[LRFC] Changes to the Grants Council Role

[Cameron]

Simple Summary

This proposal suggests expanding the role of Lyra Grants Council members to function as ambassadors, representing and promoting the mission, values, and impact of Lyra Grants. By assuming an ambassadorship, council members can enhance engagement, foster collaborations, and increase awareness of the Lyra ecosystem as a whole.

Abstract:

As we strive to maximize our impact, it is essential to leverage the expertise and influence of our dedicated Grants Council members. This proposal aims to expand the role of these esteemed individuals from solely a decision-making capacity to a more active and influential ambassadorship.

Motivation

With the last epoch of the grants council lapsing it is the opportune time to make changes to the role and flag to the community as a whole the intention of the Lyra DAO to continue to build and promote Decenteralised finance.

1. Amplified Reach: By empowering Grants Council members as ambassadors, Lyra Grants can tap into their vast networks, expertise, and influence to extend the Lyra’s reach. This expanded role will enable council members to engage with a wider range of organizations and individuals.

2. Enhanced Engagement: By assuming an ambassadorship, council members can actively participate in outreach events, conferences, and workshops, fostering meaningful connections and collaborations with key individuals and organizations.

3. Increased Awareness: Council members, as ambassadors, can effectively communicate the mission, values, and success stories of Lyra Grants to a broader audience. By sharing the impact and outcomes of supported projects, council members can help generate public interest and support for our cause, attracting new potential grants and expansion opportunities.

Rationale

Expanding the role of Lyra Grants Council members to an ambassadorship aligns with our commitment to maximize our philanthropic impact. By utilizing the unique expertise, networks, and influence of council members, we can achieve the following outcomes:

1. Broader Engagement: Council members, as ambassadors, can engage with potential beneficiaries, experts, and stakeholders directly. This interaction will foster collaborations, create partnerships, and encourage innovative ideas that align with Lyra Grants’ mission.

2. Increased Visibility: Through their ambassadorial role, council members can elevate the visibility and reputation of Lyra Grants. Their active participation in events, conferences, and media interviews will ensure that Lyra Grants can demonstrate to a wide array of audiences the benefits and innovations taking place within the ecosystem.

3. Inspiration: Council members, through their personal involvement and advocacy, can inspire individuals and organizations to contribute to the Lyra ecosystem and demonstrate the products that are possible using decentralized Options.

Test Cases

The Synthetix ambassador program has been very effective at growing its community and ensuring that all community initiatives are discussed and get the attention that they deserve. As such the current Grants Council that acts more passively and can be more effectively deployed to expand the Lyra Protocol.

Copyright

Copyright and related rights waived via CC0.

[AlvaroHK]

In favor to create the Ambassador figure into the DAO.

Question arising is the Grant Council is 3 members, wouldn’t it be convenient to increase the number of members or create a new Ambassador program with similar amount of members?

[MasterMojo]

Thanks Cameron for getting this started!

For Clarification: The current grants duties are laid out here: LEAP-17: Establishing GrantsDAO

They recently expanded duties to reviewing trading referrals.

Going forward the goal is to add additional duties that include similar duties as the Synthetix Ambassadors which is laid out here: SIP-241: KPI based Ambassador Mandate SIP-224: KPI based Ambassador Mandate

Synthetix Ambassadors core focus is three fold - Governance, Integrations, and Marketing.

Would these new duties also include Governance and obtaining Governance Powers representing Lyra?

How many members would be needed for the new duties? 5? 6?

How long should the term be? Based on my experience in the past, I think these type of positions should have longer term in their epoch. My suggestion is a year. If any problems arise, the council can take care of it internally and elect a new person if everyone agrees that one person is a problem.

What should the compensation be? The current stipend is laid out here: LEAP-41: Reduce GrantsDAO Incentives From Next Epoch I think the stipend should be increased. For reference; Synthetix offers 2k SNX each month for duties. Does the team/CCs have any suggestions for compensation?

[mjs]

What are the specific requests of this proposal? Is there funding or another action required to be taken by governance?

[Hunter]

In 100% support with the proposal, the Grants council currently has limited functionalities and roles and instead of creating another council for a specific purpose, the grants council could be utilised for the ambassador activities. As Master Mojo pointed out and after close personal observation as well, the Synthetix Ambassador program has truly been a success across all metrics.

I believe 5-6 Ambassadors across multiple skillsets such as

Technical expert
Content Marketing/ Social media marketing
Content creation (video, animation, graphic design, or copywriting)
Crypto options trader
Community management
Or someone with an Active presence on twitter in the Defi space

These are specific skillsets which we should look out for for the next election of the Grants council/ Ambassadors.

On timeline I agree with longer term in epochs and 6months- 1 year should be an appropriate tenure.

[ksett]

this is a great proposal, agree with most of the comments that some specification is needed though. I personally prefer a 4-month term, keeps people on their toes and allows a natural rotation as some members become less active or get pulled in other directions in life while others remain active and maintain their roles long-term.

[Ethboi]

I’m for this proposal. I also think 1 year is too long a term. 4 or 6 months is better commitment.

