I currently have the pleasure of being considered for the DAO Lead position for our new DAO. As this will ultimately be a community based role, I wanted to get the community’s input on several ideas. To help you get a feel for what I would be like in the position, I have written a loose proposal for what I plan to do in the role, at least initially. Feel free to comment here, and express any opinions you might have, before we have a vote later next week.
Currently, I’m slated to start in the role before the DAO is finalized. As such, my first job will be assisting in setting up the DAO and its governance structure. As discussed here, the comunity is looking to use the Tally dashboard with the Compound Governor in order to enact changes in the DAO. This combination is an industry standard with verified effectiveness. However, it’s been found that the Tally dashboard only supports single token voting, where our community has previously decided to use both FLX and stFLX as voting tokens. I’ll work to the best of my ability to get multi-token voting, either through a modified Tally Dashboard or another governance system with verified effectivness.
It’s important to note that this won’t effect our current timetable for establishing the DAO. If I’m unable to find a solution in time, we’ll lauch with single token voting and then I’ll make it an ongoing goal to find a way to transition to multi-token voting.
Everyone’s favorite part, and what will likely be the bulk of the work in the beginning. It is my opinion that the best use of RAI will be as a stable unit of account for DAOs. As such, most of my focus here will be integrating with DAOs so we become their stable coin of choice. I have some experience in this area, being the person that got MetaGame to use RAI as the stablecoin of choice for their pool. A few other DAOs that we could approach(to start) are:
- Responsible for putting on EthDenver, and now starting a VC (Bufficorn Ventures), they’re going to need a sizeable treasury secured against volatility.
- They could probably use a stable coin to support their treasury
- Currently use DAI for their payments.
- Very active members on Gnosis Chain. Getting their support could help us make significant in-roads on that Chain.
One of the core promblems we have with DAO integrations is that many of them have moved off Ethereum L1 onto other chains where we have limited liquidity. I will propose that the DAO primarily focuses incentives on L2s and Sidechains to increase liquidty there and win DAO support.
- Pitching themselves as the “DAO Chain”, we obviously want to be heavily involved here. I’ve also heard that they are interested in RAI, and have already included RAI on their bridge. We just don’t have a good liquidity pool yet. Curve is the obvious option, but having not heard from them, I’ll look into others as well. Incentivising a pool on 1hive’s Honeyswap could be a good choice as it would curry additional favor. I’ll also talk with Balancer about moving to that chain. Balancer’s option to do a three token pool is a great advantage for DAOs because they can have their token backed by both ETH and RAI.
- As has been discussed in the Discord recently, Optimism is a great new opportunity, as we expect their community to be alined with our ethos. They are also looking to grow the number of protocols and assets they host on their infrastructure, so I think we can submit proposals for them to incentivise RAI use cases.
- I believe those two chains should be our main focus, but I’d like to see more liquidity on Polygon as Balancer and several key DAOs are hosted there. Pangolin on Avalanche was also a fairly early RAI supporter, so it would be worth looking into further efforts with them as well.
I’d also like to see easier methods for moving RAI between chains. There’s potential to create and document Keeper style bots that can arb RAI across chains, and I’d also work to make sure RAI is an easy to find and use option on major bridges.
Although I don’t think it will be the primary use of RAI, and will be more suited to Friendly Forks, I would like to see more use of RAI for payments. I’ll look into integrating with the Coinbase Commerce system (which currently uses DAI and USDC) as well as additional fiat crossovers like Binance.
The DAO should look to onboard an Integrations Lead whose sole focus will be on adding RAI on new platforms and chains; including and beyond the ones mentioned above. I also believe that the DAO should onboard a Community Manager and a Technical Specialist/Developer who can focus on helping RAI Friendly Forks to launch successfuly but also on other areas such as potentially hosting a custom governance UI that can handle voting with two tokens.
The Community Manager will be important in helping to mantain an active and engaged commmunity, which will lead to an active and healthy DAO. The RAI community is one of my favorites in the space because it has amazing big-brain active members. Some of the best ideas for RAI have come from our community already, and I’ll be needing their advice to guide me and our DAO.
I’ve also been thinking about onboarding someone to take care of marketing. I want to wait on this position and see how well we’re able to integrate and grow the platform first. It may also be more efficent to do one off campaigns as opposed to having someone constantly focused on this area.
It is my position that the Money God League is the greatest strength of the RAI/Reflexer platform, and will be key to our long term growth and success. RAI is designed to be incredibly secure and immutable, and so has limitations that are best overcome by the flexible nature of the Money God League.
One of my principal foci would be to look for and cultivate any promising project in this regard. I even have a few ideas of my own that I’d love to see implemented. The RAI/GEB codebase is extremely complicated however, and is why I feel it’s so important to have a full time technical expert that can assist with implementations.
There are a lot of other ideas that I have for the DAO, that I’d love to see depending on how we evolve. To name a few however:
More Cool Swag
- Nothing brings a community together like cool swag, and it’s also good advertising.
Grants and Sponsorships
- I’d love to see RAI in more high visiblity places, particuarly sponsoring things like conferences. It would be great to get more exposure, and can really win over some DAOs. Depending on how we grow, we may even be able to issue grants to grow the spaces we’re heavily integrated in.
- With the growth and focus on MetaVerses recently, it may be interesting to have our own space. I’m not sure if it’s a need/interest, but it’s something I’d look into.
- RAI has the best Meme with 1 RAI = 1 RAI. We need to keep this up.