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General DIF Communication and Feedback Thread (2021/2022 cycle)

Darren

Active member
Dear Dash Network,

The transition to the newly elected supervisors is complete. New supervisors are assuming duties. In my assessment we're able to carry the momentum forward from last year. Please note this thread continues the thread from last year which you can find here. I'm making progress on the Q2 report, but a financial report has been provided here.

My first two priorities on this thread are to:

1. Answer a question I received from another supervisor.
2. Discuss the DIF's balancing strategy.

Previous research by Demelza has suggested that 70% USD/30% DASH is a good balancing stagey. I have asked supervisors to consider two different ways of carrying this out. Supervisors don't seem to have a strong opinion, so why not discuss this publicly.

It is an honor to serve you for a second year.
 
Hi. I sent dash from my wallet Dash Core to Bitfinex. How long to wait for the receipt of money?
 
A new supervisor asked a great question.

“What process do we (the DIF) use to decide to invest”

I answered this question, however I feel like I could do a better job answering this question.

First off, meetings are governed by Robert’s rules. This means that naively all an investment takes is a motion to invest, a second, and four of six to vote yes. Then the supervisors would ask the directors to carry out the investment. Practically, motions to invest need to have more details than just an off the cuff motion.

The process of deciding to invest or not needs to have some flexibility. Each proposed deal could have aspects that are unique to that deal. However, we could break investment decisions into several stages. At any stage, supervisors may decide not to go forward.

1) Introduction
2) Meeting
3) Identify possible partnership
4) Due diligence
5) Negotiation
6) Motion to invest OR motion to decline investment

1) Introduction
Someone contacts a supervisor and pitches an investment. If the supervisor would like to spend meeting time on the pitch, they could email me and I’ll add them to the agenda. Lately, I have have started including “item from the floor” as an item on the agenda. This means that anyone can introduce a new topic in the meeting.

2) Meeting
Generally, we will invite a representative from the investment to a full board meeting. Sometimes, in the interest of time, a few supervisors will meet with a partner and the recording is shared with all supervisors. Meetings with investment representatives usually involve lots of questions that go both ways. We explain what the DIF is and look for what the DIF brings to the table as much as we look at what the investment brings to the table.

3) Identify possible partnership
At this stage we usually identify what amount of investment is appropriate. We ask questions like:

* Does this deal have an appeal specific to Dash, or Dash users?
* How does this deal compare to other options, and unknown options that may come by in the future?
* What benefits does this investment have?
* How likely is it that this business will be successful?

4) Due diligence
At this stage we are looking for anything that is wrong with this investment. This will involve any combination of:

* Reviewing a data room provided by the company
* Putting together “due diligence questions” which are specific to the given company/investment.
* Interviewing key management in the company
* Research on key management of the company
* Evaluating the company’s internal communication
* Reviewing the investment’s valuation in context
* Reviewing competitors to this investments

I have a crass way of viewing this process. It’s like sniffing assholes. Find the worst part of the company, take a sniff, and then convince yourself that "it’s not that bad."

5) Negotiation
This step is skipped when companies are further along. However, for early seed round investment, usually the DIF can negotiate the details of a deal. Supervisors will nominate one person to carry out the negotiation on their behalf. The nominated person is always empowered to come back and say negotiations failed. If things go well, the negotiation ends with a contract for the DIF to sign.

6) Usually after a contract is drafted supervisors will vote to invest. Supervisors then ask the directors to sign the contract as the DIF, and carry out the investment.

At any point of this process supervisors can motion to not continue with this process and the perspective partner is informed the DIF won’t invest if the motion passes.
 
It's a pity the smell test didn't apply to C2Law. Sorry, but the more I think about it the more it agitates me. I would like to hear the other DIF supervisors account of how this came about. Was C2Law an acquaintance of Rodrigo? We are not here to pat the back of our "friends". And I'm not entirely understanding how a retainer with C2Law amounts to a "partnership".

I think it would be in the best interest of the DIF to disengage with C2Law.
 
I am putting the DIF on alert. I have decided if the DIF does not disengage with C2Law, I will take action. Think carefully.
 
A few weeks back supervisors elected @Sven as vice-chair. He has been filling out this new roll quite well

All supervisors have been working hard for the DIF. Sven has just stepped-up to accept more responsibility. For the health of the DIF it is best that we're not dependent on one personality. I expect that Sven will be able to fill my role when I'm unavailable. Sven also is also reviewing our process and resources and making improvements.

Please join me in welcoming Sven to this new role.
 
What a missed opportunity. You had a chance to write romantically and poetically about Chainalysis, protecting dash end users from drug dealers by spying and selling user data to anyone with $$$. But must not upset the apple cart, right? As Sam Westrich recently admitted, improvements to end user privacy is a bit tricky because of regulators. So yeah, just keep associating with scum and hope no one notices.

And btw, there should of been more graphics in the newsletter, and a pic at the top. It breaks up the text and makes it less dry. Why doesn't the marketing team know this?
 
And btw, there should of been more graphics in the newsletter, and a pic at the top. It breaks up the text and makes it less dry. Why doesn't the marketing team know this?

I agree more graphics would be nice. But I need to disappoint you: The DIF does not have a marketing team. Maybe one day, if we do a good job and keep growing, we can afford to have one, but that's still a long way off. For now, the DIF is run by six unpaid volunteers with day jobs and families. If you'd like to volunteer to visually enhance future newsletters, I'm sure something could be arranged.
 
I agree more graphics would be nice. But I need to disappoint you: The DIF does not have a marketing team. Maybe one day, if we do a good job and keep growing, we can afford to have one, but that's still a long way off. For now, the DIF is run by six unpaid volunteers with day jobs and families. If you'd like to volunteer to visually enhance future newsletters, I'm sure something could be arranged.

I see, I was under the impression that the newsletter was initiated by Arden? IIRC it was Arden that announced it on the last quarterly call.
 
I think QE and Taylor are soy boys, and while I see the need to walk the tight rope over regulations, I would push back on the percieved threat and go ahead and implement the good shit, I know what it is and it would make private send bullet-proof and can be elegently merged into our existing code base, makes me so frustrated we are not moving forward with it, but to that end, I also know it is imperative that a coin like DASH vigourously move it's trading as much as possible to decentralised networks that cannot be regulated, shutdown and do not require permission to use. So, at the same time, rushing forward with this enhanced privacy technique could be premature until we at least see a good amount of trading on DEX or two.
 
The newsletter published yesterday was produced exclusively by the DIF. There are other Dash related newsletters.
 
The newsletter published yesterday was produced exclusively by the DIF. There are other Dash related newsletters.
In an organizational communication feedback loop, we can also consider the ... Channels for upward communication include not only a town hall forum where
Web forums serve as communication hubs for people who work ... studies made a general assumption that norms in computer-mediated
 
I just noticed that I did not post our first newsletter in this thread. DIF's first newsletter.

Subscribe to be the first to be updated when our new issue comes out. Every newsletter is published as a standalone website if you don't want to sign up.

Thanks for posting about the dead ipfs link @GrandMasterDash. We've discussed moving the blog to wordpress. I should redirect the subdomain if that's finished.
 
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