Web3 Entrepreneurs and Practitioners Must Read: Kraken Ten Commandments
Original Author: Kraken
Original compilation: Amber, Foresight News
If "culture" is how a group of people live, then "corporate culture" is how a group of people work. Corporate culture is a shared set of values, goals, attitudes and norms—whether written or unwritten—that is shared by a team. We believe that every company should be as different and unique as every person. Just as two specific people may not be able to get along anyway, a person and a company may not be compatible with each other because of "cultural differences".
After reading this description of Kraken's company culture, we hope you have an idea of whether you enjoy working here. We understand that while for some people who share our mission we will always be a great place to work, for others we may not be the best company to work with. If it wasn't meant to be, that's okay too. We hope you are happy! With that said, we hope you do want to be a Krakenite (i.e. a member of the Kraken team)!
Before Kraken, from 2001 to 2011, Kraken's founding couple ran a video game virtual goods marketplace called Lewt, which was plagued by payment issues. Digital currency is clearly the future, when they discovered Bitcoin in 2011, they went all out, sold Lewt, started Kraken, out of trust in Bitcoin, believing that if they could drive Bitcoin adoption, This will improve the lives of billions of people.
Starting a cryptocurrency exchange is a daunting task, fraught with dangers, technical and legal complexities, but the couple sees it as a challenge worth pursuing. Investors funded the company for the first three years with their own money before they took the industry seriously. It takes an ideological drive, a greater sense of purpose, to walk away from a successful business and take unfathomably uncertain risks while the “experts” call you nuts.
11 years later, our founders are still on the front lines. Their values—cryptocurrency, cyberpunk, libertarian values—are at the heart of what continues to make this company the most attractive home for the top talent in the industry.
Kraken's "Ten Commandments"
I. Crypto is for everyone
When Satoshi Nakamoto released the Bitcoin white paper at the end of 2008, he first proposed a borderless, global digital currency system. The network of Bitcoin nodes is "leaderless", but the integrity of the currency and cryptography is maintained through a process of distributed consensus.
PoW has revolutionized the concept of money. No longer will a small group of bureaucrats or politicians determine how much money is in circulation, nor who gets special privileges—or penalties—in the monetary system.
Bitcoin removes politics from money. This means that anyone is free to transact on the Bitcoin network as long as they can cryptographically prove control of their keys. Anyone can participate in Bitcoin mining, as long as they follow the rules of the system and put effort into it.
There are no shortcuts. No one can change the rules of the system without an overwhelming consensus of all participants, not just a democratic majority. No one can rewrite history. No one can print money out of thin air and give it to their friends. The culture of Bitcoin — and the aspirations of the broader cryptocurrency ecosystem it spawned — is one of extreme ownership, responsibility, and work.
Beyond Bitcoin, other applications of blockchain technology are fueling a burst of decentralized finance experiments that are already solving real problems. DeFi yield farming provides a self-serving, permissionless opportunity for those without traditional banking services to earn returns on their savings. NFTs are replacing traditional certificates of title, proof of identity, concert tickets and enabling new forms of digital art. The Web3 movement will ultimately replace much of the centralized internet with a freer, fairer, censorship-resistant alternative.
We welcome all to join this revolution. What's more, no one can be excluded.
II. Must have a sense of mission and belief
Mission establishes a company's core identity. The mission can bring the team together and provide a reference for quick decentralized decision-making.
At Kraken, our mission is to accelerate the global adoption of cryptocurrencies because we believe it will improve the lives of billions of people and enable a new era of human prosperity.
We will accomplish this by building a bridge from the old world to the new, meeting people where they are and in a way that feels natural, safe, fun and better than anything they've ever known , leading them gently across. We will pull, not push, by continuing to simplify, increase accessibility, and expand the use cases for cryptocurrency for ordinary people. Providing an unparalleled user experience and customer service is at the core of our mission.
Cryptocurrency is to money what the Internet is to information - it is free, democratizing, and egalitarian. Billions of people are hurt and suffering today as a direct result of a highly exclusive and discriminatory financial system that leaves minorities and the poor overwhelmingly vulnerable. We have a responsibility to make sure we bring these people with us so they don't get left out.
For more than a decade, the company has managed to attract and retain many of the world's most talented cryptocurrency experts through its commitment to its "mission" and its ethos. While we focus on things like customer growth, shareholder returns and enjoying our time at work, our unwavering North Star and ultimate goal has always been mission achievement. It underpins who we are, what we think, what we build, and all the key decisions we make.
Does everyone on Kraken need to believe in a "mission"? We believe so. Why? We are fighting an extremely difficult and protracted battle, with great uncertainty and danger. For true believers, rewards make the pain worth it. For those of lesser conviction, this journey may be too difficult.
