Caney Fork Worker Proposal Apr & May (2021)

Below is a scope of work to be done from 4/1 - 5/31 for Caney Fork LLC. I am powers_chris on keybase & telegram, Powers on the forum and Discord and “Chris” on calls.

I’ve included a scope of work followed by some reflections on my performance. Before that, I wanted to get feedback on a new initiative that I think is an important priority for DXdao and deserves attention and resources that I’d like to devote during this worker proposal.

DXD Tokenomics WG

I’d like to create a bonding curve or “DXD Tokenomics” working group that will research and find a new solution for DXD value accrual. This is an important and necessary undertaking as the bonding curve is paused and the launch of OMN and other product tokens.

I’d expect this working group to function similar to the Gov 2.0 working group, meeting every couple weeks and discussing possible solutions before drafting up a consensus solution that is put to a signal proposal.

In my opinion, this would be worth the resources and time invested for both myself and other full-time contributors. I also think we should involve others from inside/outside of the community. I’ll talk more about this on next Wednesday’s governance discussion. Feedback/comments below also appreciated.

Scope of work as segmented by Squad

  • Governance (50%)
    • Organize, set agenda and take notes for weekly governance calls, organized under #Governance tag.
    • Work with @Melanie @allyq on improving worker proposal process, tracking DXD and REP payments and
    • Recruiting: work on finding new contributors for non-technical roles, like marketing
    • Treasury tracking and communication. Work with @fluiddrop on Q1 treasury report and developing system for tracking treasury movements
    • Goals and Deliverables: A completed DXD buyback (goal: proposal submission by April 20, DXD tokenomics WG forum post, Q1 Treasury Report + another treasury authorization proposal (goal: April 10)
  • Swapr/Ecosystem and Product development (30%)
    • Orangize, set agenda and take notes for weekly Product strategy calls
    • Work with Zett, Federico, Venky and Swapr team on Swapr strategy, investigate Layer 2 developments, facilitate DXdao liquidity in Swapr (mainnet and elsewhere)
    • Further Omen Guild and OMN token discussion
    • Provide feedback on Mesa MVP and strategy/branding efforts
    • Goals and deliverables: $5m of DXdao liquidity in Swapr, Swapr on xDai
  • Biz Dev/Marketing/Community (20%)
    • Work with Keenan and write ‘Month in Review’ to give updates across product, governance and community.
    • Write other content pieces for product and governance needs
    • Work with Sky on partner outreach and relationships
    • Goals and deliverables: Month in Review first week in April, enhanced DXdao visibility

Reflection on previous proposals:

In looking back at those, things I think I did well:

  • Governance 2.0 signal proposal passage - it took longer than expected, but I’m happy that the community has agreed on a sustainable path forward with a new voting power and governance structure in addition to a migration process. Now, comes the work of building it.
  • xDXdao base - gas prices have continued their upward trend and made governance on mainnet extremely difficult. Luckily Nylon already deployed a base on xDai and we were able to shift some governance items to the xDai base. The authorization proposal outlined a path for worker proposals to move over to xDai and now most DXdao governance activity is on xDai. We ran into challenges on counting/tracking REP but hopefully are putting a system to address this
  • Governance & Product strategy calls - nothing fancy, but managing these has been an important part of my scope! Feedback on improvements welcome.

Somethings I thought I did okay

  • HR/Recruiting - Some thing i would have put entirely in the “did not do well” camp before the last week or two after we’ve made much progress on the open positions document and bringing on Melanie and Ally who hopefully will grease the wheels of the proposal process for workers. I still think I could have done a better job of recruiting/onboarding/handholding, but finding great contributors is a continual process.
  • Swapr - In 2 weeks, this may be in the “did well” camp as I feel like we are on the precipice of breaking out. I thought I struggled to work on strategy and come up with solutions at the beginning of February, but with the launch on xDai, we have moved or are in the process of moving about $1m into Swapr on xDai through several proposals that I initiated and led and about $600k in or on the way for Mainnet. This is less than the $2m goal I had in my proposal though.
  • Treasury - DXdao’s $45m treasury is still poorly diversified and we need a lot more insight into where funds go and a broader plan on how the treasury should be moved. In the last two months, I felt we laid the groundwork for a more elaborate treasury strategy. First, by diversifying into stablecoins with over $2m in treasury. Second, putting treasury funds in xDai and Swapr. And third, bringing on @fluiddrop to help track flows better.

Somethings I did not do well

  • DXD buyback - I put this as a goal in my last worker proposal, but that was missed. There have been other things to concentrate on but I have not yet completed all of the supporting docs to move the process along. I feel we are on the right track though and hope to submit a forum post in the next week.
  • Contributor hub & documentation book - this is a great initiative by Keenan with help from Tammy. I have not done a good job of helping and missed my goal to write some more info on the Contriburo hub by the end of the month. Luckily, others are picking up my slack and helping to build this out, and hope for more progress as Melanie and Ally get more involved.
  • DXdao narrative in the industry - the mood is slowly shifting to DAOs, but we (I) need to be more proactive about driving DXdao in the space. Still, the industry is so focused on frenzy/mania that it’s hard to drive DXdao’s governance narrative. This will take time, but I should be more active on twitter in governance discussions and write more on governance in the industry.
  • Tardiness & Speed of execution - I think I did better at this - this proposal is on time (just barely) - but I still off more than I can chew and need to have a more realistic idea of how long things take. I want to work on planning out my week on Sunday/Monday and better estimating my work load.
  • I sometimes ‘snap’ in arguments/discussion and can do a better job of maintaining my composure. I focus too much on ‘being right’ instead of trying to find solution on what we’re working on.

Logistics & compensation

  • This proposal is intended to cover work in April 2021 and May 2021 at Level 5 in the Worker Compensation Guidelines. As with my last proposal, this will be at 90% worker commitment as I continue to write the Dose of DeFi newsletter
  • I plan to take Friday, April 16 off and will need to coordinate another organizer of the product strategy call
  • April and May Compensation
    • $7200 each month done through two xDai proposals
    • $5400 DXD each month, priced at Coingecko ATH ($523) or 10.33 DXD a month vested for 2 years with a one year cliff, to be issued once a payroll system is in place
    • 0.15% REP, to be bundled in a single transaction for several REP awards or through a new scheme to implement multiple REP awards

Previous Worker Proposals:


Quite thorough and passionate, Chris. I find it inspiring!
DXD tokenomics is of great interest to me and I wish to be a part fo the working group.

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