Preface – Remembering What Sushi’s Community Means:
As a DAO, Sushi’s community is an integral and required component for Sushi to function. For Sushi to continue developing services and products that benefit us as users, and as stakers while also bringing more DeFi-degens into the fold, it needs the community to have a presence – both as governance voters and contributors.
In order to have a voice and make informed decisions, the community needs insight into the protocol. Without the community involvement, Sushi simply becomes a company that provides a service. It loses the power of many eyes scrutinizing, criticizing, and cheering for Sushi as it develops innovative new solutions that benefit DeFi as a whole. The community is a valuable resource not just because of the direction it provides, but also because of the feedback it provides rather than being a company of devs and VC funds working in a vacuum. But as we know, Sushi must act as a strong competitor. It must bring services to the DeFi-table that shock and awe the ecosystem and leave competition racing to catch up. The two most powerful ways for Sushi to capture a larger share of DeFi are by being first, and by being better.
This in part is why we need a Community Oversight Committee. To gain a competitive edge, some aspects of Sushi must necessarily be acted on quickly and with details obscured from the general public. The Community Oversight Committee’s function is to provide the community with trusted eyes within the protocol. Representatives that the Community elects work side-by-side with the Sushi Team to ensure actions taken are in the best interests of each of us as stakers and users of the protocol.
Community Oversight Committee's Role:
The Community Oversight Committee is chiefly tasked with overseeing matters of the treasury, budgeting, compensation distribution, conflict resolution, performance reviews, strategic direction, and providing the community with a channel of communication to direct concerns, and all other important dialogue.
This basically means members of the COC will have the power within the Sushi organization to act on behalf of the Community in manners where we need a presence, or our intervention could be necessary. Their primary job is to be present, observe, and engage on the Community’s behalf. They will keep an eye on the bigger picture as well as any new implementations. They will work for the Community so the Sushi team can work on their primary objectives. The COC will also be available to assist the team when community insight is needed to determine whether or not something belongs to the Sushi path.
How the COC Will Perform These Duties
Community Interaction – Each member of the COC will attend, at a minimum, one community call per month in a speaking capacity to answer questions put forward by the community.
Snapshots – The COC will ensure items passing a temperature check on the Forum, will make their way to snapshot once they have gone through an internal review.
Internal Revue of Proposals – after a successful temperature check on the Forum, the COC will participate in determining if the item poses any platform risks, can generate revenue or protocol growth, the projected timeline to deliver, and resource requirements (devs/costs/marketing/etc).
Treasury – The COC will be required to sign off on any Treasury wallet transactions. This means they will likely each hold a spot on the multi-sig for this wallet. They will not participate in the Operations wallet, however, which is used to handle day-to-day operations.
Budgeting – The COC will review and approve the annual budgets put forward by the CFO/COO (or whatever title we land on). Granular details like compensation for non-management roles will not require the COC approval as it comes from the agreed annual budget expenses.
Conflict Resolution – The COC will have the ability to suspend an employee deemed to be acting in bad faith or failing to comply with its authority as outlined. The COC and the Sushi Team will then look to resolve the situation, and if no agreement can be reached, the COC will put it to a community snapshot vote.
How Many Members? Term Lengths? Etc:
The number of members has yet to be decided. Pocketsquare, in his document, has recommended 4 members sit on the committee initially. Term lengths for each member would likely be 1 year. The members will, naturally, be elected by a snapshot vote. The members will present themselves at a community forum call and jump through all the usual hoops to demonstrate their suitability for the role. They can be re-elected as many times as they wish, community support pending. The members of the COC will be given compensation at a level deemed suitable by the Community.
Further Reading for Degens:
This outline of the Community Oversights role is based on the current documentation put together by Pocketsquare who has been working hard to formalize aspects put forward in Jiro’s Sushi 2.0: A Restructure For The Road Ahead.
You can find his detailed breakdown here: