Due to OpenGov’s diligence, undelivered and red flagged referenda still remain a low percentage of the cases. But we’d like to open the discussion about what we think it’s an alternative for undelivered referenda which is inspired by the Bug Bounty Programs offered by many entities.
It is the incentivisation of entities who are in charge of the mediation and actions that lead to the successful return of funds granted by OpenGov to a proposer of failed referenda.
With an economically aligned model for all interested entities willing to intervene on undelivered referenda, OpenGov doesn’t need complex structures or gatekeeping committees in charge of failed referenda seeking fund returns as the first line of action or other less effective ways to deal with this issue, rather, a more diplomatically economically incentivized way potentially more effective to deal with honest to neutral entities who were incapable of delivering referenda.
Risks.
The only possible risk to this approach is that, referenda could potentially be presented intentionally with the option to only claim undelivered bounty funds through a third party. Though experience has shown us that OpenGov can sift through this and many other risks almost flawlessly and detect these plots well in advance.
Range.
We propose a 5% to 10% bounty for the entities that mediate the successful return of funds from an undelivered/red flagged referendum. With a decreasing curve starting at 10% for the lowest grants and ending with a 5% cap at 100k USD value at the time of return. Percentages shouldn’t be treated as completely fixed but as a suggestion of the bounty request.
Requests will be presented to OpenGov as a referendum after the successful return of funds that the party who returned the funds failed to deliver. The percentage of the bounty will only apply to the returned funds.
Example Range.
Higher Incentive Range.
Gentler Slope Range.
