Caney Fork Worker Proposal Feb & March (2021)

Below is a scope of work to be done from 2/1 - 3/31 for Caney Fork LLC. I am powers_chris on keybase & telegram, Powers on the forum and Discord and “Chris” on calls. This proposal is two weeks late.

I’ve included a scope of work followed by some reflections on my performance.

Scope of work as segmented by Squad

  • Governance (50%)
    • Organize, set agenda and take notes for weekly governance calls, organized under #Governance tag.
    • Enable greater xDai usage for governance proposals to reduce mainnet gas costs
    • Iterate on contributor guidelines with Pulp, seek out additional HR help
    • Push forward Gov 2.0 initiative, Budget & squad documentation and DXD buyback process, seek out treasury/portfolio manager
    • Research long-term dividend or DXD value accrual process; investigate other signalling and governance improvements; explore Governance scalability efforts on Arbitrum and other chains
    • Goals and Deliverables: Gov 2.0 proposal (finally submitted), a completed DXD buyback process, all worker proposals done on xDai, job descriptions for HR & treasury/portfolio manager, inklings of a “Bonding Curve Research” working group
  • Swapr/Ecosystem and Product development (30%)
    • Orangize, set agenda and take notes for weekly Product strategy calls
    • Work with Zett 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
    • Goals and deliverables: $2m of DXdao liquidity in Swapr, Swapr on xDai and OMN token launch (goal of April 15)
  • Biz Dev/Marketing/Community (20%)
    • Work with Keenan and write ‘Month in Review’ to give updates across product, governance and community.
    • Drive “Governance 2.0” narrative with a separate blog post
    • Work with Sky on partner outreach and relationships
    • Goals and deliverables: February’s month in review by first week in March, Governance 2.0 blog post in March, enhanced DXdao visibility

Reflection on previous proposals:

I have had four previous Worker Proposals. In my last proposal, I offered some reflection on the previous proposals and also some goals and deliverables to reference.

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

  • ‘Month in Review’ and content production. Month in Review is now in its 5th month and a consistent process is starting to form with Keenan. I also think the Arbitrum announcement worked well.
  • Budget - I thought the work done with John and Pulp was helpful in planning out the next few months of DXdao expenditures. A lot of this is because of the organic growth and development of surprisingly complete Product Teams and more focus on where we are going. I think we should have a similar budget meeting at least once a quarter. I still need to submit updates to last Thursday’s presentation.
  • 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

  • Contributor guidelines, which Pulp has done the heavy lifting for, further the structure around DXdao compensation and ease the onboarding process. I say okay because it’s clear that it is just scratching the surface and a lot more work needs to be done. It’s hard to build structure and processes but we need to strike a balance, particularly as we expand. We need to make the worker proposal process less stressful (gas savings should help!). We should consider a full-time HR person to help
  • Governance 2.0 - The community is inching towards a consensus on a new governance system, with (what I feel like) is broad agreement on the major parameters. I’m hoping that final text will be approved in the coming days and a signal proposal sent by the end of the week. I think okay because it has taken longer than expected.

Somethings I did not do well

  • Tardiness & Speed of execution - things take longer than I think and I need to be better at balancing my work load. Sometimes it’s to juggle a conflicting priority - this proposal is two weeks late, in part because I wanted to wait until there was clarity on Gov 2.0 and Budget stuff, but I can’t let “Perfect be the enemy of good”, especially with internal documents meant to update and gather a response.
  • Revenue & product positioning - we do not have any meaningful revenue yet. While I don’t think that is weird, considering it’s been 8 months since the products launched and a little more than that since funds were raised, I am still disappointed that our products haven’t been able to participate in the growth of the bull market. I think Governance took up too much mindshare and I think it can be more focused on the products. Debate and discussion are good, but we/I can be more lean & focused.
  • DXdao narrative in the industry - I think DXdao could be a more prominent voice in the space, and I think I could be more active promoting it on Twitter and elsewhere.
  • I shouldn’t have taken my last worker proposal in USDC. Just realizing it would have been better for treasury diversification reasons to take salary in ETH if a contributor can stomach the risk. I was too excited about getting paid in stablecoins that I didn’t think to just keep getting paid in ETH until the treasury is fully diversified.
  • No DXD vesting contract - I said I would do it in my last worker proposal, but I actually think this might have been a good decision given gas costs…

Logistics & compensation

  • This proposal is intended to cover work in February 2021 and March 2021 at Level 5 in the Worker Compensation Guidelines. As with January, this will be at 90% worker commitment as I continue to write the Dose of DeFi newsletter.
  • February & March 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
    • 0.1667% 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:


Thanks for your honesty in your self critic. We all could use some. I might add that to my next proposal.

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Is it possible that we formalize this format for future proposals? I second @Zett’s comment on self-critic.

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This is recommended in the newly passed contributor guidelines.

If you are A Returning Worker, Write a Self-Reflection:

  • State what you did well, what you did okay, and what you need to improve on

Thanks for the thorough proposal. Great breakdown of status on projects and the self-reflection.

Regarding a couple things in your reflection:

Totally agree that we need to continue to update the Guidelines. The Contributor Guidelines function more as an employee handbook, but that can be somewhat daunting for folks to read through and fully comprehend all of our processes. We need to simplify where we can and need feedback from new workers, especially developers on how to make this process easier (@adamazad).

This is an area where I hope in the coming weeks – not months – that we can really execute a marketing / communications strategy. This includes Twitter, but also want to really suss out medium posts that we can all do on our products and ideas regarding governance, etc. Looking forward to working on this with everyone.