SkyMine Labs - Contributor Proposal 9/22 to 10/22

[sky]

I will be submitting a proposal for current on-going and future contributions to DXdao started Sep 1, 2022 and finishing Oct 31, 2022. This proposal extends the role as a contributor into September and October.

I plan to focus about half my time on the DXbiz Squad revolving around business development opportunities, introduction of opportunities for DXdao and originating and growing DXdao awareness and product awareness while contributing half my time to other initiatives as well. I will also focus on driving initiatives forward that I think are important for DXdao, even if they sit outside of my main focus.

I estimate my contribution focus to be 50% DXbiz, 10% DXvoice, 10% Governance, 10% DXventures, 20% Other/ContributorX/Product/Testing/Strategy.

What I plan to focus on and be responsible for:

DXbiz: I have ongoing responsibilities as the DXbiz Squad leader, which can be seen regularly in past proposals, mainly being the coordination of DXdao’s opportunities while acting as a main internal point of contact for all things related to these opportunities. I also represent DXdao and its ecosystem at many Ethereum events and in relationships with other DAOs, funds, projects, and partners. Other related responsibilities include:

• Coordinate the organization of and tracking of DXbiz opportunities. Checking in with points of contact and status for each opportunity
• Focus on opportunities connecting DXdao and it’s products to other communities
• Provide knowledge to Squads on the related product landscapes and strategies to take
• Initiating, building and maintaining relationships and discussions on behalf of DXdao with external parties in the ecosystem
• Partnerships: Develop, grow and filter partnership opportunities for DXdao
• Bring new ideas from outside learnings to help DXdao expand its strategies across different areas.
• Develop, write and publish more articles about the unique and important things DXdao is leading with (creating thought leadership articles)
• Deliver reports of actions taken and opportunity progress to the DXdao community
• Deliver the ongoing implementation of the weekly DXbiz Huddle (and channel) where we strategize and prioritize ongoing and future opportunities.
• Coordinating with the product teams of DXgov, Swapr and Carrot around DXbiz opportunities in order to support the ongoing goals and grow awareness of each.

As DXdao and its products mature and evolve, we will seek out new, larger opportunities that weren’t possible previously. This will hopefully lead to some significant achievements for DXdao.

I plan to be a large part of DXdao’s presence in Colombia during Devcon week and surrounding days in what is a very strategic period for DXdao. This will include DXdao’s Infinite Hackathon, The DAOist Bogota, Schelling Point, and Devcon itself.

The DXdao Retreat is also VERY important for DXdao’s future. I plan to prepare a detailed report with the “Review and Moving Forward Outlook” for the DXbiz Squad.

I also have a goal to improve communication channels and open feedback loop between the DXbiz Squad and:

• DXdao Squads
• DXdao community
• Wider DAO community
• Wider Ethereum community

The DXbiz Squad plans to clearly communicate the highlights and recaps from the past and also outline the goals moving forward. There will be an open chance for the community to provide input and ideas around the direction.

I also plan to help prepare the necessary materials for the other DX Squads I contribute to.

DXvoice: I am also a core member of the DXvoice squad, where I participate and support many of the initiatives around community, recruiting, marketing, writing articles, event, merch, design input, representing DXdao for media opportunities and at events.

Governance: Leading by example, I will continue to be a highly active governance participant in DXdao, including on-chain actions (review, staking, voting) and the processes and discussions that allow DXdao to remain secure and effective, proper treasury management, open discussions, and standing up for core values. I aim to bring extra initiative to the governance processes. I also aim to push forward the future of DXdao governance by liaising with the DXgov Squad. One of the key values I can bring is being aware of the needs of DXdao and other DAOs.

DXventures: I think DXventures has a larger spot in the future of DXdao. I have ongoing responsibilities as the organizer of DXventures, including filtering, presenting, organizing and driving the DXventures opportunities that DXdao has. Completing the tasks to bring the most important opportunities to completion.

DXventures opportunities have slowed recently for a number of reasons but I think this initiative should have more focus. With the creation of the “Incubation Grant” we developed for Nimi, I think this model could be explored with more ideas, teams and projects. I think DXdao needs to figure out ways to “Expand the Opportunity Field’'.

There are ways for more opportunities to come through the DXdao ecosystem. I would say this strategy falls into the exploration and research area of DXdao. I think that every contributor to DXdao, and also community members, should have an opportunity to spend time exploring, researching and bringing new ideas to DXdao. Up until now, this is not something that has been a part of most contributor’s mandates, but I think it should be. I will plan to propose some ideas and a framework around this.

Other/ContributorX/Product/Testing/Strategy: I include this category to account for all other value I plan to contribute to DXdao as a core contributor. This includes actions towards Contributor Experience, product usage, testing reporting and improvements, strategy around DXdao’s products and initiatives, helping to improve Swapr and its usage, health and awareness. I will also be spending time helping to organize and coordinate the events that DXdao participates in.

