Proposal to create a Community Working Group

Edit: Draft 1

Draft 1.1 Proposal For Community Working Group

Written by @Nakamomo :space_invader: +#0165

Summary

This proposal aims to create an experimental (3 month) Community Working Group and operating budget to boost community participation and facilitate communication within the Inverse Finance DAO.

Background

Inverse Finance’s community activity is increasing and is adding new members on a daily basis. A few diligent contributors have stepped up, some recently and others for more than one year, mostly on an ad hoc and voluntary basis until the Growth Working Group was formed to enhance our efforts in business development and marketing.

HoIver the Inverse Finance community is in need of its own strategic focus in collaboration with but independent of the GWG. It is widely acknowledged that community is a strategic “moat” for many DAO’s where a great community can sustain even a mediocre product offering, while a great product without the right community behind can suffer from slow adoption or even failure. Inverse today is somewhere in the middle of these two extremes.

As Inverse positions itself to scale to 1 billion in DOLA circulation, the timing is good for a more concentrated effort to build the Inverse Finance community.

Proposal

I propose the creation of an Inverse Finance Community Working Group (CWG), as an experimental effort which, if successful, can be extended by future DAO vote.

Responsibilities for the CWG would include:

Community Recruitment

  1. Onboarding new members
    1. The Inverse DAO has been inconsistent in providing a good onboarding experience for new members and CWG will make efforts to improve it including regular onboarding calls for new members, new documentation to assist new members, and a better Discord channel to facilitate new members. It is also an opportunity to encourage new members to become immediately active on Twitter and other social media as part of the onboarding process.
  1. Defining roles for incoming members
    1. Design more defined roles for incoming DAO members so every new member can see clearly how they can participate and what is expected. Clarify the way we set compensation for members of the DAO.
  1. Improve global member recruitment
  • Inverse’s representation from some global communities could be improved, for example in China. The CWG will look at best practices in other DAO’s for improving the global diversity of our community.
  1. Managing Job advertisements.
  • Inverse WG’s have hiring needs and the CWG can assist in posting new job openings on web job boards and spreading the word about open positions, as well as compensating DAO members for referrals.

Community Engagement

DAO Events

1. Community Calls
  • CWG will host regular community calls

  • CWG will organize other community-wide calls to promote new products, partnerships, or other noteworthy events taking place.

    1. Contests
  • Our recent logo contest was a good example of getting new members engaged but there are other contests we can run to attract new members and engage current members.

  1. Games
  • Collaborate with Akarin from GWG who has been leading our poker nights Other games considered are Jackbox, virtual Jenga, Karaoke. We can also have poker tournaments or play other games in metaverse spaces such as Decendtraland or gather.town
  1. Surveys
  • Use survey monkey or Dyno bot to get a better understanding of the types of events that the community members are interested in and to measure the ongoing pulse of the community/find new ways to improve the Inverse community
  1. Partner Events
  • DAO-wide AMA’s with Partners
  • Floki invited Nour to an AMA at their TG channel when we added FLOKI as collateral to Anchor. Inverse can have similar events inviting leaders from partner projects to our community stage for AMA’s, etc.

Governance

  1. Raising awareness of new proposals, voting opportunities
  • We can do more to encourage comments and inputs on new proposals

  • CWG can organize, if desired, community-wide calls to discuss new proposals

    1. Pose questions to delegates
  • One of the pillars of IF’s governance system is the ability to delegate votes and to take the role of a delegate, and vote on the behalf of your delegators. CWG will pose public questions to the delegates in order to stimulate conversation as new proposals come forth.

  • Delegate AMA’s

Other

Inverse merch store

  • There have been several efforts to get IF specific merchandise in the past and CWG will set out to complete the task.

Organization

The CWG will be led by @nakamomo who will serve as chair of the CWG. Participants in the CWG will have opportunities to propose new CWG projects and experiments.

Budget

I forecast a 90 day budget of 20,000 DOLA as full-time salary for Nakamomo who has been a very active member in several parts of Inverse DAO, officially as Project Manager for the launch of INV+ since December. I also anticipate a modest amount of spending for ad hoc contributors to the CWG for things like research, articles, recording calls and interviews or referral bonuses for those introducing us to new engineering candidates or other valued contributors. I am also anticipating up to 16,300 in DOLA during this period for job advertisements, gaming expenses, and a small amount of INV-branded merchandise to be used for giveaways and incentives that we create through a new Inverse merch store or suitable outlet.

