Search
K

Past Senate Meetings

This page contains dates & agendas of past Senate meetings to maintain full transparency and accountability to the Kujira community. Minutes are ordered in reverse starting from most recent.
August 9, 2023 Senate Meeting 30: The Senate sent 20K axlUSDC as payment to A10 capital for Blend's audit on August 7th. We also decided to DCA half of the Treasury's 125,000 MNTA to KUJI at a rate of 500 MNTA per hour and LP the KUJI with the remaining MNTA on BOW. The Kujira core team started negotiating with Chainscope. We began our first week of due diligence on Sycamore--two more weeks would be needed before being able to proceed with the process. And Gelotto submitted a grant application to the Senate as well.
August 2, 2023 Senate Meeting 29: The Senate discussed using the remaining 85% of funds to create a bounty for other builders to come in and finish building out the third and fourth milestones for Ghost Games as the first two project milestones were eventually soundly completed. As the Manta/Stargaze treasury swap was likely to complete, MantaDAO wanted to increase their MNTA/KUJI protocol owned liquidity up to $200K as a main route for the protocol. The Senate discussed ways to possibly use their 125K MNTA to either help LP, turn it into stables or KUJI, etc. The Senate decided to catch up with Blend Protocol on the status of their audit and further details on their development. We decided to decline BetFi's grant proposal as they failed to respond to showing up for a meeting to present and essentially ghosted us. The Senate financial report was overhauled and was being reviewed by various members. We decided to ask the Kujira Sentinel about ways to look into having them source high quality devs that the Senate could refer to. Finally, we reached out to the team about Chainscope.
July 26, 2023 Senate Meeting 28: The Senate discussed possible changes to its proposal evaluation structure and milestone payments system after realizing that Ghost Games was having difficulty delivering high quality milestones due to the hired developer. Thoughts included closer reviews of front end and back end work, a need for multiple recommendations for dev work, careful review of relevant legal/regulatory landscape in their domicile, etc. We also decided to establish closer communication with the team on project related development/review. We decided to create a proposal to request another $250K KUJI from the community pool part of which would go towards funding BLEND and paying Mike for its audit (and to avoid asking the community for new funds multiple times in short succession). We discussed scheduling a call with BetFi to have them pitch their project as they seemed interested in launching on Kujira. Finally, we were interested in Chainscope (formerly Terrascope), which had began talking with the Kujira team.
July 19, 2023 Senate Meeting 27: Senators finalized the decision to continue as 8 members rather than as 9 as there was no negative community feedback. Therefore, we reached out to Hans to lower the multisig voting threshold. We discussed progress around Ghost Games towards completing their second milestone and decided we would wait to hear an update after seeing the front end and hearing back from Friendly Ghost. The financial report received various corrections and we decided to add a section describing progress of funded projects. Furthermore, we appraised Sycamore's grant application in detail, and decided to keep a $100K buffer for stables to be able to fund new projects with before resuming DCAs to increase the Treasury's stables.
July 12, 2023 Senate Meeting 26: We discussed some initial feedback from the community concerning the need on whether to hold Senate elections to bring the number of Senators back to 9. The community seemed receptive to lowering the overall number of Senators and assuming the feedback would continue to be receptive, we decided to then reach out to the team in order to lower the threshold for the multisig in order to pass votes from six to five so it would reflect one less person voting. We discussed the possibility of creating a consulting relationship with the Kujira sentinel to seek feedback on technical aspects of Senate work. Finally, we discussed internally about a potential threshold for how much we'd like to hold in stables to be able to dispense to new projects and on whether to initiate a new DCA since the current DCA was sent to finish in two days. Dan updated the grant application for Sycamore mentioning the inclusion of Kujira dApp support and we were waiting to see the accompanying application before making further decisions. Finally, we discussed possible new additions to the Senate financial report and discussed details of the Senate model such as the Constitution, etc.
July 5, 2023 Senate Meeting 25: We discussed interest from Y-Foundry. They are currently waiting on community feedback before taking steps to submit an application. On the topic of the Senate elections, Senators decided that it's easier to come to an accord and get things done with eight members than with nine. Since the Constitution as is says to hold an election within 3 months if there are fewer than 9 members, we decided to gauge community feedback before further discussing the topic. The Senate quarterly financial report draft was shared--the first version seems to be a semester report. The Senate began considering a supplementary 6 month report. Finally, the Senate discussed the possibility of using CALC Finance's new scaling optionality for more sophisticated DCA strategy.