Swapr Growth Cross-Squad: We are starting a Swapr Growth cross-squad. With better user statistics and more focused prioritization and strategy, we plan to set and seek goals for Swapr, adjusting live as we go forward.

Infinite Hackathon: I plan to increase attention paid towards Infinite Hackathon as we near the event. It is now go-time and focus and communication are key to execution.

DXD Token WG: I will aim to participate and add value to the DXD Token Working Group.

Carrot v1: I am prepared to focus more on the promotion of Carrot as v1 comes alive. I have been actively exploring and inquiring around the potential for a Carrot Campaign in Bogota.

Regarding DXdao’s plans for moving forward:
I have a few important goals I would like to explore bringing into the plan:

• Bring better facilitation into the DXdao ecosystem. It may be very valuable to have a 3rd party coach/facilitator, who has deep knowledge of the space and can also learn the intricacies of DXdao, participate in DXdao coordination.
• Strengthen the understanding of interdependence between Squads within DXdao. No individual squad can succeed on its own. Each squad relies on each other for survival and success.
• If and when strategies are determined, I will work towards implementation and achieving the goals.

Proposal Summary:

I am identifying as a Level 8 contributor, and will be applying a 85% of full commitment percentage for September 2022 (I was off the first couple days of September) and 85% of full commitment for October 2022 due to participation in outside commitments, personal matters, travel and conferences.

Summary of compensation would be:

• 7,650 xDAI (9,000 x 85% plus 9,000 x 85% = 15,300) to be paid when the proposal gets approved and the balance (7,650 xDAI) on 10/31/2022 when the contribution agreement finishes.
• Approval for: 16,150 USD (9,500 x 85% plus 9,500 x 85% = 16,150) to be paid in DXD in a vesting contract continuously for three years with a one year cliff when the contribution agreement finishes. The vesting contract would be created and funded in the future after 10/31/2022 and use 09/01/2022 as the starting date of the vesting.
• 0.2833% mainnet REP (0.16666% x 85% = 0.14166% plus 0.16666% x 85% = 0.14166% = 0.2833%) to be earned on completion at 10/31/2022 - (equivalent # of REP in xDXdao will also be requested)

[hughesconnor]

I’d like to respectfully signal a significant disagreement with the Level you’ve identified as appropriate in this worker proposal, and I think it has gone unchecked for too long.

A Level 8 contributor has to be seen as ‘best-in-field’ in their area (“1. I am considered to be among the best in their field and have extensive experience with Web3/DeFi/DAOs.” as per the Contributor guidelines), and somebody that would be a shoe-in as a leading figure at any other top DeFi/web3 project. I’m sorry to say that I don’t think you’re at that level, Sky. I’ve worked with a number of very well regarded biz dev teams during my time in DeFi (Frax, Redacted, Dopex), all with quite publicly enamoured business development figures being paid much less than a DXdao Level 8 contributor. For example, Redacted’s DAO expenses report shows a Partnerships (most closely related to biz dev) spend of $21,000 per month, for a team of 3 people. You are proposing a pro-rata total payment of 88% of this amount for just yourself. Redacted’s team have secured exclusive partnerships with Aura, Balancer, Idle, Saddle, and Tokemak, as their repeat, exclusive bribe market of choice with Hidden Hand. They have also secured co-marketing for their other product, Pirex, with GMX, Dopex, and Convex. These business development relationships are the bedrock of their net-profitable protocol (no emissions on any of their products).

I don’t see the same level of achievement here, I’m afraid.

I have heard the general counter from yourself that the products aren’t there to work with. I’d firstly argue that if the products aren’t there to work with, then we absolutely don’t need a $18.5k/mo talent wasted on waiting for products, we need more product people. I’d also argue, however, that DXdao has one of the most attractive products in the space: A huge treasury in wholly liquid assets. If you’re unable to work with that product as it seems you have been, then I’m afraid that I have no choice but to signal a vote of no confidence here. I also quote your words from the retreat ‘I don’t see DXdao as valued negatively, even though the market capitalization is lower than the treasury’, and must comment that this is just an unwillingness to work with the facts. The market is expecting the DAO to irresponsibly use the treasury, it’s that simple, and I think a Level 8 contributor being unwilling to accept this fact and work with it, and rather just pretend it’s not the case, is a contributory factor to its persistence.

I’d like to highlight some specifics related to your proposal.

@sky

I estimate my contribution focus to be 50% DXbiz, 10% DXvoice, 10% Governance, 10% DXventures, 20% Other/ContributorX/Product/Testing/Strategy.

This is all quite vague. If you’re a Level 8 contributor, best in your field, then why are you spread so thin? Surely the DAO benefits most from your time being spent in your field of extreme expertise. Every organization needs a jack-of-all-trades, but again I am afraid that I don’t see this as you, nor so I see that person as a Level 8 contributor. 20 whole percent of your time on what amounts to miscellaneous is also rather worrying.