III. Keep up with the cryptocurrency industry or fall behind
You don't need to be an expert, but you can't be a novice for long either. Cryptocurrencies are moving at the speed of light, and companies must always be prepared to adjust to many external factors beyond their control. It is imperative to take the time to learn the basics and stay abreast of the latest developments that may affect our clients and the work we do. We want everyone on Kraken to dedicate a few hours a week to learning. Some roles may require more.
Luckily, the company has tons of learning resources available, knowledge that will get you invited to all the best parties. Here are some ideas on how to spend your time.
Kraken chat rooms, incl. #crypto-memes, #defi, #industry, #nft, #pricetalk, #yield-hunters
Kraken Daily Market Health Report
Kraken Intelligence Daily Newsletter
Kraken Intelligence Research Report
Kraken Crypto Learning and Development Courses
The cryptocurrency movement is a rebellion - a fight for the people's money. Our right to choose our currency, and the fate of billions of people who are excluded from the financial system, depend on our victory. Reconnaissance and intelligence gathering is a key part of our strategy. Decentralized decision-making requires all of us to be informed.
IV. Know Yourself, Know Your Enemy
Kraken people are expected to use our products, but also to use competitors' products more, and to solicit user input in the process of developing products.
Every customer-facing product should be familiar to everyone at Kraken. No one at Kraken should back down if asked to describe or demonstrate any product our customers use.
Understanding our competitors' products helps us understand our relative position. It also helps us understand the expectations of some of the customers we hope to convert. Are we differentiated? Are we better or worse? Why? Where should our time be spent? How can we gain an advantage?
Users say they point out the worst problems, and so does data, which is why we're always listening, looking for new insights, and what people really want, and use our products in ways we never imagined. Bringing cryptocurrency to the masses means making it simple, friendly and human.
We shouldn’t forget that the greatest enemy is the existing system, those who struggle to maintain power in the status quo, and people’s familiar attachment to it, no matter how much they’ve been lied to.
We should still think beyond "faster horses" or "better banks" and show people what they need but never thought possible—possibilities they never thought possible.
V. Professional but "comfortable"
Professionals "still sit on the sidelines, waiting for parental approval." For the past decade, pirates have been sailing the uncertain high seas, sending humans to promised lands. Are Kraken people "acting professionally"? Depending on who you ask, if you come from a traditional environment, you might find us casual and transparent by comparison.
Kraken people are focused on results, which is why we value skills and knowledge over credentials and performance. It’s also why we work remotely in our pajamas rather than in the office in a suit. We may seem like a bunch of loners, but we're tight-knit and get a lot done. Of course, we keep some business attire in the trunk for special occasions.
We consider ourselves "professional pirates", which means we have:
Thoroughly transparent and authentic
Casual and approachable (vs. formal and defensive)
Clear, concise, direct communicator
Highly adaptable and flexible team member with a strong work ethic
kind hearted, but also very candid
skeptical of too much centralization of power
Be creative and unconventional in the way you approach a problem
Adventurous, with the ability to trust yourself to navigate tricky situations that scare the "professionals"
Not afraid to disagree, ask questions calmly, or confront issues in a small or large group
If you value decorum above transparency and authenticity, you may not feel comfortable here.
VI. The Quest for Life, Liberty, and Sound Money
The crypto movement is rooted in "dangerous" ideas, such as the fundamental rights that all humans have:
Encryption Technology
free speech
free market
currency selection
open source software
Personal and Financial Privacy
Some might characterize these beliefs as humanitarian, egalitarian, liberal, or classically liberal. People who hold the above beliefs often believe that none of these rights would be possible without:
free
self defense
due process
personal property
limited government
individual bodily autonomy
This is not surprising to Americans, since these rights can all be derived from the US Constitution. While government violations of these rights have become tolerated (and even demanded), we think we should covet the rights we have because once taken away they can never come back. Our ability to drive cryptocurrency adoption around the world depends on these rights.
Not everyone needs to personally hold these beliefs to join Kraken, but they are a core part of our culture. You'll be exposed to them on a regular basis and expect to instill them in your decision-making at work.
