Grants, Bounties and Matchings

When Unlock Inc. created the UDT tokens, we premined a total of 1,000,000 tokens. These tokens are kept in Unlock's multisig wallet and our goal is to use 800,000 them to foster adoption of the protocol (the company will keep at least 200,000).

By November 1st 2021, we want to have distributed at least 100,000 tokens. By May 1st 2022, we want to have distrubuted another 200,000 tokens, totalling at least 300,000 tokens.

For this, we are considering 3 mechanisms: grants, bounties and matchings.

Grants

In order to increase adoption of the protocol, we believe it is critical for the ecosystem to build Unlock integration in various projects and products. In order to incentivize adoption, Unlock Inc. will grant some tokens to interesting projects.

These integrations can be in open source libraries or products (see our Wordpress or Drupal integrations), or even in private installations, provided that they have a large user base and could create a large adoption of the protocol.

For these, Unlock Inc. will publicly assign grants assigned to the teams in charge of building these integrations. The amount in the grants will generally be agreed to in DAI amount, but payed in tokens (using the DAI value at the time of shipping/payment).

Grant Application

Additionally, these grants will all be subject to vesting using smart contracts such as Trustswap's

Past grants:

On-going grants or RFP:

  • Discourse integration

  • Telegram bot

  • CollabLand integration

  • Shopify app

  • Wordpress plugin improved

  • Twitch/Youtube/Vimeo thru StreamLabs

We will publish Requests for Proposals where we describe what we expect some specific integrations to be, as well as assess any proposal coming from the community.

Bounties

In some cases, people will perform single actions for the protocol which will have an outside impact on its adoption. It can be through submitting code fixes, new features, documentation, reporting bugs or even helping evangelizing the protocol. These people will be rewarded in the form of bounties. There again, we denominate these bounties in DAI amounts and pay them in UDT. There again, we will require vesting.

Matching

As the protocol is gaining adoption, we want to offer disproportionate rewards to early adopters. The protocol itself has a minting curve which is logarithmic, which means early rewards will be larger than late rewards. However, we also want to allocate a non-trivial part of our treasury to "matchings". Our goal is to link rewards to performances. These matchings are limited in volume and time (first of any limit reached).