OIP-21: DAO Budget Increase + Milestone Framework

Stratoshi_Styles hey fren, I feel like you are off on a multitude of points but let me provide my point of view for what it's worth.

1. You are not the first raising concerns about comp, which is why this proposal got launched. There were very critical members in the DAO server before you and all of them made us better along the way. In that light you are a very valuable contributor to the DAO as well. Nobody wants an echo chamber and we surely do not intend to fill our own pockets just because.
2. Everyone who wants to contribute and gets after it will find work and will get compensated relative to efforts of the other DAO members. There are no ranks and no hidden benefits for privileged individuals. Never has been. Never will be. I am personally one of the people who will make sure that this particular fairness will prevail because in that regard you and I may be very similar. The way it works is that every door is open. All that matters is "proof of work" in the DAO. The reason for OG members is because these people show up every single day, for months. And so anyone has the same chances to become an OG as well if they put in the hours like anyone else in fact does. The only barrier of entry within the DAO is the individual decision to show up and get shit done.
3. Towards transparency, reading your message it seems you did not see the link to the google sheet tracking all expenses and allocations. Once again for you, please see our google sheet. A lot of what happens is being made transparent. If you feel like this is not good enough you are welcome to join the DAO and get your own hands dirty so that we together become better again.
4. Now what engineering does. A lot happens in Github. See https://github.com/OlympusDAO. 29 engineers are at least visible but these are not all and not all work all the time equally. Usually you have to account for 150k per engineer per year. And then this is only engineering without product managers, designers, scrum masters, you name it. Some repos are even private in Github, for reasons. So for once there are integrations and data solutions that have to be worked on in the backend and in the frontend. One of these integrations is with Pool Together which will launch the next weeks. And so this is only one of our initiatives. These kind of integrations are all about smart contract engineering and UI/website changes. Data solutions include things like The Graph nodes which are required to work with relevant data in the frontends. And then we have the Dune Dashboards the community and e.g. the policy team uses heavily on a daily basis. Just mentioning the data teams here since this is similar engineering effort in my head. Then, you may have noticed that our frontends continuously get better. The reason is people work on it all the time. Oh and let's not forget anything related to security audits for our contracts where auditing firms and whitehats help us deliver bullet proof technology. Further, we have Olympus Pro in the works which requires similar engineering and security efforts in the frontend and backend alone for engineering. There are also reasons why certain business intelligence is kept private until launch. Everyone has the same problem, technology is expensive to operate fren and its complexity has to be mastered. I spare you more details in here but please hit me up in Discord to go over more if you want to.
5. We are so early it is unbelievable. Anyone can still become an OG themselves and acquire massive voting power if they want to. The thing is just that most people have their own plans and we often see how individuals move on to chase another pump. Just like you proclaimed to take profit and sell your own skin in the game and voting power. I mean, more power to you fren. Just, in my eyes you sell the future and the world of us versus them you create for yourself is not the world I want to live in. DeFi is an open ecosystem that provides equal participation. All it takes is the individual decision. Therefore I think it is not fair to argue against the people who have massively skin in the game, because they earn it. The point being, anyone can earn the same. It is only the difference of the point in time at which every individual may start out.
6. The APY was not nuked twice a month. OIP-11 launched in June, knowing this was just the beginning of our transformation. OIP-18 finally launched in August with a framework so that everyone knows what direction we go. This transparency was especially important to me personally. We will continue to adjust the system and at least the future of our reward rate should be a bit more certain by now.

Hope that provides a bit of perspective to the conversation. Anyone wanting to talk more about specific things feel free to reach out any time. I love all my ohmies.

Dudemyguy I didn’t know that excel existed, sorry. I try to keep up to speed, reading medium and agora but I missed that report. Thx.

Stratoshi_Styles
What even exactly does engineering do, considering that the protocol doesn't require much (if any) additional programming at this point?

