Truefi Next Steps Topic

General
8

With respect to @vandynathan’s response & @adapt3r’s post: TrueFi Next Steps (Manager’s POV)

  1. We agree a more public analysis of the DAO Treasury is an important next step, but this will clearly take time to (1) form a budget and (2) conclude a competitive bidding process.

Conversations on $ amounts with respect to the proposed contract are highly skewed by market dynamics. It’s anyone’s guess where the token will go, but it’s not in the best interests of the DAO to push downside convexity to a service provider’s PnL.

Rather, a more sustainable top-down budget of TRU tokens to service providers (1) matches DAO assets to their underlying liabilities (OpEx) while (2) providing upside/performance-based incentives for service providers who participate in adding value to the token they’re paid in.

Further, we feel the short-term nature of such contracts should be addressed in light of this issue and because service providers should be incentivized for long-term thinking, to align initiatives to long-term results and not reactionary and aimless trend-following.

  1. We have a number of ongoing initiatives that we are excited to bring to TrueFi, but the lack of an experienced service provider that can give us quick and cogent answers puts these initiatives at risk of being trapped in DAO limbo.

  2. While the Foundation Board formalizes the token budget and competitive bidding process, and we proceed with our key initiatives, we propose a next step of putting a yes/no vote in place on Wallfacer’s contract extension for three months.

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