[PIP-22] Budget for COO/Product Lead

Snapshot vote for PIP-22 here: https://snapshot.page/#/pickle/proposal/Qmf5bSoNqGXzdnSLnr96eUBtUsFbZxDh4aA9Zrhx31GV49

Intro

As we all know Pickle will integrate with Yearn, with our PickleJars becoming Yearn v2 Vaults. At present Pickle will serve to 1) provide PICKLE emissions on top of the base Yearn Vault returns and 2) work to develop strategies in collaboration with Yearn to receive the 10% strategist fee.

There is potentially a need to identify and oversee the implementation of new growth opportunities beyond developing strategies which can compliment other projects within the Yearn ecosystem.

Proposal

In light of this opportunity I believe we should prioritise product research and development. If passed, this proposal would allocate $105k/year for paying a salary for a COO/product lead to work full time on Pickle to develop its product roadmap and lead operational initiatives in general. The compensation would be denominated in stablecoins and vested PICKLEs at a ratio of approximately 2:1.

Candidate Selection

If the budget for the proposed role is approved, a call for suitable candidates will be made on the Pickle Discord. Thereafter, a selection committee will assess and select a suitable candidate and for a certain length of time at its discretion. The selection committee will comprise of at least the following multi-sig members and key Pickle contributors: @larrythecucumber, @0xkoffee, @jintao, @CeloProtocol, @purplezky, @Rooster_Cogburn77, @sifu, and @yyctrader.

Position Responsibilities

The position would include at least the following responsibilities (taken from this Forum post):

  • Developing and managing a Growth process: an iterative, data-driven approach to reach the organization’s goals by experimenting and compounding on what works, open to the whole community to participate in. This also involves goal-setting that is product-oriented and informs the product roadmap: its strategic, technical, and UX components.

  • Managing design, engineering, and marketing resources that are specifically focused on engaging the community of users. These resources are deployed in tasks ranging from optimization of a certain aspect in the Growth funnel (e.g. search engine optimization for awareness) or delivering user-facing collateral like website pages, or content in a publishing platform, or engagement in social media platforms.

  • Conducting research into the usability, accessibility, and scalability of the product as a whole, through direct interaction with its users.

  • Contributing to the management of the communications, partnerships, and community of the protocol.

  • Contributing to the development and management of the documentation of the protocol, its governance process, and its brand identity.

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What are the metrics by which we can evaluate his work before this vote is formalized.

If we can apply metrics to the objectives, that can provide a roadmap for COO/Product Lead and additional role expansions.

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just a few pre-breakfast thougts:

needs some KPIs (how I hate to complete those, but love to impose them)
will this COO remain anon?
what’s @Larry_Cucumber 's role then?

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Is there an organization wide list of roles, responsibilities and budget associated with them?

Would be nice to see how this role fits into the rest of the organization

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I had a similar thought about @Larry_Cucumber’s role then. What’s the differentiation between Larry and the new COO?

Think is probably a good question in any organization hiring a COO

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How was breakfast?

Some good questions here - I think alongside (or even before) finalising this position, an organisational structure with roles and responsibilities is required. It may look something like this:

Larry - CEO - responsible for xxx
NEW - COO
Koffee - Lead Developer

etc. That way we can identify key gaps in the organisation and prioritise filling them.

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I’m interested as to how this will affect the governance process moving forward. It seems like many of the potential decisions to be made by a product lead / COO are the same ones that could be voted upon by governance - e.g. selecting new features to implement.

Will there be any sorts of checks & balances b/t the COO and the governance body?

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I believe Larry is the spokesman, the guy responsible for sending out tweets and babysitting the community on discord, etc.

definitely anon, yes.

@chimaera’s categorization of roles seems to be an accurate one. In a CEO role, I’m going to be the most public facing member of the Pickle team. This includes responsibilities such as business development, community management, and communications in general.

The role that is currently being voted on will be responsible for:

  1. general operations (COO) - taking a very active role in governance (writing and engaging with proposals, snapshot creation, etc), dealing with multi-sig transaction executions
  2. the Pickle product - product development responsibilities should encompass everything short of its actual development (identifying growth opportunities, product/vault strategy ideation, UX, etc)

Hard metrics for evaluating the work for this position I think may be difficult @Jomari. In general, TVL and profits are the way to gauge the success of a DeFi project (and the effectiveness of the resources working within it). However, favorable changes in these metrics due to effective work from a person in this role might not be realized until quite a bit later. More holistic metrics would have to be relied on, such as the effectiveness of the person in this role to shape product ideas which align with the values of the Pickle community and in working with development resources to implement them.

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I can think of some example hard metrics that don’t necessarily ensure TVL and Profits, but can definitely lay a solid foundation of the top of my head.

  • 1 AMA and Developments Call a Month
  • Development of an Evaluation Tool for Strategies (Excel or better is fine)
  • 10 30-minute engagement with potential stakeholders per week
  • Set up or participation in 1 podcast per month
  • Monthly Report and Indicators
    *Increase of Twitter Engagement by 30% or at minimum 5 tweets per day
  • Reply to 80% of product related questions or 20 per day
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Increase TVL x% MoM
Increase Fee Income y% MoM

evaluate strategies and drive implementation of new profitable strategies
allocate budged for audits and implementation

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@Larry_Cucumber it seems the time for community member proposals / applicants for our CPO/COO role has expired. Wen interviews with the hiring team?

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