Overview
This proposal aims to outline a plan to improve Compound’s current community governance discussion and voting processes. Adopting Commonwealth as the governance forum for Compound will increase governance discussion, engagement and transparency.
Commonwealth consolidates multiple community tools into one place by offering a fully crypto-native forum and voting interfaces (polls, Snapshot, and on-chain governance) all in one platform. Commonwealth is completely free to use and will soon be fully-decentralized.
We respectfully submit this proposal for your consideration, and we are looking forward to your questions and feedback.
Proposal
Migrate the current Compound governance forum from Discourse to Commonwealth.
Current ETH Governance Problem
Participating and running DAOs is currently highly difficult due to the fragmentation of tooling. Compound uses an assortment of community governance tooling (Discourse, Snapshot, native voting) in addition to their base stack of operational tooling ( e.g Discord, Twitter, Grants Management, Gnosis Multisig etc.)
Fragmented tooling causes community member fatigue from having to track N platforms * X communities. Additionally it removes transparency and increases the chances of social engineering attacks, since on-chain identity cannot be verified. Furthermore, separate discourse governance forums utilize separate email login instances, creating another barrier for forum and governance participation. Commonwealth helps solve these issues.
We have seen that Discourse forums have about 3-5% of total token holders, while Commonwealth forums get about 7-10%+ of token holders. Commonwealth’s easy to use web3 UI makes it twice as likely for your token holders to participate in governance!
About Commonwealth
Commonwealth consolidates forum discussions, snapshot voting and on-chain voting into an all-in-one platform for decentralized communities to run themselves.
We power over 900 DAOs including dYdX, Stargate, Osmosis, Element Finance, Axie Infinity, and Redacted Cartel. Commonwealth has raised $20M+ from Dragonfly, Parafi, Polychain, Framework, Hashed, Nascent, Spark, Balaji, Stani, and others.
Compound Commonwealth 2 min Feature Walk Thru
Commonwealth Key Benefits & Solution
- Hosting all community discussions, snapshot votes and on-chain governance on one platform improves access to information and reduced tooling friction
- Linking previous forum discussions to their respective proposals improves voter education and transparency, enabling members to make informed decisions, thus increasing voter turnout
- Enabling users to access all of their communities via a single interface and the consolidated user dashboard increases participation and allows users to easily stay up to date with current community governance initiatives
- Ability to own your community platform for free and stop paying rent to web2 platforms
- Robust token gating + wallet login helps prevent spam and social engineering attacks
- High-touch customer service to quickly resolve any issues and implement new features, check out our roadmap at the bottom to see what we’re actively pushing
- Ability to create separate, but linked subDAOs for more complex org structures
Commonwealth Transition Process
Migrating to Commonwealth takes a few minutes:
- Download a back data dump of the Compound Discourse Forum
- Commonwealth imports the Compound forum to Commonwealth (maintains all content, profiles and past activity)
- Commonwealth integrates the Compound Governor Bravo governance contracts and Snapshot (creates bidirectional governance interfaces)
- Community owned and run forum
For users, using Commonwealth is simple:
- Link your wallet via Metamask or Wallet Connect
- Join the Compound Commonwealth forum
- Link the same email you used for Discourse to claim your old account
- Begin discussions
Voting Options
In favor:
Migrate the existing Compound governance forum to Commonwealth
Against:
Do nothing
Commonwealth Roadmap
Commonwealth is a Web3 platform working to empower Web3 projects.
We’re continuously building key features and workflows based partner feedback to improve DAO engagement, empower DAO growth and increase DAO success.
Upcoming Commonwealth Product Initiatives
- Notifications
- We are building out more robust in-app, email, and push notifications. EPNS has already begun deploying governance notifications for Commonwealth activity.
- Moderation
- We are enabling more complex community moderation functionality. This includes time-bans, rule logic for community roles, and spam prevention methods.
- Common API
- Our soon to be launched API enables other tools and projects to tap into the social data from the Commonwealth platform.
- Common App Store
- Roll out an app store offering full composability of DAO tools within a single interface. This will enable DAOs to process payroll, manage their treasury, create POAPs, etc. without needing to flip applications.
If you have a key feature you’d like to see on the Compound Forum, we’d love to chat and build out the functionality to empower Compound.
Further Resources
Leadership Team
Dillon Chen - Founder - prev. VC at Dorm Room Fund, web3 wifi founder
George Beall - Head of Business - prev. web3 Social Founder, growth at Fortune 10 company
Jake Naviasky - Head of Engineering - prev. Bloomberg, Carnegie Mellon
Zak Hap - Head of Product - prev. DeFi founder, Columbia
Aden Bailey - Head of Design - prev. Product Design Professor