The “Alternative Restructuring and Refocus Process [Signal Proposal]”, henceforth called simply “Restructuring and Refocus”, has now passed with a strong 27.44% in favour and 0.00% opposed; we also saw DXD holders engage and support through chats, calls and the forum.
DXdao recognizing its problems and aiming to integrate processes to solve them is a massive step in the right direction. This thread is being prepared to propose an initial, non-contentious, batch of actions that DXdao can take RIGHT NOW, classified as "Phase 1: Low Hanging Fruit. 0xKLOM.eth will be recommending an initial batch of changes from the initial forum thread and aiming to reach a soft off-chain consensus on them through DAOtalk polls. This process is open; disagreements and alternate forum posts are encouraged if the content of this thread is not satisfactory, and the final signal proposal can be prepared and submitted by anyone in the community.
Phase 1: Low Hanging Fruit
Phase 1 represents the conditions that need expedited and are least contentious, taking a step back to assess the easiest to solve challenges, so they aren’t delayed by the governance process. Therefore, this phase should be utilized to take immediate action on subjects unlikely to require significant discussion, greatly benefiting from a quick governance process.
The governance process, including discussion and building off of the initial draft laid out in the “Restructuring and Refocus – An Alternative Proposal” thread, should take place immediately after the passage of the “Alternative Restructuring and Refocus Process” Signal Proposal. The goal should be to agree and execute Phase 1 as soon as feasibly possible, with a proposed deadline for passage by September 30th, 2022. However, DXdao should aim to pass phase 1 before this date.
The goal of this phase is to pass through some immediate changes and commitments that affect structure and budget. The below polls can be voted on by anyone in the forum, including both DXD and REP holders, until Friday the 23rd of September. If any of these polls are contentious, their discussion should be moved to Phase 2 in order to not delay the governance process on Phase 1. Any further discussions, suggestions, or changes in the comment section should be taken into account for the final signal proposal.
DXdao should aim for an on-chain proposal passage by September 30th, 2022 as indicated in the signal proposal. Provided a signal proposal hasn’t been created using the results of this forum thread (or any others) once the polls have concluded, 0xKLOM.eth will post it’s own interpretation of the signal proposal by no later than Monday, September the 26th at 2000 UTC.
Additional context for each of these actions can be found in the initial forum thread if desired.
Commitment to better event justification and expenditure, with better processes for the selection of individuals at each event. For example, focusing on Swapr team in the event of a Swapr push. Current expenditure is roughly $404,196.
$150k was chosen as an equitable target from the original restructuring proposal and should be treated as a limit that requires additional governance processes (and amendments to the budget) to exceed.
Default Audit budget of $150k, with additional spending requiring a separate proposal. Audits should be prioritized to contracts handling DXdao funds. Audits for products that are yet to attain traction will require additional justification.
Calls / Productivity
This is a case-by-case basis, but if approved, should push call leads to reduce their public weekly call length from 1h to 30m wherever possible. This does not have any effect on if calls run over their targetted time, and are expected to often. Call attendance requirements should be set by these leads as well, so contributors know precisely which calls need to be attended and which can be avoided to focus on contribution.
For the purposes of any upcoming proposal, bi-weekly calls at the current length accomplish the same goal as a reduction from 60m to 30m calls weekly.
This would not disallow contributors below level 6 outright, but rather require an on-chain vote BEFORE approving a trial period.
Important Note: Polls cannot be adjusted after responses have started collecting. It has been brought to my attention by several individuals that there is separate discussions to be had surrounding the 20-35% target, some pushing for more, some less. In light of this, this poll should instead be interpreted as:
Should DXdao deploy the DXD guild with 4% REP, and commit to further governance discussions to scale this REP percentage higher following deployment?
More guilds context here. This REP would be given to the DXD guild wherever DXdao governance contracts are deployed, primarily Mainnet and Gnosis Chain currently.
I strongly anticipate this to be a “No”, but have kept this poll for the purposes of mentioned off-chain consensus. You can read disagreements to this notion here. Current contractor expense is roughly $432,000 annually.
If not pushed through Phase 1, I anticipate this discussion to flourish in Phase 2.
The above changes, minus contractor disengagement, will have the following budget impact:
- Annual expenditure: $3,550,464 → $3,296,268
- Stablecoin Runway: 3.26 Years → 3.51 Years
If the contractor disengagement were to have consensus for Phase 1, the budget impact would instead look like:
- Annual expenditure: $3,550,464 → $2,864,268
- Stablecoin Runway: 3.26 Years → 4.05 Years
You can find more information on the budget in the original forum thread, or in @Powers’ June 17th, 2022 (Expenses) and July 25th, 2022 (Budget).