@sky

DXbiz:

None of these things are measurable deliverables. We’ve had issues in the past discussing what’s airy fairy waffle and what’s a measurable data point, but I don’t think the DAO is getting good value at all if your responsibilities here amount to something that can be copied and pasted month to month, with no ability for anyone to say ‘actually, you didn’t meet this bullet point’. It’s all far too vague for $18.5k/mo. What DXbiz opportunities have you sourced or maintained over the last two months, or year, that have provided revenue or likely future revenue to DXdao?

@sky

Provide knowledge to Squads on the related product landscapes and strategies to take

I’d argue that the retreat highlighted that this area of your role has not been carried out to satisfaction, or at all. Squads felt that you provided little to no direction of where their products should be placed in the wider DeFi and web3 ecosystems. I don’t believe you are technically proficient enough in this field to have a grasp on the DeFi ecosystem, its products, and ideation of ways that DXdao’s products can create synergies with other projects and products. Regardless, this definitely does not signal Level 8 performance for the main function of 50% of your proposal by time.

@sky

• Initiating, building and maintaining relationships and discussions on behalf of DXdao with external parties in the ecosystem
• Partnerships: Develop, grow and filter partnership opportunities for DXdao

Are you able to cite the external parties that you have closed deals/partnerships with in the last two months, or the last year, that are concretely value-add to DXdao, please?

I’d just also note that out of the 134 DeFi and web3 Discord servers I’m in, we share 1: DXdao. Every other biz dev person I’ve worked with across projects, let alone a ‘best-in-field’, is constantly scouring for opportunities across different Discord servers, based on their reputation, relationships, and presence across important servers, and keeping up with the goings on at different influential projects. How can you keep on top of DeFi to an adequate level to advise internally on product direction and PMF without paying any attention at all to what’s going on in DeFi? Let alone effectively undertaking outreach with zero presence or reputation in DeFi related servers.

@sky

Develop, write and publish more articles about the unique and important things DXdao is leading with (creating thought leadership articles)

Please cite these. DXdao Month in Review is written by Chris, Keenan, and Wayne, no? Regardless, this is not something that a ‘best in field business developer’ should be doing, except for in your own time if you wish.

@sky

Deliver reports of actions taken and opportunity progress to the DXdao community

Please cite these. Regardless, this is not something that a ‘best in field business developer’ should be doing, except for in your own time if you wish. This could and should be carried out by a more junior role; I’ve never seen a C suite exec (which is essentially what you’re being paid to operate as) carrying out this kind of task.

@sky

Coordinating with the product teams of DXgov, Swapr and Carrot around DXbiz opportunities in order to support the ongoing goals and grow awareness of each.

I don’t want to bring internal politics to the fore, but I’d encourage DXgov, Swapr, Carrot teams to reflect on whether this has been adequately performed given the results displayed by other projects’ biz dev teams for comparable financial cost.

@sky

I also have a goal to improve communication channels and open feedback loop between the DXbiz Squad and:

• DXdao Squads
• DXdao community
• Wider DAO community
• Wider Ethereum community

As either the largest or second largest holder of DXD, I haven’t felt that you’ve made any effort to bridge this gap, either in a professional capacity or not and this, like much of these responsibilities, feels like filler - I’ve felt this attempt to improve communications has entirely come from individual contributors reaching out to me and other DXD holders on Discord in their free time to schedule calls and catch ups, (in large part technical contributors, actually, but not limited to). Further, given DXdao’s continued lack of presence in the wider Ethereum community, I don’t feel like you have achieved these goals in the slightest.

@sky

The DXbiz Squad plans to clearly communicate the highlights and recaps from the past and also outline the goals moving forward.

Isn’t communicating highlights and recaps a DXvoice responsibility? Regardless, I think given the feedback at the retreat, many other squads are unsure what your goals moving forward are, let alone DXD holders and the wider community - they certainly aren’t laid out in this post.

@sky

I also plan to help prepare the necessary materials for the other DX Squads I contribute to.

‘the necessary materials’ is unbelievably vague. What materials did this amount to?

@sky

I am also a core member of the DXvoice squad

How can you be a core member with a 10% time allocation? Regardless, why are we allocating a ‘best in field’ business development lead to anything other than biz dev?

@sky

Governance

I’m not sure whether allocating $1850/mo is good value for the DAO here. I’m struggling to find this allocation of time in many other contributors’ proposals, especially technical roles; it seems people just do it as part of being a member of the DAO? I certainly don’t expect $1850/mo for doing all of these things, nor do I think it’s reasonable.

@sky

processes and discussions that allow DXdao to remain secure and effective, proper treasury management, open discussions, and standing up for core values

This is again very vague and unable to be nailed down to any performance measurables. This is a recurrent problem in your proposals and input.

@sky

DXventures

Have we got any performance metrics on investments to date?

I also continue to question why we invested in a metaverse project, and also how DXventures DD process didn’t pick up on the fact we were investing into a token that our DAO infrastructure didn’t allow us to stake. How much (more) value have we lost via dilution of holding these unstaked tokens?

