Transparency
TEC AUDIT REPORT 0001
TRANSPARENCY WG Period: January 01 - March 31 of 2022 Presented: 04-may-2022 Contributors: Zeptimus, Iviangita, Ratio13, enti, EFRA
1. Processes
This section covers the cultural procedures that are relevant to the community at large.
1.1. The Advice Process
The TEC is a Do-ocracy, using the Advice Process as the first step to any decision. When someone needs to make a decision that affects members of the Commons, they seek advice from other TEC members and those with expertise. Taking this advice into account, the decision-maker decides on an action and informs those who have given advice.
The information on the use cases of the Advice Process is documented and accessible through the TEC Handbook.
Proposals and decisions that went through the Advice Process are here.
Status: Active
1.2. Submitting funding and cultural proposals
1.2.1. Funding proposals
When requesting funds for projects that aim to advance the field of Token Engineering and are aligned with TEC’s mission, vision and values, an individual must submit a proposal to Conviction Voting.
For financial requests that will be submitted to Conviction Voting, proposers must get a signal from the community by sharing their proposal for the Community Advice Process at least a week prior to submitting it to the DAO. Once the feedback received (if any) is revised, they can move it to the Proposal section in the forum and then to the Conviction Voting app on-chain. All Conviction Voting proposals should use this template.
The terms & conditions for submitting funding proposals are documented and accessible here.
Status: Active
1.2.2. Cultural proposals
Cultural proposals that don’t require funds and can be resolved in two weeks can be submitted for Advice Process, if there is a general feeling of awareness and acceptance by the community on what is being executed. A cultural proposal should stay open for advice for up to 2 weeks. After this period, it should either be marked resolved with updates, or moved to the proposal section to be sent to Snapshot.
This information is documented and accessible here.
Status: Active
1.3. Onboarding and offboarding stewards
The purpose of having a process for onboarding and offboarding is to define clear boundaries around stewardship roles in the TEC. Offboarding is not necessarily a permanent action. Former Stewards are welcome to return when their personal and professional obligations permit.
The process for onboarding and offboarding stewards is documented and accessible through the Stewards WG Manifesto.
Status: Active
1.4. Requesting credentials
Some of our contributors may need to request access to TEC accounts on these platforms so as to efficiently perform some tasks that are necessary for our operations and will help us push our mission forward. The Transparency WG built a simple process for contributors who would like to request access to TEC platforms.
The original process was presented to the community in August 2021 and was revised in January 2022 as the Transparency WG stewards found some areas for improvement. The updated process is documented and accessible through this forum post.
Status: Active
1.5. Praise quantification
Praise Quantification is being done to turn the praise received by every individual into $TEC as a form of reward for their contributions to the TEC. The complete Praise Quantification process involves a series of steps: onboarding quantifiers, placing them in a pool, randomly choosing a number of quantifiers for each praise quant period, and the actual quantification that is being done on the Reward System Dashboard.
This current process is totally different from the old process from 2021 in which only 3 select people were quantifying the praise manually on a Google Doc sheet. The new process started in January 2022.
The detailed Praise Quantification process is documented and accessible to the community in this forum post.
Status: Active
1.6. Moving funds through LASERTAG
Allocations of $TEC from the Initial Buy-in for both the strategic partnerships and secondary market liquidity use cases will be custodied together by an entity known as the Liquidity And Strategic Employment Requests Token Allocation Group (LASERTAG). LASERTAG comprises 7 members under a 4 of 7 Gnosis safe multisig required to authorize the disbursement of tokens.
The purpose of LASERTAG is to execute the terms of all proposals that specifically address the funds in that multisig and successfully pass via Snapshot.
This process went through a transparent voting process and is documented here.
Status: Active
1.7. How to Purchase $TEC
$TEC is a token that is native to the Gnosis Chain, and can be purchased directly with wxDAI (wrapped xDAI). There are many ways to get the wxDAI tokens you’ll need to purchase $TEC.
The process of acquiring $TEC tokens is well documented and easily accessible to anyone in our Gitbook.
Status: Active
2. Voting Schema and Results
The Commons utilizes various voting methods. These include: Single Choice, Ranked Choice, Conviction Voting and Tao Voting. In the sections below these methods will be defined as per the TEC Handbook or platform of choice. Additionally the sections below will explore various measurements, primarily Average and Median values, for the various voting schemes based on data collected from the two primary platforms in use; Gardens and Snapshot. Quadratic voting is currently paused until an identity solution can be implemented.
