DAO Call - June 16, 2021
Agenda, Weekly DAO Call, June 16, 2021
Team in Attendance: Jesse
Members in Attendance: @ce, Bree, DJSTRIKANOVA, howard k, Rochelle, splottingham
Roles:
Call Moderator: Bree
Recorder: Bree
Proposal Tracker: splottingham
ANNOUNCEMENTS:
PROPOSALS:
Role of Responsibility – Formal Role Creation - DAO Call Recorder http://dao.effect.network/proposals/49 Status: Pending
This sets rules and expectations for the role.
Seeks to officially create a role with responsibilities
This role is expected to come with compensation to be set out by or for an individual taking on the role, with approval from the DAO
DAO Call Recorder – Application to fulfill the role http://dao.effect.network/proposals/50 Status: Pending
Formal Role Creation (P49) must pass before this proposal can be passed.
This is essentially the DAO hiring Bree to officially fill the role of DAO Call Recorder.
DAO Call Recorder ‘invoice’ for May 2021 http://dao.effect.network/proposals/49 Status: Pending
A proposal could be made to be pre-paid for a set amount of summary notes.
At this time, it is Bree’s preference to request funds for work previously completed.
DAO Gitbook Proposal Tracker https://dao.effect.network/proposals/45 Status: Processing
Proposal Tracker Term C13 through the end of C20 http://dao.effect.network/proposals/46 Status: Processing
Adding liquidity to Pancakes Swap http://dao.effect.network/proposals47 Status: Processing
QUESTIONS/DISCUSSIONS FOR/WITH TEAM: (DAO related, not AMA)
Progress regarding BSC and Pancake swap.
Liquidity competition
Right now Pancake Swap is not really being used. Having a competion would be really good.
Incentives for liquidity
There is a current proposal and there will be coming out soon to creative incentives for staking
Jesse had discussions with Mikel, who really understands liquidity pools
ATM, there are no updates other than a proposal is coming soon
This may address putting funds into the pool from the DAO
Jesse has offered to help with any technical builds required for incentivising liquidity
Rewards from Defibox?
There are not enough trading fee rewards on Defibox to warrant doing anything with them, as there are no mining rewards.
What fee rewards do accumulate stay in the pool
Can look at this in the future should this amount increase.
Progress on entity description write-up (Foundation, BV, DAO, Network)
Jesse will write up an article describing these entities before the end of the month
He will give a rough draft to Bree prior to publishing in Medium
Bree will advise if there needs to be further explanation or if it is complete
Hack-a-thon
Should a planning committee be put together?
This committee need to have a leader to keep it orgainzed and managed
A call could go out to the community to see if anyone wants to join in the planning for a hack-a-thon.
Thanks to DJSTRIKANOVA for volunteering to create and lead a sub-group
He is the best person for this role, as it is his original vision and sees the bigger plan
Will have the Hack-a-thon as an ongoing topic in the agenda for the DAO calls, and will ask for updates from the sub-group to be presented
Is the Hack-a-thon a DAO event or an Effect.AI BV event, or both?
Is this a matter of who is sponsoring the event?
The Hack-a-thon is really about the development of Effect Network
If there is prize money it may come from the DAO or from the BV.
The dashboard could be modified to support or access the hack-a-thon
The DAO would have a page where voters could see the projects and vote with like a thumbs up or down, or perhaps a rating out of 10, or something
The users could go to a web page and see the projects, learn about them, and vote on them. The winners with the most votes get the prize
The vision includes regular hackathons, not a one-time thing, this could be something done every other month, every three months, or every quarter. This way the impetus is constant for developers to participate and create different types of projects. This way they might stumble upon something that gains tractions and then this might be expanded upon to be started upon.
The prize pool will need to be substantial but won’t need to be crazy high. If it is frequent, we may need to experiment with the prize pools.
There could be a bounty for larger projects.
There needs to be measures in place to not allow for cheating just so they can win a prize
To begin with, the DAO rewards them just for creativity and utility even if it won’t be used.
DAO members should be involved in voting on – vote for the preferred project
Creative non-developer DAO members to meet developers in Discord to present ideas that developers might work on in a hack-a-thon
The whole notion for decentralized work, API, is the real killer app. Once people are easily able to tap into the app without worrying about anything else will be really powerful.
Splottingham and DJSTRIKANOVA will work together to create a separate place for working out the hack-a-thon. Something to work on and pass through the DAO
Suggestion to look at other hack-a-thon’s to see what their rules and guidelines and pick and choose what is best for our needs.
