Proposal: Funding for Perp User Support

Proposals
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Background

This is the relaunch of the previous proposal: https://gov.perp.fi/t/proposal-community-support-educators/967 with added clarity and insights. The heart of our proposal remains the same, but we’re providing more context and detail.

Refocus on retail users

Perpetual Protocol’s success hinges on growth and we realize that our audience extends beyond DeFi derivatives enthusiasts. As one of the oldest DeFi derivatives project, we want to welcome users from broader world (e.g centralized exchanges, staking, earn products) into the world of DeFi derivatives.

Our first initiative, Hot Tub, is a platform where we implement delta-neutral strategies into vaults so everyone can just deposit and enjoy the profit. Since Hot Tub’s launch two months ago, we’ve achieved an all-time APR of 20.62% for the ETH vault and 12.48% for USDC. We’ve also drawn in thousands of new users, who differ from our existing user base. To meet their needs, we need to revamp our community building strategy and set Perp on the path to greatness!

Perp Support Educators

Our new group of users are keen to learn about DeFi and the technologies driving it. They require responsive support and continuous learning opportunities. The Support Educators’ mission will be twofold:

  1. Provide exceptional support to Perpetual Protocol users

    • Provide timely and efficient support across all timezones through Discord and Mava (ticketing system)
    • Maintain an up-to-date knowledge base that is easily accessible and comprehensive.
    • Be ready to scale support when the bull market returns :ox:

  2. Foster a positive environment with education and engagement efforts

  • Increase the community’s overall knowledge of our product
    • (e.g. for Hot Tub we should promote our advantages compared to other passive income strategies)
  • Host educational activities & events to drive engagement and adoption
    • (e.g. workshops, 1-on-1 calls, quiz games)

Key Performance Indicators (KPIs)

  1. Median response time to user inquiries: < 2 hours
  2. Median time to resolution for support tickets: < 1 day
  3. Customer satisfaction score: > 90% positive
  4. Improve Discord weekly Message Engagement Ratio (MER)
    1. MER Definition: Total Messages / Unique Members (StatBot)
  5. Discord retention > 20%

Overtime, we will adjust the KPI to align with new community growth strategy.

The following part of proposal remains the same as last one.

Community Support Educators

  1. Hiring: Implement hiring process for each candidate, including screening, interviews, onboarding and training. The job description can be found here.
  2. Division of labor: Support educators and Foundation community team will work together to achieve 24h coverage for support, with the following division of labor:
    • Support Educator:
      1. Respond to tickets and questions from the community, identify and resolve issues
      2. Escalate complex issues to appropriate managers or specialists
      3. Drive engagement in the community
    • Foundation Community Team:
      1. Assign and distribute support tickets
      2. Monitor and track ticket resolution progress
      3. Provide guidance and training to agents
      4. Handle escalated issues and customer complaints
      5. Evaluate performance with trackable KPIs, and provide feedback to support educators.
  3. Requirements:
    1. Excellent familiarity and working knowledge of how Perpetual Protocol works
    2. Superior communication, problem-solving skills, and ability to empathize with users
    3. Ability to explain complex concepts in a clear and concise manner
    4. Passion for Perpetual Protocol and DeFi/crypto
    5. Ability to work collaboratively with other teams to achieve common goals
    6. Experience in user education and community engagement in a similar role is a plus
    7. Availability to work remotely and attend meetings during team business hours
    8. Fluency in English

Funding

$10,000 USD (paid in PERP) / month for 6 months starting June, 2023

  • Hire 2-6 support educators
    • Allocation:
      • $8,000 / mo for support educators
        • Compensation plans for each support educator will be predetermined based on the amount of hours they can commit to the project.
        • The predetermined compensation plan will provide an initial framework for compensation based on hours worked.
        • The compensation plan will be individualized to reflect the specific skills and experience of each support educator.
        • The predetermined compensation plan will be adjusted over time as the support educator’s experience and expertise grow.
      • $2,000 / mo budget for initiatives that contribute to KPIs
  • PERP amount to be determined monthly using TWAP of the 7 days prior to payday

Reporting & Management

The Foundation community team will be implementing all the action plans and will coordinate between the support educators and the Foundation development, design, and marketing teams as needed.

Execution of payments and monitoring of program and individual support educators’ performance is handled in conjunction with support educators and the Foundation community team. Together, we will track and evaluate the program’s activities and effectiveness.

Open to Feedback

We’re open to feedback from the community and any concerns will be taken into consideration in creating the final version and proceeding to a vote. Please leave your comments and suggestions below!