June 28, 2023 Senate Meeting 24: Senators discussed Sycamore's proposal and decided to wait for Defiant Labs to submit a 4th milestone that includes FIN, ORCA, GHOST, BOW, CALC, etc. We discussed the possibility of the Senate incubating an RFP model system for 3rd party functionality where the Senate would create requirements for needed 3rd party functionality and put this up for bidding where others could on requests and the Senate would select the seemingly best equipped team that would be willing to operate at a relatively lower cost to create the quality product. We also discussed alternative ways to fund projects and keep the community fund sustainable such as Pilot launches with Senate participation and project evaluation.
June 21, 2023 Senate Meeting 23: The Senate met with Fabrizio to get further detailing about BLEND and receive a walkthrough of their tokenomics. Despite attempts from several Senate members, the Senate was unable to push for additional token benefits for the community or community pool through airdrops or seed round allocations. However, the Senate is still very supportive of the project and voted unanimously to fund it. Thankfully, we were able to discuss including revenue share via an Alliance-like mechanism.
June 14, 2023 Senate Meeting 22: The Senate discussed creating a quarterly financial report for the sake of transparency. Senators discussed treasury management and decided to launch another dollar-cost-average strategy using CALC Finance for another 30k KUJI over 30 days. Blend discussions continued with Senators pinpointing nuances surrounding grant funding and PILOT fundraising. The Senate tentatively considered simple investment strategies and basic fund management. Finally, we were approached by an NFT marketplace that wanted to gauge Kujira Chain's appetite, but this will be further discussed at length with the team as early discussions have excluded this type of protocol for architectural overhead related reasons.
June 7, 2023 Senate Meeting 21: Hans & Amit have checked the Ghost Games smart contract (pre-testnet), so the Senate will provide 3750 axlUSDC to fund work on milestone 2 (the front end) next. Senators discussed how to increase proposal visibility including using specific chats. They considered ways to share their opinions on votes in forum posts, on-chain in proposals, or in a spreadsheet for record keeping purposes. They discussed weekly rotating tasks for public transparency & comms involving Twitter & more. Finally, Senators began planning the upcoming election.
May 31, 2023 Senate Meeting 20: Mike came on to present MantaDAO's detailed liquidity strategy and provided context around his thought process and goals. Senators, armed with community feedback, considered various pros and cons of different approaches and continued the overall MantaDAO grant discussion over the course of 70 minutes. The Senate is keen on funding the grant.
May 26, 2023 Senate Meeting 19: Rekt Quests came on to present their product in detail to Senators. Senators discussed various nuances of the product, possible short-term or continuing costs, and requested information about user retention and target audience. Finally, Senators discussed what types of tasks would be possible to incentivize and what approaches the team has seen the most success with. The Senate voted shortly after the meeting and decided to fund the product.
May 24, 2023 Senate Meeting 18: The Senate discussed the community's feedback on Ryan's Senator stipend Discord post and after a long discussion decided to table the topic for the time being. Furthermore, the Senate collectively decided to draft up new standards and internal criteria to help with increased participation, communication, and transparency towards the community.
Ghost Games is almost done with milestone 1 and are just waiting on initial peer review results--and have already started working on their frontend. The Senate also discussed a variety of tasks that may make sense for Rekt Quests and planned to meet with their team on Friday May 26th.
May 17, 2023 Senate Meeting 17: The Senate discussed KUJI DCA progress as the KUJI to USK DCA had already completely finished. They figured that as protocols usually need to cash out to pay for services or technology, it's easiest to receive axlUSDC. They then collectively decided to not resume the KUJI DCA to USK for the time being and instead DCA'ed an additional $20K of KUJI to axlUSDC at a 50 KUJI per hour rate over approximately 25 days. Furthermore, the Senate discussed lending $20K in axlUSDC and $20K in USK to GHOST to earn yield and reduce borrow interest for those stables.
Senators briefly discussed a Blend status update, but will probably resume related discussions in a few weeks. Next, a majority felt that Rektgang's funding proposal seemed reasonable but wanted to discuss some specifics on which tasks to program in for rewards as part of their initial test run and a basic milestone breakdown before proceeding. In addition, they wanted Rektgang to come in next week to present to the Senate. Senators then voted on all 3 related proposals mentioned above. Daniel updated these docs with past Senate meeting summaries.
May 10, 2023 Senate Meeting 16: The Senate discussed the status of their two DCAs from KUJI to USK and axlUSDC--the progress being solid and steady. They discussed doing another Twitter Space for community Q&A, but decided to wait until after finalizing funding Blend to hold one. They then discussed different types of revenue share possibilities like permanently staking X% of their supply etc. to accrue some sort of revenue share to KUJI stakers, but decided not to.
