17.10.2019

Nest WG call #1

Call happening on 17th of October, 5PM CEST

Presentation of the Nest Program Analysis Worked on by @Joeycharlesworth and @Burrrata

Link to presentation slides: https://docs.google.com/presentation/d/1J4At-ebSI1uVQ2jxo650WV49P1atuFP4fGr-_SHW1Sk/edit?usp=sharing

Going through the Nest Grant allocation funnel

  • Sourcing: Nest is seeing a small fraction of teams that could apply to the program

    • Need to implement a CRM system
    • Encourage for profits to apply
    • Have scouts to hunt deals
  • Due Diligence: Currently few people involved and not very structured

    • Have 1 person due dil reports doing in depth analysis for Nest proposals and presented to Nest WG
    • We should adapt due dils according to the amount of the funding
  • Selection:For now we have 25% acceptance on proposals submitted to the repo

    • We need to be more selective!
  • Support: We need to provide more support on different things

    • Make sure they understand the tech stack and have support on that
    • Help teams get user feedback on what they are building
  • Shipping: is hard we have to help people get audits and legal counsel, as well as marketing

  • Retention: we need to do more to keeep our Nesteeees after they are done with grants!

    • Most former grantees have left the ecosystem
    • We could invite Nest graduates to join the Nest DAO as a member :)
    • Nest grantees can have shared ownership in each other's projects
  • Performance evaluation:

    • set clear goals
    • have more projects shipping on mainnet
  • Marketing: The more marketing the more applicants, the better the products shipped :)

    • Diplay our portfolio
    • give more updates
    • provide transparency on how the Nest DAO runs!
  • Github is cool but it is not a CRM, we have to get a CRM it is much better to manager our pipeline.

  • Incentive alignment: for now there is low community engagement. Lack of structure and accountability. People in the Nest DAO are busy!

    • Create roles in the Nest DAO
    • Split funding milestones based
    • Have Nest teams operate as Aragon DAOs
    • Have a Nest manager to be responsible and champion a given Nest project. Gets 16% of project funds
    • The Nest DAO WGs need to get 4% of funds for their participation in the different steps of the process
    • This 20% are extra on top of funds allocated to a given Nest project
  • Budget:

    • 35% of Nest budget will go to the Nest program functioning and ops/support the rest goes to grantees

Next steps: There is a next steps section in the google doc.

Conversation following the presentation

  • The Nest DAO members reward sharing is a tricky topic
  • What is the plan to have community buy in?
    • release the slides first and a recording of the presentation on Youtube
  • How many Nest managers would we need?
    • It can be done with light input by a few Nest Managers
    • The program itself should be structured so everything is easy to do
    • We should not be exclusive to who can or cannot be a Nest Manager or Nest DAO member.
  • ROI and evaluation metrics can be specific to a given project. Some are universal though like retention of talents.

  • We need to DECIDE WHAT ARE THE HIGHER LEVEL OBJECTIVES FOR ARAGON to establish the objectives of the Nest program

Ethereum foundation grants team sync during DevconV

  • Eager to collaborate
  • Peferably collaborate on things that would directly benefit to Aragon
  • Invite an EF person to be a member of the Nest DAO

Attendance:

  • Aaron
  • Burrrata
  • Joe
  • Louis
  • Bingen
  • Gabi