[DRC] dYdX Short-Term Boost Program (STBP)

Proposals
41

Thank you for your perspective. However, I believe the new Grants Program deserves a fair chance for several reasons:

  1. Transparency and Evidence: There seems to be a lack of projects funded by DEP, especially in areas like Trader-Specific Tooling and Governance and Security Research for v4. Without any examples of past successes, it’s difficult to see the overlap.

  2. Innovation and Competition: Introducing a new program isn’t about undermining DEP but adding value to the dYdX ecosystem through fresh ideas and efficient execution. Competition drives improvement.

  3. Test Phase: The proposed program is a test. It’s designed to assess potential benefits with minimal risk. Dismissing it before seeing its outcomes overlooks the possibility of discovering more effective or cost-efficient ways to support our community.

  4. Cost and Efficiency: Concerns about costs are valid but should be weighed against the need for innovation and improved engagement. A test run allows us to evaluate the program’s efficiency directly.

Let’s keep an open mind. The goal is to enhance the dYdX platform and community, not to maintain the status quo without exploring potential improvements.

2 Likes
42

First, thanks for chiming in. Let’s zoom out briefly:

Why do DAOs have grant programs?

Most grant programs that we see use the tokens set aside for community development to grow and nurture an active community, which keeps a project alive and thriving.

We proposed the STBP to fund a second, complementary way to allow potential grantees to apply and get funded. We will use the power of our analytics to ensure transparency and have designed a community-centric program that is very different from the DEP in how it works.

We think the DGP was a smashing success and are proud to work alongside and in close cooperation with the recently funded DEP.

The two grant programs will have a strong synergy because the DEP and the STBP will be attractive to different sorts of applicants. DEP and STBP council members have different networks to tap for applicants. Having two projects out in the market will create a lot of excitement about the potential opportunities and attract vastly more builders than one program alone.

Regarding the operational budget: It is half of the DEP, and for six instead of twenty-four months. So the total cost to the dYdX community is an eighth, with 12,000 per month going to three experts, further empowering the community and decentralizing decision-making power. This decentralization is a clearly stated goal of the dYdX Foundation.

Two grant programs instead of one will also help further this goal.

Most important is the fact, that the vast majority of the funds requested are for grantees. These are the builders, the instigators, the nerds, the researchers, and the hustlers that make an ecosystem great.

StableLab’s work in the Arbitrum LTIPP, STIP, and SAFE OBRA programs has garnered universal acclaim. Currently, many protocols reach out to us to inquire about similar initiatives, because they deliver growth to an ecosystem.

We’d be delighted to work for the dYdX community to further decentralization, set a shining example of transparency, and empower the community with more decision-making power than ever before.

If this is something we can all get behind, we’re ready to deliver.

6 Likes
43

You guys honestly sound brilliant! You have the right ideas and attitude. I am pretty sure I speak on behalf of the OG community members when I say we have been waiting to see something like this for a looooong time.

4 Likes
44

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I’m sharing an issue that was yet again just reported in today’s Discord grants thread to aid validators in making an informed decision regarding this proposal. The problem highlights a pattern where contributors and applicants need to chase the team from the current program for simple things like updates on their applications, an issue that has persisted for years. Despite the compensation involved, timely responses remains a challenge, undermining transparency and efficiency. This situation is just one example that underscores the need for the proposed program, promising improved response times and transparency in the process.

3 Likes
45

Strong Support for the dYdX STBP

This proposal offers a focused approach to drive growth, improve trader tooling, and bolster dYdX Chain’s governance and security. I particularly like:

  • Community Focus: Empowering the community to direct funding aligns with decentralized principles.
  • Expert Council: Brings knowledge and oversight to ensure the program delivers results.
  • Data-Driven Insights: StableLab’s analytics will be vital for informed decision-making.
5 Likes
46

For context, this person’s application had been addressed and rejected prior to this discord message being sent (we selected another party for this RFP already).

They just hadn’t seen their rejection email prior to sending that message. The application was addressed in a timely manner as was stated in the AI answer to his question in discord :slight_smile:

3 Likes
47

Amazing to see the coordination already working openly and transparently.
This is how we envision syncing with the DEP going forward, too.

We were also pleasantly surprised to hear that the Foundation wants to seek partners who can help put parts of the community funds to use and help the ecosystem grow.

Our supplementary STBP program aims to do exactly that.

The risk of overlap and duplicate spending is small because our network is vastly different from that of the DEP, and all our applications are open.

We really see the STBP as simply a second complementary grants program.
Both the DEP and the STBP can coexist and - more importantly - synergize to create momentum and growth for dYdX.

2 Likes
48

Agree, community will approve the spending so if community thinks its not overlap its not overlap its additional grantee/contributor in a particular area thats needed

1 Like
49

Also agree and in full support. And rightly pointed out that the foundation wants to see the funds being used for exactly this sort of thing. We encourage the community to get behind this.

@RoboMcGobo, that explanation is a stretch. Everyone knows that AI response was generic and didn’t reflect actual timing. Claiming the applicant missed their rejection email for over a week is hard to believe, especially with everyone’s complaints about slow responses. It seems like you’re underestimating the community’s ability to see through this. We all know how long it really takes to get a reply from your team.

1 Like
51

I have been following the StableLab team for a long time, and their track record of excellence and performance speaks for itself. I have also had the pleasure of working closely with some of their team, and I can vouch that they will be a great value-add to the dYdX ecosystem.

3 Likes
52

Did you consult with the EDP to establish these are areas whereby they need support? I feel like a lot of these debates on forums could be done away with if people literally just talked to each other first.

3 Likes
53

Funding legal research to me sounds like another way to flush money down the drain and justify that legal stuff is costly. You want to fund legal research about what? Fundamental research about what? This entire section is super vague.

2 Likes
54

What do you mean “talked with each other first”?. StableLab was always open for collaboration with DEP. We all were asking publicly about Reverie’s feedback. Only Robo said few words about “overlap”. I am as potential council have no problem communicating with existing program to avoid double spending and overlap in some areas.

3 Likes
55

I quoted the bit that I was asking about, and my question is directed at StableLab. I am asking if the areas they have identified as needing support are areas that the DEP has asked for support with.

2 Likes
56

Hey Winfred, good questions all. We answered most of that in the follow up thread.

The dYdX Short-Term Boost Program Timeline - Governance/DAO Discussions - dYdX Community Forum - Governance, Proposals, and Chain Discussions

To recap:
The STBP has some overlap with the DEP, given the broad nature of DEP, but it is fundamentally different in how it operates.

Grants programs are not zero-sum but actually synergize. Two grant programs will attract way more than each one on its own.
We have seen that in Arbitrum and other DAOs. It creates more opportunities, naturally attracting more applicants for the STBP and the DEP.

Think about a street with one great restaurant versus a square with multiple great places to eat and drink. The street will be mostly empty, the square will be a thriving hub of a city.

StableLab has no say over which applications get funded.
The council can screen out bad and malicious applications and have to give a reason for doing so.
And the community decides on all applications.

We’re just operating and ensuring all Is are dotted and all Ts are crossed, plus lending our analytical microscope to the community to make sure all funds get used well.

Speaking of legal research:

This would merit some funding, soon… But this is just my opinion, and like I said, StableLab has no say what gets funded.

All power to the community.

4 Likes
57

Amen. This is how it is supposed to be.

5 Likes
58

Awesome, a interesting program

59

Sadly already voted down…

60

none of this stuff has had any impact on the only metric that matters, which is user growth.

1 Like