Proposal: Solution to Improve DAO Governance Efficiency

Governance Process
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1. Motivation:

I believe Compound DAO is very serious about its Governance Process and involving community in making key decisions as evidently by the amount of work has go into this document (Governance proces)

I’m a co-founder of Syncvote. I believe our tool can add tangible value to the implementation of Compound DAO’s governance process without any changes to the current setup. The goal is to let admins and members focus on making decisions instead of getting lost in tech stuff.

I previously raised a discussion on the forum (here: Automated workflow for Compound Dao) and upgraded our products continuously during the discussion, so I decided to start this thread to make a better presentation on how Compound DAO can benefit from Syncvote. If this is something interesting, I would like to take this to the next phase.

2. Problem Now:

I see 3 existing problems in implementing Compound DAO governance process:

  1. The proposer must remember all the technical details of the governance process to avoid making mistakes.
  2. The proposer has to bounce around different platforms, such as Compound, for each step of the process.
  3. Any solution that could potentially consolidate everything into one platform for consistency and ease of navigation would require the DAO to abandon its current setup and adopt a new one.

3. How We Solve It:

Syncvote provides a chrome extension. It works as a unified front-end for any DAO member that wants to make a proposal to Compound DAO. It acts like a central hub, no more bouncing between different platforms. Members can kick off and handle proposals, watch progress, and move through stages – all in one interface.

Why Syncvote will fit nicely into the current Compound DAO practice:

  1. Non-invasive, there isn’t any new platform to familiarize with, just open the extension and click “start new proposal” to start.

  2. The extension works with all the platforms DAO has been using, so you don’t need to make any changes to your current setup.

  3. It’s free, our goal is to eventually put every DAO to operate completely on-chain, so until Compound DAO decides to write data on-chain; it won’t cost you anything.

My cofounder’s created this video to illustrate how the plugin works for a DAO: Syncvote Demo

4. Next Steps to Implement:

To implement this transformative solution for Compound DAO, we propose the following steps:

  1. After the proposal has been passed, I will convert the Compound Governance Process into a format compatible with Syncvote. An administrator/coreteam member can help me to follow-up and also check its accuracy.
  2. After that, Compound DAO will start announcing to community members on forum, announcement channels on discord and twitter etc., that they can start using Syncvote extension to make new proposals from then on.

In conclusion, I see this as a straightforward implementation that helps to smooth governance experience for Compound DAO community members. I would be grateful if Compound DAO adopts Syncvote.

Thank you for reading my post. I would like to have your feedback on this topic.

Godwin.

1 Like
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Hello,

This seems like something that is a better fit for the Compound grants program rather than community discussion. I would recommend checking and applying to one of these grant domains.

2 Likes
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Thank @cylon for your recommendation.

That’s the good approach. I will see how the solution fit into one of those grant domains.