[WIP #28] - Wonderland Organizational Structure


[WIP #28] - Wonderland Organizational Structure




Scope

The scope of this proposal is the define an official structure for Wonderland as well as create the positions required to maintain the protocol running smoothly.

Link to previous [DAO Discussion]

[RFC] - Wonderland Organizational Structure
[DAO Discussion] - Wonderland Organizational Structure

Snapshot

[WIP #28] - Wonderland Organizational Structure

Objective:

This proposal aims to implement a management structure by creating a Management Team with clearly defined positions and duties. The goal of this initiative is to make Wonderland’s workload and responsibilities more transparent and efficient.

Moreover, this proposal opens up the possibility of rewarding the community and volunteers for their contribution without creating fixed positions for them.

High Level Overview

This proposal will define the following items:

  • High level organizational structure
  • Proposed Management Team structure/roles
  • Officially define the Treasury Council
  • Impact of the current changes

Provide Low Level Details

Organizational Structure

  • DAO: Ultimate decision maker setting the guidelines and vision for the protocol to operate.
  • Management Team: The Management Team is composed of key positions that ensure the stability and proper operation of the protocol on a daily basis. Management Team members are elected by the DAO and are responsible for carrying out the DAO’s vision.
  • Treasury Team: The Treasury Team includes any position that is focus on investing the treasury (e. g. Treasury Operators). Investments proposed should meet the DAO’s guidelines/risk limits.
  • Treasury Council: The Treasury Council is made up of knowledgeable community members that vote on proposed strategies.
  • Multisig: The multisig executes the transactions voted on by the Treasury Council. WIP #21 has elected the current multisig members.

Proposed management positions

It is believed Wonderland would benefit from the proposed structure by having a Management Team of 6 committed and trustworthy members, to ensure the protocol is well-managed and efficiently operated at all times executing the DAO´s will.

Structure and terms:

  • Members of the Management Team should be long-standing members of the community who have demonstrated a continuous commitment and regular involvement over a period of at least three months.
  • Every six months, all management team members should be reviewed by the DAO.
    • Each member is reviewed individually, through a special forum thread with a poll. In the event that the poll results show less than 70% support, a snapshot vote will be conducted.
  • If their work is deemed unsatisfactory, management team members can be removed from their positions through the governance processes or by voluntary resignation.
  • Any open spot shall be temporarily covered equally by the other team members, until a new person is voted in.

It is proposed to place some of the currently elected officials for half a term in the positions described below, with the first evaluation scheduled after 3 months to continue the current transition.

Communications Officer - Alice in Wonderland@AliceInWonderland

The Communication Officer serves as the face of the DAO. They are generally responsible for managing and handling communications in both directions. They are involved in various activities such as communications, PR, social media, and events.

Responsibilities

  • Deprecate the Senior Moderator position and assume its responsibilities.
  • Correspondence and communication with external parties for any non-treasury related topic.
  • Maintaining Wonderland’s social media presence and ensuring the security of the accounts.
  • Planning and organizing regular AMAs and community events to boost brand awareness.
  • Providing regular updates to the community and managing community issues.
  • When necessary, provide factual information to reduce FUD.
  • Managing the Snapshot account and publishing votes.
  • Marketing of educational content on all platforms
  • In charge of holding, securing, managing, and distributing the budget of the Team. *¹

Operations Officer - Queen of Hearts • TBD / Call Letter

The Operations Officer ensures that all operations are documented in detail, conducted efficiently, and with the utmost transparency. Provides support to all departments to ensure that they are working together effectively and assures the authenticity and relevance of all information before reaching out to the community and overseeing the protocol’s councils.

