[DAO Discussion] Multifarm Analytics Partnership - Treasury Dashboard Development

[Rubo_Multifarm.fi]

Twitter: https://twitter.com/MultifarmFi

Website: https://www.multifarm.fi/

Multifarm is proposing to build a public-facing treasury dashboard for Wonderland to showcase all of their fundamental data directly within their website. The aim is to increase transparency towards the community and investors who will be able to clearly see the various income streams and farming strategies.

TLDR;

Multifarm is proposing to build a treasury dashboard and become an analytics partner of Wonderland, which includes:

• Develop sophisticated data visualization on treasury metrics for community and potential investors
• Help improve core decision-making of the treasury manager
• Co-marketing efforts

Who is Multifarm:

Multifarm offers a full-stack service to create treasury dashboards and custom dashboards for blockchain protocols.

• 300k+ Active Monthly Users
• 20+ Dashboard Clients (DAOs and Protocols)
• 600 million USD treasury value managed by Multifarm Treasury Solution
• Support Yield Farming Data for 300+ Farms
• Support for all EVM chains
• Scalable Technology through API and Data Visualization

The Multifarm Dashboard technology is trusted by top brands such as Redacted Cartel, Polygon DAO, Maia DAO, and Alchemix. Our dashboards are easy to understand, fully customizable and benefit protocols and users alike.

Our vision is to play a fundamental role in building reporting and analytics infrastructure across all chains with the goal of becoming known as an industry leader in the space. We aim to achieve this ambition by optimizing the value added by our services. This includes our flagship product, the treasury dashboard, as well as professional data visualization for Defi (Yields, Emissions, Bribing optimization, etc.)

We believe that data visualization plays an important role in the core decision-making process and that every protocol can benefit from a more sophisticated reporting standard.

Proposal Utility and Features:

The dashboard will contain graphs and tables tracking treasury metrics, providing clean and timely data visualization for the treasury manager to enhance and optimize their monitoring, tracking, and reporting of assets, thereby, enabling a more informed decision-making process.

Multifarm will take care of the full design, frontend, and backend development of the dashboard. After which, the management can easily be handed over to the Wonderland team. Any changes required can be made by the Wonderland team through an internal login. Mulitfarm can easily add any other features required in the future.

We also offer co-marketing for Wonderland. This will include reaching out to our respective audiences & engaging over Discord, Twitter, and Medium. We believe in creating a long-lasting relationship with partners in the space and will endeavor to contribute to that relationship and spread awareness.

The goal is to showcase the productive assets in the treasury and optimize strategies around them, with that, providing clear stats on performance that can be shared with the community in the brand identity of Wonderland. Furthermore, the dashboard will transparently illustrate all the information around quarterly redemptions, providing investors with clear information on how to proceed.

To get a better idea, take a look at the dashboard we built for Sphere (Sphere Finance | The S&P 500 of Crypto) and our demo page for more examples (https://demo.multifarm.fi). We have attached some design mockups below as well.

Dashboard Breakdown and Project Plan:

We present a draft version of the Treasury Dashboard, which will be fleshed out and customized appropriately by the team when approved. The community will also have a say in its customization alongside Wonderland’s core team.

Phase 1: Design Phase (1 week) (5k USD)

In the Design Phase, we will prepare the overall dashboard design. This also includes the whole planning of the process and setting up project and task management to have a good process for the consecutive steps. The design will follow the Wonderland brand.

Subtasks:

• Design sections of the dashboard
• Optimize the design and iteration upon feedback
• Setup Project Plan for moving forward

Head Count:

• 1 Senior UX-Designer (Full-Time)
• 1 Project Manager (Part-Time)

The outcome of this phase will be a final design concept for all the coming phases that will be implemented. We will also roll out a dark-mode design.

Phase 2: Dashboard Development - Frontend (1-2 weeks) (20k USD)

In this phase, we are developing a widget which can be integrated into your website.

We will also take care of all the backend/API aspects. This also includes displaying all the treasury holdings on the widget. We will also set up the whole backend infrastructure for your dashboard.

This will show detailed distribution information about Wonderland’s treasury so that community members can easily understand the DAO’s treasury breakdown and proposed utilization of treasury funds. This will include information such as:

• Treasury Assets
  • Backing Price
  • Liquid Backing Price (redemption price)
  • Portfolio Allocation
    1. Shows the distribution of assets in the portfolio
    2. Tracks change in the value of treasury assets over time
    3. Information on different asset categories (Claimables, Collateral, Debt)
  • Strategies Performance
    1. Compare the historical APR of various strategies against each other
    2. Treasury Manager can analyze cash flows
    3. Daily-earnings over time
  • Strategies Detailed
    1. Detailed information on each strategy where the protocol deployed capital
    2. PnL View
    3. Growth of Principal over Time (+ Historical Data)
• wMEMO Statistics
  • Supply
  • Market Cap
  • Quarterly redemption countdown
  • Amount of rewards claimable
  • Unique holders
  • OTC Transfer for stablecoin button

