Validator DAO Term 4 Introduction & Funding Proposal

Validator DAO

Dear Harmony Community,

The ValidatorDAO Term 4 election is in!

1. Election results

  • We had 27 Validators vote between 12 candidates, with 1 candidate that withdrew their application – CoinChowder. Results are seen below or here
    • The 9 Signatories for Term 4 are: PiStake, Hound, PeaceLoveHarmony.one, Crypt0Tech, Titus.one, Affinity Shard, Symphony.one, James – StakeIt.ONE and QuickOne_Validator.

2. Elected Signatories for Term 4 and associated roles

  • Elected Signatories for Term 4 (18 Apr 2022 – 18 Jul 2022) (13 weeks from 18 Apr 2022)
    • @PiStake - Secretary, Treasury and Twitter Space (also backup host for Sunday 9PM EST twitter space)
    • @HoundOne_Validator - Guides & Docs, Secretary, Data & Graphics and Treasury
    • @PeaceLoveHarmony - Participation, Validator Initiative, Data & Graphics and Twitter Space
    • @CryptoTech - Participation, Validator Initiative, Secretary, Guides & Docs and Treasury
    • @Altocryptotitus - Guides & Docs and Validator Initiative
    • @AffinityShard - Participation, Guides & Docs, Landing Page, Secretary and Data & Graphics
    • @Symphony.One - Guides & Docs, Data & Graphics
    • @StakeIt.ONE - Participation, Guides & Docs, Twitter Space and Landing Page
    • @QuickOne_Validator - Participation, Validator Initiative, Secretary, Guides & Docs, Treasury and Twitter Space

3. Overview of the Validator DAO’s Mandates & Deliverables for Q2 2022 (Term 4)

  • The Validator DAO is tasked with and trusted to represent, expand, secure and strengthen the Harmony community. This is done while supporting the Harmony Protocol and Network.

  • The 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 Validator DAO’s Deliverables for Q2 2022 (Term 4):

    • Increase participation in meetings, discussions, events and voting.
    • Validator Bootstrap initiative - Bring online, maintain and promote this initiative.
    • Pave the way for the VDAO in being self sufficient. Enable multisig staking functionality of the VDAO multisig wallet.
    • Integrate the use of more DAO Tools to make VDAO more efficient and organized.
      • Possibly migrate governance voting system after feasibility review.

4. Multi-sig Wallet and Payment Structure

  • Harmony Validator DAO Treasury Address:

    • Harmony ONE Native format: one1zw4yd6xgx79af3z5d93tke5ntemrqdjd4qpjfl
    • Native ETH format: 0x13aa46e8c8378bd4c4546962bb66935e7630364d
  • Owner’s of the Multi-sig Wallet:

    • PiStake - 0xB5944759079B58Fb507935F7549b1d39fE716fC7
    • HoundOne - 0xAcF55BeC11D38A1a13dAa13668032CaA2ca59c2D
    • PeaceLoveHarmony.one - 0x53d2ae319920Cf1Ea1Ef754e91150d6C356a815d
    • Crypt0Tech - 0x636A6aC54b1230903FfCd38AD5a22491cbB798c8
    • Titus.one - 0x3d1a3FFcA0a0DF2e311A86DE81e01bC2C026892e
    • Affinity Shard - 0x1b7fdd0506667e4a3970d9a27be3060c9971F5A5
    • Symphony.one - 0xFDbF61d09bFAd5B38963369eaC44F26Fa83B8F73
    • James – StakeIt.ONE - 0x45879d5626939db29008Fbd33cb1a418929548eF
    • QuickOne_Validator - 0x62a6DFD33A96ed23bE7044FCa30369dBD1912d71

The new signatories will track their working hours through clockify and publish the Timesheet and Payroll here on talk.

For working hours we will use $75/hr, up to 10hr/week on a bi-weekly basis and with a 24-hour volume-weighted average price using the Binance API (“weightedAvgPrice”) around the time of transfer.

5. Proposal ask

  • $100,000 for the 9 council members for the elected term of 13 weeks.

