Rarible DAO Staking + Delegation Roadmap

This article outlines some of the proposed next steps for our staking / delegation strategy. Looking forward to hearing from the community on this!

Desired end state

  • A large number of high QUALITY contributors that work in a PERMISSIONLESS and OPEN environment that is ACCESSIBLE and SIMPLE to outside folks
  • that make GREAT DECISIONS on proposals
  • that are EMPOWERED via vote delegation
  • that co-OWN the network they help build

Overall Process

  • Multisig members are key token holders who execute proposals according to Delegate / Stewards wishes. Note, there will be a “Multisig Signers Agreement” which gives limitations on what Multisig holders can / can’t do…to prevent colluding and things like this.
  • THIS IS A TEMPORARY PROCESS… hopefully we move to a fully decentralized DAO soon, without a Multisig.
  • Delegation to Stewards is done on a quarterly basis via “delegation parties” or something (?). Stewards are expected to present their plan / strategy / program to the token holders. Eventually, we should move to something that looks more like conviction voting.
  • Anyone can submit proposals, and Stewards are responsible for voting. Proposals will still be required to be posted in the Forum and be discussed before being posted in Snapshot. Social consensus will enforce these rules.
  • Staking rewards are only given to stakers who stake on Stewards who are participating in governance.

The group of stewards will be self accountable and be responsible for communicating to the token holders / stakers the effectiveness of delegates / their blind spots / etc., such that token holders can stake on the most productive delegates. Which groups do we need to properly represent in this strategy? Marketing, Bizdev, Comms, Ops, Devs, rarible users… etc.

Next Milestones

Below are a list of near term milestones to execute on this vision:

  1. Rarible.com on the protocol (very soon!!!)
  2. COMMS BLITZ (basically spreading the good word about what our DAO and protocol is doing)
  3. Staking contract and UI complete (handled by rarible.com team)
  4. Multisig Signers Agreement outlining what multisig can and can’t do
  5. DAO mission statement complete
  6. Open call for Stewards!!!
  7. Inaugural Delegation Party

Please share thoughts / feedback below! We are already starting on 1, 2, 3 above, and quickly moving on the other steps of this process. Please share thoughts / feedback on the delegation process as things are still very fluid!

Thanks,
Eric

7 Likes

I wanted to ask this question on the call today but time ran out. Will staked Rari holders need to delegate their voting power or will they be able to vote themselves?

2 Likes

they can definitely choose to delegate to themselves if they want.

3 Likes

It’s showing decline on my profile, how many weeks I have to wait for reappearing of verification button.

2 Likes


Here’s a diagram to help visualize flow / structure :slight_smile:

I’ve been thinking about this some more.

The current approach above is to have a number of delegates or delegate groups requesting to become delegates.

Would it make sense to group many of the contributors in the Rarible DAO into a single delegate? Could this delegate be a DAO? This could look like this:

  • Contributing members in our community would form a DAO
  • We ask for delegate votes as a DAO
  • We could even have our own token / voting power mechanisms
  • Over time, as the group grows, new DAOs / groups could form, and become delegate groups themselves

Why would we do this? Some benefits could include:

  • It would allow the group of contributors to act more independently (for example, the group DAO could request funding, which it could spend more autonomously then asking Rarible DAO for funding). This would allow us to distribute out small amounts of funding to various builders, and offer micro-rewards for contributors.
  • It would allow us (as a group) to give ownership / voting power in this entity super easily. Having ownership is important. In this case, more ownership = more voting power.

It would be very important to commit to creating more groups like this over time, and fractalize such that there is not too much governance centralization resulting from this.

Thoughts?

2 Likes

I believe organizing in this way in the short term makes sense and it gives a strong framework for an organizational structure in the in the future.

This framework doesn’t only make sense from a delegation perspective but also from a treasury management perspective. As far as spending goes, it would give increased visibility into the amount of funding that is going to each facet of the overall DAO. It is much easier to understand the impacts of a lump sum than multiple sums of various amounts.

It would allow working groups to streamline their own processes and not have to wait for an entire community approval to fund initiatives. The members of these working-groups, sub DAOs / committees would also (in theory) be more knowledgeable than the collective which would make the decision makers the right kind of people.

I definitely think this is an idea that we can build upon.

Other items that will be done in parallel, to get us ready to rock (not entirely tied to delegation, more focused on just getting things functioning more smoothly within the dao):
8. Updating Rarible.org to make it open source + having navigation from rarible.com
9. Articles about philosophy, rationale / white paper
10. PR efforts
11. Updates to our token distribution model
12. A more decentralized multisig
13. Finalizing RR2 Phase 2 and implementing RR2 Phase 3 with staking

Combined, we can call this the “Rarible DAO refresh” efforts…

1 Like

when will this get to vote in snapshot?

I don’t think there is anything concrete here to vote on, this was more of an update for the community to see our priorities, etc

3 Likes

hope this will ripe & turn into something for vote & implement soon. Thanks

1 Like