@sky

With the creation of the “Incubation Grant” we developed for Nimi

How much of this was your ideation, and how much was the Nimi team’s suggestion of structure? In fact, where even is the concrete ‘Incubation Model’ that you have created, on paper? Are you able to comment on why, if this was a large part of your responsibilities, DXventures hasn’t kept on top of the deal structure such that the Nimi team itself, DXdao contributors, and DXD holders, are all so unclear on responsibilities from both sides that there was a product strategy call yesterday to have to hash out the details?

@sky

Swapr Growth Cross-Squad: We are starting a Swapr Growth cross-squad.

@sky

we plan to set and seek goals for Swapr, adjusting live as we go forward.

How has a Level 8 business development lead let DXdao’s flagship product that was ideated in May 2020 go unchecked on a business development front for so long? ‘We plan to set and seek goals’, why haven’t these been in place for the last 2+ yrs?

@sky

Infinite Hackathon: I plan to increase attention paid towards Infinite Hackathon as we near the event. It is now go-time and focus and communication are key to execution.

What does this actually amount to other than showing up? I don’t see this in many other contributors’ proposals, technical contributors included, who were more pivotal and value-add to the Hackathon.

@sky

DXD Token WG: I will aim to participate and add value to the DXD Token Working Group.

My impression as a fellow attendee is that you have attended the working group calls, which is great, but seem to be the only person other than @Powers (who is co-ordinating and puts together the structure and materials) to fill out your contributor proposal with it and essentially ask to be paid directly for attendance.

@sky

Carrot v1: I am prepared to focus more on the promotion of Carrot as v1 comes alive. I have been actively exploring and inquiring around the potential for a Carrot Campaign in Bogota.

How did this go? How many external projects are concretely signed up to use Carrot?

@sky

Bring better facilitation into the DXdao ecosystem. It may be very valuable to have a 3rd party coach/facilitator,

Facilitating a large payment to a third party rather than being able to accomplish better communication internally is not a value add. I’ve had a lot of feedback personally that these ‘facilitators’ were unhelpful at best, and a desperate attempt to be a Silicon Valley corp in reality. As I’ve mentioned with your DXventures highlights, handing over money is not an achievement.

@sky

Strengthen the understanding of interdependence between Squads within DXdao.

What does this actually mean? What are the actions here? It’s been quite easy for you to subjectively impose ‘success’ with these vague statements over time. Conversely, a technical contributor would be torn to shreds with a proposal that was as vague as ‘Improve Swapr’.

@sky

If and when strategies are determined, I will work towards implementation and achieving the goals.

‘the goals’? Again, unbelievably vague and unmeasurable.

Finally, I’d like to comment that I truly commend our technical contributors for enduring comments such as ‘Why has the DXgov team let this vulnerability slip through the gaps when all you have to do is match up X variables to X fields’ from someone who has never written a line of code in his life. All I can imagine you have done in this capacity is rub our already dwindling developer base up the wrong way with such ignorant comments. My view is that a Level 8 contributor who seemingly has no willingness to get up to speed on a technical level, and has some serious shortcomings on the business development front as well, should not be pointing blame at developers, even after being told that it’s not that simple.

I am unimpressed, and disappointed, that you have been left unchecked at Level 8 at $18,500/mo for any length of time. I empathize with the complex dynamics between contributors internally, and I have no REP to vote with, but I would encourage an open discussion between all stakeholders here without fear of repercussions.

My recommendation is that business development moves to an individual squad level given that each squad has communicated their view that the overarching DXbiz structure is not working for them, and that they are disappointed with the performance to date. Further, the move to squad based budgets makes this a much more natural structure. I recommend that Sky steps down from his role here that he is not fulfilling to a Level 8 standard, and if he wishes to apply to individual squad leads for a portion of their squad budget for business development at Level 8 comp, then I’d be in full support of these squad leads to make that independent decision with their respective budgets and responsibilities to show results to the DAO. However, it is clear to me that the DAO is not getting anywhere close to $222k a year of value from this particular relationship structure.

DXdao squads across the board are rightly embracing increased accountability, which comes with healthy risk, and welcoming the new environment of having to justify their expense to the DAO with measurable results. You should have it no different to other contributors in this regard, and having to compete with external talent for each squad’s limited resources, and liaise with them directly over your level of compensation, is a fair and sensible measure, rather than the current structure of coasting as your own source of accountability within the DAO centrally.

[0xSpicySoup]

Pretty in-depth breakdown above from @hughesconnor.

$222,000 a year does seem very excessive for a bizdev role versus the what seems to be the level of activity and results from our bizdev operations.

I’m pretty sympathetic to the fact that we don’t quite have a mature enough product suite that even the best performing bizdev lead would struggle to deliver stellar results, though in that sense it does seem like we’re overspending on bizdev relative to our product development and should scale back until we have a more mature suite.

Overall though I don’t want to take a firm position in favour or against any level change until we hear some feedback / defense. Hope we can in the coming days.

