Thanks for kicking off this discussion! This is a good opportunity to clarify two points regarding User Allocation funds:
- User Allocation funds (and their smart contracts) are governed by the Safe Ecosystem Foundation, not SafeDAO
- Ratification of [SEP #21] SAFE Token Utility directs the User Allocation funds to be allocated to users through the Safe Activity Program (SAP)
I. Funds governed by SafeDAO vs governed by Safe Ecosystem Foundation
The scope of governance of SafeDAO and what it controls is outlined in the Governance Framework, which states that SafeDAO governs the funds of the SafeDAO treasury.
II. User Allocation is part of the Foundation’s mandate
The User Allocation funds come from the initial airdrop, which was initiated by the Foundation. It was not allocated by the SafeDAO treasury.
This state is also represented onchain that verifies SEF is the sole poolmanager of the funds.
- Original User Allocation: 0xA0b937D5c8E32a80E3a8ed4227CD020221544ee6
- User Allocation SEP #5: 0xC0fde70A65C7569Fe919bE57492228DEE8cDb585
- SEF as Poolmanager: 0x8CF60B289f8d31F737049B590b5E4285Ff0Bd1D1
III. SEP #21 directs User Allocation funds to use for Safe Activity Program (SAP)
Historically, the DAO has made recommendations on how to allocate the User Allocation funds, such as SEP #5, however the ratification of [SEP #21] SAFE Token Utility creates a clear framework that directs the unredeemed User Allocation to be allocated to active users through the newly introduced Safe Activity Program (SAP).
The SAP will establish rewards for the most active and engaged users.
As such, the SAP also corresponds with the initial intention of the User Allocation, which is
- strengthening the voting power of users in comparison to other stakeholders and
- expanding the number of token holders.
As the first comments in this thread have already shown, there are various perspectives and ways to reward Safe users. These criterias are important and will be taken into account through the SAP. The initial SAP will run for 6 months and is designed in an iterative manner where different criterias can be incorporated over time.
IV. Further Clarification
As over the last months we had quite a few new proposals, the nuances of these details can easily get lost and we are planning a Governance call in the first week of May to go through the full structure and assets of SafeDAO and its relationship to Safe Ecosystem Foundation. We’ll announce the exact date and time here and on our other communication channels: News and Events