Team, Investor, and Advisor Incentives: Fairness within Goblins

Team, Investor and Advisor Incentives Podcast

Fairness and Incentives in the Goblins Project

At Goblins, we strive to maintain fairness across our ecosystem. However, achieving this requires significant effort and resources. Building a robust project involves labor-intensive processes and necessitates capital for various aspects, including audits, development, and legal considerations. It’s also essential to align the interests of contributors to ensure they are motivated to give their best.

Private Funding Round

To kickstart development, we conducted a private funding round with Sarson Funds and an individual investor. The primary goals of this round were to secure necessary funding and onboard key individuals who can significantly contribute to the project’s success.

Incentive Structure

pGOB as an Incentive Option

pGOB functions as an incentive option within our cryptocurrency ecosystem. Here’s how it works:

Minting GOB: One GOB is minted by burning one pGOB after an investor contributes one Stablecoin.
Vesting Alignment: pGOB vesting aligns with supply dynamics. As the GOB supply expands, more pGOB becomes available for redemption. This means there is no upfront payoff or fixed vesting date; instead, vesting is tied to the growth of supply.

This approach ensures optimal incentive alignment. Tokens vest in parallel with supply growth, and redemption occurs only when trading at increased value. Our collective goal as a team, including investors and advisors, is not just supply expansion or price appreciation but both.

Current Vesting Details

Team, Investor, and Advisor Vesting: pGOB currently vests at 5.875% of the GOB supply, with a cap of 9.875% reserved for future team members, investors, and advisors.

Tips and Considerations

Understanding the Incentive Model

Supply Dynamics: Recognize that the vesting of pGOB is directly tied to the expansion of GOB supply. This ensures that contributors are incentivized to focus on sustainable growth.
No Upfront Payoff: The lack of an upfront payoff or arbitrary vesting date means that incentives are aligned with the long-term success of the project.

Investing and Participation

Long-Term Commitment: Investors and contributors should be prepared for a long-term commitment, as the vesting and redemption of pGOB are linked to supply growth.
Alignment of Interests: Ensure that your goals align with the project’s objectives of both supply expansion and price appreciation.

Project Development

Resource Allocation: Understand that significant resources are allocated to essential areas such as audits, development, and legal considerations to build a robust and secure project.
Role of Contributors: Contributors play a pivotal role in the project’s success, and their efforts are recognized and incentivized through the pGOB mechanism.

Summary

Goblins is committed to fairness and optimal incentive alignment within its ecosystem. Through a private funding round and a carefully designed incentive structure, we aim to ensure that all contributors are motivated to work towards the project’s long-term success. By understanding the dynamics of pGOB and its vesting mechanism, investors and contributors can align their efforts with the collective goal of sustainable growth and value appreciation.