Only a few minor changes are needed for Funding Cycle #4. All of the focus areas remain the same, with the addition of one new area for "Protocol upgrades". Updates to each are outlined below.
As a DAO, we should continue focusing on the following areas:
Goal: Make sure things don't go to zero.
Current team: jango (lead), exekias
- One low severity bug was discovered, an explanation of what happened can be found here, and a postmortem is available here.
- We're underway with a baseline audit being performed by DeFiYield.
- We still need to outline a bug bounty program with associated rewards for discovered vulnerabilities of varying severities.
Goal: Improve and make templates for project onboarding and the project dashboard.
Current team: peri (lead), jango, exekias
- Added Web3 connect support for various other wallets using blocknative. See this PR.
- Updated the "Projects" page of the site to be sortable by "Total earned".
- Added a data feed to each project feed to view total amount of ETH contributed by each address.
- Several bug fixes.
Project support, education, & docs
Goal: Make sure JB projects have the resources they need to get started and thrive.
Current team: jango (lead), natimuril, WAGMI Studios, CanuDAO
- Helped SharkDAO launch an AMM pool for their treasury token.
- Several conversations with projects that are interested in building their treasury using Juicebox. Actively workshopping solutions for ScribeDAO and Phlote, with FingerprintsDAO, $Loot, and a project by NiftyTable also on the radar.
- No significant updates on tech or process documentation. We need to make progress here as we continue to understand the materials that projects and contributors need to be successful.
Goal: Give projects rich insights into their community treasury.
Current team: peri (lead), buradorii
- A new data feed that shows how much each address has contributed to each project has been added to each project page on juicebox.money.
- Progress has been made on charts that show a project's P&L using Flipside analytics tool.
- We have yet to deliver a data dashboard to projects. We're still working towards this end.
Goal: Add support for JB treasury tokens in secondary markets.
Current team: exekias (lead), jango
- SharkDAO's SHARK token has been pooled with ETH on Sushiswap, you can see the analytics here. SharkDAO's Juicebox page was closed during this transition, with plans to reopen in the coming days.
- Research is underway to provide a staking contract to projects where LP rewards can be distributed.
Goal: Give JB projects a place to sell digital goods (and physical?) which pipe percentages of revenue to any number of addresses and Juicebox treasuries.
- Current team: nicholas (lead), jango, peri*
- Researched how other protocols are doing split payments.
- Finalized the user journeys that we're trying to solve.
- Begun workshopping how the contracts should be architected.
- Begun ideating on what the UX should be.
Goal: Plan out how we will make decisions together.
Current team: zheug (lead), unicornio
- Created a process schema to follow when making proposals, voting on them, and conveying the decision on-chain.
- Created a Coordinape page where we can experiment with reputation assignment.
- Governance meetings are beginning to happen regularly on Tuesdays.
Goal: Evolve the protocol to be more useful and remove friction from the treasury management process.
Current team: jango (lead), exekias, peri, nicholas
- A TerminalV2 contract is well underway. This update will allow projects to customize their treasury strategy entirely. Details tbd, implementation and ongoing tests can be found here.
- TerminalV2 will patches an edge case bug found, mentioned earlier under "Risk mitigation"
My proposal for FC4:
Duration: 14 days (no change)
Ballot: 3 day delay (changed from 7 day) A reconfiguration proposal must be submitted 3 days before the end of the current funding cycle. Reconfiguration decisions are feelings a little rushed. Changing the ballot delay from 7-days to 3-days gives us a bit more time than what we currently have for evaluating proposals and conveying changes on-chain.
Discount rate: 10% The discount rate should continue to compound at 10% to reward contributors who continue to fund the JuiceboxDAO treasury at this risky stage.
Bonding curve: 60% (+-0%) No need to change this. Still arbitrary, but there's no demand to redeem right now, so might as well keep it this tight as we adjust the discount rate.
Payouts: $33.5k total
I propose we pay exekias, nicholas, nati, and buradorii slightly more.
- jango | dev: $10k (no change)
- peripheralist | dev : $10k (no change)
- CanuDAO |comms:$2.5k (no change)
- WAGMI Studios | art, animations, and educational content: $2.5k (no change)
- exekias | dev: $4k (+ $1k) Exekias has bee hands on with all aspects of the code. Increasingly becoming an integral part of the core dev staff.
- nicholas | dev: $2k (+ $500) Nicholas has begun writing code, he's been an active voice in our community, and he's helping to progress pivotal discussions forward.
- nati | community relations: $1k (+$500) Nati has begun onboarding DAOs onto Juicebox and is also helping progress pivotal discussions forward.
- Buradorii | analytics: $1k (+$500) Buradorii has begun publishing Flipside data dashboards. We've yet to aggregate charts and deliver them to projects.
- Figma, Infura, Gitbook, Mee6 & Fleek subscriptions | $500
Reserved rate: 35% (No change) We should continue to allocate 25% to core contributors, and reserve 10% for ETH/JBX liquidity provider incentives (soon).
Reserved token distribution:
- jango: 35%
- peripheralist: 35%
- CanuDAO: 10%
- WAGMI Studios: 10%
- exekias: 7.5%
- misc: 2.5% - for on-demand incentives paid out by the multisig wallet.