[DAO Discussion] - Continued Treasury Management by Sifu

I think this is the right approach given the track record so far, however we need this strategy to be articulated and outlined. Short term objectives, long term objectives, what counts as a success?, what counts a failure?, and what will be done if that threshold (of failure) is met? I understand that the strategy may be something to keep as a secret, but I thinks some attempt to engage the community on it is needed.

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I think you can dm Wicked or ask for Sifu on discord

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YES to Sifu, who is doing an excellent job! Frog Nation will be better and stronger with Sifu working with Dani.

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Yes, keep Sifu. More transparency is always welcome but his sell at the top was beast.

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I agree with maintaining the status quo and letting Sifu, master of coin, continue his great work :+1:

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I like the engagement of Sifu with the community on Discord, he is open, transparent, helpful, his trading decisions regarding the treasure were on point, especially the rotation in to stables at the top. Sifu does overall a good and competent job and should remain the treasure-manager.

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I agree, letā€™s not fix whatā€™s not broken.

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I just think we shoud have access to the roadmap so we can see what Sifu wants

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So far he has done a great job, but we have no idea what his ā€œoriginal ideas and long term plans for Wonderlandā€ even are.

Like others have said communication would be great. Not just from Sifu but anyone really and ideally more than 1 person.

Sifu has to spend to much time hunting pings to reply too, he showed that he has a ridiculous amount of pages of pings every single day.

This should be someones job, and to help organize chats at minimum weekly where some people can post questions.

Additionally it seems a little odd to me that the lead dev has no power over the code but the treasury manager instead does. This can work if Sifu lets him and encourages him to do his best but im just not sure why the treasury manager needs programming power other than saying ā€œwe want this to be implementedā€ etc.

My last point is, what roadmap? I have heard Daniele mentioned some things in each interview but never has there been a roadmap or list of goals laid out.

When this goes to vote it needs to have more than a yes or a no on it because there are too many different things in this post.

Yes - Sifu for treasury.
Potentially yes - All the other points that have never been discussed with community members or maybe donā€™t make sense until they are discussed.

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I support Sifu and the status quo

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Support this. Need to have elected people with expertise manage this. This is why i am in the protocol

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Thanks. Doesnā€™t seem like their DMs are openā€¦

Sifu, keep up the good work. Excited for the future!

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Thatā€™s my wallet, donā€™t worry, I just want to enter lower

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Itā€™s a YES from me too, Sifu is doing a might fine job.

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Yes, 100%, I support Sifu continuing to manage the treasury - just please manage expectations through communicating mid to long-term plans. Keep up the good work!

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Itā€™s my understanding that Daniā€™s team which includes Sifu comes to the decisions. Daniā€™s team is an unknown force but I believe risk management is in there.

I have a thread off of the dao channel where I attempted to ask 0xWicked some questions( but i think it got ignored once i dug in given the recent reply) and he said all the treasury decisions are professionally assessed before they go through.

That may or may not mean Sifu consults the team, certainly highlights a communication problem again though.

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I support this. Sifu has shown he is a shrewd treasury manager.

Active treasury management can benefit the protocol by generating opportunistic yield.

As far as rebalancing and daily treasury management is concerned, SIFU is our man!

That said, I would also suggest that any BIG investments such as buying or investing into another protocol should be subject to a vote like the XAVA investment, etc.

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Active management by Sifu has been working well thus far and I see no reason to change how this operates. Heā€™s great at his job.

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Indubitably yes. Sifu should maintain his current position as the fund manager and one of the general protocol developers.

TL;DR at the bottom.

Some reasons to explain my personal belief in this opinion I hold, among the masses who have stated their own:

From a communication perspective, Sifu is daily, on the Telegram, Discord, and Twitter. He said himself that heā€™s on around 18 hours of every given day actively working for this protocol. I would agree, given you can search and actively see his community outreach track record, that he is on consistently. He does not give into drama (unlike our benevolent leader Dani, who likes to make the rollercoaster go up and down and thrash us about). He simply states his beliefs, educates those who ask questions, repetitive they may be, and dilligently works.