Hey friend. I want to shed some light and directly speak to this point.
Yeah the core contracts are "stable", we don't have any plans to update them, because we feel really good about them. But that doesn't mean Olympus is "done". That would be a disservice to all the Ohmies out there.
Taking into consideration JUST the smart contract side of Olympus, we want to build an ecosystem of tools that provide value to the Ohmies. Every partnership we have requires smart contract work. Every project we embark on, like Olympus Pro, requires REALLY GOOD smart contract engineers to build the functionality safely and sustainably. You're incorrectly assuming the core contracts are the only part of Olympus Engineering. Now take everything I mentioned above, and add a front-end component: the gateway to the Olympus ecosystem. Unlike smart contracts, that you deploy and (hopefully) never change, we're constantly making updates to the front-end. We've moved fast in the early days of Olympus and we want to move even faster as we grow. We need engineers who are great at shipping new features but also understand the balance with developing sustainability. Maintaining a live system doesn't require zero engineering effort. In fact, we do our jobs well IF you don't see any difference in performance, responsiveness & utility.

This isn't a protocol for just "high APY", we have a vision and we need really passionate and great people to get us there. My personal goal is that ALL engineers feel fulfilled working on the Olympus Engineering Team.

Happy to chat more about engineering on the discord and talk about the things on our plate!

-- ZayenX#0001

I want to reverse my vote. How can i do it.

Skeptical until we are able to see who gets paid and for what exactly. Just saying which team gets what percentage of the pie doesn't cut it. What exactly did that team accomplish to get that $$? What did each member contribute to justify their share?. Give us a way to see what is being accomplished each week to justify the paycheck so we nobodys can hold you bigwigs accountable. Or not, it's really up to you guys; my vote has no impact..

joejoebiggums All for more transparency - but there ain't no big wigs in the DAO - join the server and see for yourself

joejoebiggums We release weekly updates in the DAO's Notion page about accomplishments from each team, upcoming events, and any roadblocks. These get released every Friday btw. Does this help at all?

https://www.notion.so/olympusdao/2021-August-20-26-66c3fde006774dde93124199953b501e

tex why hidden on the dao server? why do i have to register and log in to view? why not publish with announcement on main discord with no barriers to view for all to see? making it hard to find and view and burying it for what reason?

Mark11 by bigwigs i mean the 1 thru 5 percenters that run things and push anything they want thru when time comes for a snapshot. I lurk on the server you guys are there…

tex The notion page for weekly accomplishments is a start but needs some work. First thing, how about a link to it in the main server every Friday when it's released. Next, let's see how much these teams earned for these bullet points, at least in total for the week. Let's see numbers and accomplishments on the same page, all in one place. Next, explain anomalies. For example, on the Aug 13 -19 report in the engineering section there is just a blank bullet point for each of the 3 sections accomplishments, upcoming activities and roadblocks/concerns. Two members are listed as contributors to this (is unclear if this is the whole engineering team or just the managers/supervisors of it). Did the engineering team do anything that week or not? Did they get paid for that week? If so why if they made no reportable progress? If not, why? They had nothing to work on? Were they on vacation, were they sick, or did they just fail to accomplish anything and we'll see twice the normal accomplishments next week? At least say why they did not have even a single bullet point to report.

Then besides the notion accomplishment blips, where can we find more info about how they pay is actually being doled out. Who specifically is being paid and for what? Are dao members being paid by the job? By the hour? By position? Just for being in the club? How many chiefs do we really have compared to the number of indians? Who decides if a job is done well enough to merit pay? How is the amount of pay per job or for each position determined? What if someone half-asses their project, do they still get a paycheck? These are just a few questions a casual observer might have if they were worried about the coffers being looted from within.

Overall, it is what is. This is like when (in the US) congress takes a vote on whether or not to give themselves a pay increase: The yays always have it and because it was Congress that passed the legislation it must be the will of the people…

Last question: What happens when you guys pass this proposal and then 36% of the dao members still feel underpaid?

Mark11

Hmm

Thanks Mark

Great advise I'll get on it myself meanwhile ser