Caden Contributor Proposal [10/1/2021 through 12/31/2021]

Reflection

Things I did well:

  • Marketing: Working with @KeenanL, provided marketing support for the Swapr Arbitrum launch, Swapr airdrop/farming, as well as general marketing. There were a few hiccups around the Swapr Arbitrum launch of course, which led to shifting schedules, but despite that, the Swapr marketing push was highly effective.
  • Social Highlights Program: This program has been well received, and I’ve highlighted a number of Tweets from community members, most often liking them from the @DXdao_ Twitter account.
  • @DXdao.link emails: I created the @DXdao.link email system with end to end encrypted email service Tutanota so that any active DXdao contributor who desires to can now have a dedicated work email! This is a big benefit for BizDev and professionalism purposes, as it can be seen as unprofessional to use a personal Protonmail/Gmail/etc. email account. Finally, with @DXdao.link addresses, emails are now verifiable that the email came from a DXdao contributor, without your new contacts wondering if you are who you say you are when you reach out to them for the first time. The cost to the DAO is minimal - 4.8 euros/month base and 3.2 Euros/month per user. I am separating the payment for the email system into a separate signal proposal to make it official.

Things I did OK:

  • DAO Source License: I created an “Evolution of FOSS for the DAO Age” license, which Tammy also gave input on, but it met too much opposition to implement. The concerns people have are about having a license that’s more restrictive than open source/GNU in general, not any specific issue with the DAO Source license, as far as I know. In the future, some form of a license will ensure DXdao’s financial success and create value for the governance token holders it empowers, all while creating a much-needed competitive moat and preserving DXdao’s future. It’s important to strike the right balance between open source ideals and retaining some value from innovation (which allows for profit and more free and open code in the future), and right now I feel DXdao is too far in one direction on this balance. Such a license would be especially helpful for Omen specifically to be financially successful as a base layer platform for other prediction markets to use as back-end infrastructure, provided that improvements are made to Omen such as order books or UNI V3- style liquidity provisioning. This is because without such a license, it is totally legal for those prediction markets to fork Omen and avoid paying any protocol fee Omen charges. I’ve put the DAO Source License on the back burner for now, and will continue with it if the right time comes and it gains the support necessary to implement.
  • Writing: Wrote and edited articles - this is “OK” because I did less of this than I had hoped.

Things I could’ve done better:

  • PAR Group (now Omen Research Group): I created the working ParGroup.org website, email system, and contact form for researchers and interested people to get involved with the PAR Group. PAR Group was discussed and approved of on previous calls, and passed on-chain in my contributor proposal. However, I made the mistake of waiting to finish PAR Group until months after the discussion about it, due to a focus on Swapr and away from Omen. Because I waited, the plan for PAR Group was no longer fresh in people’s minds, and there was some confusion and miscommunication around the launch and Twitter announcement. The mistake I made here was that I should have brought up PAR Group on a more recent strategy call to cement the plans before PAR Group’s launch, instead of after. Based on the most recent strategy discussion about it, PAR Group will be shifted to be called Omen Research Group, to further align the mission of establishing Omen as a thought leader in the prediction market space. Omen Research Group’s mission will be to help Omen achieve its long term mission as being a platform for others to build on, with other prediction markets as partners and Omen users, not competitors.

Current Contributor Proposal

Timeframe:

  • 10/1/2021 through 12/31/2021

Current Responsibilities:

  • Marketing: Conduct cross-channel marketing for DXdao’s product suite.
  • Writing: Work on writing/editing/ideation for various projects and initiatives.
  • Innovation: Come up with new ideas and share business-focused insights on DXdao strategy and initiatives across products.
  • Social Highlights Program: Monitor Tweets which meet the criteria for the program (tag DXdao or a product’s Twitter), and highlight them where appropriate.
  • Recruitment: When possible, recruit new members to DXdao.
  • Email: Maintain and create new Contributor accounts when needed for the @DXdao.link email service (now that the signal proposal has passed).

