DAO Call - September 1, 2021
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Summary Notes, Weekly DAO Call, September 1, 2021
Discussion thread and audio link for the DAO calls is: https://discord.com/channels/519860537891487745/876965243455164446/876966547481038858
Team in Attendance: Chris, Jesse
Members in Attendance: @ace, asiaexpat, Bree, DJSTRIKANOVA, lehoulme, Rochelle, splottingham
Roles: Call Moderator: Bree Recorder: Bree Proposal Tracker: splottingham
ANNOUNCEMENTS:
PROPOSALS:
DEADLINE August 20th 12pm ET! Orion Protocol EFX-USDT URGET MESSAGE https://dao.effect.network/proposals/71 Status: Active, Vote: Yes
Incentivised Program for Liquidity on Pancake Swap (part 2) https://dao.effect.network/proposals/70 Status: Closed, Accepted
DAO Call Recorder July ‘invoice’ request https://dao.effect.network/proposals/69 Status: Closed, Accepted
QUESTIONS/DISCUSSIONS FOR/WITH TEAM:
Foundation developed timeline/roadmap for expected DAO performance/growth. What would the Foundation like to see in the DAO to consider the DAO ready for more responsibility.
The Foundation/Chris/Jesse have had some discussions on this already, but there is fully defined as of yet.
Once we get to the point where the DAO is really having their own discussions, then it will be their way. But there is a lot of space for the Foundation to guide along.
The DAO is incredibly connected to the initiatives that are going on this year. So this is a step forward for the DAO. The DAO needs to be more active and have more users. This will come in a much deeper way as things move forward. The main thing about the DAO is not so much governance, but is about building the tech to move the project forward.
There will be all different parts to the DAO, just like there is in governments. However, the bulk of the activity will be in tech initiatives and improving and increasing the use of Effect Network.
Chris and Jesse will work at developing some tangible goals for the guidance of the DAO as it moves forward.
There are active DAO members who are ready to start organizing and planning for what the future structure of the DAO will become and it is important that this development stays in line with the Foundations vision for the DAO.
It is important to have a solid focus. So a roadmap is going to be important to help guide the vision and stay focus.
A proposal to create a mascot still needs to be done. Bree to put together.
“You need to appeal to people’s sense of self to make them spend… whether that is something that just looks very cool, cute, or speaks of the owners personality.” M. Dee
On the surface, this may seem like a fluffy proposal, fun with little substance. However, mascots are a way to connect to people. A successful mascot can bring people in who otherwise would overlook a product. They are a way to make something memorable and shareable. This is a proven form of advertising.
A mascot can be played with by members into meme’s. This can also be used to create NFTs, merchandise, and can be used to as prizes, or as ticket purchases, and other options.
A mascot would align with moving forward to encourage brand recognition.
SDK:
A set of 3 Medium posts are planned, the first has been released, this will provide updates for both the SDK and progress on the Effect Force update.
The first of these posts is found here: https://medium.com/effect-ai/tech-blog-effect-account-system-a3bd8dfe93d4
The next update is a little behind, but should be out shortly, hopefully by the end of next week.
There is a new hire that has been tasked with improving the Dashboard and working through the tickets.
If there are any requests for the Dashboard, create a ticket on GitHub, or let Jesse know and he’ll create a ticket.
Has there been any action to activate Effect Pieces with the increased activity in the NFT space?
There is a great deal of opportunity with the tech built for this project.
The UN are not overly focused on this, but are still very much open to this project.
Having this tech as a self-serve option. This code will be available for Hackathon participants as well, so there could be some really cool developments extending from this.
Creating more options for proposal types.
Community admin for Telegram
The Telegram chat needs to be brought back to life. It isn’t a moderator that’s needed now. It is life.
Chris feels like he’s ready to get involved in TG more now.
New members need to know his enthusiasm.
Old members need to see his confidence.
No hype! Just conversations about what is happening now, not what will happen in some future.
Snapshots of what is going on in the office.
Tattle tale quips of what Jesse did that morning. Etc.
Chris agrees that there should be more hired support. There needs to be an injection of engagement and some hired people around the time zones to support conversations.
The need is for active community engagement between the social platforms. To initiate and continue conversations. To assign fun or simple homework to community members – go to this tweet and bombard – do these 6 things daily to increase visibility – here is a fantastic fact go out and spread it… etc.
This really needs to get in place to build up the community enthusiasm with the upcoming hackathon.
The developers need to know that the community is behind the project they are investing their time and talents to.
The DAO is like a venture capital source for developers, and the DAO is the community.
New people learning about the platform get excited and this enthusiasm needs to be injected into the community.
LIQUIDITY INCENTIVIZATION/VOLUME:
A Medium article has been written about the farm. https://medium.com/effect-ai/your-comprehensive-guide-to-the-efx-lp-reward-farm-and-how-to-participate-a7344121ba7b
There has been little engagement with the farm though, more advertising needs to be done to get this out there. The APR is really good about 190% and people may get involved just because of that. But it needs more push.
The Tweets could be more about the farm. The APR should be listed to encourage people to participate.
