Financial Proposal - Eagle Ops

Agree with Renee that some more insight would be great! Getting Henry to dive deeper into Syndicate would be worth it. Copying @mroldann since we spoke last week that Syndicate specifically is tricky to gain insight into as the contracts are not open source. A few specific comments:

  • Adding 12k+ wallets in two weeks in July is an outlier worth looking into. Yes, it is around the time Syndicate launched on Polygon, but this looks a whole lot like airdrop hunting
  • Classifying a DAO as “active” if the only activity is the DAO being deployed might be worth refining
  • Cumulative active DAOs as a metric does not make sense since “active is defined by a time frame”
  • Maybe we can add some activity metrics - the industry standard (TVL) as well as the number of transactions
2 Likes

Thanks @fartunov!

I love it that more and more people are excited about the insights we are creating. This is just the start :slight_smile:

We have indeed been working closely with @mroldann and he has been really really helpful!

I wanted to add some comments to the points you made below:

  1. It seems to me that the fact that Syndicate advertised a legal wrapper to their “investment clubs” was the cause of the the biggest spikes (and lots of publicity). Their definition of what an “investment club” is or is not, their definition of custodial vs. non-custodial and how they deal with an entity’s funds are all peculiar. We are looking to write an article and shed some light into all of this next season. If you would like to help we would love your contribution!

  2. The dashboard linked in v1… more like a beta version as we just managed to get everything hooked up (including the use of just released features) to make it work. We are working on a new version for season 3 which will delve deeper exactly at the points you mentioned, and maybe more too.
    2.1) For example, our current definition of activity was a compromise to get us a number. Today it is an activity (inflow or outflow) of the registered wallet of the organism within the timeframe (1 week or a quarter). We are looking to dive deeper into this metric to better understand DAO creation and activity.
    2.2) We have just today been able to get a better list of token values so that we can get closer to TVL – it has not been easy and i do not want to over promise, but we are working towards this number too.
    2.3) we have just today flagged the cumulative active metric as incorrect and we are going to update the dashboard in the coming days to reflect a more meaningful and useful number.

Having said all that. If you would like to offer more support and ideas, share what else you would like to see, lets get in touch :slight_smile:

Best regards
Fabs

2 Likes

Thanks for sharing this dashboard Fabs! This is brilliant. I understand how difficult this must have been so kudos to Henry as well and Martin! @fartunov brings up brilliant points about the Syndicate statistics, there’s obviously something off there not because of a mistake but simply because of the parameters. I won’t pretend I know how to fix that! But this still overall is really helpful to look at. Thanks!

2 Likes

Hi all! Thanks @fartunov for pinging.

As @Fabs mentions, we need a general disclaimer regarding data accuracy as it is still work in progress. Mind that this kind of dashboards have only been possible since early November 2022 with Dune V2 faster and multi chain queries (thanks to SQL Spark vs. Postgre in V1), Dune V2 adding Polygon data and, specially, Dune spells (user defined data abstractions) that Henry created to make queries even faster.

Regarding Syndicate, clubs creation data seems to be correct as the dashboard shows they had 20k clubs at the same time they announced this milestone on Twitter.

As for the outlier, it seems they have been attacked by airdrop farmers when they launched in Polygon as @fartunov mentions.

image

As a side comment, Syndicate Clubs seem to be quite different to other forms of organization. For example, Club tokens are non-transferrable ERC-20s, members cannot be more than 99 and if the Club is created by an EOA the funds of the fundrising goes to it. Finally, their contracts are’t verified to getting sense of what happens within them is harder.

As a conclusion, this is a good start but we need more time to continue curating the data, discuss whether to include Syndicate and/or other DAO frameworks and add data related to TVLs and membership.

2 Likes

Thanks Martin, this is brilliant. You all have a tough job! Obviously it goes without saying I look forward to the day we have a dataset that is aligned on an industry basis with who our target market is and who the other orgs are that offer a similar value prop.

2 Likes

S3 budget update for Eagle Ops

Since Eagle Ops is the first experiment of clustering multiple Squads into a guild, there are some lessons learned that we would like to share:

  • A guild should revising its budget in a timely manner, in order to provide transparency to stakeholders (short reasoning why a budget should remain the same or should be adjusted, should be enough)
  • We have learned that squads should start with the bare minimum of contributors for the work, as it is easier to expand than to reduce.
  • Having fewer contributors in a team will have (in general) a positive influence on accountability and performance

Based on the aforementioned learnings, the guild revised S2 internally and would like to propose a significant budget reduction of 49% (from $53.5k to $27.5k per month) for S3, according the following changes:

Ops Squad: As the focus shifts from facilitating day-to-day operations towards facilitating the DAO transition, we would like to reduce the budget significantly with 79% (from $12k to $2.5k per month)

Finance Squad: As the Squad managed to stay below 50% of the budget in S2 and it is not planning to expand in S3, we would like to reduce the S3 budget with 57% (from $18.5k to $8k per month)

Data Squad: As the product is not expected to launch in S3, we would like to reduce the budget with 30% (from $14.35k to 10k per month), and let the squad focus explicitly on the good work of the data dashboard.

