Furthering Growth in 2021

The year 2020 has been focused on bootstrapping the initial community and building the infrastructure necessary to tokenize wealth creation.

The 2021 focus is growth, as defined in these three goals:

  • Total Value Lockes: 10x increase TVL in the protocol
  • Integrations: Pies have to be 2 clicks aways from major tools and distribution venues.
  • A Pie in every active DeFi wallet.

TVL

While considered by many not-to-be the best metric out there, TVL is widely recognized as the easiest to understand metric to track a protocol success.

The main activities to exponentially increase TVL are the following:

  1. Have the best yield opportunity.
  2. Engage with liquidity partner.
  3. Create better incentives.

Point 1) it’s easy to understand, the better the yield generated by the product the more compelling is to use it.

Point 2) is about identifying and create partership with key liquidity providers in the industry.

ie: Top 10 largest CDP holders, Top liquidity providers in Compound, Framework, Hashed, Spartans, Three arrow capital, etc.

Point 3) is connected to the two above, only an effective product will benefit from liquidity incentives. It is clear that a reform on liquidity incentives has to happen as currently it’s not giving the desired outcome ever with large amount of DOUGH being used.

Key resources needed

  • [ ] Stategist/Dev
  • [ ] Business Developers

Integrations & Distributions venues

PieDAO products have to be available on widely used products and protocols in the DeFi Ecosystem. The definition of done for an integration should include every single pie, correctly listed with icons, description and price feed.

Wallets

  • [ ] Rainbow
  • [ ] Dharma, see pr
  • [ ] Trust
  • [ ] imToken
  • [ ] Coinbase Wallet

Aggregators

  • [ ] 1inch
  • [ ] Paraswap
  • [ ] Zapper

Lending protocols

  • [ ] AAVE
  • [ ] Compound
  • [ ] Cream
  • [ ] Bentoobox

Options protocols

  • [ ] Opyn
  • [ ] Hegic

Dexes

  • [ ] Matcha
  • [ ] Uniswap
  • [X] Sushiswap
  • [X] Balancer
  • [ ] DODO

CEXes

  • [ ] Binance
  • [ ] Coinbase
  • [ ] Kraken
  • [ ] Gate io
  • [ ] MCX

Tools and Dashboards

  • [ ] Defipulse
  • [ ] Defillma
  • [ ] Coingecko
  • [ ] Etherscan

Key resources needed

  • [ ] Technical Support
  • [ ] Business Developer

A Pie in every active DeFi wallet.

This point is voluntarely ambitious, as it should be. To move this goals forward it is mandatory that integrations happens quickly.

Getting pies in the hands of people requires coordinated efforts between removing point of friction and education on why people should care about owning pies (see the education section).

The number 1 point of friction to solve is the insufficient liquidity on Uniswap, deep liquidity on Uni will also facilitate users of Argent, Dharma, Raindow, Zerion and more to be able to use pies with familiar tools. Future incentives should be designed for it.

14 Likes

Is it possible to have an easy way to transfer BPT to Uni LP when the time comes for the incentives to change? I know I’ll need to supply more ETH but if there’s a baking option that would be great. It would help kickstart liquidity there.

One of the most appealing aspects of our various pies, especially for the small investors is the oven & its ability to reduce gas fees. Integrate these into all our partnerships where possible

1 Like

Zapper is showing my Sushiswap LP, thanks for that integration!

Hey all!

I’ve recently joined the PieDAO community - super excited by the mission & applaud the execution I’ve seen to date. Look forward to helping out in growing the community further!

I’d like to propose a further process improvement, adding to the 2021 objectives published by @alexintosh.

The community seems to continuously make great proposals on marketing, growth, and product. To systematise them further, I suggest using the OKR (Objectives & Key Results) framework - a goal setting framework that has proven to be highly successful in organisation management.

OKRs can help align activity towards specific measurable goals set each quarter, and organise the contributions of every individual community member towards those organisation-wide goals.

Quarterly revision can help break down ambitious goals into bite-sized pieces, and also re-evaluate success & adjust course, if necessary.

I propose the following approach:

  1. Each quarter we can publish a set of OKRs with clearly defined metrics of success. Each OKR will be assigned a $DOUGH value (like a bounty), based on its relative priority in the overall plan. Building on the targets already proposed by @alexintosh, example below:

    Objective: Remove friction and achieve wider distribution of PIEs to DeFi users.

    Key Result 1: Form 10 distribution partnerships with core targets on the list (3000 $DOUGH)

    (P.S. this is just an example, specific OKRs, target numbers, and value assigned can be published with input from the core team.)

  2. Each individual contributor can define personal OKRs that serve to further the subset of the organisation-wise objectives. They can publish their OKRs in the comments to the OKR post. This can help avoid the crossing of efforts and a better, more organised distribution of work.

  3. At the end of each quarter the OKRs will be evaluated against the pre-defined metrics. Successful completion of OKRs by individual community members will then be remunerated based on the % of completion, and the $DOUGH value assigned to the objective, e.g.:

    10/10 distribution partnerships have been achieved, carried out by:

    CONTRIBUTOR1: 30% - receives 900 $DOUGH

    CONTRIBUTOR2: 70% - received 2100 $DOUGH

Some resources that might be useful to understand the OKR framework better:

https://firstround.com/review/How-to-Make-OKRs-Actually-Work-at-Your-Startup/

https://medium.com/@mittal/how-to-implement-okrs-at-a-startup-2e8d91292f62

(Bear in mind, these have been originally designed for centralised teams, not community-driven projects, so this suggestion is an adaptation of the best parts of the framework to a decentralised approach!)

7 Likes

Hey @anastasiyabelyaeva, welcome to the community, exciting to have you here!

Personally I think OKRs is a good framework which provides clarity across organization, as you said it’s been very well tested in centralised structures in the past.

How do you see it happen from an operational prospective?
I believe in encouraging anyone to make their own personal OKRs to further the growth of the organization but how would those be evaluated on a quarterly basis?
Does the entire community evaluates each one of those or there is an elected committee for instance?

Lastly, how to make sure anybody is on the same page and not overlapping, maybe a by-weekly dedicate call could help?

3 Likes