FreeRossDAO – August 5th Community Call – Transcript

by | Aug 5, 2022

0:19 – Premeeting
1:40 – Meeting Start
2:10 – Book Club Updates
3:00 – Media Watch Updates
3:35 – Social Pod Updates
4:10 – Treasury Updates
7:00 – Reform Pod Updates
9:40 – Project Status Updates
13:35 – Wrapping Up


Host:
Hi, Jess. Hi, Jinxy. Hello, Matt. How’s everyone doing this morning?

Matt:
Howdy, everyone.

Jess:
All right, so we’re going to do our best to stick to the agenda deck this week. Which means we’re going to go in the order of announcements, old business, new business, project status updates, and then the AMA format that we always do, if that works for everybody. Announcements this week is all social pods, so I’ll handle those.

Jess:
This week at book club, we covered two of Ross’s writings called The Next Seven and Who Deserves This? And we actually used her Twitter space to do that. We’re going to workshop that a little bit. The Twitter space was nice, but we still ended up clicking back and forth to the Discord for our participants who didn’t want to speak publicly, they just wanted to type to us. So the Discord space, the stages, we might go back to that because it was much easier for everybody that normally participates to participate. And what we might do instead of having a whole Twitter space dedicated to book club, is just have an extra one to discuss it.

Jess:
Media-watch parties this week, we watched 13th, which is a Netflix documentary about the 13th Amendment, which is about prison slavery. Not a lot of turnout for that one, but everybody can watch that on Netflix on their own time, and we can still have a discussion about it whenever somebody wants to.

Jess:
The other thing social pod did this week was add a zero to all of our bounties that are currently on the bounty board. So if a bounty was previously that you would get paid out 1,000 free. Now you get paid out 10,000 free for that same bounty, which means the hashtag FreeRoss bounty that I have up right now, now pays up to, I think, 200 K free if you tweet FreeRoss every Friday.

Jess:
For old business, we actually have Yuni ready to go and talk about the treasury.

Yuni:
Hey folks, happy to be here. My role as a refresher is that I use some of our treasury assets to try and generate new income so that we can fund operations for the DAO as long as possible. At a high level, what we’re doing right now is that we look at three different assets to be a store value for the DAO. We look at holding Bitcoin, Ethereum and Stablecoins all as ways that we can serve store value over time to pay contributors.

Yuni:
Right now, the majority of our treasury assets are being used for yield farming on Uniswap version three, in what’s called a concentrated liquidity position. So we’re aiming to earn between money and [inaudible 00:05:17] 50% return if we are in Bitcoin terms per year on those positions. And so on average, we’re generating a couple of Ethereum and close to 3.4 new Bitcoin every month, based on the amount of treasury assets we still have in the treasury. And that number has been going down slowly over time as we fund the different DAO proposals.

Yuni:
I’ll do a quick pause here and see if anyone has questions or areas they want me to get a little bit deeper on.

Jess:
If anybody wants to request the mic real quick, I’m happy to grant it. Okay. I will take that as a no.

Jeremy:
I’m sorry, are we going by an agenda? Is it an open form right now or what?

Jess:
I’m trying to stick to the agenda, but you are up next if Yuni is done. Because old business, we would need Risen for quarterly budget reporting and Schlomo for NFT sales updates, but they have not gotten here yet. So new business, solidarity network proposal.

Jeremy:
All right, well, I guess I’ll go. Okay. So for those folks who haven’t been following this, we have a Reform Pod as one of the working groups as part of FreeRossDAO. And we’re involved in criminal justice performing on changing the prison structures and all that type of work.

Jeremy:
We have a proposal that has been in draft status for the past month, but I believe it is now ready to be shown to the review council and follow the procedures in our constitution to advance this proposal to the next step. It’s got to go through the review council, then the advisory council, then it’s got to go to Snapshot for voting. There’s a link to the proposal on the Discord channel Reform Pod. I tweeted it a little bit.

Jeremy:
There’s also a second Google Docs article having to do more with some notes and comments, as far as implementation details. We’re working on developing some type of online collaboration system that would allow us to keep track of campaigns, sponsored groups, and action items, as well as a system to allow people to nominate future campaigns, future actions. And we’re going to put that behind some type of token gate for FreeRoss, I’m sorry, for free holders to use.

Jeremy:
And this is kind of just like an implementation for the DAO that’s transparent. It uses governance tokens and is just kind of another way of doing things openly and transparently. And it’s going to feed into the action items, the bounties. So ultimately we’re going to see more activity, more outwards advocacy around police and prisons. They’re going to throw some bread to some sponsored organizations and hopefully get some wins. Get some wins on some of these action items.

Jeremy:
So if anybody wants to get involved with that, there’s a Reform Pod channel in the Discord. I believe, at this point, we could probably pass the proposal to the review council. Other than that, I believe that’s it. If anybody wants any examples of some of the campaigns and action items, of course we continuously talk about these type of things in the Reform Pod. And I believe that would be it for the Reform Pod. If anybody has any questions or comments, this would be a good time to.

Coconutfish:
I just had a quick question if that’s okay. It’s somewhat related to the last two topics. The website and stuff from proposal eight, is there any update on that or do we know how that’s going?

Jess:
Oh, look at that. We’re sticking to the agenda still. Next up is project status updates. We have seen some results from the branding and marketing update. It does seem like that will be getting pushed through completely at the end of the month. We’ve seen a guidelines deck that is almost finished, and I have a rough idea of what the site will look like when it’s complete, from the team that is working on that. I just think they need a little bit more time.

Coconutfish:
Cool.

Jess:
It’ll be cute for all of our stuff to have a uniform look to it. And the NFT marketplace is also a part of that project, as far as I know. And that’s all I really can say about that, because I’m not specifically on those teams. But if anybody has any questions about anything we talked about, wants to keep talking about anything we talked about, now would be the time.

Jeremy:
Unless there’s another agenda item, I just want to also put it out there, in case it hasn’t already been said. This week there was an important announcement from the FreeRoss Trust and their Art For Giving charitable foundation. Art For Giving, from the proceeds of Ross’s NFD, Art has raised a significant amount of money. $50,000 has been given to the Girl Embracing Mothers Fund, which is in a nonprofit having to do with strengthening bonds between daughters and their incarcerated mothers and arranging prison visits for folks in Texas prisons. That was a major win. That was pretty amazing. And it was all made happen, all made possible because of the proceeds from Ross’s NFT Art. So that was a major win, and let that not be said this week.

Jess:
The Art For Giving program is such a cool little thing that they’re doing. I think they’ll have a big impact on people’s lives.

Jeremy:
Yeah. And they also have listed a few other groups on the Art For Giving subsection of the FreeRoss website, having to do with other groups that it appears that they are going to be soon supporting, including Assisting Families Of Inmates and the prison entrepreneurship program. So they’re obviously a separate organization from us. Ours is the FreeRossDAO, decentralized autonomous organization. We’re friends of friends, but we also have some other projects in the works. But this is good to see this outwards advocacy and material impact that his NFTs has made that Ross is… It’s amazing that he’s able to make such waves from even within prison.

Jess:
Absolutely. Well, that is everything on the agenda from everyone that showed up to talk about their topics. So if everybody’s good to go, let’s get out there and tweet FreeRoss, claim those bounties.

Jeremy:
Hype, hype, hype, FreeRoss.

Jess:
See you all next week, everybody.

Jeremy:
FreeRoss Friday, everybody. See you all.

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