Hello everyone, please find below the Folks Finance TDR allocation for GOV13 period.
Feel free to share your feedback.
Note: * Allocation may vary during the period. Some pools will have a higher allocation because they will be co-incentivised by our partners
We’ve become flexible with cross-chain assets over the years but it’s starting to feel like overkill.
I’ll also add that I have little confidence that these pools are being utilized by enough unique wallets and/or with a decent enough spread. Essentially enriching a number of wallets that aren’t meaningful—simply for giving us the time of day.
At the very least, the list of pools should be condensed and the amount requested should be more frugal with respect to the recent transparency report. But, TDR feedback has been mostly white noise with little action in the past from respective platforms.
I’d also like to know if these platforms are able to vote for themselves in any capacity through governance, and if this is being enforced in anyway.
It’s not unlikely they have a heavy voting weight with disregard for community sentiment in some aspects, as we’ve witnessed with one of the largest grant receivers in xGov Periods 1 to 4.
A separate argument perhaps, but I feel any holdings exceeding the average community member by 20 fold and affiliated with platforms that are consistently injected with funds should not be eligible for voting and carefully tracked. Otherwise Algorand becomes the platforms’ chain, and not the community’s chain.
Spends for things like “marketing” and “zealy” are fungible with FF’s general operating expenses. Unless FF wants to open up all its books and records to inspection, this is a black hole into which governors have no transparency or way to verify spends and whether it is worthwhile. It also does not seem to fit in with the goal of TDR. TDR should not be used for this stuff. Please reallocate those spends.
USDC yield is becoming increasingly competitive. I’d like to see more weight behind USDC deposit boost. Having one of the best available yields on USDC could bring a lot of newcomers who are just looking for a good place to park their cash. Case in point, it’s what led me to Folks initially, but now I have most of my USDC elsewhere.
I mirror Tryvis’s USDC comment. My USDC is currently sat in Coinbase earn as you aren’t competitive.
Separately, please can you share the Zealy achievements/stats from last Governance’s 50k, or not request further allocations towards something that can’t be justified.
Hi @GhostOfMcAfee@Gov_algo@Dunn Thanks for the feedbacks. Zealy is marketing, I edited the post to avoid misunderstandings and regarding transparency, both algo reward distribution and results are always public. In this document you will find the metrics related to the Zealy GP11 campaign (Folks Finance GP11 Zealy report - Google Docs), the GP12 report will be published at the end of the quarter.
About Zealy, I strongly disagree. It has proven to be a successful initiative from several points of view:
Content creation
Community activity
Social presence
Increases users “loyalty” to the protocol
Attraction of new users
Increasing mutual support
Also, I personally think this is how the marketing TDR should be used, because you’re rewarding real users who are providing real value, and they’re also spending a lot of time doing it. The results could be even greater if this will be expanded in a larger scale.
@Gov_algo Regarding the xALGO/xxx pools, we still don’t know the exact date of when the consensus rewards will be released in Q4, so we decided to allocate a “small amount” in the main pair to initially bootstrap the liquidity.
@Tryvis@dunn Thanks for your feedback, the USDC deposit boost % is still in line with the previous allocations, however we can evaluate your comments and increase the allocation
Marketing is a core operations spend of any project. This sets bad precedent (as every project could justify using TDR for marketing) and it should not be funded by from the AF treasury.
This is a very small percentage and it is almost impossible to do anything better with such a small amount. The initiative is aimed at increasing the TVL, attracting new users and retain them, so it falls under the TDR scope. But again it is a small % and the allocation is totally redirected to the users and everything can be tracked publicly
50k worth of Algo is almost more than 99% of Algorand Wallet holdings. It’s ~half of some platform’s TDR. Please don’t treat it as small as you are in a privileged position with how much TDR you are receiving.
The Sheet Link asked me to log in, and I’d rather not if that’s ok. From the Gov.11 spend on Zealy, would you be able to share how many new wallets were created and can be tracked back to Zealy, how many of those wallets interacted with Folks, how many of the Gov 11 wallets are still active in the last 30 days, and an approximation of their balances so we can see if they are of substantial value?
I think this is the best way to track and quantify the Zealy activity and should be possible.
My comment was referring to the Folks Finance allocation and not on the value of 50k Algo. Folks Finance also is the only project with capped rewards, which is fine for us as we want to support every protocol in the ecosystem, was just to reply to the point you raised
The link should be open to anyone, but I copied and pasted the metrics so that you can view them
Commit at least 100 ALGO to Liquid Governance. : 15 quests
-Commit at least 500 ALGO to Liquid Governance. : 11 quests
-Commit at least 1,000 ALGO to Liquid Governance : 14 quests
-Commit more than 2,000 ALGO to Liquid Governance : 72 quests
Seeing the specific types of activities this would go to helps a lot. I personally would like to see more going to people who are using the chain (rather than doing simple things like posting on X, TG, Discord). I also hope that there are methods to ensure this isn’t being gamed by people employing multiple accounts. But, my primary concern here was that a nondescript request for “marketing” without any sort of guardrails becomes just a slush fund.
I still maintain my wider concerns regarding TDR as a whole (not specific to FF) that it lacks a clear structure on its goals, how funding should be used to achieve those goals, and any method for measuring success or lack thereof.
In some sense all TDR is marketing. It allows DeFi apps to have higher APR that attracts more customers.
TDR are also a way to distribute ALGO to users which is what the zealy campaign does. In my opinion the zealy campaign is very well crafted. I have been participating for several rounds and if you want to be rewarded you need to have an important on chain activity related to Folks Finance and to produce meaningful quality content. Of course you’ll have some bots trying to participate but they cannot win rewards.
: 15 quests
: 457 quests
: 435 quests
: 435 quests
: 437 quests
: 429 quests
: 428 quests
: 105 quests
: 106 quests
: 11 quests
: 264 quests
: 309 quests
: 173 quests
: 144 quests
: 108 quests
: 134 quests
: 111 quests
: 123 quests
: 1,801 quests
: 262 quests
: 264 quests
: 132 quests
: 128 quests
: 17 quests
: 49 quests
: 43 quests
: 286 quests
: 107 quests