Note: the following is part of an emergent grass-roots development process, that you’re witnessing/enduring. Apologies for all the mess.
There has been a steady, but accelerating move towards rethinking treasury financing (see @agyle’s Incentive Pools) and various stake/cashflow models but none focus directly on driving direct demand for the essential resource being offered by the protocols and therefore will all continue to have minimal / detrimental effects on the basic incentive design of Kusama/Polkadot.
With the arrival of the more focused product of coretime NFTs, we have the opportunity to collectively unlearn a bunch of stuff and focus ecosystem resources towards more effective models for driving adoption, awareness and impact across every aspect of ecosystem convention.
Currently individuals or teams present proposals to the common good treasury in the form of bounties that pay out with relatively subjective deliverables or against KPIs unrelated or detached from the essential resources provisioned by the network - namely coretime.
Individual off-chain teams structured around a project or within subjectively defined domains e.g. infrastructure, marketing, research, user interfaces.
Money cashflows experiments and there is no expectation of return. Risk falls heavily on all involved.
Effort and resources are external to the protocol resulting in scattergun targeting, low conversions, high cost, lots of duplicated effort and often capital flowing to incumbent data monopolies.
Results: depletion of shared resources, popularity contests, degradation of culture, loss of talent, people are busy (burned out) but not effective, limited financial upside and often downside.
impossible to objectively define, assess and reward in a generalisable way.
By identifying coretime demand as the primary benchmark for assessing spending effectiveness we can rethink treasury financing, project development and organisational structures from the ground up.
Anti-disciplinary (full stack) on-chain collectives partnering ecosystem native talent with external creators and patrons organised optimistically via pure proxies to deliver coretime impact and sharing in upside together.
Money advanced (like a record deal) and recouped against income generated by coretime collectives.
Effort and resources are driven into the protocol resulting in more focused targeting, higher conversions, lower costs and capital staying within the emerging economy as it is recouped from successful experiments.
See YouTube’s 2012 ‘Original’s initiative’ where they advanced funding to creators and recouped against advertising revenues. It was a huge PR, awareness and adoption success that was followed by a second year incubator.
Results: conservation (and expansion) of shared resources, meritocratic contests, elevates culture, recruits talent, people work smarter, opportunity for large financial upside, downside capped with treasury taking risk.
Possible to objectively define, assess and reward in a generalisable way.
By establishing the essential purpose of common good treasuries as Coretime Bounties, we can begin to better design, develop and evaluate impact based proposals whilst encouraging collaboration between existing ecoystem contributors and external talent that can create positive rather than zero sum games.