Operations cycle: #4
Period: 1 August 2021–31 October 2021 (3 months)
The Business Operations Team has the responsibilities below. The scope of the project will vary periodically, and this list represents the current state. Additionally, Mason Burkhalter and Heikki Vänttinen are designated as authorized signatories on behalf of the API3 Foundation for such agreements reasonably related to accomplishing the objectives and deliverables set forth in this proposal, until revoked by subsequent DAO resolutions.
Oversee general project development, including facilitating inter-vertical visibility
- Align operations across verticals with project mission
- Coordinate key operations and facilitate effective communications between teams in different operations verticals
- Report to investors and other stakeholders
- Steer execution
Maintain, monitor and operate infrastructure, including:
Company Drive repository
Security of infrastructure (Cloudflare etc)
Communication and operations tools/platforms - Trello, DocuSign, Salesforce, etc.
GDPR compliance oversight and maintenance
- Subject Access Requests
- GDPR Audits
- Regulatory contact and management point
Facilitate staff onboarding across foundation
- Access to API3 operational infrastructure, provisioning of new users/staff
- Operational user accounts for performance of tasks - permissions etc
- Access to and ongoing development of training resources and educational materials
- Design, maintenance, curation, and auditing as require
Legal and Compliance Services
- Correspondence and negotiations with service providers, auditors, developers, partners, external counsel for legal opinions required by third parties, partner projects and entities
- Ad hoc agreement drafting and negotiation
- Compliance and regulatory research and communications
Additional Operational Tasking as required (ad hoc)
- The destination for this proposed budget is a wallet address managed by Mason.
During operations cycle #3 and in addition to other operational expenses like Slack, DocuSign, managed security services, API3 business servers for mail and web, the operations team promoted the BD - API Lead (Mason Burkhalter) to the role of Director of Operations, and has moved Emily for process analysis and Greg for Salesforce administrative management and support.
Moving forward, the operations team will need to cover all operational overheads of the API3 organization, including tools like Slack, Salesforce, DocuSign, API3 business servers for mail and web, managed security services, audits and training, etc. For these expenses, we will combine realized expenses from the previous BD - API cycle that are more appropriately labeled as operational expenses (i.e. Salesforce), as well as to use the previous cycle’s realized Operations expenses as a guideline. Further, the operations team has worked in unison with the BD-API team to develop new verticals and to trim down that team to only relevant personnel. For example, Camron will now be heading API3’s API Integration efforts and has built a team for this purpose that resulted in the movement of himself and Brandon from the BD-API team. The operations team is attaining Mason, Emily, and Greg; and has also incorporated a new part time role filled by Kyle to assist with DNS and network security tasks associated with email server and deliverability issues that have cropped up occasionally. Other personnel movements from the BD-API team include Ugur to Marketing, Gio to the BD Enterprise team, and Jacob G to the BD Platforms and dApps team.
In the previous cycle, the organization purchased a DocuSign plan for the year which will be used across the organization. Additionally, the team was over budget in cycle #3 due to legal fees associated with researching the security status of the API3 token in the EU and US jurisdictions, which is ongoing. Because of the continuing need to purchase new tools or subscription services and due to the ever evolving nature of organizational support needs that will be defined as the DAO grows rapidly, a 10% overage rate was applied to the cycle #4 budget as a means of hedging against any unforeseen miscellaneous or legal expenses that may arise as they have in the previous cycle. Any amounts left over in the end of Cycle #4 will be applied to the following budget cycle.
- API3 DAO Launch
- Open Bank Project partnership operational support provided.
- EEA event for cycle #3 - resources secured and supported.
- Attended BTC Miami for networking
- Greg repositioned to Operations team as Salesforce Process Manager
- Mason repositioned to Director of Operations
- Emily repositioned to operations team to manage processes
- Analyzed key functions of business development and integrations in order to coordinate efforts - ensured development of necessary documentation and processes
- Assisted in structuring Marketing efforts as they develop key customer analysis tools
- Restructured the organization to better suit the needs as API integrations begin, moving valuable members to best-suited verticals
- Salesforce functionality improvements:
- Restructured lead tracking and redistribution in SF
- Created process flows for lead data imports and opportunity creation to streamline BD processes
- Created opportunity processes for the integrations vertical to keep records in SF
- Continually improved processes around recycling leads to improve lead generation capture
- Worked with Marketing to integrate an email marketing tool to facilitate data collection and improve email deliverability and business intelligence
- Developed Integrations processes as API Providers begin running Airnode
- Formalized the legal structuring of the DAO-governed API3 Foundation legal entity
- Negotiated and finalized agreements with auditors, several enterprise contacts, and continued support and dialogue with prospective third party partners and services
- Funded legal research on the token security status in the EU and US, which is ongoing
The majority of the team’s work is a regular series of daily operational tasks and management of internal business resources built to facilitate the successful business functions of API3 on a daily/weekly/monthly basis. These relate to the maintenance and operation of business-critical tools and infrastructure and regulatory compliance requirements such as GDPR, privacy, security etc, granular details most of which are by necessity confidential for legal and operational reasons, as is the case for any commercial organization.
Additionally, the operations team has been designed to serve as a readily available support vertical to all other verticals in the organization. This means that the team plays an active role in identifying gaps and strategic initiatives, and then defines and builds the processes and structure needed to adapt to or fix an observed inefficiency or problem. As such, deliverables will revolve around increasing the quality and effectiveness of verticals organization wide while aiding in the reduction of costs and inefficiencies as the organization evolves.