Harmony Validator DAO: Introduction & Funding Request

Governance DAO Proposals
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Dear Harmonauts & Validators,

We address you today to share some exciting news and developments within the Validator DAO.

1. The outcome of the election

77 Validators took part in the voting over a period of one week. Voters could choose between 12 candidates, voting for up to 9 candidates. Results can be seen below or at Snapshot

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2. Elected Governors for Term 3 & their roles

The elected governors for Term 3 (January 17th, 2022 until April 18th, 2022) are:

3. Overview of the DAO’s mandates & Deliverables for Q1 2022

The Harmony Validator DAO is tasked with the goals of representing, expanding and strengthening the Harmony Validator and Delegator community while supporting the Harmony Protocol and Network.

The Harmony Validator DAO Mandates

  • Decentralization: bootstrap thousands of elected validators, grow diverse validator profiles
  • Security: support high staking rate, promote security practices and tooling
  • Participation: facilitate protocol upgrade proposals, recruit votes for improvements

The Harmony Validator DAO Deliverables for Q1 2022

  • Get 200 Elected Validators with the start of the Bootstrap Initiative
  • Create promotional and how-to material in the form of a Landing Page, written guides, videos etc released during the Term
  • Launch Mentorship Program for Validators

4. Multisig Wallet & Payment structure

Harmony Validator DAO Treasury Address:

Harmony ONE Format:
one1zw4yd6xgx79af3z5d93tke5ntemrqdjd4qpjfl

ETH Format:
0x13aa46e8c8378bd4c4546962bb66935e7630364d
(You can navigate to multisig.Harmony.ONE and add the above address to view and follow along with all future funding/proposal spend.)

Owner of Multi-Sig:

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CoinChowder 0x9a68F96C8cC59AFF169bE5417dE84930439873FD
HankTheCrank 0x65B69Da3D9Aa99cb81ECF908FB25656856c957A6
HoundOne 0xAcF55BeC11D38A1a13dAa13668032CaA2ca59c2D
BrotherOne 0xb8E0aBb5Ae527137237567ddD167c338E541429e
Maffaz.one 0x08c4596B157EafAE5EC4E0fE629005Bab2a10C3D
PeaceLoveHarmony 0x53d2ae319920Cf1Ea1Ef754e91150d6C356a815d
Stakeridoo 0x133763F7d93f2bC4241f9855F71bE5042f020A20
StrongMindsHold 0xd143988234dF9117f4Baa00b5f8D4A56d64e56eA
Validator.one 0x4bB58cFEa648593c88afBAD5e30C09eFE8783545

The new governors will track their working hours through clockify and publish the Timesheet and Payroll here on talk.
We will use $75/hr, 10hr/week on a 2 week average, we will pay out bi-weekly and with a bi-weekly ONE/USDT average to avoid volatility.

5. Proposal ask

$100,000 (511’179 ONE) for the 9 council members for the elected term of 13 weeks

Due to the volatility of ONE to the dollar, the request is for a dynamic allocation of ONE funds to a static fund of dollar. If funds fall short that Harmony will fund the remaining amount, if overfunded the ONE will remain in treasury for the Term 4 (Q2 2022).

6. Accounts

Twitter: Harmony Validator DAO
Talk: Harmony Validator DAO
Medium: Harmony Validator DAO
Discords: Harmony Validator DAO Server
Telegram: Harmony Validator DAO Group
GitHub: Harmony Validator DAO

It brings us great pride that the Validator DAO has yet again, proven itself to be an effective, self-functioning and self-sustainable entity. The transfer of control was done seamlessly through the successful elections where we witnessed increased participation from new candidates and voters alike. This is a testament to the efforts put in place by all the previous governors, granting us with a solid foundation to build upon, based on the experience and learnings they gained during their term.

