Drift Futarchy Proposal - Welcome the Futarchs

Overview

This proposal requests 50,000 DRIFT to carry out an early Drift Futarchy incentive program (max of 10 proposals / 3 months).

This proposal is meant to signal rewards for strong forecasters in futarchic markets by:

• Rewarding early and active participants of MetaDAO with tokens to participate in Drift Futarchy (via the "endowment effect")
• Incentivizing future well-formulated proposals and activity for Drift Futarchy

This proposal's outline is fulfilled over months by the executor group, acting as a 2/3 multisig, defined below.

Implementation

Retroactive Reward:

Using the following dune dashboard data as reference: https://dune.com/metadaohogs/themetadao (with May 19th, 2024 UTC as a cutoff date)

• METADAO activity
• META token holdings

Among those who interacted with metadao's conditional vaults on at least 5 occassions over more period of 30 days, will recieve a retroactive reward as follows:

• < 1 META, 100 DRIFT
• >= 1 META, 200 DRIFT
• >= 10 META, 400 DRIFT

This code produces the following list of 32 MetaDAO participants who are qualified: https://gist.github.com/0xbigz/056d3f7780532ffa5662410bc49f7215

(9,600 DRIFT)

Additionally, all MetaDAO AMM swapers interacters https://dune.com/queries/3782545 who aren't included above should split remaining.

crude snapshot: https://gist.github.com/0xbigz/adb2020af9ef0420b9026514bcb82eab

(2,400 DRIFT)

Future Incentive:

The following applies to the lengthlier of next 10 proposals or 3 month time frame

Additionally, excluding this instance, passing proposal that are honored by security council can earn up to 5000 DRIFT for the proposer(s), each claimable after 3 months after. (if successful proposals exceed two, executor group can decide top N proposals to split) (10,000 DRIFT)

For accounts sufficiently active during the period, a pool of 20,000 DRIFT will be split and claimable after 3 months. To filter for non organic activity, the exact criteria for this shall be finalized by the execution group. (25,000 DRIFT)

Execution Group:

A 2/3 multisig to escrow and distribute funds based on outline. After successful completion of this proposal, they can distribute their allocation as they see fit.

In the event of uncertainty or excess budget, funds shall be returned to originating wallet or Drift Futarchy DAO treasury. (3,000 DRIFT)

• metaprophet
• Sumatt
• Lmvdzande