[SCP 33] ON HOLD Official Ideation thread for the "We FOX'ed Up" fund - additional FOX allocated to support team to send customers who encounter poor experiences

Proposal Discussion
1

SCP-33:

  1. We FOX’ed Up" fund

Summary

  1. - The Customer Support team would like 10,000 FOX allocated (2k per leader of support) to the workstream to use as a retention tool, starting March 1st. The 10,000 FOX will be sent to Workstream Leader, @cryptohmeg and she will then give each support leader 2,000 FOX to use until funds need replenished or we sunset the campaign. When agents report a user has had a bad experience, the support leaders can use their discretion on sending the customer some FOX to ensure we retain the user.

Additionally we’ll need ETH to fund the gas for this particular campaign. This campaign could very well continue into the next proposal, but considering this is small amount. I’d like to request 0.50 ETH or the equivalent in USDC (from the DAO treasury)… Any unused funds will roll over into the next period. More than likely, we can use a shared vault/shared wallet for this purpose (which I know can seem like a security issue, but for this amount of money I believe the convenience and amount outweigh the security fears).

Abstract

  1. - We’d like to add some lightness to the campaign by calling it “We FOX’ed Up” and use that language when talking to customers. It’s widely known that sometimes, things just go wrong. While we explore the deep dark corners of the ShapeShift DAO’s possibilities, surely things will go awry. When they do, we can use this campaign to let users know we are sorry for the mishap and try and compensate them for the bad experience.

Pending the success of this ongoing campaign, we’ll request more or less funds in the future.

I have increased the original request from 5k FOX to 10k FOX to ensure a length of time running the campaign and so we can give out meaningful amounts to users who need the boost.

Motivation

  1. - We want to make sure we have additional tools in our back pocket as a support team to retain customers, keep them happy, and delight the crap out of them. Giving my leadership team a way to take control over bad situations helps everyone.

Specification

  1. -
  2. 10,000 FOX + 0.5 ETH or the equivaleent in USDC
  3. To be used at the discretion of the support leaders

    4. Benefits

    1. -
    2. Empower Support Leaders
    3. Retain users
    4. Creates a decentralized way to disperse “We FOX’ed Up” funds to users.
    5. Gets more FOX into active users’ hands
    6. Inexpensive (relatively)

      7. Drawbacks

      1. -
      2. The amount we are asking for is arbitrary and may not help as much as we think, thus needing to request more sooner than we think.

        3. Vote

        1. -

        YES: I vote for 10000 FOX + 0.5 ETH or the USDC equivalent (from the DAO treasury) to be allocated to the Customer Support Workstream on March 1st

        NO: I do not want 10000 FOX + 0.5 ETH or the USDC equivalent (from the DAO treasury) allocated to the Customer Support Workstream.

        ******** UPDATED**********

        tl;dr

        changed the plan from asking for more FOX to instead have the DAO treasury or foundation somehow provide 0.5 ETH for gas costs. Any left over will be rolled into the next period of the campaign. So the total is back to 5000 FOX (+ and additional 0.5 ETH to cover gas).

        This proposal is on hold until the new Treasury Committee is formed and a solution is created for gas costs. Thanks!

        UPDATED NOTES:::: the proposal mock up above is now fully updated with new amounts and a resolution to the gas issues. Please review and leave any new comments below!

2

Just realized, we’ll also need ETH to send the FOX, so I’d like to amend this to add an addition 5000 FOX to cover gas costs. I’ll take the 5000 FOX and immediately exchange it for ETH and make sure everyone on the support leadership team gets ETH to fund all these transactions.

At today’s rate that is ~300 USD per person to cover fees.

I realize this doubles my ask, but i overlooked this very important detail my first time around.

3

Posted this in discord a well, but posting in this thread so more people can see:

This is small amount, so I am not against it, but I prefer proposals generally try to stay away from necessities of selling FOX even for gas reasons.

a couple suggestions of how this could be dealt with (1) simply ask the DAO to send ETH to cover some gas (and the DAO treasury can figure that out somehow) or (2) ask the DAO for some FOX collateral that can be used in the Rari Fox and Frens pool to collateralize the FOX, borrow stable coins, and exchange that for ETH instead.

there is also an option (3) which would be outside of this proposal and would require a separate proposal from the community, which is simply that the DAO treasury should collateralize X amount of FOX, borrow stables, and buy some ETH with those stables in order to have ETH which can be used for gas for any number of things (and just to up the DAO’s treasury of ETH in general honestly).

we have a LOT more options to figure out these things now that the ability to borrow against FOX exists rather than solving our problems by selling FOX at market and I think we should all start exercising that creativity rather than just selling FOX as our first option to solve problems like these.

4

If (1) is an option, I’d prefer this of course. All of these options sound great to me, although I’d need to learn more about the Rari FOX option.

We have time to discuss and come up with the best strategy here - so if we need to iterate on this a few times, I’m fine with that.

5

All good! great to catch at this phase and not during boardroom!

This still has my support!

6

i like this line of work that touches something like customer recovery paradox.

moreover, this request is pretty fair imo and the fund proposal is reasonable.

7

Still working on funding the 0.5 ETH for this proposal before moving it into Snapshot. Will probably pause this in Ideation until the new Treasury Team is running so they can help with the gas cost strategy — don’t need the funds until Jan 1st, so we’ve got time!

8

Hi all!!! Opening this can of worms back up and will be re-writing the above to include some USDC from the Rari fund in the treasury to help cover gas fees! I’m excited to offer this as a retention tool for customers!