Many points of opposition have been raised above, which I agree with. But I will raise my own points to:
First, let’s start with the macro level view of this proposal. As I read this, what tangible value has been accrued? Historically, the activities being remunerated fall into:
• Engaging in community discussion
• Proposal writing and scoping
• Initial strategies for bolstering BANK utility (Where is the documentation for this? What actionable insights?)
Since when are we in the habit of rewarding administrative overhead before value was ever accrued? If there was an actual document showing the research completed thus far, then I would be more willing to remunerate work completed. Joe raised the point that Bankless Academy got remunerated – Yes, but they got remunerated for value accrued. They had already started drafting design graphics, course content, and deployed test released.
Furthermore, this proposal is not thoroughly staffed. There is the assumption that the TC will pull resources from dev guild, marketing guild, and design guild with no representation from any of these guilds. Reckless assumption of resources is how projects fail. Please reread the project proposal workflow:
Second, let’s talk budget. 2M? 40% if the entire S2 seasonal budget? With 0 indication of how those funds will be spent? You write
I’d love to specify more which incentives are going to do what, but that is going to require results from the research guild on tokenomic activity effectiveness, and we’re planning on gathering approval in the forums for incentives before implementation.
Then do that first. Ask for the BANK to put together the research first before this next step.
That leads nicely to my third point of whether we even need a TC committee right now. I don’t think we do. For one, we’ve been exploring different tokenomic ideas in a decentralized fashion., such as with the Balancer proposal, which led to robust discussion. Furthermore, IcedCool is working on a proposal for Tokemak. Why add this extra layer of coordination and friction when we already have a POC that we can make tokenomic decisions in a decentralized fashion?
What happens if I want to propose a tokenomic program? Do I have to go through the TC first and get their backing? If not, then what’s the point of the TC? If so, then that creates friction. Could this entire initiative be rolled up into the Research Guild and then individual initiatives be broken down into Projects with their own budgets?
For these reasons, I have voted to reject this proposal outright.