[DIP - Cycle 1 - March 2025] ParaSwap/Velora Delegate Incentives Program - March 2025 Results

[SEEDGov]

March 2025 Participants

For the March 2025 iteration of the program, there are 9 participating delegates. You can see the first application results here.

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Parameters Breakdown

The specifications, parameters, formulas and calculation method can be found here.

Participation Rate

During the last 90 days, 5 proposals have been submitted to vote with a closing date until 31st March 2025:

1- PIP-57 - PIP Lifecycle Improvements

2.- [GRANT REQUEST] OAK Research Grant Proposal

3.- PEP-08: Upgrade Module End-of-Life Strategy

4.- PIP-58 - ParaSwap Delegate Incentives Program - Cycle 1

5.- PIP-59: Proposal for Returning 40.203 wETH to Bybit (After 10% Bounty Deduction)

It is important to note that only those proposals that ended between 01 January and 31 March were counted.

Snapshot Voting

From these 5 proposals, 2 of them were closed in the course of March:

4.- PIP-58 - ParaSwap Delegate Incentives Program - Cycle 1

5.- PIP-59: Proposal for Returning 40.203 wETH to Bybit (After 10% Bounty Deduction)

It is important to note that only those proposals that ended beetween 01 al 31 March were counted.

Communicating Rationale

Vote justification for the above-mentioned month’s proposals.

It is important to note that only rationales posted in each Delegate Threads within seven days after the end of each vote this month were counted.

Delegates’ Feedback

We have analysed each delegate’s activity and participation performance, not only in the forum, but also in the delegates’ telegram group, as well as contributions to the PGWG, all based on the specified parameters, which are evaluated, detailed and reported in the corresponding spreadsheet.

March results

You can see the dashboard with the results and the detail of each parameter according to the activity of each delegate in this public spreadsheet: DIP - March 2025 - Dashboard

Of all 9 delegates participating in this first DIP stage, 8 were eligible to receive compensation.

• Tier 1: 4 delegates (44.44%)
• Tier 2: 4 delegates (44.44%)
• Tier 3: O delegates (0.00%)
• Out of tiers: 1 delegate (11.11%)

The price of the PSP token at the time of publishing this post, according to CoinGeko, is $0.0172

Price set on April 4 approximately 5:45 pm UTC

Delegate	TIER	P USD	P PSP
Citizen42	1	2,500.00	145,349
PGov	2	2,000.00	116,279
Jameskbh	1	2,500.00	145,349
Ignas	1	2,500.00	145,349
Mehdi	1	2,500.00	145,349
Boardroom	2	2,000.00	116,279
Arana Digital	2	2,000.00	116,279
Avantgarde	2	2,000.00	116,279
Curia	-	0.00	0

The total cost destined for the DIP this month will be $18,000 equivalent to 1.046,512 PSP.

The total cost accumulated destined for the DIP since the start of the Cycle 1 in March 2025 is $18,000, for a total accumulated so far of 1.046,512 PSP.

Payments

According to the provisions, compensation are denominated in USD and will be made in PSP tokens - or in the future new token it may eventually migrate to in accordance with Project Miro - on a monthly basis but with a 30-day vesting.

Based on this, payments will be executed to each eligible delegation wallet within the first five days of May.

We suggest and encourage delegates to put the amount of compensation to receive into sePSP2 staking, which will benefit the protocol and the price of the token, as well as benefiting the delegate by receiving rewards in ETH and increasing their voting power.

Reminder

Delegates who do not participate from March will have the opportunity to apply for the program in the application thread we will open at the beginning of month 4 - June 2025 - and will remain open until the end of the program, allowing delegates to apply at any time as long as they meet the eligibility requirements.

We track the participation of all delegates presented in the forum and publish the data in the DIP spreadsheet so that each non-participating delegate can monitor their participation metrics.

So keep participating and stay engaged!

Program Refinement

In this first month of the DIP, we have identified some inconsistencies that we aim to address in order to refine it. We are currently evaluating potential improvements. Our goal is to refine the program to better fulfill its primary objective: incentivising high-quality participation and ensuring that delegates are fairly compensated based on the quality of their contributions.