(Note: these metrics are not yet finalized and will be amended depending on discussions with the core team and community while taking into account any price change considerations because of extra features required)

Subtasks:

• Developing UX for the above-mentioned metrics
• Provide a Frontend Demo
• Integrate blockchain metrics (as much as possible without backend)
• Integrate general stats
• Start setting up the backend

Headcount:

• 1 Frontend Dev
• 1 Full Stack Engineer
• 1 Project Manager

Phase 3: Dashboard Development - Backend (2 weeks) (25k USD)

In this phase, we will gather and integrate all available on-chain data from the relevant sources into a central database to be displayed in the dashboard. We will set up an entire backend infrastructure. The Wonderland team provides custom data metrics for the protocol. We can inject those metrics into the dashboard and visualize them across several charts and graphs.

Subtasks:

• Integrate protocol-specific metrics
• Blockchain Data Extraction
• Calculations
• Endpoint Development
• Testing and Finalization

Headcount:

• 1 Frontend Dev
• 1 Lead Backend Dev
• 1 Project Manager

Deliverables:

• Finalize Dashboard with the Data as described in the subtasks
• Final Testing
• Provide Core team with Multifarm Label Technology and Backend Login

Total: 50k USD - (4-5 Weeks)

Advantages of Multifarm’s Dashboard

Everything is listed in one place in full detail, including treasury assets, yield farming, strategies and wMEMO metrics. This benefits both the team and the community who can easily find the important information needed to make decisions related to treasury and governance.

Benefits include:

• 100% Transparency, enabling a more streamlined decentralized treasury management procedure
• Immediate overview of treasury use and transactions (important given that the majority of investors cannot read etherscan or blockchain).
• Education for the Community (explaining concepts of wMEMO, Redemptions, liquid-/backing prices, etc.)
• Allows the community a deeper understanding of the protocol and its fundamentals
• Regular updated presentations of revenues/volumes/redemptions, etc.
• Visualization of the entire ecosystem around Wonderland
• Clarity of returns from yield farming and other investments. With the help of Multifarm yield farming data feeds

Maintenance:

We will provide the Core-Team with a self-service login, so they can manage their strategies themselves. If the team can manage everything themselves, there is no associated cost for maintenance. New strategies holdings (as long as they are not super exotic) get detected automatically.

For any additional work, someone from the Multifarm team can do it on behalf of Wonderland (editing the strategies, adding more changes to the dashboard, etc.) and we can charge by the dev hour for anything required.

References:

Multifarm - The Yield Farming Dashboard

Multifarm

https://www.wonderland.money/

https://dao.wonderland.money/t/dao-governance-framework/17824

[Jay957]

50k seems way too much for this. It’s a simple website!
I do find it annoying that there isn’t a convenient way to get backing price and asset breakdown but this seems like the wrong thing.
I’d also be happy to just see a spreadsheet that’s regularly updated.
Also happy to pay a bit for a proper dashboard, but 5k - 15k, not 50k.

[Rubo_Multifarm.fi]

Hey Jay!

I do understand your concerns about the price tag. But will help explain why we have come up with that cost and why it’s needed.

Firstly, this is a complex SW-Development project and there is much more behind it than just a “dashboard”.
The dashboard need to be vastly different and upgraded to/from the current one to make an effective impact.
The dashboard is the easy part, but getting access to the data and connecting to the whole backend infrastructure that comes with it is quite a big scope.

We will work with 4 developers (+designer + project manager) full time on this project, to give you an idea how much man-power we are putting into this. Also you need to account for the experience we have now from building dashboards for other protocols so far. Without this experience/learning curve, the whole effort would have taken much longer than a few weeks.
NEW

@Rubo | Multifarm.fi
Hey Jay! I do understand your concerns about the price tag. But will help explain why we have come up with that cost and why it’s needed. Firstly, this is a complex SW-Development project and there is much more behind it than just a “dashboard”. The dashboard need to be vastly different and upgraded to/from the current one to make an effective impact. The dashboard is the easy part, but getting access to the data and connecting to the whole backend infrastructure that comes with it is quite a big scope. We will work with 4 developers (+designer + project manager) full time on this project, to give you an idea how much manpower we are putting into this. Also you need to account for the experience we have now from building dashboards for other protocols so far. Without this experience/learning curve, the whole effort would have taken much longer than a few weeks.

[MattMacGyver]

I’m very excited about this proposal. We need an efficient dashboard that is clear and consistent, multifarm appears to do a great job with that for their other partners.

Personally, I understand the costs involved and I believe this is a fair value. Good work and skilled talent doesn’t come cheap, and this is very much not just a website. This is detailed asset analytics, sources by and implemented into a custom framework.

