MIP41c4-SP#:28 Author(s): Mark Phillips (@Aes) Contributors: Tags: core-unit, cu-sf-001, facilitator Status: Formal Submission Date Applied: 2021-12-01 Date Ratified: YYYY-MM-DD
MIP41c4-SP28 onboards Mark Phillips (@Aes) as Facilitator for the Strategic Finance Core Unit.
MIP41c4-SP28 adds Mark Phillips (@Aes) as Facilitator for the Strategic Finance Core Unit. He will be responsible for facilitating the development and distribution of financial reporting and analysis to assist the DAO in evaluating the financial health of the protocol, enabling strategic decision making and effective allocation of capital.
I entered the crypto scene in 2013 after hearing of Bitcoin’s meteoric rise in the business media. I quickly fell down the rabbit hole after reading the Bitcoin whitepaper and later learning about Ethereum and smart contracts in 2017. What once was considered a speculative novelty for Internet nerds has since grown into a multi-trillion-dollar asset class.
Despite the growth and native transparency of the blockchain, it is still extremely difficult for the average user to understand what’s happening on-chain—leading to the infamous “shadowy super coder” quote from US Senator Elizabeth Warren. As the number of crypto assets exploded over time, so too have new and innovative tokenomics. This has made it even more difficult for the average stakeholder to understand what drives value and the price of a particular token. After listening to a16z podcasts and hearing of their investment in MKR, I started to research and learn about the project, eventually finding my way to the MakerDAO forums.
People who have worked with me in the past know me as a builder—there is nothing that motivates me more than building and creating new financial models and processes. A blank canvas provides tremendous opportunity and I strongly believe MakerDAO can make an immensely positive impact on the world by providing access to liquidity, capital, and funding sustainable & renewable collaterals.
My commitment as the SF team facilitator is to:
- Serve as a point of contact between the Strategic Finance Core Unit, the Governance community and other facilitators to ensure alignment on team deliverables and objectives
- Represent the Core Unit to the community by:
- Engaging with the community and synthesizing feedback for the team to help iterate on our ideas
- Communicating team updates, roadmap, and releases to the community
- Demonstrating to stakeholders how our contributions bring value to the protocol
- Acting under principles of transparency
- Attending relevant meetings and delivering status updates
- Work with SF Team Lead to:
- Define Core Unit management framework and team KPIs
- Set up the legal structure of the Core Unit
- Draft and deliver required MIPs
- Joined the MakerDAO forums on January 3rd, 2020 to learn more about the project and the DAO
- Shared a DCF model for valuing MKR that received over 250 links
- Volunteered and collaborated with @LongForWisdom, @Derek, and @Planet_X on MKR Compensation Guidelines
- Started managing monthly financial reporting in July (starting with the June report)
- Built the MKR Compensation Financial Model to provide visibility to MKR compensation’s impact on financials
- Began sharing monthly revenue and cash flow forecasts
- Initiated a discussion regarding Key Performance Indicators (KPIs) that will help us understand and evaluate the MakerDAO ecosystem’s success
- Partnered with @Nadia, @Primoz and @Sebventures to provide a model of the financial implications of the new Institutional Vault product under different scenarios
- Proposed a new Monthly Strategy Review Process - more info coming soon
- Most recently worked for three years at a mega cap public company (>$200B market capitalization) as a Sr Finance Manager (internal promotion from Finance Manager)
- Three and half years experience at Deloitte Consulting LLP, progressing from Consultant to Sr Consultant and leading the financial management of some of the largest projects including The Blackstone Group, Apollo Global Management, TPG, and other large alternative asset managers
- Over two years at a Healthcare Consulting startup
- Education: BS with Dual Concentration in Finance and Management, Northeastern University
- Completed all three levels of the CFA program