MarcusAurelius thanks for your replies fren.
For (1) speaking as just a KLIMA holder (aiming for network value and climate action maximization), this is the area that concerns me. Not specific against the Core or Stewards, but generally how accountability and incentives alignment are key ingredients for success. I’ve never heard of a startup where the Board or C-Suite is paid from a separate capital bucket. Sometimes it is even the reverse, where founders will pay employees ahead of paying themselves. To be the best steward of the DAO wallet, Core should tie their income to it. We will gain for the DAO wallet whatever the amount is (which no one knows) that was raised for Core via pKLIMA. Combined with contributor cuts, that will already extend the DAO runway to evaluate other fundraising options (non-dilutive NFT sale, dilutive VC raise, temporarily increasing bonding or offset fees, etc.). Over time as KLIMA becomes more valuable with larger volumes, funding the DAO wallet should be less of an issue. Right now is the time when we should be investing in people and initiatives to spin up the flywheel of adoption and network effects.
I also note that no startup has succeeded in the conditions that KlimaDAO will now operate, nor MakerDAO or other earlier generation DAO examples the team gave in the last RfC.
Startups and DeFi 1.0 protocols have doxxed teams, investors, advisors whose reputations are on the line. For a startup, the founders are directly overseen by an independent board with fiduciary obligations and shareholders with clear legal/contractual rights. They are funded progressively based on achieving certain GTM milestones and KPIs. The startup founders/employees are illiquid until success, either an exit or IPO. (And compensation of Board & C-Suite usually are approved by Shareholders & Board.)
KlimaDAO doesn’t have any of that, and I understand pKLIMA can be redeemed based on expanding supply, regardless of network value or product/platform KPIs, and of course is then liquid. And apparently the anon Core can be funded for “years,” so that combined with this KIP-19, has total autonomy. Sure, the Core wants a higher value of KLIMA, but even for KLIMA holders to exercise last resort authority, we’d struggle to pass any KIP without Core / early investors’ support.
Just keep all this in mind that KIP-19 requires huge trust in Core/Council without the normal checks and balances and optimal incentive alignment with which startups / crypto projects normally succeed with. Prudent management of the treasury is a condition of our success, but driving adoption of KLIMA is the necessity. I’d advocate that the DWG go ahead asap so like @Sirob wrote, we can unlock the creativity of the DAO as a network for us to succeed, rather than relying on a flawed startup model for our situation that seems like fitting a square peg in a round hole.
For (2) while individual KPIs are always best (and I hope given the new centralized stucture the DAO would implement them), I think given our new approach DAO-wide KPIs are needed for both the “Product” and “Platform.” There are some natural candidates here, so look forward to what the DAO leadership proposes.
For (3) I had understood from this revised KIP-19 text, each department of contributors collectively (not individually) having their compensation published. Why is the Core excluded from that? Even if Core for now isn’t paid directly from the DAO wallet, they are paid from the pKLIMA fundraise it seems, so that’s coming from the value of the DAO?
For (4) okay with setting qualifications affirmed by the community, ideally so long as they’re not too exclusionary. To make sure we recruit the best of the community, I’d suggest the community DWG members are paid in KLIMA for their work.
Wish you best of luck 🍀 🌳,🌳