Legal Squad: Based on S2’s experience, we are able to legal squad is able to reduce the budget with 36% (from $11k to $7k per month)

The guild is expected to only require $5k of funding in S3, as the Eagle Ops’s multisig still has $78k left from the S2 due to proper budget management (remaining funds of S3 will be transferred back to the Aragon treasury).

S3 Proposed KPIs for Eagle Ops

The KPI’s for S3 per squad are outline below:

Finance*

Recurring Deliverables (Rick):

  • 100% timeliness to compile AN DAO payments: prepare, sign and execute routine financial transactions within 10 days after voting is done
  • 100% timeliness to compile core contributor payments: prepare, sign and execute routine financial transactions by the last Thursday of every month
  • 100% timeliness to compile creator payments (bounties): prepare, sign and execute on a weekly basis
  • 100% timeliness of monthly income/expense report & contributor rewards report posted on the forum before the 5th of next month

Concrete Deliverables (Rick):

  • Compose a Finance Operating Model that functions as a best practice for the new DAO
  • Providing an updated DEX liquidity position for Aragon
  • Build a budget expense overview for new the DAO
  • Build a proposal tracker that provides a real time overview for delegates on the already approved funding & funding pending in vote
  • Having a working on-chain and off-chain accounting solution in place for the new DAO
  • Provide an end of the season financial transparency report

Additional deliverables (Rick):

As learned from S2, Finance Squad should be flexible in additional deliverables. During the last season, approx. 10 additional deliverables required attention from the Finance Squad.

*Finance squad does not provide financial or investment advice in any jurisdiction. Finance squad has not provided such advice in the past, it does not intend to provide such advice in the future. It only provides operational support for financial aspects.

Ops Squad

Recurring Deliverables (Rick):

  • Navigating the transition from AN DAO towards the new Aragon DAO by being the point of contact for the current guilds
  • Updating guilds on the relevant DAO transitioning
  • Maintaining the DeWork board for AN DAO, responsible for organising & updating the board and being the point of contact for questions regarding the tool
  • Facilitating the daily operations within the current AN DAO, in terms of tooling and bots
  • Meta-governance point of contact for Balancer (based on the Wildfire proposal)

Concrete deliverables (iFun):

There are no concrete deliverables defined at the start of S3. Learnings from S2 were that Ops Squad provides the most value in navigating and solving complications that pop-up during the Season.

Legal Squad**

Recurring Deliverables (Lion):

  • Amending Necessary Contributor Agreements in order to provide Forward Compatibility with DAO Transition
  • Assisting HR in reviewing and issuing letters for different purposes to contributors
  • Assisted in reviewing and Negotiating multiple Agreements with Aragon Vendors (AMMs, Exchanges, Smart Contact Auditors, External Advisors, Clients etc.)
  • Aragon Branding and Intellectual Asset Review and Strategy for DAO Transition
  • Assisting the Ops Guild in General Compliance Research and Implementation

Concrete Deliverables (Lion):

  • Risk Analysis of Publicly Available Documentation of Aragon
  • Review of Policy/Proposal Drafts prepared by Finance Squad
  • Legal Wrapper Research/Support and DAO Structuring
  • Data Management and Privacy Standards Implementation
  • Contract Management Software Implementation
  • Assisting with compliance and legal requirements of Ops wrapper

Additional deliverables (Lion):

As learned from S2, Legal Squad should be flexible in additional deliverables. During the last season, approx. 10 additional deliverables required attention of Legal Squad.

**Legal squad does not provide legal advice in any jurisdiction. Legal squad has not provided such advice in the past, it does not intend to provide such advice in the future. It only provides operational support for legal/regulatory aspects.

