The ssv.network DAO was established last year. Since its inception, the DAO has managed to self-organize and lead strategic projects on behalf of the community, such as the DAO partner program, contributor onboarding, and committees.
The next big challenge is to define a sustainable future mode of operation for the DAO.
For this, the DAO has assembled a ‘DAO Genesis Committee’ (dGC). The committee links the needs of the community, the protocol core team, and the DAOs token holders. Also, the dGC is in charge of organizing and overseeing the DAO.
The committee will pursue the following goals for the DAO:
- Define a governance and operation framework
- Create a roadmap to decentralization and growth
- Execute on that roadmap
The dGC will update the community regarding DAO’s decisions, the use of treasury, runway, protocol development, and other relevant concerns.
To do this efficiently, the dGC will structure and establish a governance and operation framework, along with good reporting mechanisms, to facilitate transparency between the DAO and its stakeholders.
Roadmap to decentralization and growth
The dGC works alongside the protocol core team to define the DAO’s vision, mission, and goals and develops a path to the DAO’s independence and long-term sustainability.
While working on a plan to get there, the dGC will identify areas of uncertainty and define the necessary measurements to investigate and gain the necessary insights to make informed decisions. To progress, the dGC might initiate appropriate working groups and assign expected outcomes and dedicated compensation models.
During the first month, the committee will focus on executing the Multisig Committee Formation proposal and ensure its effectiveness. Also, the committee will lead and oversee the already established Grants Committee (GC) and Operator Verification Committee (VOC) by making their work transparent to all stakeholders, formalizing the current goals, onboarding additional members, hardening and documenting existing processes, and identifying areas of future improvements and required resources.
In preparation for long-term sustainability, the dGC derives a minimum viable governance and operational framework for the DAO, its committees (long-lasting), and working groups (temporary), which includes:
- Why, How, and When to generate new committees and working groups
- Define the relationship between groups and the dGC
- The group leader’s responsibilities, reporting, and accountability
- Compensation model for leaders and members along with operational budget
- On- and off-boarding procedures and guidance for member diversity and qualification
- And more…
dGC initial formation
The initial dGC consists of 6 members, of which 1 member is assigned as the program lead and one member of Blox represents the protocol core team’s point of view. The Committee’s initial mandate will last 6 months. A public vote is required to continue the existence of the dGC after that period ends. The committee lead is appointed every 6 months by the same public vote. dGC members are appointed by the dGC lead or by a community vote.
The initial formation includes the following members:
(protocol core team)
The dGC Lead is an organizational role that drives the initiative, and is accountable for executing the committee’s mandate:
- Manage and organize committee meetings
- Assist in scoping committee member’s roles
- Assist in scoping working group leader’s roles
- Publish a monthly ‘state of the DAO’ progress report on the forum
- Participate in community calls and represent the DAO
- Assists with setting up working group leaders’ targets, and reporting standards
- Cooperate with working group leaders to create goals and track progress
- Develop related governance and operation procedures
- Work with the protocol core team, the members and external agencies to define a roadmap to decentralization, vision, and mission for the DAO
The dGC lead will be accountable to deliver on the following execution plan:
Coordinate and help define the DAO’s governance and operation framework. Improve transparency and reporting standards; provide state of the DAO updates, treasury use, and runway. Present grant issuance and progress.
Ensure working group lead assignment, role definition, goals, and reporting.
Oversee the ongoing operation of committees and working groups. Transitioning the DAO’s focus according to the “roadmap to decentralization”. Define roles and responsibilities moving forward, and present a long-term plan.
The Genesis Committee lead’s compensation will be 10K USD per month in SSV tokens.
The compensation covers all the work for the dGC and working on any number of existing or newly created committees or working groups without getting any extra compensation.
The Genesis Committee members’ compensation will be 3K USD per month in SSV tokens.
The compensation covers all the work for the dGC as part of the dGC mandate. Above that, a member can participate in other committees or working groups and get compensated according to the group’s compensation model.
The dGC members assumed their role at the beginning of April 2022. They were not compensated for their work thus far. The committee compensation will backdate to start in April 2022. The first installment due to the Genesis group will include the months leading to this proposal’s execution. The backdated compensation will be calculated at 3K USD in SSV tokens per committee member, with no distinction between a member and a lead.
External services budget
The DAO treasury will allocate a 55K USD budget to the dGC. The dGC will use that budget to obtain external consulting services to help accomplish its mandate. In case a third-party agency is onboarded, the work scope, fees, and deliverables will be transparently shared with the community.
Maximum budget for 6 months, assuming this proposal is effective December 2022, including backdated compensation and external agency budget.
|Member||Monthly ($)||Total ($)||Unit|
|External||55,000||SSV or USDC|
The SSV token price will be calculated according to the DAO standard; 90-day closing price average in the previous months.
Every month, the ‘master of coin’ will post a payment request under this proposal. The request will include total allocations for all team members, including reference calculation and external consulting services if any. The Backdated compensation will be executed right after this proposal is passed.
Changes in the dCG structure can be achieved in one of the following ways:
- DAO vote
- Genesis Committee majority vote; 4 of 6 members at current state
Removing or adding a dCG member will require a public vote. The vote will be followed by an official announcement in Discord and the forum. The protocol core team can change its representative at any time with the support of a dGC majority vote. Any change must then be announced on the forum.
How would you vote on this proposal?
If you’re against this proposal, please make sure to leave a comment
- Yes (in favor of this proposal)
- No (against this proposal)
After the proposal passes heat check, it will be formally voted on snapshot.org.