They then decided to start including a Senate section in the Kujira weekly roundup to update community members on our activity. Oldboy wrote the first one along with Daniel, but they're all fair game for anyone to contribute to. We briefly touched on a new grant proposal from Rektgang for a marketing platform that rewards users for performing certain on-chain tasks to help generate interest.
Xulian created a group chat with rektgang and Daniel checked in with F.N. Ghost about the grant milestone status.
May 3, 2023 Senate Meeting 15: After talking more with the Blend team, the Senate discussed what they would like to see from the protocol (in terms of some subset of exclusivity, airdrop, co-branding, revenue share, etc.) if they were to fund them. Members ended up debating over 5 different sets of options and picked one as a group with a super majority of at least 6 senators.
April 24, 2023 Senate Meeting 14: The Senate heard from the Blend team, which intends to launch on Kujira. They covered what a possible payment schedule to the team as part of a Senate grant might look like, what type of tokens would be preferred for the team to receive, and then nuances such as % of revenue share or an airdrop, etc. to Kuji Stakers.
April 19, 2023 Senate Meeting 13: F.N. Ghost presented Ghost Games, a binary options protocol, to the Senate. They discussed various aspects such as marketing (organic growth, tournaments, etc.); the percent return for single play as well as multiplayer and the nuances of win/loss probability statistics; what happens in a bank run type scenario when the protocol loses a lot of money over a short period of time from a black swan; payment milestones; and a system for paying back the Senate's loaned single player house liquidity over time. The Senate thought highly of his presentation and approved his proposal later that week after finalizing a few relevant details.
April 13, 2023 Senate Meeting 12: The free Senate Notion was near max capacity so they decided to obtain a paid subscription. They ended up deciding on migrating to a subsection of the Kujira Team's Notion to store their agenda, documentation, and other info. The Senate discussed whether it could jump in and handle validator stipend payments to make things easier for validators and for the team while smoothly ensuring payments would come at regular monthly intervals. They checked in with Eris to see their progress and check in on their plans with receiving incentives, etc. (and they had successfully deployed).
Then they discussed a variety of social engagement ideas including a weekly tweet by the Kujira Senate after the meeting, tweeting when new funding proposals are added on the Discord, sharing any upcoming Plasma OTC deals on Twitter so that everyone can participate in the process, and to facilitate posting tweets from all of our members under our main account. Next, the Senate discussed their strategy with what to do with the MNTA airdrop that the community fund received. After a lot of internal debate, they decided to sell it OTC to the community.
The Senate discussed Ghost games' funding application in depth. Their main concerns were how to ensure usage of the binary options protocol long term, how to scale the liquidity given to the platform as part of the grant funding, how to retain ownership of the given protocol liquidity, and how to have Ghost Games best pass revenue back to KUJI stakers. They briefly discussed a new protocol's intention to submit a funding proposal and separately decided not to go ahead with the $40K KUJI OTC deal as they felt it made more sense to DCA KUJI to stables at low prices and OTC sell KUJI to stables for grants at higher prices.
April 6, 2023 Senate Meeting 11: The Senate discussed an offer for a $40K OTC deal to buy KUJI directly to avoid sell pressure on FIN. Oldboy brought up the potential to leverage GHOST to borrow USK without selling KUJI depending on upcoming catalysts, momentum, and price. The Senate continued its discussion on best meeting times and dates. The Senate discussed treasury management and whether to continue DCA'ing out of KUJI or whether to pursue other strategies as well as what percent of the community pool should be in stables to ensure new solid projects can be funded in a timely manner. Finally, the Senate briefly started discussing the new Ghost Games grant application.
As a follow up, Vlad created a proposal to sell KUJI on Fuzion to USK and axlUSDC and add a proposal to DCA KUJI to USK and USDC via Calc. He then also created instructions for how to create a new Senate proposal and briefly taught Vanessa and Oldboy how to do so.
March 23, 2023 Senate Meeting 10: Two major parts. In the first hour, Peruggi came on and presented his outline for the Kujira University outreach program. He explained that it was meant to be a proof of concept program lasting through September asking for less than $12k in funding and went into detail about the particulars.
The second half of the 90 minute meeting focused on other Senate activities such as setting up Stars DCA prop 8, discussing Senate LP prop 9, thoughts on revenue fee payment in general for funded projects, as well as dates/times of meetings that Senators can attend. Finally, the Senate discussed getting back to Arbie on whether to fund them or not.
March 16, 2023 Senate Meeting 9: The KUJI hourly DCA out strategy was setup by Vladimir. Senators discussed Kuji Peruggi and Kid Kuji's funding proposal for the Kujira University Outreach Program and decided to bring them in next week for further elaboration. Senators discussed the possibility of setting up a new limit to help convert KUJI to USK with minimal price impact to raise funds to pay Eris's initial grant request.