Future Responsibilities

  • Aqua Branding (future): During my last work period, I agreed to work in the future on Aqua’s long-term branding development, which will be started at an undetermined date in the future - see this post for some of my preliminary thoughts about this. I will carry this item over through new worker proposals under the “Future Responsibilities” section until it is time to execute, lest I forget it.

Compensation - Previous work period:

  • For my work I’ve completed and not yet been compensated for, I will be requesting: (CALCULATIONS: $6,000 X 0.9 = $5,400 0.1667% X 0.9 = 0.15% REP. 1,672,860.91 REP total X 0.0015 = 2,509.3 REP $4,000*0.9 = $3,600 DXD $3,600/523.77 = 6.873 plus $3272.40 of DXD from last period =13.12 DXD)
    • 5,400 USDC
    • 13.121 DXD based on all-time high price of $523.77 at time of last contributor proposal submission, vested per standard vesting terms
    • 2,509.3 REP
  • See my previous contributor proposal: Caden Rain Worker Proposal which was passed on-chain here: Alchemy | DAOstack

Compensation - 10/1 through 12/31

  • 90% time at Experience Level 3. Standard payment and vesting terms.
  • Applicable Lisbon / travel stipend
  • Reimbursement for incurred web hosting costs
3 Likes

Contributor payout proposal for September’s work is live - should be titled Contributor Payout* Proposal

Can you be more clear about what this means?

  • Social Highlights Program: Monitor Tweets which meet the criteria for the program (tag DXdao or a product’s Twitter), and highlight them where appropriate.

I consider this as a general task for any DXvoice member! Is there something specific you will contribute too?

  • Writing: Work on writing/editing/ideation for various projects and initiatives.

Can you be more specific about what you want to write about? How manny articles?

Aqua Branding (future): During my last work period, I agreed to work in the future on Aqua’s long-term branding development, which will be started at an undetermined date in the future - see this post for some of my preliminary thoughts about this.

I don`t think your focus should be on Aqua but more on taking responsibility of our twitter accounts and writing about all things DXdao.

Innovation: Come up with new ideas and share business-focused insights on DXdao strategy and initiatives across products.

I don`t think this should be part of your responsiblities. DXdao has a very limited amount of developer resources. Everyone has ideas around products, that does not mean we should/are able to pursue those.

I would like to see clear deliverables from your side especially now that a few members have signaled the need of someone who can manage our desperately needed twitter activity and public outreach.

2 Likes

Beside’s Gero’s comments, can we revisit the Signal Proposal for dxdao.link?

  • Email: Maintain and create new Contributor accounts when needed for the @DXdao.link email service (now that the signal proposal has passed).

It passed, but a with single vote @ 0.6% REP. That’s not enough quorum. Can you list the name of contributors using the email service, they should have voted on the proposal. I would highly recommend another signal proposal.

As for Aqua-related responsibilities, it’s a tentative one as the Aqua program is currently on halt.

2 Likes

.@adamazad You’re right, I wish there was more participation on the signal proposal too. I created a topic for discussion around it, which received 45 views and no comments. This shows that people saw it, and had sufficient opportunity to vote in favor or against, but simply chose not to vote. If people choose not to vote, then they relinquish their say in governance decisions. That being said, if you or someone else wants to make another signal for it then we can do another!

As far as Aqua is concerned, that’s correct, Aqua is something to work on in the future when it is no longer on pause.

Can you be more clear about what this means?

Sure, I’m glad you asked, because part of this is outdated - when my article a week plan goes live, I will no longer have a primary focus on Twitter, but on article writing. My skill as an editor and writer exceeds my skill as a Twitter user, which is why I’m increasing my focus on writing, which I’ll update my post to reflect. As far as my marketing activities go, I create Tweets whenever any DXdao contributor notifies me of an opportunity for them, as you may recall from our working together. I assist @KeenanL with creating Twitter threads and marketing pushes. I provide feedback on most Tweets and articles that go through DXvoice. I write Medium articles, and in addition to the articles you’ve seen that I’ve written, I also have a few Medium articles which are currently unpublished/stuck. This is why I’ll be announcing a new article a week schedule which will create a better and more consistent workflow for me to publish more articles, and ensure that they don’t get stuck in limbo anymore. I also do competitive analysis, such as researching competitors’ social accounts and reading competitors’ articles and newsletters. I monitor all Tweets which tag DXdao or a DXdao product so that I can Like/ReTweet/Reply appropriately.

