I would like to start this thread to show the community what the proposals for the Council of Elders will be. So that people start to formalize the roles of the Council of Elders and to discuss these proposals.
Given the open nature of the Council of Elders at this point in time, my proposals for it can be reduced to these foundational objectives:
To define the length of terms of the Council of Elders. My proposal is to have a 1 year term with elections starting at the start of the year with indefinite possible re-elections.
To define the role of the Council of Elders. My proposal focuses on 3 main points: a) Increase the awareness of the Numeraire token. An example could be The Council of Elders engaging directly with the wild west that is exchange listing or providing NMR liquidity to decentralized exchanges and its L2 variations (which now have low liquidity). Also, to increase NMR pairs on DeFi like Aventurine has already mentioned Numerai Community b) Try to increase the treasury assigned to it, possibly by the use of liquidity provision of NMR on DEXs or on any other DeFi platform as previously mentioned. c) Increase the number of newer members to the Numerai tournaments via different avenues. There are still ways that have not being explored that the Council of Elders could work with. My concrete proposal is the start of the Numerai Ambassador’s program that will be funded directly by the Council of Elders’ treasury that will be in charge of the organization of local chapters of Numerai groups via meetups or hackatons, online groups or online hackatons or with direct contact with universities around the world. These ambassadors will be responsible for the organization of events in different geographical locations to present Numerai to the public so that it truly becomes an Erasure.world. In fact, the NMR airdrop idea proposed by Objectscience on the council-of-elders channel could become a reality on meatspace Numerai hackatons.
To define clear rewards mechanisms for the Council of Elders members. Unlike regular bureaucracy where fixed payment doesn’t guarantee actions. My proposal is to encourage work by rewarding the work of the Council of Elders accordingly to the work done either at the end of their terms of after successful delivery of every proposed milestone. Moreover, it could be taken another step forward. The community after a successful term, could decide via on-chain voting, what rewards the members of the Council of Elders should receive for their work if any at all.
To incentive the engagement of the broad community for important matters and decisions done by the Council of Elders. In case a community vote is required by the Council of Elders, a small lottery airdrop price to a lucky voter could incentive community engagement. There is a precedent of this with the MoonCatRescue community MoonCatRescue - Airdrop. It needs to be noted here that this could only be implemented only if full on-chain voting by NMR token holders is already enacted in order to avoid botting.
I look forward to hearing the community’s feedback on these proposals.