Past Senate Meetings
This page is a detailed repository containing dates and agendas of past Kujira Senate meetings to maintain full transparency and accountability to the Kujira community.
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.
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 [email protected] 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.
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 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 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 20, 2023 Senate Twitter Space 1: Senators discussed the details of the preliminary Senate Constitution to gauge community feedback.
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.
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.
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 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 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.
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.
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 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 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.
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.
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 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 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 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 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.