I will start this article by saying I have changed my mind with regards to Maker governance. I used to be satisfied to contribute, seeing my vote mattered and doing highly interesting work. The work is fantastic, but there is a lot of it and the workload is only going to increase.
The above chart shows the time spent on participating in Maker governance and the overall community. You could of course argue the hours spent endlessly, that is why the chart is not highly detailed. What the chart does point out is that the community activities are increasing in number and each activity is increasing both in duration and complexity.
Social media: Maker chat, reddit, forum, twitter, youtube etc etc. This has increased but the increase in quantity is offset by the lack of necessity to follow all of it.
Weekly meetings: these meetings used to be held on Sundays and detailed what the dev team had done during the week. The usual duration of these meetings would be in range of 10-30 minutes, with some outliers.
Governance and risk: these meetings started out at about 1 hour but lately and despite efforts they started pushing 90 minutes in late 2019.
Community call: these calls have consistently been somewhat shorter than 60 minutes. The problem is that there are more and more topics to talk about as the DeFi boom continues.
Onchain voting: in the beginning these were quick and easy votes dealing with the stability fee. Now there are both more votes and more complex issues upcoming like SAI shutdown, decision bundling and DSR spreads. This trend is only likely to continue unless steps are taken.
Collateral onboarding: already there are multiple applications waiting for community review. Although the onboarding process is still a work in progress, as long as the process involves multiple rounds of discussion and community voting it is going to be time consuming. Crypto collateral is hard enough, but Vault material could easily extend to top stocks and bonds, as well as major raw materials. And that is not even considering already received proposals for life insurance Vaults, athlete funding and non-fungible assets of which there could be a huge range of. This type of work can’t be done by just opinionating.
Synthetic assets: while still on the drawing board, synthetic assets could bring with it a complete set of governance issues in addition to DAI. Keep in mind the workload for DAI and then multiply this across two handfuls of major currencies. The resource requirements could be nearly limitless at this point and what is shown on the chart could just be the tip of the iceberg.
At this point I could produce another wall of text but I won’t. I would just like to get your input. Our community is exceptionally resourceful and there are multiple steps that can be taken to change the direction we are headed, but for now just tell me if you feel I am right or wrong about this - ok?