Teams Overview (Working Groups/sub-DAOs)

Do SOMETHING...lead, follow or get out of the way....Ted Turner (founder of CNN)

PowerPool DAO Organisation - Delegation to Teams (sub-DAOs)

Migration to Balancer v2, the launch of xCVP staking and the next version of the website supporting staking/redemption are now complete. The stage is now set to expand the PowerUniverse family dramatically with many new baskets and key partners, to initiate dashboard fundamentals performance tracking of tokens within pools, add insurance options, implement Treasury Management and reporting, define yield optimization/hedging strategies of each new pool and invest in effective marketing, especially to institutional investors. Marketing is a particular challenge for PowerPool because there are two investor market segments with very distinct profiles:

  • Average investors looking to achieve broad diversification with BOTH intrisic and extrinsic yield WITH tax-efficient automated rewards harvesting at minimum gas; and
  • Institutions/family offices looking to achieve broad diversification WITH hedging options and automated rewards at minimal cost and complexity in client reporting and meta-governance management.

Converting an on-chain protocol like PowerIndex/Agent into a leading asset management organisation addressing both the above market segments will require adding a sufficient number of qualified people able to wield real resources from an approved budget. Without an approved operating budget sufficient to address these challenges, PowerPool will soon be overtaken by much larger (in terms of people) and better-funded DAOs, despite having a superior platform and technology. DeFi technology is now proven, and the competition has shifted from protocols to organisations. The time to attract and retain the best people is NOW.

The new PowerPool governance system gradually shifts daily decision-making powers from the multi-signature wallet and a monolithic, gas-intensive on-chain DAO towards SparkTeams, organically-formed autonomous contributor teams with names, team leaders, and specific remits:

  1. SparkDev (core protocol development, security & audits, operations);
  2. SparkFin (treasury management, NAV/P&L reporting);
  3. SparkData (token-tracking, data feeds, analytics & visualization);
  4. SparkDesign (web presence, graphics for social media);
  5. SparkPeople (guilds/skills tracking, bounty management, incentivized task recruiting);
  6. SparkProd (new product development, testing & launch);
  7. SparkDAO (Wiki, Forum and Governance content & moderation);
  8. SparkGrow (marketing and partnerships - pooled investment vehicles & xCVP staking);
  9. SparkLegal (external legal advisor)

SparkTeams are divided by functions first, because this is best for incubating/launching numerous new products. Each SparkTeam aligns with at least one aligned Core Team/Management Board Member.

While most of the decision-making powers previously held by the Multisig move to SparkTeams, the execution power stays with the Multisig pending future proposals. The Multisig is tasked with executing the decisions issued by SparkTeams within their domains of action and with ‘Veto Power’ should they feel a decision needs further review. The multi-signature wallet will still be the entity which executes proposed changes to the protocol and will retain veto power.

Team-based, more modular governance will allow the protocol to adapt quickly despite its increasing size. Not everyone feels qualified to vote on every type of proposal.  This is one reason why global DAO voting participation rates can be so low. SubDAO delegation tooling, such as that provided by Orca Protocol, SquadDAO and others extends the DAO organization down to more specialised team discussions and voting. The idea is to push as much decision-making as possible down into the SparkTeams, surfacing technically-sound sub-consensus options on the Forum and as formal Proposals to the DAO if required by the rules of the DAO. The philosophic background for this type of organisational structure is holacracy.

As the number of meta-governance votes increases and as more meta-governance capabilities come online, there is an expectation that vote execution will be further decentralized to some kind of sub-team within the PowerPool DAO. This may ultimately take the form of a meta-governance council executing delegated meta-governance votes, protocol ambassadors executing delegated meta-governance votes for their protocols, or some other sort of structure.

Benchmarking: DeFi DAO Governance 2.0

Examples: Yearn, Nexus & Maker DAO Organisations

Enabled by YIP-61, yTeams are “small, autonomous groups of yearn contributors empowered by YFI holders to act independently in the best interest of yearn within a constrained domain of action and with enumerated, discrete decision-making powers.”

There are currently 9 yTeams within Yearn: yBrain which “manages strategies”; yBudget which “sets budgets”; yChad which controls the main Yearn multi-sig wallet; yDev which defines and manages the Yearn protocol; yFarm which controls Yearn’s Farm Treasury; yGuard which has “emergency powers”; yOps which ratifies yTeam signers; yPeople which handles operations and compensation; and yTx which delegates transactions.

Earlier this week, it was announced that an initial set of yTeam signers have been selected by “rough social consensus” by each yTeam.

Maker DAO is also using a similar framework.

External Tasks & Bounties for Deliverables

DAO ‘Guilds’ are lists of DAO members with certain specialist skill sets available to the DAO. Under the guidance of SparkTeam Leaders, creating Guilds allows DAO members to group together and offer the community direct access to a pool of certain skills.

Guild members can be summoned by the DAO to address tasks via hosted Bounty Boards, such as this example using Notion:

Task bounties should be seeded with some amount of compensation, denominated in CVP. This money can come from initiatives funded by the Ecosystem Fund or possibly partners like Balancer or even third parties seeding with their personal funds. These bounties can be claimed by anyone, even people without any CVP (providing a way to earn CVP). When a task is delivered, Bounty Comptrollers such as SparkPeople or SparkDAO must then approve/deny the claim. In this way, Guild members can build up a record of their previous deliverables and bounty Comptrollers can better target tasks to various Guild members.

Other protocols are referring interesting proposals to contractors to generate in-depth analyses for further consideration by the DAO. For example, Nexus Mutual has been granting rewards of 100 WNXM = ~400 CVP for in-depth  analysis documents. See their Nexus Discord offer here; and typical Nexus Project analysis deliverable here: Nexus Analysis of Thorchain.

PowerPool should consider offering bounties to qualified collaborative teams, for example, Financial Voting (they do habe their own FTV token, but I am not convinced it is a good investment).

PowerPool Ecosystem Grants

Example Grants Program - Aave

Today marks 10 days since the AAVE Grants DAO pilot program officially went live. It is another exciting example of ways that crypto networks are opening up their treasuries to their communities.

AAVE Improvement Proposal 17 transferred 2,809 AAVE tokens to a Gnosis multisig for the purpose of funding projects, ideas, and events that benefit Aave and its ecosystem, with a focus on empowering a wider network of community developers.

Here’s how it will work:

  • The Grants DAO’s budget will be approximately $1 million per quarter with an additional $250,000 set aside to fund its operations.
  • A committee of 8 people, 1 lead and 7 reviewers will administer the program, processing applications and evaluating them based on the value they add to the AAVE ecosystem.
  • There will be two types of grants:
    • Rapid Grants (<$100k) which will be under the sole purview of the AAVE Grants DAO.
    • Community Grants ($100k-$500k) which will require a proposal on AAVE’s governance forum for a community discussion to inform the AAVE Grants DAO’s decision.
  • Funds will be disbursed to potential grantees when 4 out of 7 signatures (i.e. votes from the committee) from the multi-sig authorize it. Decisions regarding how funds are disbursed (i.e. up front or milestone-based) will be made on a case-by-case basis. Grants over $500k will fall outside the committee’s scope and will require an on-chain vote from the community.
  • The initial committee will serve for two quarters, after which the AAVE community can vote on their renewal (and that of the Grants DAO program as a whole) via an official on-chain vote.

PowerPool Ambassadors Program

The PowerPool Ambassador program is intended to appoint certain members of the DAO with large followings in specific regional/linguistic markets to represent PowerPool marketing and communications in their own words.