Vinay Vasanji
@vinayvasanji.eth
I'm confused by how the EF has such a high run rate It seems like we need our own DOGE, or Department of Ethereum Efficiency, to tackle this and a bunch of other bloat across the ecosystem
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Adam
@adam-
Their recent cast about using SAFE also led me to wonder where these funds were coming from prior? SAFE has been around for a few years and is pretty much the standard as a base layer for community, multisig vaults. Curious as to why its taken this long for EF to embrace it and how things were handled prior? https://warpcast.com/adam-/0x38f97538
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Vinay Vasanji
@vinayvasanji.eth
EF gives me the vibes of the traditional non profit industry, inefficient, sclerotic, and fundamentally not effective in what they do Limited interaction with some of their grants team, but was somewhat unimpressed (despite successfully getting a grant) It needs to be completely reformed to be more in lockstep with the current state of Ethereum, and Vitalik needs to initiate it
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Adam
@adam-
Agreed! I want to believe @vitalik.eth can lay out a vision that is in step with how things can be done more efficiently, and aligns with how the technology and network have evolved since it's inception. My concern is that things are too bureaucratic for it to make these changes efficiently. Then again, I don't know what work is already being done to improve on things outside of finally embracing Safe.
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Vinay Vasanji
@vinayvasanji.eth
I think they should cut the budget down to single digit millions, or less Split out core functions into independent operating entities For example one entity should solely focus on maximizing yield from their holdings, similar to how universities have financial teams focused on growing their endowments and entirely separate functions for distributing grants and others ops I know universities are perhaps not a good reference for good org ops, but just directional guidance
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Vinay Vasanji
@vinayvasanji.eth
1. Ethereum Finance - maximize bags yield 2. Ethereum Research - FT paid researchers following the model of FROs (see here: https://www.convergentresearch.org/about-fros) 3. Ethereum Grants & Community - distributing funds and enabling community activation Each with distinct objectives, limited overlap MECE as we used to say in the consulting: mutually exclusive, completely exhaustive
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Adam
@adam-
Fully agree with your take here, although I wouldn't paint all university accounting with the same brush. I know some that navigate this balance pretty well. It really comes down to how they iterate on past mistakes and refine their approach from those experiences.
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