[sky]

I wanted to try to address many of the concerns that you have and, where possible, provide potential solutions. Personally, I don’t think going back and forth in the forum is effective and has proven to be a negative and hurtful tactic many times so far, but to not disrespect you or the hard work and time you put in in any way, I can add my response here.

Your opinions are interesting to hear and bring an alternative/outside perspective. Others may have differing opinions.

On the Process and Timing of Proposals

This post is to kick-off a contributor proposal period:

SkyMine Labs - Contributor Proposal 9/22 to 10/22

I will be submitting a proposal for current on-going and future contributions to DXdao started Sep 1, 2022 and finishing Oct 31, 2022. This proposal extends the role as a contributor into September and October. I plan to focus about half my time on the DXbiz Squad revolving around business development opportunities, introduction of opportunities for DXdao and originating and growing DXdao awareness and product awareness while contributing half my time to other initiatives as well. I will also f…

It’s a normal and more effective process to adjust based on feedback when starting the period.

The kickoff proposal was passed here:

https://develop.dxvote.dev/#/xdai/proposal/0xc4a252edf046a17f21294cfd93cc6dbebfc6d7f119bed02c9a229eee2a48098d

Your feedback and feedback gathered from others could be included in potential future proposals.

On DXbiz Squad’s Value Contributed to DXdao

I disagree that DXbiz has not contributed a lot of value to DXdao.

This is an internal detailed summary of just some of DXbiz’s contributions over the past year: DXbiz Update - Contributions Over the Past Year - HackMD

Yes, it is very hard to put a USD value on something like this. However, if we compare all of it against some type of marketing spend metrics or the value of token rewards attracted to Swapr (or other metrics), I think its value holds up.

Potential Solution:
We could work on spending more time putting a USD value on it.

On $222k per year

I want to share some notes about the incorrect payment logic being used here that is creating a false narrative (and leading to other people using the same numbers).

All three forum posters are referencing $222k per year. I think it’s very important to have an appropriate perspective especially for younger contributors to understand.

Using the same $222,000 a year reference is way off from actuals.

In 2022 so far, I have been actually paid 67,950 xDAI from DXdao so far, a long way from $222,000! At this rate, even the full year would be only 90,900 xDAI.

If you account for a 55% focus on DXbiz, that is $37,373 this year (or $49,995 for the year at that rate) towards DXbiz.

Throwing around that $222,000 number is incorrect and irresponsible. Some people call it a “bonus”, others call it “pay”, but either way it’s not paying people’s bills.

I think it would be great to find other people in the wider web3 space (with even basic knowledge of web3, much less DAOs, DeFi, DXdao, etc.) who are willing to contribute to DXdao and deliver this type of contribution in 2022 for $68k. We had one and unfortunately, he left/was forced out/it wasn’t worth the pay.

As you know, DXD is locked up for 3 years with a one year cliff (which we used to get at a terrible basis and it’s still not at market so it’s not even the incorrectly stated USD amount).

As some people smartly do, one should likely treat locked up DXD (that you DON’T hold) as zero for a long time. There is also a massive social pressure to never sell your DXD even to pay bills. There’s also a risk it could end up being worth nothing.

To base much of the post off getting paid $222,000 as an undeserved Level 8 when it’s not even close to correct is misleading.

If you think I should adjust my level, and others do as well, please reach out. I am happy to compare value contributed to DXdao to others.

I am now thinking that DXdao should be paying higher USD-based amounts to contributors.

I also think some would say that us DXD holders would be better off not paying out DXD at current values, no?

Possible Solution:
Adjust things to pay out less DXD.

On Spending Time Across Squads

As stated at the kickoff, I estimate my contribution focus this period to be 50% DXbiz, 10% DXvoice, 10% Governance, 10% DXventures, 20% Other/ContributorX/Product/Testing/Strategy.

There are some people that do many different things for DXdao, and have been doing many different things for DXdao for a very long time. Some of this gets lost in the proposal process.

I disagree that it is not important to have senior contributors that are involved in many/all of the areas that make up DXdao.

I could suggest speaking with more DXdao contributors that better understand the workings of DXdao.

There is a reason why we don’t have people dedicated full-time to DXbiz as of right now. You’ve laid it out yourself. So it also makes sense that my time is not 100% towards DXbiz in line with your argument.

Possible Solution:
We could try seeing how DXdao works with people only being able to contribute to a single squad for a quarter or two and see how that goes.

On Discord servers:

Personally, I think it’s quite odd to judge someone by Discord servers, but:

I looked because I figured something must be wrong. I am also in over 100 Discord servers and our only overlap is DXdao. I looked and it appears you aren’t in so many servers that are super important to DXdao. For example:
Arbitrum
GnosisDAO
CoW
SAFE
Gnosis Chain
Gnosis Guild
Agave
ETH Denver
Pocket Network
HOPR
Hats
Double
Tally Ho
Atlantis World
GitPOAP
DAOist
Stake DAO
Bankless DAO
Bankless Inner Circle
Swarm
Uniswap
Augur
Aave
Compound

You are not even in the Infinite and Nimi servers.

