We’ve been having some discussions on how to reinvigorate the tulip swarm, and realign it with the greater 1Hive community.
Some discussions has gone into upgrading the compensation stack : Tulip Swarm Compensation Stack Upgrade
Lots of discussions have transpired about potential partnerships with other communities, projects or features for Honeyswap and Comb farms. Do we implement an interface contract between HoneySwap and Curve’s registry contracts? Do we build a dual-rewards contract for Comb NFT stakers to disperse FOX rewards for what appears to be a likely partnership brewing with ShapeShift? Do we implement Gelato bots for limit and stop orders for HoneySwap?
We need to get really clear about the intentions and goals of the platform - if we can have any kind of cohesion that will lead to consensus. Here’s a copy of a messages that I posted in the reinvigorating-tulip thread in our Tulip Swarm discord:
1.) Clear goals need to be established for 1Hive and swarms. These goals need to come with ideal final results and key performance indicators. Metrics are actually how we tell if what we’re doing is working or not!
2.) The compensation debate has prompted a chicken and the egg scenario. What comes first? The chicken and the egg dilemma needs to get solved. If you don’t emit HNY to contributors to increase the platform’s value, for fear of the price of HNY dropping, then contributors don’t build value. The value of the token will be driven by value creation of the contributors. No contributors - no value add.
( It’s 2:30 in the morning here - I have contributed to 1Hive 7 more hours; including working with the Shapeshift community and I am completely uncertain if I will be compensated for any of this =-D )
3.) With clear goals in mind, we need clear measurable metrics for project milestones. These include clearly measurable key performance indicators and ideal final results.
4.) The treasury being wholly denominated in HNY is creating an issue where the platform is overly beholden to market forces. Holding interest bearing stablecoins could be a good to diversify the treasury. We need to stop being dominated by market forces and profit seeking.
5.) I hate minime tokens. It sounds like we are having problems with the actual HNY token - potentially from the fact that they’re not a standard ERC-20 token. Luckily gas fees are really really low because the minime token is incredibly inefficient.
6.) I think it’s time to make some tweaks to organizational structure based on all of the learning and experience that has happened. What is working? What isn’t working? What are some promising new modalities for organization and task execution?
7.) I think we should move towards platform owned liquidity for HNY; something like OlympusDAO’s bonding mechanism (not their ridiculous APY staking though ). This would also help with #4.
8.) Comb needs new utility and possibly a liquidity injection. NFT mining (Like MEME or Unifty), HoneySwap fees, governance are all options.
9.) If the goal is to be more capital efficient in terms of the labor / finished product generated through HNY disbursement - we could make an outSwarm. A swarm that outsources value creation. I know there’s been some discussion about the differences between compensation for people in different parts of the world. Some people think that we should set compensation high so that we can attract really value-add people. Some people think that we can attract skilled developers from low cost of living countries.
If we attract developers from low-cost-of-living countries into the Hive - they can still pretty easily transition from 1Hive into a better paying role. This is because the culture of 1Hive will naturally expose them both to other communities, and actors within those communities that are willing to be competitive in terms of compensation. In that context it makes much more sense if we are trying to get high-value low-wage contribution to actually outsource work/bounties.
10.) If the goal is to increase the price of HNY - we can simply launch marketing campaigns with a targeted ROI. Whether we utilize influencer marketing, or targeted marketing - it shouldn’t be that hard to achieve a positive ROI. Again if we don’t have marketing talent in-house this can be outsourced.
The success of 1Hive is starting to feel like a ownerless problem. No one person really accepts the full responsibility of our success or failure. The people with the largest stake in our success or failure are probably the least willing to invest their time, and most willing to dump if we don’t acquiesce to their input.