# MIP-27 l Onboard Murphy Labs as a Parallel Service Provider
**URL:** https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375
**Category:** Approved PIPs
**Created:** [May 8, 2024, 3:40pm UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375 "2024-05-08T15:40:34Z")
**Posts on this page:** 20
**Page:** 1
### Author:  [@MurphyLabs](https://gov.parallel.best/u/MurphyLabs)
#### Post date: [May 8, 2024, 3:40pm UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/1 "2024-05-08T15:40:34Z")
**Summary:**
The proposal aims to onboard [Murphy Labs](https://twitter.com/murphy_labs) as a Parallel Service Provider. The allocated budget will support our ongoing initiatives to significantly boost the adoption of the Parallel Protocol and bring it back at the forefront of DeFi innovation for the upcoming years.
**Context:**
Murphy Labs is a company founded by [Jean Brasse](https://twitter.com/JeanBrasse_), [ManuRedPills](https://twitter.com/ManuRedPills) and [Boutchy](https://twitter.com/Boutchy_) in 2022. It currently has 11 collaborators and contributes to various DeFi protocols, most notably the Strateg Protocol.
[Murphy Labs](https://twitter.com/murphy_labs) has created a team dedicated to the Parallel Protocol in order to contribute to its development. To continue efforts and effectively serve the Parallel DAO, we are seeking a 6-month budget allocation. This budget will support ongoing initiatives and enable us to expand the team and resources for maximum impact.
**Note: Murphy Labs is NOT affiliated with Mimo Labs in any way.**
**Rationale:**
**Current & Future Work: (non-exhaustive)**
1. Products Development (A public roadmap would be published if the proposal is approved by the DAO)
2. Ecosystem Development
3. Governance
4. Team Expansion & Operations
**Commitment to Transparency:**
One of DeFi’s core values is open source and public construction. We are committed to building in public and having a policy of transparency towards Parallel Protocol. In addition, all work conducted by Murphy Labs on behalf of Parallel will be entirely open-source and licensed by the protocol, which will decide on the type of license to be granted for each product developed.
**Requested Budget:**
We request an amount of 180,000 USD & 300,000 MIMO for a 6-month period. Payment will be made in 6 installments, with one payment at the end of each month, i.e. 30,000 USD & 50,000 MIMO per month.
Note: Murphy Labs agrees not to sell any MIMO received for a period of 12 months after receipt.
**Means:**
- Human Resources: Multisig signers will need to sign transactions to execute the proposal
- Treasury Resources: 180,000 USD & 300,000 MIMO, at a rate of 30,000 USD worth paUSD and/or PAR & 50,000 MIMO per month.
**Technical implementation:**
On Polygon PoS, the Parallel DAO [multisig](https://app.safe.global/balances?safe=matic:0x2046c0416A558C40cb112E5ebB0Ca764c3C5c32a) will send 30,000 USD worth paUSD and/or PAR & 50,000 MIMO at the end of each month for a 6 months period, the 6-month period beginning May 1st.
**Voting Options:**
- Accept the Onboarding
- Against/Rework the proposal
- Abstain
Author(s): Murphy Labs
**Sentiment poll:**
_Poll ([view on site](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/1))_
---
### Author:  [@NL.1](https://gov.parallel.best/u/NL.1)
#### Post date: [May 8, 2024, 4:15pm UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/2 "2024-05-08T16:15:15Z")
Who will pay this amount, the company account? The protocol doesn’t have these savings?
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### Author:  [@MurphyLabs](https://gov.parallel.best/u/MurphyLabs)
#### Post date: [May 8, 2024, 5:03pm UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/3 "2024-05-08T17:03:10Z")
Hi,
the service providing would be paid by the DAO. Furthermore, the Parallel Protocol is currently generating around 1,650,000$ in net revenues per year.
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### Author:  [@arjpet](https://gov.parallel.best/u/arjpet)
#### Post date: [May 8, 2024, 7:58pm UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/4 "2024-05-08T19:58:38Z")
Interesting proposal. Can I ask some questions about it?
1. $180.000 is a big amount. How can we make sure it is well spend money? Can we define some milestones , maybe per month?
2. In proposal is spoken about 500.000 mimo. But proposal also said 6 x 50.000 mimo. That is a total of 300.000 mimo after 6 months. Which one is it?
3. Can we make an agreement about murphylabs not selling mimo in the first 12 months after receiving the mimo?
4. Does this proposal means that mimolabs will put less effort in the parallel protocol?
5. Why is mimolabs not doing the things named in this proposal?
6. How can we vote for something with retroactivity?
Thnks for the answers!
---
### Author:  [@NL.1](https://gov.parallel.best/u/NL.1)
#### Post date: [May 8, 2024, 10:53pm UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/5 "2024-05-08T22:53:27Z")
Good questions Arjpet
Not dumping MIMO tokens is a must imho.
