DAO Call – April 28, 2021

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Weekly DAO Call

April 28, 2021

Agenda

Team in Attendance: (not a team attended meeting)

Members in Attendance: @ce, Alan, Bree, phankeys

Roles:

Call Moderator: to be selected at the start of each call?

Recorder: Bree

Treasury Reporter: to be discussed

ANNOUNCEMENTS:

Questions for the Team:

  • Can The Weekly Effect include new proposals and updates to closed proposals?

  • Is there a finder’s commission still for those who bring requesters/clients to the team?

  • What is the current plan for NFX?

  • When will the 10% Effect Network fees be distributed?

  • When will the mechanics for network fee distribution be implemented? (we see this is a priority)

  • Is there a plan for full automation for requesters to access and utilize Effect Force?

    • The original presentation of Effect Force was to have no middleman, requester to worker – results to requester. Does this remain the goal for Effect Force?

      • This is important to know in regard to new development, and emphasis on an important social good/equity model vs a traditional business model.

  • Is there an Effect Network gallery space connected to Effect Pieces already in the works?

  • How are the cycle rewards calculated right now? They seem to be mathematically the same, the total distribution seems to be exactly the same.

  • What is the 10% Network Fees based upon? Is it 10% of the EFX purchased or is 10% of the $ value at the time of purchase. Is it 10% of the entire amount that is paid by the requester? Or, is it 10% of the amount paid to the workers? Or, is this the same thing?

Questions:

  • What are the updates for proposals:

    • 36, cause and effect video (yes/executed)

    • 30, estimated DAO reward calculator (yes/accepted)

      • Not a priority for the team to build

      • The person who makes the proposal needs to have a plan on how it will be built before making the proposal active

    • 21, NFX listing (abstain/accepted)

  • What do we want the DAO to become?

    • Should we have a sub-group working on this – to report back in the general DAO calls? Do we need a sub-group at this point? Current calls are low enough in attendance.

    • Just how autonomous can the DAO become?

      • Where technically might this simply not be possible?

Proposals (Active, Pending, and Newly added) for Discussion:

Tutorials for the Effect Dashboard and Binance Smart Chain

http://dao.effect.network/proposals/40

Status: Active, Vote: Yes

Blockchain Cold Wallet Safety Guide – For BSC & EOS

http://dao.effect.network/proposals/41

Status: Pending

Potential Proposals (to be discussed):

  • Any developer or business to build on Effect Network must become/be a DAO member.

(and their dApp idea approved by the DAO prior to building).

  • Moving the DAO away from EOS should respectfully be approved by guardians first.

  • Network fee amount for future dApps be subject to a preset fee.

  • NFX to be moved over to BSC/Pancake swap, or not.

  • DAO built dApps to generate funds for the DAO.

    • Brainstorm session, any potential results put into a proposal for approval

Past Items for Discussion:

Extending EffectDAO Constitution to clarify IP rights

https://dao.effect.network/proposals/25

Status: Processing; Result: Abstain

Should a proposal be drafted to have the constitution explicitly state that IP rights belong to Effect Network, unless otherwise stated in the given proposal? Is this necessary?

  • Assuming the inevitable protocols are implemented, backpay has been completed, and 10% of Effect Network fees being paid by Effect.AI’s dApps run smoothly, dApps built on TEN by other businesses have not been explicitly included in the 10% fee base.

    • The DAO should consider a proposal to implement a base 10% network use/transaction fee by any-and-all future dApps?

      • Hold off on this, Jesse is not yet ready to work on the tech needed for this.

Discussion:

  1. Just as it is important to have the calls recorded, for the record and for those who are not able to attend to be informed, it is also important to have an accessible account of the movement of funds into and out of the treasury. Much like having a bank statement of income vs. outcome. This will promote transparency and will lay the foundations for DAO management should the DAO become increasingly self-sufficient.

    1. This should be a volunteer position at first to establish trust and reliability, but should, as any formal managing DAO position, be a paid position ‘hired’ by the DAO.

    2. Anyone who has experience in a board position of a charity, not-for-profit, or managing board should already know the importance of this position.

    3. At this time there are no funds being managed directly by the DAO, but this could potentially change.

  2. We had a very long discussion about whether or not the Core Team should be present on all DAO calls or only some.

    1. Discussion from today concludes that the DAO is not mature enough to support calls without team presence.

      1. This also applies to the High Guard, even more so with the HG.

    2. It is too soon for the team representation to be missing for 3 calls in a row.

    3. We need a communication bridge with the team, so either a communication liaison that knows what is going on with the team or a team member directly.

