Idea incubation stage: Investor Relation Workstream Proposal

Brief description: Investor Relation provides real-world job opportunities for ShapeShift DAO communities to attract more knowledgeable and experience season investor to invest their skills, time or money into ShapeShift DAO.

  1. Why should people use this workstream? What is it for?

    • Consolidate all ShapeShift data into a one-stop center prospectus.
    • This prospectus will be a place for potential new community members to contemplate whether or not to invest their skills, time, and money into ShapeShift DAO.
    • Reduce the time for current members to keep up with the latest development in ShapeShift DAO.
    • This prospectus will highlight the key potential of the ShapeShift DAO & platform that will empower members to seek partnership in their local area and get compensated. Eg. Binance and MX Global partnership in Malaysia.
    • Information list that is planned into the prospectus include:
      • About ShapeShift DAO
      • Local news regarding crypto in general
      • ShapeShift DAO news (ideas, proposal, voting)
      • Annual reports (when available)
      • Community feedback
      • Treasury Information
      • Fox farming information
      • Links to other workstreams Notion page or curated into a new Notion page.
      • Local FOX communities
    • Other planned works include:
      • Building a framework on how community members could develop a local team to give consultation and the proper way to get compensated. (maybe bonus from the treasury?)
      • Building a framework to approach local central bank and securities commission to seek approval for FOX to be tradable so that it would open new doors for new partnerships in that country. (Bitcoin Cash became the 5th crypto to be traded in Malaysia)
  2. Are you applying to lead this workstream?

    • Yes.
    • I have a background in Law and International Business and have been passively in crypto since 2010 and as a Muslim, I would be sharing the Islamic perspective on crypto maybe spark an Islamic FOX token and exchange platform?
    • My personal goal is to create a framework that will help anyone to self-develop work opportunities in any country and get fair compensation. (not necessarily from DAO treasury)
    • My reason to actively work in crypto is that DAO is still a relatively new concept in Malaysia and other parts of the world, the main ability for any DAO members to propose to create a job for them is an amazing concept enough for me to take a sabbatical leave.
  3. How exactly is this different than the other categories we already have?

    • A different way of presenting all necessary information for legal-conscious individuals or organizations.
    • Investor Relation Workstream will start to curate information from another workstream.
    • In the next stage, the workstream will translate the information into fewer crypto lingo and more legal appropriate words.
    • And eventually, it will be a prospectus ready to be submitted to any partners, investors, or maybe local regulatory bodies.
  4. What is the mission of this workstream?

    • To develop and maintain a one-stop center prospectus.
    • To develop a framework on how community members could develop a local team to give consultation and the proper way to get compensated for such service. Services such as:
      • Technology consultation. (Every country will eventually have DAX why not based on ShapeShift open-source platform?)
      • FOX token consultation. (Imagine a mutual fund agent explaining the in and out of ShapeShift DAO)
      • DAO consultation. (To regulatory body)
    • To develop a framework to approach local central bank and securities commission to seek approval for FOX to be tradable so that it would open new doors for new partnerships in that country. (not to mention the positive press coverage)
    • Be the first workstream to be self-funding or at least subsidies by the treasury. (depending on certain countries’ way of compensating for one’s work)
  5. What are the goals of this workstream?

    • in 3 months a completed one-stop center prospectus.
    • in 6 months a framework on how to utilize the prospectus.
  6. What metrics can this workstream’s success be measured against?

    • The number of countries that approve FOX to be tradable.
    • The number of new community members from different countries.
    • The number of new partnerships in new countries.
  7. What should topics in this category generally contain?

    • TBD
  8. Does this workstream require any immediate funding?

    • Yes
    • I propose 250k FOX for 6 months.
    • If the community decide the prospectus and framework is good and would like to further it with the goal of making FOX a legal digital token in Malaysia I would propose an additional 8 million FOX which is illogical to fund for each country but if I could prove the framework work I think it would be possible to secure fund from partnership to return back the 8 million for the next country to try.
  9. Do we need this category? Can we merge with another category or subcategory?

    • Yes
    • Possible to merge with growth & globalization, tokenomics, or marketing workstream but I think it would be a category in each workstream.
  10. Will your workstream hold recurring meetings?

    • Maybe not in the first 3 months but I would like everyone to comment on the public Notion page to give feedback and suggestion
  11. Addtional information.

