Ahoy FOX maties
Who’s ready to build the greatest product(s) in the history of foxkind?
I’m excited to get the ball rolling for the Product workstream, a group dedicated to leading ShapeShift DAO’s mission to be the pathway into the borderless financial system; an open-source, multi-chain, self-custody crypto platform enabling billions to achieve financial sovereignty.
The Product workstream will be responsible for the following:
- Combining insights from users, community members, other workstreams, and the macro crypto and financial industries to propose the optimal roadmap.
- Delivering detailed product specs that can be handed over to other workstreams such as development, marketing & growth, and partnerships to give them a clear and comprehensive understanding of new feature’s requirements.
- Deliver beautiful UI/UX designs for each new feature, utilizing existing UI components and ShapeShift brand and style guidelines and incorporating insights from user testing before development begins whenever possible.
- Setting goals and success metrics for each new feature pre-prioritization, then reporting on whether or not goals were met post-launch
- Coordinating with stakeholders and the community to lead periodic Product Prioritization meetings where a roadmap is proposed by the product team, and all stakeholders are invited to give feedback or propose alternative roadmaps
- Lead bi-weekly product office hours as well as design office hours where all community members are invited to hang out with the product/design team, ask questions, learn about what they’re working on, and pitch ideas.
- Be a repository of knowledge about the ShapeShift suite of products and the future roadmap.
- I’m sure there’s more but this is a great start!
I am not applying to be a leader of this workstream, but plan to contribute in a meaningful and ongoing capacity, and am happy to act as a de facto leader until a better leader emerges (please post on this thread if this could be you!).
As Principal Product Manager of ShapeShift, I’ve led or been involved in all major feature launches over the past 3+ years, including leading the development and launch of ShapeShift’s web and mobile apps from the ground up. We are blessed to have one of the strongest product teams in the industry, if not the world, and we are so excited to be able to accelerate the pace of development in this open source world. While I’ve enjoyed every second of the past 3 years, I could not be more excited to continue contributing to the product workstream in a more decentralized manner alongside YOU.
So, if you’re interested in contributing in an ongoing capacity to this workstream…
- Reply to this post expressing your interest and what you can bring to the table
- In order to schedule a weekly 1 hour workstream-sync meeting, add your availability to this calendar poll. The first sync meeting will be scheduled for the week of August 2nd (after folks return from EthCC).
At the initial sync meeting, I’d like to meet and connect everybody who is interested in contributing, get feedback from the community on the tentative product roadmap we have to begin with, and start brainstorming the best next steps to transition our current processes as a product team to this workstream.
In the meantime… here is the tentative roadmap laid out in the decentralization announcement:
The ShapeShift roadmap will ultimately be determined by FOX holders. To get the ball rolling, here are some of the major initiatives from the current ShapeShift roadmap, many of which are already in progress:
- Implement support for additional wallets, including but not limited to MetaMask, Trust Wallet, WalletConnect, and Gnosis Safe. We’re considering onboard.js for this.
- Open source all ShapeShift code and infrastructure.
- Replace or decentralize functionality that currently relies on centralized infrastructure, such as ShapeShift oAuth.
- Anything that cannot be open-sourced in the short-term will be run by the Foundation with the intention of it open-sourcing and decentralizing when possible in coordination with the community.
- Add support for a growing list of blockchains, with the ultimate goal of enabling projects to easily add their own blockchains.
- Add support for DEX aggregators on additional EVM-compatible chains.
- Add cross-chain swapping capabilities for new assets as they become available on THORChain.
- Enable users to provide liquidity on THORChain and earn yield on a growing number of assets and blockchains, including native BTC.
- Enable users to easily deposit to Yearn vaults, and deposit all revenues earned through Yearn’s affiliate partnership to the ShapeShift DAO.
- Enable users to view and manage positions across a growing list and variety of protocols (borrowing, lending, yield-generating, etc.). This includes protocols like Aave, Compound, Alchemix, and Liquidity.
- Enable users to “zap in” to DeFi positions, which would otherwise require multiple transactions.
- Enable users to transfer assets across blockchains via decentralized bridge protocols.
- Add support for a growing list of Ethereum Layer 2 solutions, with the ultimate goal of enabling projects to easily add support for their own Layer 2.
- We have explored implementing support for Bitcoin’s Lightning network, but unfortunately have yet to find a viable solution for supporting Lightning that is both non-custodial and also doesn’t require users to run full nodes. However, if the community can determine a viable path, we would love to support Lightning.
The First Partnership
We would like to propose the first partnership is established with Yearn, whose protocol has a built-in affiliate revenue program (https://twitter.com/iearnfinance/status/1367508483952771075?s=20). ShapeShift users will be able to deposit to Yearn vaults to earn yield on their assets with no added fees, and will even earn some bonus FOX. This will make ShapeShift the best interface for using Yearn, with a higher APR vs. using Yearn directly or through any other interface. One hundred percent of the revenue generated through users’ deposits will go to the ShapeShift DAO, and the FOX Tokens users earn will grant them governance rights over how those revenues are allocated.
FOX Token holders can choose to distribute revenues to holders, hold or allocate them to diversify the treasury’s portfolio, buy back FOX to either burn or to continue funding community incentive programs, invest in other projects, or any other initiatives the community manifests. This no-fee added, affiliate revenue program can be applied to any protocol, application, or service that addresses the needs of crypto users, including fiat on/off ramp purchases (Banxa), trades (THORChain or 1inch), NFT marketplaces (OpenSea), all things DeFi (refer to our list of communities being airdropped to), delegated staking for POS chains (staked.us), even physical item purchases (earn FOX when you buy a Ledger or some MetaFactory swag, and the ShapeShift DAO earns some DAI).
How does ShapeShift capture value in an open source, decentralized world? While open source code can easily be replicated, communities, partnerships, reputation, and the network effects these brew, cannot be.
FOX incentives can kickstart, accelerate, and solidify these network effects while also achieving the necessary, ongoing mission of distributing FOX widely, fairly, and to ShapeShift community members.
For protocols, blockchains, and any project willing to share a percentage of their revenue.
Blockchain projects will be able to add support for their own chains and tokens, with the option of sponsor bounties for any or all of the work.
Protocols or other crypto services (i.e., fiat ramps) that need an interface, web3/blockchain provider, and/or wallet no longer need to build this themselves; rather, they can integrate directly with ShapeShift at launch and gain valuable exposure to a growing user base and not worry about added fees or the risks and dependencies inherent with closed-source technology.
Any project that is willing to share a percentage of the revenue generated by ShapeShift users is eligible for bonus FOX incentives, as determined by governance.
Thanks for reading! Looking forward to building the best interface to the decentralized universe with you all