I think you misunderstood my post looking at your comments, I have not stated a Lead was not needed and my points are about the direction and plan of Pangolin. Here you state exactly what I stated, forget about short term, think long term and how to grow not on how to make short term revenue.
With 200M TVL and looking at similar position dexes on other chains, this can’t be a priority and can’t be on the initial plan. First grow, then optimize. You don’t optimize before you grow because you will cut your growth
And we are loosing vs the main competitors.
Implement a plan that focus on growth, growth, growth and make it happen, not a plan focused on financial statements, positive ROI investments and make more revenue short term.
I just want to see a plan to grow the ecosystem around pangolin, how pangolin will grow TVL, how they will increase trading volume, how they will onboard native projects, how they will dive into the native ecosystem and push it to the next level.
It would probably be better to change that because it may be confusing to non-native English speakers or to write a parenthesis explaining what PO means because some users could think that you become the owner of the Pangolin DEX
I know we are on the same page on how Pangolin should orient itself towards long term growth. If I understand your thread, you want to promote organic, community lead growth rather than focus on treating Pangolin like a business.
I actually think we can do both things and we need to do both.
When I read @hariseldon2 post, it’s clear that he has identified the key drivers - community development and support, smarter use of the existing tokenomics, R&D, marketing and tooling. The use of Pangolin Treasury funds will be done methodically, with proper cost-benefit analysis and business cases.
It’s strange but I don’t see the OP focusing on “financial statements, positive ROI investments and revenue”. It’s only relevant to one part of the proposal dealing with use of Treasury funds. If we don’t have that, we’ll end up wasting money on silly things that add no value. If you want an example of what that looks like, you can review Dash proposals going back to 2017 - creating DASH themed TV shows, buying POS machines, advertising at Air Shows. It was pretty ugly and was money badly spent.
If we look at successful platforms, they only spend treasury funds after reviewing business cases and scrutinising assumptions. It’s good business practice and part of good governance.
And I’m glad to hear that the Treasury is going to be invested sensibly to earn interest rather than just sitting there. We can see what Yearn and other projects do with their pools - they spend every minute looking for yield and ROI anywhere they can. Guess what? Investors love that.
However these topics are not the primary focus for today. Today, we need to install a team and give them a budget and authority needed to make Pangolin the success I know it can be.
This is such a huge need for Pangolin right now, and thanks for stepping up!
After reading some of these scathing comments:
Im all for working with the AVAX defi community as a whole, and taking the lead, sure…
…the BASICS must be put in place as well
Many of the things in this plan are necessary to run an organization in general, and the rest are specific to building out the Pangolin foundation… from which it will operate as a beacon to the AVAX defi ecosystem. Its not an “either/or” choice
THEY ARE NOT IN CONFLICT with taking the lead in growing the AVAX defi ecosystem by supporting current and upcoming projects…but necessary to be able to do so!!!
There are some very intelligent people responding here which is fantastic. Conflict in conversation leads to wonderful opportunity with the right mindset. The more diverse and vocal the community is the better. Continue to listen and stretch every idea for that diamond.
With that, I am 6 months new to crypto so I don’t presume to understand all of the tokenomics yet. I do understand teams and leadership. I am appreciative of the HUMILITY Justin (Hariseldon) has already shown in this discussion. Our best leaders are those with the greatest humility who look beyond themselves and want to build wonderful things with wonderful people and I see that in Justin’s comments often.
Justin doesn’t have to have all the answers but the ability to enable others to bring their talents to the game so that we all win together. I have already seen him exemplify this in his language which follows his values and heart.
So thank you Justin for already providing us a great example of your leadership qualities through your humility.
The one recommendation I do have is to change your title to Pangolin Product Lead or Director. Owner implies a CEX to me from a newbie status instead of a community DEX. Thank you…
You’ll be glad you changed your title - I was going to suggest “Platform Manager” as that gives you some flex if you need to negotiate with 3rd parties while avoiding most of the legal and regulatory problems that the word “owner” will definitely send your way.
I like your post, I think you ask the right questions on it
I think this is a must before we can even start to discuss anything else. If there is no vision, mission and strategy Pangolin will just be taking random directions. The vision and mission needs to be clear, it needs to be voted and needs to be approved by the community.
After that, people should have the possibility to present themselves to the position and make an introduction post about why they should be the ones leading and what plan they will put in place to achieve the vision and mission of Pangolin.
This post is basically a presentation of the new employee of Avalabs that will run Pangolin business, it is not a community proposal nor a governance decision at this point. Who will step up for the position if it was never discussed and this post is announced by Avalabs as a big milestone and an official proposal for a full time hire?
Even if there was people that could be interested, the way the proposal was done has removed any possibility of anyone else stepping in because everyone feel it is already settled.
I’m a big fan of quadratic voting if it is used in conjunction with other tools to minimise the risk of gaming (e.g. flash loans are coming and they change the dynamic). It’s a delicate balance between maintaining capital efficiency and healthy governance for the platform. The good news is that judging by the turn-out and size of wallets used in recent votes, there is broad-based support to use governance as a means to implement change - that’s very exciting. I say let’s use the tools available for now and go from here.
A few people have already commented on the limitations of the current voting system when it comes to using staked PNG and LP tokens. I agree that there’s merit in considering how we recognise voting rights for LP tokens, including those sitting in compounding mechanisms such as Snowball. Those compounding pools provide significant liquidity to Pangolin and pay fees but get zero voting rights. Perhaps those questions are for a later date. Let’s build the basic governance structure and get the team installed first.
Wrapped around this is how the off-chain governance interacts with the on-chain voting outcomes. Every major DEX/CFMM has sound off-chain governance to minimise unintended outcomes and lead the conversation. Providing the community some clarity on what these powers are and how they will be used is something we need to do soon once the team is established.
Thanks for your enthusiasm and support @hariseldon2
I think before we just put ourselves up for individual roles, we need to think about what makes a good team.
Although Pangolin is young, we have an incrediable amount of capital avaliable for funding. We are not in a position where we need to rush or rely on a few individuals to try to drive the project alone.
Project Manager, Head of Treasury, Lead Developer, Head of Marketing, Partners and Communication Manager, Community Voice Rep, User Support and Engagment Manager, Voting and Governance Representitive, etc etc. are all different jobs, for at least one if not multiple people.
There needs to be a structure in governance and management, with peer to peer accountability.
Developers and Marketing and Treasury for example have different priorities, but must come to consensus on goals and priorities based on what the community wants and desires.
If one person is responsable for so many different aspects, not only will we not hit our full potential, but we will end up with constant arguments between the ‘leader’ and the community, and the project will fail.
We need to set out the rolls, and have a team of experienced and enthusiastic individuals, like yourself, who have to agree by multisig on the improvements and priorities for the superb community based project.
I really like this and agree. I definitely don’t think I should be in charge of so many different aspects. What I think though is we will go through some hypergrowth and we have to create solid foundations so that we can deal with that hypergrowth.
This does take time though. We need to understand the skills within our community and where people are best suited to help us. I’ve already started the process of setting up some of these foundations, however there’s a lot of legal and regulatory bloat we have to work through.
As an LMS enthusiast myself, I’m excited about the Pangolin Academy. Also, impressive background! Even inspiring. Maybe there should be independent instructors (re)creating courses on their expertise, so this can grow as the process develops. Excited to see what happens next!