Responsibilities

  • Collect key information from all departments and make it available to relevant parties as necessary.
  • Ensure that transactions posted to Multisig have been executed and retain all related documentation.
  • Provide support to other departments as required, such as governance research, communications support, and technical testing.
  • Provide easy-to-use materials for the communications department so that the communications team and moderators remain informed at all times.
  • Participate in all external communications with third parties for the purpose of documenting and disseminating information. Provide transparent info to the Communications Officer, for DAO transparency.
  • Ensure that workflow and information flow are established, both within and outside the Team.
  • Verification of information before communication material is officially published.
  • Feedback from the community is collected and relayed to the appropriate departments.
  • Monitoring of the Treasury Council, relay results/info to applicable departments.
  • Keep track of internal work, document it, and organize departments’ collaboration efforts, when necessary, while ensuring deadlines are met.
  • Ensure proper steps are taken once legal advice is received to ensure legal compliance and reduce liability.

Technical Officer - Cheshire Cat@Catalyst

The Technical Officer is responsible for the maintenance and improvement of the protocol’s platforms. Furthermore, they ensure that all relevant technical information is properly documented and available for review by the DAO.

Responsibilities

  • Maintaining Wonderland Tech, improving it, and adding new features as necessary.
  • Ensure that Wonderland’s smart contracts are functioning properly.
  • Creating and maintaining bots for Discord.
  • Improvements to the security of Discord and dApp.
  • Ensure that routine technical tasks are completed in a timely manner.
  • Community feedback is implemented.
  • Ensure that all token statistics are displayed on an up-to-date dashboard in accordance with Treasury Council guidelines.

This further enhances WIP #24 by adding a Technical Officer role, responsible for managing Wonderland’s technical aspects. Additionally, they would be responsible for the funding allocated for maintaining Wonderland sites and underlying IT, up to a maximum of $10,000 per month. Please refer to WIP for more information.

The allocation will reimburse any costs incurred prior to this vote for maintaining the backend.

Governance Officer - Timekeeper@NalX

The Governance Officer is responsible to enforce the DAO’s frameworks and ensure the proper documentation of the DAO’s vision, roles, votes, etc. They shall ensure that the DAO members have the tools necessary to engage in the governance process.

Responsibilities

  • Monitoring the progress of governance proposals.
  • Analyzing proposals for conflicts, risks, and compliance with previous DAO decisions.
  • Following a vote by the DAO, ensure that official documents are amended as necessary.
  • The provision of insight regarding the compliance of the internal strategy with the DAO code.
  • Ensure that the governance framework, voted policies, and legal requirements are adhered to.
  • Contribute to the development of proposals by the team and community.
  • Managing the Wonderland Forum as an administrator, including pins, moderation, and structure.
  • Lead governance discussion and promote engagement.
  • Ensure the legal aspects of the DAO are taken into consideration and professional opinions considered.
    • Until a formal legal budget is allocated, if legal advice is required for the DAO governance aspects, the required expenses will be voted on by the Council. Upon receipt of this approval, the DAO will be notified within 48 hours when applicable.
    • All costs for legal consults will be covered by the treasury and included in the treasury report.

Financial Officer - Caterpillar@ruian

The Financial Officer is responsible for the organization of repeatable tasks (e.g. claiming rewards, monitoring farm, etc) in the absence of prior standardized DAO decisions or enforcing said decisions when applicable.

In addition, they are the main point of contact for external requests/offers such as venture capital investments, listing and partnerships. To ensure a smooth flow of information and risk management, they must maintain close communication with the Risk Officer and Operations Officer.

Responsibilities

  • Point of contact for negotiations with 3rd parties, such as OTC deals, investment conditions, partnerships, etc.
  • Organization and management of deployed strategies and their profitability according to DAO guidelines, protocol owned liquidity pools, rewards claims and Wonderland’s farm.
  • Providing assistance to the newly elected members in developing strategies.
  • Creates monthly Treasury Performance reports to ensure holders are provided necessary insights into the effectiveness of the protocol.
  • Review performance of elected treasury team members and monitor trading rewards.
  • Help coordinate redemptions.
  • Assist is assessing community proposed strategies for risks and conflicts.
  • Work with the Risk Officer to help the DAO establish proper guidelines/risk limits.