I was taught a useful anecdote that often helps me frame my priorities. When deciding which direction to take for completing a project, we get three major considerations to choose from and only ever get to pick two. A) Cheap. B) Fast. C) Good.

You pick cheap and good, it’s unlikely to be fast. You want fast and good, it ain’t gonna be cheap. You want cheap and fast, it probably won’t be very good.

This proposal appears to provide B and C. It looks great, is very needed, and in a 5 week timeline it should be fairly quick. I appreciate their professional approach and unique experience delivering exactly the kind of thing we need. I prefer a carpenter build my cabinets, not a jack-of-all-trades handyman.

I’d love to get a competing quote from another experienced team that can handle this task, I always love options. This one has my vote of approval so far though.

[Rubo_Multifarm.fi]

Jay957 — Today
“What makes it a complex SW project?
Where is the issue with connecting the backend and getting the data?
Not saying you’re wrong, just really doesn’t sound like a big project to me”

So the project scope is behind the Dashboard is quite big, we are building a top tier premium product to match the prestige of Wonderland.
I’ll map out some points to support:

a) This project needs a whole data extraction layer from the blockchain and setup that comes with it (e.g. APR data on all strategies, holdings, etc.)

b) After that we need a whole backend infrastructure to manage this amounts of data and make calculations (Also have access to historical APR for all strategies)

c) Being able to support all possible and future farming strategies out there and add them to the dashboard
d) Program various endpoints to make the data available and be able to plot graphs (which are protected via API Key)

e) Program a “CMS” to give the team access to be able to configure their graphs, label the positions and plot individual graphs

f) The whole design and frontend part will also take same good amount of time as well as connecting the endpoints with the graphs

g) Testing! (Not to be forgotten, for any major SW Development project, usually this doubles your ETA for shipping as we want to be thorough)
-You need someone who takes “ownership” in a process like this. It’s not only about SW Development, but also a big coordination effort. We need a professional project management setup, communicate with the core team, coordinate the devs, etc. For this we need some senior devs who take accountability and ship in time.

-The hiring market for blockchain talent is extremely competitive. Probably the most scarce talent pool across all industries. Especially, if you need developers it’s extremely hard to find good talent. Also don’t forget the hiring cost and wage cost associated with smart contract developers. Alone the hiring process probably would easily take a few more weeks to pull a project like this and have the right team.

-I think this project is too important to make an “intern project” out of it. We feel Wonderland wants to move fast in the development. This will be a major step towards investors transparency, people understanding the project and also making it attractive for other DAOs. The cost for this project will probably be a few days of farming with the treasury to make up the cost. Additionally, Multifarm also helps to increase the farming returns/risk management here as well.

-The whole project is relatively final. We are building it in a way that it will be configurable by the team and new strategies can be just added by themselves. The whole idea is to ship a ready product, which then can be maintained by the team in the backend and configured to their needs! So new graphs can be added automatically and don’t require assistance from Multifarm (but of course we are available if you need us ).

I do appreciate your point as these discussions are important to get a full understanding of the reasoning behind finite price points. Hope this aids in fostering an approving perspective

[suraimu]

The scalable potential of reliable data to use elsewhere is where I get interested. For example, we could rent a Wonderland booth in a metaverse somewhere and have live 3d interactive data to promote the DAO (and multifarm).

[Vayu]

The dashboard design is smashing no argument there and also with backend that doesn’t need to pull api from zapper that keeps rugging us that’s a huge improvement for sure and since it’s a 1 time payment not monthly it’s reasonable imo.

[Stevoman]

I don’t believe the costs of this are excessive for the services provided. However, I don’t think this is a service that Wonderland needs in the first place. We have dedicated team members who can report this on a semi-frequent basis, similar to how SkyHopper’s team does it for the Bastion Trading vault in the Teragon protocol. I expect team members that are operating/managing the treasury to have accurate knowledge of these numbers pretty much every day (this is how frequently the Bastion Trading team updates their numbers for the vault).

I just don’t see a reason why we need to pay for this service so that the general community can see this info in a fancy dashboard. Real-time aspects of it just aren’t necessary, and it still may require team members to update it manually anyways.

[Zhiv]

i think all serious projects need something like this to show transparency and confidence,
we gotta remember that a lot of investors do not use discord/twitter at all, so a good real time display won’t force them to join discord and ask for numbers (sometimes can be inaccurately given by randos),
the cost is more than worth it since it’s only 1 time payment and the dashboard can be configured and used infinitely by the team as they see fit

[Rubo_Multifarm.fi]

Hey Stevoman,

Thanks for your response. Glad you agree that the service is fairly priced for what is being delivered.

