9.25 Governance Sync - Meeting Recap

Hello Buzzers!

This is a recap post of our townhall on 9.25.2021 from 9-10AM PST. These are updates and confirmed actions that we are considering and/or taking and moving forward.

:art: Artist Residency:

  • Want to do something we haven’t tried before, help other artists by collecting & flipping their drops
  • Artists end up giving up and don’t understand how NFTs work and their projects give up - if the bears can help, enable creators to release art to the bears, bears get exclusive access to minting before general public
  • Our current artists will work to form a collective to pilot this

:bear: Trading Traits & Companions:

  • We shipped the project as quickly as we could this summer - and we left out some traits from the original drop because of timeline
  • We want to be able to trade traits and release potions, which will likely go in the direction of being free + gas
  • Trading traits will only modify bears, not replace them
  • We want to introduce this likely before hibernation so that we may lock more rare bears or not etc., will have a new layer of rarity / combination of bears
  • Trading traits will come before the companions in terms of timeline
  • We are working on smaller versions of the bears for post-hibernation, you are able to redeem the og bear for a smaller one, and if you unlock it the original bear is returned

:chart_with_upwards_trend: Investment Committee:

  • Bearly liquid - high + positive engagement from the community throughout the server the past 10 days
  • We want to scale the community collective knowledge for honeypot investment - tradeoff is that not everyone will agree on investments if it is centralized by one committee
  • We want to split up into investment pods, give 5ETH each and have their own rewards system and structure
  • We will create guidelines and reward systems for the pods
  • Ideally up and running in 2 weeks, 1 week to create guidelines and structure, & vote to get approved by DAO, then 1 week of setting up pods and technical infrastructure w/ wallets etc
  • Experience / merit will be measured - ideally we do not want to gatekeep and allow even newer NFT adopters/bears to also participate

:tshirt: BBH Merch:

  • We are reaching out to a new vendor for T-shirt’s, still need help with production since Portugal shipping and costs are not worth it
  • We will not pursue dropshipping since it is not quality and can not create an exclusive drop

:moneybag: Rewards for the Community:

  • Young is being paid for making discord bots that have helped the community - and we want to reward the DAO accordingly as a more formal system
  • We will announce a form with stricter guidelines, of how people can submit their contributions, and how the treasury will pay out rewards for contributions
  • This rewards system is to incentive the DAO to contribute in the way that works for them and get compensated

:speech_balloon: Floating Conversations:

  • Stickers - artists are working on different variations for stickers, also looking into QR codes for the stickers and customization as well
  • Marketing Committee - many people want to only strategize and not implement, difficult to get off the ground. Will continually recruit for others to engage
  • NYC Meetup - I (Diana) will be coming to NYC the 3rd week of October! Would love to get an NYC meetup/happy hour (Fri 10/22?) for East Coast Bears that are in town or want to meetup. DM or comment if you’re interested in said meetup!

As always, please leave any questions, comments, concerns below and always open to DM’s. I will host the next townhall in 2 weeks!

-Diana

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Couldn’t attend the town hall today but thank you for the recap.

I may be able to help with new vendors for the BBH merch… who should I speak to about this?

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  1. Shipped the project as quickly as you could? That was 70+ days ago. Most of the minting went on 46 days ago. You had 20+ days to make changes before most/all of the minting was finalized. Rushed? LOL no you were not. This is a lie.
    2a. Trading traits after having this insider knowledge and purchasing 100s of bears between the dev team below mint. Cool.
    2b. Likely free? If its not 100% better go to the DAO. You guys do not need another revenue stream, already snuck in yourselves a double when we “voted” to increase the DAO’s take.
  2. This is now extremely rushed, we’ve been talking about hibernation since day 1 and it was supposed to be live within a month.
  3. Companions don’t matter cuz they are a new collection that anyone can do. No opinion here.

This all stinks. I actually would have probably maybe voted for this if presented properly. Now I just hope this scammy behavior drives up enough liquidity for me to exit in profit.

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What’s the motivation for trading traits? Someone break it down for me so I can understand better. Does this not impact the previous token economy and rarity?

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Also, shouldn’t some of these updates require a formal proposal before being announced?

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When I asked this, Mesk pointed at the GIF that shows votes are only for hibernating bears in discord. Then confirmed all our proposals that have been passed so far have just been for show: Discord

Mesk was being sarcastic. We are trying to create a governance structure that enables people to work on things without going through a tedious voting process. Nothing gets implemented without a vote, including the trait stuff.
This isn’t a new idea being suddenly sprung on us, the trait stuff was discussed over a month ago.

Can someone from the project respond to each of these points? Tone might be a bit aggressive but think these are reasonable issues felt by some in the community.

Thanks

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I agree with @eazye I was not able to attend the town hall, but I do not understand why hibernation is not live yet. It is pretty frustrating to read the summary and read about multiple initiatives, like t-shirts, yet hibernation does not seem to be a priority. No dates it will be live that I have seen…

It feels like there is too much going on. Too much focus on the honeypot investing not enough on the development of the community and actual features for those in the BBH.

I think this project has a lot of promise and I enjoy the community engagement, but it has been frustrating to see a lack of execution this far.

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I think we all agree with EE … Personally; traits and companions are worthless to me and while fun a waste of time. The ability to trade traits to me is also kinda odd… shifting the whole rarity (while i dont see it as nefarious as EE does (why he does, im not sure)) seems like a bad move IMO.

Potions that create a mutant etc. fun…

But when regular floor is .03x the corresponding projects wont be worth the gas it cost to mint them.

Seems like good ideas, but wasted efforts.

defi is working on this by himself and has said that he expects it done between late September and mid October.