The issues that persist here have risen due to poor goal setting, budget monitoring mechanism, ignorance around strictness of milestone management and most importantly, excessive opaqueness of the whole process.
I’m not sure if this is an understated point, or if I am unaware of the team dynamic (if leads & managers escalated issues about difficult workloads to topmost senior leadership in a timely manner)
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But a strongly registered protest that arrives its destination 8 months AFTER the launch of the initiative (June offsite meet), is neither swift, nor decisive decision making, with utter disregard of regional differences in terms of pricing, outcomes & goals for the community and ecosystem itself.
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Financial misallocation, poor experimentation, unfocused strategy & untimely/poor reset and adjustments have become hallmarks of this ecosystem, a drastic change about the sentiment in 9-12 months.
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It wouldn’t be remiss to admit as an investor & a community of the CT space that Harmony doesn’t inspire confidence in terms of on-chain reputation, whether it’s ecosystem projects, DAO’s or attracting top crypto talent.
(It has been jokingly referred as the rug-chain by eminent crypto sleuths due to poor governance guard-rails, on-chain analytics opportunities, poor developer on-boarding experience & the correct knowledge resources for a contributor to kickstart their journey).
- Lack of appropriate operational frameworks, operational deficiencies, rolling business strategy & frugal, small-startup thinking has brought the whole ecosystem to kneel, and this is without the backdrop of looming bridge hack, leaving the investors and community to an uncertain future.
[WhatsApp as a product with small team serving millions of customers is an absolute outlier, because despite their early scaling effort, the team had no protocol revenue, there was little in terms of data governance or financial counterparty risk, and it was prime opportunity for founder exit, at the expense of planned product roadmap goals.]
- While financial investments in a highly speculative asset class, based on faith in a team & personal risk appetite might seem lucrative option, managing community & investor confidence is an extremely slippery slope.
It’s high time to go back to the drawing board in a timely manner, or the market forces will do it for you. People want to be lead, with precise goals and foreseeable vision of a future, and its the leaders who set the tone.
Edit1: Just to clarify, I do not shift the entire cauldron of blame towards the Harmony core team, and hold DAO signatories as complicit too in certain regard.
The current debilitating condition either indicates a deeply entrenched administrative atmosphere of exclusionary, hierarchial circles with lack of upward feedback channels, (about raising timely red flags, whether it’s related to capital, operational, and knowledge power) or colluding circles of incompetence with malintent in the absence of oversight from all sides.