Wonderland has proven to be the most successful DAO so far in terms of treasury size (thank you Sifu) and overall ecosystem strategy (thank you Dani). However, exponential growth of Wonderland is dependent on a defined structure, hierarchy, processes and resources that allows teams managing the project to provide the best return on investment to the community (AKA: stakers).
A recent flag for the ecosystem growth has been the backing per time metric, which has been decreasing due to the amount of TIME being allocated to stakers, reduced number of new stakers and impossibility to growth treasury as fast as the current APY requires to sustain a higher backing price.
This proposal is a first attempt to outline the details of a DAO organizational structure for Wonderland’s core team, that will allow the them to sustain Wonderland’s growth while providing oversight and transparency to the community.
Below the main proposed changes:
- Propose and vote on main roles for core team (Division Heads):
Daniele Sesta as Master Hatter (Project Head);
Sifu as Master of TIME (Head of Treasury) - No need for second vote as the community has already voted on this;
TBD as Chesire Cat (Head of Development).
The Master Hatter, Master of TIME and Chesire Cat, as well as their teams, will be the ultimate responsible people for the continued growth strategy (protocol development, expansion and business development), as well as its’ communication to the community. They will also be responsible and accountable for managing the current team and expanding it as needed to fulfil the growth strategy.
Treasury multisig will remain under the current members, unless the community requests a transition through the formal governance process. However, transparency on current members assigned to the multisig needs to be provided.
The core team (as defined above) will establish a clear mandate and propose to the community which decisions have to go through a governance vote and which ones should be left at their discretion.
Proposed Collective & Restructure (Some ideas from Sushi proposal and open to suggestions)
The goal of this new recommended structure is to:
- Align the collective through clear governance oversight;
- Create clear leadership and hierarchy within the core team to allocate resources, dictate growth strategy and business decisions, and the power to on and off-board contributors.
Core Team Structure
Master Hatter: The Master Hatter or Project Head will have oversight of growth through business development, marketing strategy, human resources, roadmap, and go-to-market strategy. They will also work with the rest of the leadership team and Wonderland governance forum (in accordance to the governance oversight section below) on executing partnerships. They will work to assess profitability on all business lines and work with the rest of the collective’s heads to allocate resources accordingly. They will work with all teams to outline objectives and key results and well-defined timelines on current and future plans.
Master of TIME: The Master of TIME or Head of Treasury will oversee the financial and procurement strategy as well as their execution. They will work to assess profitability on all business lines and work with the rest of the core team heads to earmark all resources accordingly.
Chesire Cat: The Chesire Cat or Head of Development will oversee the development of Wonderland application and roadmap. They will manage all Solidity, Frontend, and Backend and allocate development resources to each of these teams in accordance with the roadmap and governance-approved strategy.
VP (Vice Heads): Core team heads will -at their discretion- appoint vice heads to execute and retain discretion over specific areas and teams. They will be selected and promoted from teams at the discretion of the Heads to work with and extend specific responsibilities. VPs report to their respective Heads. If a Head is unfilled, they will report to any available Heads in tandem.
Marketing: Marketing should include product marketing, content marketing, digital marketing, and work with other product teams to have consistent brand and marketing efforts across all business lines. The marketing team will cross-coordinate with other products.
Designers: UX and UI designers are responsible for building the frontend interfaces, iterating user personas, and designing user tests. Other areas include supporting marketing with marketing assets.
Frontend: FE devs should be responsible for implementing mockups as well as a deep understanding of web3 and developing apps that interact with smart contracts.
Solidity: Solidity devs are in control of the core functionalities of the product and ensure infrastructural compatibility with the rest of the product.
Business development: BD focuses on bringing the product to retail and institutions, as well as onboarding inbound leads.
Human Resources: Human Resources will manage relationships within the team(s), along with onboarding/offboarding procedures and salary/bonus structure.
Finance/Accounting: Finance/Accounting will manage funds and process payments within Wonderland. They will be responsible for monthly invoices as well as other expenses.
Procurement: Will manage all purchases and expenses needed to for the team to operate the Wonderland application as well as to put in place the growth strategy.
The leadership team will work together to develop and execute a roadmap. They have discretionary powers to allocate resources to the different product teams based on the roadmap and opportunity set. They also have the power to onboard contributors as well as set OKR’s for each contributor to hit.
All decisions will go through a vote between the Master Hatter, Master of TIME and Chesire Cat. This will ensure that all aspects of Wonderland and its products are represented in the decision-making process as well as prevent one team lead from taking too much power. In terms of offboarding, the Master Hatter will work with the leadership team for on and off-boarding but ultimately has the final decision on that process.
Wonderland Treasury Multisig
The operational multisig should remain under the current people assigned to it and must include the core teams Heads.
The core team should provide visibility and transparency of the people assigned to the operational multisig to the community no later than 2 weeks after the successful vote of this governance proposal and every time changes happen or are needed.
We see this proposed structure as an outline of what could provide scalability and transparency. However, it relies on the core team expertise to put in place a strategy, present it to the Governance and execute it.
If the majority of the Wonderland Governance if in favor of this proposal, a transition period of 1 month after the vote is recommended. During this transition, the core team Heads and extended team will:
- Create/modify and present to the community the Wonderland roadmap and growth strategy;
- Select and/or communicate (if already in place) to the community the extended team members;
- Develop and present to the community the 2022 budget which shall be subject to subsequent voting as outlined below;
- Any other items the core team deems necessary.
Additional Checks and Balances
To structure in accountability the following additional checks and balances are proposed:
Aggregate core team leadership (Heads and Vice Heads) will be reviewed by the Wonderland Governance one year after their original appointment.
Leadership from the core team will develop a yearly budget approved via governance proposal and by the community, to then allocate resources effectively to each area. If additional funding is needed during a quarter, leadership can submit an additional proposal for governance approval. Salaries, compensation should also be part of annual budgeting and proposals. It is up to the discretion of leadership to handle the dispensation of salaries and bonuses within the service collective.
Leadership from the service collective will develop Quarterly and Yearly updates for the community.
Leadership from the service collective will participate in Monthly AMA’s to update and hear from the Wonderland community.
Governance will continue to oversee the allocation of all Treasury assets. This includes overseeing all yearly budgets. This will include any DAO-level partnerships. Examples of this include the creation of the “Sports Betting Platform” to be launched in Jan 2022.
In accordance with this proposal, governance will now have discretionary power over the core team. This includes annual reviews of the quarterly reporting to be provided by the service collective.
Governance will also continue to have oversight on protocol modifications and tokenomics, including any changes made to TIME, MEMO and wMEMO.
Governance will have the ability to issue a mandate via governance to the core team. This restructuring proposal as well as a future Code of Conduct proposal will fall under this category.