Holistically, the Avalanche ecosystem may seem very large, but we are puny, respectively. TIME would not be without TJ, TJ without TIME, both TIME and TJ would not be without AVAX, and vice versa. More specifically, while our oldest competitor has been around for (nearly?) a year, our side of things is still very much in an infant stage. The majority of our investors donā€™t understand how the project sustains itself, many of them first-timers in dabbling with cryptocurrencies. Many may have been around the block once or twice, but are 2% seekers who primarily look for short-term gains and bag pumps to buy chicken tenders from McDonalds. As much as I would love to feed their villages, frankly, with the money we have, an $800,000,000 quasi- venture capital fund DAO can feed many, many more villages in the future. A dream of mine is that a fund this size would send me out to manage feeding villages in need and doing charity work. Smack-dab in the middle of all of this is Sifu, not 300,000 TIME holders.

To tl;dr the passage above; dethroning Sifu and decisions made by the masses would crumble the entire AVAX blockchain. TJ would crumble, AVAX would crumble, TIME would crumble, any fork of us would crumble, and even OHM would likely see a lot of scary volatility. Our stupidity would cause a destructive earthquake.

Furthermore, weā€™re just going to forget about being saved from an exploit that rocked our largest market-share competitor? We watched as they fumbled, tripped, and fell on their faces. Our contractsā€™ security was shored up from the beginning, and it wasnā€™t advertised that we have better developers, or that our projectā€™s funds were safer. It was all chalked up to the ā€œfunds are safuā€ meme, and weā€™re talking about peopleā€™s money. Protocol safety is paramount, and to lose that trust from investors surely says iceberg ahead with a drunk captain. Props to the team for this lifesaver.

The 2000 TIME salary disbursement is a sign of strength. It was immediately un-fudded by Sifu on the Discord when a random Discord member asked. This payment of salary was done at a 3 month low. Heā€™s getting a great deal, not a steal. Obviously in it for the long run, and it shows that the protocol is strong enough at the lowest point in the market weā€™ve seen since July 2021 for a 2000 TIME disbursement. Is probably a sign of the things to come.

Some rebuttals for the more oddball disputes and ideas that are being put forth in the replies of this thread:

This is blockchain technology. Everything is visible, everything is traceable, everything is very, very transparent. If you are one of these people who donā€™t see these moves, the reason things are not visible to you is because you are not looking. You are not using etherscan or snowtrace in a way that is effective and/or you are not experienced enough with tracing platforms to understand what you see on the screen. Frankly, the majority of holders donā€™t need to know. I would argue that if thereā€™s a black curtain, it should be held over the massesā€™ faces and they should be played a nice movie while their bags are grown and their chauffeurs quietly drive up to the gallery, waiting for them outside.

To expand on that point further, the masses also donā€™t need to know every individual theory or plan that the protocol leaders establish in their head. A roadmap is common, but not necessary. Countries donā€™t have roadmaps explaining how theyā€™ll get themselves out of multi-trillion dollar debt, or how theyā€™ll fix their economies. Itā€™s a day-by-day thing, and being stricken with rigidity in that manner where investors expect to see progress in the development of the platform leads to losses ā€“ things like opportunity cost, impermanent loss, missed opportunities. I would love to be a fish in a fishtank, personally, just make sure Iā€™m fed.

Lastly, most major companies do not reflect on a CEOā€™s performance quarterly, and most do not do it twice a year, either. Right now, we donā€™t have a better solution for who we trust to manage $800,000,000 in assets. If there is ever to be a re-questioning of treasury management, it should be in 12 month timeframes. Quarterly or bi-annually lends itself to manipulation. Whales are stacking their bags considerably, and reasonably so. What kind of manipulation might we lend ourselves to if we vote every 3 months, just to see increased volatility? Unsafe, risky behavior, beyond what weā€™re used to in order to chase gains to maintain positions is not the move. New investors are shark-like, and will quickly vote someone out, not knowing their own strength, when they donā€™t see 20% minimum gains and donā€™t see that weā€™re simply in a market downtrend, for instance. This would spell for the end of the protocol, and the cascading effects Iā€™ve gone through above.

TL;DR: In conclusion, Sifu has consistently been a reliable manager of the codebase, website, community, and funds through and through. Dani likely selected him for a reason, they probably work together very well, and have similar mindsets and market outlooks. Actions come before words in this space, so if you see something intruiging, thereā€™s likely a reason for it. I donā€™t see any reason to even question dethroning Sifu, nor any reason to question again in the next 12 months, as things currently stand. Heā€™s done a great job.

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