Proposed Voting Options

Option #1 - Yes

Option #2 - Nay

Option #3 - Abstain

2 Likes
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Temperature check is live:

https://snapshot.org/#/perp-temp-check.eth/proposal/0x44dcdad03c45c09f744c3315904e7910c0ce0638944e355dbc1d5de40f5bbfbb

1 Like
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Hey Lee, Thank you for putting together this proposal. There are some flaws in the compensation that I would like to highlight.

One, how do you know if the guy really works for you for xx hours? Two, vice versa: if the guy spends xx hours but is not able to deliver work, how do you deal with that? IMO, the program should pay some percentage (e.g., 50%) for the committed hour and another 50% subject to the quality of the work delivered.

2 Likes
4

Hi @investgineer, thanks for the great questions!

Our current plan is that support staff will be hired based on a proven track record in the community, and their performance will be monitored by the community team. We definitely consider tracking staff hours but at the same time, defi users tend to love being online all the time, so asking staff to be online at specific hours might not be the most effective use of their time. Regarding performance, we intent to manage this more like a regular job, where employees have prenegotiated compensation and responsibilities. If responsibilities aren’t met, we will work with the individual to find ways to improve, or if it’s not possible, help them move to another role.

From the proposal:

Evaluate performance with trackable KPIs, and provide feedback to support educators.

Implement hiring process for each candidate, including screening, interviews, onboarding and training.

…monitoring of program and individual support educators’ performance is handled in conjunction with support educators and the Foundation community team

The predetermined compensation plan will be adjusted over time as the support educator’s experience and expertise grow.

If you have more ideas about this please do let us know :pray: The above is our current thinking but we are open to new and better ways of doing things!

3 Likes
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thanks PERP for this great proposal i like it

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The fund will be used and send out to educators in June for May or in July for June’s contribution?

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8

The proposal is an interesting one.

Just for clarity, so two categories of people would be hired?
Support educators and foundation community team

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9

I think the proposal will go a long way to boost the community

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10

Glad to be able to partake

2 Likes
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thank you guys for this excellent proposal i love it so much

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This project is very good, I like it very much

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13

It’s a great proposal.
I hope other perpvangelist can contribute in one way or the other

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The proposal is well articulated. I think the program will be beneficial to the project and the community.

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15

Totally awesome, I’m for it.

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16

this is great proposal i like it just that was better if pay attention to local language because a lot of community maybe dont undrestand english language very well but they need to support

2 Likes
17

The temperature check passed. The official vote will start May 19 after the 7 day discussion period ends (May 12 - 19).
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Of particular note, the temp check had one strong “against” vote.
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I agree that we need to work hard to attract LPs (although I do not agree that retail is not important at this stage). It is important to note that LPs are a major user of support. In the bear market I would say close to half of major support requests come from LPs, builders and other technical, non-retail users. This proposal will benefit these users as well :muscle:

We have to finalize the support educator positions and duties before we will know the timing.

Foundation team will remain as it is - we don’t plan any hiring. So it’s just one category at this point.

Thanks Rane, we will work on finding new ways for Perpvangelists to contribute, since they are still a key part of our community.

We’ll do our best to support more languages but so far it’s hard to manage because there are a lot :sweat_smile: However, non-English users are welcome to open a ticket and use their preferred language – we’ll use translation and ChatGPT to help them in their language. I think this might be the future :thinking: Everyone uses the language they prefer.

3 Likes
18

The official vote is live:
https://snapshot.org/#/vote-perp.eth/proposal/0x553c5f19d4c20b0ad33a7a0c45b3f5748df6dd7aeabef08b557705a3571419ca

Quorum notes

  1. We are updating our method for calculating voting power to verify it is accurate
  2. Quorum will remain 10% of circulating voting power
  3. Snapshot no longer supports updating quorum amount after the vote is launched (and the snapshot block has been fixed)
  4. We will post confirm the circulating voting power in this forum on Monday (5/22)
2 Likes
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Updated quorum data
(Quorum will not display on Snapshot because the ability to set quorum after a vote is launched was removed by Snapshot)

Query timestamp:
- Fri, 19 May 2023 13:39:35 GMT
- UTC timestamp: 1684503575000
- Mainnet block number: 17293885
- Mainnet timestamp: 1684503575
- Mainnet UTC: Fri, 19 May 2023 13:39:35 GMT
- Optimism block number: 99757040
- Optimism timestamp: 1684503581
- Optimism UTC: Fri, 19 May 2023 13:39:41 GMT
- Circulating Voting Power: 146,395,383.662
1 Like