  • Social Highlights Program: Monitor Tweets which meet the criteria for the program (tag DXdao or a product’s Twitter), and highlight them where appropriate.

I consider this as a general task for any DXvoice member! Is there something specific you will contribute too?

This is referring to the DXdao Social Highlights program I created and will continue to mantain. I have a dashboard set up to monitor qualifying Tweets (Tweets that tag DXdao’s Twitter or any DXdao product Twitter) which I use to find and highlight them.

  • Writing: Work on writing/editing/ideation for various projects and initiatives.

Can you be more specific about what you want to write about? How manny articles?

You beat me to the punch on announcing this, but I will be announcing my schedule for writing an article a week. More details to come when I lay out the specifics in Keybase.

Aqua Branding (future): During my last work period, I agreed to work in the future on Aqua’s long-term branding development, which will be started at an undetermined date in the future - see this post for some of my preliminary thoughts about this.

I don`t think your focus should be on Aqua but more on taking responsibility of our twitter accounts and writing about all things DXdao.

This is correct, my current focus isn’t at all on Aqua-this is an item which I carried over so that I and everyone else doesn’t forget about it when the time comes. As I wrote, this “will be started at an undetermined date in the future.”

Innovation: Come up with new ideas and share business-focused insights on DXdao strategy and initiatives across products.

I don`t think this should be part of your responsiblities. DXdao has a very limited amount of developer resources. Everyone has ideas around products, that does not mean we should/are able to pursue those.

As one of the only DAO members with a business degree and background, and as the man with the idea and de-facto lead for two startups I’ve Co-Founded, this is probably my highest value contribution to the DAO. If anything, I should be sharing my knowledge with the DAO more, not less, because the DAO needs it.

I’m not talking about ideas for new products, I’m talking about revitalizing existing products like Omen. I’m talking about ensuring a future for DXdao by making products that will become profitable instead of money-sucking. I’m talking about creating a competitive moat and real differentiators so our products aren’t just another Uniswap fork/etc. Alternatively, if DXdao’s mission becomes creating decentralized forks of many existing products - which I think it should - then this competitive moat will come through DXdao’s processes and brand. I’m talking about providing value to users and creating product-market fit. I’m talking about DXdao becoming the DAO of DAOs!

DXdao and its products desperately needs a competitive edge which we’re currently lacking, and I will 100% continue to try to get us there, whether my ideas pass the DAO or not. Here are some of the innovations/ideas I’ve contributed to the DAO so far:

  • Reducing Omen LP Loss - This proposal, which was successfully implemented, provided a technical fix to improve Omen and reduced LP loss significantly. Specifically, this resulted in a ~39% max LP loss reduction at minimum to a more than 1,000% reduction at maximum, depending on the odds when initially liquidity is provided, according to the calculator I used in the post.
  • The DXdao Social Highlights Program - This program, which is active and ongoing, is designed to increase awareness of DXdao and its products, encouraging greater quantity and quality of Tweets about them. The program showcases, “show, don’t tell”, the decentralized nature of leadership and decision-making at DXdao, which may lead people to ask, “How do I join?”
  • Mascot for Omen - This proposal suffered from unlucky timing and many roadblocks, but it’s still on track to eventually reach completion. This will be more useful when focus is shifted back to Omen, as it will provide a huge branding and marketing boost plus form the basis of a fun, interactive in-app tutorial to using Omen.
  • DXdao.link email address - Despite being more contentious of a solution than it really should be, I’ve provided the option for any DXdao Contributor who chooses to do so to use a @DXdao.link email address. This solves the issue of unprofessional, unverifiable personal emails and enables more effective BizDev and communication.

