Weekly update on development process (Nov 29, 2021)
- ⚒ Implemented “Create offer” page for partners (earlier they had to provide liquidity using a blockchain explorer interface, now they can provide liquidity using the app UI)
- ⚒ Deployed “Calculate profit” page (still testing with selected users, not an official release yet)
- ⚒ Wrote a specification for the new website (rebrand).
- 🤝 Helped Marnotaur migrate liquidity to another address (internally within their team; TAUR liquidity is still in the Coliquidity contract).
- 👬 Worked on our hiring pipeline.
Hiring is hard due to the following factors:
- It’s hard to define objective criteria for programmers or salespeople.
- It’s hard to assess the quality of hiring decisions (you need to work with the candidate for some time to understand whether they are actually good or not).
- It’s hard to check whether your hiring pipeline is correct (you always get some good people & some bad people)
Additional factors to consider:
- The best people almost never look for a job.
- The best people start their own companies (especially in crypto).
- The best people are not motivated by money (they naturally make enough, so that it ceases to be a motivation factor).
For the whole lifetime of our company, we filtered ~80 resumes, had ~20 calls, hired 3 programmers & 1 marketing specialist. Of those, only 1 programmer was good, but he was working as a freelancer on multiple projects, and couldn’t devote enough time to our project. We don’t want to “shoot into the darkness” anymore — we want to build a reliable hiring pipeline that will bring us good candidates.
However, we also don’t want to turn into a hiring agency. We don’t want to spend too much time on selecting the candidates.
While looking for a solution to this dilemma, we’ve researched different decision-making systems. We’ve realised that the decision-making system defines the company. The company culture — a set of values — is actually an informal decision-making system. For example, if the company culture is “move fast and break things”, the programmers will not write the tests & will release buggy code. It’s OK for Facebook (ahem, Meta), but it’s not OK for Shield Finance (we’re handling other people’s money, not cat photos).
We have found multiple high-level informal decision making systems (guidelines, rules-of-thumb). We also found multiple formal decision making systems tailored to specific domains. However, we haven’t found a formal system applicable to our company.
We feel that picking a good system will speed up our operations, so we’ll continue looking for it.
Next week’s focus
- ⚒ Make a new website template based on the specification.
- 👬 Design a hiring pipeline.
Please note that the “hiring pipeline” will remain in focus for multiple weeks. Hiring takes time, and we need to hire multiple people.
If you have questions about our progress, please send them to the special group. This week we will host an “asynchronous” AMA — we will answer the questions and post a recording on Wednesday. We feel that such a format is better for internal community Q&A, because it allows the participants from all timezones to send the questions in advance & listen to recordings separately.
About Shield Finance
Shield Finance ($SHLD) allows users to make more money using Coliquidity, which allows them to bank on uptrend & collect LP fees at the same time. If you want to get notified about early access to our product, please follow our Telegram & Twitter. If you want to trade the $SHLD token, use Uniswap or DEXTools.
For any questions about Shield Finance, please reach out to us on:
YouTube: Shield Finance