MIP.C3.0001 The MAHA Roadmap 2023

Governance Treasury/General Proposals (C3)
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It has been over 2 years of building, researching, and innovating with MAHA. And while we have built so many products in the last 12 months, I think it’s time to get the community’s vote and feedback on the path ahead and see what we can do to move MAHA forward.

Moving forward, we will try to avoid blogs and articles and instead focus on discourse. Coming together on the same page as a community is a very important step in creating something driven by the people for the people.

Which is why this roadmap is posted here for us to debate on the best way forward and will be put up for a governance vote once we take feedback from our community.

The 4 core values we should focus on

So before we jump into it, I’d like to reiterate the four core values we should keep in mind when building our roadmap.

1. Strengthen Core Technology

  • Continuously improve the underlying blockchain technology, smart contracts, and tokenomics to enhance stability, security, and scalability.
  • Collaborate with reputable auditing firms to perform regular security audits and ensure transparency.
  • Consider implementing cross-chain compatibility to support seamless integration with various blockchain networks.

2. Expand Partnerships and Integrations:

  • Partner with major cryptocurrency exchanges, wallets, and DeFi platforms to facilitate easy onboarding and adoption of the stablecoin.
  • Collaborate with merchants, payment gateways, and financial service providers to enable real-world use cases for the stablecoin, such as remittances, lending, and online transactions.
  • Partner with reputable projects and platforms in the DeFi ecosystem to expand the stablecoin’s reach and utility.
  • Collaborate with oracles, data providers, and infrastructure projects to ensure reliable price feeds and seamless integration with other DeFi protocols.

3. Develop a Robust Ecosystem

  • Foster the growth of decentralized applications (dApps) and platforms built around the stablecoin, providing users with various financial services and opportunities.
  • Incentivize developers and entrepreneurs to build innovative solutions and products utilizing stablecoin through grants, hackathons, and contests.
  • Educate users on the benefits of stablecoin and its potential applications through webinars, workshops, and online resources.

4. Marketing and Community Building:

  • Develop a comprehensive marketing strategy, focusing on social media, content creation, influencer partnerships, and targeted advertising to raise awareness of the stablecoin.
  • Engage with the community through regular updates, AMAs (Ask Me Anything), and feedback sessions to maintain transparency and trust.
  • Attend and sponsor relevant industry events, conferences, and meetups to expand the stablecoin’s network and promote its adoption.

Roadmap / Plan of Action

With this in mind, I’d like to propose that the DAO focuses on initiatives that will follow a timeline similar to the one described below.

The different phases in our roadmap are categorized by the TVL (Total Value Locked), which is a good milestone for us to consider. The issue with dates is that it’s always hard to meet up to it. so it’s better to quantify with TVL or market cap.

Phase 1: $0-5mn TVL

This is where we are right now. We are at the early stages of ARTH and looking to complete an audit of our entire protocol and start growing our TVL.

The focus of this phase is security, proving scalability, and showing early revenue.

  1. We complete our audit and work towards securing our entire ecosystem. (ARTH, Governance, Mahalend, etc.)

  2. We work with insurance providers and bug bounty platforms such as Immunefi, UnoRe, and Hats Finance to incentivize white hats to find and report vulnerabilities.

  3. Provide yield farming opportunities to scale our TVL and provide enough liquidity for the general public to enter/exit.

Target Users: Early adopters of MAHA & ARTH

Phase 2: $5-50mn TVL

At this stage, we are still focusing on the Ethereum chain and DEXes. But we are now big enough to start collaborating with various other protocols to grow our TVL even further with incentives and gauge rewards.

  1. Submit proposals to various incentivized DEXes, such as Curve + Convex, Balancer, etc., for rewards to further grow our TVL. These platforms also contain the right user base for us to attract (Yield Farmers, Liquidity Providers, etc.).

  2. Start working with various yield aggregators such as Yearn, Harvest Finance, Beefy, etc.

Target Users: Curve, Yield Farmers, LPs

Phase 3: $50-100mn TVL

This stage is where we move cross-chain and also start focusing on various CEX listings.

  1. We will work with Chainlink and other oracle providers to provide ARTH price-feed on various other chains. This allows us to build tooling that can allow us to go cross-chain now.

  2. Start working with various chains and applying for grant programs

    1. Chains: Polygon, BSC, Arbitrium, Optimism, etc.
    2. Projects: DEXes (Curve etc…), Lending Protocols, Yield Farms, etc.

  3. Start getting ARTH listed on various CEXes. Centralized exchanges are a great way for us to tap into more layman users and give them exposure to ARTH.

