🤲Contribution outcomes
Listing the different outcomes that will be created from contribution efforts along with their advantages to supporting existing treasury system efforts
The following contribution outcomes are how the Web3 Association aim to support and improve treasury systems across the industry. Educational resources and experiments will be some of the main contribution outcome over the short and long term. The other potential areas of contribution we could help with in the future include helping with the development of open source software and the any standardisation efforts.
Educational resources
The creation and improvement of educational resources is one of the main outcomes to expect from our contribution efforts. Resources will reviewed, iterated and improved on an ongoing basis as new information and insights become available.
Contribution outcomes
Research
Data, facts & statistics - Aggregating the data, facts and statistics that exist about treasury systems and breaking them down into the relevant focus areas of concern.
Solution research - Identifying the different treasury system solutions that exist and how those solutions approach solving each problem for the different topic areas.
Aggregated resources - Bringing together the relevant existing information about different focus areas which will include any relevant research literature and reports, articles, blogs and any other insightful informational resource.
Analysis
Insights & trends - Analysing all of the data, facts and statistics that exists to identify trends and insights which could provide useful learnings on the current state of different solutions and how they have been changing over time for different metrics.
Case studies - Conducting studies to look into treasury systems either at a high level to do overview comparisons or more deep dives that look in detail at certain focus areas and what is happening across the industry.
Product analysis - Exploring how different problems could be solved with different technical, product or design choices and what ramifications those approaches may have on improving treasury systems. Analysis can help with identifying what existing approaches are effective and easy to use and where further experimentation could be made.
Literature review - Reviewing the existing literature available against the up to date insights and trends to evaluate how current research could be better applied to existing treasury systems. Alternatively this could also result in identifying when more research could be conducted that could be beneficial to treasury systems due to new learnings from recent insights or real world usage.
Suggestions
Experimentation suggestions - Applying the results of any previous analysis can help with identifying what new approaches could be explored and trialled in treasury systems. Any results from these experiments can be fed back into the iterative loop of conducting further research and analysis to better understand what the most effective solutions were for different treasury related problems.
Implementation suggestions - As certain solutions have a growing amount of evidence of their effectiveness suggestions can be made towards how other existing teams could implement those solutions. These suggestions could be data structures, processes, algorithms, open source software or any other technical factor or product consideration.
Key benefits of these outcomes
Aggregated source of knowledge - Bringing this research and analysis together will create an easy to access source of information and knowledge for existing project teams to use and benefit from.
Shared learnings - Looking at each existing solution and bringing together the insights, data and adoption information will help with identifying key learnings in each of the ecosystems. These learnings can then be shared with other teams building treasury solutions.
Identify areas of alignment - Comparing how each team is approaching their treasury system will help identify when problems are being solved in similar ways across ecosystems. Spotting areas that are converging over time to a more standardised way of solving a certain problem provides an opportunity to widely share this solution approach, help with any open source software that further supports more adoption and also to support any efforts to standardise these effective solutions.
Identify main problem areas - Bringing together and analysing the performance of different solutions in different ecosystems will help make it clearer where the main problems are with each system and which problems are having the largest detrimental impact for each community. This understanding will help guide future efforts on how we and other ecosystems can spend more time to better support and improve these treasury system areas.
Save existing projects time - Providing an open and easily available collection of resources and knowledge to existing teams creates more opportunity for them to save time in identifying and adopting effective solutions for different parts of their own system. Any time saved can then be spent solving different or more important problems.
Experiments
Increasing the number of experiments happening across the industry can help with speeding up the rate that ecosystems learn about what systems and processes are most effective for their treasury.
Contribution outcomes
Experiment facilitation - Running experiments can be expensive and take a lot of effort to coordinate. One way that the Web3 Association can help many ecosystems is by helping to facilitate some of these experiments so that they are easier and cheaper to operate and learn from.
Experiment outcome analysis - Any experimentation outcomes can be documented and analysed to determine whether a given experiment was successful or not and where further improvements or suggested changes could be made.
Key benefits of these outcomes
Shared learnings - Learnings generated from any of the experiments can be documented to help with sharing that information more widely with the industry.
Exploring promising ideas & approaches - Research and analysis about treasury systems can help with identifying the most promising approaches for different ecosystems to experiment with.
Speed up treasury development - More experiments and shared learnings about the outcomes of those experiments can help with speeding up the rate in which ecosystems are able to identify the more effective approaches that they can adopt for their own treasury.
Reduce cost of experimentation - Many ecosystems could experiment with promising approaches to improve their treasury systems. In these scenarios the efforts from the Web3 Association can help to increase the amount of collaboration and reduce the amount of duplicated effort across the industry.
Open source software
The benefits of open source software becomes more clear and obvious when reflecting on some of the most popular services and solutions being used today.
Contribution outcomes
Technical specifications - Technical specifications are worth consideration when solutions emerge that effectively solve certain problems. Drafting a technical specification will revolve around defining each part of the system or process and its purpose. These specifications could be used by teams building similar solutions who could then implement any available technical specifications that match what the type of solution they are looking to build.
Tools & libraries - Open source tools or libraries can be created to help address common problems and can simplify the development process for teams that build their solutions with them. An example Web3 related software tool could be one that helps to create or read transactions from the blockchain. Common problem patterns that exist across different treasury systems could also benefit from open source tooling that addresses these problems and then can be integrated into different treasury solutions.
Reference implementations - As effective solutions emerge for solving different problem areas an open source reference implementation can be made to help new and existing teams in building their own solution by being able to adopt and integrate an open source example. Making reference implementations will be more effective when there is already an increasing alignment around what solutions are truly at solving different problems. The more popular a solution approach is, the larger the opportunity is that a wide range of teams would be interested in adopting an open source project into their own solution.
Key benefits of these outcomes
The benefits of adopting open source software are numerous and include factors such as helping increase the development speed of teams, flexibility in how they integrate solutions, removing vendor lock ins and increasing the rate of innovation amongst many other benefits.
Standards
Standards are an important north star goal to help with development and adoption of important areas in Web3 ecosystems. Although this may be an important goal, establishing new standards could be very challenging. Standards require a thorough understanding of a problem area, the identification and development of an effective solution to solve those problems and then sufficient evidence, usually through real world usage and adoption, to demonstrate that a given solution is both suitable and actually becoming a standardised way of solving those problems.
Contribution outcomes
Identify suitable areas for standardisation - Standardising parts of a treasury system will be more achievable when there is either a high effective solution being widely adopted or when existing solutions are converging around a similar approach to solve the same problems. When these scenarios are identified more effort can be directed towards inviting collaborators to consider how a given solution approach could be potentially standardised.
Support standardisation - If there is emerging agreement on a way to standardise a solution to a given problem area then one useful area of contribution will be to support that process of bringing together collaborators, research and information to support that standardisation process. Supporting standardisation could mean helping with documentation, technical specifications, defining terminology or bringing together insights and expertise from the different participants in each community.
Key benefits of these outcomes
The benefits of adopting standards are numerous such as how they can help increase efficiency, robustness and interoperability of solutions which adopt them. Any of the contribution outcomes that help support the improvement or adoption of any emerging standards can help with achieving these benefits.
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