PoolTogether was one of the first series of Quests available on RabbitHole, providing an incentive for new users to explore PoolTogether, deposit funds, and experience their first no-loss prize draws on the platform. Quests and other initiatives on RabbitHole have driven over 5,000 users to deposit on PoolTogether Celo and over 6,000 to deposit on PoolTogether Polygon.
RabbitHole’s partnerships typically involve receiving tokens in exchange for facilitating quests to drive new engagement. Many of these tokens, like POOL, convey governance rights. This year a new working group has formed to take responsibility for exercising RabbitHole’s voting power. We call this metagovernance — the process of a decision-making group in one DAO forming a conclusion and executing a vote in the governance of another.
Our governance participation is led by an elected contributor known as a Protocol Specialist, and happily I was selected for the role with PoolTogether. I was drawn to this project for its alignment with my other web3 interests, all of which revolve around bringing in new users and helping them discover the vast new array of opportunities made possible by blockchain technology and cryptocurrencies.
You might have seen my name popping up in governance forum discussions and in the #governance channel on Discord. Behind the scenes of these comments is a comprehensive process to consult the RabbitHole community, present a summary of the decision, costs, benefits and risks, and ultimately make a recommendation. Votes are executed based on the result of a two-stage poll - one for the general community and one for the metagovernance pod.
Being a good Protocol Specialist requires building up a strong understanding of the project - I’m catching up on PoolTogether Discord conversations and forum discussions most days - then balancing the merits of each proposal and its alignment with our RabbitHole values. PoolTogether’s focus on smaller users and steady financial growth generally make this last part easy.
We are still early in our metagovernance journey, learning quickly as we go, and refining our processes so that we can maximize our effectiveness and influence. As ‘v0’ of the pod comes to a close and we transition into ‘v1’, our hope is to shine a spotlight on the merits of this process and attract vote delegation. In doing so, we can help our partners grow governance participation, reach quorum more readily, and be more agile in their decision making.
If you would like to know more about our role in the governance of PoolTogether you can find me on Discord (@adamdawson.eth), and if the idea of metagovernance has piqued your interest be sure to join the RabbitHole Discord and follow the #rh-metagovernance channel for announcements about applications to join the pod for v1.