This proposal asks to establish the Panda Product Pod as a localized product pod for the Gro DAO. This proposal will be open for comments over the next 3 days. If no substantial changes are required, it will then be open for voting for another 5 days. In case this version of the proposal is rejected, we’ll collaborate with the community on both discord/forum to collect feedback and adjust the proposal accordingly.
I propose forming the Panda Product Pod as a way to streamline DAO product development. As previous participants in the Groda product pod, we believe that creating more localized product pods will better achieve the DAO’s mission to enable more people to participate in DeFi.
The Panda Product Pod’s objectives are to:
- Create, open-source, and maintain reusable building block modules that can be utilized by Gro and others in the ecosystem to build better dApp experiences
Specifically, the pod has 3 main areas where it believes that it can create meaningful differentiation for the Gro DAO and attract more usage: Cross chain liquidity, strategy creation, and data aggregation
Accordingly, the Panda Product Pod will:
- launch a Deposit Relayer that allows users to deposit assets on a chain with cheaper gas fees and have those assets bridged to Ethereum to be utilized by the Gro Protocol and other future products released by DAO contributors. This enables smaller capital contributions and a wider user base for Gro.
- explore strategies that enable Gro to access cross-chain yield opportunities, enabling users to deposit into a Gro vault on any chain and generate yield from multiple other chains.
- Create and maintain additional vault strategies on Ethereum for Gro. The strategies used to generate yield for Gro have remained stagnant for some time. Adding additional strategies can increase yields and diversify risks, thereby increasing interest in the protocol.
- Explore the DAO’s interest in creating open source modules that allow protocols to gather and utilize on-chain data more effectively. Some examples here include getting granular position data, supporting debt/collateral data and generating alerts against liquidations, multi-node infrastructure, and yield opportunity crawler (to find and monitor more strategies that can be incorporated into the vault strategies). Much of these tools could be utilized by the Risk pod to better conduct risk management.
This proposal would have the Groda pod maintain focus on G^2 version of the protocol during UTC+0 working hours, while enabling a separate stream of product innovation during UTC+8 hours with the new Panda Product Pod.
Following the framework suggested in this post, the Panda Product Pod will include individual contributors alike who participate in engineering, product design, and product management. It would include existing contributors who work on both a full-time and part-time basis.
6 contributors would form the initial Panda Product Pod:
- BL (backend & smart contracts)
- Smart Contract development for Gro
- Smart contract and backend development for Huma and Tokenpad
- 15+ years of leading complex engineering projects e.g. built adtech data platform that processed 5 PB/month
- LH (backend)
- Backend Systems for Gro
- Backend for Havefund, a Zero Knowledge Lending protocol
- Built automation systems for systems that processed $500M/yr
- WW (backend)
- Smart Contract Developer for Gro
- Wrote smart contracts for Havefund
- Advised on automated systems and tooling for Rain, a web3 corporate card startup
- Kwww (product manager)
- Worked on the original Gro risk and tranching mechanics
- Researched and developed DeFi yield strategies for Gro and Capstack
- Previous experience in both fintech and quantitative finance
- VW (fullstack)
- Build the backend for Tokenpad: DeFi protocol data processing, integration with on-chain data sources, wallet management
- YQ (designer)
- Main designer for Tokenpad and Upmarket
The contributors have experience building products and tooling across multiple DeFi protocols on multiple chains (Ethereum, Avalanche, Polygon, Optimism, and Arbitrum) and will utilize their collective experiences to lower the barrier to utilizing the Gro protocol.
The Panda Product Pod expects to collaborate with the Groda Product Pod on an opportunistic basis to share ideas that may be relevant to each others’ work. The expectation however is that each individual product pod is tasked with launching their own products.
The contributors also expect to work with the Risk Pod to evaluate and adjust strategies as needed prior to and post-deployment. As more strategies are added, the Risk Pod’s role in activating and deactivating strategies will become more pivotal to ensure sufficiently attractive yield and risk protection.
For the next 6 months, I propose a budget of 270,000 USDC + 150,000 GRO that will be transferred to the Panda Product Pod operational wallet if approved. The operational wallet will be a 3-of-5 multisig wallet with 2 Panda Product Pod, 3 People Pod contributors
- Full-time contributors: 218,000 USDC + 150,000 GRO over 6 months
- Part-time contributors: up to 52,000 USDC over 6 months (as needed)
- This covers the contributors named above and includes the facilitator compensation. Victor and Yan are expected to be part-time contributors on an as needed basis since most of the proposed mandate focuses on tooling that does not require UI and front-end engineering work
- Audit services: 30,000 USDC over 6 months, any unused to be returned to Treasury
Only the audit services spending of 30,000 USDC would be up to the discretion of the Panda Product Pod signer. This spending is only expected to occur after the completion and integration of the Deposit Relayer.
The full-time contributor cost will require at least 1 signer from the People Pod for payment – this cost should by default be paid out unless the pod acts maliciously, goes missing, or otherwise goes off-path.
Its address and signers will be published once set up for transparency.
Actual spend will be reconciled with the budget at the end of the 6-month period i.e. end of July 2023. Any unspent budget will be returned to the DAO treasury after the reconciliation.
Since we are splitting part of the current Groda Product Pod out to form this new product pod, we would expect that the Groda Product Pod’s expenditures will not fully reach the 486,000 USDC allocated for the 6 month period ending March 2023 outlined in vote 20.
Panda Product Pod will update the DAO on its progress regularly through the community channels such as Community Forum, Discord, and Telegram.
In addition, there will be a quarterly report to summarize progress achieved and high-level plans for the next 3 months on the Community Forum. The second quarterly progress report will coincide with the 6-monthly budget report outlining actual spend and proposing budget for the next 6 months.