Data Squad

Concrete Deliverables:

  • Deliverable 1, Led by Fabs and supported by nocibambi End of Year Survey and Quarterly survey thereafter – understanding the satisfaction and needs of contributors to the new DAO
  • Deliverable 2, Led by Henrystats and Supported by Fabs Product Dashboard – continue development, refinement and update of the competitor dashboard and creation of data for articles:
    • Articles: Objective is to position Aragon as a Thought Leader on DAO creation. Therefore we will create articles to showcase:
      • Article 1 [WIP], Led by Fabs Supported by Henrystats: Delivery of Dashboard containing DAO creation vs. DAO Activity vs. Chain creation & activity. — currently being worked on with COMMS
      • Article 2 Led by Fabs Supported by Henrystats: Nuance of DAO Activity, limitations and opportunities
      • Article 3 Led by nocibambi and Supported by Henrystats: How does DAO creation look like on-chain in different ecosystems? What does this tell us about the technical aspects of DAOs under different platforms? What does this imply for the concept of “DAO”?
      • Article 4 Led by Fabs and Supported by Henrystats: The values of DAO activity, exploring what the data can show us for values of DAO activity across ecosystems and chains
      • Article 5 Led by nocibambi and Supported by Henrystats: Frequency of DAO activity: exploring how often DAOs execute transactions, trends, seasonalities, and special events.
      • Article 6 Led by Fabs and Supported by Henrystats: DAO Value, how valuable are transactions? Where are the most valuable active DAOs?n
      • Article 7 Led by Sammie: Product overview, feature comparisons, roadmap analysis on DAO platforms in current competitor analysis scope, i.e., Syndicate, Colony, DAO Haus, Zodiac vs. Aragon
  • Deliverable 3, Led by Fabs and supported by team, Data for other Squads – supporting other guilds and squads with their reporting and data needs.
  • Deliverable 4, led by Sammie, Payment data – combining Dework and Parcel data to gain deep insight into the expenses of Aragon.
4 Likes

This is a super clear revised S3 proposal Rick & co. Nice work

2 Likes

Eagle Ops Month 5 - December 2022

Finance squad

Recurring deliverables:

  • 100% timeliness to compile AN DAO payments: prepare, sign and execute routine financial transactions within 10 days after voting is done - Completed (recurring)

  • 100% timeliness to compile core contributor payments: prepare, sign and execute routine financial transactions by the 15th of the month - Completed (recurring)

  • 100% timeliness to compile creator payments (bounties): prepare, sign and execute on a weekly basis - Completed (recurring)

  • 100% timeliness of monthly income/expense report & contributor rewards report posted on the forum before the 5th of next month - Completed (recurring)

Concrete deliverables:

  • Compose a Finance Operating Model that functions as a best practice for the new DAO - Completed
  • Provide an end of the season financial transparency report - Completed
  • Providing an updated DEX liquidity position for Aragon - in progress (50%)

Additional deliverables

  • Explore multiple Bitcoin multisig opportunities - in progress (50%)

DAO squad

Recurring deliverables:

  • Navigating the transition from AN DAO towards the new Aragon DAO by being the point of contact for the current guilds - (Completed)
  • Maintaining the DeWork board for AN DAO, responsible for organising & updating the board and being the point of contact for questions regarding the tool - (Completed)
  • Facilitating the daily operations within the current AN DAO, in terms of tooling and bots - (Completed)
  • Meta-governance point of contact for Balancer (based on the Wildfire proposal) - (Completed)

Additional Deliverables:

  • AN DAO S3 budget revisions - Completed

Data squad

Concrete deliverables:

  • Deliverable 1: 25% complete. Delivered an updated and complete questionnaire for DAO contributors as well as AA associates to evaluate satisfaction with their experience in the association and community and how to improve this in the future. Scheduled to release survey on Dec 21st

  • Deliverable 2: 25% Done. Continued work on the dashboard with the aim to understand value in DAO wallets. Specifically we want to know how much value is in every DAO’s wallet within different ecosystems so that we can approach a proxy for TLV. To get close to this we also needed to work on a dex.prices spell that will allow us have a usd value for most of the tokens on the dao.transactions table across multiple blockchains. Continued work on analysing more accurate data for syndicate and also an accurate syndicate investment club balance.

  • Deliverable 3: Continued support for Community experience and dTech for their data needs.

  • Additional deliverables: work has started on a Delegate dashboard with information and insights.

