Summary
Velora Protocol has reached a turning point following the Miro Project, its rebranding, and the launch of its new token, VLR.
Laita, as a service provider, is making a significant effort, leading both the development and marketing of these changes. Still, we believe the DAO and its delegates should actively join these efforts to become a key piece in the growth and success of the protocol, which should be the ultimate goal guiding all DAO activity.
In this context, as part of the Governance Task Force (GTF), we present the Delegate Activation Program for VLR growth and adoption ideas. The aim is to encourage delegates to propose high-level, concrete, and feasible ideas focused on VLR token growth, including initiatives that promote new use cases and adoption, increase TVL and trading volume, or implement buyback mechanisms and liquidity programs, among other possibilities.
This program is strategically aligned with the success of the protocol, so we encourage delegates to prioritize it and give their best effort.
Recent Activity on VLR Growth
The Velora Growth Committee (VGC) has already made some concrete efforts in this direction, such as:
- The recent Veloraās OP Grant Application, which aims (if approved) to incentivize VLR utilization on Optimism.
- The recently approved PIP-72, which seeks not only to promote experimentation in Futarchy but also to create a VLR/stablecoin liquidity pool and add Velora infrastructure in Futarchy.fi application.
- As mentioned in the past Community Call, the proposal regarding the deployment of Liquidity into Liquity V2 and Balancer v3 VLR Pools with BOLD incentives is about to be posted soon.
These kinds of discussions are also starting to emerge within the DAO, as shown by this highly valuable thread from delegate Ignas, which opens the debate on the possibility of introducing a VLR Token Buyback Program.
Likewise, @avantgarde, as mentioned in this post, is currently exploring and temp-checking a buyback strategy for Velora, as well as drafting proposals and holding stakeholder calls for the deployment of VLR liquidity. We look forward to seeing these ideas materialize soon!
Building on this momentum, with this program, we want the DAO to generate more initiatives of this kind, and we believe that these efforts should not be concentrated solely within the VGC, the Treasury Manager, or isolated delegatesā initiatives. We believe that these debates must be strategic for the DAO. We are confident that other delegates and community members have valuable contributions to make, and we want to activate and empower them to bring forward their ideas.
Specifications
At this stage, the ideas to be submitted should not yet follow the formal PIP Proposal format, as this is an initial phase focused on generating high-level ideas to be discussed and reviewed by the DAO. However, overly basic, vague, or generic ideas are not desired and will not be considered. Submissions should demonstrate a sufficient level of detail, analysis, and seriousness, providing them with the potential to evolve into formal proposals.
The goal of this phase is to gather solid, realistic, feasible, and well-founded ideas that can eventually become concrete proposals. This will allow the VGC, the GTF, the Velora Treasury Manager (VTM), as well as all delegates and community members, to further develop, refine, and (if needed) co-design the ideas collaboratively.
Additionally, authors are encouraged to consider (even at a preliminary level) the practical feasibility of implementing their ideas. This includes reflecting on aspects such as VLR and other token amounts involved, whether any technical development would be required and of what kind, estimated budget, potential creation of a safe multisig and its setup, and other elements that help to outline how the proposal could realistically be implemented.
As previously stated, submitted ideas should include a view of how they could be developed and implemented. However, it is important to note that Laita is a Service Provider operating within the scope of the agreement approved by the DAO, and therefore, it should not be assumed that Laita will carry out the technical development of each proposal. Accordingly, each author should evaluate and outline how their idea could be implemented, considering potential implementation paths, required resources, and possible parties involved in its execution.
Scope
The main goal of the ideas to be submitted is to foster the growth and adoption of the VLR token.
As examples, some potential directions could include:
- Extending token utility, new use cases and/or adoption strategies.
- Increasing VLR trading volume and/or TVL.
- Implementing buyback and/or burn mechanisms. For instance, structured ideas like the one promoted by delegate Ignas in the āVLR Token Buyback Programā thread, or those that explore related aspects, such as what incentive or liquidity programs, and/or stakers distribution, and/or treasury uses cases, could be designed to make use of potential buyback funds.
