2021/12/27 DAO Call - Meeting Minutes

We got pretty in depth with some discussions, listen to the recordings if you want the details. This should give a pretty good idea of the general things discussed on the call. Note this is very unedited / rough so fact check anything that is important to you by asking in the discord or listening to the call.

Agenda: Agenda for Gearbox Community call 27 Dec
Recording: 1st Contributor call.mp4 - Google Drive


  1. LOTS OF things to do in DAO - dev, community management, external outreach to educators etc, biz dev, moderation, newsletter, gov proposals
  2. Introductions
  • We Let people introduce themselves and how they want to help, heres another summary by Ivan: Discord

    • GearNumberless said he wants to help with gear econ
    • Ov3rkoalafied said he wants to help with biz dev, educational outreach, news letter, gov proposals (writing and developing)
    • KalCrypto already doing community management / answering questions, but also enjoys doing the gear econ discussions and wants to participate more officially in that, proposal, etc. Also interested in partnerships - if someone has ideas or if he has ideas, to follow-up on those with other protocols. Already has a few protocols in mind where he is a contributor.
    • rahemanAli - is a founder of an algo trading/dex project, has experience with product solutions, decentralized governance, team of 22 members, marketing, etc, etc so he has a lot of experience with DAO structure. With the algo experience raheman has they can help build more strategies as well as help out with liquidation bots etc. He wants to focus on leverage trading strategies, integrating it into exchange, EVM compatible stuff, etc - wants to contribute in a technical capacity.
    • Sminem the memoor is a teacher in france, already has contributed by making some videos. He’s mostly in crv/cvx ecosystem rn.Wants to make video montages, new memes, funny videos - wants to become the memelord of gearbox.
    • Mich wants to help out with documenting summaries, narrative, community management, and shitposting
    • SaadmanM - been learning solidity the last few months (plus previous experience in coding), has helped a bit with redacted, and would like to join as a solidity dev contributor for gearbox
    • Paulag wants to help with educational outreach
    • Van0k in crypto 5 years - can help with most of the major devs need right now
    • A-fungible pleb wants to talk bout management of allowed contract and token list - people come in here and just want to list their tokens, but we don’t have a system to manage it. Pleb wants to build a structure for this - list we have right now is more like cross-margin, focus on that. Isolated margin list would create permissionless leverage, but for now should focus on cross margin and make a standard operating procedure. Pleb has already started working on this.
    • Affax does full stack and has been doing solidity for a while and got into crypto thru that, college student in finland. Has done a ton of contributions including Badger, SNX, numerous others ie seems like a rock star.
  • Will create a channel for ppl to post their skills/interest in helping out

  • Mikael outlined major dev needs right now, here’s another summary by ivan: Discord

    • Smart contract optimization - mikael believes there are a lot of things that can be simplified like gas consumption and simplifying flow
    • Want to explore liquidations analytics - How well liquidations are working, analyzing liquidations, to know if we need to tweak parameters
    • Current price oracles method isn’t great according to Mikael - want to find ways to upgrade it.
    • Need to build adapters for new integrations
    • Also obviously need front end help
    • Want to build clear and concise dev documentation
  • Mugglesect wants to see a lot more analytics of lenders and borrowers. Also wants to create a referral system.

  • Everyone discussed pleb’s idea (cross and isolated margin) quite in depth and if that’s something gearbox can/should do. - see recording.

  • Definitely need a more defined method to add new tokens and contracts.

  • Discussed DAO coordination tools - people like staying discord native, but can also use github and notion as additional tools.

  • We want an adapter working group to assist mikael. Chimera wants to make sure adapter work is guided by governance. Had more in depth adapter discussion - see recording.

  1. Tokenomics
  • Right now Ivan doesn’t think we need to make it transferable, so no reason to do it until now. If you make it tradeable and there’s no model then it takes scrutiny. Plus if we make it tradeable we get a huge flood of discord folks.
  • Ov3rkoalafied wondered if we need incentivized liquidity
  • Chesire disagrees about transferability cuz we got a lot of early ppl who are just waiting to dump, but also want to attract new owners to bring in new members. But ivan said there needs to be a way to LM to let people get onboard, so still no point until LM
  • Affax mentioned that gear voting turnout is good, lots of contributors, so do we need to attract a bunch more ppl right now?
    • Perhaps partner with other platforms and give them some gear tokens for doing that
  • Chimera mentioned were pre-v1 on transferable. Admitted he wants to dump coz he needs the money but still wants to contribute. But also 100finance gov token has been stabilized cuz it’s needed to vote for things you want (new tokens).
  • Koala challenged if LM is even necessary
  • Transferrable is not a 6 month, 1 year journey - just don’t want to do it today. We’re thinking about weeks / couple months.
  • Chimera discussed an idea of trying out multiple protocols
  • Some more in-depth discussions on tokenomics/ideas, listen to recording
  • (From Ivan) Transferability: need a model first to kick off, and also get a proposal for LM on DEXes maybe. - Grants & GEAR injections: give bags to others to build, of course. - LM for liquidity side pools: can be not direct for LPs, but can be to credit account miners who then in turn bring higher utilization ratio to the LP side and as such higher rates, indirectly - Sharing fee model with protocols using Gearbox, sharing fee with referrals

Great to read the minutes!
Agree on keeping token non-transferable, I don’t mind wait for another few months. So many works need be done. Most ppl got the token for testing/CA mining, not a big financial investment. Tokenomics do need a on-chain vote besides board and sufficient discussion.
Also since token is non transferable yet, LM is not necessary at this time. And we should consider options like partner with ondo/Tokemak/olympus pro etc, or even self designed option-style reward.

Thank you for your recording.
The tokenomic is an essential part of gear eco. I agree that we should build a hierarchy based on amount of $Gear locked.