Proposal for the first grant cycle

The other day, I have posted a summary of the current ideas/plans for grants/rewards here: Initial plans for contribution grants/rewards

Based on that, and given that we solve the topic Move to native bitcoin multi-sig wallet for community funds within the next few weeks, I would like to propose the first cycle for monthly grants to match block heights roughly for the month of November, starting November 1.

I checked if there’s a nice round block number that we could use for this historic event, but alas, there is not. So we could choose whatever the height is at a predefined time on the 1st. The cycle length in blocks should of course be decided upon in advance, and will inevitably not match calendar dates exactly.

We would need to finish the tasks laid out in the initial-plans topic, most importantly deciding the ratio between grant-by-month and grant-by-overall-contributions. I would propose to decide on an initial number, that I’m sure we’ll have to adjust based on trialing it anyway, during the Kosmos Weekly Call this Thursday.

Of course, we may also want to adjust the cycle length, as well as other variables in the future, based on our experience from the trials.

@Core What do you think? Time for lift-off?


Note from the weekly call today:

Everyone agreed to this proposal, and after having demoed the modeling sheets in the call today, we will decide on the initial numbers in next week’s call.

Team @Kredits will pick the block height on Nov 1, and propose a block length for cycles before the next call.

How about block 7471592 as the initial one? It was mined almost exactly at 12pm UTC:

Nov-01-2020 12:00:05 PM +UTC

@bumi Could you propose a cycle length in blocks perhaps?

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as we do it manually we are able to check for the block on Nov-30-2020 23:59
maybe around block 7645400 - but I think rinkeby is not that predictable.

Yes, but in the last call we agreed that we should emulate the automated system, which would need fixed block intervals for cycles. That way, we can see how that would work out on mainnent.

let’s use block 7645400

Changed to noon that day:

This means a cycle interval of 176620 blocks.

We had to move the end to 2pm UTC, due to the initial kredits not having been created/proposed before then.

Looks like the closest block is thus 7644352. And we need to calculate the normal cycle length in blocks next time, when it’s 2pm to 2pm UTC.

I cannot participate in this week’s call, as I will be on a plane at that time. However, we should really finalize the first cycle and payouts before Christmas IMO.

@Kredits Can we please do a special call about this, perhaps tomorrow afternoon?

Sure, tomorrow I’m available anytime in the afternoon

today afternoon, 2pm or later works for me.
just sadly I don’t have much time this week.

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Cool, how about 3pm then? /cc @slvrbckt

Sounds good, see you in 30

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