Target Users: Users within the overall crypto space

Phase 4: $100mn-1bn TVL

At the $100mn TVL mark, we are big enough to launch our own MahaChain and start focusing on developing our own ecosystem. At 100mn$ TVL, there’s enough liquidity for us to allow retail to start entering into the ecosystem.

MahaChain will be payment focused, and it will mainly target layman users. MahaChain will focus on fast transactions and low fees and provide built-in incentives for ARTH transactions with MAHA.

Target Users: Users within the overall crypto space and in high-inflation countries

Phase 5: $1bn+ TVL

At this stage, we would have enough liquidity to start approaching nations, grow ARTH and MAHA at a global scale, and start to develop our little economy.

We have draft plans for launching a UBI (Universal Basic Income) system, but what will happen beyond this phase is yet to be fully documented (without losing touch with reality :sweat_smile: ).

Target Users: Rest of the world

Conclusion

It has taken us a lot of experimentation and trial/error for us to get to where we are here today. I believe the model we have for ARTH with its non-USD over-collateralized price peg is exactly what the industry needs today after the recent USDC collapse.

This is not your typical “Let the team do its job” roadmap; Being public about it and taking collaborative feedback, and having it voted upon by the community is important.

More power to the community again :smiley: This roadmap will be put up for a vote for approval from the community.

  • Approve
  • Disapprove

0 voters

5 Likes
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I’m a bit concerned with Phase 3. For me it sounds like that we just launch MahaChain if we have enough TVL. What if we stuck with $50mn TVL and the chain is ready to launch? Will we still launch it or wait until we have $100mn. In my opinion there should be a combination of both Dates and TVL.

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I support the proposal, but addressing an urgent priority is crucial before proceeding. Restoring confidence in MahaDAO is essential, and a reputable audit is a necessary step. However, obtaining insurance takes precedence. In agreement with Steven, safeguarding our ecosystem is vital to overcome past hacks. Instead of waiting six months or more, we should promptly secure grants and funding to eliminate insecurity.

A thoroughly insured stablecoin protocol is appealing, especially considering the challenges faced by the crypto industry, including MahaDAO. It could be the key to attracting potential investors. If the team requires help in securing grants, I’m willing to spearhead a volunteer group and contribute my time for MahaDAO’s benefit.

MIP.C3.0001 Approved

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I agree partially over here. If us achieving higher TVL is based on the MAHA farms then yes, it might be a struggle to go from $50mn to $100mn unless MAHA price doubles. However hopefully by then we’d have other means of having ARTH being used.

The main reasoning here is that we should have enough liquidity for activities on the MahaChain to execute on. Things like swaps, defi etc… will need some decent liquidity on the eth chain.

However I do agree with your point that the chain if it’s ready can go live right away.

Besides TVL and chain development, we also need to focus on the audits and building a community of validators who will support the chain. So yes, in this case this particular milestone cannot be only TVL dependent.

I guess for now we can put a few extra conditions on the chain launch.

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Totally agreed medic! To restore confidence back, we need focus on a few things.

  • Increasing transparency: We are adding in some more analytics onto our Dune dashboards so that information and progress about the DAO is made public.

  • Conducting more audits and Pen-testing: We are right now getting a few audits done including one by a top tier audit firm. And working with bug bounty programs such as Immunefi, Hats Finance etc…

  • Insurance: This is where we can pay some capital upfront but insure a certain portion of the TVL. If the DAO can allocate some percentage of it’s treasury towards this, it would be a great addition.

This is an interesting tangent! Of securing grants for the purposes of security, I haven’t really thought about it. Would be great to understand how this could play out !

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If development is ahead of TVL goals, then it would make sense to release earlier when possible. Putting a date however would be difficult as TVL is not something you can anticipate accurately to a timeframe.

I would say doing the audits first would be a greater priority as that would make it easier to have lower premiums. Even still, DeFi insurance has its own complications still in regards to capital supply – InsurAce, Nexus Mutual, Unslashed, are potential options but each has different limitations with coverage supply, unregulated/reinsurance, high premiums – and then you still have counter-party risk. As a DAO we would need to weigh this up as a separate proposal to give protocol wide coverage to all – for now it would make better sense to have this as opt-in, where individuals organize their own coverage. For example, the TerraLuna fall could not of been completely insured as it was too big compared to what is available for coverage – yet <1% took out individual coverage which was able to be accommodated. In addition, these DeFi insurance models have their own contracts that get audited – and they’re in limbo with regards to reinsurance regulation. Currently less than 1% of the $40b+ defi space is insured. Its more of an industry wide issue of viability and trust – conflict between expecting larger reinsurance coverage in a space that is not FDIC regulated.