The sub-group will provide the DAO updates on the calls.
Progress update on SDK
Being seriously worked on
These will be the first released in a test net environment
Better transaction model
Fee collections
The team is really looking forward to when they can share in a test net environment.
They will release this hopefully really soon, working hard to get it to the point of releasing for feedback
How is the progress of migrating Effect Force over to BSC coming along?
It’s progressing – can’t really say too much about it at this time
Working hard to get the package done and ready
Will be released as part of a package of updates that will include:
Effect Force on BSC, in a really decentralized way
Automated network fee rewards
Automated client uploads to Effect Force
SDK
Community interview AMA – update
Will use Discord for the platform, Rochelle will create an open public call channel, that can be moderated and recorded
Jesse will talk with the team for a date and time, for next week or the following. Tentatively thinking during a DAO call time, either the 23rd or 30th.
Questions will be pre-issued to the team before the weekend so they have time to prepare responses
The team has been asked to pre-respond in writing
This pre-response will go into the written document, then tweaked as required based on the live event
Any questions still pressing after the event will be readdressed in writing, then updated to the written document.
Final draft will be posted to the DAO’s GitBook.
OPEN DISCUSSION:
Other voting options for proposals
Voting yes/no/abstain is not always suitable
Reference example: Defibox has other options
There are some proposals where the DAO would be better to make other decisions than yes/no
It would be good to have options to have selection choices,
a proposal may be more like a poll for sentiment
or percentages of something, preferences
rank choice, putting in order of preference
Could be used to narrow down vote options, choice of 4, then top 2 and revote with choice of the top 2
provide options for people creating the proposals to select which type of voting option best fits their proposal outcome goals.
Dashboard calculator
What is being worked on currently, is basically a tool that shows you based upon how you voted this cycle what is your projected rewards.
Waiting until the cycle ends to see if the algorithm is close to what the actual reward is….
Unless you’ve reached your maximum vote power, you are always going to be gaining vote power every day.
It will be useful for people to know how much could be projected to get in rewards, and is it worthwhile updating their vote to improve their rewards.
If you vote on cycle day 1, is it worthwhile revoting on cycle day 7 because your vote power has been increasing every day.
Giving an APY% is not practical, but working in a cycle makes the calculator most accurate.
A fully complete calculator would be nearly impossible to create due to the unpredictable amount of transactions.
A solution is to base the calculation for rewards upon the updated funds going into the Fee Pool, as this is where the network fees are going.
Figure - Work in progress. UI will likely be changed. This gives an idea of what the calculator will be.
Challenges to Proposal #2, Effect merch store
Was almost prepared to launch proposals, but
The price of EFX is so low right now, that the amount of ask needed in $ will be too high for the amount of EFX available in a cycle.
Looking at other possibilities for funding
Looking at working on breaking the proposals up into even smaller parts
Community TG bots
Jehudah and Rochelle are working to get the bots more feasibly timed.
Laurens has an old bot that he needs to turn off. This bot is recycling one of the new bots and making for congestion
There are two gifs being posted on a timer that need to be stopped, these are not team bots. The poster may need to be muted.
They are considering reducing or eliminating the bots over the weekends
The bots are necessary, but do not replace the need for 24 hour admin presence.
OLD DISCUSSIONS (tabled)
Discuss further with team about incorporating worker pay in perpetuity of trained algorithms.
Discuss a system to subsidize or support resource fees for DAO members.
Potential Proposals:
Dashboard update for hack-a-thon
How to become a guardian guide
Using Effect Captions to update community made guide videos. Especially videos with lasting relevance. Could be used to promote Effect Captions.
Would need to include the quoted price points in the proposal
What languages would be prudent to put into the closed captions
English only would be about $20
Developer costs for dashboard improvements
The community developer group
There will likely be a proposal mapped out with multiple phases.
Before the proposal is put forth they need to decide how to arrange for taxes and other dynamics related to payments
Proposal for opensource the product
Timeline
Tasks:
Dashboard updates:
Reward calculator (P30)
Timeline
Token Flow Map
Worker of the Week into DAO dashboard (P29)
Create a sub-group for brain storming. – attendees not yet enough to warrant a smaller group
Ambassador TEAM google Drive
Discuss decentralized options or to create an interface to access IFPS storage
GitBook:
Guide on how to become a guardian
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