In addition to the above ideas/innovations/strategies which are active, I’ve provided many more ideas/innovations/strategies which are not currently being pursued for varied reasons, but which may go on to create value in the future. Here are just a few:

  • Advertising: It is frustrating that the DAO does not recognize the value of advertising. It is almost unheard of for a tech product to have ZERO paid advertising, yet that is DXdao’s current position, and frankly one reason why our products have few users. Whenever the DAO recognizes the importance of advertising to attract users, I am ready to execute on thought pieces linked to ADs, so that a user searching for “UniSwap Arbitrum” sees an article “Arbitrum’s Best AMM: Why it Isn’t UniSwap”, which showcases the advantages of Swapr over UniSwap and acquires users, for example. These ADs can be run on many places, not only Google but privacy-preserving DuckDuckGo, and could even be run using @KeenanL’s idea to use a decentralized advertising platform. Everyone says “We need more marketing”, well this is the “more marketing” that we need, and whenever you’re ready, I’m ready, DXdao!
  • DAO Source License - This license would create a much-needed competitive moat for DXdao products. This is shelved for the time being, and does not currently have sufficient support, but may become more useful later when DXdao products have more original code to protect.
  • Swapr Improvements: I have suggested many Swapr improvements which couldn’t be implemented due to dev or other constraints, but I’ll just share my idea for game-changing new features which could be added to Swapr here :point_down:

Idea: Leverage.Crypto, a swapping, lending, and leveraging super-platform

Problem being solved: DeFi lending protocols are inefficient because they are forced to keep the collateralization ratio of assets relatively low for security. It may not seem like a big deal only being able to borrow using 75% of the collateral you deposited, but if you’re multiple times leveraging - borrowing, then borrowing again - this is a much bigger limitation. A 75% collateral factor only allows for up to ~4X leverage, but a 90% collateral factor allows 10X leverage. 99% collateral factor? 100X leverage! This is the gateway to DeFi futures-equivalents (10X leverage) and also absolute degenerate super-leveraging

With regulators closing in on CeFi, 100X leverage trading and really any leverage trading above 20X is going away fast. Binance and FTX both cut it to 20X max leverage it in anticipation/advanced compliance.

I know what you’re thinking - “It’s not possible to get a better collateral factor without taking on more risk for the lenders.” But what if I told you it WAS possible to get to a 99% collateral factor, and allow for 100X leverage, without lenders taking on much added risk? :exploding_head:

Here’s how it works: Leverage.Crypto is also a swapping platform with its own liquidity pools. But these liquidity pools are unique in 4 ways

  1. They aren’t available for the public to swap with like other platforms - instead, they’re reserved for creating and liquidating leveraged positions.
  2. These liquidity pools aren’t traditional UNI-style liquidity pools, they don’t have an even amount of each asset on each side and they just track the spot price of the asset with data from Chainlink or The Graph, or whatever the oracle of choice is.
  3. These liquidity pools don’t have the same risks as other liquidity pools because every time there’s a swap, it’s done at the spot price of the asset. So there’s no impermanent loss, just possible decay of value over time if LPs happen to get the token that ends up going down instead of up.
  4. These liquidity pools are also composed of “patient swappers” who only add their liquidity for one transaction. More on that later

When someone who’s ~100X leveraging has the price drop below the 99% collateral factor, BOOM, the liquidity pool is used for instant liquidation of the sorry degen.

