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Important Update: How DEEP tokens matter
Adjusting our voting rights, power and ability to influence the organization
Here are the key takeaways from our call:
What do DEEP tokens represent?
⚠️ IMPORTANT: DEEP tokens will NEVER HAVE MONETARY VALUE!
DEEP tokens are a way to visualize how members of the community contribute to the organization's long-term success.
What is DEEP used for?
If you own DEEP, you have access to our governance-related Discord channels and can participate in the conversations.
More DEEP tokens mean higher voting power, giving people more sway over decisions made within the company.
However, DEEP tokens are continually minted, so if someone stops contributing, their share, and thus their voting power, will slowly decrease over time.
Avoiding overpowering by “whales”
Though having more DEEP tokens gives a person a stronger vote, any decision can be re-discussed if any token holder vetoes it (more in the docs). At the current size of our organization, this ensures every token holder can voice their opinion and influence the decision-making process. This mechanism will likely change as we grow.
Deciding on fair amounts
The amount of DEEP tokens awarded for a project can be decided beforehand and adjusted afterward in a retrospective. This ensures that token issuance reflects the actual contribution to the project and the organization's growth.
Updated DEEP amounts
The most immediate changes are that DEEP tokens will be awarded for short-term projects and volunteering work as well and can be balanced out with cash payments from the treasury.
Moreover, user researchers will receive the same amount of tokens as product designers (increased from 2 DEEP to 14 DEEP per project), acknowledging the long-term value their work contributes to the organization.
Retroactive DEEP issuance
If you have observed anyone in the organization doing unrecognized work and think it contributed to the long-term success of Deep Work, you’re welcome to join a session on the retroactive issuance of DEEP tokens on Wednesday, 5pm UTC.
If you have comments or other ideas, please post in the #governance channel, and let’s continue the discussion!
Deep Work Finances
The current amount is not taking into account approximately $4500 for last month’s expenses. For a detailed view of the finances, refer to the finance dashboard.
Planned Expenses for next month:
$2400 for Deep Teams: A significant portion of the budget is dedicated to improving Deep Teams.
$800 software costs: This is set aside for software-related expenses.
Potential projects to be confirmed:
~$4000 for retainer research (TBC): This expense is allocated for retainer research, though the exact amount is yet to be confirmed.
~$1000 Deep Teams design process (TBC): This is an estimated cost for the design process of Deep Teams, but the exact amount is still to be confirmed.
~$700 social media - to be defined: An allocation for social media expenses, though the specifics of this expense are yet to be defined.
The total amount of expenses could decrease our treasury to $4000-5000, so we need to think and decide carefully, especially if we want to plan and organize events.
What else is currently happening at Deep Work?
Regularly review DEEP allocation for documented work.
Issue tokens also on ad-hoc projects. The process would be similar to a funding request.
Find a way to make heartbeat sessions accessible to all time zones.
Org Design Consultancy:
Create an advisory offering for startups and bigger companies.
TEC has sought assistance in scaling their skill sets.
The next focus is on Portugal - “Fool’s Valley“. Follow it on Instagram.
There's an exploration of the org design sprint with Gitcoin PGF. Details in Discord.
Deep Work Studio:
Improve the process for project onboarding, setup and completion.
Emphasize and explore business opportunities with generative user research.
Two projects have been confirmed and are about to commence.
One branding project with a heavier research focus is in the pipeline.
Review the full branding process and restructure our offering.
Integrate Mitul into the process.
Clean up design files and establish a smooth design process.
Since last month, Lucia has been a representative of the Awareness Team! She organized the awareness docs, set up initial processes for social media posts, and pushed the boundaries of how we can reach our audience.
And most importantly, she’s awesome to work with!
Establish a process for recording podcasts to Spotify and explore more streamlined social media content creation with AI tools.
Explore opportunities with Devconnect in Istanbul.
We have the capability to create a week-long experience, we can discuss where ti host it and how it could look.
Based on conversations from MetaFest, user research in the Web3 market is highly underrepresented. As well as project management and facilitation skills.
Research and Development:
Conduct research on the retainer model for the Deep Work Studio and understand how we can provide long-term value to our past clients.
Events we might be attending:
Currently in the planning phase. Let us know if you are interested in joining!
Thank you for sharing your ideas, concerns, and thoughts. It’s exciting to be on this journey with you all. Have a nice week ahead and see you soon!