Accordingly, we will make use of the faculties and responsibilities that have been granted to us in our role as Program Manager:

@SEEDGov

The percentages and calculation method for the Activity Weight and for the Tiers set in the following proposal, as well as the inclusion of a new parameter or tier, will be subject to modifications, adjustment and improvements by the DAO and/or Program Manager based on experience as the program progresses. The goal of this is to adjust the parameters of the program to reach the optimal level of professionalisation and engagement of the participants, to raise the quality standards to the desired minimum, and to incentivize delegates to engage in more and higher quality activities.

@SEEDGov

Responsibilities

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7.- Analyze the progress of the program and if necessary implement modifications, adjustment and improvements.

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We will post an update in this thread once the transfers have been made.

Thanks!

[Mehdi]

I’d also like to propose counting delegate ParaSwap promotions on social media as part of their contributions, similar to how @Ignas’s tweet drew significant attention to the DAO.

@SEEDGov

Evaluation System for Delegates’ Feedback

The Program Manager would be responsible for evaluating the feedback provided by delegates, which goes beyond just feedback on proposals or topics, but includes participation in the forum and other forms of participation. The goal of this system is to:

• Incentivize quality over quantity of feedback.
• Extend the analysis across all contributions made by a delegate in the forum (instead of only considering those that reach).
• Avoid unnecessary or spam comments made solely to achieve a higher score.
• Allow delegates to focus on contributing to proposals or discussions related to their areas of expertise.
• Incentivize other forms of participation, such as participating more than as a listener in the Community Calls that may be held, participating in a Working Group, participating in Telegram groups or other means of communication, making contributions or becoming actively involved in a particular debate, making a technical contribution, etc.

[SEEDGov]

What you’re suggesting is interesting, but we see two main issues:

• First, the DIP is designed to assess and value a delegate’s governance activity — that is, their participation in governance-specific actions. While promotional efforts on Twitter are helpful and appreciated, they don’t directly reflect governance participation.
• Second, from an operational point of view, it’s quite complex to continuously monitor all delegates’ Twitter accounts to identify posts related to ParaSwap/Velora. This becomes even more challenging when some delegates use their accounts for personal or unrelated content, making it hard to determine which posts are about the protocol or the DAO. This is not the case in governance spaces like the forum, where the delegate’s activity is clearly focused on their governance role.

That said, we’re not dismissing the idea and will explore ways it could potentially be implemented.

[Mehdi]

After speaking with @SEEDGov, I am requesting to receive the DIP at the following address for purposes of transparency and accountability.

The mentioned address is also used to receive $ARB DIP.

In summary:

• Delegation address: 0x5F367BF126FDa56D88BA88a8978D5496c66B3569

• Receiver of DIP address: 0x6824Ed2542C728309B83CC450ACe1C7857968244

I also Edit My Delegation Thread with the Information above.

[Mehdi]

1. I would argue that the promotion was effective and increased governance participation, although the topic itself was subjective, debatable, and covered by multiple media outlets.

2. You don’t need to monitor delegates’ activities outside of this platform. Delegates can share proof of their other contributions in their delegation thread. As the DIP manager, you can assess their promotion efforts and ratify them based on the quality of content, engagement, and effectiveness in boosting governance participation.

Anyway, that’s my opinion. Of course, you have more experience with this, and the idea can be explored further and finalized in the next version of the DIP.

[AranaDigital]

For the sake of transparency, we are disclosing that our voting wallet will be different from our receiving wallet for the DIP.

Voting wallet: 0x0579A616689f7ed748dC07692A3F150D44b0CA09

DIP Wallet: 0xBC39648030c8169b4281FD522506C2bC768160cB

—Arana team

[Avantgarde]

Likewise, Avantgarde also operates a different wallet for the DIP and similar payments from elsewhere. Sharing here for transparency:

DIP address: 0x29f387aDe2a5AE3C93DEFd52f2a5fA535CAb666e
Gov address: 0xb49f8b8613be240213c1827e2e576044ffec7948