Osmosis Support Lab —August 2022 Update
Greetings Osmonauts! The dreaded bear market has come at last, and we have a few updates to share with you. Like many of you, the Support Lab was significantly impacted by the price drop caused by macro market conditions and the Osmosis exploit.
As set forth in our last funding proposal, our quarterly operating budget was based on an assumed OSMO price of $1.70. However, soon after the proposal passed, the price of OSMO plunged by over 60% to a price of $0.70. While it has since recovered slightly, we’ve had to tighten our belts and make some difficult decisions. In the interest of transparency, we’d like to explain these recent decisions and why we’ve had to make them. We’d also like to share more about what we’ve been working on throughout the last quarter.
Staff Reductions
This quarter, the Support Lab has reduced the size of its admin team by 20%. Five of our outstanding support team members either left their positions voluntarily or were let go. We greatly appreciate the contributions that these admins have made to the Osmosis community and to the Support Lab. Osmosis is a better, more user-friendly protocol because of the dedication and unwavering commitment shown by every single one of them.
Though a difficult decision, we felt these staff reductions were necessary in order to make future Support Lab budgets and quarterly spending proposals more sustainable in this uncertain and rapidly shifting market environment.
Multisig Signer and Admin Pay Reductions
For the remaining support staff, as well as for the multisig signers, a 20% pay decrease has been implemented across the board until such time as the market improves. Per this pay reduction, junior admin pay has been reduced to $3,200 USD per month, while senior admin and multisig signer pay has been reduced to $4,000 USD per month.
When combined with the staff cuts outlined above, this pay reduction will result in a significantly reduced OSMO cost to the community in Support Lab funding proposals moving forward into this bear market.
Osmosis Support Website
At the beginning of this quarter, we launched the long-awaited Osmosis support website to the public at support.osmosis.zone. This website was the result of a months’ long collaboration between the Support Lab, third party web designers and developers, and the maintainers of the Osmosis front-end.
On the site, you can find answers to frequently asked questions about Osmosis, instructional guides, how-to videos, and even an integrated and fully-staffed live support system that connects you to an Osmosis Support Lab admin to answer your question at any hour of the day.
Because this support network is integrated directly into the Osmosis website, Osmosis users looking for support can freely ask questions without ever worrying about scams. With the launch of this website, Osmosis becomes one of the only decentralized exchange protocols in existence with a dedicated support network that rivals that of centralized exchanges.
Moving forward, one of the Support Lab’s major objectives will be to keep the website maintained and updated to reflect the current state of Osmosis, as well as fully staffed with support personnel to ensure that new Osmosis users are onboarded and assisted quickly and seamlessly. Currently, we’re working on expanding our suite of instructional guides! Here’s a preview of how they’ll look:
Osmosis Support Lab Town Hall
In advance of our next funding proposal, due to go on chain in September, we’ll be hosting an informal town hall in the Osmosis discord server. The town hall is currently scheduled for August 26th, but stay tuned for announcements with more information.
That’s all for now, folks. If you have any questions or want to contact any if the multisig signers or admins, our contact information can be found here.
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