Category Description Estimated 3 Month Costs
Salaries Nakamomo (FT) 20,000
Ad-hoc contributions TBD contributions to CWG efforts 6,000
Recruiting Job Advertisements 2,000
Events Gaming licenses, Prizes 2,500
Merchandise & Art Payments for art/design work done on behalf of CWG 1500
3 Month Total 32,000 DOLA

This budget is an estimate of the maximum I expect to spend during this test and any unused funds will be returned to the treasury

Transparency Commitment

Each month the CWG will share a report with the INV DAO that provides updates including

  • Summary of funds spent
  • Updates on funded experiments
2 Likes

Inverse is ready for a dedicated group devoted to building and strengthening our community as a strategic advantage. I’ve worked with @nakamomo, @akarin, and @99donuts extensively and know they will do their best to make this test a success.

4 Likes

The community has been and will always be our most valuable asset at Inverse. I totally support this proposal since it formalize the commitment and participation of some of our most active contributors.

2 Likes

Repeating this comment from the Governance General channel:

Regarding the salaries I think it’s too much. That’s $57,000 over 3 months, which equates to 3 salaries of $76,000 per year. I don’t see the need for the salary equivalent of 3 full time workers for community to begin with ($57,000 * 4 = $228,000 over the course of a year is absolutely crazy for community work).

I would propose:

  • 1 person full time as Community WG lead at a salary of $76,000 (so $19,000 for the 3 month trial)
  • 2 people part-time to support the lead at $25,000 per year (so $6250 each for the 3 month trial).

That would make the salary budget for this proposal $31,500 for the 3 month trial.

The other line items seem reasonable to me, so I would support this proposal with a reduced total allocated to salaries

2 Likes

This budget includes comp for @Akarin who also does a lot of work in GWG as most of you know, as well as @99donuts who is our full time Telegram support/mktg/community lead plus discord mod/support plus he’s active on Twitter and has been paid last 2 months via GWG. I do not believe we should reduce spending here though if we need to fund @Akarin via GWG that may be one way to tighten this CWG budget. Also I have no problem with continuing to fund @99donuts via GWG though to me it’s pretty clear that what he is doing is the heavy community building we really need and CWG would be make more sense but also could be something we do after the 90 day CWG test. Also don’t believe we should ask anyone included in this proposal to take a cut in pay.

1 Like

Community Working Group Survey

After submitting the CWG proposal to Inverse Finance’s forum, we created a survey to gauge the interest and priorities of the IF community. The survey had 10 participants, see the survey results in the slides.

The respondents place high value on both org structure and engaging activities .
In more specific areas of focus, onboarding stood out with 100% hit rate followed by recruiting. Community games and Non-English also had more than one vote each. All options got at least one vote other than Partner AMA’s and Research DAO tooling.

Regarding events, Poker Tournaments are the favorite, closely followed by Partner AMA’s and Twitter Raffles/Spaces. Online games and Decentraland gatherings both got votes but less than half of the others.

The open comment box generated a lot of great comments. The sentiment is clear, the CWG should focus on onboarding and educating new members and also to create an enjoyable working environment.

  • Dola and INV adoption growth
  • Facilitating the Onboarding process.
  • The primary goal of the CWG should be to grow the community in terms of the number of members and social media presence online.
  • increasing the number of active contributors in discord & number of proposals on forum
  • Growing the community in size, onboarding new members
  • Education of new INVaders
  • Educating people about Anchor, DOLA, and Inverse.
  • making a friendly inclusive environment people want to be a part of, invest in, and contribute to.
  • Expand the community, get Asia to join the convoy properly

Six respondents commented that they are interested in participating and assist the CWG to some extent.

1 Like

A quarter million dollars is too much for community work. Base salaries should be reasonable, happy to talk about KPI-based incentive structures. Will not vote for with the current proposed salaries.

Also, we aren’t talking about GWG work here - that’s a separate issue, ofc you can organize to pay out of GWG budget whatever you’d like to.

