Identifying easy wins and generating a strategy
Date
May 3, 2022
Attendees
Note taker
Type
Property
BDAO Planning Issues & Outcomes Worksheet survey:
Server response: 22 responses on the survey, but one single comment on the handbook
- Eric: Best approach will be to read and form our own idea on the feedback received. And maybe drop another link again on Friday and form our own opinions.
- Justice: I will put some circles and highlight some stuff that will help us not being stagnant
- GSE update on S4 launch : Dry-run it will be in less than 2 hours and the actual event will be on Friday 6th.
During the dry-run we will get a complete picture in regards to the time and also how easy it is to get so busy on the next thing and not optimizing things that need to be done.
- Single source of proof - dao identity
How will I make changes and be agile and not be tight on the season decision.
- Manuel - Lose agenda items - Messari article, exploring orbus and commonwealth as governance tools
- Joe: Orbus is not a priority at this moment as it has potential but not in our scope.
- Justice: Recently saw other communities combining discord and discourse so only people with certain roles can vote/access the forums
- Joe: Ops Guild - It’s kind of experimenting with some solutions that can close the sybil attacks
- Saul: There are places where we can add value with quick wins, but we don’t want to be this kind of group that goes off into a dark and comes back with ideas out of nowhere.
- Eric: Establish our objective (increase participation in governance for example) - if we change from discourse to commonwealth and the engagement will not increase then we ask why do we switch? Every idea needs to have a justification attached to it. A reason for doing it.
If we want to increase the engagement then we need to focus on what solutions will work.
- Manuel: Everything needs to be justified. Everything needs to be tied back to our objectives.
- Eric: We can put down all the ideas and not throw away our ideas as everything is fair game.
- Eric: The results of the survey will be data that will form our ideas and start going through them. We can check and have them vote or even debate them and see what we can go with. Survey can be one tool and the environment can be a different tool. Survey can be just a set of data we can form our opinions on and not the “bible”.
- Justice: If tokenomics run out of money how can we deal with that?
- Eric: If we can name 3 things that will end the DAO, then one of them will be running out of money.
- Joe: This can be the most pressing thing right now.
- Manuel: For each thing that we identify as a DAO killer, there are many paths to solve that. For example, If running out money is the killer, the solution could be to incrase the value of BANK, OR switching the purpose of BANK as a salary tool and using ETH/USDC. Or maybe a combination of both. Part of our job is to find the right path
“How may we” - a brainstorming exercise to find possible solutions for identified “Killers”
The rest of the notes is the team brainstorming the items on the Miro Board linked below.
- 2 ways to do it.
- a.How may we make bank 1$?
- b.How may we keep bank decreasing further
- Justice: lock-up bank in circulation and spend less.
How do we stop pressure ?
- Joe: by creating utility/ if we are looking at creating demand on the social aspect, you can tie social aspects to it. Generally speaking the general value will be speculation and maybe creating an aspect to have the asset create yield.
- How do we help the value of the bank with the VitaDao?
- Reducing the supply as the bank is locked-up.
- Token Swap and locking up.
- Joe: could be a useful strategy.
One area where our dao can be active is to be efficient in working with our community assets and put that to work.
- Eric: Stop vested emissions unsubtle sell pressure - how to do it?
Have more buy pressure then sell pressure - how do we create buy pressure?
- reduce supply
- create demand
- … what else?
*invisible
Maybe the answer is as simple as there is too much supply. But this exercise should run us to an actionable ideal.
- Manuel: “No stupid idea game” - What if we take the bank of the market and make it available on our website and create our bonding curve and have a formula.
- Joe: If we are using a bonding curve then we need to take deposits and could take alchemix to repalish our treasury and pump our treasury.If we want incentives, our deposits and we can create yield on the bank.
Very risky. May consider using nexus to mitigate the risk that arises on the protocols.
- Justice : we can use Miro boards that can help us with coordinating and organizing ideas.