# \[Board Candidate\] Ferengi's Platform Statement **URL:** \ **Category:** Proposals\ **Created:** [November 11, 2023, 3:59am UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534 "2023-11-11T03:59:35Z")\ **Posts on this page:** 10\ **Page:** 1
**Author:** ![ferengi](https://avatars.discourse-cdn.com/v4/letter/f/9fc348/32.png) [@ferengi](https://forum.truefi.io/u/ferengi)\ **Post date:** [November 11, 2023, 3:59am UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/1 "2023-11-11T03:59:35Z")
**Summary** This statement presents Ferengi’s candidacy for a Board Member position at the TrueFi DAO Foundation. It delineates the motivation, qualifications, contributions, and envisioned compensation for the role, leveraging my extensive experience in DeFi, particularly in lending markets and DAO operations. **Motivation** The Board Member role is pivotal in steering TrueFi DAO towards its strategic goals. The Foundation’s limited yet critical responsibilities, including supporting protocol decentralization, managing off-chain processes, and actualizing the community’s on-chain decisions, align perfectly with my experience and expertise. With my background in managing large-scale financial operations and advising DeFi protocols, the candidacy is aimed at enriching the board’s capabilities in financial strategy and operational excellence. **Qualifications & Experience** With a proven track record in the DeFi space, I bring a unique blend of practical experience and strategic insight to the table. At the heart of my qualifications is my tenure as a Treasury Operator at Wonderland, where I as part of a team of two managed a substantial portfolio of $120 million. A key aspect of this role involved orchestrating lending initiatives, a significant portion of which directly interfaced with TrueFi borrowers. This experience not only deepened my understanding of the nuances of decentralized lending but also provided me with hands-on experience in managing complex financial transactions without traditional collateral. This exposure to high-stakes, unsecured lending environments, has endowed me with a profound comprehension of risk assessment and management in the context of DeFi. My role required analysis of borrower credibility and a strategic approach to risk mitigation, skills that are crucial for the oversight and advancement of the TrueFi Protocol. Coupled with my advisory position at Savvy DeFi, I have cultivated a comprehensive understanding of the dynamics of lending markets, positioning me as a well-rounded candidate with both the practical experience and strategic foresight necessary for the Board Member role at the TrueFi DAO Foundation. **Contributions** As a Board Member, I intend to: 1. Leverage extensive knowledge of lending markets to refine and expand TrueFi’s financial strategies. 2. Apply practical DAO experience to enhance governance and operational processes. 3. Foster synergies between TrueFi and other DeFi entities for mutual growth. 4. Champion transparency and community engagement, ensuring the board’s actions reflect the community’s will. **Enumerated Powers of the Foundation** I will actively participate in: - Managing off-chain responsibilities and liaising with service providers. - Acting as an administrative agent in the decentralized lending architecture. - Maintaining a multi-sig for emergency governance interventions. - Other essential functions as determined by the Foundation’s needs and DAO members. **Compensation** The proposed compensation structure includes: - A monthly retainer of $2000, reflecting the time commitment and responsibilities involved. (6 hours per week, paid in DAI or TRU) - Beyond the basic retainer, additional work and operational duties will be billed at a rate of $200 per hour **Probation Period** A probation period of three months, starting from the acceptance of the proposal, to assess the alignment and effectiveness of the collaboration. **Oversight** Performance will be periodically reviewed, with the possibility of re-evaluation or removal through governance processes if expectations are not met. **Addendum: Commitment to Transparency and Trust** I am currently anonymous citing personal security – [Reference](https://twitter.com/ercwl/status/1722371132026712143) In alignment with my dedication to the principles of transparency and trust, which are fundamental to the ethos of decentralized finance and the TrueFi community, I am fully prepared to disclose my identity (doxx) to the TrueFi DAO Foundation and other relevant stakeholders. This openness is a testament to my commitment to the role and the responsibilities it entails. ---
**Author:** ![rafaelcosman](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.truefi.io/rafaelcosman/32/4_2.png) [@rafaelcosman](https://forum.truefi.io/u/rafaelcosman)\ **Post date:** [November 11, 2023, 12:28pm UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/2 "2023-11-11T12:28:49Z")
Hi @ferengi, thank you for the post! I have heard good things about your work on other protocols, and specifically that you are quite knowledgeable about Defi and lending. As you mention in your post, part of the Board Member role is about steering TrueFi DAO towards its strategic goals. Given the difficulty that TrueFi has had in attracting capital during the bear market, what do you think TrueFi could do differently to attract significant capital in the next 6-12 months? Thanks and looking forward to hearing your thoughts. ---
