IC Autonomy - Kickoff Session Minutes


The group met for the first time to discuss our goals and get the ball rolling. Wanting to keep the community abreast of our discussion and developments, we are sharing the meeting minutes below.

Atendees: @setoshi @Etienne @Pepperoni_Joe @Matthew_Graham @DarkForestCapital

Initial thoughts

DFC gave a rundown of his document to frame his thinking, including tactical elements and some high level goals. Mainly a rehash of all the points raised to date and how we might lay out our vision to the community.

Felix took the opposite approach, starting from a high level and considering the question ‘What is the Coop?’.

There is a need to make progress but also to ensure the right high level strategy is instilled. The community expects results.

Internet Organisations

Using paragraphs from Felix’s doc we discussed what a DAO is, and how best to move one forward.

Joe mentioned important things that need to be protected, relating to how the Coop works today. This includes openness to enable new people to join the community, provide the ability for people to contribute and be rewarded.

Matthew felt that a hierarchy might not be the best structure and that it would too closely resemble the power structures we are used to in traditional employment. A DAO should have a flat structure.

DFC felt that a number of DAOs have run into the problem of hampering progress in pursuit of perceived decentralisation. The best DAOs have an empowered group to set direction and make decisions. Used analogy with our methodologies being credibly neutral and predictable, hence massive AUM compared to competitors which have token inclusions decided by community.

Recognition there is no DAO tool in the space to enable an efficient flat structure bottom up approach. Without such tooling available, then things are likely to become chaotic.

The more prevalent strategy that exists in DeFi today is community elected groups who then determine a way forward and utilise the governance forum to attain broader feedback.

Within or Without

Etienne expressed concern about ‘not needing external methodologists’ and opened up the discussion around how we see the 3 parties (Set, DFP, Index Coop).

DFC clarified that the token is what should align incentives, external methodolgist gives negative connotations, as a token holder they are a community member and a large one at that. Set are also community members. Would see the distinction fading over time.

Joe framed it as the IC growing up and using this autonomy transition to stop holding hands with DFP and Set, come to the table as equals.

The group noted the number of different discussions around fee split and how Index Coop should be able to approach these conversations feeling able to make decisions.

Next Steps

  • Philosophical / High level discussion - autonomy, relationships between parties
    • How does Set Labs, DeFi Pulse (representing all external methodologists) and Index Coop work together as a community?
      • Are we separate communities that reflect the existing legal structures in place or are we an interlaced community of individuals?
      • What core areas must DAO be completely autonomous, in a self-sufficient way and what areas are shared.
  • Tactical next steps re: autonomy - next immediate action steps to take
    • Form a group of people that focuses on roadmap / strategy.
      • The intent is to provide direction, have the community start forward planning and then position resources to execute over the coming quarter.
      • Less narrative priorities. More tangible deliverables and timeline.
    • The Autonomy Group is high level and strategic in nature. Implementations are likely to be passed to community members to run with and shall be sponsored by the Autonomy Group member. This is expected to enable more issues to be tackled sooner rather than later and hit low hanging fruit / address obvious needs.
  • Next call - Tuesday 10th August

thanks for taking time to put these notes together and share :pray: