Hey guys. My day job working in trad-fi has kept me busy with markets melting down over the last few weeks, but I’ve been able to come up for some air and start to dig back into the projects I like a lot. In looking at some of the developments in Universe over the last few weeks, both within the project and also within the broader crypto market, I have got quite a few questions. Hopefully you’re able to provide some color (and ideally some specificity as opposed to more vague or open-ended answers), either here or on the AMA.
Is there any clarity on what the major priorities are right now in terms of upgrading the platform, and what is the timeline for rolling out new and updated features?
How is the team thinking about dividing their time between Polymorphs, Universe, and any other projects? The scope of what you’re trying to build is large and impressive, but I’ve wondered if it makes it hard to focus. Has there been any thought as to whether it makes sense to put 100% of the team’s focus into one project at a time in order to push it to completion and then move on?
It had been mentioned a couple times previously that one of the largest impediments was the need to add more dev talent. That is to say NOTHING about the talent you have—we know it is top notch. Rather, it sounded like you were looking to add more. Is this still the case? If so, do you guys think it may be easier to find people if we enter into a prolonged downturn and other projects disappear?
What is the monthly run rate for operations and development of the group as a whole? With conditions turning decidedly against risk, it’s obviously a much tougher environment and we likely won’t be able to bank on capital appreciation of treasury assets for a while. I’m wondering how long the group can operate without having to raise cash and still push forward.
Piggybacking off of that last question, has there been any thought given to diversifying the treasury out of ETH and XYZ and into more USDC? Nothing is certain, but it feels like the highest probability outcome is for markets to continue to move lower. If that’s the case, the USD value of the treasury could fall fairly quickly and the team’s runway could shrink.
Marketing has come up recently and for a while we heard that we didn’t want to market the product because it wasn’t quite ready. More recently, it seems all but certain that we are going to spend 4-5% of the treasury on sponsoring a party for ~1,500 people. I’m wondering what the general state of marketing is, and how you think about what is worth doing now and what isn’t. Moreover, how do you guys think about or plan to think about actually measuring the ROI of marketing dollars. The idea that we can’t measure the ROI on marketing because it is impossible to know the opportunity cost of not doing something (which is what was stated in reference to the party) simply doesn’t make any sense at all. An ROI has nothing to do with opportunity cost and I’d have to think you could look at metrics like dollars spent versus things like site traffic, transactions, twitter mentions, etc.
More broadly, I’m wondering how the core team thinks about the community and its involvement in the project. The project is touted as being DAO-first, but it seems like the tokens are distributed in such a way that whatever the core team wants, the core team gets. I may be in the minority, but I actually think that’s necessary when building. You have to make choices and act quickly to get things done—a DAO is not conducive to that when you’re trying to build. With that said, it also seems like there is more interest in vibing in the discord with the community than actually listening to feedback. A lot of the same issues—particularly around communication and priorities—keep cropping up and it certainly seems like little attention is given to actually changing things. The weekly updates are a great example. They were born out of a community push for more communication and transparency, lasted exactly three weeks, and then stopped. As a community member, it feels a bit like the core team members simply don’t care too much about what I actually think unless it’s positive and in support of what the core team wants.
I appreciate anyone taking the time to read and respond to this. Please believe that it is all coming from a good place. I just think that these are some really important issues that we could all use some clarity on.