Title: DAOstewards general delegation thread
Author: 0xBaer for Bankless DAOstewards
ETH Address: 0x8872fd5F66728Fc7cF01898199e162ee26f47BA8
ENS name: bankless.pod.XYZ
Discord usernames: 0xBaer#6344, jengajojo.eth🏴#5896
Bankless Lifestyle: We will help the world go Bankless by creating user-friendly onramps for people to discover decentralised financial technologies through education, media, and culture.
United we stand: We believe decentralisation is paramount in web3 governance. We aim to be the voice of everyday users. We put decision-making into the hands of the collective. We create legitimacy through an environment where the best ideas win.
Net positive engagement: We represent a community aiming to empower all parties involved and develop in a positive-sum manner.
Quality participation: We reward action and embrace risk. We aim to empower the community to continually drive new initiatives by providing a space to self-organize and quickly move from idea to action.
We select value-aligned contributors from BanklessDAO to become delegates in our DAOstewards work stream. The work stream participants meet weekly for every protocol in which we exercise meta-governance and discuss our voting strategy and how to pursue the agenda inspired by our values.
Our Areas of Expertise
- Treasury management
- Contributor economy building and management.
Our Scope of Work and Vision
‘EulerDAO will kick off in three phases for a guarded launch towards full decentralisation of the Euler protocol’ - docs.Euler.finance
To the Euler DAO progressively decentralise itself, DAOstewards have set internal milestones and scope of work.
A: organisational optimisation of the DAO
A1: Optimise existing governance process for phase 1 and gather community feedback
A2: Prepare the Euler Community for phase 2 governance (Onchain governance)
B: Risk mitigation and sustainability
B1: Optimise the money market parameters of the Euler protocol for efficiency through reduced risk.
B2: Prepare the DAO to overcome the crypto catastrophe with effective mitigation strategies.
C: Open Finance Development
C1: Enable opportunities for external builders to build on top of on Euler protocol
C2: Make Euler DAO future-proof by incorporating leading standards and innovations in the web3 space.
DAOstewards aims to build an effective democratic system within the Web3 landscape and experiment with participation methods like Liquid Democracy. The Current governance process of the web3 ecosystem in general and Euler DAO in particular need to be optimised to accommodate the dynamic participation of the community.
Our core aim during phase 1 is to build ‘Protocol Experts’ who know the ins and outs of Euler Finance and governance. This approach will enable us to have quality participation from the community to Euler DAO before opening doors for more complex On-chain governance.
The Defi ecosystem is nascent and ever-evolving; the fragile nature of the ecosystem opens it to a wide range of unexpected risks. Therefore, the Euler DAO should have proactive risk management strategies to secure the protocol and its users during an emergency.
We will be building proposals to adjust different parameters of the protocol and be vigilant on the solvency of the protocol.
We follow a modified version of EulerDAO’s Risk Methodology to assess risk factors for ERC20 tokens.
DAOstewards Risk Methodology.
In addition to the Risk parameters for ERC20 tokens listed by Euler in ‘Ranking Assets’, We are also following a more comprehensive internally developed methodology which assigns risk scores to ERC20 tokens form a scale of 1- 6 where 1 is the best possible score and 6 the worst score.
- Smart Contract Risk
- Quality of smart contract audits
- Days of operation with/without a hack.
- Nature of the source code: the ability to inspect, modify, and enhance
- Number of independent audits
- Distribution of the token across the stake holders
- Ability to mint/burn arbitrary amounts of tokens
- Role of a DAO if any
- Controlled by a meatspace entity or DAO
- Price fluctuations over 30 days via Bollinger bands
- TTV; total trading volume over 30 days and 50 days
- Relative Circulating Supply = Circulating Supply/total supply
- Total market depth
- Relative market depth (token depth /depth of WETH/USDC)
- Distribution of volume across chains and pools
- Oracle Risk
- Stable chainlink price feed
- Cost of moving Uni v3 TWAP
The Euler DAO will only succeed if we build a thriving ecosystem around the Euler protocol. Need to enable external builders to launch their projects on top of Euler and trustlessly govern the Euler ecosystem. Read more on the Future of DAOs.
We help individual proposal authors in Euler DAO develop their ideas into quality proposals addition. We allow authors to pass the snapshot proposal threshold if their proposals have successfully completed eIP phase. (completed Phase 3 in the proposal lifecycle). If you want feedback on RFCs, ping our team.