In order to qualify for the Financial Officer position, candidates must possess a comprehensive understanding of the protocol, as well as a general understanding of DeFi. Prior to applying for this position, an interview with the Risk Officer is requested, to ensure that the position is filled as efficiently and effectively as possible.

This ensures the execution of the DAO´s guidelines and treasury deployment based on the wishes of the collective will.

It is believed these positions are required to properly ensures the execution of the DAO´s vision and wishes of the collective will.

Compensation

It is proposed that the DAO works towards standardizing necessary positions and keeping costs reasonable, yet rewarding those who step forward and help the protocol on a daily basis.

The level of commitment and trust required for each of the positions is the same. It is also necessary that all positions work together in order for the protocol to function effectively. Thus, equal compensation for all Management Team members is proposed.

These are full-time positions that require daily activity. Each Management Team member is proposed to receive 0.25 wMEMO for every 30 days of service, 50% payable in stables, based on market price, upon request. Management Team members are not eligible for trade rewards.

This would incur the DAO an additional expense of 1.25 wMEMO monthly / 15 wMEMO yearly for a management team of 5 members. It is recommended that wMEMO purchased through buybacks are used to facilitate payment.

Compensation will be evaluated on a regular basis to ensure they remain reasonable and align with the latest treasury guidelines. The compensation will be changed through a DAO vote.

Treasury Council - Red Guards:

A council of 5 voting members is to be implemented. Formed by 5 long standing and DeFi knowledgeable community members. The Operations Officer monitors and documents the votes and ensures the information is forwarded to all applicable positions.

Council members shall be voted on each quarter via open call letter and evaluated by the Risk Officer for DeFi knowledge and potential bias - if this proposal is implemented, current council members will continue to occupy the positions until the first formal council election vote, without extra compensation.

If not enough community members present themselves for council spots it will be filled up with Team and elected members, based on knowledge levels and evaluated by the Risk Officer.

Council members may propose strategies if applicable, but need to abstain from the voting process for self-proposed strategies. An elected member will fill their place temporarily.

Any proposed profit bearing strategy to be voted on should include, at minimum:

  • Project name & official links
  • A summary of the due diligence done
  • Risk assessment and profitability estimation

Contrary to what was initially voted in WIP #22, the Risk Officer will now identify and share with the Treasury Council the risks associated with each strategy prior to the council’s vote, when necessary, rather than evaluating the strategy after the council’s vote.

Council members should receive compensation in the form of 0.2 wMEMO per quarter, for their time, support and service, not applicable for Management Team members or other salary receiving elected positions.

This would incur the DAO an additional expense of 1 wMEMO quarterly / 4 wMEMO yearly for a treasury council of 5 members when no other elected team members are part of the council.

Consequences of the Structure Changes to existing elected member Team and their allocation

The current elected Team members who are not proposed for one of the management positions will remain in their current roles. They will concentrate primarily on their community support responsibilities and other duties, such as being members of the current Treasury Council, until a DAO votes on a revised formation for the council.

The previously elected team which served as Moderation Team will be reduced and will be responsible for community engagement. A maximum monthly compensation of three thousand USDC (3,000) per team member (based on equal work) is proposed. The previously allocated budget will remain the same at twenty-five thousand USDC (25,000) monthly. The newly available portion of the allocation can then be utilized for community building, events, and rewarding exceptional community service.

This change will allow more flexibility to reward community members that contribute, without the need for a proposal to have specific community members elected to be rewarded. Everyone will be encouraged to participate as a result.

Members of the Management Team may moderate, but are not required to do so and are ineligible to receive a share of this allocation.

*¹ This budget will remain at the discretion of the Communications Officer role.

Business and/or technical requirements of the implementation of the proposal

There is no special requirement to implement this proposal.

6 Likes

Well organized and solid proposal, with these positions in place we can move forward without friction and make up for the last 10 months we lost with unorganized, lack of communication from the core team, weeks delayed on multisig and fishing. Full support for this!

