The potential for a Lion Foundation

in #hive-1679222 years ago

Leo Finance as an ecosystem (LFE for future mentions) has been around for 3 years now. In my rookie opinion the LFE is doing great so far - after all, I've only been active on Leo for less than a year so I'm not familiar with the past, neither the good or the bad stuff.

The amount of monthly active users is growing, the percentage of locked native tokens is healthy, community driven initiatives in the social side of the ecosystem are thriving, the minnows and whales are working together showing what community synergy can achieve, and there are even some individual initiatives or accounts working towards the betterment and the healthy organic growth of the platform. In general, the Leo Finance Team (LFT for future mentions) is delivering on everything they've promised, slowly but surely, fixing mistakes and improving everything they can as fast as they can.

By the way, in case you're not aware, I run the @leogrowth account, which is used to push LFT initiatives. I'm writing this post from my personal account because this is an idea coming from a community member (me) and not an official initiative. This fact is important because of the topics I want to approach below.

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The way I've seen how things unfold in the LFE is as follows:

1 - LFT steers the ship. The development of the ecosystem falls on their shoulders and it is their responsibility and burden to develop the tools and pieces of the whole ecosystem. As someone in the discord general channel mentioned, the ecosystem depends solely on the team's development, commitment and deliverance.
2 - Once an update, launch, or even an idea is created, the community responds to it and if it's well received, the LFT develops it and is in charge of spreading it within and outside of the LFE. The community depends on a correct approach on the marketing, promotion and adoption plan from LFT for it to thrive and thus, for the community to thrive.
3 - Either the project, launch, or idea works or not, the community is lightly involved with the development, the investors are in the sidelines watching the team play. If the team wins the game, everyone is happy, if the team is struggling at half time, everyone is mad - this understandable by the way, I'm not judging.

I get it, the LFE is steered and empowered by a centralized LFT, which allows development on the ecosystem to roll faster and deliver on things in a bigger and better way than it would when you compare how development works in a decentralized environment. We all know the pros and cons of decentralization, and we all understand the benefits and disadvantages of a centralized steering wheel.

But here's a take that might be controversial or stir the pot:

The situation stated above enables apathy from the community because there is no way for us to get involved in any part of the development, and there is no form for us to influence how a launch or project on the LFE performs, except by taking part, investing, participating and pushing it from an individual standpoint. The above scenario also sets the ground for sentiments of entitlement from its investors without any accountability or responsibility - we are just investors without any say in what gets done, and it is our right to expect deliverance. Now don't get your pot stirred please, I am not attacking anyone specific and this is not a bad thing, I'm just stating how things are and what can be done to fix this.

All of the development in the LFE, whether it is in the social side of things as well as tech side, falls on the LFT and is privately funded by your the LFT.

It is what it is.

But does it really have to be like that?

The Potential for a Lion Foundation

Or a Lion's Den, or a Leo Labs, or a Pride Foundation, actually scratch that name because it could be taken as if we are made of rainbows... you get the point, the name is not important.

For those who don't get the idea, a foundation is a non-profit organization dedicated to supporting the decentralization, growth and development of a crypto ecosystem with values of transparency, openness and fairness.

Basically and put into LFE terms, a Lion Foundation would work in theory towards the betterment of the ecosystem by getting involved and active in the growth efforts they consider vital. It would be decentralized, made of community members, driving community initiatives and empowering the same community to achieve the goals the foundation sets.

The way I see it, a foundation would be a huge chance for those who want to do more, make things happen, and overall get more involved with the ecosystem, to participate and do their part towards the ecosystem's growth.

This Foundation would have several advantages against other ecosystems:

  • It would be part of an ecosystem with a centralized team handling the development, so it can piggyback ride that development to achieve its goals.
  • The community is small but its members are solid and committed, they believe in the project and are vested in it. Many Lions have a huge sense of belonging and part ownership. They understand that if Leo thrives, they thrive, we all thrive.
  • The mindset of most members is long term, they don't consider Leo tokens as short term gains but as a long term investment.
  • Our whales are not individualistic nor selfish, LPUD has proven that the ecosystem whales actually care about the little guy and understand that there's no point in stacking their bags in a dead ecosystem.
  • The LFE is inflationary, so we actually have funds that we can allocate for the long-term betterment of the ecosystem towards long-term projects and thinkers. And the whales have proven they care more about this than their own interests (this one is huge if you are familiar with other projects).
  • We have minnows who are incredibly committed and are more than willing to grow their long-term stack (not a salary that will add sell pressure) in exchange of doing tasks and gigs.
  • Users do not need to put their own money into the development of the foundation, that's why we have a reward allocation and inflation for.
  • The Foundation would have the full support from the LFT and all the oracle accounts. In other words, Khal is fully on board with this idea (I checked). This bullet point is huge in my opinion, because the foundation can allocate the votes and voting vests (for things like governance votes) of these accounts as the foundation deems necessary.

