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Founder’s Node Governance Vote: Referral Incentive System for Ecosystem Usage

Founder’s Node Governance Vote: Referral Incentive System for Ecosystem Usage

Following extensive conversation with the community and having hosted an AMA in the Founders Node Owner channel, the originally posted proposal has been modified in several ways.

  • Currently, this will apply to all existing referrals, but eventually there will be a point at which they must be “written to chain” via a burn. This will ensure that in the long-term, only those who are active in the ecosystem continue to benefit from the referral system
  • In the end state, referrals will be temporary unless written to chain by a burn. This means that a web2 user can refer a friend and benefit from that referral, but that it will expire unless they “claim” it via a burn in the social dashboard.
  • The time to implement the full version of this is 90 days, rather than the initial 7, due to the added lift on engineering and design for the ability to write all referrals to chain.
  • Rollout will be phased:
    • Two Weeks: Burn rebates for referrers based on burns on ETH.
    • One Month: Burn rebates for referrers based on GalaChain.
    • Two Months: Referral Dashboard v1
    • Three Months: Referral Dashboard v2 + Write Referrals to Chain
  • After this phased rollout, non-chain referrals will begin to count-down towards expiration. 

The remainder of the proposal remains the same. 

Proposal Overview

The core of this proposal introduces a referral system designed to incentivize ecosystem supporting actions. By engaging in token burn activities, users contribute to the ecosystem’s sustainability and incentivize the long-term Founder’s Node support of the ecosystem. In recognition of the importance of community-driven growth, the proposal outlines that when a user (USER C) initiates a burn, the account that referred USER C (USER B)  will receive a reward equivalent to 8% of the burned amount. The account that referred USER B (USER A) will receive the equivalent of 2% of the burned amount. This initiative aims to foster a more engaged and collaborative community, encouraging wider participation in the ecosystem’s development.

This will not impact the Founder’s Node emission rate, but can be looked at as a referral burn rebate for ecosystem supporting actions. 

In the event that there is no referring party, then there would be no referral burn rebate. 

Example:

  • User A refers User B.
  • User B refers User C.
  • User C initiates a burn of 1000 $GALA
  • User B receives a mint allowance for 80 $GALA
  • User A receives a mint allowance for 20 $GALA

Actions which would qualify:

  • Purchase by burn
  • Gas fees
  • Channel establishment fees

Note: All previous referrals would still remain part of this system. If you have referred a user previously and they are a part of your account, then you would still receive the referral bonus based on their gas burning actions.

Key Highlights:

  • Referral Rewards: The introduction of a referral reward mechanism encourages existing ecosystem participants to bring new users onboard, enhancing the network’s robustness and activity level.
  • Incentive Structure: Focusing on on-chain actions, excluding bridging activities, ensures the incentive mechanism is transparent and straightforward. This clarity is crucial in maintaining the integrity and purpose of the incentive system.
  • Implementation Timeline: With a commitment to agility and responsiveness, the proposed system is slated for implementation within 90 days following approval. This rapid deployment timeline underscores the ecosystem’s dedication to innovation and timely enhancement.

Community and Governance Engagement:

Consistent with the ethos of transparency and collective decision-making, this proposal will undergo thorough discussion within the Founder’s Node Operator. There will be at least one AMA on this topic, with extended engagement, to gather feedback ensuring that the proposal is refined and aligned with the community’s vision and needs.

Voting Options:

The voting options are currently as follows, though they may be modified by discussions prior to a governance vote:

Vote Question:

Should the Referral Incentive System be implemented to enhance ecosystem sustainability and community engagement?

Yes: I support the implementation of the Referral Incentive System as proposed, recognizing its potential to enhance ecosystem sustainability and community engagement through incentivized token burns.

No: I do not support the proposal as it stands. I believe that the proposed referral system and token burn incentives may not align with the ecosystem’s long-term growth and engagement goals.

Abstain: I choose to abstain from voting on this proposal. While I acknowledge the importance of community-driven initiatives and ecosystem sustainability, I require more information or am neutral on the impact of the proposed referral incentive system.

This vote will end next Monday, March 18th, 2024 at noon PT.

Conclusion:

This proposal represents a strategic step towards leveraging the Gala Founders Node Ecosystem’s full potential, encouraging active participation, and rewarding contributions that drive the ecosystem forward. Through collaborative efforts and a shared commitment to innovation, the ecosystem can continue to evolve, offering increased value and opportunities for all participants.