6. Accounts

As elected signatories, we are all humbled by our peers for choosing us to represent, maintain and change the Harmony Validator DAO. The new term was transferred along to many new signatories that are now part of the VDAO, offering their breadth of knowledge, time and expertise. The voting and transfer process could not have been a reality without the foundation put in place by our previous colleagues from Term 3 and before.

The tasks ahead for Term 4 will pose many challenges for the team as there are many questions that are unanswered for the Community and the Network. Some being: Will the long overdue Bootstrap become live, how will multisig staking work, and how will future Terms be funded?

Nobody has the answers to the above questions and there are still many more unanswered. We humbly ask for your input and participation on these matters put forth as we all strive to build, support and onboard for the Harmony Ecosystem.

In our first meeting the VDAO came together to discuss roles, deliverables and the future Terms for this DAO. We are not a closed off entity and wish to foster the growth of the VDAO and Harmony. Without everyone’s knowledge and dedication none of this would be possible. We would like to again, thank the previous Terms and the community for all of their input and wish to continue working with each and every one of you going forward :blue_heart:

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Thank you for submitting a proposal to Harmony’s $300M Ecosystem Fund. We are in the process of reviewing your proposal and will assign a representative on behalf of the Grants Ops team.

We would also love :blue_heart: to have the Harmony community participate to ask questions and provide feedbacks.

If you have more details to add, please do so by replying to this thread.

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Hello @Sam & @frwrdslosh and sorry for the delay, here is the Term3 Report we had missing, anything else please feel free to reach us!!

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Hello VDAO term 4!

This proposal is under review. I would also like to provide a brief update from Harmony.

All approvals and proposals for DAO Bootstrap Funding are still paused. This is a temporary measure. Please do not let this dissuade you and your team from building. Stay tuned for another update regarding DAO Bootstrap Funding :soon:

note: this comment is not an approval of this proposal.

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Still paused?? It’s disappointing to see the core DAO’s funding paused as well.

Unfortunately, yes. All funding is still paused. Will have another update soon. And of course make sure you hop in the DAO All Hands today!

Unfortunate to hear! I understand, though. Financial incentive is a powerful motivator. Hope to have better updates for you soon!

I’ve put in hours after hours for nothing, don’t start. You was hired to make this process work smoother. I sent you May deliverables, haven’t even heard back from you.

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I understand your frustration and I apologize. I was brought on to make this smoother and I will accept the blame. Funding has been paused for several weeks now and has been reiterated in our weekly DAO All Hands. I did receive your May deliverables, I apologize I did not respond to your TG message.

I apologize for my frustration. The Core DAO’s actually help the network and increase security. We should be considered more like employees. With the hard fork coming, who are you going to depend on to make sure everyone has upgraded? When a shard goes offline, who do you depend on to reach out to Validators to reach consensus again? Having funding in question is really bringing down productivity, that’s just the facts. Most of us were hoping for some clarity after this offsite meeting.

We need funding to make snapshot.org work.

Our hours are all transparent and up for people to examine. Harmony shouldn’t have suggested $75 an hour in the first place. It’s still not easy to fill the 9 seats offering that as it is.

It’s going to be a long time before the validator DAO actually functions like an actual DAO because there isn’t enough validators that care to or have the time to participate.

Our pay is figured out by the average price of ONE that we work. It’s no fun watching it deplete in value while we wait for funding to be unpaused. Not that I would’ve sold any, that’s besides the point.

We had a path to self sustainability, it was the bootstrap program. I’m hoping that those funds are still there, or else we need to rethink our path.

P.S. please tell me that VDAO term 1 is taken care of now?? I tagged you on discord with the deliverables, the same place you asked for April deliverables. Is there a better place?

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Still no replies. Almost 2 months later.

Weird.

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Thank you, if there is anything else we need to do please just say the word.

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Why hasn’t this DAO been funded yet?

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@frwrdslosh Below are the monthly reports for April & May 2022 posted to 1DAO alliance. Posting here for more clarity and access.
April 2022: CharmVerse
May 2022: CharmVerse

Thank you,

VDAO Term 4

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