Note: I understand that the current $LEO price makes it hard to allocate resources into efforts or initiatives, but one idea could be to allocate those resources into long-term thinking ideas driven by long-term thinkers, who wouldn't sell Leo today aiming for the development and price growth while stacking Leo. Just a counter argument to what could possibly be "Allocating 1k dollars to a marketing campaign wouldn't work because we'd need to sell 20k Leo to achieve that, and there's no volume etc". Just an idea.

A Lion Foundation would kickstart a snowball effect of efforts and campaigns that are community driven, community organized, community funded, and for the betterment of the community. A foundation would also give the community more influence in what happens in the ecosystem, giving us (I'm a community member, remember?) a sense of responsibility, involvement, belonging and ultimately, accountability for what happens and what doesn't in the ecosystem.

It would no longer be a well Khal didn't promote on Twitter this idea, that's why it failed. It's a two way street, having a Foundation apart from giving power to the community, also gives responsibilities and makes the foundation accountable. This idea comes from the basis of working together with the LFT to make their development a bigger success, to empower each other while focusing in different aspects of the ecosystem - one side handles development, the other brings eyes and users to the projects and ideas developed.

How can it work in practice?

I have no idea, I am just putting the idea out there for the community to give their own ideas, approach, and give as much feedback as possible.

All I know is that we'd need to organize, coordinate, and make conjoint efforts to make this happen.

Who knows, perhaps this is the first step towards shifting from an already heavily vested community into a heavily invested community.

Any Thoughts?

Disclaimer: This idea came to me from reading several posts of how Leo Finance is unfolding and from speaking one on one with several community members, both whales and minnows. I am putting this idea out as a community member and how it develops depends on the community, so give some feedback, share your ideas, counter other people (or mine) arguments, let's shape this Lion Foundation idea.

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Who knows, at first I would guess within LeoFinance and depending on how things unfold and how the market cap, the volume and the amount of users grow, the foundation could think of things outside the bubble.

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let's shape this Lion Foundation

Why not Leo Foundation? Either way, I think that this is a very good idea. This may change lives in the future. Similarly to Hive with the boreholes in Ghana. So I support this idea. I wish good luck and all the best with it.

It was just the name I thought of, it could have any name! And definitely, it could be first step towards something bigger.

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Well, certainly not LFG, too much bad vibes with that one. Lol. Looking forward to where this is going.

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I'd fully support this, it's a brilliant idea. Perhaps it will encourage even more commitment from "everyone" in the ecosystem. It will be interesting to see how this Foundation idea unfold :)

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Great stuff here. I had shared some thoughts on a related thing (a Foundation) some one to two years ago. I need to dig up that post.This is just a step in the right direction. This could incubate some great projects that would leverage the LFE resources and would add to it's active userbase.

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Personally I don't like "funds" "DOAs" etc. I feel they are like mini governments where money just gets throw around in and wasted.

What I would be in favor of is for a core set of people to communicate to the general LEO "public" about initiatives they can help on. Such as going to like and retweet a post, writing about a specific topic or just supporting those that do the mini projects themselves through votes.

We already have seen a drastic increase in people writing quality content and driving SEO traffic when we got word of ad rev split (Still waiting on btw)

All of that new traffic should be converting into new members to LEO. If it's not the some work on conversions needs to be taking place on page.

By owning the token yourself, earning it and being active in the community should be plenty and sell itself. We also want to focus on things where people invest into LEO and not look at it as a ATM machine to keep selling the token and cashing out. This is what most people are use to because of popular platforms such as medium.

Honestly centralization is good when it comes to business. It has direction and things get done. A decentralized platform turns into a mess of people fighting etc because apparently everyone has the best idea lol. I don't think a truly decentralized anything would really work in terms of growing and building a platform.

The focus has to be money/crypto coming into LEO and increasing the tokens value and why you would want to keep the token itself. That's done through fees, more people active and staking , defi fees etc.

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This is the comment that most resembles my initial idea man, I actually had a thorough conversation today about this idea and after reading the feedback I am making a second post about this, but yeah I think you’ll like it, the actual practice and not just the theory resembles what you said. Thanks for the feedback!

I look forward to it! Keep up the good work

Great idea! I had a feeling that things were sort of moving that way already but I think it would be great to take a structured approach to this!

!hivebits

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A little retrospection and consolidation.

I like team to put some objectives for the platform like revenue target , user targets and liquidity targets and accomplish then before undertaking new one.

Polycub will be in phase 2 in next couple of month it require both attention and user education.

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Honestly, I feel like most of the "pros" from such foundation are already baked in through the leogrowth account and the fact that we are on a decentralized platform to begin with.

The loyalist and whale holders that are already taking initiative will be the ones that likely would engage in this, it sort of just seems like it would be making what is already going on more "organized" in many ways. Not sure if that is a substantial value add.

Also, governance voting on LEO (if that is even possible) I think would really cover the gaps that maybe a foundation would help fill.

I like the spirit of the idea though.

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LeoFinance is a Hive success story and proof of what can be done on Hive. In fact, Hive's core purpose is to power layer 2 community, app, ecosystem building efforts.