The reference document for metrics and results can be found here:
The active Decision Tracking document is here:
3. Funding Pool Reserve & Fund Movement
This section goes through the financial specifics pertaining to internal accounting and treasury management.
3.1. $TEC
1,571,223.57 WXDAI were sent from the hatch to TEC and the balance after it is split in 3 pools that on date 31-Mar-2022 looks like this:
Note: ABC reserve is $1,117,599 and the Gitcoin grants with over $13,000.00 in multiple tokens will be sent to the Common Pool.
3.1.1. Revenue Inflows from ABC
Total revenue for this period was $206,701.18 but there is a notable decrease over months Jan-Feb revenue decreased 98.58% and the next month Feb-March decreased 72% respectively.
3.1.2. Common Pool Outflows
TEC total outflows from this quarter is 283,686.00, that means all the money that came out from the common pool. (Note: that doesn’t mean this money is already used this will be more detailed in 3.2, 3.3 and 3.4.)
3.1.2.1. Operations
3.1.2.2. TE Projects
3.1.2.3. Rewards
There were no rewards distributed during this period.
3.1.2.4. LaserTag
Initial balance of LaserTag was 118,781.23 TEC from the initial buy and 0.8 WETH from Optimism Retroactive Public Good Funding.
3.1.2.5. Others
3.1.3. TEC Performance
TEC Treasury at the end of this first trimester is $1,250,114.66 and the profit and loss balance is -$76,984.82.
3.2. TE Projects
In this section we will be accounting every proposal that runs under the category of TE Public goods in the TEC.
3.2.1. TE Fundamentals (TE Academy)
This proposal was created 25-Jan-2022 asking for 50,000.00 WXDAI and the money flow can be checked here.
TE Academy is building the first bachelor-level education program and NFT-based certification, open job-boards and matchmaking activities for projects seeking Token Engineering expertise. Via this offering, we’ll define standards for this new discipline. Additionally, NFT-based certification opens the door for new value flows in TE education and research.
This proposal is sharing Weekly progress on the community call and has milestones for the year that can be checked here.
Milestones accomplished during that period:
More than 1000 sign-ups
Alpha testing groups
Discord onboarding
Partnership with Consensys.io
Token Engineering website updates
3.2.2. Gravity WG 6 month funding proposal
Gravity asked for 51,000.00 WXDAI on date 01-Feb-22 multisig is holding 39,950.00 XDAI on date 31-March-22. That’s 11,050.00 XDAI spent in this period. It’s keeping track of the work using DeWork and with updates on the forum.
Gravity’s mission is to foster the practice of nonviolent communication, empathy, understanding and management of conflicts in decentralized communities, to facilitate human coordination and build a culture of trust between peers. Gravity aims to be its own commons in a year and TEC is bootstrapping the economy.
Milestones accomplished during that period:
Mediate 4 cases
Preparing graviton training materials and communication strategy, check out this article
Reaching out and supporting other communities and being a referent in the field of conflict management
Running a Book club: Who do we choose to be, by Margaret Wheatley
Running Liberating structures practice group weekly in the TEC
3.2.3. TE Consilience Library - 0mega WG
This proposal was created 04-Mar-2022 and did not move any funds yet.
This initiative of the 0mega WG will create a 3-phased multidisciplinary library on token engineering to provide a learning and research environment for our community and a “living log” of the co-creative process emerging in Omega.
This funding proposal is to facilitate the first phase. In the first phase 0mega WG contributors will build a library that has curations from subject matter experts with a multidisciplinary approach. In the second phase, we will open the library to public contributions. Also, we will reward quality contributions at that stage. If the library is liked by the community we will initiate phase three which will bring further development in UX.
This proposal will keep accountable to the community with weekly 0mega Working call, and updates on forum.
3.2.4. TE Academy (Comms T.E.A.M. WG)
TE Academy T.E.A.M. asked for 8,840.00 WXDAI on date 14-Feb-22 multisig is holding 2,850.00 WXDAI on date 31-Mar-22. That’s 5,990.00 WXDAI spent in this period. It’s keeping track of the work using DeWork.
Milestones accomplished during that period:
Twitter Planning
Discord Planning
Meme creation
TEA local hubs presentation in Spanish.
Create visuals for TokenSPICE
Networking on different events offline and online
Pins created for TheDAOist TEC and TEA and distributed them
Photos in the DAOist mexico
3.2.5. Translations (Comms T.E.A.M. WG)
This proposal was created 14-Feb-2022 and asked for 4.230,00 WXDAI and did not move any funds yet.