3 Likes

What about the compensation being reflected in USD as was discussed during previous governance processes?

Queen of hearts role is now reflected as TBD Open call where previously it was indicated as Bamchicka. Can someone shed some light on this change?

1 Like

It was deciced to keep it as wMEMO for the reasons discussed during the RFC and the paragraph below was added to have a reviee and ensure the salaries remain reasonable.

Will let @Bamchicka address the other question.

2 Likes

Can you define what a regular basis is? “Compensation will be evaluated on a regular basis to ensure they remain reasonable”
Who decides what’s reasonable?
Paying salary in wmemo is fine but it should be a fixed dollar amount not something that fluctuates with the market. Tbh knowing our monthly recurring costs in USD would be fiscally responsible.

2 Likes

As this is a fully new position, which can temporarily be filled by the rest of the team together (as it is in most parts done by nobody at this moment) - it felt more fair to leave it to an open call. It‘s not as critical as treasury and can be filled a bit later.

I decided for personal reasons that I can‘t commit the time I would need for the position - but that the DAO deserves.

2 Likes

I agree, displaying or adding a clear mechanism to reflect changes in wmemo price is important.

2 Likes

Yea, I don’t write blank checks to my mortgage company and let them decide how much to take out every month. I operate within a known budget and I’d like to think the Financial Officer position referenced in this proposal understands the importance of being fiscally responsible and transparent. But the lack of wanting to have a fixed USD designation on compensation seems to indicate otherwise as I would have to assume this was discussed internally. The DAO deserves clarity and those leading should want it as well which seems odd to me. I’m transparent so my vote on this will depend on the compensation clarity. I showed you my cards that’s how I am playing them. If you ask around I am pretty good at poker now I wonder if it will be a call or fold. :rofl:

1 Like

Treasury guidelines can be voted at anytime, but this is meant to align with TAPs who are done on a quaterly basis.

However, if there is a sudden pump right after a new TAP or whatever guideline is vote, there should be no need to wait until the next quater to readjust.

These could also he reviewed at the end of each term.

Again, there is no blank checks, this is a flawed argument that makes it sounds as if these positions could pay themselves whatever they want, but they do not have that power.

The USD value of wMEMO can be calculated or estimated. This is more similar to having a mortgage with a variable interest rate. Just because you dont have the specific rate for the whole period, it doesn’t mean you can’t have an educated guess about the costs.

2 Likes

Nobody accepts a job with variable base salary irl. Salaries have a set amount reflected in real currency. Readjust would be based on what exactly? You must have a base to decide what readjustment is warranted. Show me the math in an example of adjustment.

1 Like

There are plenty of salaries in real life with variable rates. You are saying this like no company ever paid employees in equity. Or that servers are accepting their jobs for the poor minimum wage (if we talk about US) and not because of the extra wage they can make base of tips. That is even more true in DeFi.

I also don’t understand why this is a problem now, but it wasn’t for the Treasury Operators when WIP 15 was voted ? Is it simply because the salary proposed it to high or is it really because there is no USD value ? Just because there is a USD value attached to it, it doesnt mean that someone cant be over or underpaid.

We already talked about how the number of wMEMO was picked up. At the end of the day, it doesnt matter what I think or you think a base should be, if the DAO or the team thinks people are overpaid they can propose to lower that base.

A math example of readjustment serves no real purpose other than putting a fake USD value in a fake scenario. If 1 wMEMO is 100k I can readjust the salary to any amount base of whatever number anyone would like.

2 Likes

Wip 15 slipped thru and we needed treasury deployed. I believe in fixing mistakes and making things better. Since TOs will be going back to original roles that will issue be mute. As I pointed out the RO compensation is indicated in USD. Would seem to me consistency would be desired. I’m not sure why there is so much resistance to USD reflection. That being the case then I’ll say salaries too high then in absence of USD reflection.