[Alpha-Cen]

This Lyra Ambassadors upgrade seems like a natural way for Lyra to level up at a critical pivot point. Long-term, it’ll probably end up a necessary tool in the fray vs the outreach & community infrastructure we’ll face as Lyra climbs through the big leagues. Our voice needs to be audible; our people need to be part of the conversation. Lyra grew up in the orbit of Synthetix, the biggest name on Optimism sans Velodrome, with a community that’s had a lot more time to grow, so I agree with Mojo that their Ambassadors framework is at least a good starting point for Lyra to tailor-fit our own needs & principles to over the first few terms.

Based on that and the slate of good ideas offered here so far, to get this across the finish line here’s a few points where I think most of us generally agree with a few extra thoughts peppered in:

• Size: 6 members

︎ Rationale: We need to expand this group to get more done, and I think we have the interest from a large enough pool of talent to double our current efforts. In the future, we could expand this further as key performance indicators continue to be surpassed.

• Term: 6 months

︎ Rationale: I see the benefits of both long and short term limits. You don’t want to risk getting stuck with an Ambassador who’s moved on or turned out to be a poor choice mid-service, but you also want to give visions for ideas time to ship. Based on my own experience on Grants Council, I think twice the quarterly period we have so far is a realistic unit of time to implement a round of ideas and actions for tokenholders to grade with their vote. A year for the community should be two steps forward.

• Mission Statement: To be the driving force behind governance activity, content production, intra/inter-DAO discussion, and value-aligned integration; a steady pacemaker that keeps the pulse of the community on the marathon of growth.

• Focus Area Distribution: General vote for 6 seats, decide focus areas in the first meeting. I suggest adding 1-3 open deputy seats per Ambassador focus area for future elections, which would offer less time-intensive work for a lower rate of rewards than an Ambassador seat, but would offer 6-18 further avenues for the community to get involved and give each Ambassador the ability to delegate tasks to lieutenants + benefit from their insights. Focus areas could be along the lines of:

︎ Technical Ambassador
○ Programming background; interpreter of code; brings the developers’ perspective

︎ Community Ambassador
○ Active community member; spearheads events like Twitter Spaces, internal/external DAO discussions, and public goods initiatives; brings the community’s perspective

︎ Partnership Ambassador
○ Broad awareness of DeFi surroundings; leads integration efforts with other projects; brings the industry’s perspective

︎ Marketing Ambassador
○ Strong marketing skillset; directs engagement initiatives to raise awareness about the protocol and amplify its content; brings the advocate’s perspective

︎ Market Ambassador
○ Strong knowledge of options trading & market analysis; leads written/visual content efforts about options and the protocol; brings the trader’s perspective

︎ Governance Ambassador
○ Strong history/proficiency with LEAPs; interpreter of governance procedure to ensure the Ambassadors provide a steady stream of proposals that improve the protocol and set a gold standard for others; brings the DAO’s perspective

• Key Performance Indicators: Qty of LEAPs proposed, events scheduled, content produced, & integrations secured. Growth per period of KPIs should be tracked to allow voters regular criteria to make an informed decision about whether changes should be made/new seats should be added each period.

• Governance Powers: I see the argument on both sides. My intuition is to be consistent with our decision to disband the general, 5-person Lyra Council, which had broad powers, and pause before we offer new distinct authorities to a new group of a few people. I think it’s also smart to recognize if Lyra Ambassadors grow their governance proposal output to lead the community on # of LEAPs, they’ll earn an effective boost in governance power from those efforts alone. That said, I’d still support certain classes of low-consequence, redundant votes being delegated to the Ambassadors if we did want the new group to take on some narrow governance role to ease the burden on tokenholders.

While this is mostly ported from Synthetix, I think it’s a fair starting point for Lyra to gradually personalize and adapt as our ecosystem expands. Let’s nail down the official framework, authorize through a LEAP, hold an election for the Lyra Ambassadors, and unleash this upgrade to pair with v2! Further additions/changes/considerations?

[Cameron]

I think this sort of framing is excellent. The only potential concern that I have is the possible restriction that this could impose on individual ambassadors, however, this is a minor concern.

Going forward I think this LRFC needs to be amended to specify that a snapshot vote is only a formality to gauge community support for a particular group of individuals. The actual transfer of funds will require an on-chain vote to a multi sig controlled by these individuals. With further funds requiring a follow-up on chain vote.

However, a snapshot vote for this LRFC will most likely be required to ensure that the community is on board with this new direction. Also, a stipends specification is also required to outline how much each ambassador should receive.

ill add a follow up amended version here.

[Irwan76]

The projek is good you must can made actualy easely user frendly get aplication in transaksi to doo lyra finance

[MasterMojo]

Any update on this? Let me know what I can help with!

[AlvaroHK]

Time to update this. If I remember correctly, Grants Council term finished almost 1 month ago and no extension/new term has been agreed.

https://leaps.lyra.finance/leaps/leap-28/
Grants DAO Election Cycle = 4 calendar Months

https://snapshot.org/#/lyra.eth/proposal/0x0e3f772dc2dd214128a5e8094c4d16b7e9959973cd1f284ab8422da13a309076

[Adil15]

Nice project lyra is the great project I like lyra