Here are some examples of how these beliefs may affect the way you work and experience:
We will fight back against government excesses
We will spare no effort to protect the personal and financial privacy of our customers
We may develop or sponsor open source software that empowers citizens to resist corruption
We will seek to limit intervention in the market and restrictions on who can participate in the market
We will engage in disputes with government agencies because outdated laws are unfairly exclusive
We will engage in lobbying as a single-issue donor supporting controversial politicians and legislation to advance missions that may harm other civil rights causes
We will provide advertising and sponsorship for controversial TV shows, podcasts, influencers and events if it furthers the mission
We can incorporate firearms and self-defense training into corporate events
We will allow discussion and shooting of guns in public (but optional) chat rooms
We will not discriminate against Kraken people based on the choices they make exercising their bodily autonomy
VII. At some point, you will be offended
If no one is offended, we either don't have enough diversity of thought or enough transparency in communication. We're breaking new ground, venturing into uncharted territory, and doing things that have never been done before. If it feels easy or comfortable all the time, you're probably doing it wrong. While offending people is not our goal, we recognize that it is inevitable in a global organization that optimizes team outcomes over individual feelings.
While we don't welcome smart jerks, Kraken moves fast and we all understand that there's no time to gloss over every interaction, especially as many are text-based and lack a clear tone. The ideal Kraken is thick-skinned and kind-hearted.
We acknowledge that when individuals come together, they form a beautiful melting pot — made up of very different social norms, worldviews, perspectives, preferences, expectations, and senses of humor. In our global and diverse company, these differences are magnified. Our team members come from more than 70 countries and speak more than 50 languages, representing a wide range of demographics. Therefore, it is inevitable that there will be a variety of personal standards and principles in our company. We accept and celebrate the reality of this diversity.
Diversity cannot exist without 1) diversity of thought and 2) tolerance for different thoughts.
We believe that expecting or encouraging Krakens to strive to never offend their teammates and/or be forced to conform to social or cultural norms of their most vocal colleagues significantly reduces our ability to build and celebrate diversity and inclusion . We also believe that the quality of overall Krakenite well-being, company culture, transparency and productivity will suffer.
Sometimes as humans, despite our best efforts, we say the wrong thing or do the wrong thing. What matters is that we try not to offend each other, and we always try to be nice to each other. We seek to understand each other and our goal is to maximize effective interactions.
The basic principles of our communication are as follows:
We communicate mostly in English, sometimes unsuccessfully due to language barriers and varying levels of proficiency in over 70 countries
Krakens are welcome to demand (or deny) each other's personal language and communication preferences, but there are no right, wrong, or formal rules to impose obligations or subordinate one preference to another
Text-based communication is suboptimal in many ways. We do not benefit from tone of voice, facial expression, demeanor, and other indicators of the environment. We strongly encourage heavy use of emoji
We give each other the benefit of the doubt
Everyone is responsible for their own feelings
Just because you're offended doesn't necessarily mean you're right
Being offended doesn't necessarily make you "hurt"
Neither words nor silence are "violence"
We say why we disagree and calmly challenge opinions with logic, reasons and better ideas
We don't say other people's words are toxic, hateful, racist, X-phobic, unhelpful, etc.
We don't ask for respect, but we encourage it
Before assuming malice, we assume ignorance
We always try to moderate discussions that become emotional
We try to resolve personal disputes 1:1, preferably via video call or chat.
NOTE: We comply with all labor laws and do not support illegal activity in the workplace.
VIII. Our mission is unique
We don't have a second mission, which means that when we encounter some problems, the only basis for judgment is whether if we do this thing, it will help achieve our ultimate mission. for example:
Should we be paragons when it comes to stereotypical measures of team diversity? No.
Should we be exemplary in execution, product and service quality? Yes.
Should we donate to "current affairs"? No.
Should we donate our money to cryptocurrency research? Yes.
Should we make seasonal flu vaccination mandatory? No.
Should we empower good personal OpSec? Yes.
We believe this weaponization of the financial system is unethical. The financial services sector is often forced to deprive people and organizations of unpopular views. In our day and age, being without financial services is like being without electricity. Our goal is to maximize representation and inclusion without supporting illegal activities. We will not proactively remove the status of controversial but law-abiding individuals or businesses. Of course, if the law changes, we will comply.
We do not allow room for cliques, infighting, or the pursuit of agendas that are not formally set by the company. We cannot allow ourselves to be distracted by petty disputes over first world problems while the rest of the world suffers from real humanitarian crises that we can help resolve. Not only that, but we are competing with other businesses for the same customers. This is not a lifestyle business. It's a grow and win or die business. This is...Kraken!
IX. A global perspective drives true inclusion
Everyone is different, but in general, after you join a company, you are likely to assimilate🤖. We value the unique perspective that each individual brings, no matter where they come from or what their background is.
Our recruitment is strictly merit-based, which means we look for candidates with the abilities, knowledge and skills considered best suited for the job. We then assess alignment with our culture and mission. With over 70 nationalities and over 50 languages in the company, we place great emphasis on team cohesion. Merit-based admissions, rather than qualifications or vision, mean those who don't "fit the bill" have a better chance. During the recruitment phase, we cast our net as wide as possible to treat all candidates as unique individuals.