- Creation or improvement of incentives or liquidity programs that add value and usability.
These are merely suggested starting points; participants are encouraged to explore any other initiatives that could meaningfully contribute to the growth of the VLR token.
Deadline
Delegates interested in participating have until Monday, November 10, at 11:59 pm UTC to submit their initiatives.
Submission
Delegates and community members must submit their ideas by creating a new independent thread in the Research and Discussion section of the forum. This will allow other delegates and community members to provide feedback, share perspectives, and discuss each submission.
Individual or Joint Submissions
Ideas can be submitted either individually by a delegate or community member or jointly by multiple individuals or organizations.
We encourage and support collaborative work, as it enhances and complements each participantās skills while fostering the exchange of ideas and perspectives prior to the final submission.
Role of the GTF
We will oversee the program and remain available to assist all delegates and community members, both before and after submitting their ideas. We may provide feedback, share relevant information or data, connect participants with other stakeholders, or offer any other type of support needed to help ideas mature and move forward.
Template:
- Thread Title (Use the following format): āDAPG - [your forum user]ā
- Identifying title of the idea:
- DAO-recognized name:
- Individual or Organization?:
- Twitter handle:
- Details of the idea:
- How will this idea help VLR growth:
- Mapped KPIs or expected impact:
- Preliminary feasibility assessment:
- How will the idea be implemented?
- VLR and other token amounts eventually involved:
- Does it require any technical development or additional resources? (Yes/No - What kind?):
- Are there any associated costs or budgets? (Yes/No - Which ones?)
- Who should be involved in the implementation?:
Incentives
This program is designed and framed within the scope of the new Velora Contributors Program (VCP) and its Contributor Points (CP) incentive framework, particularly under the āResearchā and āGovernance Impactā categories. Within this framework, delegatesā contributions will be evaluated and rewarded accordingly.
Therefore:
- Delegates who submit concrete, serious, and feasible ideas with the potential to evolve into formal proposals aimed at VLR growth will receive Contributor Points during the month of submission.
- Delegates who provide strategic and valuable feedback that has a tangible impact on improving another delegateās or community memberās idea will also receive Contributor Points, though in a smaller amount than the author of the idea.
- Delegates whose ideas evolve and materialize into formal proposals will receive additional Contributor Points at the time of proposal submission . Moreover, if these proposals are later approved and implemented by the DAO, their proposers will also receive extra Contributor Points. The points earned from ideas materialized and from approved/implemented proposals will be cumulative with those earned upon submitting the initial idea.
With this incentive structure, we aim to encourage delegatesā commitment to the program, and particularly towards VLR growth. In this way, those who make concrete and high-quality contributions will receive appropriate, tiered compensation as their ideas progress from the initial stage to fully developed proposals.
If ideas are submitted by non-delegate community members, the DAO may grant retroactive compensation to recognize their effort and contribution, provided that those ideas evolve into formal proposals that are later approved by the DAO.
Process and Important dates:
- Submissions: From now until Monday, November 10, at 11:59 pm UTC. Until that deadline, ideas that have been previously posted may be edited and modified as necessary to create the final version.
- Feedback and Discussion Period: After the submission deadline, with no fixed end date. During this stage, other delegates, the VGC members, the GTF, Laita, and the community can identify ideas with potential to become formal proposals, make questions to clarify concepts or better understand the idea presented, and provide feedback to improve or complement each submission.
- Merge: During the feedback period, if there are ideas on the same topic or with similar characteristics, they may be merged, with the original authors becoming co-authors of the final idea. Robustness and feasibility will be considered individually at the time of the potential merging in order to ensure high quality proposals.
- Proposal Drafting: If, as a result of discussion, feedback, and improvements suggestions, the community identifies, with a relatively significant consensus, concrete ideas with real implementation potential, the process will move to the drafting stage of the complete final proposal, meeting all requirements for debate and voting. The GTF, the VGC, and others delegates may collaborate with the authors or provide feedback for the final draft to be submitted on the forum as a formal proposal.
Good luck to all! We look forward to seeing your ideas!