  12. Personal thoughts.

    • I think it would be impossible for ShapeShift DAX DAO platform to be approved in Malaysia.
    • But it is possible to get FOX token approval in Malaysia and sell that approval to other exchanges and offer Malaysia-specific FOX farming opportunities in exchange for fees sharing.
    • If successful ShapeShift DAO just develop a local talent pool that can help other DAO approval for their token and also a repeatable framework for other countries.
    • Final thoughts, I might be biased but the local legal framework will always be there we just need to show that we are willing to comply, and the worst part is if we are not ready they will assume a legal framework base on other legal precedents.

As a workstream leader, I would not agree to add this to the Growth & Globalization workstream willingly. To detail why in some short detail that can be expanded upon if requested: I do not think this really makes any sense at all for the ShapeShift DAO, its products or community for a number of reasons. The first being the cost and possible projected costs associated with full ‘expansion’ of your project idea. The next is the scattered and hard to navigate measurables. The final reason that I’ll list in a short “why no” post, is that this seems extremely misinformed in terms of thinking that any of the macro goals (such as countries accepting FOX?) are either wanted by the community at this current point in time (I don’t think anyone wants to talk to regulators right now on behalf of the DAO?) nor would they be even remotely achievable with the extremely high cost of 8.25 million FOX (or more right?)

& just to be 100% clear, you are effectively asking for 250k FOX & will likely ask for 8 million more in 6 months correct? I’m struggling to understand how that is even logical without being involved enough in the community to discuss this subject with me (a leader of Growth & Globalization).

First of all thank you @hunt for taking the time to read my idea, I really appreciate it.

  1. [quote=“huntthewick, post:2, topic:1264”]
    I do not think this really makes any sense at all for the ShapeShift DAO, its products or community for a number of reasons
    [/quote]

    • From my point of view, this prospectus can be a single document if a community member decides at his next gold tournament to share about ShapeShift DAO by having a prospectus it shows maturity and sophistication in investing. Sure there is a lot of ways of sharing information a prospectus is just one of it. Personally, I admire Growth & Globalization work on ShapeShift One to archive all ShapeShift DAO history.
  2. [quote=“huntthewick, post:2, topic:1264”]
    The first being the cost and possible projected costs associated with full ‘expansion’ of your project idea.
    [/quote]

    • There is only a one-off cost here and hopefully it can be self-funded if people are interested after reading the prospectus and like to be educated (which most likely comes from the education project from the Growth & Globalization Workstream). I don’t know how hard or easy the education project be but it can be marketed and charged for a fee.

    • The full ‘expansion’ is a very BIG IF and I fully understand the cost concern but there is a version where which is a work in progress BTW where the 8 million is locked in a local bank in Malaysia and the yearly dividend from it could sustain employing a minimum of 5 people in Malaysia indefinitely.

  3. [quote=“huntthewick, post:2, topic:1264”]
    The next is the scattered and hard to navigate measurables.
    [/quote]

    • I would love an idea on how to measure KPI, my thinking is maybe an opinion box or a survey.
  4. [quote=“huntthewick, post:2, topic:1264”]
    extremely misinformed in terms of thinking that any of the macro goals (such as countries accepting FOX?) are either wanted by the community
    [/quote]

    • I’m sorry for the misinformation and yes I have never done any kind of survey asking if the community wants FOX to be legally tradable in their countries, this is purely from my personal hope to make it easy for my fellow countrymen to invest in FOX.
  5. [quote=“huntthewick, post:2, topic:1264”]
    (I don’t think anyone wants to talk to regulators right now on behalf of the DAO?)
    [/quote]

    • Yes I’m sure there wont be any community member apart from me wants to go and talk to regulator regarding FOX. From my view looking at Binance being ban from Malaysia and other country and loosing all that user and having to deal with all the bad PR might be a small dent for Binance but for ShapeShift who knows. And it is always nice to be prepared.
  6. [quote=“huntthewick, post:2, topic:1264”]
    extremely high cost of 8.25 million FOX (or more right?)
    [/quote]

    • I don’t think it is fair to lump sump it into a 8.25 million FOX workstream as the 8 million would require another set of proposal maybe titled “Legalize FOX token in Malaysia”
  7. [quote=“huntthewick, post:2, topic:1264”]
    you are effectively asking for 250k FOX & will likely ask for 8 million more in 6 months correct?
    [/quote]

    • I just asking 250k FOX for 6 month and if my work is not satisfactory I think it is fair for the community to request additional extension of time at no additional cost if necessary. I understand working annomously it is hard to trust and gauge one’s skill and quality of work.

