- Captains
Decentralized Autonomous Work System

Overview

The Ricochet Captains System is a organizational model where five people are selected to manage the protocol development and earn the protocol fees generated. Each of the five Ricochet Captains work on a single functional unit for the protocol. They draw a base reward and earn a bonus reward that varies based on protocol fees.

Captains

This section contains the initial job descriptions for each of the five Captains positions in the system. Captains are required to stake 100K RIC in a contract in order to receive their rewards.

Executive

In this role you will ...
  • Manage a open source community to work together to make value adding real-time finance applications
  • Deliver a weekly situation report with respect to Executive actions taken by Ricochet DAO
  • Produce a monthly progress report about progress towards Executive objectives
  • Work closely with the other Captains to make sure Ricochet protocol is sustainably growing its own adoption
On day one we'll expect you to...
  • Recruit for 4 other Captains to fill the open jobs
  • Create and track metrics and report on progress towards the Captains objectives
  • Oversee execution of the highest priority grant proposals
  • Be a net promoter of Ricochet protocol
Added bonuses you have...
  • a deep understanding of the Ricochet protocol
  • the ability to contribute across all levels of the organization
  • relationships with partners interested in Ricochet DAO

Engineering

In this role you will ...
  • Manage protocol and app engineering, network operations to run Ricochet
  • Deliver a weekly situation report with respect to Engineering at Ricochet DAO
  • Produce a monthly progress report about Engineerings progress towards it’s objectives
  • Maintain the community of open source software engineers that are interested in contributing to Ricochet
On day one we'll expect you to...
  • have deployed smart contracts that have real value locked on a mainnet
  • be an expert with Solidity and Javascript/Typescript
  • be able to oversee DNS record management and hosting React applications
  • be able to manage Github issues, pull requests and projects
Added bonuses you have...
  • Written and deployed contracts that have > $100K TVL on a mainnet
  • Contributed to open source React applications, or other OS software project
  • Experience managing small teams of active, engaged, and experienced engineers

Product

In this role you will ...
  • Clearly define the problem Ricochet solves for protocol customers
  • Perform research and development for new features
  • Improve the user experience so Ricochet can onboard more customers
  • Deliver a weekly situation report with respect to Product at Ricochet DAO
  • Produce a monthly progress report about your progress towards your objectives
  • Maintain the community of UI/UX designers and builders that are interested in contributing to Ricochet
On day one we'll expect you to...
  • have a deep understanding for how to use app.ricochet.exchange
  • be ready to interview existing and prospective customers
  • clean out the backlog of product development work
Added bonuses you have...
  • Worked as a product manager on another DeFi project with TVL > $100K

Communications

In this role you will ...
  • Manage communications with all protocol stakeholders
  • Deliver a weekly situation report with respect to Communications at Ricochet DAO
  • Produce a monthly progress report about Communications progress towards it’s objectives
  • Maintain the community of people and organizations interested in Ricochet DAO
On day one we'll expect you to...
  • have previously managed the discord community for a defi protocol/project
  • commit to periodic Twitter and Medium articles
  • schedule and host organizational events: core team meeting & community call
  • be able to manage Github issues, pull requests and projects
Added bonuses you have...
  • have been a commnuity manager for contracts that have > $100K TVL on a mainnet
  • be able to manage Github issues, pull requests and projects
  • Experience managing small teams of active, engaged, and experienced open source contributors

Treasury

In this role you will ...
  • Be the 3rd signer on transactions that release funds for 3 of 5 transactions
  • Pay attention to funds and propose reforms for managing treasury funds to sustain and grow the protocol
  • Deliver a weekly situation report with respect to Treasury at Ricochet DAO
  • Produce a monthly progress report about Treasury progress towards it’s objectives
  • Work closely with the other Captains to make sure funding from treasury is properly allocated
On day one we'll expect you to...
  • review pending transactions, open bounties to make sure funds are being allocated correctly
  • manage the flow of RIC rewards for the protocol and the Captains
  • diversify the treasury, develop a policy
  • Make a dashboard for the Ricochet Treasury
Added bonuses you have...
  • previously served as a signer on a Gnosis safe
  • understands Github issues and pull requests well enough to manage them
  • experience with Dune Analytics

Captains Agreement

This section describes what Captains agree to when taking on one of the five Captains positions.

Responsibilities

Captains at a minimum must:
  1. 1.
    Weekly report - publish to discord channel
  2. 2.
    Monthly report - publish a written report on discord
  3. 3.
    Host a monthly meeting - host an event in discord

Compensation Model

Ricochet DAO runs a custom compensation model which requires anyone interest in this role will need to use, details of the Captains System are below:
  • You must stake 100K RIC tokens (1% of the supply) as a deposit to become a Captain
  • A vote is required to unstake your RIC
    • Bad Captains will not receive their deposit back
  • Base Rewards:
    • 100K RIC/year base salary
  • Bonus Rewards:
    • Based on protocol fee RIC buy backs
  • Grant Rewards:
    • You’ll be responsible for requesting additional RIC by submitting grant proposals
    • Each of the 5 Captains can approve funding your grant proposal
    • Grant funds can go to you or your team members on grant proposal delivery
    • Grant funds are escrowed until work is completed

Metrics

  1. 1.
    Total Value Streaming (TVS) - easiest metric to see the health or the protocol
  2. 2.
    Active streamers - the number of unique wallets streaming
  3. 3.
    Active affiliates - the number of unique affiliate wallets that are allocated IDA shares in a market and are receiving fees
  4. 4.
    Protocol fees - the amount of fees the protocol earns per month
  5. 5.
    Affiliate Fee Revenue - the amount of fees the affiliates earn
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On this page
Overview
Captains
Executive
Engineering
Product
Communications
Treasury
Captains Agreement
Responsibilities
Compensation Model
Metrics