4MCrypto, thank you for your feedback. It is important to state that all R1 initiatives come from a framework focused on restoring depegged assets and strengthening the Harmony ecosystem. All of our ideas are aligned with this vector.
Regarding the proposal, we have gone through several iterations and have scaled back specifics as we were advised it was too detailed. The latest proposal is consolidated on purpose and focuses on goals and delivering on milestones that will assist in burning depegged assets (building more options for people to burn) and the larger recovery plan.
I will address your points one by one.
Specific Milestones
We outline very specific milestones in our project management framework. Monitoring and reporting are the final stages, so first, we must have milestones for planning, initiation, and execution. We plan to have “Monitoring and Reporting” metrics on our Ambassador Website and most importantly want Harmony’s specific metrics for this program.
Here are the milestones we outline for the first 6 months. As we get closer, we will be more specific with the second 6-month stage and have on-chain metrics on our Ambassador Website.
- Milestone 1: Release the launchpad for MEME tokens mockup, receive community feedback, and build stakeholder engagement.
- Milestone 2: Launch R1 Validator.
- Milestone 3: Release launchpad for MEME tokens using depegged assets.
- Bonus Milestone 1: Launch Ambassador Website showcasing milestones and progress.
- Bonus Milestone 2: Publish one official tweet per week and one blog article.
Vague Deliverables
Regarding the feedback on vague deliverables, we initially had specific details but were advised to remove them and highlight our track record as a guide to future performance. We wanted to follow this plan’s framework but were advised to target a few milestones/achievements that we can deliver on instead of the lofty unrealistic expectations that have been floated in the past. Plus, we are asking for a budget of $10.6k for a 6-month commitment with 5 team members, not the $450k for the last Ambassador program.
- R1 137M rONE Snapshot voting engagement at the beginning of the recovery- Link
- $13 million in depegged assets staked to the Governance dApp
- 10 million ONE delegated to our R1 Validator
- NFT support for R1 Ambassador past achievements
- Recovery One Foundation’s 500+ unique visitors to the Recovery.Exchange and our robust social media presence that can direct active users to the new launchpad.
- R1 Ambassador creation of the ONEShow as a means to direct active users to the launchpad.
New Launchpad
The launchpad we are proposing is designed to give utility to depegged assets. This differs from existing launchpads and focuses on integrating depegged assets into the ecosystem. I hope you understand this point.
Ownership of 20 Million ONE
The 20 million ONE tokens staked to the R1 Ambassador Validator will come from Harmony. Harmony will own this delegation, and the staking rewards would fund the program. If the program does not achieve its milestones or meet Harmony’s expectations, Harmony can withdraw the delegation. This is not a permanent transfer; it is a delegation to a validator to fund the program and can be withdrawn at any time.
Launch R1 Validator
The R1 Validator is launched for the sole purpose of the 20 million delegation from Harmony. The validator will have a 100% commission rate and will not compete with any other validators. We are proposing a new, innovative funding mechanism—POS program funding. Success is defined as having the 20 million ONE staked by Harmony to fund the program.
Team Roles
We had more comprehensive details on team roles in a prior draft. Please see the first draft for these details.
Risk Assessment
Risk assessment was included in the first draft.
Sustainability
The program is funded via staking rewards from the delegation by Harmony. The funding is $10.6k for 6 months. Every six months, there will be a review with Harmony to ensure alignment. Additionally, sustainability comes from revenues generated through the launchpad.