[ Discussion Panel ] Making 1inch Tokens ULTRA - USEFUL!

Thinking to Run a Community Poll Before Stage - 2 to sort the Best One out of these

2 Likes

But this Needs to Be done ASAP . We need more Suggestion from 1inch Users !

At the Moment I don’t even know if it’s even worth doing Stage - 2 at this moment as Discussion Participation is Still very Low .

3 Likes

▄█░ ▄▀▀▄ ░
░█░ ▄▀▀▄
▄█▄ ▀▄▄▀ ▄

JUMP

3 Likes

I think we need first Stage-2 proposal
because we don’t know what we can do
trust 1inch community,only do it.
I like No.4 No.5 No.6 No.7
others are good,but difficulty for now!

4 Likes

Ok, I like those all

3 Likes

I’m thinking to join 6 & 7th Points together

& Bumping an Old Post to add some points from them .

2 Likes

Only do it on LOP and make LOP big

2 Likes

[1IP-1] Proposal : 1inch Trading Incentives - Discount , Swap Fee & Slippage Subsidies

Stage 2 Initiated Including -

  1. Rewarding Stakers of 1inch for Prolong Staking :trophy:
  2. Trading Incentives - Cashbacks , Gas Fee & Slippage Subsidies :mahjong:
3 Likes

Currently I’m Thinking about a Second Proposal about Pools & Staking System & Also a Community engagement rewards system … :hugs:

Founders Said it’s difficult to verify the user that will be rewarded . So , I’m trying a Way to make it happen . Trying some logics & will share it soon here once i get it done & finished for further on to Stage - 2

I’d be much more in favor of a system that incentivizes knowledgeable Uniswap community members to participate

Something like tip.cc could be used to tip community members who consistently go above & beyond to help out people who are asking questions

There needs to be a careful consideration before implementing a reward system like this because of varying amounts of effort required


Ideas -

Quantstamp (QSP): To incentivize community engagement, contributions, and new user acquisition, Quantstamp utilized their “Proof of Care” campaign. Quantstamp quantified users’ engagement based on an equation tracking “active project contribution + community involvement + wallet tracking algorithm + history of support.” Users received “POC” scores based on their engagement, and were rewarded tokens proportional to score.

6 Likes

I’m proud of you! thanks

2 Likes

The 1st Feature in the Post Still have Flaws where a user can exploit by using multi addresses so we need a Sybil resistant system ( 1 person one vote even if he hold multiple eth addresses )

2 Likes

Main Argument Against this Approach was that user will have to face a large gas fee for such Txn to commence .

  • I think people care more about easy things & Hassle - Free Functions rather than gas fee which is evident why people Use to trade on UNISWAP even when 1inch provide them the cheapest rates thro their DEX .

So , Keeping ‘Fee’ as the main component against the Feature might not be good idea When it provides a quick solution to a mainstream problem . Also on Side Chains like Polygon & L2 Layers i think this feature can actually become more convenient for DEFI users .

2 Likes

but why need Coin Conversion? 1inch become a index? or fund?

1 Like

Let’s say you received 5 1inch Tokens from 1inch governance rewards after claiming .

Now , I don’t want 1inch tokens instead i want instant convertibility of my 5 1inch Tokens directly to my favorite tokens .

Like BNB & AAVE

So Instead of doing Total 3 - 4 Txns : Approving + Confirming each time

i.e.
Approve 1inch - Swap 1inch to AAVE or even send this eth to another ETH address
Approve 1inch - Swap 1inch to BNB

The IMC will do it All this with 1 click . This make stuff easy & saves time & that’s the sole purpose . Ofcourse , I used 2 tokens as an example to show but you can actually convert 1inch into 2 - 5 - even more tokens at once with few clicks rather than wasting 10 minutes on it . That’s the idea behind its implementation

3 Likes

█▀█
─▄▀
█▄▄ █

Feature’s Live on a DEFI project ! Pretty Similar to Binance Dust Conversion to BNB

JUMP

3 Likes

In my opinion, first of all, we need to improve the function of 1inch.

2 Likes

Hey, if ideas on this forum are implemented, is the person who came up with the idea compensated in any way?

Should I create a separate topic for this idea? And create the post in a proposal format?

We are a community. If necessary, we can propose to give token reward to the proposer of the bill.

1 Like

▄█─ ▄▀▀▄ ─
─█─ ▀▄▄█
▄█▄ ─▄▄▀ ▄

Yes You Guys are Right . That’s the 1st thing I actually wanted to do .

I think Before Opening a New Proposal on Snapshot , There are few more things that have to be taken care of first . Like

  • Adding Live Feed of Active Snapshots which will include : Total Votes + Days Left

  • Adding Live Feed Directly to 1inch DEX & iOS App

  • Adding [ Stage - 3 ] Proposal Voting Stats on 1inch DEX UI/UX

  • Adding some sort of XP/Trust Level System for Specific Addresses that hold 1inch & Vote in Maximum Snapshot Proposals

  • [Optional] Random 1inch Rewards after a Snapshot Ends i.e.

  1. 2 Random Top 10 Voting Address will get >=20 1inch Tokens as reward
  2. 4 Random Snapshot Address will get 4 1inch Token each (Excluding Top 10)

These are just few things that can actually increase the user participation in Governance + will also increase the fair 1inch distribution

JUMP

1 Like