Can you believe we are on POS eth right now? While we are all excited about the merge, our company and the DAO are in a mess. Right now the management team is in the meeting room discussing a solution while the DAO is having a meeting in their parliament.

So there was a bug that caused failed NFT mints because there are some parameters that we forgot to update post-merge. Well, I’m non-technical so can’t really explain details, but it impacts many of our users, some lost a great deal of money. Although we took emergency actions and fixed it right away and we didn’t get any profit from it, it wasn’t perfect. So the community was mad and they have been arguing in Discord since.

Today they posted a proposal on the governance forum to demand a compensation plan from the company’s treasury, and the vote will start next week.

We obviously can’t pay them. Afaik we had cut down 20% headcount just to make our team survive through the bear, which the company think should be in 12 months. Btw it’s funny to think NFT market will restart a bull run in 12 months, but who knows. Anyways, if we pay the users, we might need to cut another 50% of the team, from 80 to 40. While I feel 40 people is enough but none of us is willing to do this. I’m not ready to be fired in 12 months.

Luckily, we are not very worried because we own most of the tokens and we can just vote no.

But here’s Ginny, the over-cautious bitch, it’s always her, claims that we can’t vote with our wallet because the company’s interference will make it less like a DAO. We almost agreed at first when she said this. The decentralization or DAO utopia is always comforting. However, how it looks is a much smaller problem now. And if we don’t vote, there are only 5% of tokens out there, why should we make a decision based on 5% of the stakeholders?

I really hate it when people laugh about the company owning too many tokens and having too much power. Of course in a perfect world it should be well distributed and decentralized, but we are still in a very early stage, we have all the skin in the game, what’s so wrong letting us decide what’s the best for the project?

https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac8c248420045cb7b5e/19289043477987981042814920477202086135675567400894939442083619851830315450369/

Can you believe we are on POS eth right now? While we are all excited about the merge, our company and the DAO are in a mess. Right now the management team is in the meeting room discussing a solution while the DAO is having a meeting in their parliament.

So there was a bug that caused failed NFT mints because there are some parameters that we forgot to update post-merge. Well, I’m non-technical so can’t really explain details, but it impacts many of our users, some lost a great deal of money. Although we took emergency actions and fixed it right away and we didn’t get any profit from it, it wasn’t perfect. So the community was mad and they have been arguing in Discord since.

Today they posted a proposal on the governance forum to demand a compensation plan from the company’s treasury, and the vote will start next week.

We obviously can’t pay them. Afaik we had cut down 20% headcount just to make our team survive through the bear, which the company think should be in 12 months. Btw it’s funny to think NFT market will restart a bull run in 12 months, but who knows. Anyways, if we pay the users, we might need to cut another 50% of the team, from 80 to 40. While I feel 40 people is enough but none of us is willing to do this. I’m not ready to be fired in 12 months.

Luckily, we are not very worried because we own most of the tokens and we can just vote no.

But here’s Ginny, the over-cautious bitch, it’s always her, claims that we can’t vote with our wallet because the company’s interference will make it less like a DAO. We almost agreed at first when she said this. The decentralization or DAO utopia is always comforting. However, how it looks is a much smaller problem now. And if we don’t vote, there are only 5% of tokens out there, why should we make a decision based on 5% of the stakeholders?

I really hate it when people laugh about the company owning too many tokens and having too much power. Of course in a perfect world it should be well distributed and decentralized, but we are still in a very early stage, we have all the skin in the game, what’s so wrong letting us decide what’s the best for the project?

https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac8c248420045cb7b5e/19289043477987981042814920477202086135675567400894939442083619851830315450369/