Whether the service is needed or not in the first place is another story:

Wonderland and its community deserve to have analytics and reporting that bodes a level of prestige which is adequately proportionate to their degree of superiority in the industry. The entire design is tailored to Wonderland, it’s native on the website and has a much better user experience than semi-frequent reporting. Easy, interactive and real-time analytics are great for user stickiness and retention. With the idea to make Wonderland very inclusive and accessible to new investors and community members, a Multifarm dashboard will help here a lot. For example, a previous solution using Zapper ended up being “rekt” - with an unfavorable outcome that further supports the need for a more sophisticated approach for the community.

The point of the dashboard is so that team members don’t need the Multifarm team to manually update afterwards since we are pulling data straight from the blockchain. Our philosophy is to set it up so that teams require little to no support and if the situation arises where there is a new chain/farm that needs to be added, so long as Multifarm supports it, it gets auto-detected and we are integrating new farms/chains all the time. It is designed to have no running costs for the team.

Furthermore, they would be benefiting from a longstanding partnership with an industry leader in treasury analytics, allowing them to direct more of their time and resources to other core areas. Our solution also gives the treasury management team internal tooling for yield farming cash flows plus the ability to re-use our endpoints and do further analytics with it.

I agree that this service would not be suited for most protocols, but Wonderland is not like most protocols. Therefore, the ability to emphasize transparency in front of investors and the community requires a higher priority.

A treasury dashboard is also bullish for investors that prefer optimized transparency surrounding investments. In other words, having the data contained in this Dashboard will empower investors to “value” the protocol properly. Larger investors, such as institutional investors, are used to transparent reporting standards. Luckily they also control higher amounts of capital at the same time. I’m not saying that the dashboard will directly influence the price/TVL, but it definitely can help investors to understand the fundamentals better.

[jclemons]

Who hosts the backend DB and where will that live and what will be the redundancy built in? Is there any recurring costs that haven’t been disclosed in this proposal? How real-time will the dashboard prices be and are there recurring costs for that?

[Rubo_Multifarm.fi]

Hey jclemons!

We are developing and hosting custom endpoints for Wonderland which are serving the treasury dashboard frontend. Also can make use of decentralized technologies such as Subgraphs.
Those endpoints can also be injected into the Wonderland Data Warehouse (maybe at a later stage) - where the team could re-use that data for reporting, data analysis, policy, marketing, etc. purposes.
The data of the treasury dashboard is in real time (~1min) with also monitoring in the backend to check for down-time and errors.

Again there is no reccuring cost as long as the Wonderland team manages the dashboard via self-service login by themselves. If they want additional features developed we could charge by the dev-hour.

[jclemons]

Ok, you didn’t answer where the custom endpoints would live and what is the redundancy
that is built in and do we have some SLA for uptime availability? For example are the endpoints hosted in AWS with multiAZ?

[pool2warrior]

Hey jclemons, I’m the technical co-founder of multifarm.

Our infra is built on Kubernetes and hosted in AWS. Our uptime is 99.9% and rarely have the API down.

We also have measures in place that we could show a popup on the dashboard, that we are currently in “maintenance mode” to inform the community in case.

We don’t have multiple zones implemented at the moment, however we could implement multi zones if the community wants that. But maybe that would be good for a second step, since our focus should be to get the dashboard up and running as a first place.

In a later step we could also implement a monitoring dashboard with stats regarding uptime and other infos, if the community wants that.

[jclemons]

Appreciate the response. Imo we don’t need an uptime dashboard. But having viable scalable infrastructure as the backend is most important.

[hypermassiv]

I like this, having an accurate dashboard to showcase important data would bring a lot of trust to the project. I’m just wondering, is this dashboard able to adapt to a possible revamp of our website in the near future? And would that incur an additional cost if so?

[Rubo_Multifarm.fi]

Moving Forward:

Following our discussions with the Wonderland team, there is also a need for the current dApp to be reworked. This is an exciting next step for Wonderland and Multifarm is open to playing a fundamental role in the redesign/simplification of the current dApp. This would be following a multiphase process. The first phase would be to develop the treasury dashboard and visualization protocol metrics (as this is a sub-part of the new dApp), after which the full dApp redesign can be initiated.

Successfully developing one project before the next would give the community and thereby the DAO, confidence in Mulitfarm’s abilities to deliver and foster a more streamlined process for the dApp redesign. It also allows more focus and with that, more feedback on one project at a time resulting in a better product overall. Thereby, allowing the benefits of the dashboard to compound sooner as the dApp redesign is started.

Regarding dApp development, we are generally willing to help out with the overall rework. This would typically require Wallet/MetaMask integration functionality and we would need to fully scope that out and check our frontend dev capacity on that end. Ideally, we will focus on the treasury dashboard development first. So this would be seen as a step-by-step process to move forward.

[NalX]

Topic has been moved to RFC:
https://dao.wonderland.money/t/rfc-multifarm-analytics-partnership-treasury-dashboard-development/19528