Vote 25: Groda Product Pod Extension Proposal

Summary

This proposal is for Gro DAO to enable the Groda Product Pod to continue operating (either with existing or additional funding), with three options to vote from:

1. Extend Groda Pod’s existing term for 1 more month (using existing remaining budget)
2. Fund Groda Pod for another 6-month term
3. Reject all options

Having been open for comments for 3 days on the Community Discourse Forum, the proposal will now be open for voting for 5 days.

Groda Pod Product Direction

As detailed in the previous temperature check, the Groda Pod has successfully launched G2 and decentralised its core services, among other achievements. However, the Groda Pod has not yet decided on the next major product to develop. Despite researching various topics such as On-chain Pawn-Shop, Community-led Asset Management, Wallet Analytics, Tokenised RWAs, and more; the pod has not yet gained strong conviction on these ideas.

The Groda Pod aims to carefully choose the most appropriate path forward, in alignment with Gro DAO’s values of creating high-impact products for its users. To facilitate this decision, the Groda Pod will establish a dedicated process for identifying Web3 trends, evaluating conviction within the pod, and assessing market demand and user desirability.

Currently, the Groda Pod’s most promising ideas for its next product include a Smart Contract Wallet SDK based on ERC-4337 (Account Abstraction) and a decentralised stablecoin backed by staked ETH as collateral with algorithmic market operations. However, the Groda Pod wants to conduct further research and validation before committing to these or other ideas.

Given that the next product idea is still undecided, the DAO can choose between three options:

Proposal Voting Options

1. Extend current mandate: 1 Month

By approving a 1-month extension of Groda Pod’s current term, Gro DAO will enable the Groda Pod to allocate the existing budget surplus towards funding an additional month of operations. This extension will provide the necessary time for the Groda Pod to continue its product discovery efforts, with the aim of gaining more market validation and conviction. At the end of the 1-month period, the Groda Pod will present a refined proposal for a 6-month term renewal, based on the comprehensive research conducted during the extension period.

During this 1-month extension, the Groda Pod will focus on the following activities:

• Conduct in-depth product discovery to identify and propose the next high-impact product idea for the Groda Pod to concentrate on, in alignment with Gro DAO’s objectives
• Implement the Governor Bravo framework to enhance the decentralisation of core protocol functionalities, further empowering the community to make collective decisions
• Maintain and ensure the safety, security, and accuracy of the G2 platform, upholding its reliability for users
• Concentrate on achieving the current set of Groda Pod’s Objectives and Key Results (OKRs) to maximise the impact and value of the pod’s initiatives
• Deploy G2 on an additional chain and further modularise key components to create a tranching “DeFi Lego Block”

Budget:

Groda Pod has a projected budget surplus of ~200k USDC from its current term (September 2022 - March 2023). If the DAO approves a 1-month extension, the Groda Pod will use 63,667 USDC for its monthly contributor compensation, and the rest of the budget will be reconciled and returned to the DAO treasury at the end of the month.

2. New Mandate: 6 Months

With the Gro DAO’s funding support, the Groda Pod will be able to:

• Explore and validate current product ideas, including but not limited to: Smart Contract Wallet SDK (ERC-4337 / Account Abstraction); Decentralised Stablecoin (staked ETH with Algorithmic Market Operations)
• Launch the OnRamp Comparator publicly, incorporating user feedback and utilising quantitative data to drive iterative improvements
• Implement the Governor Bravo framework to further decentralise core protocol functionalities, allowing GRO token holders to participate in collective on-chain decision-making processes
• Ensure the ongoing safety, security, and accuracy of the G2 platform for a reliable user experience
• Concentrate on achieving an updated set of Groda Pod’s Objectives and Key Results (OKRs) to maximise the impact and value of the pod’s initiatives
• Deploy G2 on an additional chain and further modularise key components to create a tranching “DeFi Lego Block”

Budget:

For the next 6 months, Groda Pod proposes a budget of 382,000 USDC that will be transferred to the Groda Pod’s operational wallet if approved.

For checks and balances, the operational wallet is a 3-out-of-5 multi-sig with 2 full-time contributors in the Groda Pod and 3 contributors from other Pods (with two from the People Pod).

• 6 full-time contributors’ compensation: 350,000 USDC over 6 months
• Service provider and operating expenses (e.g., Infura, Alchemy, Gelato and other fees and expenses): 32,000 USDC over 6 months

Groda Pod will have a projected budget surplus of approximately 200k USDC from its current term (September 2022 - March 2023) which will be reconciled and returned to the DAO treasury. In case of approval of the extension for the 2nd term, the Groda Pod will be requesting a total amount of 382,000 USDC from the Gro Dao Treasury to the Groda Pod's operational wallet.

3. Reject proposal

In the event that the aforementioned options (1-month extension or 6-month renewal) are not approved, the Groda Pod will carefully review the proposal and engage in a thorough dialogue with the community to incorporate any further feedback received. This collaborative approach will enable us to refine the proposal and ultimately identify the most suitable solution that aligns with the community’s interests and expectations.

Voting

This vote will run for 5 days and will follow the ranked-choice voting (instant runoff voting) format as there are 3 viable options to choose from.

Accordingly, users can rank their choices in order of preference. If no option receives a majority share of votes (over 50%), the option with the least amount of votes will be eliminated, and those who voted for this option will have their second choice recorded instead.

You can read more about ranked-choice voting here.

Composition of the Pod

Following the Gro DAO collaboration framework, the Groda Pod will include contributors who participate in engineering, product design, and product management. The pod may also expand to those who contribute on a part-time or bounty basis (i.e. through the new OG Programme).

6 (full-time) contributors would form the Groda Pod:

• Jimemart (frontend)
• SHAKOTN (backend & smart contract)
• Kat (smart contract)
• Wint3rmute (backend)
• Haywired (design)
• SAS (product & pod facilitator)

Improved goal-setting and coordination

The Groda Pod has recognised the need to improve its focus on delivering high-value results and executing them faster. To address this, the pod has implemented dedicated Objectives and Key Results (OKRs) and is using the Coordinape platform to enhance accountability, establish short feedback loops, and recognise skills and behaviours that drive impactful outcomes.

The Groda Pod is eager to receive feedback and encourages active participation from the community in shaping the future of its endeavours, ultimately fostering a collaborative environment that drives the success of Gro DAO’s mission.