Description

This proposal is for the implementation of a points program for users of the Open Dollar protocol.

Motivation

[A statement on why the Open Dollar community should implement the proposal.]

Points programs have been implemented by various new DeFi and Web3 protocols to accelerate their growth in early stages and have served as the basis for fairly attributing user contributions to key performance indicators.

A points program for the Open Dollar protocol would aid initial user acquisition efforts and bolster its positioning against competitors who employ similar incentive programs in this highly competitive market.

This program should also support the growth of the protocol and retention of its users through a wider distribution of ODG tokens.

Specifications

Rather than suggest specific technologies, metrics, actions to incentivize, token allocation, or other details, it is proposed to leave this to the discretion of the OpenFi Foundation and its partners to decide on the best method of implementation, in order to ensure protocol growth, while preserving the fundamental principles of decentralization and ungovernance, upon which the Open Dollar protocol was built.

Steps to Implement

Unspecified, as this type of program is complex, it should be left to the discretion of the Foundation to determine what steps are necessary and to follow them accordingly.

Timeline

The exact timeline will be left to the discretion of the Foundation based on their readiness to coordinate and execute. No specific timeline will be proposed, other than a preference for this to be performed as early as possible.

Overall Cost

No proposed cost to the DAO Treasury is suggested at this time.

The scope of this proposal is to implement the technology and marketing side for the program, which may be determined and covered by the OpenFi Foundation.

At an appropriate and clearly communicated interval, program KPIs should be made publicly available for the DAO to evaluate the success of the program and allocate tokens from the treasury accordingly in a manner that fairly rewards participants and promotes the continuation of the program.

Add proposal actions to be executed if passed

Design, implement, and release a Points Program for Open Dollar.