Official Mineral Grade Integration

Summary

Sayve Protocol and PylonBoard are proposing to officially adopt and integrate the Mineral Grade system into Pylon Protocol. Such a loyalty-scoring system would benefit the protocol by providing a clear, measurable, and consistent standard to value and incentivize long-term staking behaviours. This in turn will attract more investors and projects to be actively engaged on the Pylon platform, resulting in a virtuous cycle for the ecosystem.

Background

The development of Mineral Grade has been solely a community coalition effort. It was sponsored by Sayve Protocol, designed and developed together with PylonBoard™. Essentially it’s a scoring system that uses time-series data and quadratic functions to determine the value of loyalty, or long-term staking behaviour. The system made its debut through Sayve’s Prefund for the purpose of a fair distribution of the IDO allocation for Pylon stakers. The Pylon and Terra Luna community have received this system with a warm welcome and generally considered this highly-coveted loyalty mechanism a long due milestone.

We have also witnessed a fast-growing number of inquiries for individual Mineral Grade information, therefore this propels both PylonBoard and Sayve Protocol to take the initiative to make Mineral Grade the official system for the Pylon protocol.

Benefits

Pylon Protocol

  • Great feature to attract investors, strengthening $MINE’s tokenomics.
  • Instilling a meaningful purpose and practical value for staking behaviour.
  • Enabling gamification opportunities for Pylon protocol and its portfolio projects in designing future products
  • Demonstrating the impact of community initiatives, making Pylon an exemplary DAO within this young Terra Ecosystem.
  • Empowerment & entitlement: community members are incentivized to take part in building and expanding the Pylon ecosystem further.

Pylon Community

  • Fair reward system: stakers get properly rewarded for their respective financial investment and community involvement
  • Empowerment & entitlement: community members are further incentivized to take part in building and expanding the Pylon ecosystem.
  • Fulfillment of emotional needs: stakers can achieve better mental health e.g., happiness and satisfaction

Current status of Mineral Grade:

Currently it is a manually triggered operation to compute the scores off-chain with post processing in Jupyter Notebooks. Also it is tailored for Sayve’s IDO with parameters selected by them.

However the core logic and thought process for how the scoring system works is in place, and is thus ready for final parameterization and implementation to be calculated off-chain and then updated into an on-chain contract for easy querying.

Scoring Parameters Standardization

Existing parameters:

  • Must have been staking for a total of 1.5 months in total, since staking genesis
  • NOT required to currently be staking MINE
  • The lower 60 percentile based off the quadratic score was removed as being ineligible for a tier
  • The remaining 40 percentile was tiered

Future parameters:

  • Must be an active staker, being active meaning holding 50 MINE or more (2.5 UST worth currently)
  • No staking time cap as the score will take care of this (see the documentation linked below)
  • Lower 50% will be “unranked” (tier 0) based off score
  • Remaining 50% will be ranked / tiered and really start earning benefits
  • Define scoring boost for active participation in on-chain votes

Please note that current parameters are set based on Sayve Protocol’s requirements for their respective Prefund IDO. This still effectively eliminated a good amount of zombie wallets and untrue stakers.

All parameter adjustments can be achieved via governance proposal, further enhancing the power of staking.

Requirement:

Grant amount: 58,600 UST or $Mine equivalent . This number is based on two key arguments:

  1. The fact that Mineral Grade will play a critical role for the expansion of the Pylon platform and strengthen $Mine tokenomics; and
  2. Kujira, formerly known as Harpoon, was able to receive 20.8k $ANC (~120k ust) from Anchor community fund for building a GUI to enable community liquidation

The full implementation / integration of the Mineral Grade will be a multi-step process with 3 deliverables.

The first 2 deliverables will be deployed on Pylonboard, which is already Open Source under the MIT license.

The final deliverable is integration into the core Pylon UI which we are happy to do, if possible, otherwise that will be up to the Pylon team.

Automation of computations

First the computations will be automated and added to Pylonboard. They will be computed at least once daily and scores will be visible by using the existing wallet connect feature.

Scores are queryable using the existing GraphQL api on Pylonboard.

Smart contract for on-chain queriability

Second phase is creating a smart contract which can receive the scores daily so they are queryable on-chain, Pylonboard UI will be updated to query this rather than the backend.