After discussions within GWG, I have edited the CWG proposal. I will be working closely with @Akarin and @karm regarding community activities but they will remain in GWG under their current commitments.

2 Likes

Inverse Finance Community Working Group Budget Summary
26th March - 30 April 2022

The Community Working Group was established a little over a month ago and has successfully carried out several of its tasks.

On-boarding

Starting out, I focused on onboarding as the initial CWG survey prioritized onboarding higher than any other topic. I re-wrote most of the docs to be more beginner friendly and will continue that effort. Both the weekly orientation calls and community calls have been highly appreciated by the participants and have proven to appeal to both retail and institutional visitors. Working group leaders have presented the latest progress, questions are answered and our new developers have been interviewed.

Mestigoit cleaned up the orientation slides to match our graphical style which made the orientation calls more appealing and easy to follow.

Gaming

Gaming sessions have had good turnout and proved to be a great social surface for contributors and newcomers to meet in a relaxed setting. With a prize of 50 DOLA in the poker pot (other than the first game), CWG has paid out 300 DOLA to: Edo, Cryptoharry, Nakamomo in order of winnings. Kudos to Ben_Lavabo who won but let his winnings roll over to the next game.

Merchandise

I have been exploring several crypto-native merchandise providers and degen.supply stood out as the most responsive. We received a selection of graphics to pick from and will publish a community vote survey to decide which ones to use.

Discord Roles

Me and Karm have been making changes to optimize discord channel layout and permissions structure. Karm has been very responsive as discord admin.

General

I have kept a continued presence to keep the logo, branding and style guide process going.

At the 4/2 incident, I was present in the war room discussions and joined the other core contributors in our Twitter spaces to assist in the response. Along with banning bots and other moderator duties, I have edited our articles on the topic and helped respond to distressed users in discord and the orientation calls.

We decided to celebrate diamond handed stakers by distributing POAPs representing Inverse Finance entering the curve wars in response to the 4/2 incident to their wallets. Karm did research on POAP distribution, Ishita made a fabulous image and I am coordinating with GWG to time the release.

Spend

CWG has spent a total of 8716 DOLA as of 30th of April 2022.

Line Item DOLA
Comp 8056
Design 360
Games 300

Going forward
After conversations in the Growth Working Group, we have decided to move the responsibilities of our moderators to the CWG which means that Donuts will receive comp from CWG.

The regular community, orientation calls and poker meetings will continue in line with the CWG mandate.

Voting for merch graphics will be out shortly.

Partner events like twitter spaces with yearn, badger or others are still in the cards.

1 Like

Inverse Finance Community Working Group Budget Summary
1st may - 31st May 2022

On-boarding
Community calls, orientation calls and poker tournaments all have gone well each week.

I checked in with all core contributors for feedback on the on-boarding process and to make sure that expectations are aligned throughout the organization. This resulted in a draft document outlining contributor compensation guidelines. I will create a community event, possibly in gather.town unless in Discord, for wider community feedback. I also created a proposal to update their (our) compensation to match the scope of their impact and effort. My comp is moved to the payroll contract and the CWG allowance has been reduced by a corresponding amount.

Gaming
The poker tournaments has a returning crowd but newcomers also find their way there. These sessions have turned out to be the firs vocal interaction for multiple community members who have been contributing without speaking or who have been hesitant to approach us.

Merchandise
Merch designs are underway and I expect the merch to be available before the 25th of June.

General
I overhauled the docs for the Frontier name change and added new yearn assets.

Release of 4/2 Inverse Finance Army Badge NFT finished with 97 claimants so far.
NFT for our entry onto Optimism and Velodrome is up and will be available to claim as DOLA gets bridged to Optimism. Claim it if you stake INV!

Our discord was at times swarmed with bots and me and the mods have done a fair bit of bot banning. Thanks to @karm for fixing our spam protection.

@0xMT suggested that we start a weekly voice call to speak about something that is topical that you found in a book, article, podcast or elsewhere and discuss it. Book Club Tuesdays was launched this week and we welcome the community to join us in the coming weeks.

