EVM Rocket Pool oDAO meeting 5/12/23

EVM Rocket Pool oDAO meeting 5/12/23


Austonst - leading meeting
11:02 - background on what lead to this meeting (proposed on r/ethfinance, waq promoted & offered bond)
11:04 - organizational structure
RP - runs oracle node, vote on protocol upgrades
EVM joining would be 1st collective to join oDAO
Rocket Scientists collectively part of oDAO but Ken is trusted person to run node & execute
oDAO node controlled by single wallet
Automates reporting price of RPL, does this automated by software running on node, transacting multiple times per day
Multisigs -

The NO has access to the entire key (no multisigs)
Equally reward all the oDAO contributors
Jasper-
Cron- volunteer and contribute a lot to oDAO
Uses splitter contract to split rewards (OxSplits contract, non-locked to add/remove members)
-use 5-6 Eth/yr due to all the transactions taking place onchain (maybe more w/ current gas prices)
-one person submit RPL bond, another person NO
-no RPL rewards, strictly a bond, no interest or rewards,
—slashing punishes whoever put up the bond
-votes come up, analyze code in a contract b4 voting
-Ken has a guardian role, but should vote w/ Rocket Scientists
—if Ken goes rogue, other Rocket Scientists
-major role of oDAO members is analyzing code
-oDAO should help integrate rETH into DeFi
-there is a dashboard as a RP NO to turn on to see how oDAO members are performing (don’t need to be an oDAO member)
-do need to run an Archive node as an oDAO member
- There is a service ≈$100/mo that most oDAO members use
- Only keeps 28 days of archives???
-oDAO running on a dual NVME NUC9, soon-to-be three 8TB drives
-rate of pay to oDAO members are working to reduce pay
-working on automating oDAO roles to become fully trustless
-what is oDAO members looking for when it comes to EVMs joining
- Draw the relationship w/ what skillsets we have to align w/ RP protocol
- Bankless, Superphiz, Sassal - part of oDAO for marketing
- Other members include client dev teams (since RP )

Org structure
- Single person runs archive node, oDAO NO
- Council having a multisig would be neat
- Backup members

treebeard (via #?rocket-pool-odao)
Things to figure out at a very high level:
- the pitch itself
- submitting votes via multisig
- archive node failover I think I heard that mentioned? I've heard they prefer that we run this at home not using a cloud provider, and outside of the US. But yeah also figuring out who would run this
- council size, voting process and rules. Can the council change, additional collateral requirement, etc.
- how the rewards would be used


Further commentary on second half:

I'll elaborate on the second half just a little. We discussed organization structure, covering options in the full spectrum from having one dedicated node manager to trying to implement some kind of direct link between EVMavs snapshot votes and oDAO votes. The latter doesn't seem like it will be particularly popular with the Rocket Pool community, sounded like we're leaning towards having some sort of oDAO council, possibly still with a need for one person to have ultimate node operation responsibility.

But we also agreed that it sounds like the Rocket Pool community and oDAO are less interested in novel governance structure, and more interested in what skills and value we can provide to them. Had some discussion around how oDAO seats have often been given specifically as a reward of sorts to those who have already contributed greatly to the project, further emphasizing the need for us to provide value to them (defi? rocket school?).

We laid out a general goal of trying to get in touch with more oDAO members to hear what they're looking for in new members, generally to figure out what we need to prioritize in an application. Hopefully we can keep the discussion going throughout this next week! treebeard's notes are also good if anyone wants a topic to put some work into (⁠🚀│rocket-pool-odao⁠).