Full control over your digital assets

**CONTEXT** The next 3 to 6 months will be critical for Threshold and the DAO. We have the ongoing launches of not only our flagship product, tBTC v2 and the accompanying thUSD, but also communicating the benefits of threshold cryptography generally and the merits of proxy re-encryption (PRE) and newer solutions like “tdec”. Threshold both needs and deserves a lot more visibility in the industry. We need to be involved in relevant discussions on Crypto Twitter and we should get a lot more earned media coverage, particularly with the upcoming anniversary of our historic protocol merger. We also have unique challenges in coordinating efforts of the Marketing Guild, Keep’s & NuCypher’s marketing resources, as well as outside support (Angle42 agency). In the detailed Marketing Guild [January - June retrospective I wrote](https://www.notion.so/thresholdnetwork/Threshold-Marketing-Guild-Retrospective-Report-2b5d25cbe5c94fac91883ca21b746dfc), as well as the condensed version [I presented in this Community Call](https://youtu.be/3FPbUktBkBo)), we noted the amount of time that guilds need to spend on planning and infrastructure in the absence of a corporate structure. In short, it’s a lot harder to coordinate 8 people each doing an hour of work that one person can do in a day. All of this comes at a particularly difficult time - with crypto winter, global macroeconomic headwinds and the increasing regulatory challenges to DeFi and DAOs. **EMPOWERING US TO DO MORE** I have the professional background, the Threshold relationships and at the moment the time to be able to greatly expand what I’ve been contributing part-time this year as a Marketing Guild participant and committee member. I propose a short-term but full-time role wherein I’ll devote 50 hours per week to: a) executing the activities the DAO most needs me to perform b) seeing that all Guild and committee efforts are aligned with those of the Keep and NuCypher teams, as well as with the [Marketing Guild Committee OKRs](https://www.notion.so/thresholdnetwork/Marketing-Guild-OKRs-Q3-2022-e3a2a3bcb7d145fea6c49ead6143359b) c) ensuring that other guild contributors have what they need in order to deliver results In terms of specific activities, I believe the guild OKRs (which [I led alignment on](https://docs.google.com/document/d/16ONYHNg8lLeahW24MOxXYM9jA9elGTxl8lIdzMAUyaI/edit?usp=sharing)) are the right ones, and our challenges have been bandwidth and insufficient focus on delivering them. * OKR #1: Support the tBTC v2 and thUSD product launches * OKR #2: Create content that educates on Threshold’s benefits * OKR #3: Amplify Threshold community growth * OKR #4: Develop & maintain Marketing Guild infrastructure So in addition to the specific OKR activities I currently lead… * Publish at least 4 issues of Threshold Time newsletter * Execute at least one campaign and 3 community bounties * Prepare and submit Q4 Budget Proposal …I'll have the greatest impact by a) addressing impediments the committee and contributors have and then b) helping hold us all accountable for results, including c) measuring the results properly. In addition, as noted above, Threshold deserves a lot more attention for the value it creates, so these are other OKR activities I propose to emphasize and contribute to: * Help secure at least 200 nodes earning tBTCv2 rewards (i.e., stakers) * Secure 2 or more earned articles on Threshold; evaluate paid opportunities * Design and execute a social media strategy * Support at least 4 sessions/events with other Web3 organizations via Threshold Embassy Finally, I believe it’s important that we use (and support) Web3-native tools wherever appropriate, so in addition to those we’re already using (Background Network, Layer3, Sparkwave, Mint Kudos) I will ensure we continue evaluation of solutions like Galaxe, Sobol, Unstoppable Domains and others. **MY BACKGROUND** My career includes [25+ years leading marketing and product efforts](https://www.linkedin.com/in/johnpackel/) from smaller companies (including several startups) to American Express to ConsenSys, and I’m an angel investor in a number of Web3 companies. Moreover, I have been an advisor to Keep since 2017 and very active in the Keep and now Threshold community, including: * Being one of the larger Keep stakers (active since inception) * Engaging constructively in Discord discussions, Forum proposals and Snapshot votes * Helping found the Marketing Guild in early 2022 * Serving on the inaugural Guild committee; in September re-elected to 12-month role **PROPOSED TERM** 6-month initial term, with option for the Marketing Guild and DAO to modify. The goal here is to significantly accelerate our current communications efforts and jumpstart campaigns supporting product launches. While we may find a need to create a permanent role, my aim is to achieve significant results in the first 3 months, which will allow the Marketing Guild and DAO to assess the return on the initial investment and either continue, modify the arrangement or discontinue it. **ACCOUNTABILITY** In addition to the current full transparency of Marketing Guild meetings, discussions, OKRs, budget, etc., I will maintain a page on Notion with my weekly focus and activities, as well as write a monthly report documenting progress and highlighting any areas of issue. I also welcome any additional suggestions that community members have in terms of increasing visibility into both my activities and those of the guild generally. **COMPENSATION** 18,275 USD / month ($85/hour), payable semi-monthly in USDC After reviewing the compensation and time commitments of Threshold’s other current contract positions and thinking about the expected return to the DAO of accelerating and enhancing our external and internal communications, I think this is a very reasonable expenditure. I’ll note that it’s less than the market rate for this type of service (and keep in mind that contractors in the US pay double the usual employee portion of Social Security taxes). I suggest that it makes the most sense, if there is no objection, to have this proposal presented to the Marketing Guild Committee, and draw the compensation from the Marketing Guild’s Q4 budget (and we have remaining Q3 funds to cover initially). However, if there is consensus that this should have a Snapshot vote, that’s fine - and I’m willing to start increased hours in the meantime in expectation of ratification. Thank you to those in the community who have been encouraging me to make this proposal. I’m excited to hear comments, engage and move forward. LFG! *Links:* [Marketing Guild January - June retrospective](https://www.notion.so/thresholdnetwork/Threshold-Marketing-Guild-Retrospective-Report-2b5d25cbe5c94fac91883ca21b746dfc) [Community Call presentation of Threshold H1 review](https://youtu.be/3FPbUktBkBo) [Marketing Guild Committee OKRs](https://www.notion.so/thresholdnetwork/Marketing-Guild-OKRs-Q3-2022-e3a2a3bcb7d145fea6c49ead6143359b) [LinkedIn: John Packel ](https://www.linkedin.com/in/johnpackel/)