One of the key things I think we need to focus on early is the UI/UX design and flow of the website – currently its scattered across too many pages which could be organized under a single sub-domain of the main website – something like mahadao.com/ecosystem. Then have tab links for different products and services as sub-domains. This way each individual product/service also creates awareness of all other products and services – as opposed to stumbling upon different things by clicking on text links that are not intuitively placed. Ideally, should be able to direct a DeFi novice who knows nothing about the project to our website, and the website design anticipates what they’re there for, what they may need to know, what steps to take, and what is the mutual benefit of participation. For new investors, the website is generally first point of contact – so it needs to balance the informational needs and investment needs without breaking most peoples rather short attention span. If something is too cumbersome, overwhelming or even mildly frustrating with the user getting what they seek easily – then you’ve lost their business. The main website is a statement as to our marketing, design skills, organization and ability to identify and understand the target audience and their needs. The website is the front facing sales-pitch and first experience of new people coming to Maha – it needs to leave a great impression and more importantly – a great user experience. At the moment, it entices too many questions without providing direction on what to do, and ‘why’ to do things.

On another note, I think the TVL benchmarks for progress development is a great approach – makes a lot more sense with managing expectation and capability to undergo bigger ticket items at more appropriate stages. Would like to also see Delegation portal and “Organization Gauges” integrated in perhaps around phase 2 or onwards. Growing community is half the coin, the other being that we organize community into more local collaboration – to go from passive holders to proactive engagement and support. I think some of these elements can be organized earlier on while leading into Phase 4; more specifically incentivizing growth of national orgs and fund them via ‘org gauges’.

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Let’s go team!! It’s looking great

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I find the “DeFi”/Technology roadmap good and support it, but…

  1. it’s exactly a “let the team do its job roadmap” (as far as the execution of the phases after the vote is concerned)

  2. it is a pure DeFi/Technology roadmap.

The four phases deal exclusively with DeFi products/development, which are all good and important, but…

It is/was written to be less team and more DAO, but there are no steps regarding community building and moving towards a DAO (planning, structure building, decentralization, governance, etc.).

With People of Eden (PofE Brand, NFTs, Gifts of Eden, Discord Community etc.), we now have also a strong community site, which is under expansion. The majority of the people, I think, who come to us through People of Eden, have no or very little knowledge about our DeFi products (ARTH, Mahalend, Gauges, Farming etc.) or about the financial and monetary system or inflation. We must build therefore not just DeFi products, but among other things also a (learning) bridge between the products and the own community (PofE). Education and awareness is a very important point. Not only that of the community, but also of the public. And a community which does not understand anything about our DeFi products would live in a parallel world and would not be suitable as DAO governance.

Building the Maha/PofE community, informing about ARTH and Maha, as well as providing knowledge about economic systems, money, inflation, blockchain technologies, etc., should therefore also become a focus. With the NFTs we bring new members into the community, but they should also learn about ARTH and the DeFi products, as well as Maha and the DAO and (be able to) spread this knowledge. And participate in building the DAO.

This includes, among other things, the optimization(s) of the website(s) already mentioned by @Michael. These websites should be consolidated or connected, as well as contain much more information about our products, our plans, the DAO structure or general topics (as described above) about economy and money and should show and explain why we developed products like a Valuecoin ARTH in the first place etc.

I can find a lot of interesting stuff in the 4 Core Values, but none of it in the Roadmap, as goals, next steps or todos.

I could imagine that we develop a separate roadmap for other areas (like building the community and transforming it into a productive DAO with governance structures), where we define goals and steps, independent of TVL phases.

  • There is also no mention of MahaStarter.
    IBOs on MahaStarter take time, but they are good marketing, increase Maha staking share through new participants (reduces Maha share in circulation), and increase APR rewards in staking through IBO tokens. New IBO projects also increase the ARTH/MAHA ecosystem and keep the community in action. Again, we should set a goal or two to not leave this out.

These are also rather all points where the community itself could help, in contrast to the technical things in the DeFi roadmap.

Regarding the “DeFi”/technology roadmap based on TVL presented in the entry thread, I have the following additions and comments:

  • Audits and security: as both the roadmap and the feedback show, this is a key point. Also from my point of view this should be a priority at the moment. We need to ensure security and functionality of the products in order to build TVL.

