Summary
This RFC is proposed to get the opinion of the community regarding Athena Consulting working on increasing the runway of the project, connecting to potential investors, exchanges and protocols, and finally creating strategies for a sustainable future for mStable and creating a team to sustain it in the future.
Abstract
I am Georges Chouchani, the founder of Athena Consulting, and this RFC comes from a discussion in MIP29 that opens the discussion to the future of mStable in regards to what has been happening in the last week. I believe that the project as a whole should not be shutdown because there is a chance that the project can succeed if it is able to increase its runway until the next bull run. Also, the opportunity cost of just shutting down is too high, and brings no extra value. This is not a sales pitch for my consulting firm but a call for action, although I believe we have the skills and connections to bring immense value to the project and make it a sustainable project on the long run.
Motivation
mStable has a very uncertain future with a lack of motivation from the current team and community to continue to sustain the project as is. From our experience, the more time passes without action, the more the project is destined to fail, as the runway is getting shorter and trust is decreasing exponentially. But, mStable has a strong idea and intellectual property (smart contracts, TV etc…) that it can be worked on and adopted to become a successful project. The goal is to keep the project as long as possible alive since opportunity comes only to projects that can exist.
The goal would be to find a sustainable team and subcontractors from our connections for a long enough runway, build IP slowly and increase value of the project, and finally fix previous issues that are in the project such as the MTA token (no real utility) etc…
We believe this is the best road towards success of the project and the most beneficial for MTA holders.
Pros
- Increase of runway for the project by cutting costs aggressively and working with good cheap subcontractors outside of NA/EU
- Creating strategies to increase the value of mStable and build new projects that bring in new investors and users.
- Preparing the project to self-sustain in the future and hiring a team when Athena is done that is up to the challenge.
- Giving another chance for the community that has invested a lot of time and money into the project.
Cons
- May possibly end up just delaying the eventual shutdown after the runway has been increased if the bear market takes too long.
- Some in the community may prefer to find a faster exit strategy due to frustration, although that may hinder the amount to be salvaged.
Next Steps
We believe at Athena Consulting that this is the best course of action and the cheapest for the whole community. We will open this to discussion to see what the community thinks and then Athena Consulting could write out a more detailed proposal on Github for review that may entail either a short-term (4-5 months) consulting gig for Andromeda to create the solutions and implement a longer runway, or taking over the development team and working on the long term until the project becomes self-sustainable.