*TLDR* If passed by the DAO, this proposal would see the Threshold protocol mint 250m T tokens. The sum distributed, and therefore withdrawable, will depend on the average staking rate between October 1st and January 1st (if it were to remain static, then approximately half of the 250m will be distributed). Every stake associated with a functioning PRE **and** tBTCv2 node will grow by 15% APY (~3.82% over 93 days is the target yield in this epoch). For the reward split schedule (between the two applications), see <[TIP-032](https://forum.threshold.network/t/tip-032-council-decision-reward-allocation-between-tbtcv2-pre-overall-target-apy-15/393/4)>. *Minting sum calculation* For more details on the minting methodology and token distribution procedure, please see <[TIP-030](https://forum.threshold.network/t/tip-030-mint-265m-t-tokens-for-the-council-to-distribute-following-the-stable-yield-model/370)>. 1. This minting event will seek to cover the period of October 1st 2022 until January 1st 2023. This is equivalent to 93 full days of staking. 2. The target stake growth in this time is: (15% / 365) * 93 = 3.82%. 3. Based on the total T claimed up until today, the liquid circulating supply is 10.141bn T. There is 3.12bn staked, which implies a current staking rate of 30.76%. This means the sum of tokens required to universally increase all stakes by 3.82% is: (3.82% * 10.141bn) * 30.76% = 119.2m T 4. The ‘ceiling’ staking rate is computed to be 63.32% – three standard deviations of the daily historical staking rate (mean) since network launch, added to today’s staking rate. This approximately covers the 99.7% percentile of future staking rate scenarios, assuming a simplified normal distribution. It is reasonable to assume that the launch of tBTCv2 could be as impactful on the incentive to operate a node as the launch of the network in April, hence the variance calculation above includes data entries starting from network genesis. 5. Applying the same calculation in (3) but inputting the ceiling staking rate instead of today's staking rate, the sum of tokens required to deliver 15% annual yield to all eligible stakes (until January 2023) would be 245.44m T. 6. Rounding up, this proposal therefore suggests that the Threshold DAO mint **250m T tokens**. Note that *about 49%* are likely to be distributed, unless the staking rate grows far quicker than it has in recent months. The excess tokens will be withheld by the Council and are not made liquid or withdrawable, but may be used for future rewards later in 2023.

**TIP-037 Gas Reimbursements for v2 Node Operators** ⛽️ **Vote Type:** Token holder DAO snapshot, 5 day vote window **DAO Elected Representative Sponsor:** Vict0r, David **Overview:** This is a proposal for the Threshold DAO Treasury Guild to reimburse tBTC v2 node operators for gas costs their clients incur when sending necessary transactions to Ethereum. **Milestones and Deadlines:** Gas reimbursements start when minting goes live. From there it is an indefinite expense. **Who is Involved:** Threshold Treasury Guild, tBTC v2 Node Operators **Why:** The goal of this proposal is to avoid "dishonest" tBTC v2 operators modifying their clients to maximize returns. Dishonest operators modifying clients can slow down the tBTC v2 network. **Detailed Summary:** tBTC v2 operators run off-chain clients. Off-chain clients occasionally send transactions to Ethereum. The client needs to pay ETH in gas for the transactions. There is no efficient way to force someone to send that transaction. This means, a situation could emerge where operators modify clients to not send any transactions in order to not spend any ETH on gas as a method of returns optimization. This would slow down the network. *Expected Cost:* This is not expected to be a major cost for the Threshold DAO if passed. The expected cost for this proposal is variable because it is based on tBTC v2 network usage and Ethereum gas rates. This table gives an estimate of cost by function call frequency and by gas unit cost:  For more information on the purpose of these five transactions please refer to the tBTC technical docs [here](https://github.com/keep-network/tbtc-v2/blob/main/docs/rfc/rfc-1.adoc#continuous-fees). The expected cost for this proposal is between .197e and 1.97e per week. *Reimbursement Mechanism:* Reimbursement is automated through a Reimbursement Pool. More information on the Reimbursement Pool is located below. https://github.com/keep-network/keep-core/blob/main/solidity/random-beacon/contracts/ReimbursementPool.sol. **Tx Details (If required):** N/A **Additional Info (Optional):** This proposal was originally discussed at a Threshold Treasury Guild meeting. From there updates were made based on group feedback. Next it was discussed at a Threshold DAO contributor sync.