  • Regarding security and insurance solutions, perhaps we could brainstorm in a separate forum thread. Two inputs on this:

Insurance: This is where we can pay some capital upfront but insure a certain portion of the TVL. If the DAO can allocate some percentage of it’s treasury towards this, it would be a great addition. (@enamakel)

a) This is also what I was thinking. We could e.g. let a part of the monthly Maha inflation as well as a %-part of the current incomes flow into a security fund, which we use for whitehates reports as well as for the compensation in case of possible hack etc… A sort of an own insurance pool.

b) Furthermore, we could perhaps look for an insurance partner to provide an insurance solution for selected large liquidity providers. A partner to cover deposited assets for a portion of the APR rewards (as long as large audits have not yet been completed, perhaps MahaDAO could cover a portion of the insurance fee). Later, this insurance solution could be extended to all liquidity providers and stakers.

Phase 1: $0-5mn TVL

  • Besides completing the audit, we should definitely fix all the bugs on the existing products first. There are still things everywhere that don’t work or old todos that still need to be done, from Pool Voting to Farming Rewards to Governance Voting or NFTs on Polygon. Before we start with the products and build TVL, these things have to be fixed and completed. Otherwise, we’re dragging more and more todos behind us.

Phase 1-2: $5-100mn TVL

  • Here, we should not only focus on building up liquidity, but also begin to develop one or the other gateway to the real economy and the people (via ARTH app, WordPress/Magento plugins for e-commerce, dApps API) and build up the first users.

These tools should be ready at the latest when we can launch on a chain with cheap fees or on MahaChain. We could limit the number of shops/stores to begin as long as we still have little liquidity. But it is important to give ARTH a real usage outside of our “complicated” DeFi products. And on the other hand, we are trying to educate people (PofE and beyond) about ARTH, inflation and the monetary and economic system, so it is helpful to be able to put this into practice. Our own merchandising store will certainly be a good start.

Further comment:

  • Positioning ARTH as a valuecoin:

The entire roadmap only talks about the “stablecoin”. However, the value and uniqueness of ARTH is that it is a “valuecoin”. Not only does this set it apart from the established competitors in the market, but it is effectively the spearhead of a whole new generation of stablecoins. We should therefore use this name (“Valuecoin”) both internally and externally and establish ARTH with it. Due to the current stablecoin, banking and inflation crises, we have a very good starting position for this. So it’s an ideal time for education, branding and marketing with it.

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Do agree with this – there will be an announcement/update next week regarding an education portal. @Schlonki has done amazing work on it.

You’re right, we should be more consistent with it.

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I fully support the roadmap and wish the team success to achieve the goal of establishing $ARTH as a true valuecoin!

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A great project with its team, community and developers. Go to the Moon :rocket:

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So being less team and more DAO is an important facet here. It is something important for us to consider if we have to build something that can scale beyond one entity. Something that is open and available for all.

We should ideally address the roadmap for the community and roadmap to the DAO as a whole other topic all together.

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I support and approve of this Roadmap. I understand the subtext of MahaDAO and ARTH’s vision, admirable! I would like to add a few comments regarding the required vision that MahaDAO has.

MahaDAO plans to create an ecosystem and increase the use of ARTH as well. That’s why the Launchpad function plays a critical role here, but in Roadmap this function is never included. I think this is a shortcoming because I think it is necessary to prioritize Launchpad in order to both integrate ARTH and attract people’s attention. When I first invested in MahaDAO, I invested in Launchpad, not the DEFI or value coin vision of MahaDAO.

The motivation of my 6-7 friends around me to invest in this project is the projects and earning opportunities on Launchpad. I think it is necessary to attract more people in this way and then have them use our other functions. The launchpad function is an important force multiplier for the project.

Thank you team for your great effort!

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I also think that we should we should start to look at expanding our lending protocol to other chains right from the very beginning itself.

MahaLend, being a lending protocol can attract a lot of DeFi users and doesn’t need that much liquidity to scale and has a very clear usecase for DeFi users.

Users who would like to leverage on DeFi pools, can do so if we accept those tokens as collateral in our lending protocol.

The biggest issue has been that gas fees has been tremendously high on the ETH chain (100$+) wheras on other chains we can easily execute these strategies within 1-2$ or less. At the start we should look at launching on Arbitrium and zkSync.

MahaLend’s TVL also contributes to MahaDAO’s marketcap as well and gets use the userbase we need to bring ARTH to the 1-5mn$ marketcap.

So to summarize, we should make our primary goal to grow ARTH collateral on the ETH chain; but then scale our DeFi TVL cross-chain simulataneusly.

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The launchpad will become more and more decentralized and we should start to see more launches coming in. The main thing here is finding enough buyers and liquidity once a token has launched. Which is why taking any project on the launchpad is going to be a bad idea.

We should always be selective at these moments.