In order to fuel the growth of apps building on our ecosystem, I’m proposing to experiment with App Mining rewards for the Rarible protocol. Below is an outline of how this would work.
- Currently, 75% of RARI rewards are distributed weekly to buyers/sellers on the platform, with the remaining 25% going to the Rarible DAO.
- This proposal aims to reward app developers building on the rarible protocol by offering them a slice of the RARI rewards.
- Importantly: We treat this as an experiment!
- 2% of weekly RARI rewards (1,500 RARI weekly) be distributed to app builders, proportional to the amount of sales generated on their application (excluding rarible.com). This amount would come from the 75% currently being allocated to buyers/sellers.
- Rewards start once sales generated on apps reach $5K per week
- We can scale this reward up once the number of apps grow, possibly capping it at 10,000 RARI per week. RARI rewards could increase as the amount of sales on the platform increases. Examples of this relationship are shown here (any help on the model would be appreciated!)
- We try this for 2 months, and re-assess on whether this was a good use of funds or not
- In order to prevent a single application from receiving a too large % of funds, RARI rewards can be distributed quadratically
- It might be beneficial for projects to be “approved” for this program to ensure that rewards are going to apps which are trustworthy (?).
Any thoughts would be appreciated!