The goal of this proposal is to translate some articles and make TEC more accessible from other languages. The articles that are being worked on can be tracked here.
3.2.6. Twitter Planning (Comms T.E.A.M. WG)
Twitter Planning T.E.A.M. asked for 12,500.00 WXDAI on date 08-Mar-22 multisig is holding 8,948.00 WXDAI on date 31-March-22. That’s -3,552.00 WXDAI spent in this period. They’re keeping track of the work using DeWork.
Milestones accomplished during that period:
Maintain and upload our Twitter
Engage with the community on Twitter
Create designs for different types of content
Facilitate the creation of memes on the meme channel
3.2.7. NumFocus Donation
This proposal was created 10-Mar-2022 asked for 25.000,00 WXDAI and did not move any funds yet.
NumFocus is a non-profit that provides funding and support for the open source organizations which maintain this software, but these organizations are criminally underfunded by the web2 organizations which profit massively by their use.
A 25,000 xDAI donation to NumFocus was given with the guiding principle of funding small developer grants and special projects aimed at growing the intersection of token engineering and open source scientific computing software, a guiding example of how web3 doesn’t just talk about supporting open source, we do it!
This initiative will keep accountable to the TEC posting on our forums after 6 months.
3.3. Operations
In this section we will be accounting every proposal that runs under the category of operations in the TEC.
3.3.1. Transparency
Transparency asked for 16,956.00 WXDAI on 26-Jan-22 multisig is holding 9,630.25 WXDAI on 31-March-22. That’s 7,325.75 spent in this period. They report the community asking for the monthly budget on the Transparency funding proposal.
Milestones accomplished during that period:
Build Dune Dashboard
Build this first audit (tracking decisions, and multi sigs)
Digital security management and track who have access to what here
Coordinate and facilitate communication inside the stewards in different topics
3.3.2. Stewards
Stewards asked for 47,250.00 WXDAI on 27-Jan-22. The multisig holds 22,750.00 WXDAI on 31-March-22. That’s 24,250.00 spent in this period. They report to the community asking for the monthly budget on Stewards monthly compensation on a Discord thread.
Milestones accomplished during that period:
Facilitate coordination between projects and working groups
Weekly stewards sync
Bi-weekly retrospective call to celebrate good job and see where we should improve as a commons and take action, followed by sprint planning
Bi-weekly Council where the stewards discuss different topics that concern the cultural build sustainability of the commons
3.3.3. Communitas
Communitas asked for 46.410,00 WXDAI on date 01-Feb-22. The multisig holds 31.822,00 WXDAI on 31-March-22. That’s 14.588,00 spent in this period. They report to the community asking for the monthly budget on Communitas monthly compensation on a Discord thread.
Milestones accomplished during that period:
Reach out to every single member joining the TEC discord and support them on the onboarding journey
Discord onboarding journey
Weekly orientation call for new members and Lounge space to hang out to foster trust in the members of the community
Reach out to hatcher when votes where needed
Token Engineering is the Future of Organizational Design medium post
Creation of Writers guild: 3 Articles in progress
Presentation for TE Academy’s Intro to Token Engineering.
3.4. Others
In this section we will be accounting every proposal that runs under the category of Others in the TEC. Here we will include some operations that are not in the regular expenses to run the commons.
3.4.1. Hatch Bot NFT in Metal
This proposal asked for 5.500,00 WXDAI on 25-Jan-22. And this proposal is already completed and delivered.
This proposal was about shipping a physical version of the Hatch NFT to those who acquired it.
4. TEC Analytics
Below is a video that walks through and explains April analytics on the Dune Dashboard, make sure to check it out!
5. Governance tokens
This section goes over the amount of $TEC tokens held by TEC Multisigs, top $TEC holders and the tokens available on secondary market makers.
5.1. Overview
Information taken on Apr 4th 2022 - 16:06 UTC.
Total Supply:
2,449,107.32 $TEC
TEC Multisig Addresses:
Top 30% Holders (Incl. TEC Multisigs):
Top 30% Holders (Excl. TEC Multisigs):
5.2. Liquidity on secondary markets
Information taken on Apr 4th 2022 - 16:06 UTC.
$TEC Liquidity on the top 3 Decentralized Exchanges in Gnosis Chain:
6. Resources
Last updated