How could this be? Why is this?

My guess is that a set of Discords like yours fits a separate narrow space that DXdao hasn’t been operating in and probably isn’t planning to any time soon:

Pirex
GMX
Dopex
Convex
Frax
Redacted

DXdao doesn’t even want to hold USDT.

To compare, how many of these projects presented their DAO (are they even DAOs?) and their Defi product at the best DAO event of the year? Or at an event in Bogota?

I’m not saying that you shouldn’t hang out in these communities. But I would love to learn how you see DXdao leveraging those communities. There are two parts to interacting with those communities. There’s yield seeking and there’s building tools that yield seek.

As for yield seeking, you do know DXdao is on the quite conservative side of things. This conservatism actually stems mostly from some of the people who helped get DXdao going. And with some effort, DXdao has explored a bit, but as you know is doing just a bit of yield seeking.

As for building tools that yield seek, it doesn’t appear DXdao currently has the protocol level resources and knowledge currently to build these yield seekers and compete in this space.

One of the ideas of expanding the opportunity field would be to find protocol teams that have that knowledge, are already creating and support them (and use our tech and knowledge to tie it into our system).

(We are talking to a more DAO friendly Aave-looking fork that could be an interesting opportunity.)

I think maybe one of the big differences here could be where focus has been. You can very transparently see where focus has been by looking at people’s detailed proposals.

If a person is DeFi degening all day long, this could be one of the reasons a person has his focus. At this point, I am not aware of a good opportunity for DXdao down at this further end of the spectrum of DeFi. With all the Discords people are in, if anyone sees an opportunity, it would be great for you to share it with the DXdao community.

If anyone has ideas or goals for scoping out a DXlend product/protocol, I’m sure people would be interested in hearing the idea.

Possible solution:
Propose how DXdao could participate in this proposed DeFi space and why and, if desired, find an expert in that vertical (and replace or add to current contributors).

On DXdao Actually Doing Things

I am not doing DXbiz full-time.

You mention a few times that “more junior” people should be doing certain things. Unfortunately, DXdao does not have “more junior” contributors that can take care of all the things “more senior” people shouldn’t be doing.

As people say, DXdao runs on initiative. Nothing happens unless someone takes on the responsibility. It’s hard to count the number of new ideas that wouldn’t have happened unless I took the initiative. This even includes things like discovering and sharing problems with products. Which is an example of things that you might say shouldn’t be the responsibility of a senior DXbiz contributor.

I think these things are critical.

Possible solution:
Get more contributors in DXdao taking the initiative to do more of these things.

On DXventures

For those that haven’t been following DXventures, this is a helpful place to start:

DXventures Update

The goal of this post is to provide an update on DXventures and a summary of its activities since its formation. The idea for DXventures started to form in early 2021. You can find an early post here: ​​​Idea for discussion: DXventures DXventures was ratified into existence by DXdao in March 2021: Signal Proposal: Support for DXventures with the goal to to seek out and support/invest in promising projects that are solving the pain points of decentralized organizations. The problems that DXdao …

Obviously, there is more progress in the past few months as well. Projects are always moving along. We are not doing public updates from them. Keep in mind these are “grant and grant investments”. Nimi one was the first “incubation grant”. And keep in mind that DXventures IS DXdao.

DXventures is NOT operating separately or outside of DXdao governance. And currently doesn’t have a plan to. There was an idea for Idea: Plan for the Expansion and Maturation of DXventures last year, but it didn’t get much momentum or consensus or excitement to move forward with that path.

DXdao even trying to “incubate” or “help move along” Nimi is the first time for DXdao. If comparing it to a “professional incubator” it likely looks quite a bit different.

Clearly, if DXdao was going to take on an outside (versus something created from within) project, there would likely be more of a process that needs to be sorted out. Maybe now DXdao is learning what would need to be in place via this first internal trial.

If anyone has any bigger/more concrete ideas, they can always share or propose these to the DAO.

While DXdao is refocusing, it could be that DXventures could expand and have a larger spot in the future path of DXdao.

Possible solution:
DXdao needs to determine how DXventures fits into the future DXdao. There have already been some ideas shared where it has a larger part in DXdao.

I don’t think it is fair to say that DXdao shouldn’t have supported Atlantis World and have a presence there. With DXdao trying to grow the awareness and usage of its DeFi and DAO products, becoming a part of this project where other well-known DeFi and DAO projects were also participating is a good opportunity. The Carrot portion of that deal was also ground breaking and led to a bunch of awareness.

Similarly, we could look back and say our Copenhagen Flames deal didn’t produce what we hoped for. Part of it has been timing.

I also don’t think supporting Opolis is anywhere close to a failure because DXdao “can’t” stake the tokens itself. It comes down to choices DXdao makes around decentralization.

On Bringing Better Facilitation into DXdao

Again your incorrect assumption that I was referring to the team who came to DXretreat shows lack of knowledge.

