I’m watching the Crypto Gathering and I really think we should have a discussion about the “business-like” Core Unit mandates.
This might concern the following proposal:
- MIP39c2-SP5: Content Production Core Unit, MKT-001
- MIP39c2-SP8: Governance Communications Core Unit, COM-001
- MIP39c2-SP4: Growth Core Unit, GRO-001
- MIP39c2: Strategic Marcomms Core Unit
@Planet_X has shared that some proposed Core Units are a bit overlapping, I would suggest that the community should define its business strategy for those Core Unit proposal to fit in. We can’t ask people to propose Core Units without even knowing what Maker is all about from a business perspective.
Educating people in poor countries to use DAI is nice. Producing content and doing some social media is nice. But I fear it’s not aligned with MakerDAO and just wasted money. We are more and more a B2B and a protocol-level product. We don’t have a retail product at all. That’s a new strategy (unspoken but fact-based) and it has implications on the business.
I include Governance Communication as well because it should play a role in that. From their mandate: “Aggregate and Simplify. Stakeholders need to be kept informed.” That’s nice but not important. I would see this Core Unit keeping relationship with regulators, big investors, doing roadshows. Stuff that really impacts MKR price. Caitlin Long (CEO of the crypto bank Avanti) is having a super-wide exposure and doesn’t even have a product.
We need to work on things that move the needle. That’s corporates, institutions, and family offices. Some are using USDC and USDT we need to have a way to identify them and convince them to move to DAI. Some are not there yet and DAI should be their initial choice.
Happy to see data that say otherwise, but we know that Nexo is our biggest customer and my guess is that it’s 10x bigger than all the EM folks we’ve converted with our programs. Not saying it wasn’t a good strategy at the time (I think it was), but we have to adapt to the landscape.
If this vision is correct, we should evaluate “business-like” Core Unit proposal using this lens. MKR holders will invest cash and not get rewarded in the short term, what matters is the return on investment. And currently, I don’t see much of it. But hey, that makes sense, we didn’t ask for it. Regarding those applications, I get a feeling that we are becoming a non-profit organization.
PS: In a sense, we just need one person, one that has access to high-level management of BlockFi and Celcius to convince them to do like Nexo. This person will also be able to have access to some first class investors to add some credentials to MakerDAO. This would be game changer. We need to hire Christine Sandler. I don’t care about the cost.