    4. On reflection having the team join only once per month is not reasonable until Effect DAO becomes more autonomous from Effect.AI.

    5. It is really important that the creative ideas generated in the DAO calls have input from the team. Especially while Effect Network is still undergoing development of the basic protocols.

Suggestions:

      1. Laurens, Chris, Jesse, all three together, attend at least one meeting each month.

      2. Chris, Jesse, or a Core Team communication representative, attend an additional two meetings together as team representatives.

      3. One week per month there is a community call without official team representation (all are welcome, but as DAO members not as team). To allow for candid DAO member discussions.

    • If a Team member is absolutely not able to attended a scheduled meeting, that the DAO/HG be notified in a timely manner.

  1. Is there a conflict of interest with the team, with Effect.AI BV and the management of Effect Network?

    1. At this time Effect.AI BV are the custodians of the product they built, which is Effect Network. They have built other businesses/dApps that run on Effect Network as well. Effect Force is the main driving force on Effect Network.

      1. Should Effect.AI BV continue to be custodians of Effect Network, then TEN would remain in essence a centralized network.

      2. Should Effect.AI BV continue to build out TEN in such a way as to be self-sufficient and self-managed through the DAO, then TEN could become truly decentralized.

    2. Effect DAO has the potential to become a decentralized custodian of Effect Network.

      1. If all businesses/projects building on Effect Network were required to be DAO guardians either buy individual membership or by a collective/business representative membership, then the DAO would have representation for all dApps built on the Network, and could be self-governing and self-custodial.

      2. Additionally, all dApps built on Effect Network would have a self-interest in managing TEN.

    3. More discussion on this, with the team, is required.

  2. It would be prudent for the team to share their ideas for the future of TEN, and for sharing some of the DAO guardian’s ideas with them.

    1. Without enough sharing of ideas, then there could be proposals put forth that are conflicting or redundant before they even come to a vote.

      1. Example a proposal went forth about wrapped EFX, when the team had other plans that really made this proposal redundant.

    2. At the very least, the team needs to give their input into ideas that the DAO comes up with. While the DAO is really under Effect.AI and not independent of the team.

  3. We need some more information from the author of Proposal #18 for clarification of intent.

    1. Trying to support start-up businesses on TEN with a social good focus.

    2. This sounds like it is in line with our values.

    3. Where is the pool coming from?

      1. Is the pool building up from 30% of the remaining cycle allocation?

      2. In addition to the 30% reward distribution from the remaining cycle allocation?

      3. ?

  4. The 10% Network Fees are not yet functioning as the should be, this is still needing to be built into the protocols. When the reward fees are going into distribution smoothly, working smoothly, the 30% reward distribution from the remaining cycle should be stopped and redirected into dApp development.

    1. Until this function has been implemented there will continue to be challenges and difficulties.

  5. Once all the BSC build has been done, the documentation has been made, the hack-a-thon is done, development on Effect Network will begin.

    1. The DAO really needs to consider some proposals regarding:

      1. Joining the DAO before building on TEN

      2. Setting fixed % of network fee by any/all future dApps built on TEN to be given out in reward distribution.

    2. Getting the tech development done for the reward distribution needs to be a priority as soon as BSC has done.

  6. Once there has been enough documentation so that developers can start creating: TIMELINE/TASK LIST – These should not need to be proposals. Just suggestions to the team that are implemented if the team agrees that they are good suggestions.

    1. A Timeline added to the Effect DAO dashboard would be a nice addition.

      1. to update Effect Network progress, updates to be done by the team.

      2. What has been paid out, what is coming up, what has just been done.

    2. A Job Board on dashboard would be really helpful.

      1. If you have found someone to get a job done, then you check off the task

    3. A calculator for figuring out reward amounts per cycle

    4. These are jobs that really need to be done by the team at this time.

    5. Searchable function for DAO members.

The role of the DAO is that you can offer services and paid for it, we can do that.

  1. Effect DAO role:

    1. Getting new partners for Effect Network

    2. Getting new dApps built on Effect Network

    3. To change critical ‘stuff’ corresponding to the DAO.

    4. All the inside stuff to the DAO should all be resolved by the team itself.

  2. The best thing for EFX is for it to be a stable coin, especially for the workers.

    1. Stable high income generating clients should promote stabalization.

    2. gEFX would get an explicit value of about 8c (random choice amount).

      1. if EFX is lower in the market, someone should buy on the market

      2. if EFX higher in the market, then someone should buy on gPool.

      3. Is gPool being replaced by Pancake Swap/liquidity pool?

Tasks:

  • Create a sub-group for brain storming. – attendees not yet enough to warrant a smaller group

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