So how is this safe? Because the total amount of borrowing is capped at the amount of the token that’s in the liquidity pool. Remember, the liquidity pool is reserved only for liquidation and leverage creation, so there will always be enough liquidity to liquidate. The only risk is if the price of the asset falls by more than 1% within the seconds it takes for the oracle to update and the internal swap to be completed, which is very rare. The faster the oracle, and the faster the blockchain this is running on, then the higher the collateral factor can be set and the more leverage that can be levered :rocket:

Now, for more about those patient swappers. This came up when discussing Swapr on a call during the past few weeks, and basically how it works is if you add single-sided liquidity in Uni V3 for a very narrow range, I.E., right below the current price of the asset you’re trying to swap to, you’ll be able to get your swap done without paying any swapping fee, and even earning a small amount of LP fees. Uniswap hasn’t set this up to be convenient though, which Leverage.Crypto will. Patient swappers on Leverage.Crypto will get PAID to swap at the spot price of their asset. There’s a lot of people who are willing to wait a bit who’ll take that deal
IN SUMMARY:
By using a special type of closed liquidity pool on a DeFi lending platform, it’s possible to achieve very high collateralization factors without the lenders taking on much if any more risk. While I laid out how this can be used to achieve RIDICULOUS amounts of leverage, it’s also amazing for everyday borrowers because it reduces their chance of being liquidated, and gives them much smaller penalties for liquidation :money_mouth_face:

I hope this answers your questions @corkus, and keep in mind, my DMs are always open for any questions or feedback!

4 Likes

I would recommend you to break up your responsibilities into more specific buckets (responsiblities, deliverables, nice to haves). Several points can`t be evaluated because they are still not clear in terms of what the DXdao can expect. So far the only specified deliverable is that you are putting focus on writing an article once per week(which is great) but all the other responsibilities are difficult or not possible to verify after the two months period.

To give you a clear example what I think is not verifiable/evaluable:

  • Come up with innovative ideas
  • Recruitment
  • Email service
  • Aqua (you should not focus on Aqua, so please remove this from your responsibilities until there is an active squad working on it)
1 Like

Just commenting on the recruitment section of this. In general, I think recruiting/networking should be a part of every contributors responsibilities at DXdao. However, I am a bit skeptical of it being a core responsibility for you @Caden moving forward. I think at the moment, it would be more beneficial for you to focus your attention on other areas like the social highlight program, writing and community engagement through Twitter and Discord.

5 Likes

To give you a clear example what I think is not verifiable/evaluable:

  • Come up with innovative ideas

My past performance, along with the several examples I’ve given of how I’ve delivered on this, speaks for itself. I can’t know what future innovative ideas I will come up with, because if I knew, then I would’ve shared them already.

  • Recruitment

So far during this contribution period (10/1 through 11/30), I have introduced two developers to DXdao, one of them a Solidity developer with 8 years of developer experience (1 year in Solidity), and the other a full stack JavaScript developer looking to get into crypto. Only time will tell if they end up joining the DAO.

  • Email service

I’ve already created the email service using Tutanota, and it’s fully functional, including private, end-to-end encrypted email and end-to-end encrypted calendar invites. Any active DXdao Contributor may contact me to obtain their @dxdao.link email address. My responsibilities now are maintaining the website hosting and email service, creating new accounts for contributors who desire them, and troubleshooting any issues that arise for contributors with their accounts or with the email service.

  • Aqua (you should not focus on Aqua, so please remove this from your responsibilities until there is an active squad working on it)

We’re already on the same page here, I am not focusing on Aqua. To make this even more clear, I’ll move Aqua to a new category, Future Responsibilities.

Just commenting on the recruitment section of this. In general, I think recruiting/networking should be a part of every contributors responsibilities at DXdao. However, I am a bit skeptical of it being a core responsibility for you @Caden moving forward. I think at the moment, it would be more beneficial for you to focus your attention on other areas like the social highlight program, writing and community engagement through Twitter and Discord.

This was discussed and resolved personally, and @Melanie and I will be co-authoring a Medium article describing the benefits of working for DXdao and how it differs from a traditional organization, with some pros and cons collected from contributors. This will aid DXdao’s recruitment efforts because it will give Melanie, and everyone else who has someone they want to recruit to the DAO, an article to send which explains the benefits of DXdao and what it’s like to contribute for the DAO.

For those who are not aware, I have introduced two developers to DXdao this month, one of them a Solidity dev, and the other a full stack JavaScript dev. As I go to more crypto conferences and meetups, I will continue to recruit whenever the opportunity arises.

