[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

SCP-33:

  1. We FOX’ed Up" fund
  2. Summary - The Customer Support team would like 5,000 FOX allocated to the workstream to use as a retention tool, starting Jan 1st. The 5,000 FOX will be sent to Workstream Leader, @cryptohmeg and she will then give each support leader 1,000 FOX to use during the 4 month proposal period. When agents report a user has had a bad experience, the support leaders can make the call 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, so the means to fund the gas can change, but considering this is small amount. I’d like to request 0.50 ETH (from the DAO treasury) to be divided among the 5 leadership members to use for gas when sending this retention/promotional FOX. 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).

  1. Abstract - 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.

We decided on 5,000 a bit arbitrarily. But it fees like a reasonable amount, and allows for each leader to have control over 1,000 FOX to give to users over a 4 month period. That’s only 250 FOX per month…about ~80 USD at current prices. There’s a chance more might be needed next proposal.

  1. Motivation - 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.

  2. Specification -

  • 5,000 FOX + 0.5 ETH over 4 months
  • To be used at the discretion of the support leaders
  • Arbitrary amount - but will help gauge future needs
  • Paid out in FOX, given to users as FOX. No exchanges needed.
  1. Benefits -
  • Empower Support Leaders
  • Retain users
  • Creates a decentralized way to disperse “We FOX’ed Up” funds to users.
  • Inexpensive (relatively)
  1. Drawbacks -
  • The amount we are asking for is arbitrary and may not help as much as we think, thus needing to request more before the proposal period is over.
  1. Vote -

YES: I vote for 5000 FOX + 0.5 ETH (from the DAO treasury) to be allocated to the Customer Support Workstream on Jan 1st

NO: I do not want 5000 FOX + 0.5 ETH (from the DAO treasury) allocated to the Customer Support Workstream.

  • YES
  • NO

0 voters

******** 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!

2 Likes

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 Likes

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.

5 Likes

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.

4 Likes

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

This still has my support!

3 Likes

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.

3 Likes

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!

3 Likes