Caney Fork Worker Proposal Oct/Nov 2022

Below is a scope of work to be done from October 1, 2022 - November 30, 2022 for Caney Fork LLC. I am powers_chris on keybase & telegram, Powers on the forum and Discord and “Chris” on calls. “Powers” is also completely acceptable :-x. Reflections on Caney Fork’s Aug/Sep proposal can be found here.

The last few months have been tumultuous for crypto, the global macro environment and for DXdao itself. I’ve been encouraged by the resiliency of the DXdao community to weather this storm. And while the process can be stressful, it’s important to remember that this is a radical experiment in coordination. You shouldn’t feel like you have all the answers.

Caney Fork’s top priority over this worker period is the DXD Token WG as well as resolving issues with DXD liquidity and the DXD buyback. I also expect to devote considerable time to working on the Phase 2 of the Alternative Restructuring and Refocus Process. Additionally, during this proposal I will be in Colombia and representing DXdao there!

Governance 60%:

  • Work with @dlabs to organize weekly governance calls, organized under #Governance tag.
  • Facilitate DXD Buyback Program execution along with dLabs. Post tri-weekly DXD volume updates
  • Represent DXdao in ENS governance. Provide updates to DXdao community on ENS DAO happenings and communicate DXdao’s priorities to ENS DAO.
  • Lead DXD Token WG. Find consensus on a new model and get approval from REP & DXD holders.
  • Explore treasury deployment strategies with Decentral Labs. Meet with potential partners and develop a plan to deploy more of the treasury to extract yield.
  • Work with @KeenanL on Phase 2 of the Alternative Restructuring and Refocus Process, particularly on budgeting, accountability structures and enhancing DXdao’s governance process.
  • Goals and Deliverables: Monthly ENS update by Oct 5, DXD buyback order execution plan by Oct 7, Accountability Structure/Budget post by October 29, Treasury deployment strategy post by Nov. 15.

DXvoice (20%)

  • Write July and August month in review along with Keenan and Wayne
  • Operation Decentralization!
  • Explore ways to expand DXdao’s brand in the broader governance space. Brainstorm articles/topics to be worked on.

ContributorX (10%)

  • Work with @Melanie @allyq on upgrading worker proposal process
  • Work on additional documentation for contributors and outside entities to understand DXdao better

Swapr (10%)

  • Contribute to conversation on the future direction of Swapr
  • Research long-term solutions to upgrading Swapr’s backend, as well as position Swapr as a DEX optimized for
  • Goals: Swapr, DAOs and sovereign treasury management post by Nov 15

Logistics and Compensation

  • Work period: October 1, 2022 - November 30, 2022 this will be at 90% worker commitment as I write the Dose of DeFi newsletter.
  • Contributor Level: 8 as outlined in the DXdao Pay Structure Update - December 2021
  • October compensation
    • $8,100 in USDC/Dai
    • $8,550 in DXD, using 30 day average for DXD price or minimum $523, vested for 3 years with one year cliff
    • 0.1667% REP
  • November compensation
    • $8,100 in USDC/Dai
    • $8,550 in DXD, using 30 day average for DXD price or minimum $523, vested for 3 years with one year cliff
    • 0.1667% REP





We talked about this on the developer resource planning call this week. We agreed that this research should be led by a technical person with solidity experience and maybe @luzzifoss will be doing this. So whoever ends up working on this I think you can provide research material and review the research results?

Hey @AugustoL , @luzzifoss and I have already been sharing notes on Swapr’s backend for the last month or so and I look forward to working with him further on researching this.

The decision on what (and whether) to upgrade Swapr’s backend is not just a technical decision - it is something that needs consensus amongst SWPR token holders (and therefore DXdao).

And it is just as much a market positioning decision - what will users want, what is Swapr’s positioning against all the other DEX’s out there? I think our previous product decisions have not fully taken into account how a technical product will land in the market.

I have a decade of experience doing deep research in traditional finance and have written a DeFi research newsletter for the last 3.5 years, so I think i have a valuable perspective on where the DeFi market will go and how Swapr can be positioned (hint: DAOs & sovereign treasury management)

I also think it’s very important that this research is communicated to the DXdao community, especially DXD holders, so that an informed decision can be made. In working with @luzzifoss, I imagine my focus will be on communicating the research to a broader audience (read: writing).

1 Like

Great to see that the ENS tokens I helped DXdao receive are being put to use, but I guess I have to wonder whether it’s necessary for a level 8 contributor to have this be one of their chief responsibilities, especially when there are many other ENS delegates available.

Regarding Swapr, 25-30% of your time from Feb-July of ’21 was devoted to “Swapr/Ecosystem and Product development” Could you speak to what you accomplished with this time over that period? I couldn’t find much in your recaps beyond contributing to a few articles. Also, the Swapr Q4 plan actually calls for bringing on a researcher . . . has this allocation of your time been coordinated with @Zett and @0xVenky?

