[Temperature Check] – Leagues M3 Structure, Goals & Budget

Revised Leagues Structure and Workflow

Leagues Contributor Brackets & Work Ethic Code

HR is a super complex process, let alone doing it in the “open”. Circumstances and personal situations are harder to reflect on in a context of a diverse DAO. As such, it’s likely easiest to have approximate brackets - and then allow some ad-hoc stuff on the margins by allowing for some small degree of subjectivity given a contributor’s background. This can, later on, be decided by an actual HR League as Idle DAO grows. For now, the brackets reflect general market demand & complexity for each role (while being an oversimplification, of course) and make it more transparent between the DAO members and contributors on who gets what.

Transparent work process & reporting

The Leagues contributors will commit to mandate reports. The reports will be shared and completed by contributors on a monthly or bi-monthly (in case activity is lower) basis and will be on a Notion public page.

Accountability: self-reporting and max hourly compensations

It should be noted that one can’t practically self-report a 100 hour week (despite devs doing that and beyond) simply because the discussions on “why X task took you so much time” would become very problematic as the DAO scales. It would be too subjective. As such, the maximum of a salary as per the above screenshot - is really the maximum unless there are some extraordinary circumstances.

At the end of the month, every contributor can quote how much they have been busy with certain tasks. Most of the roles have concrete activities so it would be fairly easy to understand how much time one or the other task could have taken. But just to be sure, a few Discord messages and a couple of tweets can’t justify even a 25% capacity. Common sense should be exercised.

Keeping full flexibility for everyone involved

The above rewards match similar roles outside of the crypto world, whereas here there is also extra IDLE. These IDLE rewards will be vested to create an extra incentive for a contributor to work more and stay aligned with the success of the protocol. Contributors are not required to be online 24/7 and can pursue their other hobbies or projects. As such, there is no need for hard control of KPIs and such - which is practically impossible in the context of a DAO anyway. While those would be great to do, for non-dev roles it’s extremely subjective and unclear. Dev capacity in most cases is expected to be at 100% minus the normal days off or force majeure sickness/partying.

For example, lack of motivation or lack of available work from a contributor will make it seamless for them to rotate out and not feel stressed. Meanwhile, strong motivation will result in full USDC compensation and extra IDLE tokens vested for the same $ value as the work dedicated to Idle DAO and Leagues that given month.

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Leagues M3 Structure, Goals & Budget

M3 Leagues formation: the Contributors League

While Leagues have been evolving a LOT during the last 1.5 years, expanding and shrinking depending on the needs/phase of the DAO and its product suite, we are adopting a "do more with less" approach. The contributors and the treasury need to scale back to a number that can manage multiple subDAOs without high operational overhead. As such, the current group together with founding members become more on the operational side, whereas we will spin back off multiple subDAOs later on or help manage subDAOs that grow out in the future. That is for the next hiring wave.

These actions and the revised budget and cost restructure, as reported below, will be implemented in August to reduce Leagues expenses by -60% compared to M2 budget.

Hence, we are moving to a more simple, compact, and lean team structure, with a unique subDAO, the Contributors League, which handles:

• Development (smart contract & front end): 2 FT, 1 PT
• Design: 1 FT
• Marketing: 1 PT
• Coordination & Ops: 1 FT
• Partnerships/BD: 2 FT
• Grants: 1 PT

Concrete packages and contributors for Leagues M3

The following table is self-explanatory. The last two columns refer to the approximate monthly dedication of each contributor (due to what their role entails) in normal circumstances. That helps estimate the approximate budget for contributor compensations in USD.

Counting July as M2 rewards, and August/September with the revised M3 rewards, we get to a required budget of $36k in stables or eq, and 88k IDLE.

Leagues M3 Quarterly Goals

The following initiatives is what the Contributors League will focus on and aim to ship during M3-2022:

Renovate dashboard

Simpler, faster, and more intuitive dashboard, reducing maintenance and overhead costs. This will allow product suite users to enjoy using BY or PYTs daily and solve hiccups like loading time and data consistency. It is already under development with Dev and Design contributors, currently at the end of the wireframing phase as the following pics show.

Information Architecture Development:

New Dashboard Wireframes:

Prepare BY/PYTs next iteration

Simplify the product offering. Continue iterating, testing, and experimenting with the new PYTs design (like the Adaptive Yield Split), taking new yield sources into production (DeFi uncollateralized loans or decentralized options strategies), and ultimately implementing into the current BY a wider yield spectrum with PYTs Seniors (which will maintain BY’s high-security standard).

New Best Yield Architecture:

Other yield sources for PYTs like uncollateralized lending protocols, Decentralized Option Vaults, and more AMMs will be taken into consideration as new PYTs yield sources.

In general, this means an higher APY for Best Yield, and even more boosted APYs for Junior PYTs.

Keep up building B2B partnerships Keep focusing on automation and support for integrators, both downstream and upstream. Build better tools, documentation, and tracking. Restore and grow TVL from there.

We have 4 product verticals for BY and PYTs:

• New yield sources (eg Morpho, TrueFi)
• New liquidity providers (DAOs, institutional funds)
• New coverage features (de-pegging risk for stablecoins)
• New products evolutions (pooled/aggregated Senior/Junior PYTs - if we see demand)

The programs that the partnerships/BD contributors can use are:

• Lido D2D: discover partners to reach $50M-100M-150M TVL thresholds as per D2D collab
• Polygon B2B: discover partners that can deposit >$100m TVL with MATIC rewards for 20% APY boost

With the BD contributors we will continue to build up TVL growth with these verticals and programs.

Update tokenomics and improve Gauges

Onboarding new partners for Gauges and keep kickstarting the Gauges flywheel, as already started with Angle DAO. Additionally, we will release a revised version of the tokenomics, specifically with an adjustment of the IDLE liquidity mining and Gauges distribution, with a substantial reduction of the overall emissions of IDLE tokens.

Maintain our high-security standards

Of course, continue building a resilient product suite to provide the most attractive risk-adjusted yields in the market. A DeFi protocol operating since 2019 without any hack/loss is a unique phenomenon. And we will keep maintaining it via monitoring, peer reviews, audits, risk framework, testing, and simulations. One of the main initiatives here will be to formalize and structure an improved PYTs Default Management Procedure.

Grow brand and community of users

Focus on Twitter communications with targeted research efforts to explore new channels and marketing campaigns. Continue with B2B content series (like the Treasury Mgmt article, or B2B Partners Twitter Spaces). And grow a community of users that enjoy using PYTs and BY, builders that strive to research and build new strategies and tools for integrators, and governance participants that want to help improve the overall DAO workflow.