Daoism Systems Development Q2 Proposal (214K USD + 100K D2D)

Governance
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Daoism Systems: Development budget for PrimeLaunch and PrimePools

As agreed in the proposal of February 2, 2022, Daoism Systems has successfully set up a dedicated engineering team and already started development work of several PrimeDAO products. For a smooth and efficient further development of the main products PrimeLaunch and PrimePools, we propose the following planning for the Q2 2022.

Q2 Key Objectives

As a part of a D2D workstream Daoism Systems Dev-Squad is focusing on a full cycle of software development, starting from writing technical specifications to the actual code implementation. As a main development force of PrimeDAO, Daoism Systems takes responsibility over the design and development of PrimeLaunch and PrimePools. In this cycle we aim to address the following primary objectives:

  • Development of the PrimeLaunch V2 version frontend
  • Deployment of Prime Launch on Symmetric on the Celo network
  • Design and develop a new Prime Pools app(back-end and front-end) on Balancer v2
  • Design, develop and implementation of governance mechanisms for Prime Launch and Prime Pools

Objectives Breakdown

Cycle 1 ( # April ) - Main Objectives:

First month is the preparation stage for Prime Pools, the main objective of which is to come up with the technical spec and start the development:

  • Technical specification for Prime Pools
  • Seed Module v2 audit recommendation implementation

Cycle 2 (#May) -Main Objectives:

Second month is the beginning of the development stage. The objectives are:

  • Prime Pools smart contracts implementation
  • Prime Pools front-end implementation
  • Prime Pools audit
  • Seed module v2 front-end implementation

Cycle 3 (#June) -Main Objectives:

  • Prime Launch Celo deployment
  • Prime Pools audit implementation
  • Prime Pools deployment

Total Rewards Requested

  • USDC: April: 60,75K + May 77K + June 77K
  • D2D: April: 40K + May 30K + June 30K
  • In order to support these tasks, we will be providing support with 23 FTE´s in Q2

The full cost breakdown can be found here.

4 Likes
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I am supportive of this proposal.
Arseny, the cofounder of Daoism Systems, is one of the core builders of Prime DAO. Empowering his efforts to build an engineering squad to help Prime products scale is essential to our progressive decentralization.

Though, I think it would be good to clarify the motivation behind the D2D ask, if there is any vesting expected (which there should be) and if this quarterly bonus is expected to be a common practice?

2 Likes
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Thanks for the support! Really appreciate it. Daoism Systems aims to provide value to PrimeDAO by participating in PrimeDAO initiatives such as Prime Pools, what requires having “skin in the game” and incentives alignment. I don’t think that proposals from other groups include vesting schedule, however we are open to the discussion. Also I would appreciate a little bit more elaboration on the bonus question as it is not entirely clear.
Thank you

2 Likes
4

Understood!
Thank you for your clarification. Incentive alignments and skin in the game are my reasoning behind the vesting structure as well. I think it would be nice to have that as a custom. I will prepare a policy proposal related to this topic and post it before Q3 to see the reaction.

Also, the use of the word “bonus” was to underline the fact that the D2D ask is to align incentives rather than to cover operational costs.