Polygon Ecosystem DAO - our ideas and benefits of community involvement

[calvindefi]

Excited about this - Impossible.finance would love to help gather some more project teams to come over and join us in helping building up these ecosystem partners of support

[PolyMringz]

Hey @hamzahKhan This is an amazing post and I am glad that your team has made the first steps to setting up a DAO to help scale the polygon network sustainably. I will chime in with some advice with my experience from Index Coop which was once in a similar position to where this DAO is now and has grown and scaled successfully over the last few months.

@hamzahKhan

• Committee 1
  A Polygon native projects committee (of 3/5) that helps operationalise smaller grants of <$100k with a forum discussion and follow up call if necessary.
• Committee 2
  Polygon blue-chips like QuickSwap, Sushi, AAVE and infrastructure providers like ChainLink and theGraph to help formalise the process via forum discussion and a snapshot signalling vote from the community.
• Committee 3
  Onboarding web3 developers and building tooling to support Polygon with ChainLink, TheGraph, UMA, Covalent etc.

The idea of having working groups is super important as it empowers contributors to perform and execute strategy or operations on-behalf of the DAO. The most important thing when setting up these working groups is making sure there is a clear and well-communicated mandate that is aligned to the purpose od the DAO. Having this is vital as it enables the DAO to fulfill it’s purpose and scale successfully and sustainably. Communication and transparency is also key as it helps keep the committees remain accountable and builds trust between the committee and greater community.

My thoughts on the initial working groups:

I have no issue with the first 3 committee’s however my first question is around governance? What is the governance structure? What is the governance process? These are important questions as it is the first step in ensuring that the community is empowered to participate in core decision-making in the DAO.

@Yalor

we have formed a micro DAO exploring exactly these types of new governance models. We would love to find out how to engage with this initiative and commit some of our brain power to helping you guys create the best possible outcomes for the community.

A presentation from @Yalor’s team would be a great start in deciding the way forward. Educate the community before providing governance options.

Secondly, I think more transparency as to the specifics of how the DAO will be funded. Who has the power to deploy funds to working groups? Where are these funds kept? How are they managed? These are vital questions as it builds trust in the community, reduces the risks around mismanagement of funds and increases the probability of success of the DAO as funds are managed more responsibly.

I have contacts with members of the llama treasury management community that can inform the community on the best practises and present options for setting up a sustainable treasury management operation.

The last suggestion would be setting up a weekly community call to communicate important information regarding the DAO to the community and stakeholders and social channels where community members can communicate and collaborate outside of the forum. I recommend discord for this.

[Vachmara]

I love your idea to build a native chrome plug in Wallet! UI is important but in the same time we also need to improve UX, find solution to minimize number of actions needed to interact with the blockchain. Also, another hard point is that the large majority of internet users used today their phone. We could build instead of a native chrome plugin, an IOS, Android app that used facial recognition (similar to bank account access) to interact faster and easier with network (try to imagine to sign a transaction / action just with your facial recognition!). My point is that when we will get mass adaption (and one day or another we will), users will want to use their phone to interact into the Web 3.0.

[Alluminati]

This is an amazing project and I’m very excited to be a part of it. I believe that Polygon can and should leverage the talent, culture and community of the Caribbean and its 40 million people in a way that most other platforms overlook.

While seemingly small the Caribbean is very influential in Western culture from Music to movies to general pop culture.

My team is building a strong community within the region for crypto and would love to work with Polygon to bring wider adoption to a region that would benefit tremendously from it, and in so doing champion it’s growth globally.