Skip to content

Commit cd32b69

Browse files
committed
Add governance PIP43 - PIP44
1 parent c31c5b8 commit cd32b69

File tree

2 files changed

+127
-0
lines changed

2 files changed

+127
-0
lines changed

governance/proposals/PIP43.md

+60
Original file line numberDiff line numberDiff line change
@@ -0,0 +1,60 @@
1+
# PIP43: Phoenix Plan (pt. 1)
2+
3+
PIP43: Phoenix Plan (pt. 1)
4+
Author: MatterTurbulent#5161
5+
Reviewer, submitter: Prye#4845
6+
Required Quorum: 100M $PEOPLE (if not reached, the proposal will need to exceed 90% of the votes to pass)
7+
Vote Duration: 5 days
8+
9+
## Description
10+
11+
On March 6 an exploiter drained 76ETH from the PeopleDAO treasury, constituting approximately 95% of the reserve funds. This plan articulates the changes the DAO should make in order to survive and continue operations, including:
12+
13+
- Consolidation of remaining capital into the treasury
14+
- Increased alignment towards revenue-generating activities
15+
- Further austerity measures
16+
- Restructuring of teams, streamlining operations
17+
- Redefining treasury management processes
18+
19+
### Consolidation of remaining assets:
20+
21+
As of March 7th, the PeopleDAO treasury holds approximately $4.3k USD worth of various tokens (not including the $SAFE token which is currently locked up). The DAO should conduct the following actions to consolidate its remaining assets:
22+
23+
1. Transfer treasury funds on other chains (Binance and Polygon) to Ethereum, approximately $5k USD
24+
2. Refund the UnumDAO donation, approximately $12.4k USD
25+
3. Seek to claim the remaining funds in PandaDAO treasury, approximately 14.3k USD
26+
4. Merge LanguageDAO treasury with PeopleDAO treasury, pending LanguageDAO's approval, approximately $1.3k USD
27+
28+
Summing all the potential assets, in the best case scenario, the treasury will reach $33k USD. By the end of 2023, the $SAFE token might become transferable, possibly unlocking another $10k-50k USD.
29+
30+
### Increased alignment towards revenue-generating activities:
31+
32+
The DAO is poised to launch two NFT collections, Afro Piece and For The People, each of which represent revenue generating opportunities. Another Accelerator project, Perpex, could generate substantial revenue upon fundraising, estimated to occur in late-Spring/early-Summer.
33+
34+
The DAO should enter an emergency operation mode, focusing teams and contributions towards launching these projects, and suspending non-related non-essential activities, namely:
35+
36+
- Suspend onboarding activities
37+
- Conduct Accelerator-related AMAs rather than general DAO AMAs
38+
- Research and consider adopting other operational models, e.g. project-based structure
39+
- Implement KPI and other indicators to evaluate the impact of individual DAO activities
40+
41+
### Further austerity measures:
42+
43+
During the budgeting for Season 4 the DAO began implementing austerity measures in response to forecasts about limited runway. Teams budgeted for fewer and lesser rewards. The DAO should increase these austerity measures. The DAO should return to a centralized budgetary process rather than on a team-by-team basis, to ensure greater checks around spending.
44+
45+
Core Team will coordinate with Team leads to ensure March rewards from the beginning of the month get paid out, but contributors should recognize that we don’t have the funds to issue the same output of rewards as months past.
46+
47+
### Overhaul of treasury management processes:
48+
49+
An overhaul of the current accounting task aggregation, summary, and execution is required. A new systematic approach will be introduced to cover up DAO's current operational security loophole that resulted in the exploitation. As such, the following temporary implementation will be adhered:
50+
51+
1. Centralised compilation of pending rewards into a CSV file on GitHub
52+
2. Validation of the data, export of the file from Github into Safe
53+
3. Multisig group meeting and validation of the transaction
54+
55+
Additionally, the DAO and multisig members will utilize extra support tools, such as browser extensions and decentralized applications, to gain further details and insights on all treasury changes. A private standard operating procedure will be defined and provided to all core members and multisig members to enforce standardized operations for all treasury management events.
56+
57+
## Voting choices
58+
59+
1. YES - Approve the proposal
60+
2. NO - Deny the proposal