We reject the myopic view that "diversity" can be represented by a short list of distinct physical traits. Silicon Valley's view of the world's diversity is dangerously limiting, commodifying the individual, and a disturbing reflection of profound ignorance. From a global perspective, the diversity is limitless. We emphasize equality of opportunity, regardless of background.
To remain cohesive in such a diverse environment, we must acknowledge our own ethnocentric tendencies, grant grace, and embrace humility. Many Kraken people have benefited from and struggle with Autism Spectrum Disorder (ASD). For others, English is a second, third, fourth, fifth language. Misunderstandings will happen and mistakes will be made. Fortunately, this is not a culture of honor, nor is it a culture of victimization. Kraken insists on a culture of dignity.
We're building products and services to benefit all of humanity, and we see our range of diverse perspectives as one of our greatest competitive advantages. No differences should be allowed to divert us from our mission.
While we don't get overly focused on our differences, we encourage each of us to be our unique selves. Some members of the team even choose to use pseudonyms instead of their real names, which is a good testament to the open platform.
We discourage requesting and providing personal and demographic information, as this may become a burden to others, or give the impression that we care more about who a person is than their ability to raise the bar for the team. We pay special attention to this during the recruiting and onboarding phase, before someone really knows and trusts us.
NOTE: We are committed to eliminating all forms of discrimination against legally protected groups in every jurisdiction in which we operate.
X. The Key to Being a Kraken: Chivalry
Krakens who thrive on work and work relationships tend to share similar personality traits and display similar behaviors. See the list below for what we encourage and reward, and what we discourage and avoid.
Kraken feels like a startup in many ways. Big company experience is great if you have the right attitude. If you're joining us from a late-stage juggernaut, it's really important that you have a deep-rooted belief that you don't have all the answers. Of course, neither do we ourselves, and instead we hope you will work with us to find out. It's always painful and never works when someone new to Kraken tries to build a process or solution without working closely with and listening to experienced Kraken folks.
Bureaucracy must die! We are determined to avoid the vicious death cycle of bullshit and bureaucracy as companies get bigger (i.e. more people and meetings means more support is needed, which results in more rewards for persuasion, instead of building, causing the builder to leave and then doing nothing). Therefore, we try to keep teams small, specify DRIs, disagree and commit (i.e., support and implement decisions as if they were your own), and avoid committees or consensus-seeking.
Kraken despises office politics (i.e. activities related to the use of influence tactics to further one's personal interests). If you have worked in a large corporate environment in the past (even years ago), you might want to reflect on what behaviors, tendencies or habits you were exposed to (or learned by accident) and point out here not to do them .
What works:
Driven by purpose, rewards, capabilities, etc.
modesty
team minded person
Thoroughly transparent and informative communicator
positive and firm attitude
speak simply and truthfully
Be curious and encourage the curiosity of others
Eager and appreciate critical feedback
Proactively draw attention to their mistakes or oversights and take extreme initiative
Proactively point out possible weaknesses in their work (in order to make the work stronger), especially when presenting the work to the group
nice to everyone
Treat every Kraken the same regardless of role, tenure, or perceived level of power
Have the courage to take risks, and will not be afraid to do things that are beneficial to the company because of risks
Breakthrough thinking. Desire for creativity and innovation, understanding that leaps of faith are necessary, and understanding that not all value can be quantified
First principles thinker. Seek to understand the root of problems and find new solutions.
Pay attention to speed
Decompose workplace politics, do not participate in workplace politics
Strong familiarity with computers, modern technology, the Internet and automation tools
What doesn't work:
driven by ego or the pursuit of power
Arrogant, pompous, or acting superior to others
self-centered, reckless, lazy
self-pity or an unconstructive attitude
lie or tell you what you want to hear
Questions without curiosity and/or punishment
Speaks with a lot of company buzzwords, jargon, or rhetoric (this may indicate that he is trying to appear impressive or conceal a lack of knowledge)
Responding defensively to critical feedback
Cover up, deny, confuse or "distort" (distort facts to make them more convincing) any error or omission
Conceal possible weaknesses in your own work (so that it is not easy for others to see areas for improvement), especially when presenting work to groups
Only nice (or especially nice) to those they can reap the benefits
Treat or talk to Kraken people differently based on their role, hierarchical status, or perceived level of authority or power
Take no risk or take low risk on most or all things, no matter what is good for the business. This might be done to "play it low" and "play it safe" or to maximize job security (although the outcome would be the opposite)
epilogue
epilogue
Thank you very much for taking the time to read The Ten Commandments, your reading habit will benefit you in your future work and will also benefit your growth in the crypto industry.
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