DAO Call - September 22, 2021
If you are unable to join, an audio recording and a discussion thread will be placed in Discord under DAO Calls.
Please participate in the discussions – on the call or in the thread.
Summary Notes, Weekly DAO Call, September 22, 2021
Discussion thread and audio link for the DAO calls is: https://discord.com/channels/519860537891487745/890278186749923359/890278453960638495
Team in Attendance: Jesse, Chris
Members in Attendance: @ce, Aranmar, Bree, DJSTRIKANOVA, howard k, Rochelle, Rod.Efx, splottingham
Roles: Call Moderator: Bree Recorder: Bree Proposal Tracker: splottingham
ANNOUNCEMENTS:
Rochelle is putting out an appeal for Discord users to contribute to boosting the server through Nitro.
PROPOSALS:
No new proposals as of yet.
DAO Call Recorder for August 2021 https://dao.effect.network/proposals/72 Status: Processing
QUESTIONS/DISCUSSIONS FOR/WITH TEAM:
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
Second tech blog: https://medium.com/effect-ai/tech-blog-on-chain-microtasks-6e8bb82c8e1d
What updates to the dashboard have been completed?
Noman has been working on dashboard updates and there will be an announcement soon.
Noman has been making good progress through the GitHub tickets, just waiting on the code to be reviewed now.
Voting comments and added links
Other updates
The Discord is having an update to the DAO to make it more helpful.
Noman is also working on giving some updates to Discord bot.
Notifications for proposals ending/starting
Notifications for the DAO calls starting
Ability for a proposal author to create a discussion thread in Discord for the proposal.
Give an overview of the cycles, etc
pTokens has closed the bridge, due to a hack on pBTC. The bridge should be back open soon.
pEFX/EOS bridge was not impacted, the close is for security checks and updates.
pToken team communicated very well with the Effect.AI team.
The hackers managed to trick the pToken BTC bridge software into thinking deposits were happening, specifically for BTC. The fake deposits allowed the hackers to withdraw tokens.
This could have been any of the bridges. This this was quite scary.
According to pTokens the BTC bridge was the only bridge that had this security flaw. All the other bridges are secure.
Chris says he’s strongly focused on getting the word out there.
He has interviews to hire additions to the marketing team.
Focus in the socials and chats the positives that are happening and have happened
Override/drown out negative comments with positives
It is important that new members joining are presented with short concise answers that are framed in a positive light.
Sarcasm is not helpful to build up the community.
The DAO is like an accelerator for development.
Marketing needs to focus on gaining new community members and gaining developer involvement
Not informing the current community of news they already know.
The main marketing needs to be for the larger crypto community. It is at it’s essence a crypto project.
There needs to be initiatives around the DAO for promotion of the DAO.
Netherlands’ Prince Constantine just reached out a few weeks ago and asked the team to be a part of new program.
One of the only startups from StartUp Delta held a few years ago that are still around and capable of scaling up.
This program starts October 22nd.
There is a great amount of excitement in the team for what’s coming up.
LIQUIDITY INCENTIVIZATION/VOLUME:
The end date for the farm is October 8th, 2021.
Are we going ahead with a proposal for another MC?
Yes. Jesse will put forward a proposal with a longer term for the DAO to approve.
Approval rate will need to be around 95% in order for it to pass due to the commitment required for the reward funds over more cycles.
Jesse will need to confirm with the Foundation that they will match reward contribution. He assumes they will approve this.
Reasons to go ahead with another MC:
Sales could have a stronger effect on the price of EFX without the pool.
Motivation to contribute to the BNB/EFX pool.
How can we improve the amount of staked tokens in the pool. This needs to be increased.
The rewards are quite good.
The price of the rewards increase as the price of EFX increases.
The duration needs to be longer to provide some security in the stake.
A 6 month duration would be more encouraging.
There needs to be an increase in visibility
It would need to be well advertised that the LP tokens will be released and need to be restaked into the new MC.
