Ways to keep Yup Treasury alive

We all know DAO quests are rewarding our small community. LP rewards are given in huge amounts. Curator and Creator rewards are going out rapidly. There will be time in future when treasury will be low in YUP balance.

Here, I have some suggestions to keep the treasury alive:

Micro txns for actions in the app & extension.
By micro txn I mean micro cost. It may be 1/1000th of a YUP upto 1/10th of a YUP token.

  • For every vote casted AFTER the daily limit, 0.001 YUP to cast 1 vote. Upto 100 votes per day per user
    allowed.
  • 0.1 - 1 YUP to create a new collection.
  • Instead of Yup sending out curator, creator and LP rewards, let the users CLAIM these rewards from
    Yup with minimal fees like 1 YUP. This action can be done once a day per user.
  • This mechanism of CLAIMING rewards is not anything new. This can be implemented in next version of
    the protocol.
  • This will also bring some cost down at the backend (Probably. I don’t know by how much.)
  • After completing quests, members need to claim the rewards instead of sending them out.

All these small fees can be deducted from the wallet itself. Either by signing txn every time OR permission to spend for particular action all the time (like “always allow”).

I hope you get the gist of my vision/idea/suggestion.

Let’s hear from all of you and team and devs.

@nir @PBJ @andrei0x309 @daniiba

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Yeah, in the last meeting I think you proposed this but I believe the meeting was about to finish, and there wasn’t time for an in-depth answer.

The first thing is the vote here in the snapshot Snapshot
shows how much the treasury will get funded.

So the question is don’t you find that founding appropriate?

Personally for the time being I find it how I wanted it especially since the final result reflected my vote which and was the highest proposed funding.

That being said I am in favor of manual claiming, and not only manual claiming but also manual claiming with expiration time where claims would have an expiration time after which they are annulled and the tokens burned.

The transaction fee for every vote I think is more complicated due to two 2 reasons, first would require signing for every vote which is not desirable due to UX implications.
And the second reason is that will have a security overhead since signing is involved.

Also buying rate limit after the maximum is not something I personally like, as my opinion is that the votes currently allowed are already too much, and it would make sense only if you charge a lot more than 0.001 since that will not even cover the costs of transactions, buying votes should be calculated at a stable coin rate as for the price I would charge something similar to 5$ per 20 votes.

The last point about charging for creating collections I personally approve since it will probably increase the quality of collections and reduce spammy collections, but I don’t know if it’s easy to reach a consensus on that since will probably drastically reduce the number of collections created and that could be a point of contention and a roadblock in reaching wide consensus.

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I like you this idea:
That being said I am in favor of manual claiming, and not only manual claiming but also manual claiming with expiration time where claims would have an expiration time after which they are annulled and the tokens burned.

It is excellent point you made with token burning. I think we can give users time of a year for claiming. That is enough in my opinion.

Second, I did not mean to say that txn fees for every vote. That will be ridiculously complex for both the devs and users. I meant to say that txn fees for creating collections, sending YUP to other wallets etc.

I agree that current voting limits are high. Team can calculate the fees for extra votes.

Totally agree with your last point about quality of collections. We can do one thing: charging fees for creating collections based on numbers. Like, collection of 3, 5, 7, 11 things with respective prices. More you wanna collect, more you should pay in fees.

I hope these suggestions gets community approval.

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