Hive takes care of the decentralization part, for this reason I don't think there is any need to push Leo to decentralized system. It already is on a decentralized platform. Its goals can be achieved in a more efficient and effective manner as a centralized entity that is driven by decentralized community.

The relationship between LFT and LFE is actually amazing, and both are responsible for the success of Leo. What has been achieved so far wouldn't be possible if either LFT or LFE didn't exist.

Leo community is the most active one on Hive. You can clearly see this in my Hive rewards distribution report from few days ago. This has been consistent for a while now based on similar reports from six months ago and laster year.

The Foundation is a good idea. But I doubt decentralization should be focus, just because there is no need for it. Foundation itself will probably be a centralized entity, and perhaps even better that way. Such efforts will require a lot of work. I can see benefits of a Foundation. While LFT focus on innovating and building the tech, Foundation can focus on community relations, investor relations, user onboarding, etc. It will require some dedicated community members to volunteer.

One of the things I would suggest Foundation to work on is creating a corner on LeoFinance for high quality investigative journalism in crypto and finance world. Maybe even hiring journalists who would create daily news or investigations content. This combined with community content in decentralized fashion can be powerful. I can see LeoFinance becoming a The Wall Street Journal of crypto world.

I think LFT growing as a private/centralized company and building a successful and profitable brand is the right path, all while doing so in a synergy with a decentralized LFE community. This is a great model for future of the web.

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One of the things I would suggest Foundation to work on is creating a corner on LeoFinance for high quality investigative journalism in crypto and finance world. Maybe even hiring journalists who would create daily news or investigations content.

This is one of the best ideas I have heard. If we could hire some writers with a good Twitter following and then have them share their articles on Twitter exposing LeoFinance to their audience, we could have a great deal of extra attention and credibility for the platform.
!PIZZA

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having a Foundation apart from giving power to the community, also gives responsibilities and makes the foundation accountable. This idea comes from the basis of working together with the LFT to make their development a bigger success

I believe one of the strongest sides of LeoFinance is the community members that really has the "sense" of community. It has been a long journey for LeoFinance and we have achieved countless things altogether. With our collective efforts, we are reaching out many people and inviting them to Hive ecosystem. The idea of a foundation is brilliant! It can be quite beneficial for growing LeoFinance ecosystem 🦁

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A for effort, but in general committees don't accomplish anything.

One of the reasons leo has been able to build so many things is that khal is dictating what happens and paying for it with his own money. That has its pros and cons, like you've outlined, but overall the pros have vastly outweighed the cons.

I don't think LFE is anywhere near large enough to support this kind of top-heavy structure.

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I love the idea of a Leo Foundation (or whatever name) that operates as a DAO. Maybe LEO Power could be used to vote on proposals for funding projects, etc... Or that could be something totally separate. Or not a part of it at all.

This thing could really take a lot of different forms, but I think there has to be a clear goal. The foundation members need to be trusted stakeholders. The goal needs to be focused on growth outside of the current ecosystem, not necessarily internal because the LFT is already doing that.

Ambassadors could also play a role here. Just spit balling some ideas that come to mind. Definitely a good concept though!

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In a past life in a large corporation, I was part of what we badly named.. The Project Steering Committee. (forget the name it was an internal project)

What we did was talk to clients and users of our Internet Based Medical Billing Application, and prioritize various upgrades, new features and even entire modules weighing the number of times/people who had requested it, gathered quick estimates from developers for man hours and came up with real data for the development team to use in selecting which upgrades would be the biggest bang for the buck, so to speak.

So that is one way a foundation could operate, especially if funding and development resources were available.

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First of all. It has to be called, "The lions Den." That's not even negotiable.

Now, down to the less important parts of the post from top to bottom. As somebody here for the past 5 years i fell that we are finally moving in a good direction. Bringing in developments for the end user.

The reason this is happening is because of the centralized team driving all o this development. I've seen the struggles of Hive development to date and how hard it is to progress in a decentralized manner. Luckily we have enough committed members building out layer one for layer two products to build and flourish.

I think that the leo eco-system is growing well as it is right now but as stakeholders there is always room to do more and grow our own investment. I think that there would be an appetite from the community to get involved as it is all of our investments that we would be helping.

The way I see it, a foundation would be a huge chance for those who want to do more, make things happen, and overall get more involved with the ecosystem, to participate and do their part towards the ecosystem's growth.

We have already seen the appetite for work when the leoads announcement was released as the community saw how their direct involvement would lead to more profit for all of us.

I think that for any foundation of this sort to work it would need to be structured in this model of effort and reward. Anything that is handled be the foundation would need to have a real sense of growing leo or the larger ecosystem.

Tangible and measurable results.

I think that the general idea itself is very good as long as it has the right vision and structure. I'm certain that we would get the support of the community in any project that the den proposed.

There would be a lot to be discussed to start with but there is definitely something here.

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The Lion's Den is a kickass name can't argue with that, there's a second post I published a few hours ago, maybe that will give you a more detailed vision of how it could work when we are in the baby (cub?) steps :D