Also, the “where is the MIMO corporation” interests me, or have the employees dumped their tokens and are they not interested?
How can the protocol generate 1,650,000$ per year, on what products is this? I cannot believe it. Is the buyback function still active?
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### Author:  [@Dossy](https://gov.parallel.best/u/Dossy)
#### Post date: [May 9, 2024, 6:06am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/6 "2024-05-09T06:06:14Z")
> [@MurphyLabs](#):
>
> **Note: Murphy Labs is NOT affiliated with Mimo Labs in any way.**
Please change this part - even the dumbest will get the connection
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### Author:  [@MurphyLabs](https://gov.parallel.best/u/MurphyLabs)
#### Post date: [May 9, 2024, 7:24am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/7 "2024-05-09T07:24:54Z")
> [@arjpet](#):
>
> - $180.000 is a big amount. How can we make sure it is well spend money? Can we define some milestones , maybe per month?
Examining Murphy Labs’ past work with projects like Strateg Protocol can provide reassurance about the quality of our work. While defining monthly milestones is challenging due to the nature of the tasks, several products will take several months to develop, and Murphy Labs has to pay employees at the end of each month. Additionally, it’s worth noting that payments are made monthly, providing a mechanism for ongoing evaluation and accountability.
> [@arjpet](#):
>
> - In proposal is spoken about 500.000 mimo. But proposal also said 6 x 50.000 mimo. That is a total of 300.000 mimo after 6 months. Which one is it?
Apologies for the confusion, it’s a typo. The correct allocation is 6 x 50,000 MIMO, totalling 300,000 MIMO over the 6-month period as stated in the proposal.
> [@arjpet](#):
>
> - Can we make an agreement about murphylabs not selling mimo in the first 12 months after receiving the mimo?
We’re committed to aligning with the long-term success of the Parallel Protocol. We have no plans to sell MIMO tokens and we agree to not sell sell any token 12 first months after receiving them. This demonstrates our dedication and commitment to supporting the protocol’s growth and development.
> [@arjpet](#):
>
> - Does this proposal means that mimolabs will put less effort in the parallel protocol?
> - Why is mimolabs not doing the things named in this proposal?
We can’t speak on behalf of Mimo Labs, which continues to develop in different ways BUT this proposal is aimed at enhancing our joint efforts, in supporting the Parallel Protocol. Collaborating and combining our strengths across various fronts will only further improve our collective impact.
> [@arjpet](#):
>
> - How can we vote for something with retroactivity?
Could you elaborate on this question?
---
### Author:  [@MurphyLabs](https://gov.parallel.best/u/MurphyLabs)
#### Post date: [May 9, 2024, 7:52am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/8 "2024-05-09T07:52:23Z")
> [@NL.1](#):
>
> How can the protocol generate 1,650,000$ per year, on what products is this? I cannot believe it. Is the buyback function still active?
There are currently 5,175,000 PAR & 111,793 paUSD minted on Ethereum & Polygon PoS. The borrow rates for theses tokens is currently set to 33.00% per year for PAR & 25.20% per year for paUSD. The protocol therefore generates 1,707,756 PAR & 28,171 paUSD in revenues per year, or around 1,860,000 USD per year.
Note: It doesn’t count revenues generated by initiation fees.
Everything is verifiable onchain. You can simply check the fees generated recently, which are redirected towards the Parallel DAO multisig. And to confirm, the buyback function is indeed inactive as per [MIP-17](https://gov.parallel.best/t/mip-17-adjust-protocol-fees-distribution-on-ethereum-polygon-pos/293)
---
### Author:  [@Squirrely](https://gov.parallel.best/u/Squirrely)
#### Post date: [May 9, 2024, 7:55am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/9 "2024-05-09T07:55:17Z")
Looking forward to see the implementation on Gyroscope going live.
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### Author:  [@MurphyLabs](https://gov.parallel.best/u/MurphyLabs)
#### Post date: [May 9, 2024, 7:55am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/10 "2024-05-09T07:55:58Z")
> [@Dossy](#):
>
> Please change this part - even the dumbest will get the connection
Murphy Labs does not own any shares of Mimo Labs, nor does Mimo Labs own any shares of Murphy Labs. Currently, Murphy Labs has a team of 11 individuals, with 4 solely dedicated to the Parallel Protocol. However, it’s important to note that Jean Brasse and Starny are not included in the 4 individuals specifically working on the Parallel Protocol as they also work part-time at Mimo Labs.
---
### Author:  [@Boka](https://gov.parallel.best/u/Boka)
#### Post date: [May 9, 2024, 8:57am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/11 "2024-05-09T08:57:55Z")
I’m very enthusiastic about the idea of onboarding a service provider to upgrade the protocol.
The increase of interest rates, & generate profits for Parallel (yes today it’s around 1.6M$!) could cover the costs of new missions to update Parallel.
I think it’s a very good thing for the protocol to evolve towards a DeFI that has been modernized since the protocol was last implemented.
