Summary
This Phonon Improvement Proposal 00 (PhIP-10) represents a formal proposal (to be voted on via Snapshot by Phonon holders) to authorize the formation of a Phonon DAO Launch Group (PDLG) with defined responsibilities and powers.
The PDLG’s members would be empowered to:
Propose liquidity boosting activities on decentralized exchanges, and explore options for listings on CEXs when necessary and appropriate (without giving CEXs undue influence over the governance of the DAO and ensuring the DAO has financial resources required for long-term operations) for community approval
Engage in prudent and appropriate marketing of the Phonon network to raise awareness and interest
The PDLG’s members will be at will and members of the DAO who choose to participate in meetings will be considered apart of the group and hold a voice in decisions.
The PDLG’s main goal will be to push Phonon to the point of a “Release” of the Phonon Application to be used by anyone.
At this point the PDLG would be dissolved and official DAO Working Groups will be responsible for guiding the DAO’s activities afterward.
Motivation
The Phonon DAO, which was officially launched on December 17, 2021, is responsible for guiding the development and incentivizing the utilization of the Phonon protocol. Launching any new organization is a challenge, and the Phonon DAO is no different.
I am proposing that the community approve a Phonon DAO Launch Group (PDLG) that would be empowered to engage in activities on behalf of the growing DAO community that are of key importance at this stage, including:
Improve PHONON liquidity via incentive programs : PDLG would be responsible for developing an incentive program, securing technical resources to implement and bringing the program to the community for a rapid vote for implementation.
This would include using the DAOs treasury of DAI and ETH to Yield Farm. Whenever we have yielded more than $250. We will market buy $PHONON until our price is back within range of trading pairs. They $PHONON that is bought will be used in several ways. 1.) Create new liquidity with assets that have been earned with Yield Farming. 2.) Airdrop $PHONON to liquidity providers. 3.) Incentive new liquidity providers. 4.) Any left over will be returned to the DAO multisig.
Crafting an initial PHONON marketing campaign : The campaign would help the crypto community understand the value of the PHONON network and how they can engage.
Developing a roadmap of DAO activities This roadmap would commit the DAO to engaging in certain activities related to integrating the PHONON token into the PHONON protocol, strengthening the protocol by incentivizing hardware users (e.g., Lattice users) to help bootstrap the network, etc. Activities should be focused on ensuring the long-term health, sustainability (maintaining control over the majority of its Treasury and diversifying where necessary), and decentralization of the protocol.
Creating partnerships for marketing and furthering the protocol with an allowance to spend up to 10% of $PHONON held in the multisig to accomplish this.
Expanding the DAO Treasury Multi-Sig : Facilitating the process of nominating (and securing community approval of community members who will serve on the DAO Treasury multi-sig to increase security and decentralization) We currently need to replace at least 3 Multi-Sig signers. This group will appoint new individuals to the multisig.
The PDLG would consist of individuals from the community and the DAO Stewards who have the bandwidth to:
Engage in monthly planning and implementation meetings around the PDLG’s priorities, and a willingness to take the lead on implementing in key priority areas
Can participate in bi-weekly community calls (held on Discord) to report to the community on activities and progress
Draft proposals and secure consensus on initial DAO priorities/infrastructure.
The PDLG will also need access to funds to help pay for marketing and other expenses. The PDLG will be allowed up to $2,600 USD value of assets a month to reimberse or spend for marketing and payment of work. Anything larger than $2,500/month will be put up for a seperate snapshot vote. Funds will be calcuated on discord and dispersed the first week of the month to pay for the prior months work.
The PDLG will also be able to use $DAI, $ETH, $SAFE in our treasury to Yeild Farm with. Up to 20k DAI and 6 ETH of our treasury to start the Yield Farming process laid out above.