I would like to suggest an V2 for the MSS as the current structure is not promoting an ownership mentality and losing the DAO money.
Background:
The ARDC V2 received its allocated funds after the Tally proposal passed (approx 90 days ago) - see Multi-sig wallet here. Despite as stated in the ARDC V2 proposal that passed on Tally that “Upon receiving the ARB, we will convert 1.73M USDC worth of ARB” no ARB was converted until ~ 20 days ago.
I do not want to point any fingers and am aware it was a holiday period but I want to point out that the current structure doesn’t incentivize proactiveness. The program was set up with a 20% buffer to allow for volatility (calculation here) but now as a result of the delays the ARDC team is currently sweating, praying to market gods that the allocated ARB will cover the full budget (the majority has been converted to USDC see Aera Vault, we have 1.01M ARB remaining of which 180k are set aside for the Supervisory Council and the rest is being converted over the next days to reach a total of 1.73M USDC needed. I am aware that ARB is highly volatile and had we not had enough funds because right after the Tally vote the price dumped, I would have understood. But this is not what happened (see attached screenshot)
So how could we prevent this from happening in the future?
Tying MSS comp to performance
Chairs and “simple signers” to be rewarded with 50% base and 50% bonus (bonus to be paid every 6 months) if programs have been supported successfully.
What is success
- responsiveness in telegram chat and for signatures (<24h during weekdays, <48 hours on weekends/holidays unless heads up is given ahead of time; head up = out for x days from date to date)
- proactiveness for chairs: as soon as funds are allocated they need to be converted within X days; in case this is being delayed the chair needs to give valid reasons why this was the case
What needs to be solved to make this work:
- who gives feedback (program managers of the respective programs? An “independent” party like @immutablelawyer?)
- does each chair/owner get feedback per program and does one unsuccessful execution cancel out the entire bonus?
This is just a thought starter, not by all means a complete solution. Looking forward to hearing other suggestions I know we can do better than the status quo.
