Name of Project: SuperUMAn DAO
Proposal Summary This proposal requests 85,000 $UMA of funding from the UMA DAO to the SuperUMAn DAO for operating expenses over the next quarter in order to continue our ongoing efforts and support the adoption and awareness of UMA.
Project Description Who are the SuperUMAns? Before you decide if you would agree to continue funding the SuperUMAns, we wanted to provide a little background for those UMA DAO stakeholders that may be less familiar with us.
SuperUMAns are an indispensable component of the machine that helps UMA reach the greater DeFi community. They know how powerful UMA is, the kinds of things that can be done with UMA, and they are determined to spread the word. SuperUMAns come from all walks of life and are the people that bring the community to life. They have a deep desire to participate in building something bigger than themselves. They feel drawn to the crypto ecosystem because of the potential they see, and they believe UMA provides some amazing tools to help build the future of DeFi. Some examples of things SuperUMAns do include writing articles, making videos, brainstorming new use cases for existing UMA products, and looking for opportunities to collaborate with other communities.
Some additional Links:
Value Add Over the past year, the SuperUMAns have grown from a small group of a dozen community members to a robust DAO with 100+ people bustling with constant activity focused on increasing awareness, collaboration, and adoption of UMA across the ecosystem.
To support this goal, the SuperUMAns are composed of 9 formal teams including: Ambassadors, Content, Education, Governance, Onboarding, Operations, Products, Social Media, and Treasury Management. For more information on these teams check these links out:
As we have been a DAO over the past quarter, the SuperUMAns continue to offer ample value both with discrete deliverables as well as more qualitative awareness of UMA, amplification, and strong relationships and goodwill across the DeFi ecosystem. In addition, they have served as a pipeline of valuable personnel resources to the UMA/Risk Labs team as multiple previous SuperUMAns work for Risk Labs now in addition to a handful of others being regular contributors.
Below are some specific examples by team of the accomplishments and value add deliverables over the past 3 months:
Ambassadors: The Ambassador team internalized this epoch and key members splintered off to form new teams. Through these DAOification efforts, the team prevailed with incredible successes to boast.
Assisted with the ShapeShift (FOX) Success Token by keeping strong cross-DAO relations. KPI options are now in discussion.
Defined and installed a team structure consisting of Research, Outreach, & Technical Strategy branches.
With a new User Interface nearing release, cooperation with the Education team to teach fellow Ambassadors LSP contract deployment skills is our main goal.
Several more UMA product integrations are currently in the works.
Education: As part of the onboarding process all new recruits take a moodle course on the SuperUMAn Learning Zone to learn the mission, values and goals of the DAO. Other courses are being developed for the Ambassador, Product and Social Media teams. This includes topics such as, Data Verification Mechanism, KPI Options, Proposal Writing, etc., and will be expanded upon in the next epoch.
In addition, each week an Internal Learning Session is held. Technical topics include, Optimistic Oracle, Optimistic Governance, Writing an Implementation Document & Deploying KPI Options, and using Dework. Non-technical topics include, Decentralized Leadership, How to Contribute to a DAO, Positive Communications and Cross-Cultural Communications. This continual emphasis on education and upskilling of DAO members helps them to align to the ethos and goals of the DAO as well as making them more confident and effective in achieving their individual, team and DAO goals.
Social Media: One big gripe Twitter followers had about UMA was a lack of CT presence. The SU DAO Social Media team changed all that. Towards the end of the uDAO epoch the SuperUMAn Twitter was at 100 followers. At the end of the uINT epoch, the SuperUMAn Twitter page had a 400% increase, having 500 plus followers, along with an increase in engagement; impressions, likes and retweets. And in the SuINT epoch, we’re at a solid 760 followers and heading towards a thousand. And organic growth (no Ads whatsoever). All these have been made possible through consecutive media Projects, Social media campaigns (integration promotions, Treasure hunts, etc) along with the collective effort from other members of the DAO. The social Media team has also been working closely with the content team to create written content (blog posts) for the SuperUMAn Blog.
Content Team: Restructured the team and we have more contributors ready to create content for the DAO such as POAPs, YouTube videos, educational graphics, etc. Launched the Official Youtube channel for SuperUMAns. The Content team is also currently working on creating the ‘official’ SuperUMAns website.
Onboarding: Received high praises from Dr. Lisa Woken who walked through the entire ‘getting started’ experience. Nuf said! Onboarded X recruits and fine tuned an onboarding process. Implemented a new onboarding structure for the DAO, created new sub-teams within the team.
Products: High level coordination between Education & Ambassador teams continues to grow, helping to build CbaaS, SUPE, Optimistic Governance, and other cool shit.
