Worker Proposal - Pete Smeet

Worker proposal – Pete Smeet - 19 August to 19 October 2020


  • Focus on biz dev, finances and investor relations for DXdao
  • Two months period to start with
  • Monthly comp of $5,000 + REP
  • 13 years of experience across finance/banking and start-up across Europe and Asia
  • Existing contributions so far linked in the text below :point_down:


Dear DXdao community,

Please find below my proposal to join DXdao as a new member. My focus will be on biz dev and governance aspects. I have been active in various forums over the last weeks, focusing on topics I have an interest and expertise in. This proposal is supposed to formalise my work relationship with the DXdao to continue these efforts.

Existing contributions:

Omen biz dev + liquidity mining suggestions: BizDev Meeting - 10th August, 2020 - #2 by PeteSmeet

DXdao investor SWOT: Governance Discussion August 5, 2020 - #4 by PeteSmeet

Worker compensation guidelines: DXdao Worker Compensation Guidelines 2020 - #34 by PeteSmeet

Involvement in the calls & in forum discussions

Responsibilities: Proposal for specific tasks

  • DXdao:
    • Prepare materials (eg updated whitepaper, blogposts) to highlight DXdao’s value proposition: Structural elements, valuation of portfolio companies, etc
    • Reach out to investors to get them onboard as liquidity providers or tokenholder
    • Financial planning/forecasting
    • General involvement in governance and business aspects for DXdao’s portfolio companies
  • Omen:
    • Product & business development
    • Financial planning

I envision that the above tasks will happen in coordination with other DXdao members.


  • Monthly financial compensation: $5,000
    • Rationale: I’ve got 13 years of professional experience across finance, corporate development and crypto/start-ups in Europe (UK, France, Germany) and Asia (Thailand, Japan, Indonesia) = “Expert”. $5,000 is the mid-point of the range.
  • Monthly token compensation: I am OK with the monthly REP compensation as per the guidelines.
  • Payment: I prefer DAI or USDC stablecoin.
  • 50% of monthly compensation paid when the proposal is accepted, the other 50% two weeks later (ie 2 payments per month)

Time Frame

I suggest using these terms for the next 2 months and then assess in how far the workload justifies any adjustment.


  • Spent the last 2.5 years exclusively as an entrepreneur and investor across crypto and non-crypto both in Europe and Japan
  • Before that, I worked in investment banking and corporate development both in Europe and Asia
  • Speak English, German, French and Japanese


How does the final voting work, ie what’s the quorum and is the REP-whale the decisive factor? I don’t want to go back and forth between Alchemy and daotalk.

I have a ton of ideas and would like to get started. Looking forward to becoming part of the DXdao collective :blush:


Hey @PeteSmeet ,
It is great to see that you are interested in joining the collective as a worker!

I few short points. regarding your proposal:

  • I would like to see proves about your experience level “expert”. Until then, I would recommend you to prove yourself with the “Junior” level as the start.

  • I would recommend you to change your proposal from two months to one month as you are still in the “prove yourself” phase.

  • You should be aware that the DAO is not holding any significant amount of DAI/USDC. Requesting payment will not work for DAI/USDC until the DXdao found a way to exchange assets.

  • You need to state the exact amount of REP you are requesting. Simply saying “I am OK with the monthly REP compensation as per the guidelines.” is not clear for any member to review.

  • You spent 2.5 years as an entrepreneur, I would like to see proves for this. Which Startup did you founded? The same should be for the investment banking work you did in Europe and Asia.

  • How did you calculated your 5k salary based on the worker compensation guidelines?

  • Overall, all your responsibilities do not require a full time position immediately and you could first deliver value and request rewards for it. For example you could “Prepare materials (eg updated whitepaper, blogposts) to highlight DXdao’s value” and simple request a compensation for it.

  • If you really want to pursue you should have a more detailed responsibilities and deliverables.

Prove myself: I have prepared a couple of things in order to “prove” my contributions. Have you seen these? Were you in the calls? I won’t dedicate my time to DXdao as a “junior”.

