PSP-IPΔ29 : Revoking grant for ParaSwap Monthly Financial Reporting

Governance Proposals Approved Proposals
1

PSP-IPΔ29 : Revoking grant for ParaSwap Monthly Financial Reporting

Keywords
collaboration, financial reports, grant

Simple Summary
Discontinuation of the Asymmetric Defi grant following the receipt of the first financial report and the observations made by the members of the DAO on its quality and relevance.

Context & Goal
After a first grant proposal draft, the PSP-IPΔ26: ParaSwap Monthly Financial Reporting vote awarded a monthly PSP grant of $1000 to Asymmetric Defi to run a monthly report.

The reception of the first report and the various feedbacks from the community question the quality and relevance of the work provided.

After discussion with @adalhi (Asymmetric Defi contact), the latter goes along in the direction of putting an end to the proposed service.

Despite the deletion of the document by its author, and his wish not to be paid for the report produced, this proposal aims to thank the author for their interest in the DAO and the time spent in trying to produce this report. To do this, this proposal aims for a partial compensation relative for the time spent on this, despite the final report not meeting the goals set by the proposal itself, mainly to:

  • Inform the community about the financial state of the DAO and the impact of governance votes, crypto trends & news on the protocol’s performance.
  • Includes Market share analysis.

Indeed, although briefly mentioned, there is no analysis done between the governance votes, the protocol announcements, the global crypto market and the numbers exposed.

In addition to the lack of these proposed sections, there were many reported numbers that have been found to be erroneous on several occasions (such as the presence of liquidity mining programmes, wrong Protocol Revenues, etc) not allowing this document to have its role of informing and educating the members of the DAO. If anything, this outdated information could lead to potential readers being mislead with factually erroneous asssesments.
Market share planned is not present.

This proposal aims to revoke the grant in an anticipated way and to pay a one-time allowance of $300 in $PSP.

Means
The proposal, if passed, will require the payment by the DAO of $300 in PSP to the Asymmetric Defi wallet: 0x3c8fc549798C48Cd4EdC1786bef85D3a50f15C10, which was posted by @adalhi on the 2 January 2023 in the proposal.

This payment will mark the end of the grant and Asymmetric Defi will be informed of the vote through one of the communication channels previously used (governance forum, discord).

The vote will confirm their previously stated commitment to end the partnership.

Forward-thinking considerations
As expressed by @Lup, this proposal is the consequence of a grant being awarded without having previously defined the expected success criteria and the expectations of the DAO.

Further discussion by the DAO should be initiated to create a framework for future grant awards to guide applicants, and ensure more effective selection and quality control.

Implementation overview
Even if both parties are at the origin of the end of this partnership, it is necessary to implement the payment and the end of the collaboration before the production of any further reports.

Voting options

  • For : end partnership and pay a one-time $300 in $PSP for the first report.
  • Against : do nothing.
  • Abstain
7 Likes
2

I agree this is the best course of action.

This is a good, low consequence learning for the DAO. My ongoing proposal includes a responsibilty to implement this robust framework for the full grants approval/delivery process in consultation with the DAO. This will be taken onboard to prevent a similar occurence with higher consequences.

2 Likes
3

I’m in favor of this proposal

2 Likes
4

Hello to all,
with the hasty and unannounced departure of the concerned grantee from our discord.
I add a notion of necessity of return of its behalf to carry out the payment.
1/ The proposal wishes to validate the stop of the grant with a payment option
2/ The payment will be made if the grantee confirms before 31/03/2023.

The snapshot proposal will contain this precision.

5 Likes
5

In favor of this proposal

1 Like
6

The DAO voted the revoke of the grant biding Asymmetric Defi to ParaSwap.

For the DAO information:

  • Asymmetric Defi twitter account has since been deleted and adahli has left the discord server.
  • A private message (copy of message below) and a friend request on discord has been sent.

This is to give Asymmetric Defi the best chance to come back to us as the vote stipulates.

Hello @adalhi
I am albist a member of the ParaSwap DAO. Following the discussion we had on the governance forum and on the discord, the DAO voted the revoke of the grant biding you to ParaSwap.
You can see the result here.

Please come back to the DAO to confirm that you are willing to receive the 300$ compensation voted by the DAO.
As stated in the proposal the payment will be made if you confirm before 31/03/2023.
After that date, the collaboration will be considered as definitively terminated.

7

Hello,
Despite our attempts to contact Asymmetric Defi, we have not had any feedback.
I consider the subject closed as the proposal voted sipulated.

1 Like