After doing work to find the right person, I was pushing for a professional facilitator with relevant knowledge to bring better communication facilitation into the DXdao ecosystem. A 3rd party coach/facilitator, who has deep knowledge and experience in the DeFi and DAO space and can also learn the intricacies of DXdao.

Poor communication in DXdao is one of the main things holding it back. I truly believe (as some others do too) that if we can improve communication, we can better position DXdao to find its path forward and succeed.

Possible Solution:
Revisit my proposed solution.

On Carrot

I have been the main person coming up with new ideas on how to use Carrot. From Carrot in DXventures to the Carrot campaign in Amsterdam (and presenting on Carrot) to the only idea we had for Carrot in Colombia. (which we decided not to do because Carrot v1 wasn’t ready)

On Infinite Hackathon

You stating that I just “showed up” to the hackathon and that the “technical contributors were more pivotal and value-add to the Hackathon” shows the lack of knowledge.

You think DXdao’s other events just come about as well, like our happy hour event at ETH Denver or our partner event in Paris?

If you think again these should be done by a more junior person, please let me know who.

Possible Solution:
Come to one of our events to see?

On Moving Forward

With Nathan being pushed out or forced to leave, DXbiz has an even bigger hole now.

As DXdao figures out if it can operate with product squads leading the way, your idea to pass the responsibility to the Squad leads is a potential path forward.

For now, I want to continue to contribute value to DXdao and I think that I am valuable to DXdao. But as you know, it’s not my choice.

I’ll also be talking to others to understand if and how I can be most effective to DXdao.

Thanks for all the work and time you put into this.

[hughesconnor]

@sky

In 2022 so far, I have been actually paid 67,950 xDAI from DXdao so far, a long way from $222,000! At this rate, even the full year would be only 90,900 xDAI.

It’s the pro-rata amount for this period.

@sky

As some people smartly do, one should likely treat locked up DXD (that you DON’T hold) as zero for a long time

I think seeing DXD as valued at 0 is far from smart, and shows misalignment with DXD holders, to be honest.

@sky

who are willing to contribute to DXdao and deliver this type of contribution in 2022 for $68k.

I can help with this - as above, I’ve provided reference of a team of multiple BDs achieving exclusive deals with very influential DeFi protocols, for around your current salary alone. It’s certainly possible. I can provide candidates if necessary.

@sky

To base much of the post off getting paid $222,000 as an undeserved Level 8 when it’s not even close to correct is misleading.

It’s really not - it’s the reality. You are being paid $222k pro-rata. If you think the DXD portion is worth $0, I’m more than happy to discuss OTC buying it at 10% of its face value from you?

@sky

There is also a massive social pressure to never sell your DXD even to pay bills.

Really not the case and a plea to victimization. If this was true, I wouldn’t see as much contributor selling on-chain. Which is fine, but let’s not just spew nonsense that can be easily disproven.

@sky

There’s also a risk it could end up being worth nothing.

Exactly why I think we should be paying closer scrutiny to worker proposals - let’s not accept the possibility of it being worth nothing, as you seem to just take in your stride. That would be irresponsible, if you want to talk irresponsibility.

@sky

I am now thinking that DXdao should be paying higher USD-based amounts to contributors.

Nope - even the USD amount without DXD is now around industry standard given the market’s place. A shift towards weighting developer salaries higher than non-developer salaries for the same ‘implied level’ sounds good though, as is the case everywhere else in the industry.

@sky

I also think some would say that us DXD holders would be better off not paying out DXD at current values, no?

Sure, we can scrap it entirely, wouldn’t bother me. It’s clearly not doing its job of aligning contributors with DXD holders if you’re throwing around comments like ‘it’s smart to view it as zero’.

@sky

I could suggest speaking with more DXdao contributors that better understand the workings of DXdao.

@sky

I could suggest speaking with more DXdao contributors that better understand the workings of DXdao.

I have done, and those conversations contributed heavily to my original post.

@sky

We could try seeing how DXdao works with people only being able to contribute to a single squad for a quarter or two and see how that goes.

Strawman. I didn’t suggest this at all. Irresponsible to suggest that I did.

@sky

How could this be? Why is this?

Uh, Sky, let’s recap here. I’m not the one being paid by the DAO, you are. ‘How could this be?’, just lol.

@sky

narrow space

Curve?
Convex?
Yearn?

YOU are the one being paid as a BD here, not me. Get a grip.

@sky

DXdao doesn’t even want to hold USDT.

Firstly, what’s the relevance here? Secondly, where did I say they should? Thirdly, are you the ultimate authority on this decision?

@sky

DeFi degening all day long

Your arrogance and desire to look down at DXD holders as usual shows here. It’s pathetic.

@sky

Unfortunately, DXdao does not have “more junior” contributors that can take care of all the things “more senior” people shouldn’t be doing.

Really? DXdao doesn’t have anyone more junior than Level 8 that can take care of writeups (that you haven’t even done, by the way)?