Perhaps a banner on the Dashboard promoting the two pools, Orion and Pancake Swap.
Do we need to create another proposal to fund further rewards on the farm?
The farm is good for about a month and a ½, ends on October 8. We may want to extend the farm.
We will need to make sure this information is put out there.
When this contract is done the LP tokens will need to be manually extracted with the reward claim .
These tokens could be migrated automatically to a new MasterChef contract.
Liquidity about $500k would make this pool a success. Currently, the liquidity amount is about $82k.
So there is a real need to push this out with marketing to outside the community.
More funds are really required to make the end date longer.
Orion has spotlights that the team should apply for, they will look at this.
We may want to see about having EFX rewards on Orion as well.
Should the liquidity now placed on OP remain there or should some be moved over to Pancake Swap?
As OP gains traction there may be opportunity for the DAO to gain rewards from the pool on OP, as the Foundation is the largest provider. Currently, there is no benefit directly to the DAO, except one more option for liquidity.
Could the EFX be a reward on Orion?
https://trade.orionprotocol.io/pools/USDT-EFX
USDT / EFX pair
Binance Smart Chain trading of EFX
This is a DEX, sign in through Metamask - BSC wallet.
How can we take the greatest advantage of this?
Vigor:
Community member Lennie is really involved in Vigor and will look into what needs to happen with EFX for it to be listed with Vigor.
I have not yet heard back from Lennie.
HACK-A-THON:
The DAO really needs to focus on the Hackathon and ensuring that it is ready to go when the time comes.
The core of the proposals moving forward should really align with supporting the SDK and the Hackathon.
The team have their roadmap of tasks for getting ready for the Hackathon. Perhaps the team could put forth some proposals to get the community involved in supporting this initiative.
Jesse is still working on the templates for the proposals for the Hackathon. He is getting support from others who have had experience in hackathons. Once these are done, there will be more movement in putting the event together.
It will be much easier for the community to get involved after these templates are completed.
Chris and Jesse are planning to attend Web Summit in Lisbon to promote the hackathon, in November 1st – 4th.
What is the backup plan for reaching these potential participants if COVID-19 protocols shutdown the in person event?
Chris feels assured that this event will happen in person. Protocols are in place to ensure a major shut down doesn’t happen again.
The marketing tool kit is ready to go. Outreach is already in progress.
The main focus is to find talent to get involved.
Discussion about possible partnership with Moonlift liquidity.
Mikel will inquire with Moonlift.
Results:
Is it better to build one or two liquidity pairs on one platform PCS, or to diversify platforms?
Some more thought on this may be warranted.
We want to attract as many people to EFX as possible, without sacrificing too much spread and not getting anywhere.
HIGH GUARD:
Possible proposals:
vote Rochelle in
sentiment for voting in members (elections)
sentiment for automatically giving voted in HG members treasurer/multisig authority
Possible small group to work with Mikel.
Andre, Alan, Bree, and Mikel will work together to hash out some of these structures. That’s 2 HG members and 2 non-HG members. Will start September.
Determine the process of election
Outline multi-sig/treasurer role
Rules of conduct/etiquette
Duties and participation expectations
Process for discipline/removal
Determine if role of responsibility with compensation, and what type
Other?
If you would like to participate or have thoughts you’d like to share, feel free to reach out or leave a comment in the DAO Discord chat.
OPEN DISCUSSION:
Create a visibility list for the community- to post as a call for action.
More thoughts about our own NFT as an income generating project for the DAO specifically.
Would there be a way for the DAO to make use of the Effect Pieces tech to be income generating for the DAO?
What about making a partnership with the Neural Pepe team and their AI technology? This is a possibility. There is a good relationship with Neural Pepe developing.
Neural Pepe team is really happy with the Effect Network tech for their needs.
Having Effect Force to classify the AI derived traits of the Pepes will be really fun for the workers.
This is something that perhaps could be brought into the community.
Perhaps they could use their AI for our mascot 😊 Then our Force classifies them.
Research non-profit models for possible structure models.
Responsibility map
Create a workgroup
OLD DISCUSSIONS (tabled)
Discuss further with team about incorporating worker pay in perpetuity of trained algorithms.
Potential Proposals:
Confidence vote in current HG membership, with conditions set to allow for removals and additions
Giving the HG general Treasurer responsibilities
Funds for the MasterChef contract over the next few cycles.
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
Timeline
Proposals to the Foundation:
DAO Store start-up expenses
Hack-a-thon expenses
Tasks:
Create a proposal to have a competition for a memeable mascot
Clean up the Community Center Gitbook page
Listen to July 14th audio regarding future Foundation management
Vigor inquiry
Time zone proposal
Dashboard updates:
Reward calculator (P30)
Timeline
Token Flow Map (team should be working on this as per AMA discussions)
Worker of the Week into DAO dashboard (P29)
Filter system (DJ is considering working on this)
Ambassador TEAM google Drive
Discuss decentralized options or to create an interface to access IFPS storage
GitBook:
Guide on how to become a guardian
Recorder: Rochelle
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