?

Michael-RealT

0xEzSwim BTW who is part of the Realtoken DAO technical team mentioned in this proposal? Is it the team that worked on the community dashboard or is it a team of RealT employees (the one who set the wiki, forum and tally in place I assume)?

There are people from RealT and 3 very active people from the community

Joe

🇺🇸 A note: "Transfer funds from the RMMv3 treasury contract to the DAO Treasury (!!! 20% payment to AAVE DAO)"

Does this mean that out of the 6,000USDC, 1,000USDC is taken by AAVE as a fee? :-O

🇫🇷 Une remarque : "Transférer les fonds du contrat de trésorerie du RMMv3 vers la Trésorerie de la DAO (!!! paiement de 20% à AAVE DAO)"

Faut-il comprendre que sur les 6 000USDC, 1 000USDC sont prélevés par AAVE comme frais ? :-O

FmR

Joe Si j’ai bien compris c’est plutôt 7200 USDC retiré de la trésorerie du RMM 1200 USDC vont à la DAO AAVE et 6000 USDC vont a la trésorerie de la DAO

Yohann76

Joe

Does this mean that out of the 6,000USDC, 1,000USDC is taken by AAVE as a fee? :-O

🇺🇸 Yes, the 20% fees were agreed upon following a profit-sharing agreement between RealT and AAVE, as mentioned on the AAVE governance forum: https://governance.aave.com/t/arfc-proposal-for-deploying-whitelabel-aave-v3-market-for-realt-tokens-on-gnosischain/11897

🇫🇷 Oui, les 20 % de frais ont été convenus à la suite d'un accord de partage des bénéfices entre RealT et AAVE, comme indiqué sur le forum de gouvernance d'AAVE : https://governance.aave.com/t/arfc-proposal-for-deploying-whitelabel-aave-v3-market-for-realt-tokens-on-gnosischain/11897

Michael-RealT

Joe A note: "Transfer funds from the RMMv3 treasury contract to the DAO Treasury (!!! 20% payment to AAVE DAO)"

Does this mean that out of the 6,000USDC, 1,000USDC is taken by AAVE as a fee? :-O

no the 20% of AAVE is to be taken from the total that is taken out of the RMMv3 treasury, so we will take out the _35k, 20% goes to the AAVE DAO and the rest in the RealToken DAO treasury, the 6000 USDC will be taken from the Realtoken DAO treasury

Madricas

Michael-RealT Pouvez-vous tout de même éditer la proposal pour que le paragraphe sur les "Étapes d'implémentation" soit également présent dans la partie en anglais ? C'est une information importante qu'un anglophone risque de louper (cf certaines questions) à moins qu'il traduise le second post qui est en français, mais quel est l'intérêt puisqu'une version anglaise existe déjà.

Hmo

Michael-RealT I wonder if 6000 USDC isn't too high to start with due to the number of REG delegates in Tally (only 53 delegates now), I understand we need to attract participants with an interesting yield, but isn't it too high? Especially as it takes time for newcomers to understand what a DAO is in a short period of time (even with a wonderful wiki).