It makes sense to me that you and Dave should be working on treasury management and budget, but I find your posts in the Dlabs King of Pow ETH thread to be indicative of a lack of communication, planning, and responsibility on your part in regards to the treasury.

Overall, it seems like you are bit spread out here. For a level 8 contributor, I wonder if that makes sense. Would be good to hear from DXvoice and ContirbutorX leaders @KeenanL and @melanie if they feel the spend here is justified.

Hi John, none of the other ENS delegates can act has a proxy for DXdao or fully advocate on behalf of DXdao in ENS DAO unless they took on DXdao as a sole delegator. This delegation has been warmly received within DXdao and ENS DAO. I look forward to developing deeper ties and advocating for ENS builders.

While important, I would not describe it as a “chief responsibility”. At the top of every proposal, I list the most important things in the worker period. For this worker proposal, that is leading the DXD Token WG and facilitating the DXD buyback/liquidity, as well as working on the Alternative Restructuring proposal.

Re: Swapr, you can check my proposals and reflections for Feb ’21 - July ’21 in the links above. To summarize some of my accomplishments briefly:

Also, during that time I was leading the Friday product strategy call, which focused heavily on Swapr.

It would be great to have a full-time researcher for Swapr. I don’t imagine he/she will be onboarded in the next 6 weeks though, and I don’t think the conversation on the future of Swapr can wait. Venky has already started a Swapr research keybase chat to dive further. I think there should be many different inputs to this conversation, and I plan to devote some time over this period to fleshing out some thoughts I had into a forum post (see: “Swapr, DAOs and sovereign treasury management post by Nov 15”).

I’ve previously spoken with Keenan about reducing my time on the month in review and other writing for DXvoice. This is still a work in progress as I’ve already written the September month in review this week as Keenan/Wayne were traveling. It would be great to have more time for other priorities in the future.

1 Like

Below is a reflection on Caney Fork’s October and November worker proposal and a payment request for the second half. The first half of this proposal passed on-chain here. Caney Fork’s upcoming worker proposal can be found here.

Note: This will be submitted on mainnet as I will also be doing a REP sync. It is claiming 3,653 REP for November from this proposal, as well as 3,653 REP earned in October and 3,631 REP earned in September. In total, 10,937 REP to be minted, in addition to the $8,100 USDC payment.

What I did well:

  • Leading the DXD Token Working Group. The proposal to approve the new model was submitted last week, and if passed, would represent a major shift in how DXdao operates. I led the weekly calls and crafted the proposal itself. This took governance attention and resources but I think a worthwhile investment to find a resolution. I’m hopeful this new model will create a better incentive structure for DXdao expenses and engage new DXD holders.
  • Phase 2 restructuring and Phase 3 implementation. In Bogota, I presented three new pillars of DXdao governance - Six month budgetary cycles, priorities board and guild councils. Ultimately, these were all approved in the Phase 2 proposal. So far, I created the v1 budgetary process and submitted an Operations Guild Budget for review.
  • ENS DAO delegation - this period was the first full worker proposal with Caney Fork’s ENS delegation. I got the chance to meet many of the ENS DAO community in person in Bogota along with a couple other DXdao contributors. In addition to posting two This Month in ENS DAO, I was also an active follower of the ENS Endaoment vote (ultimately voting for Karpatkey) and voted in ENS small grants
  • Bogota! It was a great experience. I posted my reflections here.

What I did okay on

  • DXD buyback execution. This went okay because we did not do that many USD purchases of DXD. Attention has shifted towards the price floor implementation in the new DXD token model
  • Expenses! - I provided an extensive update on DXdao expenses a few weeks ago. This is now in a familiar format but still lags a few months behind because of late proposals. This data gathering will change in the shift to guild budgets. I hope to make these updates quarterly.

What i did not do well on

  • Treasury deployment strategies did not materialize. Progress has been made with Mimic but it’s been slow to do more on the treasury front. This will exacerbate further as more of Dave’s time goes to Treasury.
  • SWPR governance - we have been unable to find consensus on a strategy forward for SWPR emissions. I submitted a snapshot but the winning option was None of the above. I don’t think we’ve had the governance bandwidth to grow Swapr governance.
  • Swapr - I put in this proposal that I would write a post on Swapr & DAOs. I did not get to that. I have contributed to the Swapr conversation but have not been able to provide value on a new direction.
  • Vibes in the DAO - the bear market (and perhaps actual winter in the Northern hemisphere) is taking its toll on contributors and the DXdao community. Many are burnt out after two years of exhaustive work while the DAO shifts in a new direction. To all I would say: this too shall pass. It’s okay to feel frustrated and disappointed. Bear markets are tough! But by definition they do not last forever. Instead of doom and gloom, we should embrace the contraction and the slow pace of the market. Fewer distractions means deeper focus and allowing for independent research or more time-intensive activities.

November compensation (90% at Level 8)

  • $8,100 in USDC/Dai
  • $8,550 in DXD, using 30 day average for DXD price or minimum $523, vested for 3 years with one year cliff
  • 0.1667% REP (3,653 REP)