Term: Sure, one month is fine.

Compensation: $5k is the midpoint between 4k and 6k. Even that is low tbh.

Previous experience: Is it a requirement to disclose identity etc to join the DXdao? I haven’t seen that anywhere.

PeteSmeet - I’m pretty sure someone working with investor relationships and business development should have their identity known. It matters a lot for trust and credibility. IMO I suggest we start off there to accurately identify a setup that may work for us all :slight_smile:


Are all DXdao members identified by the true identity?

All Full time workers have their identity exposed, yes. Anonymous contributors can and are encouraged to do work first and get compensated later on. I will vote against any proposal with claims which have not been proven!

What’s your view on these contributions so far? You agree/disagree , see any value for DXdao in them?

Thanks Pete for taking the interest and time to put this proposal together. As you are aware, DXdao processes are still maturing. And there are several areas where work and people are needed.

I think what you’re asking is fair, but that it would make sense to have some kind of trial period or task where the active community members and yourself get to see how you work together.

The whitepaper which you mention here I believe is in sore need of being updated. In my opinion, something like this or maybe other materials which could go on the landing page would be a good first task to scope out.

1 Like

I want to second this as a first project. From then you can get compensated in some combination of ETH/DXD/REP and you’ll get a feel for collaborating with other DXdao members.

1 Like

Can you please clarify: “…first project. From then you can get compensated…” ? Thanks

I wont called your activity too active Profile - PeteSmeet - DAOtalk.

Also, who are you? and which calls have you attended? I never saw you before.

Im happy to get more people involved in the community but I think the positions you are applying for are not a priority though and we have already people like Ingamar, Chris, Sky and Jhon who are taking care of biz dev stuff.

1 Like

How do you quantify “active activity” for potential new workers then? You looked into any of my forum posts, materials I prepared? You agree/disagree, see any value?

I’ve been in most of the calls over the last weeks. fwiw - ur call schedules exclude Asian timezones (will be back in EU in a few days), so I missed yday’s call for instance.

“Who are you?”: I’ve explained in writing and during calls who I am, what I do, etc etc.

Existing team member: Look, I’ve chatted with all these people over the last weeks during the weekly calls and nobody pushed back on the basis that we’d duplicate on workstreams. In fact, I always think the verbal conversations in the calls are quite factual and encouraging to figure out where gaps are.

Is there something like a “worker overview/team page” so non-DXdao people can see who is doing what?


Currently preparing a doc describing areas which need work for DXdao and this is a good point which makes me realize we should also have documented who is doing what currently. At the moment the only way to really understand this would be to dig through proposal history on alchemy and find all the worker proposals.

1 Like

Yes, thats how I quantify activity, activity in the forum, keybase, github, calls.

I dont pay to much attention to chats in the calls but I am in most of them.

I personally like to know who are my co workers, know them personally and develop real relation with them. ALL of the DXdao workers have disclosed their identity since the beginning, I guess it depends on the relation you want to develop here…

Even more if you will be talking with investors, I mean… they want to talk with real people is they are going to put serious money in DXD… you present yourself with a lot of entrepreneur, investor and banking experience (where you didnt share any linkedin or reference) and you propose to talk anonymously with investors… they want to know who are they talking to. Given that and that I we dont know anything about you I think you wont go very far here.

@AugustoL Please remain factual and polite in your comments. You are going off-piste.

  1. I asked you if you had looked at my contributions. Still no feedback. But nvm.
  2. You don’t “pay attention to the chats in the calls, but you are in them” . So that means you dial in but don’t listen? Well done.
  3. If it is a requirement to disclose full identity, then DXdao should write this down as an onboarding requirement.

I dont see where I was impolite, but ok.

Yes, I saw your ~20 comments and 1 topic creation (this topic) here in daotalk, thats all you have?

Yes I listen, sometimes I dont have the chat open therefore I miss some messages.

This should be discussed with the community, but some positions, like the one you are applying for IMO it is a requirement.

As discussed in the call, I am taking a step back for now and withdraw this proposal.