3 Likes

I have submitted my proposal on-chain, and it can be viewed here: dxvote.eth

I’ve updated the end date from end of November to the end of December so that this proposal is 2 months forward-looking. I will be working only 75% time commitment in December, as I will be taking off the full week of Christmas to visit family (December 27 through 31). October and November remain 90% time commitment.

1 Like

Hi @Caden! I appreciate all the work you’re doing here answering people’s questions. And I love the energy and also that you are an active thinker. I want to encourage you to keeping having ideas and testing them. But I also want to echo @corkus’s point that DXdao has a backlog of awesome ideas, and that the thing that we all need to be focusing on is execution. From my time working on startups before coming to crypto, I was familiar with a saying “Ideas are cheap. Execution is hard.” It’s the execution that separates the wheat from the chaff. And I’m afraid that in the last couple months, you may have been a bit distracted from your core responsibilities (though it’s also important to acknowledge there’s been a lack of leadership recently within DXvoice and this is something we’re working to address). So I think while it’s good to keep thinking, it’s important to not let things distract you from delivering on your core responsibilities. It’s also good to be self aware, and if twitter is not a strong point for you we should work with that knowledge, but I don’t think you should be avoiding twitter responsibilities while that is still a need for DXdao.

In short, I like the energy, but let’s make sure we’re focused on the execution of our core responsibilities! Looking forward to seeing the content you will deliver in the next worker period. We are working on some cool stuff so let’s see if we can get our engagement up!

8 Likes

Hey @JohnKelleher, I agree. I have been distracted from writing articles, and I’m not happy with my execution on that, which I take full responsibility for.

Regarding Twitter, however, I hear and understand that people want me to make more Tweets, but I haven’t done a good job of articulating why I’m not doing that. I’ll do my best to explain here:

Twitter is primarily used by organizations like DXdao as a news and announcements feed for sharing information that’s timely and relevant to the organization’s audience. This is how DXdao’s Twitter currently operates, which is a good thing, because it means important information is easily accessible and not buried under memes or less relevant content. When organizations make too many Tweets that aren’t timely and relevant (announcement-worthy), followers disengage or even unfollow, and then when the organization shares important information on Twitter, it misses much of its target audience.

I make sure that the vast majority of the Tweets I send from DXdao’s Twitter accounts are timely and relevant. Timely and relevant Tweets primarily come from product/organizational news and announcements, which Keenan does a great job of coordinating. I also monitor when there’s a Tweet that tags a DXdao Twitter account, and I sometimes source a timely and relevant quote Tweet or ReTweet from this source. Finally, whenever someone in the DAO notifies me of an opportunity for a timely and relevant Tweet that fits with the branding and marketing strategy, I always deliver it.

DXdao’s Twitter accounts overall have been doing fantastic on engagement and follower growth compared to 6 months ago, which Keenan also deserves big credit for. Unfortunately, some people look at another metric - “Number of Tweets” - and think that because this number is not high, I’m not doing my job. I’ll correct this misconception now, because having a higher number of Tweets is not a good thing by itself. In fact, when I worked for Dell we had a MAXIMUM targeted number of Tweets not to be exceeded except in special circumstances, for the same reasons I explained above. More Tweets crowd out the important information, causing followers to lose interest.

In conclusion, if anyone has ideas for timely and relevant Tweets you want me to make, just DM me and I’ll deliver them, assuming it fits with the branding and marketing strategy. But please understand that simply asking for “More Tweets” is a tall order, and it wouldn’t produce the results you think it would.

Thanks for the thoughtful response. I agree we shouldn’t be striving for quantity. My comment about not avoiding twitter responsibilities was more in response to your following comments from above.

It’s fine if twitter is not your primary focus, but I just wanted to point out it is still important. And the recent lapse in Omen tweeting is on my mind, but not saying that was because of you. I think there was a wider communication lapse with Omen, for which I am partly culpable.

4 Likes