DAO Call – April 14, 2021

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Weekly DAO Call

April 14, 2021

Summary Notes

Team in Attendance: Chris, Jesse, Rochelle

Members in Attendance: splottingham, JW, Polishholder, Alan, @ace, Bree

ANNOUNCEMENTS:

Tutorials for the Effect Dashboard and Binance Smart Chain

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

Status: Pending

Thanks go to JW for his masterful meme.

Proposals should be self-contained, requesting funds for the proposer to build.

Network fees: Just a reminder that you need to vote on all proposals to access full rewards

DISCUSSIONS:

Extending EffectDAO Constitution to clarify IP rights

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

Status: Active Currently: Abstain 33; No 19; Yes 2

  • Discussed how to make it work for the DAO – the DAO by default will own the IP rights, this might need to be clarified.

  • If you want to own rights you need to write it into the proposal clearly.

  • Was a big topic for the High Guard to discuss.

  • The proposal, as is, suggests the IP rights should be individually defaulted, but it should be the opposite.

  • People are voting no to having individual rights defaulted.

  • There could a statement making it clear that the DAO owns the IP.

Easter Basket

https://dao.effect.network/proposals/39

Status: Active Currently: No 247; Abstain 7; Yes 0

  • No one is voting in favour to giving treasury funds away for absolutely nothing.

Questions:

  1. Has there been any progress toward creating a comment area within a proposal or attached to a vote?

    1. No. Not important enough right now. Use Discord.

    2. It is a nice idea, and might be a cool feature to have, but there is no time from the development team to make this happen any time soon.

  2. Has there been any progress or decision made about linking the Friday worker of the week to Dashboard?

    1. No progress yet. This is a passed proposal, but there has not been any progress, the team is busy making sure the Effect Network is ready for developer accessibility.

    2. A developer could put a proposal forward to get paid for building the little dApps into the DAO dashboard.

  3. To confirm, the current cycle reward fee distribution is only the distribution of 30% of the remaining allocated treasury funds for that cycle. Correct? Yes.

Also, to confirm, the reward fee distribution should also include 10% of the collected Network fees. Correct? Yes. But at this time the network fees have not been built into the protocol.

    • Network fees should be built into the protocal and means that as projects go on, as work is done, as dApps are operating these fees will flow into the fee pool continuously. This is an important piece that’s being developed but that needs to be at the protocol level and it will be there soon. At the moment, network fees are not in the protocol level of the network.

    • We can use the blockchain to find out what fees that are collected up until now and has to be periodically added into the fee pool.

    • There is a protocol with the fee and that’s going to go into the fee pool.

    • There might be exceptions for specific dApps that are defined in their smart contracts we can’t yet know about.

    • There will definitely be back-reward pay that will be paid out to everybody who was present in the DAO at that specific time.

    • There is no specific timeline for when the protocol will be complete. The goal is to make this a technologically beautiful system and it will get done.

    • The goal at this time is to switch the Network over to Solidity and get things ready for new developers to jump in.

    • Forward moving thinking EOS – BSC – ETH (The game is a-foot!)

Other dApps build outside of Effect.AI BV on Effect Network are not held to 10% (This is a promise by Effect.AI for Effect Network). However, the DAO could put forth a proposal to preset a % of fees for all dApps being built on the network.

  1. There is a desire to see more marketing within the community. Especially surrounding technical, fact, stats.

    1. Especially regarding ‘catching this bull run’ (short term) Is there something the DAO could be doing to support the team in this?

      1. Yes. Put in a proposal and create marketing material, request funds.

        1. Videos, written articles, visual media, content

    2. Team is working on building the tech – price is important – but the focus is on building out and in infiltrating China because that market is huge and BSC is attractive to the Chinese market. Marketing will pick up appropriately to developments.

Open Discussion:

1. Make sure to use powerupeos.io for resources for EOS transactions.

(Anchor does seem to have fuel available when actually signing transactions.)

  1. 10% network fees

What are the metrics for the fee calculation? This seems to be a black hole of knowledge that people are wanting to have.

  • First the protocol level needs to have its final update, this is planned for full operation within a few months.

  • There could be an agrigator made

  • efxrequester account will have the information about the transactions made

  • There will be a distribution for the fees that are due now out fairly quickly.

There could be a minimal amount of network fees set by the DAO – a developer might define the fee that they’d want to do. Right now it is open. However, it doesn’t make sense yet to put this proposal forward because only Effect.AI is currently the only one building on TEN.

The logic of how the fees are set. There is the distribution of 10% of the fees that goes to the DAO, the rest goes to the worker.

  • The goal is to create value in the real world. So the developer should to earn money from the dApps performance, and the dApp pays a fee to the network, whatever that fee is. – 10% split of that fee, whatever it is, goes to the DAO – 90% to the worker.

. There have been code audits already done on:

- stake pool – very sensitive contract - the most funds are there.

- Token swap

- EFX token

- many essential contracts have been audited

Some contracts are more experimental, some are being deployed.

If a dApp is going to be mission critical, has it’s own smart contracts, and maintains a lot of funds it will need to be audited by an outside agency.

The results are available.

  • Write up, not in detail. Just a short write up to give confidence to investors

Question: Which contracts have been audited? And by which auditing firm, firms if not all the same?

  1. There are many Chinese tasks getting put onto Effect Force for workers. Effect Social tasks are being created for the Chinese workers.

  2. Marketing will pick up after BSC is implemented.

  3. Watch out for intermittent pirate tasks for those who have the qualification.

Past Items:

  1. DAO call to be run and managed by DAO members.

    1. DAO members run all calls – A volunteer member could agree to lead the call at the start or this could be a position of responsibility and have a reasonable pay attached to the role.

    2. Calls are written up in summary notes with enough details to understand the discussions, but not so detailed as to be cumbersome. This would be a position of responsibility and should have some pay attached. (At some point I will likely put a proposal in to this end.)

    3. Core Team joins in the DAO call 1x/month to address proposals and other DAO related items.

      1. To give team perspective to new, pending, and active proposals.

      2. Not an AMA about all things Effect. Any open questions or discussions are strictly speaking related to the DAO (proposals, rewards, dashboard)

    4. Team members joining in DAO calls that are not a “Core Team Day” are attending as DAO members at large – not as team representatives – and are given the respect of casual, non-demanding discourse, as would any other member.

  2. The ‘old’ Ambassador group, or the intent of that group, is what the DAO is intended to be.

    1. Create passionate, intelligent, well-thought content for Medium, Voice, and other blogs or related platforms.

    2. Put in a proposal to be reasonably compensated.

    3. Suggest starting with a previously crafted work to create a proposal around and begin developing a reputation – to then later request funds for work not yet crafted.

Closed Proposals:

Proposal 37: A guide on how to improve security by using a Ledger hardware wallet

https://dashboard.effect.ai/proposals/37

status: Closed. Executed.

Proposal 38: Set proposal submission cost to 10EFX

https://dashboard.effect.ai/proposals/38

status: Closed. Rejected.

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