I have heard others say that we do actually have a ‘DAO’ but it is loosely defined. I think it is extremely important to have this conversation as a precursor to @Leighton’s 1,2 and three points above.
So, let’s get ultra-clear on what we have, what we need and how they ineract with eachother
WHAT WE HAVE
A protocol that is actively maintained by two parties:
a. PT Inc. b. The PoolTogether community
Any changes made to the protocol must first be approved by POOL token holders before it is implemented. Compensation for any changes to the protocol are either self-funded (PT Inc.) or funded from the PoolTogether protocol treasury, via bounties.
currently the only way that end users can deposit funds into the PoolTogether protocol
- The multi-delegator tool
An end-user application for one party to engage multiple end users
However, it does not make sense for 2 and 3 to be tools of the protocol. They are really the first set of applications built on top of the protocol.
- The POOL token- The only way to control the roadmap of the protocol.
The Pool token’s value is driven by how many applications (with their own revenue, customers and operations) use the protocol to deliver value to a different set of end-users. The more applications that use the protocol, the greater the significance over it’s roadmap.
THE POOL TOGETHER CHALLENGE
We aren’t investing our efforts encouraging a robust community of applications. Instead, we seem to be focusing our efforts making it more attractive for an end user to deposit.
While app.pooltogether.com and the multi-delegator tool are both essential for the current state of the protocol, they aren’t as important for the future state of the protocol that has lots of apps integrated. Additionally, app.pooltogether.com is made for end users while the multi-delegator are made for partner DAOs or NFTS (D2D instead of B2B).
In truth, both of these applications can and will be wildly successful. However, the success of either of these applications should have a limited impact on POOL price UNLESS we commit to paying a percentage of revenue generated from operating either of these applications back to POOL token holders, which we are not currently interested in doing.
At a minimum, we need to identify the conflicting objectives at play here:
App.pooltogether.com: maximize individual depositors
Multi-delegator: maximize deposits by DAO/NFT treasuries
Pool Token: maximize applications using the protocol
Prioritizing one of these objectives ultimately means de-prioritizing the others. So if we can’t align on one of these objectives, perhaps we should divide the DAO into groups with specific responsibility for each of these applications.
Another consideration is spinning off these tools into sub-daos with a clear mandate to maximize usage of the tools in a self-sustaining way (create a revenue model that pays for sales, marketing, operations, product improvements, even if the revenue model is turned off and they are funded by the protocol to start with).
PoolTogether is in the perfect position to make a big bet on growth. But PoolTogether is spoiled for choice. There are too many great opportunities to take advantage of. However, if we chase all of them, we will experience small wins, but we wont have the money, the human capital nor the operational bandwidth to succeed at the scale the PoolTogether protocol deserves.
BUT if we align around one big bet, and put the power of the PoolTogether community, the resources of the treasury and the reputation of the protocol towards it, there is no way we fail.
SO WHAT IS THE POOLTOGETHER DAO
I agree with @Leighton. The PoolTogether DAO needs to define what it is, what it wants to achieve, how it’s going to achieve success and who is going to help it do that. We need an open discussion to get there.
I have provided some thought starters and an analysis how I see it. I have done this without consulting anyone, but because I know PoolTogether is destined to be the DEFI leader that solves savings. @Leighton @Brendan and @chuckbergeron started something big. Its on us to help them realize their potential.
So, I ask you, WHAT IS THE POOLTOGETHER DAO?