PASSED - Proposal 20 – 12 Days of LINKSMAS Marketing & Giveaway Campaign

Abstract/Executive Summary:

This proposal is to requisition 25 YFL from the treasury towards marketing the LINKSWAP launch with holiday themed “LINKSMAS” content and a giveaway utilizing Chainlink VRF.

Motivation:

LINKSWAP’s launch is a huge milestone for YF Link, right in time for the holiday season. To celebrate, YF Link will kick off with “12 Days of LINKSMAS”! For each of the 12 days, YF Link will be giving away at a total of 12 NFTs valued at 1 YFL each. The objectives of doing this way is as follows:

  • Consistent and topical messaging to stay top of mind during launch
  • Drive organic traffic on the LINKSWAP platform
  • Boost liquidity on bonus launch pairs without extra rewards/incentives
  • Promote our partners and enhance engagement with them and their audiences

Additionally, as a LINK-native project, it only makes sense to make this an even more historical event by having one of the earliest giveaways utilizing the Chainlink VRF function. This will accomplish a few goals:

  • Ensure that the giveaway is provably random and fair (similar theme to RugLock)
  • Boost awareness among the LINK community as a leading LINK-driven project
  • Receive attention from the Chainlink team as a serious LINK-dedicated platform

The aim is that this initiative coupled with the current launch incentives will lead to a massively successful launch of LINKSWAP.

Specifications:

Giveaway Overview

Each day during the 12 Days of LINKSMAS, anyone who participates in that day’s LP pool will receive a NFT which will act like a lottery ticket, then one of them will turn out to be winner at the end of the drawing each day. Winning tickets will each be an animated LINKSMAS NFT that’s backed by 1 YFL.

Eligibility Period

  • The “12 Days of LINKSMAS” begins at 12am UTC on 12/14/2020.
    • This will have the 12 day campaign end on 12/25.
  • Entry
    • User stakes LP in reward vault OR user holds LP token
    • On drawing date for that pair, user can enter() to the drawing where they receive an NFT representing a raffle ticket
  • Schedule:
    • Day 1: 12/14 – DRC/ETH
    • Day 2: 12/15– ZUT/LINK
    • Day 3: 12/16 – LAYER/ LINK
    • Day 4: 12/17 – MASQ/LINK
    • Day 5: 12/18 – RUGZ/LINK
    • Day 6: 12/19 – SERGS/LINK
    • Day 7: 12/20 – LINK/ETH
    • Day 8: 12/21 – AAVE/LINK
    • Day 9: 12/22 – SNX/LINK
    • Day 10: 12/23 – yUSD/ETH
    • Day 11: 12/24 – BONK/ETH
    • Day 12: 12/25 – CHRISTMAS/LINKSMAS - YFL/LINK
  • Random Winner Selection
    • The winners will be randomly selected via Chainlink VRF from the LP token pools at the conclusion of each eligibility period for that day at 12am UTC the following day, starting on 12/15/2020
  • NFT Award Distribution (rough outline)
    • After the eligibility period ends at 12am UTC after the first day on 12/14/2020, no more entries will be permitted for that pool token.
    • The end of the drawing will trigger an on-chain request for randomness from the Chainlink oracle.
    • The Chainlink oracle generates randomness and sends proof to the VRF contract.
    • The VRF node responds and verifies the randomness, thus confirming a random winner.
    • This contract will create a request for randomness for the winner.
    • The winning ticket for the previous day is selected, where the owner of that token can claim() to receive their prize
    • Prizes will be 1 YFL and optionally an additional sponsor prize amount in the token of the sponsor
    • This process will repeat for each of the 12 days

More details about the Chainlink Lottery VRF can be read here: https://blog.chain.link/how-to-build-a-blockchain-lottery-2/ 2 and here https://blog.chain.link/verifiable-random-functions-vrf-random-number-generation-rng-feature/

Marketing/Content

The marketing content will consist of:

  • Social Media
    • Daily posts/memes promoting that day’s giveaway and partner by @PontikeksMaximusRoflchoptar and @JohnLambo
    • “Twas the Night before LINKSMAS” comic by @bug and @JohnLambo
    • Animated LINKSMAS Video (TBD)
    • Infographic of Eligibility Pairs and How it Works by @JohnLambo
    • Winner Announcement Posts (showing NFTs and tag winners if they tweet @ us)
  • Medium article announcing and outlining giveaway by @JohnLambo

Costs

Total costs below are at 27.9 YFL, rounding up this request for a total of 28 YFL for any possible overages. The YFL from the treasury will be disbursed within 3 days of passage of this proposal to pay for the remaining costs. The funds will be allocated as follows:

  • 12 YFL for giveaway of YFL-backed NFTs (one per address/randomly-selected winner)
  • 0.7 YFL current equivalent of 24 LINK for Chainlink VRF calls (2 per call)
  • 4 YFL to @JohnLambo for 4 weeks of work including campaign creation, content creation, copywriting, and project management.
  • 5 YFL to @transferAndCall for smart contract creation, completion and management
  • 0.4 YFL to @bug for 4-page comic illustration
  • 2.8 YFL to @PontikeksMaximusRoflchoptar for 24hrs total time of content creation at $50/hr
  • YFL equivalent of 1.5ETH, currently 2 YFL, to @cryptomemez for NFT creation
  • 1 YFL for ETH network fees for deployment, transferring, distribution, etc.

Content will be submitted for review and approval to the marketing team before funds are released. Some of the above funds are still estimates, which any difference in spending of funds will be communicated beforehand to the YF Link community on Discord and will be subject to scrutiny. The funds will be available to spend for a period of two weeks after passage of this proposal, after which the remaining amount will be returned to the treasury.

Voting options

For

Approve the allocation of funds to the LINKSWAP marketing campaign as outlined above

Against

Reject the allocation of funds to the LINKSWAP marketing campaign as outlined above

Thanks again for all your support!

EDITS

The following items have been updated:

  • Workflow/UX for Entry and distribution
    • Now it’s much easier to enter because user interactions are only going to be 2 functions (“Enter” and “Claim”)
  • Event Schedule
    • Removed ROPE and replaced with BONK
    • Launch moved back, official schedule to be 12/14-12/25
  • Costs
    • Due to fluctuations in market rate and extended timing
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