AIP 31 proposes an amendment to AIP 15 specifications:
Specification in AIP 15
“…If the AIP is voted on and rejected a reward of 2000 sAST is paid out by the treasury. If the AIP is voted on and accepted a reward of 5000 sAST is paid out.”
AIP 31 proposes to amend the above to:
“…If the AIP is voted on and rejected a reward of 800 USD (open to discussion) equivalent in sAST paid out by the treasury. If the AIP is voted on and accepted a reward of 2000 USD (open to discussion) equivalent sAST is paid out. The exchange rate will be the spot price at the closing of the voting cycle.”
AIPs are for new strategic directions and project proposals with budgets, teams, and timelines. Since AIPs are tailored towards long term direction and growth of the platform the rewards are tailored as such (eg with a stake). When AIP 15 passed the vote, the project was young, the community small, and the price of AST was lower. In retrospect, a ‘perky rewards system’ was a way to entice people to collaborate and build a community - and it has worked. Furthermore, AIP 15’s rewards system predated other ways to contribute and earn - ie. bounties.
The pegging the rewards to USD ensures:
- That all AIP ideas are valued equally over time - regardless of the variation in value of AST
- It brings in-line the initial reward amounts closer to the bounty rewards scale
- Incentivizes community participation and authorship more heavily during a bear market trend.
To be implemented by the next voting cycle.