@sky

It’s hard to count the number of new ideas that wouldn’t have happened unless I took the initiative.

So, again, just fluffy sentences rather than actually listing them to provide real data? ‘It’s hard to count, but I won’t bother listing any’

@sky

Nimi one was the first “incubation grant”.

DXventures’ attempt at incubation has been piss poor. Nimi, and DXdao, are clearly unhappy on both sides, and you have been nowhere. You seem to think that handing out the cash is as far as the work goes. You have let the deal turn into an absolute dumpster fire and cause tension within the DAO. That is on you. You included the incubation in your responsibilities, but now that it’s clearly lacking in performance… the below:

@sky

DXventures IS DXdao.

Absolving yourself of responsibility, as usual.

@sky

If anyone has any bigger/more concrete ideas, they can always share or propose these to the DAO.

Isn’t that your job? You are claiming it as part of your worker proposals, but then as soon as something goes wrong with it, you claim it’s everyone’s responsibility.

@sky

I don’t think it is fair to say that DXdao shouldn’t have supported Atlantis World and have a presence there.

Well, you would be incorrect. We have zero business in the metaverse, and you earlier referenced that the Curve ecosystem is too ‘far removed from what we do’ for you to even be in the Discord servers, yet the Metaverse isn’t? Pick your poison, but you’re not going to have your cake and eat it too.

@sky

was also ground breaking and led to a bunch of awareness.

Again, nothing quantitative or numerical, just grond-breaking (sorry, it really wasn’t), because you assert it?

@sky

I also don’t think supporting Opolis is anywhere close to a failure because DXdao “can’t” stake the tokens itself. It comes down to choices DXdao makes around decentralization.

Absolute cope. We are being diluted on our investment, and your DD as part of DXventures didn’t even realize that was a possibility. Why not? Don’t try and claim it was all part of the plan ex-post.

@sky

Again your incorrect assumption that I was referring to the team who came to DXretreat shows lack of knowledge.

Arrogance is beyond hilarious, but sure.

@sky

I have been the main person coming up with new ideas on how to use Carrot.

And again, how many of those excellent ideas have lead to secured and committed parties ready to use Carrot?

@sky

You stating that I just “showed up” to the hackathon and that the “technical contributors were more pivotal and value-add to the Hackathon” shows the lack of knowledge.

Lol. So, you were more important than the technical contributors? That’s what you’re asserting?

@sky

You think DXdao’s other events just come about as well, like our happy hour event at ETH Denver or our partner event in Paris?

Holy shit. WHAT an achievement Sky, hosting a fucking happy hour. All you are able to do is spend DXdao’s money, and you bring absolutely no value.

[sky]

Hi @itmNFT

I am curious where you are getting this ratio from but it seems to be using a 2.93 to 1 ratio.

Using your logic, it would look something like this so far looking at just one single thing, the GNO rewards given to Swapr which I orchestrated:

USD value of GNO rewards given to Swapr for farming rewards: $366k
Actual USD cost to DXdao of SkyMine Labs in 2022 → $68k
Value to cost Ratio → 5.39 ratio

This also led to farming participation on Swapr and users to Swapr and allowed DXdao/Swapr to even have some decent financial rewards to give out incentivizing liquidity. Swapr token didn’t really achieve this.

This simple analysis also does not include:

• any of the other value included in contribution in 2022.
• Other rewards like COW that were highly dependent on opportunity development by DXbiz.
• Marketing and awareness value earned by hard work from DXbiz
• Everything else

If I go through a deeper analysis and calculate some USD values for everything contributed, I think it would likely be another $350k at least, maybe a lot more.

If only an additional $350k, it would look like:

Value created: $716k
Actual USD cost to DXdao of SkyMine Labs in 2022 → $68k
Value to cost Ratio → 10.5 ratio

Both significantly higher than the 2.93 ratio.

How do those ratios fit into your analysis?

[hughesconnor]

Sky,

You’re actually forgetting that you were a net negative to the COW token deal, as you insulted the key decision maker who had to reclaim his funds after sending them to the DXD token contract, which infuriated him. Others had to step in to repair that relationship that you damaged. We likely would have got more COW if you hadn’t been part of DXdao, in my opinion - and others’ opinions, who alerted me to this situation but felt unable to speak up against you.

Also, you again just ignore the DXD cost. You should remove it from your contributor proposal if it’s worthless as you suggest, or be a little more intellectually honest, stop cherrypicking, and not ignore it if you actually want it.

[sky]

@hughesconnor

I can help with this - as above, I’ve provided reference of a team of multiple BDs achieving exclusive deals with very influential DeFi protocols, for around your current salary alone. It’s certainly possible. I can provide candidates if necessary.

For the benefit and success of DXdao, please do refer these people to DXdao. I have never been against anything like this.

So that I am not a blocker in any way, feel free to refer them directly to ContributorX squad or Product squad leads.

I would love to speak to them as well if they are up for it and no one thinks that would be an issue.

Thanks.