Relevant follow up action items: Invite Kuji Peruggi and Kid Kuji to next week's senate meeting. Create internal Senate proposals for what we want to do with the Community pool "dust". Figure out what timing we'll have with votes with respect to our meeting times. Follow up on finding a good KYC platform for new projects.
March 9, 2023 Senate Meeting 8: The Senate put out Tweets mentioning its interest in performing KUJI OTC deals. Vlad analyzed our past efforts to DCA via Calc and whether to use USK or axlUSDC. PFC discussed whether we should use a KYC platform for new teams/products to be funded by the Senate. Senators discussed best times and practices for Senate votes, DCA strategy learnings, possible commissions to fund things, discussed STEAK and boneKUJI, and started a DCA out strategy to attempt to sell 100 KUJI per hour to minimize price impact.
Relevant follow up action items: setup KUJI DCA out strategy of 100 KUJI per hour without any imposed price limits. Find a KYC platform for new projects that want to get funded by the Senate so as to decrease the risk of builders rugging and/or absconding with community funds.
March 2, 2023 Senate Meeting 7: Senators discussed the Constitution ratification proposal passing, steps for properly DCA'ing funds from KUJI to USK, Eris funding, possible marketing ideas, other community feedback, the BLUE Senate Voting UI, and past action items
Relevant follow up action items: Tweet that the Senate is interested in conducting OTC deals via Fuzion's Plasma to sell KUJI to interested buyers. Look into using CALC to DCA KUJI out to fund Eris. Get more information from Eris about their situation with respect to needing short-term funding. Research a KYC platform for new projects used to reduce the chance of funded teams absconding with community funds.
February 23, 2023 Senate Meeting 6: Senators discussed community feedback from the Constitution Twitter Spaces and deliberated on possible final changes before sending the proposal in a governance vote for on-chain ratification. The Senate framework timeline was revised and discussed in more detail covering ways to communicate through the framework.
Relevant follow up action items: update the Constitution, add the Senate process to Kujira.app and include the Senate grant application form, add a link to the Senate Constitution on Kujira's main website, send the Constitution to Governance, and post a proposal to move $250K to the Senate Multisig from the Community fund.
February 20, 2023 Senate Twitter Space 1: Senators discussed the details of the preliminary Senate Constitution to gauge community feedback.
February 15, 2023 Senate Meeting 5: Senators discussed the details of the Senate Constitution publication and the on-chain ratification process, the process and details of transferring community funds to the Senate Multisig, following up on SRL Finance, reviewing the Senate Framework draft, and followed up on past action items.
Relevant follow up action items: create comms on Discord and Twitter, create a Senate Constitution Discord channel for further discussion, follow up on SRL Finance, ask the team to setup a Twitter Space to discuss the Constitution a few days after it's open to public review, and create the Senate Framework timeframe.
February 9, 2023 Senate Meeting 4: Senators reviewed Eris's grant application submission and discussed next steps to communicate the Senate scope and ratify via governance vote while finalizing the short-term treasury management approach, finalizing discussing SRL Finance, listing grant recipients, related progress, and last contact date, and past action items. We also decided to start rotating the chair for Senate meetings after Vanessa had kindly stepped up to moderate the first three.
Relevant follow up action items: discuss Senate branding, hear updates from Hans on the Constitution, add permissions for Tweetdeck to everyone, and prepare the Senate official stance on the Eris Proposal that we agree and push it to public discussion.
February 3, 2023 Senate Meeting 3: Senators discussed the details of what an initial Kujira Senate grant process might look like. There were no additional action items.
February 2, 2023 Senate Meeting 2: Reconciled and finalized internal Senate Scope and Constitution documents provided by Oldboy, Vladimir, and Ryan Lion. Finalized the grant application process, discussed the proposal process, agreed on a short term treasury management approach, and reviewed past action items.
Relevant follow up action items: follow up with Hans to ensure the contract for senate quorum matches the Constitution, setup a Google group to forward to the kujirasenate@ email, polling for max Senate funding proposal amount before going to community governance, update and share Kujira Senate Constitution with Kujira team for review, prepare document for public consumption, and add a list of potential future grant proposals including team, rough summary of product and rough amounts.
January 26, 2023 Senate Meeting 1: Members conducted self-introductions and discussed various procedural basics and next steps.
Relevant follow up action items: create an initial version of the Senate Scope, review the Senate Scope proposal, fill in our related skillsets, setup a Senate Twitter account and email, understand the proposal pipeline and timeline for DCA, and get out a draft for the grant proposal form based on KujiDAO's initial version.