Author: PHBR0 x58B
This is a Governance Proposal Draft.
The Hummingbot Foundation asks the community to discuss the current draft as a way to improve the proposed details before a formal HGP is created.
This thread will be open for discussion for 7 days, after wich a final version of the proposal will be added to Snapshot.
This proposal establishes the Technical Review DAO, a self-directed, independent 5-person squad, elected from Hummingbot community members, who are responsible for the reviewing pull Github pull in associated Pull Request Proposals (PRP).
We propose a 2,500,000 HBOT grant to compensate DAO members for their work from March 1st to June 30th, the end of Epoch 1.
Initiative Budget Allocation
As defined in Proposals, all pull requests to the Hummingbot Github repository must be approved via Pull Request Proposals (PRP).
Each PRP lasts for 7 days, split into:
- Pending: 4-day period that allows anyone in the Hummingbot community can test the pull request, evaluate code quality, and leave feedback
- Active: 3-day period when voting is active
To help the Hummingbot community properly evaluate the Github pull requests in each PRP, the Hummingbot Foundation proposes the creation of a Technical Review DAO composed of 5 community members to review and evaluate the code associated with all PRPs created until the end of Epoch 1 (June 30, 2022).
The DAO members’ primary job is review and leave detailed feedback as comments to Github pull requests associated with any incoming PRPs during the Pending period, which helps community members vote during the Active Period. We expect that DAO members should budget 10 hours per week or less.
The DAO is expected to self-organize, self-report, and operate independently, so we encourage a diverse set of skillsets amongst the 5 members. DAO members are responsible for holding and allocating the tokens, and will have full authority to disburse the token grant between its members.
We propose to open up applications and hold elections for the Technical Review DAO during February 2022 and have them start on March 1, 2022.
For Technical Review DAO’s ****work from March 1, 2022 to June 30th, the end of Epoch 1, we propose to give the DAO a 2,500,000 HBOT grant. Funding will occur after the election, when the elected DAO members have established a 3/5 Gnosis SAFE multi-sig wallet.
If the DAO’s work proves useful, we hope that the community creates a DAO re-election HGP for Epoch 2.
Since the need to code reviews for Pull Request Proposals is imminent and necessary, here is the plan below assumes that this HPG will be approved.
Therefore, the Foundation will begin coordinating elections for Technical Review DAO ASAP.
- Current Budget allocation proposal is created on Snapshot.
- Hummingbot Foundation team will create a Post on the Commonwealth Forum titled Technical Review DAO Applications
- Applicants should reply to the above topic with a thread containing:
- why they should be elected (experience with trading, engineering, and/or Hummingbot)
- Ethereum address that they will use to participate in the multi-sig
- The Application post will be open for 7 days
- Final day for community members to apply as candidates for the Technical Review DAO.
- Once the Application ****thread is closed, the Hummingbot Foundation Team will create a Hummingbot Improvement Proposal (HIP), listing those that applied as a candidates.
- The HIP will use the Weighted voting proposal type.
- HBOT token Holders will be able to vote to any number of candidates, and the 5 candidates that receive the most votes will be elected as part of the Technical Review DAO
- If approved, the budget for the Technical Review DAO is approved.
- Afterwards, the 5 elected members should self-organize and establish a Gnosis SAFE 3/5 multi-sig wallet.
We propose a total amount of [2,500,000] HBOT tokens. Rationale:
- HBOT guideline for Epoch 1: 20,000 HBOT/day, 2,500 HBOT/hour based on an 8-hour workday
- Hours/week: 10 hours or less
- Duration: 20 weeks
- Members: 5
- Rationale: 10 hours/week * 2500 HBOT/hour * 20 weeks * 5 members = 2,500,000 HBOT
Once the Technical Review DAO has been elected, the 5 elected members will have to create a 3/5 multi-sig wallet using Gnosis Safe.
The address of this wallet must be sent to the Hummingbot Foundation Team.
The Hummingbot Foundation team will then create a scheduled Spending Limit allowance for a weekly distribution of the budget
The Foundation will use the Gnosis SAFE allowance mechanism to distribute 2,500,000 HBOT tokens to Technical Review DAO’s wallet regularly over the period from March 10 to June 30, 2022.
Every week, 125,000 HBOT tokens will be available for the Technical Review DAO ****multi-sig wallet withdraw. The DAO will control how these tokens are distributed to members.
Technical Review DAO should regularly inform the community of their progress.
We suggesting posting a monthly thread on the Commonwealth forum informing the community of their progress:
- Percentage of pull request proposals with review comments
- Level of contribution by each DAO member
- Self-assessment and retrospective over the past month