• Proposal

  • OIP-21: DAO Budget Increase + Milestone Framework

I am for proposal 1. The shared data makes it clearer where the spend is going.

But for proposal 2, I like that it is based on a target, but maybe it would help to publish our current standings, trend for the past year and WIPs in a single page? That would help voters get a clearer understanding of the baseline.

i.e

what is the current number of Ohmies staking and what was the increase trend for the past year?

what is the current number of Ohmies on discord and what was the trend for the past year?

what are the current or target proposed partnerships in the works?

what are the current or target new integrations?

    Kutu2

    You can see our # of ohmies staked on the dashboard, and we have announced membership milestones in discord, we are currently at just under 15k discord members.

    As far as proposed partnerships, this information cannot always be made public right away, but I can tell you our partnerships team is one of the busiest teams in the DAO. Current partnerships and integrations are also listed in this proposal above (Rari Fuse, Frax, AAVE, Convex, Abracadabra). I believe there are other partnerships/integrations that have even been hinted at on twitter 🙊

        Great job so far OHMies! I'm all FOR! Keep up the great work 🙂

        Dudemyguy Thanks. I guess I was more thinking about a one pager rather than having voters go all over the place to look for the info. Jusst trying to make it easier for people to make an informed decision!

          As the number of active contributors grow, it is crucial to raise the budget if we want the DAO to pay competitive salaries.

          I’m down for increasing the budget now, and also for creating a framework that will give the DAO more room to grow sustainably (thanks to the ability to rase the budget again) once it is necessary.

          Hard work should pay off, and the amount of work that the DAO ohmies are doing is incredible. Good job everyone!

          I’m brand new been for about a month been loving what you guys do as a community and what you do for the community. Keep thinking ahead and what you guys can do to keep it going. I’m all for it you guys deserve it.

          Agree with the principle, want to retain an reward talent.

          Would be good to define some KPIs that could help track ROI..difficult to do with certain types of work, but worth trying.

          Also, what if Ohm price tanks or shoots up for a short period of time… giving dollar equivalents of Ohm at point in time risks under/over payment..maybe some kind of average price over a longer period could define the number of Ohm?

            As the number of active DAO participants grows and continues to grow as we take on more complex endeavors, some roles our team members have become even more important. I don't think anyone's been able to quit their job to fully dedicate to Olympus, which is a passion project for pretty much everyone involved (and maybe they should be able to!) though I think it'd be great if we could present a richer dataset on how the funds are allocated.

            Considering the amount of money the protocol has been earning, which is allocated to the DAO on the protocol level, I think it's fair to say that the budget is fairly modest! For anyone really concerned about the increased sell pressure, I think the most passionate Ohmies are exactly those DAO participants who would prefer to (3,3). 🤙

            In for the proposal and much respect for all hard working Ohmies!

            (3, 3)

            All for this! We definitely need to pay people fairly for the work being done. More people = more money. Simple math 🙂. Like the milestones you have set forth as well.

            Dudemyguy

            Thank you DudeMYguy.

            Thank you for all the work and effort you put in the DAO as well as all DAO contributors.

            It's never unnoticed.

            I have been a part of many DAOs in the last 14 months doing crypto full time and Olympus DAO is a whole other level of experience. It's the BEST by far.

            We Must keep our talent and we must fairly compensate them and keep them happy as far as we can.

            This great proposal takes the DAO in that direction with fairness and transparency and I'm FOR it of course.

            "Take care of our builders, our masons, our carpenters, painters, and orators, our divinators, memelords, and technomancers ensure they feel valued, and ensure they feel confident to attract more journeymen to our cause:

            Churchee

            "It's a small step for men but a giant leap for Olympus DAO."

            Thank you to all Olympus DAO contributors ; Thank you very much Sers 🙏

                Seems reasonable and proportionate to members and work done.

                Ranj

                Giving dollar equivalents is the way to avoid under/over payment, since the dollar amount is "constant" while the # of OHM may change. We don't pay in OHM, we paid in DAI, converted to OHM. In this sense, you are dollar cost averaging on a monthly basis as allocations are paid out.

                As far as the KPIs go, I think we accomplish that quite well with our OKRs by DAO department (available in the notion), the Dune Dashboard where you can track all protocol income/value, and now the milestone framework set forth in this proposal.

                  Stratoshi_Styles

                  Hello friend. Yes, I agree, you could have definitely approached this in a less confrontational matter, especially seeing as your post displays a clear lack of understanding for a handful of things. If you notice, the proposal contains a transparency clause at the bottom. Here you will find links to our budgeting and allocation sheet with all allocation data up until this time.

                  You mention the possible game-ability of one milestone: "if someone just simply makes a script to stake OHM with new addresses a few thousand times". This is a valid criticism that we considered while making this framework, however it would cost quite a bit to accomplish this in transaction fees alone, with no guarantee that the perpetrator would even see any of the increased budget, since budget is allocated fairly to DAO contributors based on value contributed. The DAO doesn't just hand out money to anyone.

                  Increasing the budget is about allowing the DAO to continue to expand and grow. We have already expanded past our initial budget, and we are still growing rapidly with numerous spots in the DAO still needing to be filled. It is necessary to increase the budget to incentivize and retain contributors and continue relevant progress. This is an ecosystem with so many moving parts and to maintain and grow a community of this caliber takes a serious effort.

                  @Stratoshi_Styles, you also mention that the APY was nuked twice in a month and that this budget proposal is "even worse than [that]". Firstly, the APY was not nuked twice in one month. Reward rate was reduced based on careful consideration for the economic health of the protocol. After much deliberation, a forum post went up which resulted in heaps of discussion (including an open Policy call held in the main community server) and culminated in a snaptshot vote.

