TDP 33 - Community subDAO Creation and Funding

Simple Summary

This request is to propose the creation of an mStable Community subDAO and seek ongoing funding for mStable community initiatives including the Metanaut Coordinape circle, payment of DAO Signers from the community, payment of Discord Moderators, providing MTA for tipping in Discord, and running events and giveaways for the broader mStable community.

Abstract

As mStable continues to decentralize and prioritizes building a strong and engaged community, there is a need to be able to reward community members for their contributions to the mStable ecosystem.

While the GrantsDAO focuses on larger projects and more formal relationships, a number of opportunities have been identified which can allow mStable core team members and other community members to distribute rewards fairly to active community members.

The mStable GrantsDAO has provided an initial grant to bootstrap funding for the community initiatives in Q4 2021. This consisted of 11,500 MTA allocated to the following areas:

  • Metanaut Coordinape Circle (6000 MTA)

  • Discord Moderator Payments (3000 MTA)

  • Contests and giveaways (2000 MTA)

  • Tipbot (for tipping in Discord) (500 MTA)

These funds are currently disbursed via a multisig account controlled by mStable core team members across Operations, Community and Business Development.

In order to continue these successful initiatives, this group is proposing the creation a Community subDAO and requesting ongoing quarterly MTA funding.

Motivation

This funding would provide a sustainable way to incentivize and reward community contribution to the mStable ecosystem, while reducing the governance overhead of small individual funding requests.

Specification

Use of Funds

Requesting funding of a maximum 27,500 MTA per quarter at the beginning of each quarter, starting in Q1 2022. This amount has been calculated based on the following estimated spending:

  • Compensating 3 community signers across the ProtocolDAO & TreasuryDAO: 12,000 MTA (1,000 USD worth of MTA per signer per month, based on current MTA price of 0.75 USD as minimum)

  • Coordinape: 7,500 MTA (Max 2,500 MTA per epoch with 3 epochs per quarter)

  • Moderator Payments: 6,000 MTA (500 USD worth of MTA per moderator per month, based on current MTA price of 0.75 USD as minimum)

  • Contests and giveaways: 1,500 MTA per quarter

  • Tipbot: 500 MTA per quarter

We would not expect all of the funds to be used every quarter. To allow only a small buffer to accumulate, the account will be topped up to a maximum of 30,000 MTA each quarter (plus an allowance for any outstanding accounts payable from the previous quarter).

The amounts specified above for each activity should be considered a rough guideline and actual spending may vary slightly quarter to quarter based on requirements.

Community subDAO structure and responsibilities

  • The Community subDAO would be led by the mStable “Lord of the Discord”, Penguin, who would have the responsibility of initiating transactions to disburse funds, keeping accurate records of transactions and communicating with other signers.

  • New Gnosis safes will be deployed on Ethereum mainnet and the Polygon PoS network and remaining funds from existing multisig will be transferred to these safes. Safe address will be shared upon approval of this TDP.

  • Proposed initial structure is a 2/3 Gnosis Safe with the following signers:

    • Penguin (mStable Lord of the Discord)

    0xA5DfE92D76590d169d6A622E35E223a07627A2b3

    • Derrick (mStable Growth & Partnerships)

    0x9E0F8D06E68Af898E584C4054474124B092277Dc

    • Cam Soulsby (mStable Operations)

    0x524269E900ca6ebe2FC57d719995c8D167F8b260

  • Given the smaller amounts of MTA that will be disbursed by this subDAO, Gnosis Safes will be created on both Ethereum L1 and Polygon PoS. Funds will be bridged and distributed on Polygon unless L1 payments are specifically required.

Copyright

Copyright and related rights waived via CC0.

1 Like

Thanks for the addition of the Community Signers to this list! Fully on board with this, since this would provide more autonomy and fast execution.

If there are no objections will move forward with the vote on Monday.

1 Like

Vote is up: Snapshot

After the succesful Snapshot vote, Gnosis safes have been deployed on on mainnet and Polygon and will be funded for Q1 next week.

Ethereum: https://gnosis-safe.io/app/eth:0x2729E812224538533b52a35d9393403Dc4FF48BF

Polygon: https://gnosis-safe.io/app/matic:0x5a3d4F85A7A055d291f78B8b31Aa79a6F80c658C