Co-authorred by: @bayar @modao824 and @vandynathan
Summary
DappRadar Foundation has been activated, opening the path for DappRadar DAO to activate the DAO Core (the day-to-day DAO contractors and contributors) utilize the Foundation for its operations. To set up the initial operational framework for the DAO, the Proposal proposes forming and funding a Progressive Decentralization Workstream to formalize the legal, finance, and governance structure, and other tasks to ensure that more contractors and contributors can start working towards scaling the DAO’s mission.
Motivation
Our Whitepaper outlines the acceleration of Progressive Decentralization and engagement of the DAO community to scale our data and discovery mission. This Proposal seeks to activate the DAO Core and define the DAO Contractors’ role and DAO Operation & Product Process through the Progressive Decentralization Workstream (PDW).
The establishment of the PDW will (1) formalize the roles, responsibilities, and shift operations to improve our ability to execute DappRadar’s product and platform strategy, with appropriate transparency and accountability mechanisms and (2) provide education and onboarding programs for DAO participants in operations and DappRadar UAB team to work as a DAO.
Abstract
The market opportunity and strategic goals for DappRadar DAO have become increasingly clear: the World’s community-owned and operated Dapp Store, built by millions and used by billions. On one side, this means hundreds and thousands of users on our platform, and a community of contributors and partners that will actively curate and contribute to scaling the quality and quantity of our data, and maintenance of our platform. For the DAO, this means that hundreds of thousands of customers will utilize data through our platform and API to gain insights and other purposes.
The activation of the DappRadar Foundation in DCP-19 outlined and transferred the DAO’s IP to DAO for it to be under the community’s ownership. It is the goal that the DAO will eventually be ultimately responsible for all the DappRadar products and their associated revenues and costs. The next step is activating DappRadar DAO Core.
Activating the DAO Core
As an early-stage Web3 venture, DappRadar DAO needs to balance the tradeoff between community-based contributions and scaling its product-market fit. Currently, the DAO and it’s Foundation has no formal employees/members, beside the main director. Therefore, a DAO Core team is required to coordinate community, contributors and decisions within the context of a fully remote and distributed team. All while balancing the competing needs of quality, transparency, risk, decentralization, and speed.
The Progressive Decentralization Workstream will be the first established Workstream of the DAO Core. They will be the first formal Core Contributors building, operating, and managing the DappRadar platform day-to-day organized into different Workstreams. These Workstreams will create their own goals, metrics, and budgets as proposals to the DAO. The members of the DAO, users holding RADAR, will elect new Workstreams through DAO governance, starting with the Progressive Decentralization Workstream.
Progressive Decentralization Workstream
The Progressive Decentralization Workstream will be responsible for:
- Assessing and Identifying Areas for Decentralization: Evaluating DappRadar’s current operational, governance, and decision-making processes to identify areas that can be decentralized without compromising efficiency or security.
- Responsible for executing on DappRadar DAO’s strategic vision into actionable projects and workstreams against proposed budgets, timelines, and quality expectations.
- Strategy Development and Implementation: Creating a phased decentralization plan that includes clear milestones, with an emphasis on gradual transition to avoid disruption to improve our ability to execute on DappRadar DAO’s product strategy.
- Community Engagement and Governance: Establishing frameworks for community governance, including proposing and voting on decisions, to ensure that DappRadar’s direction is aligned with its users’ interests.
- Partnership and Ecosystem Development: Building relationships with other decentralized projects and platforms to foster collaboration and integration.
- Education and Communication: Developing resources and channels to educate the DappRadar community about decentralization efforts and to gather feedback.
- Implement appropriate accountability and transparency mechanisms.
- DAO Operations framework: This framework will explain how the operations will work concerning the key performance indicators and reporting obligations.
Finance tasks
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Set up the accounting for the DAO, from obtaining reliable transactional information to defining accounting policies and the financial close process.
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Define and prepare periodic DAO financial reports
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Financial modeling of RADAR treasury balances and RADAR emissions, estimating buying/selling pressure
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Define budgeting and application processes, to enable the formation of other workstreams
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Propose good practices for treasury management, payment flows, and wallet management, to enable other workstreams to function and be funded adequately
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Define processes for project monitoring, to review the progress of various workstreams, based on agreed-upon KPI
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Define RADAR buy-back strategy and propose RADAR buy-back program
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Set up framework for the Investment Committee
Legal Governance tasks
- Review legal policies for DAO participants (including KYC/AML policy)
- Legal Governance Structure (Committees/Workstream Structure)
- DAO Constitution and By-Laws
- Clear onboarding process for the DAO
- Create a formal process for anyone to provide feedback or suggest changes or improvements to the DappRadar protocol or product
Business Development tasks
- Treasury diversification execution
- Development and management of strategic partnerships
Key Performance Indicators
- Decentralization Roadmap Outlined: Tracking progress against the phased decentralization plan.
- Operational Efficiency: DAO operational framework completed with contractors and contributors ready to be onboarded.
- Community Participation Rates: Measuring engagement levels in governance voting and feedback mechanisms.
- Partnership and Integration Metrics: Evaluating the effectiveness of ecosystem development efforts through the number of partnerships formed and integrations completed.
- User Growth and Retention: Assessing how decentralization efforts impact user acquisition and retention.
Budget/Duration
This proposal is for a 6-month period with a quarterly review to assess progress and adapt strategies as needed. The proposed budget for the Progressive Decentralization Workstream is $142,000 and 800,000 RADAR (totals $149,000 at today’s RADAR price). This budget will cover:
- Core contributor fees
- Community initiatives
- Technology development
- Partnership activities
- Other operational costs
Benefit:
- Enhanced Community Engagement and Ownership: The PDW aims to shift significant operational, governance, and strategic responsibilities to the DAO community. This will align with the ethos of Web3 and help to scale the DAO’s mission.
- Strategic Partnerships and Ecosystem Integration: The PDW can significantly enhance DappRadar’s integration with other decentralized projects and platforms by focusing on partnership and ecosystem development. This provides new revenue streams, technical advancements, and marketing opportunities. Ultimately, it will build a more resilient and interconnected ecosystem.
Costs:
- Operational Complexity and Coordination Challenges: Transitioning to a decentralized operational model introduces complexity in coordination and decision-making. There may be initial inefficiencies and delays as the community adjusts to the new operational framework.
- Financial Investment and Uncertainty: The proposal outlines a significant financial investment ($142,000 and 800,000 RADAR) to kickstart the PDW which will require additional accountability and transparency so that the funds are used effectively.
Vote
- FOR: Establish Progressive Decentralization Workstream
- AGAINST: Reject Progressive Decentralization Workstream
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