[Ideas] Rep - Redeemable Token Rewards

JacobHomanics

USDC

Smart contract that users interact with to redeem tokens in return for USDC.

Membership NFTs

Redeem tokens for discount on Secondary Sales.

ATX DAO Nouns

Redeem tokens for discount on Primary and Secondary Sales.

Merchandise/Swag

Redeem tokens for Merchandise (i.e. shirts, jackets, beanies) or Swag (i.e. stickers, pens, car decals).

A Car

Redeem tokens (a nearly unachievable amount!) in return for a car! The car may be a dogecoin lambo.

Tickets

Redeem tokens for tickets.
Permissionless
Consensys
SXSW

Social Media Promotion

Redeem tokens to have a tweet, instagram post, discord announcement of a message that you would like to be promoted. May be subject to rejection after DAO moderation.

Discord

Redeem tokens to earn a special role.
Redeem tokens to gain access to a special channel.

Events

Redeem tokens for alcohol.

SPOTLIGHT

Redeem tokens to waive fees.

JOB BOARD

Redeem tokens to waive fees.

Please add any additional ideas that you can think of!
The main one that I would like to focus on is the USDC Reward as that is pretty simple and can add immediate value to Rep Tokens!

realitycrafter

Kinda on the fence about the USDC reward because it adds an exchange rate for the REP tokens. I guess if we treat it like a credit card points system, trading in for cash works alright?

Under this model, would we replace giving circles entirely with REP and then let folks decide if they wanted to trade it in for the USDC?

JacobHomanics

realitycrafter It behaves similar to a point system. It still isn't an "open market" cryptocurrency that anyone can buy/sell. Once you redeem the tokens for cash, then the tokens are effectively burned and never added back into circulation. Hence, they act more as reward points.

There can be room for both the Giving Circle and Redeeming REP for USDC. Giving Circles are based entirely on your contributions to the DAO and has a focus on decentralized governance, which I think is a pretty important thing to "flex". REP Tokens don't necessarily correlate to contributions. You can get REP for attending events, snapshot voting, quest rewards, etc. I imagine the USDC reward can be either sought after solely for the reward (promoting heavy involvement with the DAO), or as a simple "Ooh I've casually gathered 2k tokens over 5 months. I can trade that in for a reward!".

Thoughts?

JacobHomanics

Starting to see the issues with having a USDC reward since it basically turns it into a security, with regards to an open market or not. What happens if a random third party chooses to implement this strategy? Are we on the hook for it or whoever implemented the strategy?

What happens to the rest of the rewards? Are they fair game? I'm sure you can associate some sort of monetary value to them.