Integration into Pylon core UI

The Mineral Grade should be integrated with Pylon’s core UI, either using the GraphQL endpoints or the smart contract

Cost breakdown

Phase 1

Category Estimated hours Cost (UST / MINE equiv.)
Research & prototype 60 Sponsored by Sayve
UI Prototyping + implementation 100 10,000 UST
Handling of votes and score boosting 24 2,400 UST
“Calculation of scores”-engine 80 8,000 UST
Migrating baseline-score to production 10 1,000 UST
Updating documentation 24 2,400 UST
QA / Bug-fixing 32 3,200 UST
Buffers / misc 32 3,200 UST
TOTAL 30,200 UST

Phase 2

Category Estimated hours Cost (UST / MINE equiv.)
Smart-contract development 160 16,000 UST
Update scores in contract 24 2,400 UST
Updating documentation 24 2,400 UST
QA / Bug-fixing 32 3,200 UST
Deployments testnet/mainnet 24 2,400 UST
1-year gas-fee cost* N/A 2,000 UST
TOTAL 28,400 UST

Phase 3

Cannot currently be estimated as we do not know Pylon’s codebase nor whether Pylon wishes to add this on their own time.

Mineral Grade Documentation:

Documentation on how exactly the scores are calculated and weighed, please refer to:

Remark:

Although Sayve Protocol and Pylon Board are jointly proposing the Mineral Grade, the requested grant herein is strictly for Pylon Board only. Sayve Protocol is merely showing our support for a fellow community member and advocating the betterment of the Pylon platform.

Voting Specification:

For: Integrate the Mineral Grade as the official Pylon loyalty scoring system with “future parameters” laid out above

Against: Do not integrate the Mineral Grade.

5 Likes

If this proposal were to be implemented, and it seems reasonable, would it make locked staking redundant since most of the arguments for locking staking were about preventing gaming IDOs etc? It could instead be used to incentivise stakers based on mineral grade, a healthier approach than punitive measures

1 Like

wonderful idea.
I hope the mineral grade is also very visual,

For example to have 5 ranges of grade, and call them an appealing name ? (Diamond/Zephyr/Ruby/Emerald/Topaz/ …)

Or use the Mohs scale grade? E.g our $MINE start by being TALC but we can progress up to DIAMOND level.

image

4 Likes

What a great idea to include the Mohs scale :rocket:

2 Likes

An argument could for sure be made for that. However it is also in place for gaming the buyback distribution.
One could then argue that buyback should be distributed according to Mineral Grade :face_with_monocle: but I belive that would be a new gov proposal after this, if the vote is yes.

2 Likes

ooh I like the Mohs scale

the more fun factors we have the better

Gemstones ranked <4 will sell low easily

2 Likes

I will support the proposal and vote YES, this will add a ranking tiers for projects to distribute their IDOs, will rather give control to the project over the % and not to be changed by a community vote each time. the tiers and paramaters can be decides via the forums discussions, in a same way the other launching parameters are decided.
also the Mohs scale will ad some fun concept to it! worth thinking of ways to prevent gamification.

4 Likes

I like the idea.
As a delivery time what can we expect?

I would recommend to formulate parameters in a generic way and not only with an example ( anyway perfect to understand the context )
E.g. total time staking, isCurrentlyStaking …

1 Like

Very pleased with the Mineral Grade swaps - I don’t think this could have been a fairer IDO, I love the quadratic approach to encourage decentralisation (although yes, it could be played, but if some IDOs were to have KYC requirements or have a way to identify ‘single’ wallets, this could be mitigated) and love even more the time staked to reward long term holders (which mitigates slightly the above somewhat).

As I said before, I don’t think we should get rid of the ‘Swaps’ on Pylon, and this is doing an outstanding job.

Congratulations on the launch, you have my vote for the integration, my money for the support and I wish you all the best, keep up the excellent work!

3 Likes

Despite the misleading title and description this seems simply to be a grant of a further 58,600 UST to the author of Pylon board. Is that correct? That would bring his total grant to 88,600 UST.

  • The maximum payable grant under the T&C posted by @limowooj is 30,000 UST. Why is this application for 58,600 UST being allowed to contravene the T&C?

  • Why is the community being asked to fund development to support Sayve Protocol? Should it not fund its own development?

  • Is this intended to set a precedent whereby Pylon projects can apply for grants of unlimited funds to develop their project?