1 ETH2SOCKS token as DAO Incentive/reward or giveaway

Author: Tamas #2971

Summary

Accepting 1 ETH2SOCKS token as DAO incentive for new or current members.

1 ETH2SOCKS token represents one physical pair of socks that can be redeemed. Only 500 available. This edition is called The Etherean and features the milestones and historical events of Ethereum.

BACKGROUND

I’m the creator of this project and a huge Bankless fan (we were one of the biggest supporters on Gitcoin). I was thinking about ways we can help the DAO and came up with the idea to offer 1 ETH2SOCKS token that can be used in various ways:

  • Increase engagement on social media or other channels by running a giveaway or contest (winner gets 1 ETH2SOCKS token)
  • Offering this token as a reward for active DAO participation
  • Offering this token as an incentive to join the DAO

MISSION & VALUES ALIGNMENT

It aligns with the Bankless DAO mission and values to:

  • Help people discover decentralized financial technologies (raising awareness)
  • Empower the community to continually drive new initiatives (activation)

SPECIFICATION

About the Socks

This is a tokenized pair of socks that can be redeemed for a pair of socks. This edition is called, the Etherean and only 500 tokens (ETH2SOCKS) are available. The price is currently 0.31 ETH per token.

More info about the socks:

  • Comes in a custom-designed box
  • We also include limited-edition stickers in the boxes
  • Each pair of socks comes with a numbered certificate
  • 10% of the first 100 boxes will contain a super rare NFT
  • Everyone who redeems the physical socks gets an NFT and this NFT can be staked to unlock further rewards (will be available 3-4 weeks from now)

Website: The Etherean - Limited edition tokenized socks

Implementation

What’s provided by DeFi Socks?

  • 1 ETH2SOCKS as a reward
  • Promotional materials (images)

What’s needed from Bankless DAO/community managers?

  • Define the rules of the giveaway/contest/incentive
  • Copy of the messages and posts
  • Sharing on target channels

SUCCESS METRICS OR KPIS

KPIs depend on the way the token will be used. Some ideas:

Twitter Giveaway KPI:

  • The posts’ reach
  • Visitors to Bankless Substack

Activate community members KPIs:

  • Participation rates or number of submissions/proposals

NEXT STEPS

If this is supported, I reach out to one of the community managers and work on the campaign. I’m not allowed to add polls, so pls let me know what you think in the comments, thanks!

SQUAD BACKGROUND

I’m the co-creator of this project and a Bankless nation citizen.

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Moving to #archive

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