If we could get about $100k liquidity for about 4k in EFX rewards then this would not be too bad.
HACK-A-THON:
Jesse just had a meeting with the team and they have decided to put the hackathon on hold for a bit so to put in a big pressure on their time to get the SDK finished.
By the first of October there should be a rough proposal with the dates and the funds required from the DAO and the Foundation.
This should have a draft of the organization.
In October we should be having discussions with the DAO about dates and prize money and judging criteria, perhaps a topic.
Perhaps an AMA closer to the end of October to address any questions that arise.
HIGH GUARD:
Small group: Mikel, Alan, Bree, Andre
To meet this month, channel created in Discord.
This is not a priority, just something to have a plan ready for when it does become more of a priority.
Needs to align with the Foundations vision.
See the chapter blog posts in Medium.
OPEN DISCUSSION:
Rochelle has a proposal to put up for this cycle.
Nothing exciting she says.
Strategies to improve DAO call participation.
What happened to the different time zones?
There was much discussion on this, but in the end no one wanted two calls in one day and alternating time zones each week was not liked.
So the decision was to keep the current time and provide an audio recording and a discussion thread.
Thus far the discussion threads are not being used, but people are listening to the recordings.
Make the calls more engaging or attractive for people to join in.
Perhaps a NFT given for attendance?
This could be really great, figure out how to create this POAP bot/NFT
Incentivization may not be encouraged
Or an NFT prize
Using Discord itself might be an issue. People may not even know how to join in Discord.
Perhaps we can make the call public so that people can listen without participating, listen only. But must be a DAO member to actively join discussions.
Could change the weekly call to a Stage Channel.
All DAO members could have a moderator role for that Stage Channel.
Will do a Stage call for next week.
Give an announcement the day before, one 30min before, and one when it’s live.
On the announcement give a few time zones for reference.
Mascot
Bree is still working on a proposal for a mascot creation competition.
Marketing response from Chris is still not very clear on who the target is.
Are we really marketing to developers? Or are we just trying to make people aware? Or we are trying to bring in workers?
We can’t market to developers until after the SDK is done.
We can’t market to workers there isn’t enough tasks.
We really can’t do much more than market the token right now and build up more community.
Shouldn’t we be trying to market to clients for more requesters?
There is an inherent bottleneck due to Jesse and Laurens being the tech developers for new clients. So it’s new clients or it’s the SDK.
This would be marketing for Effect.AI BV and not for Effect Network.
The SDK is highly important. We do need new clients, developers. Developers who build on the Effect Network are the new clients for the Effect Network – not clients for Effect.AI. It is these new clients that we need, not new clients for the BV.
Developers are the clients of the Effect Network. The DAO then brings in new clients who generate income for the DAO.
Something to consider is that at this moment, the full 10% network fee is to go to the DAO in the form of a reward. As is, network fees do not bring income to the DAO. There may need to be an adjustment to this where part of it goes into the treasury or into a multi-sig DAO controlled account. Or an additional 2-5% tax added.
OLD DISCUSSIONS (tabled)
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.
Discuss further with team about incorporating worker pay in perpetuity of trained algorithms.
Potential Proposals:
Renew the MasterChef
Create a proposal to have a competition for a memeable mascot
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 created NFTs
Hack-a-thon expenses
Tasks:
Research non-profit models
Create a responsibility map
Create a workgroup to plan this out.
Clean up the Community Center Gitbook page
Listen to July 14th audio regarding future Foundation management
Create a visibility list
Create a mascot; create income NFTs for the DAO
Vigor inquiry
Time zone proposal
Dashboard updates:
Reward calculator (P30)
Timeline
Token Flow Map (team should be working on this as per AMA discussions) Noman is looking into
Filter system (DJ is considering working on this) Noman is looking into
Roadmap for DAO goals and benchmarks (by Foundation).
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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