Meeting Note
- Q3 OKR Review
- A detailed review of 3 working groups (BWG, MWG, HR WG) were done with feedback provided by leads.
- See updated status for each WG OKRs below
- Miscellaneous Expenses & Budget Planning:
- Discussion on the need for flexible budget planning due to market volatility.
- Importance of setting a cap for yearly inflation to avoid financial issues.
- Suggestion to establish agreements on project costs and long-term planning to prevent sudden cost-cutting.
- Emphasis on collaboration with DAO members to align on budget expectations.
- Liquidity Concerns & Market Impact:
- Acknowledgment of limited liquidity in the market affecting DAO's ability to increase costs.
- Discussion on the impact of 28 days council term shift on long-term planning.
- Proposal for Salary Cliffs:
- Idea to implement a six-month cliff for all salaries until early 2025 to reduce selling pressure on JOY tokens.
- Assumption that the crypto market might recover by early 2025, but no certainty.
- Concerns about the lack of liquidity and the potential benefits of reducing immediate token sales by DAO members.
- Vesting & Salary Distribution:
- Discussion on current linear vesting and the potential issues with introducing cliffs.
- Suggestion to combine a cliff with existing vesting schedules (e.g., six-month cliff plus one-year vesting).
- Some members prefer longer vesting periods over reduced salaries, seeing it as a way to increase platform ownership.
- Review of Salary Vesting Options:
- Agreement on the potential benefits of longer vesting horizons as mandatory, especially given current token value.
- Discussion on removing the option of fully liquid tokens due to the potential for cashing out.
- Acknowledgment of the upcoming end of token distribution to founding members by December, which should reduce selling pressure.
- Twitter Spaces & Community Engagement:
- Highlighted the potential of using Twitter Spaces as a tool for community growth and engagement.
- Success stories of communities growing rapidly through regular participation in Twitter Spaces.
- Emphasis on the importance of regularity and consistency in hosting Twitter Spaces.
- Suggestions to join other Twitter Spaces to increase visibility and engagement with the broader community.
- Proposal to replicate successful strategies from other communities to grow Joystream's presence on Twitter.
- Agreement on the potential benefits of using Twitter Spaces more actively to discuss updates, showcase projects, and onboard new users.
End of Session.