Bifrost aims to be a next-generation DeFi Appchain that focuses on achieving profitability, incentives, expansion, and increased profitability. The Bifrost Tokenomics 2.0 proposal has been released (https://bifrost.subsquare.io/posts/77). The proposal suggests that 100% of the protocol's profit, after deducting operating costs, will be used to buy back BNC (bbBNC). The community is currently discussing the proposal as it moves into the development phase. The launch is expected in the fourth quarter of 2024.
Based on the current token price, Bifrost's annual protocol revenue is approximately $1,511,323, with operating costs budgeted at around $1,076,273 per year. This results in an annual protocol profit of $435,050. With the growth of TVL and the market's upward trend, Bifrost's protocol revenue and profit are also expected to increase. This proposal marks the first Bifrost operating cost proposal.
Continue to deliver and implement Bifrost's future roadmap. This involves solidifying Bifrost's position as the largest liquidity protocol in the Polkadot, Kusama, Astar, Moonbeam, and Manta ecosystems. Additionally, we aim to expand Bifrost SLPx into more L1 & L2 ecosystems and increase the application scenarios of Bifrost TVL and vToken.
| Monthly Budget | 6 Months Budget | Usage | |
|---|---|---|---|
| Salary | $64,010.92 | $384,065.52 | Coder, Product, Operation, Marketing, BD, Strategy, and Financial team Salary |
| Server Operation and Maintenance | $8,956.86 | $53,741.16 | RPC, Collator, API, Test, Server, Third-party Services |
| Team Collaboration Tools | $934.03 | $5,604.18 | Workspace, Communication, Task Management, Document |
| Community Operation | $5,119.21 | $30,715.26 | Ambassadors, Podcast, AMA, Twitter Space |
| Talent Incentive | $10,668.49 | $64,010.94 | Quarterly / Annual rewards, KPI rewards |
| Total | $89,689.51 | $538,137.06 |
Total budget (6 Months): $538,137.06
Requested：
Beneficiary:
Regarding the "talent incentive" mentioned in the proposal, I would like to know specifically which aspects of talent it refers to, and what contributions led to these incentives. I'm interested in understanding this better.
Additionally, concerning the ambassador rewards, I recall that in early April, the Bifrost team adjusted a detailed reward system based on feedback, which included tiered rewards for ambassadors and rewards lasting for half a year. However, for some unknown reason, it was later taken down and not actually implemented.
In fact, I believe that tiered rewards for ambassadors, as well as rewards lasting for half a year (or quarterly), are both very reasonable and necessary, and worth implementing. At the very least, it can stimulate ambassadors' desire and motivation to create content, and enhance their continuity and stickiness to the Bifrost project, which is a win-win situation for both ambassadors and Bifrost.
I hope this appeal can draw the team's attention. At the same time, I hope that a new ambassador reward system can be introduced as soon as possible, because in my view, the prerequisite for "building a nest to attract phoenixes" is definitely having a good reward system.