I was thinking about how we should form a governance structure that is efficient and maximizes long term value for stakers of TIME/MEMO. I believe that building shareholder value is a team game and with our ever growing community, we must find efficient ways to harvest the braining power of everyone. To do that I think we should be forming teams under the DAO. Each team is responsible for different aspect of promoting and enhancing the entire protocol. Be it investment related, operational, or development, having teams allows us to build goals that are specific and targeted.
Team Structures:
Within each team, there should be additional organizational structure formed. Whether there is 1 person in charge or multiple depends on the teams ultimate objective. Any new stakers of TIME/MEMO can apply for positions within each team.
Incentives:
People who are part of and contribute to teams should be rewarded more than people who don’t. Therefore I propose we have different dividend tiers for stakers. Additionally, to promote healthy competition between teams, we should have some form of bonus every month, quarter, etc. All this should be voted on. This leads me to something I’m still thinking about…which is: should everyone have the same voting power? I don’t know the correct structure. But one approach I’ve seen and done myself is a voting structure where individuals part of a team can only vote for others but NOT themselves. This makes everything think about everyone elses contribution. This can be also be structured so that teams can also vote for how well they think other teams have performed. (may not, but just an idea)
Team Ideas:
Investment Team: Within the investment team, I think we should divide in to themes or approaches. Ie)
Yield Maximizing: focus on generating yields on our assets. Curve, convex, LP, cross chain, etc.
Venture Capital: this is broad but we can subgroup this further in to GameFi, new projects, NFTs, etc.
Dev Team, which already exists, can work closely with other teams in implementing new tools to facilitate the development of the DAO.
The above are all ideas I’ve been thinking about recently as we approach the next iteration of wonderland. Some are probably bad while some may be good. Love to hear what others think.
I think having a structure is a good idea. After all, it is natural that only a few people will be active participants of the DAO.
However, I am not sure if it is good to reward the most “active” users. For instance, someone holding lots of TIME is providing a significant amount of help to the DAO, even if not actively working on things.
I like the voting system you suggested.
Before moving on, I think it would be a good idea to have a clear picture of what the Wonderland team is already working on and how many people are involved. A sort of inventory of the talents we are lucky to have on board.
I’m gonna throw this under here to start. What about hiring a kind of community manager, to borrow a term, or a DAO director. Somebody really good with people, including frogs, and with a reputation in this area.
We have Sifu now, and though he’s doing a great job with all the AMA’s, I think his time could be better served focused on finances and performance without the added pressure of keeping up with this every day. We could use somebody heavily focused on socials/discord/DAO leadership. To help keep things productive, get members educated, form and guide these other structures, etc… Wonderland news and announcements right now are few and far between, for example. Things do not feel very goal oriented right now.
Then again maybe people don’t like the idea of having an individual in this kind of role.
Yea, “active” in my opening post is really vague and its because I haven’t figured out whats the right way to measure performance. This is hard because I believe every team/group should be measured differently.
But I think we can both agree on the amount of time held is not the only way to be rewarded. The point I want to make clear is even if you hold a small bag of time, you can earn more rewards if you contribute to which ever team you are part of. It allows mobility regardless of how rich you are…as long as you work for it and promote and add value to the DAO.