**Author:** ![ferengi](https://avatars.discourse-cdn.com/v4/letter/f/9fc348/32.png) [@ferengi](https://forum.truefi.io/u/ferengi)\ **Post date:** [November 11, 2023, 2:49pm UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/3 "2023-11-11T14:49:23Z")
Thank you for your kind words. In light of the challenges TrueFi has faced during the bear market, particularly regarding capital attraction and retention, I believe the path forward hinges on the strategic direction chosen by the DAO. Given the downturn in unsecured lending post-FTX, significant opportunities exist in diversifying into liquidity portfolios and permissionless pools. Alongside pursuing institutional lending partners for capital, embracing a DeFi-native approach that intertwines reliable yield strategies and sources with clearly defined and transparent risk parameters will be key. This approach would not only appeal to any existing institutional base but also attract a broader retail audience. Furthermore, leveraging the long established TrueFi brand in our marketing efforts will be crucial. By effectively communicating the value and innovative aspects of any suite of new products, further driving capital inflow. ---
**Author:** ![rafaelcosman](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.truefi.io/rafaelcosman/32/4_2.png) [@rafaelcosman](https://forum.truefi.io/u/rafaelcosman)\ **Post date:** [November 11, 2023, 8:43pm UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/4 "2023-11-11T20:43:02Z")
Thank you for the thoughts @ferengi! ---
**Author:** ![michael.bland](https://avatars.discourse-cdn.com/v4/letter/m/76d3ee/32.png) [@michael.bland](https://forum.truefi.io/u/michael.bland)\ **Post date:** [November 13, 2023, 7:33pm UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/5 "2023-11-13T19:33:17Z")
Thanks for your submission @ferengi! While it will be up to the DAO to asses whether they’ll vote for a non-doxxed director, there are specific KYC/AML procedures for adding a new director to a BVI entity that will be required. If you succeed in winning a board seat, you can enter into an NDA with the Foundation in order to provide the required KYC/AML documentation, but you may remain pseudo-anonymous to the DAO. ---
**Author:** ![ferengi](https://avatars.discourse-cdn.com/v4/letter/f/9fc348/32.png) [@ferengi](https://forum.truefi.io/u/ferengi)\ **Post date:** [November 14, 2023, 4:22am UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/6 "2023-11-14T04:22:30Z")
Hello @michael.bland . I assumed as much and that is no issue on my end. In fact, I am doxxed to every project that I have worked with to date (internally) with the exception of enqAI. If there’s any more questions the DAO has for me, I’d happily answer them here, on Discord or an AMA. ---
**Author:** ![WallfacerLabs](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.truefi.io/wallfacerlabs/32/476_2.png) [@WallfacerLabs](https://forum.truefi.io/u/WallfacerLabs)\ **Post date:** [December 22, 2023, 1:26pm UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/7 "2023-12-22T13:26:59Z")
The vote for the Foundation board of directors is now live on Snapshot until January 4, 2024 [https://snapshot.org/#/truefi-dao.eth/proposal/0x4b7baa2b3874b8f31f093c94cbac8cabc258dd4994e5074b7280eb96726dfdd7](https://snapshot.org/#/truefi-dao.eth/proposal/0x4b7baa2b3874b8f31f093c94cbac8cabc258dd4994e5074b7280eb96726dfdd7) ---
**Author:** ![vandynathan](https://avatars.discourse-cdn.com/v4/letter/v/4af34b/32.png) [@vandynathan](https://forum.truefi.io/u/vandynathan)\ **Post date:** [January 29, 2025, 10:07pm UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/8 "2025-01-29T22:07:56Z")
---
**Author:** ![vandynathan](https://avatars.discourse-cdn.com/v4/letter/v/4af34b/32.png) [@vandynathan](https://forum.truefi.io/u/vandynathan)\ **Post date:** [January 29, 2025, 10:08pm UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/9 "2025-01-29T22:08:03Z")
---
**Author:** ![vandynathan](https://avatars.discourse-cdn.com/v4/letter/v/4af34b/32.png) [@vandynathan](https://forum.truefi.io/u/vandynathan)\ **Post date:** [January 29, 2025, 10:08pm UTC](https://forum.truefi.io/t/board-candidate-ferengis-platform-statement/1534/10 "2025-01-29T22:08:06Z")