Fresh Owlpha, curated daily. This is @HOWweDAO . (previous issue)
Today, Analytics Pod held their biweekly pod meeting and F.Nest talked tokenomics at their nest meeting, Money Talks. If you missed Chase and Regan’s Twitter Spaces today, listen here.
Tomorrow, BD, now a pod within Growth Nest, is holding its strategy brainstorm. The Leadership Forum will follow, including preliminary presentations of and commentary on Nest proposals by leads.
Announcements:
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VOTING LIVE:
- IIP-129: Metagov Delegation Request - Delegate Aave to EOA for DPI Borrow Enable and DPI on ARC AIPs @oneski22 @Mringz @Matthew_Graham @Metfanmike
MetaGovernance:
- COMPOUND-83: Add Market: FEI
Finance:
Volumes upon volumes of trust
F.Nest’s Money Talks (6 attendees)
This public chat on Discord will be @Finance’s version of a community call. It will include a roundup of what’s happening in F.Nest by leads @ElliottWatts and @Matthew_Graham followed by open discussion, feedback, and likely some chat about F.Nest’s latest hot topic, tokenomics.
F.Nest’s Nest proposal will be posted to the forum (likely) tomorrow. As they draft, they are focused on responding to requests for specificities within their OKRs by other nest leads. One important change is that “stipend” terminology has faded; now, priority hires are paid by salary and “flexible contributors” (everyone who is not a priority hire) are paid by bounties. For flexible contributors, their monthly pay is now a sum of parts in which a certain number of bounties may equal what was once a stipend. In this way, rewards are becoming performance-based as opposed to just given for contributors who turn up. This makes offboarding easier as conversations about underperformance are forced to happen because rewards are tied to performance.
@shawn16400 was ready with questions centered around FEI’s decision to allocate voting power via COMPOUND tokens in TribeDAO. FEI has a lot of $COMP sitting in their treasury, but they’re not voting on COMPOUND/using these tokens. So, FEI wants to delegate those tokens to Index Coop to vote on COMPOUND. We wouldn’t be voting on behalf of FEI, as we are voting on the opinion of Index Coop, not theirs. This is indicative that FEI trusts Index Coop as a good actor in the space we’ve been such a trusted partner. “This creates volumes upon volumes of trust,” said @Matthew_Graham. We hope that other organizations may follow along. Read more about this proposal here. This is the first time we know of that a protocol has designated votes to another organization for longer than a single, particular vote. A few questions remain: What if FEI disagrees with Index Coop’s vote that uses their tokens? Is this precedent detrimental to the overall ecosystem of meta-governance? It’s likely F.Nest will hold a community call to discuss questions like these as the Discord chat is frequently low-attendance. Shoutout to @shawn16400 for raising well-researched questions and helping everyone understand tokenomics through the Meta-Gov lens!
Tokenomics means understanding the supply and demand of cryptocurrency (a basic explanatory article is available here). How we structure our tokenomics will determine the survivability of $INDEX. In the traditional economy, it is economists who monitor how much money is issued using official supply data. Index Coop must monitor the supply of its own token, $INDEX, and that is tokenomics.
F.Nest is also interested in assisting profitability by deploying our treasury. The question is: How do we deploy our treasury to support our product in the best way? Several ideas have been brought up, including Balancer’s VLP model, liquidity mining, and staking. Join F.Nest next week for further discussion.
A place within Product
Analytics Pod (9 attendees)
First piece of news: @jdcook has departed from full-time work at IC, so @anthonyb.eth will be taking over some of the admin side of Analytics Pod. Other core contributors are @jackiepoo, @sidhemraj, and @Don-ETH. In the spirit of transparency, they mentioned budgetary constraints increasingly relevant as Analytics Pod moves to a bounty-based payment structure. Product Nest will submit a budget to the Council that allocates a certain amount of money to Analytics Pod. Bounties may also originate from outside of Product Nest from other nests and pods that require some analytics. They will touch more on the budget on the next call (in two weeks) once the budget is finalized.
Deliverables-wise, a Product Liquidity Dashboard has been set up. @Don-ETH is focused on building a AUM decay dashboard for composite indices; he will use @sidhemraj’s model for ETH2x-FLI-P to create this. @anthonyb.eth is finishing up the Core KPIs and North Stars Dashboard and the DPI Product Dashboard (which will be duplicated with all other products). @Don-ETH is completing three different dashboards for @Finance: a high-level treasury view, an operations account, and an investment account. In the future, the pod will work on modeling out the Balancer ecosystem index and unit and address exposure for all products.
Wednesday Meetings: (UTC/1-hr, UON)
1700 - Business Development Strategy Brainstorm
1800 - Leadership Forum
Daily Owlpha: “Scalability isn’t important, until it suddenly is. Decentralization isn’t important, until it suddenly is. Privacy isn’t important, until it suddenly is.” - @naval
Hoot!
