Proposal for Inverse Finance DAO to cover operations of Community Working Group (CWG) in Season 1, running from October 1st, 2023 to March 1st, 2024.
Inverse Finance is a DAO with prolific on-chain governance and the Community Working Group was created in 2022 to facilitate its social and support layer. After the 2022 exploits and a long development phase, the DAO is now recovering market share as we now have a great product offering in FiRM. CWG spent this time leading the hiring of new team members, helping to organize new working groups, organizing and hosting community and internal organizational calls, managing the DAO’s Discord community, and creating and maintaining a suite of educational and support material including docs, FAQ’s and explainer videos. CWG’s progress in the last 12 months along with the success of FiRM gives us the baseline capacity to take a more aggressive approach and attract and welcome more participants to the community.
Community is ultimately Inverse’s most valuable strategic moat versus the competition. CWG’s primary goals are to maintain and expand community education and engagement, with additional goals of improving product usability and recruiting new contributors. CWG created the docs and have kept them up to date in order to assist users of the protocol. This includes creating multiple explainer videos embedded in the docs.
CWG will continue to ensure that Inverse Finance DAO community members have moderated platforms for communication on discord and the discourse forum. CWG will continue to provide educational material on using our products and how to participate in governance. CWG implements Guild which is an on chain community toolset. It provides us with some sybil protection, discord integration and rewards for users that meet on-chain criteria, and deeper insights into our users on chain behaviors.
CWG conducted feedback interviews with Ohmies and some significant actors in the crypto space together with GWG and provided the feedback to PWG in preparation for launching the gOHM FiRM market.
CWG drove the hiring process for 0xMT who is our current head of PWG, and later for Tabboz, smart-contract dev in PWG.
The Community Working Group’s ongoing responsibilities:
- Discord and forum moderation, assisting in crisis communications with the community.
- Creation and maintenance of the Docs.
- Collecting feedback from users.
- Making user feedback available for product development.
- Promoting Inverse products to the community
- Hosting weekly internal team sync calls, weekly public community calls and weekly community events like poker sessions.
- Producing newsletters in collaboration with the GWG
- Assisting community members in creating proposals (Nakamomo is whitelisted to post proposals to Governor Mills).
- Maintaining relevant “quests” in Guild that grant discord roles for users based on their on chain behavior.
- Leading the recruiting, interviewing, and onboarding process for new contributors.
The most important metric for CWG is retention of community members and it can be followed using discord’s server insights, which Nakaommo will post monthly in the CWG forum thread.
Much of CWG’s work is focused on maintaining the docs, and discord to make pertinent information available for community members. Success can be measured in a decrease or quiet period of support requests in discord and confusion among those who study in the docs, explainer videos, blogs and other educational communication.
Growth in the size of the Inverse Finance community can be followed using both guild and discord’s server insights. The new implementation of snapshot.org could become valuable for gauging wider INV holder engagement and points of view as it doesn’t use delegation. Guild is more reliable than discord for gauging if someone is likely to be an active and informed member of the community as it confirms their on chain activity, which requires extra steps for the user and gives them discord roles. Discord’s server insights are less reliable as it is hard to tell how the metrics are skewed by bot activity, but they have more history. Note that 2948 inactive discord users were pruned on July 25th.
CWG will engage users and discord members in projects and events as follows:
Discord user growth. Season 1 objective for discord server metrics: Increase the number of new members per month to 200.
Discord user retention. Season 1 objective:
Amount of INV used to vote on snapshot votes. Season 1 objective: >20K INV which is double the lower bound from recent Governor Mills participation.
Create on chain quests in guild that strengthen Inverse Finance’s narratives and qualify users for access to gated discord channels, POAPs/NFTs or perks in other community events. Season 1 objective: Increase guild membership from 100 to 300.
Engaging with GWG to produce on chain events such as POAP’s or other commemorative NFT’s. Season 1 objective: Two POAP/NFT events (FiRM 50MM TVL POAP is ready to go).
Producing blog posts and twitter threads relevant to our community, often in collaboration with GWG and other WG’s. Season 1 objective: Author or co-author four blog posts.
Producing explainer videos when needed. Season 1 objective: Explainer video for ALE or FiRM’s L2 expansion.
Hosting contests such as the DOLA strategist contest with gated access to a discussion forum in discord. Season 1 objective: Engage 10 INV bulls & whales, and 50 Community Members (all are guild role holders) in gated polls and discords conversation, and summarize the feedback to the team.
Hosting community events such as poker tournaments with partner protocols. Season 1 objective: Internal weekly poker tournaments and two partner tournaments.
Appearing in public partner events such as Twitter spaces. Season 1 objective: Join 5 events.
Authority to use the funds granted to the CWG msig for CWG duties, cross-WG and cross-DAO purposes outlined in this proposal.
Examine new discord members and ban probable scammers. Assist RWG, TWG and PWG in maintaining communication with the community in times of crisis.
In Season 1 Contributors agreed to move to a standard compensation banding system. You can view the full compensation bands here.
Nakamomo’s comp is unchanged, to be paid as follows. 99Donuts99’s ops comp is moved from GWG to CWG.
|Name||FTE||Band||Pro-rata Monthly Salary||Total for Season 1|
Nakamomo has been a core contributor since December 2021 and created CWG in early 2022. I am a good communicator and have played an important role both in strengthening the Inverse Finance DAO community (created new docs, discord reorganization and moderation, forum moderation), and in the formation of new working groups, including organizing the hiring process.
99Donuts99 is a contributor since 2021 and makes fiat payments for the DAO. This is a vital service as the DAO currently has no other option for interfacing with fiat payments.
|Details||Type||Requested $INV||Requested $DOLA|
|Community Events*||Prizes, Platform Fees||100||3000|
|Education||Vyond Explainer Editor||300|
- Community Events
CWG holds weekly poker sessions open for Community Member guild role holders with 50 DOLA in prize money per table (1-2 tables).
CWG requests a flexible budget as follows to cover unforeseen expenditures that arises during the Season
|Additional flexible budget in $DOLA||5.000|
|Additional flexible budget in $INV||100|
In summary CWG requests the following budget for the 6 months of Season 1.
|S1 $DOLA allowance||S1 $INV allowance|
|Ad Hoc & Tooling||3.900||100|