This is a proposal to form a treasury DAO with 50K worth of SI (~$43,500 USD at time of writing) + 2 ETH for Gas Costs to handles rewards distribution for the course of 3 months (July, August, September 2021)
Since our mainnet launch in March 2021, SIREN protocol has continued to grow with our community. With over $10M TVL, we are growing and will continue to increase our value in the deFi ecosystem to build a democratized, decentralized options market.
There’s a large opportunity for the SIREN community to seize the crypto options market as early movers. To achieve this goal, we would like to move towards a collaborative DAO effort with the community.
The Aqua Minimal Viable Dao (MVD) is a step in the direction of decentralizing the protocol efforts. It will encourage more SIREN governance and co-creation by the community members. As the name suggests, we will be using this DAO as an opportunity to test what works in our community and improve on that.
The three areas of development for the MVD are:
- Content Creation
- Developer Tooling and Building.
- Community Contribution (answering on question, participation in discussions) in our Twitter, Telegram and Discord groups
DAO Contribution Examples
Initial examples (but not limited to):
Content and Marketing
- Graphic or Video Creative work for the project to represent the brand in a meaningful yet playful way. This is crucial and a lot of efforts will be focused here.
- In-depth articles regarding the value of options in the DeFi world and their implications. Topics could include The value of DeFi options, understanding the greeks
- In depth articles regarding the SIREN protocol. How to use various trading strategies to leverage and hedge in market conditions
- Youtube videos on how to use the product or how the protocol works.
- We love sea memes. The more the merrier.
- We want to empower the active SIREN merfolks who are discussing the product, culture and community.
- We will create different merfolk classes within our Telegram, Discord and Twitter so community contributors can feel more a part of the deep sea ecosystem.
Developer Products and Integrations
- A Solidity example which showcases the usage of SIREN protocol as a financial lego block using our settlement layer or AMM layer. I.e. building a portfolio that protects against ETH price drops.
- Collaboration on developer documentation
- Integrating Siren with an existing DeFi analytics site, such as Dune Analytics or Token Terminal
- Allocate 50K worth of SI (~$43,500 USD at time of writing) + 2 ETH for Gas Costs for the course of 3 months (July, August, September 2021)
- This will be held at separate community treasury wallet composed of a few team members + core community members outside of the project. More info to be published.
- Will initially be exclusive to Discourse SIP proposals and then the actual changes are enacted by the Gnosis Safe multisig owned by the Siren Protocol Team at the end of each month.
- During/After the trial period, it will move towards Snapshot voting through a platform like Boardroom where other projects such as Compound, Uniswap, Bankless DAO and Index Coop do voting.
Community and Communications
- Monthly Aqua Calls with the Community contributors
- Regular broadcasting of the proposals and contribution efforts
DAO Contribution Steps
In order to contribute to the Aqua DAO, it is a five step process
- Submit initial proposal to the Discourse in the Aqua DAO Category and post in our Discord Channel for review
- Discussion on proposal eligibility on the Gov Discourse for every case
- Implementation of the Proposal with estimated timeline
- Review by team and community members
- Payment to be sent out at the end of each month through the DAO funds.
What does ‘success’ look like?
This DAO will be seeded with some initial funds, which will be used to fund the development of marketing content and documentation by the community. If Aqua is successful, we will see several high quality contributions by members of the community, regular community communication and more decentralized community work for the protocol.
We are really excited to open the flood gates to the AQUA DAO and look forward to your feedback ♀
- FOR: Initiate Aqua MVD Activities
- AGAINST: Do not create Aqua MVD Activities