Creator Coin Bounties

It’s in the best interests of Sanctum community members that the product’s TVL grows. What if they could serve as an ad hoc sales department for the protocol?

Creator Coin Bounties

Bob has a friend named Ansem, a sizeable crypto influencer. Bob thinks that Ansem should have an LST for their personal brand, so she convinces him to set up a Creator Coin with Sanctum. By way of either a referral link, invite code, or something as simple as a ticket in Discord, Bob nominates Ansem to the Sanctum team to create his own creator coin, ansemSOL. Once launched, Bob receives rewards in one of two ways (or both!).

(1) All Sanctum router swap fees to ansemSOL are routed to Bob’s wallet. This can be time-based (for the first year, first three months, etc.) to ensure that all fee inflow eventually trends back to $INF, ensuring the dropoff in APY isn’t significant and reducing churn for the bounty program.

(2) The Sanctum DAO votes on allocating tranches of the strategic reserve to bounties across different creators. Team members and community members interested in growing Sanctum can also “match” these bounties with their own $CLOUD.

Creator Coins are incredibly powerful, but they currently lack the proper distribution channels (visible ones, at least). Some bounty/referral system that allows the community to help grow Sanctum and be rewarded will not only create new distribution channels but also allow the most earnest community members to be rewarded for their efforts.

I also view this as deeply in line with Sanctum’s core ethos. Breaking down the technical barrier to entry to allow anyone to create revenue via an LST is one of the protocol’s core breakthroughs. A bounty program would further democratize the growth of Sanctum, allowing anyone with an internet connection to feasibly grow the protocol and be rewarded in return.

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unfortunately i dissagree with bounties for creator coins (or LSTS for that matter), and swap fees going to the creator, can just see it getting farmed by unscrupulous types

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Not a fan neither, KOLs will just be referred by their alt/friend imo

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Thank you for the time and effort you put into this, but I’d have to agree with @JohnnyTheClown and @Piair .
I’d rather not create opportunity for “unscrupulous types”.

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im sure someone would find a way to ruin and exploit this.

Thanks for the proposal @ali!

Agreed with the other commenters, I would be very hesitant to give the Strategic Reserve away – that seems easy to abuse.

One way to implement this in a non-gameable way is to do a “revenue share” between the creator and the referrer. If the creator agrees to it we could divert some of his earnings to the referrer for some period of time (or indefinitely).

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This is a great idea. In the future maybe some sort of “creator dashboard” where the creators can allocate earnings.

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