The Next Act: Gala Film Roadmap

The Next Act: Gala Film Roadmap

We’ve been working hard here at Gala Film to bring a full-scale launch to you during 2024. Building out the film platform of the future does take some work, so we wanted to touch base with the community about what we have planned throughout the year as we bring Gala Film live piece by piece.

Act 1: March and April, 2024

Within the next two months, we’re planning to bring at least three films picture locked on the platform including our Launch Film which we’re targeting this time period to push live.

By the end of this period, we’re targeting Films and Series being streamable on the platform and hosted by Film Nodes. During this timeframe we also want to get POPCORN distributions online for both Moments and Nodes, incorporate Distribution Boosts and debut unlockable content experiences.

We’re also planning a comprehensive overhaul to film.gala.com during this time, to bring it up to the new standard set by the recent facelifts to the Games and Music platforms.

Act 2: May through June, 2024

During this timeframe we will continue to expand the platform and features in the leadup to a full release. At this time, we’re targeting having an additional six films picture locked, with releases beginning to stream out.

This is the time period when we’ll be targeting the token launch for Gala Film, incorporating bridging and implementing other token utilities to bring Gala Film more into touch with GalaChain and the greater Gala Ecosystem.

This is when users will begin to see more robust User Profiles and a community progression system on the platform as more ways to interact with Gala Film become available.

Act 3: July through End of Year

During the last six months of 2024, we plan to have an additional nine films picture locked, bringing the total on the platform to at least 18. By this time, it is our intention that films will be released regularly, with the community fully aware of the planned release cycle.

Additional token utility and site enhancements will continue to roll out during this phase as we complete the launch cycle of Gala Film. 

Building for the Future

It’s important to note that there will still be a ton more coming after this release cycle. This is a very important year for Gala Film, and we want to be as forward as possible about our plans with the community who has supported us.

We plan on putting more information out across the next few months detailing more specifically how Gala Film will work, and what we’re building towards. We’ve always been very active with our community in Discord, but we’ve moved past the beginning of this project where things are moving quickly and evolving continuously. Now that we’re laser focused on our goals, we want to build this into a readily accessible source of information on Gala Film over time.

We’ll still always be very active with our Discord community in addition to creating more documentation and information here – join us in the Gala Film Discord to always keep in the loop on the latest!

Development isn’t always a linear path, so expect some degree of the unexpected along the way. We will continue to pivot to challenges as they arise to provide the best possible experience to our users. We will try, however, to update the community  here should we deviate too wildly from this roadmap over the next year. 

Thank you all for being a part of Gala Film. Let’s build the future together.

Revealing the Future: Gala Blueprint 

Revealing the Future: Gala Blueprint 

We’d like to share our vision as we move out of the early days of Gala’s development and into the future of GalaChain

Five years ago, we hosted one game. This was when GalaChain was, at best, a distant dream. Now here we are with over a dozen independent projects running on our own L1 blockchain. We’re not slowing down either… more projects are continuously releasing.

We will always be Gala Games, but we’re also so much more now. GalaChain is the fabric that ties together everything that we do, and we’re planning for a future where it is at the forefront of our strategy.

Building for GalaChain

GalaChain exceeds performance metrics on similar blockchains. This is primarily because it’s been forged in fire, so to speak. Gaming is one of the most demanding activities on any tech, and the fact that we’ve built GalaChain to not only accommodate it but also excel at it is a HUGE strength.

This is the need we saw when we started working on GalaChain. Nothing out there really held up to the level of demand required by popular, high-end games. It wasn’t easy, but we optimized the chain and we made the tools.

Now those tools are huge assets to us that can be converted into tools for other developers. It’s not just games either… these tools are tested for development. Many things we’ve learned under the pressure of games translates to all kinds of development.

Building for the Future

Our chain has another vital asset that we can’t ignore– our Node Network. The Founder’s Node network itself is a massively powerful tool and one of the largest decentralized node networks in the world. Even more importantly, however, we have streamlined the creation of independent node networks on GalaChain.

This means a new developer could come in and use our tools to spin up a node network to support their project. They could utilize tools that we’ve crafted after learning hard lessons. They could utilize our existing pipelines to create new and exciting things… even better than we could have ever dreamed of!

Gala Ecosystem Blueprint

We can’t do this planning document justice in just a short article though, so dive in and check out everything that we have planned!

We can’t wait to build the future with you.