Treasury: Ran test batches through governance and then full distribution of Stablecoin and KPI Options as DAO compensation for the epoch. Designed an expense tracking template in coordination with all teams to fulfill accurate reporting.
Governance: The Governance Team spent most of the epoch with setting up our Governance structure with the use of Galaxy NFTs to reach consensus on snapshot. We’ve also been assisting with scheduling UMA Voting announcements which include UMIPs, UPPs & Disputes.
Operations: The glue of the SU DAO. The operations team works with many tools and discord bots to help the process flow smoothly. Some of the key efforts include scheduling, task management, and communication. A Community Management Process that provides clear behavioral guidelines within the DAO is near completion.
Deliverables The SuperUMAns are excited about continuing to work with UMA and strive to be good stewards of the resources from the UMA DAO. Here are some of the priorities that we aim to accomplish over the next quarter.
Achieve a minimum of six UMA product integrations with other DAOs.
Continue expanding our educational efforts with a minimum of 8 learning sessions and 6 Community AMAs or external events/Twitter spaces.
Reach 200 followers on the YouTube channel. Continue to support other teams such as social media, governance, and ambassadors with content.
Twitter followers over 1000 this epoch
Build stronger continued collaboration with the Risk Labs team to understand priorities and assist with those efforts.
Search out more audiences and elements inside and outside DeFi to amplify the message of making market access universal.
Slowly but surely strive towards self sustenance through partnership building and smart investment of liquid funds.
The formal request for this proposal is for additional funding from the UMA DAO to the SuperUMAN DAO in the amount of 85,000 $UMA for Q2 2022.
The wallet that these funds would go to is the smart contract controlled SU Polygon treasury safe: matic:0x7C7a1407c35B695E4eE530D80d4bd4C1aF8569E5
Some key elements that we plan to use these funds for include:
Retain comparable compensation for existing contributors Previous plan here (~55k UMA)
Anticipated 25% growth in recruits and onboarding/compensating experts including development talent, accounting/reporting, and content creation (~14k UMA)
Funding for a SuperUMAn incubator/experiment/collaboration fund. We have seen the Risk Labs team do some of this activity previously, and would like to expand the reach of these endeavors. A recent example of this was the SUs investing in POAPathon for ETH Denver that was a great promotional success and there are many opportunities that we would like to explore. Some initial ideas include: becoming a Polygon ecosystem DAO grants committee member, collaborating with CRE8RDAO and Clipto DAO on content and developing a pipeline for UMA use cases, further participation with POAPathon, scavenger hunts and educational promotions, Flipside. Collaborations with other strategic partners, etc. (~16k $UMA)
Team The SuperUMAn DAO has many members that can be seen here. SuperUMAn DAO Members
The SUs use a NFT based governance system and the main treasury where the funds would be sent is contract controlled through a quorum of votes with snapshot integration. Then underneath the main treasury there are team based multisig safes that are controlled by members of a given team such as ambassadors for smaller amounts.
We also wanted to include a current treasury summary for UMA DAO stakeholders. While the SuperUMAns have not finished our first full epoch as a DAO (Ends on March 31) we did want to provide some initial background on where our treasury stands after being seeded with 100k $UMA prior to the start of 2022.
Initially Risk Labs seeded the SuperUMAn DAO with an initial 100k of $UMA. At the time, market value was approximately $1,000,000 USD.
We swapped 36,338k of our $UMA at $6 valuation to $197,511.70 USD + 8.05 ETH as part of our compensation plan needing stables to provide some stability in compensation to more tenured members as well as pay for some fixed expenses for platform usage. Due to macro market conditions, this swap was costly to us.
While not finalized, here is what we anticipate spending thus far this epoch (Q1 2022):
- Spent 14,405 $UMA in KPI options distribution for integrations this epoch. This is a core part of our DAO member compensation.
- $130,000 USDC in stables compensation.
As we round out this epoch, we are anticipating a remaining balance of 47,202.18 $UMA to rollover moving forward.
Due to a downturn in market conditions,the treasury shrunk to $600,000 USD and with the addition of the stable swap, we spent half of that this epoch. So effectively we spent approximately 30% of the initial seed grant (at initial funding prices).
As part of our long term plan, we plan to use the remaining treasury amount for strategic investing and treasury diversification to grow our DAO treasury, continue to seek additional opportunities to seek further adoption and amplification of UMA, and start down the path of becoming more financially independent.
For clarity, the funding request for this epoch is intended to cover operational expenses and we will use the remaining treasury amount for the above stated purpose.