With help from the Zcash community, the founding ZOMG committee has done a quality job standing up the organization from scratch (establishing a website & twitter handle, publishing a whitepaper of intent, standardizing processes, and processing >40 grants with diligence).
Despite the great start, there are a few things that could be improved in the next term to increase the sustainability of ZOMG. The goal of this post is to gauge community sentiment around these amendments, because if we want to put them into place as a community, we would need to amend ZIP 1014.
Therefore, I’m posting as a community member with intimate knowledge of the ZOMG, but not on behalf of the ZOMG. Furthermore, I have no self-interest in these matters as I will not be running for ZOMG re-election.
— The communicated time commitment for ZOMG members of 5 hrs/month, or ~1 hr per week, is far too little. At a minimum it should be 4x’d, to 5 hrs/week, 20 hrs/month. There are existing members of the ZOMG that feel this is still understating the required work.
— Alongside the bump in time commitment, should be a bump in pay from the current $500/month. Since this pay is opt-in, people can still opt-out if they’d like (as I did). Most people are not going to be large ZEC investors, and so I would at a minimum match the increase in salary to the 4x in communicated time commitment, but depending on the seniority desired and true time commitment needed, it may need to be higher.
—It would be useful to have a way for the ZOMG to approve resources to itself to pay for contractors, perhaps with an annual $ cap to limit the downside-risk of a self-dealing ZOMG. This allows the ZOMG to continue to invest in its own evolution. At a minimum, it should be acceptable for the ZOMG to put out bounties for work that it needs.
Longer run, I think there are questions that should be addressed like:
-How should ZOMG manage its treasury? Is it trying to spend all the ZEC it’s given each year, or is it trying to manage a treasury to last for decades (ZEC inflation only decreases, so now is the time to accumulate ZEC). Diversification of assets?
-How should ZOMG relate to the ECC and ZF? Right now it’s nested under the ZF, which helps operationally, but also exposes it to the same meatspace regulatory risk that the ZF may or may not be subject to – a DAO is messy, but increases the overall operational resilience of Zcash.
For the ZOMG to become a DAO is a heavier lift, where a number of questions like payment execution, key control & turnover, ZOMG member liability, and audit & evaluation of milestones would all need to be answered, but I think it’s something that should be worked towards. Giving ZOMG members more resources into the next session of ZOMG would be useful to that end.