Legal sqaud

Concrete deliverables:

  • Amended Necessary Contributor Agreements in order to provide Forward Compatibility with DAO Transition (Recurring)
  • Assisting HR in reviewing and issuing letters for different purposes to contributors (Recurring)
  • Assisted in reviewing and Negotiating multiple Agreements with Aragon Vendors (AMMs, Exchanges, Smart Contact Auditors, External Advisors, Clients etc.) (Recurring)
  • Review of Policy Drafts prepared by Finance Squad (Recurring)
  • Aragon Trademarks and Intellectual Assets Transfer Research and Strategy for DAO Transition (Recurring)
  • Risk Analysis of Publicly Available Documentation of Aragon - In Progress (50%)
  • Legal Wrapper Research/Support and DAO Structuring - In Progress (65%)
    • Research on Legal Structure of Leading Protocols/Projects in the Web 3.0 Ecosystem - In Progress
    • Assisted in drafting the necessary documents and clauses for the Legal Wrapper Proposal - In Progress
    • Providing Real time strategic and coordination support to the Ops Team for DAO Transition - In Progress
  • Data Management and Privacy Standards Implementation - In Progress (75%)
    • Storage Solution and Data Handling Solution for Data Squad - Complete
    • Draft Disclaimers for Surveys - Complete
    • Review Internal Data Policies - In Progress

Additional Deliverables

  • Private Transactions, OFAC and US Sanctions Research and Strategy - In Progress (80%)

Funding information

Find more details in spreadsheet

Outgoing $ 19,000
USDC 90% total $ 17,100
ANT 10% total $ 1,900
Core contributor rewards $ 19,000
Bounties $ 0
Expenses $ 0
Remaining S3 budget $ 57,076
2 Likes

Hey Folks, due to my prior commitments, I will not be able to assist @AClay and the Ops team during Season 2. All the pending deliverables have been handed over to the concerned members of the team.

While most deliverables listed in the proposal were written keeping in mind Aragon Network DAO, it is fascinating to note how far the Aragon Project has come as it’s gearing up for its next phase with a new DAO altogether, Aragon DAO. Unfortunately, I won’t be around to participate in or assist the new DAO. However, I know the Ops team will continue to flourish.

All the best!

5 Likes

Eagle Ops Month 6 - January 2023

Finance squad

Recurring deliverables :

  • 100% timeliness to compile AN DAO payments: prepare, sign and execute routine financial transactions within 10 days after voting is done - Completed (recurring)

  • 100% timeliness to compile core contributor payments: prepare, sign and execute routine financial transactions by the 15th of the month - Completed (recurring)

  • 100% timeliness to compile creator payments (bounties): prepare, sign and execute on a weekly basis - Completed (recurring)

  • 100% timeliness of monthly income/expense report & contributor rewards report posted on the forum before the 5th of next month - Completed (recurring)

Concrete deliverables:

  • Build a budget expense overview for Eagle Ops Wrapper & Aragon DAO - Completed
  • Build a proposal tracker that provides a real time overview for delegates on the already approved funding & funding pending in vote - Completed

Additional Deliverables

  • Compose an Aragon DAO - Finance Squad documentation page (20%)
  • Compose a Yield Vault proposal (30%)
  • Assist with the financial set-up of Aragon DAO (50%)
  • Assists on the Aragon DAO budget proposals - Completed

Ops squad

Recurring deliverables :

  • Navigating the transition from AN DAO towards the new Aragon DAO by being the point of contact for the current guilds - (Completed)
  • Maintaining the DeWork board for AN DAO, responsible for organising & updating the board and being the point of contact for questions regarding the tool - (Completed)
  • Facilitating the daily operations within the current AN DAO, in terms of tooling and bots - (Completed)
  • Meta-governance point of contact for Balancer (based on the Wildfire proposal) - (Completed - last time)

Additional Deliverables

  • Terminated the meta-governance relationship with Wildfire (based on the Wildfire proposal) - (Completed)

Data squad

  • Deliverable 1: 100% complete. End of Season Survey. During the very end of December and January we delivered a survey and created a comprehensive report to the satisfaction and perceptions of contributors of Aragon. Report can be found here:
    End of Year Report 2022.pdf

  • Deliverable 2: 50% completed. Submitted spells to track Syndicate data as well as develop the means to look into how much funds exist within DAO’s wallets so that we can create a proxy to Total DAO value for each protocol in each chain.

  • Deliverable 3: 25% completed. Delegation and Wrapping of ANT dashboard. During the past month we have learned how the processes of Wrapping and Delegation are going to work and we started to develop the means to track and report this information. We have developed a mock deliverable and now that the apps are being tested we are putting together a data plan for checking how we can created test data that simulates real work in order to deliver the dashboard by the end of February.

Legal sqaud

Funding information

Find more details in spreadsheet

Outgoing $ 19,000
USDC 90% total $ 17,100
ANT 10% total $ 1,900
Core contributor rewards $ 19,000
Bounties $ 0
Expenses $ 0
Remaining S3 budget $ 38,076
1 Like