                  Due to the laws of exponential growth, we must use reason to override our greed and reduce the reward rate at key times to remain sustainable. Olympus was built with these levers in place so we can work as a collaborative unselfish team for the greater good of the Olympus Ecosystem and all its participants.

                  DAOs are the future of work. We recognize this and we would like Olympus to be the best DAO to work for in DeFi. We want to have enough budget to support continuous, high-output contribution. Many people working in the DAO don't have other jobs, and work only for Olympus DAO exceeding 40 hours per week. There are no true commitments in DAO work; a DAO must remain competitive in the Job market. Contract jobs in tech pay more than salaried jobs because they have less guarantees and generally no benefits attached. Working for a DAO is a truly no strings attached relationship, a contributor can leave at any time. In order to retain top talent, the DAO needs to understand its place in the job Market and incentivize accordingly.

                  Again, the DAO is not a charity, and it only pays to actually contribute value, but to meet the demands of a growing community and the rapid pace of innovation in the DeFi space it takes continued growth in terms of: the human-input into our governance and policy levers; the funding of new projects; the expansion of marketing initiatives; the acquisition of new strategic partnerships; the ever growing need for more community engagement and education; the ongoing maintenance of the application; the building of new features that add to the value proposition within Olympus; and the administrative upkeep of keeping everything glued together and running smoothly at all times.

                    Stratoshi_Styles On transparency. 61 active contributors -- You can't even lay out how many people are working in each sector? Let alone how much each sector is currently costing along with projects, etc. If you're going to act professional, go all the way with it. What even exactly does engineering do, considering that the protocol doesn't require much (if any) additional programming at this point?

                    @ZayenX @Drondin @xh3b4sd @AcidPunk - Would any of you guys like to enlighten this fellow as to "what even exactly engineering [does]"? I feel like you dudes will have a more comprehensive awareness of Engineering's constant and necessary role in the protocol/DAO

                      Stratoshi_Styles Basically this. In a way or the other MUCH more transparency is needed. A better presentation of it at least. The first marketing to do is versus OHMies. "Nepotism" is a big word and even if surely founders and first comers have bags of OHM to pass whatever they like, I think the main purpose of OHM is the greater good (I call it profit) of continuing this virtous project.

                          Stratoshi_Styles

                          Wow Ser.

                          What an incredibly ignorant post.

                          In so many ways.

                          It's disheartening even. So sad.

                          First of all @Jaws "shitposts" more than you are awake Ser.

                          So to me it would be reasonable that he feels underpaid (if he did) and we should definitely raise his pay (if possible/ reasonable) if he feels that way because he actually contributes to this DAO so much thru tweeter and "shitposting" and "memes" are a huge part of any DAO period.

                          On the other hand i haven't seen you doing anything for OUR bags smh

                          So that's that for starts.

                          I'll keep going….

                          In life; respect goes a long way. And the way you speak is disrespectful on itself and that's quite sad if I'm going to be honest and I will.

                          Your post is sad.

                          Full of misconceptions and LIES.

                          Absurd points made out of sheer ignorance.

                          it's just DUMB and it shows your lack of everything really but mainly understanding DAOs.

                          To your point that only the friends of high ranking members of the project can "get work" you could not be more wrong.

                          That's a bit of a loosers mentality tbh.

                          I know no one on this project. I bought in 2 months ago and have been staking….

                          I decided to contribute as much as i can as my position became too big and i thought I should get more involved duo to that. Wich I did.

                          After spending over 40 hours a week on discord for a couple of weeks helping Ohmies i was advise by others to fill out the sherpa form ; that by the way; was and is there for anyone who wanted to i wanna make that clear ANYONE. So I did. Hours later i was accepted as a sherpa and kept contributing to the DAO as much as possible.

                          I do not know ANYONE in this project. Period.

                          I bought in at $450 btw

                          I do not know ANYONE in crypto AT ALL.

                          I'm 100% alone in this space , and i don't speak with anyone about crypto besides on tweeter and discord.

                          To your point that founders could swing votes being a "Theater" well it's not "Theater" those are Facts they can and that goes to every Crypto or non crypto project ever. Newsflash. Good luck find a protocol that founders can't swing votes. And honestly it's just fair, they took the bigger risk they hold the bigger bags. Just buy their coins and you could do the same.

                          I could keep going….but I rather spend my time helping onboard new Ohmies so OUR fu***** bags benefit instead.

                          Sorry if i stepped out of line at any point , my apologies to all DAO contributors. It was not my intention but I'm very passionate about this amazing DAO that WE have. And this DAO that WE have means so much to me….i always saw @coopatroopa on tweeter telling people to get involved with the DAOs to participate instead of just buying a bag…. and I thought he was a bit full of shit…..he tweeted so much to get involved that I decided to try…..just to learn that i was the one full of it for thinking that I could not bring value to a DAO that I love so much, i and anyone most certainly can. Olympus DAO is actually the prove of that to me.

                          Facts.

                          Cheers 🍻 you all

                            Vanadio

                            I'm not sure what additional transparency you are asking for specifically, but if you go ahead and read the actual proposal at the top of this thread you'll see that at the bottom there's a transparency clause which contains links to all of our budget and allocation data to date.

                            There is also a completely public #dao-log channel in the DAO discord server where you can see (in a more unorganized fashion) every single payment that has ever been sent to any DAo contributor.