In Boosting “Contribution Crops”, I propose defining a new set of time-based nodes in the Cred Graph which would be good targets for Boosting. In this post, I’d like to propose some initial parameter choices / rules around Boosting, suitable for an initial (beta) implementation.
Let’s suppose that initially only Crop nodes are eligible for Boosting. Each Crop node has associated “Boost Shares”, each of which confer an equal proportion of Cred from the Crop node. Basically, some fraction of the Crop node’s Cred will be split across the Boost Shares, as follows:
Suppose a Crop node has
t total Cred. There is a Boost Coefficient
bc, I propose
bc = 0.2. Then
t * bc Cred will flow to the Boost shares in aggregate. If there are
k shares, then the holder of any individual share receives
t * bc / k Cred.
We will want the Grain cost of shares to be superlinear in the number of shares issued for a given Crop; this rewards early Boosters who commit Grain to boosting a given Crop. I propose that we use a quadratic function, I’m open to others but I suspect it will have nice properties. Then if there are
s shares in existence, the cost of the next marginal share is
Boosting Mints Cred. I’d like the amount of minted Cred to be equal to the total amount of Grain burned, so the Mint amount for a given Crop is equal to
s*s. This excess Cred will be split proportionally based on the Seed Vector for a given week. The net result is that minting on the Crop node will “amplify” the Cred of every contribution from that week.
We’ll need a strategy for auctioning off the initial set of crop nodes, that allows people with Grain balances to participate fairly, without a “rush” where whoever is allowed to Boost first gets a huge benefit. I’m thinking at a UX level, we’ll make it easy to boost at the level of individual Crops, or groups of Crops (call them “Seasons”). E.g. you can Boost the “Season” of 2019, and that evenly splits your Boost across 52 Crops in 2019. That way people without strong opinions at the week level can participate in a way that sets a consistent “boost price floor” across all the Crops in a year. Once that initial price floor discover has happened, we can have a sort of “initial crop offering” where everyone can commit Grain to Boost individual Crops, e.g. the week of SourceCred’s founding, the week of CredCon, etc. Everyone who participates will get the same price level within each Crop.
After that, we could switch to a first-come-first-boost model, once the rush of initial Boosts is resolved.