governance/proposals/PIP44.md

+67
Original file line numberDiff line numberDiff line change
@@ -0,0 +1,67 @@
1+
# PIP44: Phoenix Plan (pt. 2)
2+
3+
PIP44: Phoenix Plan (pt. 2)
4+
Author: Prye#4845
5+
Reviewer: MatterTurbulent#5161
6+
Required Quorum: 100M $PEOPLE (if not reached, the proposal will need to exceed 90% of the votes to pass)
7+
Vote Duration: 5 days
8+
9+
## Description
10+
11+
Following the treasury incident, an opportunity has arised to rebuild the PeopleDAO’s internal processes. We would like to review learnings from other DAOs - one of these is MoonDAO’s transition from guild-based structure to project-based structure ([reference](https://twitter.com/LarrotizPablo/status/1638671447739760641)), which has also been adopted by other DAOs.
12+
13+
During the first year of PeopleDAO’s existence, many different activities across the DAO and incubator/accelerator have been supported, however the organization has struggled to measure its impact and to provide significant return of investments. Moving forward, we believe that with the limited remaining resources, the DAO should focus on these two objectives, and the project-based structure greatly compliments this desire.
14+
15+
### Areas of improvement
16+
17+
#### Team composition
18+
19+
- Before:
20+
- Teams often consisting of large amount of low-context people with different levels of engagement and commitment for tasks
21+
- Lack of strong entry criteria to join a team
22+
- After:
23+
- Small teams built specifically for the given task
24+
- Proven track-record and objective focus as requirement for joining a team
25+
26+
#### Task definition and evaluation
27+
28+
- Before:
29+
- Tasks defined during seasonal planning with minimal focus on evaluation and implementation of key performance indicators
30+
- Seasonal planning could result in evaluation loop being too long and ineffective
31+
- Unknown impact of individual tasks and teams on the growth and return of investments for the DAO
32+
- After:
33+
- Tasks defined with objectively measurable objectives as a requirement
34+
- Task completion followed by evaluation as a condition for acceptance of other related tasks
35+
- Evaluation loop shortened directly to the duration of the specific task
36+
- Direct measurability of impact on DAO’s investments and growth
37+
38+
#### Personal member progression
39+
40+
- Before:
41+
- Sometimes slow personal progression inside individual teams
42+
- No defined procedures for rotation of team’s leadership
43+
- Lack of personal performance tracking in the DAO
44+
- After:
45+
- Ability to join different teams at various different positions in shorter period of time
46+
- Opportunity for more inexperienced members to join low-impact/low-risk tasks as project leaders
47+
- Tracking of personal performance based on evaluation of individual tasks
48+
49+
### Implementation
50+
51+
- The Operations Team will remain the only general-purpose team in the DAO
52+
- The team is responsible for DAO's upkeeping and governance-related activities, such as accounting, elections and similar
53+
- Membership in the team is subject to approval by DAO administrators and is evaluated on case by case basis according to the DAO's needs
54+
- A community member or group of members can become a self-assigned project lead by defining a project
55+
- Projects are required to provide a clearly defined objectives and tasks, which have measurable indicators of completion, both in the personal and DAO-wide context
56+
- Projects are required to provide a detailed breakdown of requested funds, including all spending items and member rewards
57+
- Projects are required to seek and produce revenue-generating outcomes
58+
- Project leads are required to assemble the project team from active contributors with proven track record in relevant area in order to maximalize the possibility of successful completion of the project
59+
- All of above is a requirement for project proposal submission
60+
- DAO administrators are responsible for approving or denying project proposals
61+
- Administrators are obliged to evaluate only proposals which have provided all required information (see above)
62+
- Administrators are allowed to approve only proposals which produce revenue or other clearly defined means of positive return on investment for the DAO
63+
64+
## Voting choices
65+
66+
1. YES - Approve the proposal
67+
2. NO - Deny the proposal

0 commit comments

Comments
 (0)