    • If 8 million FOX is a big concern I would glad omit it from my proposal.

  8. [quote=“huntthewick, post:2, topic:1264”]
    I’m struggling to understand how that is even logical without being involved enough in the community to discuss this subject with me (a leader of Growth & Globalization).
    [/quote]

    • Yes I fully understand your point, I try my best to read all workstream information but I don’t want my reply to all look like this. I try my best to participate more.
    • I try to discuss the subject with one of your team members but that person seems unavailable this weekend but I decided to talk to him/her because he/she added me as a friend on Discord and never had a topic to talk to him/she. Since I refer to willyfox and there were no prerequisite to post an idea at the spur of the moment I write this idea.

Lastly, I am sorry if I have offended you in anyway and again I want to say thank you for taking the time to read my idea.

"1. What is the mission of this workstream?

  • To develop and maintain a one-stop center prospectus.
  • To develop a framework on how community members could develop a local team to give consultation and the proper way to get compensated for such service. Services such as:
    • Technology consultation. (Every country will eventually have DAX why not based on ShapeShift open-source platform?)
    • FOX token consultation. (Imagine a mutual fund agent explaining the in and out of ShapeShift DAO)
    • DAO consultation. (To regulatory body)
  • To develop a framework to approach local central bank and securities commission to seek approval for FOX to be tradable so that it would open new doors for new partnerships in that country. (not to mention the positive press coverage)
  • Be the first workstream to be self-funding or at least subsidies by the treasury. (depending on certain countries’ way of compensating for one’s work)"

I do not see $250k of value in this, especially if the goal is to be a self-funding workstream. I think that if this missions listed is realistic, you could start working on the workstream with out funding and get it up and going on your own without any funds being requested and accomplish these things on your own or with a dramatically smaller budget.

Also, even though the claim is this could be a self-funded workstream, and you are still requesting funds, could you break out how these funds will be spent? If you look at the budgets of other workstreams you can see breakouts by positions and line items. If you could provide something like this, it can help me do a better analysis of this proposal.

Hi @PTT and thank you for taking the time to read and evaluate my idea, really appreciate it.

This is my mistake I assume everyone will convert 250k FOX to USD value. Before that I want to share that value was a knee-jerk reaction to this article from Business Insider: " Crypto isn’t decentralized. It’s actually run by a handful of big wigs exploiting low-paid workers, says long-time internet academic."

Reading @hunt comments made me recalculate to a more realistic number (at least from my side) of USD 50k for six months with the possibility of extension after six months review at no additional cost.

In term of does this workstream bring back USD 50 value after six months is hard for me to predict but it can give a clear picture to this questions:

  1. How can we convince investors that FOX token is worth 1/10 FTX token?
  2. If ShapeShift DAO decides they want to raise funds how would they convince an investor of their valuation?
  3. If a DAO community member wants to use ShapeShift technology to develop a local regulated centralized exchange and share the profits/fees with the DAO it is even possible?
  4. If the Marketing & Growth workstream had spent X dollars to acquire users from a certain country only to be banned from that country do we just give up?
  5. How do we generate constant positive newsworthy stories? (It’s official: Binance secures a license to operate in Dubai)

Those kinds of questions I hope to explore as I develop this workstream.

I think we can’t expect to reap the dividends if we don’t invest. In this case, the DAO is investing in a workstream that can develop the potential to be self-funding in the future.

Sure this is a good way to start a workstream but I don’t have the monetary motivation to do so, I am not a large enough holder of FOX or have the luxury of time to take on this amount of paper work. This workstram requires a lot of research (eg. local law), interpreted it, translate it into easier to understand format and than present it to the world.

For me it is hard for me to estimate a workstream workload and put a value on it. It is the same with me, based on my experience this is the best budget I could give.

Again let me emphasize that the workstream could be self-funded after there is a clear framework to follow. I would insert a proper budget when I write the proposal. But for now the total sum of USD 50k is broken down to salary, co-working space, insurance and food allowance spread over six months. Why is it like a pay package for a HR department? Because I want to encourage others to consider if you are working full time for ShapeShift DAO you should be budgeting similar to if you are working for a company. And of course please pay your taxes (I keep this one private) and EPF (I think the US call it 401k?).

Again I would like to thank you for your time for reading and give your feedback.

Today would be the last day for my Ideation stage hopefully I could upload a better proposal tomorrow. In the meantime I would like to share this Malaysian news from Bloomberg: Malaysian Ministry Proposes Legal Tender of Crypto Currency.