Roundtable of Dogs Meeting Notes May 10, 2024
Attendees:
- Turtle
- Buzz (non-voting resource)
- Shima (non-voting resource)
- JeffShibacals (visitor-minutes/notes)
- Sentinel
- Archangel
- Morten SH
- My Name is Mudd
- Digarch
- ShibDream
- Seth Shapiro
- DangerShib
Meeting Intro by Buzz
Buzz and Turtle gave a summary of treasury status, budget updates from the last meeting, notable DAO achievements, etc.
1. Proposal to use ApeBond for $200k Liquidity - PROPOSAL DELAYED
22% of Roundtable voted Yes
11% of Roundtable voted No
67% of Roundtable voted for Revisit in future meeting (DELAYED)
Takeaway - Roundtable discussed the opportunity cost of tokens, whether this was the best use of KNINE tokens, and a concern that approving this vote would increase the circulating supply of KNINE at a time where many other tokens are being unlocked due to vesting schedules.
It was agreed that this is potentially a great opportunity, but that since the product is not live yet, the Roundtable felt that this proposal was not a rush, and that another month could be used to get more details around the proposal to see if it could be advantageous enough to issue more tokens into circulation. Considerations the Roundtable wanted to see are: a social media study to see how effective the marketing efforts from Ape Bond would be to growing KNINE holders, a more in depth analysis at past token purchaser behavior in past Ape Bond clients, and to evaluate whether or not a lower fee structure could be negotiated with the Ape Bond proposer.
This proposal was decided that it would be revisited at the next meeting.
2. Treasury Management Proposal - PROPOSAL PASSED
100% of Roundtable voted yes to passing Treasury Management Proposal (PASSED)
0% of Roundtable voted no to passing Treasury Management Proposal
Takeaway - This proposal was very unanimous in favor that the DAO should be investing the treasury according to the parameters that Shima suggested. Shima was present in the meeting to answer questions and explained that this strategy can be adjusted in the future and that right now it is a very risk neutral strategy that has K9 DAO using products similar to its own.
3. Annual KNINE Burn - PROPOSAL MODIFIED + PASSED
33% of Roundtable voted yes to passing Annual KNINE Burn proposal
22% of Roundtable voted no to passing Annual KNINE Burn proposal
60% of Roundtable voted yes, but reduce total amount by 10x KNINE (PASSED)
Takeaway - The Roundtable discussed the importance of their responsibilities on the panel being to protect the DAO treasury to be used to meet the DAO mission statement, which is to bring DeFi to Shibarium. Shima explained that tokens that do not get burned can be used to increase the APY on the K9 DAO BONE Crusher product. The Roundtable questioned how much marketing value could come from this burn, and if it was worth the initial proposed number of tokens. A vote was had to reduce the total number of tokens in the proposal and passed. The burn amount, instead of 4.1 billion, will be 410 million in the vote due to concerns of proper treasury management and the expectation among DAO members to potentially burn the same amount each year.
4. Change Swap / Simple Swap - PROPOSAL DELAYED
33% of Roundtable voted yes to the ChangeSwap/SimpleSwap proposal
22% of Roundtable voted no to the ChangeSwap/SimpleSwap proposal
45% of Roundtable voted Revisit in future meeting to the ChangeSwap/SimpleSwap proposal
Takeaway - Roundtable discussed that requests like this should be put under a proposal that is less tactical and more in line with an integration & exchange budget to be managed by a specific member of the DAO who would be able to do a cost/benefit analysis on whether or not this would be a profitable investment to make as an integration. Given that the cost was estimated (not confirmed) in the proposal to be $15k the Roundtable did not feel that the necessary information or expertise of integration was included in the proposal to allow this to go to a vote. The outcome is that the Roundtable is in favor of a broader proposal for an integrations budget to be managed by a DAO member to evaluate this and many other integrations so that there are not specific one-off requests like this.
5. Cross Chain Transfer Protocol (CCTP) - PROPOSAL DID NOT PASS
25% of Roundtable voted yes to the CCTP proposal
75% of Roundtable voted no to the ChangeSwap/SimpleSwap proposal
Takeaway - Roundtable discussed whether an integration like this would be the responsibility of K9 DAO or Shibarium. This was not decided on, however discussion emerged that it is the DAO mission to bring DeFi to Shibarium and this fits in with that mission. It was discussed that the most important thing for K9 DAO right now is to deliver the product on-time and on-budget, and that the development team’s bandwidth to act on this proposal, should it pass a vote, is not enough to integrate this and commit to current timelines. Given that the development team would not have time and this is not a time sensitive vote the Roundtable decided to table this proposal for a future vote when the product is live.
6. Norwegian Coast Tangem Cruise - PROPOSAL DID NOT PASS
0% of Roundtable voted yes to the Norwegian Cruise proposal
100% of Roundtable voted no to the Norwegian Cruise proposal
Takeaway - The Roundtable discussed concern with travel promotion, whether the proper target audience was being hit, and the need in proposals like this to have clear KPIs and deliverables that will be received by the DAO. In order to evaluate proposals like this there would need to be a very clear budget, deliverables, and timeline. The Roundtable felt that while it is great to see community members taking a leap of faith to submit these proposals, that it needed more detail to be considered as a serious proposal.
7. K9 TG Marketing - REQUIRES MORE DETAIL
Did not meet criteria for Roundtable of Dogs review. This proposal is too tactical and can be handled by the existing approved marketing budget should the management council deem that the cost associated and the expected benefit supports the KPIs for the marketing objectives.
8. Whale Group Lower to 200M - REQUIRES MORE DETAIL
Did not meet criteria for Roundtable of Dogs review. No clear indication of how this benefits K9 Finance DAO. Whale group was recently created and not enough data exists to evaluate whether a decrease could be beneficial to the DAO. It was agreed that this is a very tactical marketing proposal that is not of importance for token holders to vote on to not cause voter fatigue. Roundtable emphasized the need for us as a DAO to provide more comprehensive proposals that give operators the leeway to operate and not to be micromanaged by votes at a very tactical level.