ICYMI
@initia might be one of the only few chains that facilities FOCG thanks to its VIP program.
VIP program, in very simple term is how initia incentive it's devs and users.
As I pointed out it's pretty alike what I designed for my client. It got 2 proportions.
a) B Pool. More
$INIT staked on interwoven rollups, more rewards, simple. But the excluded the node stakings (Huge).
b) W Pool . On an L1 governance set ratio, its gonna incentivize all interwoven rollups, separately.
But why W Pool really matters? Operator Rewards and VIP Score.
Operator rewards are simply a commission taken from the Minitias total epoch rewards. Operator’s may set a commission rate, similar to how validators set a commission rate on staking rewards.
- fund themselves
- give to users
- stake back to L1 for more voting power
User Rewards are based on VIP scores.
This VIP Score is calculated based on one or many ONCAHIN KPIs a interwoven rollup wishes to incentivize.
This is what FOCG wanted for years! It's the ultimate way of Numerical planning! I can calculate how many drones the player built and destroyed, for the every first time in the history everything can be meaningful rather than an ultimate goal for example the center of the universe.
And the
$LUNA tic ponzi scheme goes on, the user's reward esINIT can be unlocked in 2 ways:
- Maintaining your VIP Score over multiple epochs;
- Zapping into a Locked Staked Enshrined Liquidity Position.
Which means crazy retention rate. Everything is divided by 26 biweekly epoch. This is crazy! VIP creates a virtuous cycle of momentum: incentivization → increased usage → increased incentivization….
Finally, just like the voting protocol I designed based on
@PrivacyScaling and
@zkMACI , @CabalVIP, a protocol that actually 'means nothing', raised 3m
@hack_vc @Delphi_Ventures @nascentxyz @dcfgod @LayerZero_Core @daryllautk @darrenlautf @n2ckchong @chainyoda
@CabalVIP, like its name, actually has only one function. That is to concentrate liquity and get airdrops. In my understanding, it is the most basic vote-buying protocol machine gun pool, which automatically calculates how to bribe voters to achieve greater benefits, but it is definitely not a way to maximize benefits.
This gives
@initia a benchmark for allocating resources other than money. All projects that can not out perform @CabalVIP can go to mom's basement, pivot to potato farmer, or find a way to adjust the VIP Score algorithm (Goddamn operater took too much!)
Gwoven🪢 The cabal is watching.