@amitrovich 

Hi,

Thanks for taking the time to leave feedback.

Let me address your points one by one.

Guys, how on earth does the NFT reward the referenda participants?

We have seen that NFTs can be an incentiviser for governance participation as shown by the success of our Shelf Collection on RMRK2.

Who on earth would want to buy things that are supposed to be soulbound anyway?

By making the NFTs tradable you allow a market to form. This has been hugely successful with our Shelf Collection as voters and non-voters were collecting items. So much in fact that we are the most bought collection in all of RMRK2!

The market around the tradable NFTs is what turned an NFT incentive into a cash/KSM incentive (without directly paying out KSM). We sent something out for free that people associated value with and were willing to pay for. The vote numbers after we started with the sendouts in ref 171 speak for themselves.

Now there are of course use cases for soulbound NFTs as well. We will allow much more customisation for the NFTs as well as making them non-tradable. That way some creators could specialise in creating soulbound collections via our UI for referenda voters. It will be pick and chose. We want to build tools that give creators free reign on their creativity.

And why this app is worth $20k? You can do this on Unique/Quartz in 2 days and then add tonnes of features... Even if you want to do it on the AssetHub for ideological reasons, you can use our SDK to do that, again - few days of work.

Our Rewards Creation UI works as follows: get all the creator inputs for the rewards -> pin any relevant data to IPFS -> get all voters for a given ref -> calculate each voter's governance locks at ref expiry -> build a "luck curve" based on the locks for that ref -> calculate chances at epic, rare and common for each voter -> build all the required NFT transactions -> return a set of transactions (most likely multiple due to block size limits) ready to be signed by the creator -> once the transactions are signed we mint a config nft with our wallet that verifies that the sent out NFTs have been created via our UI.

That is just the rewards creation UI, one component of our website and project. Our mission is to incentivise governance participation. That starts with awesome voting UIs, which is what we also built. We offer features in our voting UI that to the best of my knowledge no other UI currently offers and hope to drive innovation here too.

I hope you can appreciate the challenges that go into building a project in this ever changing landscape and how many times along the way we had to reassess and pivot. Feel free to go through our github repository to see the work that been put in to get us here.

The project is definitely experimental in nature. While we did have great success with the first iteration of it, there are no guarantees for the future. Things move fast. We built what we believe is a great path forward for the project.

Proof of Chaos 2.0 eliminates the short comings we had with Proof of Chaos 1.0. With it we are now enabling anyone to become a rewards creator and reek the benefits (royalties). We envision that this will drastically drive competition and put creativity on steroids with the rewards themselves.

I hope this clears up things a bit. If you have any other questions don't hesitate.

Thanks again for taking the time!

@ProposalCritic 

Thanks for your feedback!

While we were a bit more quiet on socials, we have not been dormant. On Twitter alone we had at least 1 post each month updating on our progress. Many would have also seen us in various Element groups chatting with several ecosystem teams brainstorming on a path forward. All the while we were slowly building different parts as we had a clear picture. As mentioned in the proposal, a lot has happened in the nft space in Kusama over the past 9 months.

It was clear we had to move away from RMRK2 at the end of last year as the project was getting deprecated but it was not clear to where. Instead of building into a wrong direction we decided to wait for the dust to settle. Projects were deprecated and new ones emerged. Then the new ones were also deprecated again... Please note that the nfts pallet (the one we are minting nfts to now) only came in like march or april to Kusama...

That is just the nfts part though. Things for our Proof of Chaos 2.0 vision (decentralize rewards creation) also constantly changed as XCM got upgrades for example and usage around OpenGov became more apparent.

As such we fully ramped up development when we had a clear path forward again. This decision ensured the survival of the project as we were able to spread previous funding very far. This will have saved token holders a considerable amount of funds that could have potentially been invested in a wrong direction. Feel free to read more detail on this in the proposal.

But these are just words at the end of the day. Let's have the data speak for itself. Please check out our github commit history that disproves your argument pretty quickly.

I don't think this proposal brings any value.

Did you check out our rewards creation UI and voting page?

https://www.proofofchaos.app/kusama/referendum-rewards

Put your creativity hat on and do a mint! Depending on the referendum you chose to do rewards for, you will have to lock up probably around 4-7KSM for nft deposits (our UI will tell you before you sign the transactions). Once you do a mint, let me know and I will pay you the amount back out of pocket.

This is a proposal for retroactive funding. That puts us as builders on our back foot and is a pretty nice setup for token holders. All the power is with you guys. An added advantage is that you also have the benefit of testing the already completed work before making a decision. We as proposers believe that our product will speak for itself to convince token holders of the value.

So before making a bold statement such as

I don't think this proposal brings any value.

it would be great if you actually used our product to confirm that. I think that would be a pretty decent thing to do. Again, we are on the back foot here. Please put yourself in our shoes.

Appreciate your time and the opportunity you provided for us to clarify these points.