A proposal to implement impact staking options for governors: xGov-75 Social Impact Staking for Algo governance by CashdilloXGov · Pull Request #75 · algorandfoundation/xGov · GitHub
More on the why here in this Medium article. Why Social Impact Staking (SIS) for Algorand governors? Because it’s in the spirit of Silvio Micali and Algorand. | by Cashdillo | Medium
Please support the proposal!
We can all give something back through Social Impact Staking. We can make giving automatically part of how a blockchain offers itself to its ecosystem: an ecosystem assuming its generational responsibility to contribute to the UN’s Sustainable Development Goals (SDGs).
SIS: How would it work?
- Algorand governors Opt in for SIS from 2024/2025
- Governors decide on what % of their rewards to donate to the SIS program
- ALGO holders then visit Cashdillo to vote on which projects get allocated funds and how
- Join Algorand Impact DAO to help govern the process
Hey @cashdillo - xGov requests to implement programs that need to be integrated with Algorand Governance are not allowed within the xGov pilot criteria.
You can resubmit your proposal for the next session, after discussing your idea with the community and modifying your scope accordingly.
For example, Algo Holders can deposit their Algos themselves to Cashdillo (like in any other crowdsourcing platform) and vote on the proposals they like.
Hi. Thanks for your comment. As per our Medium article, we shaped this with key members of the community. We plan to implement it with them too. I am not sure I fully understand your comment.
You proposal, as we read it, would require an integration with the governance platform for governors to redirect their rewards payments, this integration falls outside the scope of the program.
If your proposal was to build your own platform, so users could pay algos to it, that would’ve been ok.
Not necessarily. There are many ways we could iron out the tech challenges later. The key is to link it to governance rewards and have the proceeds governed by a DAO to reinvest into the ecosystem. I don’t think there would be too much heavy lifting your end. We have actually already discussed this, remember? Ultimately, we think it is a sustainable, transparent and good way to use a small share of staking rewards for a community impact grant.
We have rallied five other major companies in the ecosystem to endorse it and help refine the idea. Not sure what else we have to do. You are the guardians to the decentralised vote though so obviously you’ll decide and we respect that. But it is disappointing if it does not even make it to a vote as a lot of work went into this.
Yes, I remember we discussed this and, at the time, we informed you that an integration with the governance platform is not an option.
We suggested that you share your idea with the community to find other avenues for your funding and, if the community was on board, you could submit a grant proposal through the xGov program to seed it.
Unfortunately, as it is worded, your proposal will not go through this round, as we can’t have something approved with the expectation of integrating with governance when that is not an option.