Please refer to the full proposal text on the SafeDAO forum. Some parts may have been removed to fit within the character limit on Snapshot.
Title:
[Draft] Safe Boost on Gnosis Chain
Authors:
@karpatkey
Created:
2024-11-1
Abstract
Safe Boost is a 6-month rewards program to expand Safe activity and users on Gnosis Chain where users earn points when performing certain activities. A total of 250k SAFE tokens will be distributed as part of the program, based on the points accrued.
As the Joint Treasury will fund the program, no additional funding is required for this initiative.
If the proposal receives support from both Gnosis DAO and Safe DAO, karpatkey will operationalise the program described below on behalf of the JT.
Proposal types
State which proposal type this proposal belongs to.
[] SEP: Constitutional Proposals
[] SEP: Governance Proposals
[x] Other SEPs
Proposal details
Purpose and Background
As the treasury manager for the Safe DAO <> Gnosis DAO joint treasury (JT), karpatkey is responsible for allocating funds to initiatives to expand the Safe and Gnosis ecosystems. Within that scope, we propose launching a rewards program on Gnosis Chain, mirroring the activity included in the current Safe{Pass} program on Ethereum Mainnet. The goal is to boost Safe user onchain interactions on the Gnosis Chain and grow the number of SAFE token holders on the Gnosis Chain.
This campaign will also serve as valuable experience in assessing the impact of incentives on the overall Safe activity in Gnosis Chain. Insights gained will help refine future initiatives, allowing for continuous improvement and increased efficiency based on real data.
Safe Accounts on Gnosis Chain
Out of the more than 280,000 Safe accounts created in Gnosis Chain since the beginning of 2024 to the end of Q3:
- Around 10,000 Safes have had at least one week with more than 1 USD in TVL
- Around 18,000 Safes have made at least one transaction
- Around 6,000 Safes have transferred at least 1 USD in value
Implementation
Key Questions
- Who is needed?
- Did you reach out?
- Is there a roadmap?
Safe{Boost} is a 6-month rewards program to expand Safe activity and users on Gnosis Chain. Users who perform the activities listed under the behaviour section in Gnosis Chain (subject to eligibility terms) will earn points. Points will be updated weekly and made public in a Dune Analytics dashboard.
The program will be administered by karpatkey, the manager of the JT, who will be responsible for tracking, determining, distributing the rewards, and reporting the results.
Eligible Activities
Safe users who conduct the following actions in Gnosis Chain will be rewarded with points:
- Transaction count: The number of transactions made with your Safe Account.
- Transaction volume: Volume of the transactions made with your Safe Account (accounts with at least 1 USD in volume are eligible for points).
- Assets stored: The total value of assets stored in your Safe Account (accounts with at least 1 USD in TVL are eligible for points).
- Regular user: Make at least one weekly transaction with your Safe Account.
Specific actions related to program partners will also earn additional points. Each activity related to a program partner will be specific, have separate rewards, and might also qualify for points. karpatkey will reach out to protocols on the Gnosis Chain that are relevant to the ecosystem and also present a synergistic opportunity to onboard them to the program.
Duration
The program will last for six months. Pending DAO approval, it is expected to start on January 10th, 2025, and finish on July 9th, 2025.
Rewards
Once the program ends, a total of 250k SAFE tokens will be distributed based on the points accrued throughout the duration. These SAFE rewards will be distributed by a stream funded from the JT on Gnosis Chain (or a specifically designated Safe with the JT wallet on Gnosis Chain as an owner) to all eligible Safes, with a stream duration of 3 months.
As the Joint Treasury will fund the program, no additional funding is required for this initiative.
Terms of Participation
Terms of Participation are drafted in this document.
