[Ideation] SCP 159: TMDC Revisions - Fall 2023

Proposal Discussion
1
  • This proposal aims to address three critical issues within the Treasury Management and Diversification Committee (TMDC):

    Replacement of @Kent with @GiantKin on the TMDC.

  • Decrease the quorum requirements for votes from 4 to 3.
  • Eliminate TMDC compensation for @ProfMcCarthy if/when his new role as Tokenomics Workstream leader is approved.

Summary:

The proposed changes to the TMDC are as follows:

Membership Change:

  1. To maintain a five-member TMDC, we propose adding @GiantKin, who had previously been considered in SCP 148 and is willing to serve. Notably, @FireB0mb1, another DAO member interested in joining the TMDC, has withdrawn his application and interest.

Quorum Requirement Adjustment:

  1. This proposal recommends reducing the quorum requirements for TMDC votes from the current 4 to 3. This adjustment aims to expedite decision-making within the TMDC.

Eliminate TMDC Compensation for @ProfMcCarthy:

  1. The proposal suggests discontinuing compensation for @ProfMcCarthy if he is confirmed as the Tokenomics Workstream Leader.

Background:

The TMDC was initially established on a trial basis in SCP-36 in November 2021 and subsequently continued indefinitely by SCP-62 in February 2022. SCP 148 also oversaw the transfer of roles within the TMDC, as well as clarified its purview.

Under SCP 148, TMDC compensation was increased to 1,250 USD worth of FOX per month for each committee member, except for Kent, who did not accept compensation due to his role as tokenomics workstream leader.

If this proposal is approved, @GiantKin, as the fifth TMDC member, will also be compensated with 1,250 USD worth of FOX per month.

The reduction in quorum requirements from 4 to 3 is necessary to streamline TMDC decision-making, as achieving a quorum of 4 with only 4 members has proven challenging and has led to delays in critical matters, such as managing stablecoin holdings for payroll.

Furthermore, if ProfMcCarthy’s proposal to continue as the tokenomics workstream leader is accepted, this proposal will have a net-zero impact on FOX or stablecoin holdings. The decrease in 1,250 USD worth of FOX from ProfMccarthy no longer accepting compensation for their TMDC role will exactly offset the compensation to be given to @GiantKin for his role.

Motivation:

With @Kent resigning from the committee, ensuring that the TMDC maintains adequate staffing is imperative. Reducing the quorum requirement will expedite decision-making, aligning with the TMDC’s goal of providing timely recommendations for stablecoins, debt management, and asset diversification. Additionally, it is essential to clarify that, as the tokenomics workstream leader, @ProfMccarthy will no longer receive compensation for their role on the TMDC.

Benefits:

  1. Passing this proposal will yield several advantages:

    Ensures the TMDC maintains five voting members by welcoming @GiantKin as the fifth member.

  2. Facilitates quicker decision-making by reducing the quorum requirements to 3.
  3. Eliminates FOX compensation for @ProfMcCarthy effective when they start their role as tokenomics workstream leader.

Drawbacks:

There are no drawbacks to this proposal beyond those inherent to the TMDC itself.