2 Likes

Not sure what you mean by the TO going back to their original role, but we can discuss that somewhere else ?

As for the RO being paid is USD, that is a valid point. However, you are assuming/stating that the mistake is the way the current positions are paid and not the way the RO is paid. Consistency goes both ways.

In terms of resistance, there is no resistance other than a difference in opinion. You believe it should be done a certain way, others believe it should be done another.

Keep in mind that a salary in wMEMO came from a proposal initiated by the community. Maybe it slipped by some, but my understanding is that people were aware of the incentives, but considered it was acceptable as it is a double edge sword.

Also, maybe that’s just my English, but just so we are clear, what you are asking for is not a USD “reflection” but an actually salary in USD paid in wMEMO. Regardless, I guess we can agree to disagree.

Edit: I will add that I have no issue working on a review process that is more transparent than just stating the salaries will be reviewed and could even include the other positions like TO and RO. However, this will be done outside of this WIP.

1 Like

To illustrate my point, I will use my field, as an example. Using this proposal, the Wonderland DeFi protocol will compensate the Technical Officer, basically the development team, for 0.005% of the Treasury each month, based on the current value of wMEMO. This amounts to 0.06% per year.

Technical Officer is responsible for managing a budget that, if fully utilized every month (a scenario that will rarely occur, I don’t even expect to be above 3% for most months), would result in 0.013% per month or 0.156% per year.

It is my assumption that nobody is trying to protect the applicants, therefore I will consider only wMEMO’s increasing in value for my example.

Considering the mechanics behind wMEMO, it is not expected that the token will trade at premium. Therefore, if wMEMO performs well, it will imply that the Treasury is performing well as well. There is a relation between the percentage increase in the Treasury and the percentage increase in the token price, consequently the percentages mentioned in this post would remain unchanged and will be relevant in every scenario.

Let’s assume, however, that the Treasury remains unchanged due to a redemption period while the price rises, If wMEMO raises to $100,000, a price example given by @NalX above, that would mean that the maximum budget the protocol would have to allocate for it’s development would be 0.027% per month or 0.324% annually. As compensation, it would be given to the Technical Officer 0.019% per month or 0.228% annually.

In addition to the workload, please keep in mind the multi-layer exposure the Technical Officer and all other positions have for a DeFi fund of, currently, 130mm. I can, briefly, elaborate on that, again discussing only the exposure of the position I applied for, if you want.

As far as I am concerned, while it is understandable that Treasury value shouldn’t be the sole determinant in discussions regarding compensation, our salaries as a DeFi Protocol team are extremely below industry standards. In the event we were to receive closer to industry standards compensation, everybody would already be very satisfied with the overall performance of the Team, which is our long-term goal, so I believe nobody would have a problem with that.

Given the reasons outlined above, I do not see the necessity for a discussion about compensation. If anything, I would begin a discussion on how to better secure and compensate applicants, taking into account all the different variables and risks involved.

3 Likes

Well tbh compensating all positions the exact same amount is likely not reasonable as each role
has different levels of duties, exposure and likely the weekly time commitments are different as well. Then if you factor in Geo location for fair market value that throws in a whole new set of variables that are very common in the business world today.
And as everyone knows compensation conversations are never an easy task but typically a necessary painstaking task. In this case it appears it was decided out of expedience and convenience to compensate all positions the same. In IT we call that a bandaid and sometimes they stay in place so long ripping them off becomes a very painful experience. We shall see where it goes.

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It was also done equally as some positions have more responsibility but less work hours, in general it is very hard to say how many hours they will commit on a regular basis.
I believe the team wants to review that in 3 months.

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That doesn‘t change that a clear guideline to review would be more helpful than what is written in the WIP, as the TAP doesn‘t regulate salaries.

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Although I don’t know if we can make changes to the proposal at this stage, I’m totally on board to do so if we can. Gov God @NalX?

1 Like

Not at this stage, but no reason not to do something like this. Deserves it’s own proposal imo.

3 Likes