180k for 6 months of work (+ the $MIMO) seems to me a fair price for a service provider who does the work that was developed in the proposal / evolves Parallel
It’s not a lot of money, it’s the right amount of money.
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### Author:  [@Dossy](https://gov.parallel.best/u/Dossy)
#### Post date: [May 9, 2024, 10:56am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/12 "2024-05-09T10:56:58Z")
Dont take me wrong - it is really needed to develop that protocol further (and if i read between the lines right this could be a sign that Mimo Labs abandon Parallel Protocol) and i think if 4 people focus on that it is a really win for the protocol … but …
- There are no milestones defined - you gain the money and dont even need to work for it
- The name of the 4 people that would work for the protocol should be known - and also some experience they have in this area? - Maybe post track records or github profiles?
- Maybe show some (sucessful) examples of your work in the past (of Murphy Labs)?
- Edit: Resolved - Is Murphy Labs a “real” company? (Okay checked linked in and found [Murphy Labs | LinkedIn](https://www.linkedin.com/company/murphy-labs))
---
### Author:  [@MurphyLabs](https://gov.parallel.best/u/MurphyLabs)
#### Post date: [May 9, 2024, 11:39am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/13 "2024-05-09T11:39:31Z")
> [@Dossy](#):
>
> There are no milestones defined - you gain the money and dont even need to work for it
The compensation would be paid per month, if the team do nothing the DAO can vote to cancel the service providing. It’s preferable to a one-time payment because it signifies an ongoing commitment and ensures sustained effort and results. Additionally, we’ve clearly outlined our intentions in the proposal, and a more detailed roadmap will be provided later once the proposal is approved.
> [@Dossy](#):
>
> The name of the 4 people that would work for the protocol should be known - and also some experience they have in this area? - Maybe post track records or github profiles?
Some team members prefer to maintain privacy and not disclose their names publicly, we respect their choice. However, we can disclose that Fabien C ([linkedin](https://www.linkedin.com/in/fabien-coutant/) - [Twitter](https://twitter.com/FabienC_dev)) will be the lead developer of the dedicated team working on Parallel.
> [@Dossy](#):
>
> Maybe show some (sucessful) examples of your work in the past (of Murphy Labs)?
Certainly! Here’s an example of our work at Murphy Labs: we’ve developed a protocol called [Strateg](https://strateg.io/#strateg), which is currently in its beta phase. You can learn more about Strateg and its features in this article: [Unleashing Strateg.](https://mirror.xyz/blog.strateg.eth/TBTRauC3lV_7bROJsDsXkNx1t4sZN9yg0BJXNG8Zv_g) This showcases our expertise in development and our commitment to delivering innovative solutions.
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### Author:  [@Dossy](https://gov.parallel.best/u/Dossy)
#### Post date: [May 9, 2024, 11:49am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/14 "2024-05-09T11:49:38Z")
Thx for the detailed answer.
Are there any other MultiSign-Members in the DAO from Murphy Labs beside Starny and Jean Brasse?
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### Author:  [@MurphyLabs](https://gov.parallel.best/u/MurphyLabs)
#### Post date: [May 9, 2024, 11:55am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/15 "2024-05-09T11:55:41Z")
Apart from Starny and Jean Brasse, no other member of the Murphy Labs team is in the DAO multisig
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### Author:  [@Dossy](https://gov.parallel.best/u/Dossy)
#### Post date: [May 9, 2024, 11:57am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/16 "2024-05-09T11:57:42Z")
Alright - looking forward to your work. Thx for your answers.
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### Author:  [@george](https://gov.parallel.best/u/george)
#### Post date: [May 9, 2024, 5:33pm UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/17 "2024-05-09T17:33:14Z")
Ok let‘s do this. I like it
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### Author:  [@arjpet](https://gov.parallel.best/u/arjpet)
#### Post date: [May 14, 2024, 10:38am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/18 "2024-05-14T10:38:36Z")
thnks for all the answers! i am good to go 😃
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### Author:  [@arjpet](https://gov.parallel.best/u/arjpet)
#### Post date: [May 14, 2024, 10:41am UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/19 "2024-05-14T10:41:46Z")
the 6-month period begins at 1st of may. That means that you are already doing work for the protocol? What if proposal is not accepted? why not start 1st of june? After a positive voted proposal?
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### Author:  [@MurphyLabs](https://gov.parallel.best/u/MurphyLabs)
#### Post date: [May 14, 2024, 3:56pm UTC](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375/20 "2024-05-14T15:56:21Z")
Finding and recruiting the right people takes many months. We didn’t feel comfortable proposing service providing to Parallel without the assurance of having a skilled team ready to work on Parallel.
Furthermore, as the team dedicated to Parallel has already joined Murphy Labs they started to work on several products in early May.
[Next page](https://gov.parallel.best/t/mip-27-l-onboard-murphy-labs-as-a-parallel-service-provider/375.md?page=2)