2022 July Onsite: Summer Sprint
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2022 July Onsite: Summer Sprint

Top Agenda: NFT Products, Fiat Onboarding, User Analytics.

Schedule - Market-Product-Team Fit - Potential Partners - Attendees

Team Discussions – Reading

Schedule

7/11 Monday: Palo Alto office

7/12 Tuesday: Palo Alto office

  • 12PM: Top agenda and market-product-team fit
  • 1PM: July deliverables review by guilds
  • 4PM: Team exercise and 1-1s at the park
  • 6PM: Sandwiches dinner and AMA on sprint initiatives

7/13 Wednesday

7/14 Thursday

7/15 Friday

7/16 Saturday (optional)

NFT: Market-Product-Team Fit 🎽

In this Q3 and Q4 the team needs a single focus and going deep, rather than spreading thin. Potentially Sahil and Eric will closely collaborate with us on NFT; Richard and Sammy have vertical-specific partnership experience; Brian and Jack can drive all internal initiatives toward NFT-related campaigns and products.

Our Q3/Q4 Thesis on NFT:

  • Market: We know from extensive research (essential reading) that the NFT market has traction with billions in value and potential for mass consumer appeal with hundreds of millions of fans and users. “Finding product market fit = focusing on the market first” – meaning, 15% monthly growth rate.
  • Product: We have a product (platform) that offers fast and affordable minting, trading, and mass distribution of NFTs to millions of users. “The only thing that matters is getting to product/market fit.”
  • Team: Can we align our team efforts to build out a thriving ecosystem of NFT minting projects, social token launch platforms, trading marketplaces, collector DAOs, derivatives and avatars with high liquidity, volume, and users?

🪘Market-Product-Team Fit with Utility NFT for Creator Economy

Potential Partners

  • Coinbase Cloud, Dune Analytics, Nansen, Token Terminal

Attendees

All international fellows are invited; select contributors are invited every three months.

Eng Team

Q3 Budget

6️⃣ June Budget

  • Treasury ($171M total, as of 5/16) 🎽: 2.61B total (1.70B unlocked + 0.92B locked) ONE tokens ($130M), $6.72M USDT + $2.93M USDC + $688K USD, $1.11M DeFi assets, $2.13M NFT assets, $1.22M on liquidity pools, 9.27M shares of GameFi assets ($26.0M), $6.04M exchange marketing budget (104M ONEs + 2.80K tokens).
    • Our projected spending this month is >$1.58M; as of 5/16, our treasury holds $171M total with $10.5M cash.
    • Expected by 7/1: $25M cash if more GameFi shares are liquidated ($12M otherwise), 1.50B unlocked tokens ($60M at $0.04 ONE price).
  • Total Q3 Spending: $5M cash + $10M 6-month vesting tokens (unlocked by 2023 Jan 1st)
    • 60% = $3M NFT Product & Partners (Giv): Games (3 $50k licenses), Launch campaigns (1MusicDAO, land sales at DeFira / Evoverse / …)
    • 20% = $1M Dev Ops & Services (Leo): Cloud cost, Data Partners (target: Coinbase, Dune, Nansen)
    • 10% = $500K Bridges, Protocols, ZKProofs (Ganesha): Horizon campaigns (stETH ETH2 staking deposits), 1BTC (lending), zkU, ResearchDAO (Common Prefix, Stanford Blockchain Week Visit)
    • 10% = $500K Dev & Community Growths (Jack): Communication, Content, Event (1Conf deposits), Blu3 (_ Hackathons)

Meetings on Wednesdays

  • 11am: Dev Growth: Only Stephen, Ganesha, Jack
  • 12pm: Admin: Only Stephen, Li, Giv
  • 1pm: Eng Meeting (Conf Room) by Rongjian, Leo, Ganesha, Jack
    • 1pm: Partners: Only Stephen, Giv, Brian/Richard
  • 2pm: Biz Meeting (Conf Room) by Li, Giv, Jack, Brian
    • 2pm: Hiring: Only Stephen, Rongjian/Leo, Tom
  • 5pm: Two 15-minute Team Tech/Product Talks at TGI, organized by Tom, Li
  • 5:30pm: Products: Only Stephen, Giv, Zi/Sahil

Guilds for Focus & Traction ☁️

The only thing that matters in a Day ONE startup is getting to product/market fit.

As a team we must focus on market opportunities with traction now, build products with partners to serve that market, and focus our team efforts towards Market-Product-Team fit.

The proposed guilds below are the focus areas and deliverables with the goal to drive utility to Harmony now.

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Guild Responsibilities
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Guilds Q&A

27.5 Technical

36 Business

July Action Items

  • Tokens for 1BTC, ETH Bridges
  • Product onboarding: 1Wallet
  • Spot bonus from /7 /8 /9 to replace /q3 peer and manager bonus.

Essential Reading

By now, it should be clear that inflationary mechanisms like play-to-earn are economically unsustainable.
Things get interesting when you consider novel mechanics that can only be accomplished by smart contracts.
The prospect of running a full client from within a wallet or dapp has huge implications, not only for the health of the network but also for decentralization and privacy as it reduces reliance on the centralized infrastructure that most wallets currently use to access Ethereum data.
Essentially, for the first time, the overall stablecoin supply fell across the month and is down 15%.
A healthy ecosystem following a price correction is characterized by leverage reductions, ample stablecoin liquidity, and active users.
Thus, the user base remained relatively healthy, despite the overall decrease in DeFi liquidity.
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Cryptoeconomics not only combines cryptography and economics to produce new methods of communication, cooperation, and organization; but, the authors argue, it might also “bring the invisible hand to computation”.
A free-to-play-to-earn (F2P2E) gaming model might suit crypto games better than the pay-to-play-to-earn (P2P2E) model.
Thought experiment 1: can the stablecoin, even in theory, safely "wind down" to zero users?
Thought experiment 2: what happens if you try to peg the stablecoin to an index that goes up 20% per year?
Instead, while we certainly should hope for growth, we should evaluate how safe systems are by looking at their steady state, and even the pessimistic state of how they would fare under extreme conditions and ultimately whether or not they can safely wind down.
… such deep algebraic tools actually making it into practice,” said Dan Boneh of Stanford University.
“By adding interaction and using a lot of the same math that was ported over from PCP technology, you get practical stuff,” said Eli Ben-Sasson, a computer scientist who left the Technion in Haifa, Israel, to start the company StarkWare.
The following analysis raises the possibility of “wrapping” an entire DAO as a single UNA or “siloing” DAO activity between the treasury and the protocol, with the treasury being “wrapped” in an UNA and the protocol remaining regimeless or “wrapped” in a variety of possible entities, determined by the facts and circumstances of a particular DAO.2 This would bring all activities related to the treasury (e.g., grant programs, DAO funded development work, staking/liquidity mining programs, treasury diversification, etc.) under the treasury UNA, whereas the separate activity relating to the protocol (e.g., protocol smart contract modifications, decisions relating to protocol fees, etc.) would fall under the separate and distinct protocol structure. In either case, the proposed structures prioritize trustless and on-chain transactions, while mitigating the risks of regimeless and offshored structures.

Team Discussions

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Li: Building a Franchise