Retroactive Funding

The community will pick the best contributors to the protocol every month!

Julien Genestoux

 On Dec 1, 2021

In an effort to provide more support to our community builders, members and supporters, we're launching a retroactive funding campaign. The short and sweet is that we want to support the supporters of the protocol in a way that is decentralized and open to the entire community to vote to decide who gets rewarded for their past participation.

Unlock Inc is allocating 100 UDT each month to the community and, more importantly, we want to let the community decide who should get them, with the hopes that the community will allocate them to whoever had the biggest impact on the protocol in the previous month.

Here is how we're doing it:

  • On the first of every month, we will create a new thread for nominations on Anyone in the community is free to apply for themselves or someone else and explain why they should get some governance tokens. The only requirement is for the person to post the address that should receive tokens!
  • On the 8th, we will close nominations and open a Snapshot vote for each and every address that was nominated. We will use a quadratic voting strategy so that the number of voters matters (vs. just their token balances). Voting is off-chain and gas-less (free!)
  • At the end of the voting period (8 days), Unlock Inc. will split the number of tokens between all the addresses, using their relative share of votes. We will distribute these tokens on the Polygon network in order to reduce the impact of high gas fees.

And it starts… today! We hope to do that every month for at least one year, but we will re-evaluate every quarter.

Our mission here is simple. We believe that the more adoption we have by builders and creators across the ecosystem, the stronger the protocol will become and the more we all benefit as a community. But not every contributor or project falls into our grant program or other means of support, so we feel this retroactive funding will help provide that additional support that is needed to grow our community.

We really put trust in the community and we hope you will all use that mechanism as a way to reward our active community members!