Hi Community!
I’m Meri, an active contributor to GoodDollar Community and a member of the Good Labs team for the past 2 years. One key aspect of my role involves fostering community engagement and encouraging GoodDollar members to take a more active role in contributing to the DAO. I am excited to announce the initiation of this post as a follow-up to the Community Feedback proposal. I want to emphasize the commitment expressed by the Good Labs Team to actively support the establishment of a GoodDAO working group dedicated to the protocol plan. In line with this commitment, I am eager to volunteer as a coordinator for the working group.
Protocol & G Liquidity Group
Following the Community Feedback Proposal, it has become evident that the GoodDollar community has many members eager to contribute to the GoodDAO’s effective redeployment of the protocol.
This proposal is designed to solicit feedback on the concept of the working group and recruit GoodDAO members who would like to contribute.
This group will also be responsible for addressing the current low liquidity of G$ token on side chains, which emerged through the Community Feedback Proposal as a primary concern for the community and is a priority issue for the community to tackle. Following establishing a dedicated G$ Protocol & Liquidity Group within the DAO to address these topics, there will be a next step to seek budget allocation from the Community Fund for experimenting with liquidity strategies. Simultaneously, this is aligned to the larger GoodDollar vision of providing educational and practical opportunities for GoodDAO members to learn by doing in guiding the future of the GoodDollar protocol.
Objective:
The objective of the working group is to discuss options for the redeployment strategy, experiment with liquidity strategies in redeploying the core GoodDollar protocol contracts, and make recommendations to the core development team. This initiative also aims to serve as an educational platform, providing community members with insights and resources about the dynamics of liquidity and Decentralized Finance (DeFi).
Potential activities that this group aims to evaluate is what effect the redeployment of additional G$ liquidity on DEXes will have. This experiment holds significant value within the community, providing insights on user and market behavior before contemplating the injection of more liquidity into the system.
Some examples of topics & activities:
- Creating and providing educational materials of the GoodDollar protocol, its functionality, the Reserve model, and DEX liquidity infrastructure to members
- Organize workshops to educate members on the basics of automated market makers, liquidity pools, decentralized finance (DeFi), and web3 technologies
- Collaboratively create and launch new G$ liquidity pools on different decentralized finance platforms.
- Deploying liquidity in existing pools that follow a strategy.
- Experiment with strategies to diversify risk exposure by managing a portfolio of positions in various liquidity pools
- Implement mechanisms to monitor and analyze price changes, especially focusing on the G$ token, in response to various experiments
- Conduct research and analysis on different liquidity pool protocols, their performance, and potential risks
- Document and share experiment results, insights, and best practices to share knowledge within the group and the broader community
- Explore potential partnerships with other web3 projects or communities to enhance the scope and impact of experiments and seek to find more support for liquidity.
Timeline:
The Protocol & Liquidity Group proposes to kick off its activities within by March 7th (first meeting) and plans to conduct a series of meetings, experiments and educational initiatives over the next months. Specific details to be provided once we weight the interest on participation on this group to start up, but community members should expect to make a 2 hour / week time commitment. This is a volunteer commitment.
For those community members who are interested in participate in this initiative as mentors or participants, please reply to this thread with the following information:
Name:
Telegram:
Languages spoken:
How are you related to the GoodDollar community?
Do you use DEXes?
Have you experimented with deploying liquidity?
How can you contribute to the group?
Any other information or feedback about this initiative that you would like to share?
Next Steps:
- Collect GoodDAO members into a working group.
- Create and set working group meetings & ways of working to communicate
- Prepare plan to request funds to support working group activities & experimentation
- Prepare proposal to request funds from the Community Fund, partially paid in G$, to be dedicated solely to supporting redeployment of liquidity
I also encourage all members to give feedback on this initiative regarding in their commitment to actively participate.