We are asking the community (we need a name for Lido holders still) to discuss and vote on a resourcing and compensation committee (RCC) to streamline the hiring, onboarding, remuneration and payout process for DAO contributors below the senior-most level. Team leads or department heads for example would still be subject to the proposal-based hiring process governed by the DAO.
Lido is a DAO. DAOs are by definition supposed to be decentralized. It is paramount that the community behind a DAO drive key decision-making. However, as a DAO grows and becomes complex, there will be an increased need to delegate minor or highly specialized tasks to reduce operational burden. This way, we hope to reduce voter fatigue on matters they might lack the time, interest or technical expertise to carefully consider.
All DAOs face the challenge of striking a balance between direct community involvement and delegating responsibilities. Our proposal takes a lot of the learnings from Maker’s governance process and how they operate their core units.
Thanks in advance for reading and commenting on the RCC proposal.
Create a governance committee dedicated to managing, executing, tracking, and reporting on hiring and contributor-related operating expenses for full time DAO members.
Allow the committee autonomy to deploy a bi-yearly allocated resourcing budget as they see fit with quarterly reporting on the decision-making process and allowing for community feedback. Budgets will be proposed on an annual basis and may be revised during the year. Funding for each “budget period” (6 months) will be disbursed from the Lido treasury to the RCC wallet twice a year, via DAO vote.
Eventually, once Lido’s departments grow large enough it will be necessary for each department to take on this work independently, but for now, there are both efficiencies and privacy-related motivations to conduct all of this work through one committee.
Budgeting details will be in a separate proposal to not distract from the operational considerations of the RCC.
The current onboarding process for new DAO members is burdensome and comes with privacy concerns to a lot of individuals. While there are tools to reward contributors such as Coordinape, these lack additional features to fit Lido’s needs in the short term.
The current process myself and Izzy went through is not for everyone. There is also a tremendous overhead to get gas costs or simple reimbursements handled by team members and is the reason for this proposal. The goal is to establish a budget paid out twice a year to the committee for managing payroll, work related expenses, reimbursements, and travel.
As the teams grow, we will plan to split each team out into its own committee to be managed by the team leads with oversight from other team leads, the DAO, and neutral community members.
I propose a founding committee of current team leads as well as an open call to community or DAO members to provide additional oversight. If you are interested please reach out here or through other channels.
The RCC should be considered part of the Financial Operations Team along with the reWARDS and LEGO committees. The Financial Team will be proposed at a future date.
After comparing a number of service providers, Utopia Labs was selected for our specific needs right now. It allows for payments to our contributors with minimal private data being exposed on-chain, invoicing, but also audibility of payments through on-chain tracking and is built on top of Gnosis Safe for durability. Changing providers or adding new providers is considered within the committee’s operating mandate and will be disclosed in committee updates.
|Multi-account management and overview||In next version||In next version||In next version|
|Team management and app roles||Yes||Yes||Yes, advanced|
|Reduced / Free gas fees (mainnet)||Yes||Yes||No|
|Transaction Approval||In app or via Gnosis Safe||Gnosis Safe or in-app (next version)||In app or via Gnosis safe|
|Treasury / asset management functionality||Yes||No||Yes|
|Data export||Yes||Yes||Yes, advanced|
|Analytics / Reporting||Intermediate||Basic||Intermediate|
|Support for streaming payments and vesting contracts||In next version||Within 2022||In next version|
I propose an initial committee member review within the first 6 months pending proposal approval to discuss change management and/or areas for improvement.
- RCC Multisig - to be added once final members are agreed upon
- Designated Contact: TG - @jbeezy1
- Quorum - 3/5 to start, transition to a higher threshold with community oversight
Proposed initial signers
- Jbeezy from Lido, Business Development Lead
- address: 0x039bDD285d3eDb1D9B6001d3097067Aa2AF7d826
- Izzy from Lido, Master of Validators
- address: 0x783EA934d543CD1ccfd920639A7539a0BD3895e2
- Kadmil from Lido, Technical manager for the DAO
- address: 0x9A3f38AF97b791C85c043D46a64f56f87E0283D4
- Aurelius from Lido, Operational Manger
- address: 0x7A29c1197962D1b42FcfA8095fA1dF66E489fCd6
- AD from Lido, Marketing Lead (to be formally proposed for a vote next week)
- address: 0x0d22e69ce47818c3524Fe952e8De7AF78cC3C43b
- Open call for 2 community members to provide additional oversight