Spend
4946 DOLA comp to Nakamomo for 1-23 May as Head of CWG.
2000 DOLA com to 99Donuts99 for moderator work.
200 DOLA in poker winnings have been paid out to 0xMT and Edo.
7146 in total.

Other
Nakamomo has also assisted GWG, product and ops:

  • Taking on on-boarding responsibility from ops regarding comp for new core contributors.
  • BD work resulting in DOLA to listed as collateral votes on app.perp.com when arriving on Optimism along with veNFT votes for DOLA LP’s.
  • Authoring a tweet thread and blog article on velodrome and optimism.
  • Listing of DOLA on stablecoins.wtf.
  • Assisting in product prioritization.
  • Assisting in driving the brand and logo creation.
  • Appearances on one-off events such as Cult DAO and Frontier TW spaces.

Inverse Finance Community Working Group Budget Summary

1st June - 25th June 2022

The Community Working Group led by @Nakamomo has created natural entry points for new visitors and contributors since its inception three months ago. CWG has maintained a cadence of calls throughout the week and now take on the role of Governance Steward to further governance awareness and general liveness within Inverse Finance DAO. Continued funding of CWG is important as community retention makes a critical difference during prolonged market downturns, keeping our valued contributors in-house and fostering an uplifting DAO culture.

Accomplishments

  • The weekly Community calls has been an important meeting place both for informing the community about the latest goings-on, but also as a place to ask questions and iron out misconceptions. Several people have chosen the community calls or the poker table as the place to break the ice and have a chat with team members for the first time. Among them was @CMeth who is now making a name for himself as a new contributor to TWG.
  • The Weekly Orientation calls similarly have been the first touch point for two categories of users who all found what they were looking for. The first being new entrants into the cryptocurrency space who need basic information, and the other being DeFi natives that I can inform and send on to the appropriate working group such as investors looking for an OTC deal or large CVX holders looking for INV in exchange for their gauge votes.
  • Weekly poker games. The poker sessions keep being a great social melting pot with an uplifting atmosphere.
  • Me and 0xMT started Braintrust interviews on every other Tuesday where we invite core contributors to have a birds-eye discussion of overarching topics relevant to Inverse Finance DAO, the topic of the first session being the Ethereum merge.
  • Discord moderation has gone well despite a couple of bot storms. Thank you Donuts and @karm for your vigilance. Karm and I also updated the topic and role structure in Discord.
  • I have updated and overhauled the Docs to be more beginner friendly and up to date with our current product offering.
  • Inverse Merch will be available to buy from degen.supply on Thursday, 30th of June.
  • Moderated and participated in Twitter spaces events
  • I began what is to be a living document outlining our contributor guidelines and guiding principles. Thanks to @0xMT for input in its early form.

CWG Spend
CWG has spent a total of 18,112 DOLA as of 25th of June 2022.

Line Item DOLA in April May June TOT
Moderation/Support 2,000 2,000
Gaming Prizes 300 200 250
Comp 8,056 4,946
Design 360
Total DOLA 8,716 7,146 2,250 18,112

The Community Working Group was proposed by Nakamomo and formed on a 3 month experimental basis on Mar 29th, 2022. More detailed updates can be found in previous forum posts but after discussions among core contributors, the original CWG responsibilities have since expanded to:

  • Governance stewardship. Leading calls discussing new proposals, field community input, and assisting in the proposal editing process. Bring better overall community visibility and interaction to new governance proposals.
  • Initial on-boarding of new contributors
  • Compensation. Developed a new onboarding process and contributor guidelines relating to ad hoc compensation.
  • Community calls and activities (Orientation calls, Gaming, Braintrust Interviews)
  • Merchandise
  • Promotional NFT’s
  • Docs updates
  • Discord moderation
  • Telegram moderation

I propose that we continue to fund the CWG for an additional 180 days, refreshing the budget allowance every 3 months. I will be posting a proposal on Governor Mills to adjust the CWG multisig DOLA allowances to match another 3 months:

Description Estimated 3 Month Costs
Moderation/Support 6,000
Ad-hoc Contributions to CWG 3,000
Job Adverts 1,000
Gaming Prizes 1,000
3 Month Total 11,000 DOLA

Finally, a big thanks to @patb and all core contributors. You are a joy to work with!

1 Like