What we aim to accomplish this term is no easy feat, and many challenges await us as we push forward into uncharted terrain. Equipped with a balanced team of experienced re-elected governors as well as new governors with fresh ideas, we have nothing but confidence that we can deliver new initiatives, as well as completing any that fell short from the previous term.

In our first meeting, the council members were all added to the multi-sig Harmony wallet and have been given access to all necessary social media accounts and documentation tools.

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@giv @frwrdslosh @Sam @Jacksteroo let us know if there is something missing :call_me_hand:t3::pray:t3:

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Hello @ben2k_Stakeridoo and the Validator DAO team.
I just published the guidelines for DAO funding.

Take a look here.

The biggest thing that I would like to see is a report and accounting for the DAO.

Report & Accounting: Prior to ANY additional funding. The DAO must produce a report for the prior funding period. The report will be in .pdf form and be available to download. In the report, they will list the following items:

  • DAO Mandate
  • Initial Formation Proposal
  • Deliverables and Metrics from the initial funding request
  • Report on the status of the deliverables and the metrics associated.
  • New deliverables for the next three months, plus proposed metrics.
  • Accounting of the DAO treasury which must include:
  1. Income
  2. Payments including links to the community vote and how the payment is tied to the DAOs mandate
  3. Current assets on hand (including social channels such as Twitter, Discord, Telegram, etc. If the DAO has created content, list and link to that content)
  • Current community statistics. Social channels with followers and engagement. Number of Governance Loops completed.
  • Lessons learned during the prior term. Both positive and negative.

I recognize that this is the first time that we are deploying these funding guidelines and - again - I am asking the Validator DAO to be the first into the new paradigm. (My older brother always talked about how being the first born was pretty rough… I kinda get it now.)

We are happy to work w/ the VDAO to get to where we need to be on the accounting and reporting piece. I will ask @frwrdslosh to keep it at the top of the DAO Ops agenda until it’s sorted.

I would ask that ALL DAOs look at the funding guidelines as concepts like the Decentralized Governance Loops, Operational Plans and Self-sustainability are vital considerations for the Harmony DAOis-sphere this year.

Thanks again!

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Price volatility goes both ways. Funding occurs using volume weighted price, based on the Funding FAQ.

When will the funds be released?

Funds will be released according to the milestones using the $ONE tokens. For calculating the amount of ONE, Harmony uses the 24-hour volume-weighted average price using the Binance API (“weightedAvgPrice”) around the time of transfer.

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took us some time but here we are :muscle:t3:

With the new Validator DAO page we will more include this and feedback’s from all previous governors

Lessons learned during the prior term. Both positive and negative.

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Approved for $100K funding. Looking forward to strengthening the network with the help of VDAO. :muscle:

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Thanks so much! Looking forward to rolling up my sleeves and getting things done!

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Appreciate the response! Like Coinkin said. We are putting things in action! :blush:

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Thanks jack, if you have any feedback or suggestions on the report please let us know. Do we need to fill out
harmony.one/grant-funding to request the transaction?

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Congratulations on approval! :confetti_ball: :blue_heart:

And thank you very much for the detailed report. I especially enjoyed the Lessons Learned portion. Lots of good feedback for DAO’s and Harmony there.

I have no doubt that with each term the VDAO will only get better and “busy work” will be more automated as we shift focus to DAO tooling.

Regarding the “accounting”, just a minor note. Moving forward, it’s important to not only show who received funds from the treasury and how much they received, but also, where the money came from.

How did the treasury gain certain funds? Obviously, most will have been coming from Harmony as part of the DAO grants, but this will become especially important when DAO’s become more self-sufficient and the treasury has multiple revenue streams.

Linked, here, are the DAO Funding Guidelines. Please review, to know what to expect regarding future funding requests.

@ben2k_Stakeridoo yes, please submit an invoice. :smile:

Thank you VDAO and VDAO governors. Keep up the impressive work. Looking forward to Term3. :rocket:

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funding has been completed: Harmony Blockchain Explorer

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