🥧 Inside The Bakery 17: Community Call Debrief
Breaking down the the top topics from August's community call.
Welcome back to Inside the Bakery
Today’s newsletter will debrief you on the essential topics from last Friday’s (the 13th!) community call.
Treasury Farming Committee
“From pure growth to blended growth”
Treasury Farming Committee coordinator jnova gave the committee's first update since its start on July 6th.
Background: The Treasury Farming Committee(TFC) is an independent board of professionals. It determines methods of allocating and utilizing PieDAO treasury funds. The TFC's goals are to diversify assets, drive inflows, and enable the DAO to be self-sustaining.
Benchmark: The TFC set the following performance benchmark: ( 83% ETH earning 5.8% APY; 17% DAI earning 10% APY )
The numbers:
What’s next? Keep a look out for the first monthly report which will come out at the end of August. In the meantime, stay up to date on the #treasury-farming discord channel.
A closer look
Dough staking and governance mining
How do we encourage and compensate for active participation in DAO matters? Alex proposes a novel idea- "Governance mining" in other words pay for governance. The goal is to place higher value in an active and committed community.
The details:
Governance mining means revenues are shared with DOUGH stakers active in DAO governance. Staking participants will stake their DOUGH and receive a new token: veDOUGH
veDOUGH holders will receive cash flow via the “Reward Pie”. The Reward Pie can include DOUGH, PIEs, and other farmed tokens.
The value of long-term capital is higher than that of short-term capital. This means a longer period of capital commitment will have added incentives. These may include higher voting power and a bigger slice of the rewards.
One last thing: It's difficult to assess the impact the proposal will have on participants. We encourage everyone to explore different use cases in the scenario simulator here.
Roadmap
Steady, as she goes (kick-ass song by the way)
There were six deliverables planned for Q2, below you will find the status of each one.
Tl;dr: The core team focused on value add items: staking and growth partnerships. The biggest roadblocks to success? Resource constraints and bad product/market fit. How do we avoid these setbacks in the future? Establish independent working teams synchronized at the program level.
Next steps? Tasks currently in progress will continue to be worked on. The two on hold items will be subject to a community discussion on whether they are still priorities. Q3/Q4 2021 roadmap is currently being defined. Keep a lookout for a forum post at the end of August that will be open for community review.
Product Management
There’s a new sheriff in town…
Have you met Adrian? PieDAO's brand new product manager gave his first update since taking the job. The first priority? Streamline the areas of project and service management, as well as recruitment. The implemented changes will increase synergy and efficiency across the DAO.
What has been done?
Adopted JIRA for backlog’s management.
Do you need to report an issue? Submit a ticket here.
What's next? Quite a lot actually. From defining product goals, improving governance, and increasing transparency into the deliverables process. We have work to do and we need every member of this community to help. Open discussion is what will drive our success, make sure to voice your ideas on our discord server.
New Implementations
Turn off the oven and turn on... the stove?
There were a total of nine new implementations announced on Friday's call. Below are the highlights.
Background: The Oven v2 contracts did not perform as expected and have been retired.
Is the oven dead? Nope. The oven functionality will live on but the Oven v2 contracts are being re-written. You can find the new repo on Github with the name "Stove".
Is it live? The Stove contracts are not live on mainnet yet but we'll notify you once it's deployed.
Find a list of new implementations here.
Key Performance Indicators
Are you on DOUGH-pe?
It's interesting to see all the progress made over these last few months. The community has experienced consistent growth and the numbers prove it. Comparing August's DOUGH holder and TVL numbers with the baseline set in April we see that:
The DAO is becoming more decentralized. There are five hundred new DOUGH holders since April.
Everyone wants a slice of the PIEs. All PIEs except for YPIE have experienced TVL and holder growth.
The numbers:
6.77 M in rewards has been distributed through the DOUGHpamine program in its first four periods
With 510 holders and ~$3.5M TVL DEFI+L is the undisputed king of the PIEs
85.54% holder growth since April. Play token is our fastest growing PIE, will it soon become the most popular?
One last thing: The fifth period of the DOUGHpamine rewards program began this past Saturday.
Proposals
From the baking tray
What makes for a successful pie shop? The pastry chefs, and this community's bakers have stepped up over the last month. Join our forum and join the discussion.
Thanks for reading! 👏 Stay tuned for our next community call on September 10th.
Listen to the community call recording here.
Find the presentation slides here.