Title: Bankless Brazil Grant Proposal
Squad: joaoh.eth#5174, GU ΞLFI .eth #0099, João | Criptonita.eth#4969.
Date created: Feb 20, 2022
Date posted: April 20, 2022
- Bankless Brazil has been running on a low budget for 8+ months, and we’ve not been able to sustain ourselves with current revenue streams.
- The average contributor for Bankless DAO gets 1,000 BANK/hour for its contributions. while the average contributor for Bankless Brazil DAO gets less than 100 BANK/hour for its contributions.
- Low compensation leads to difficult talent retention and discouragement among members.
- Difficulty on talent retention and discouragement leads to a chaotic DAO with a lot of work to be done and no one will do it. Anxiety and burnouts happen often around here.
- This proposal seeks to gather funding for the next 3 months of Bankless BR DAO operations.
We are making this proposal because Bankless Brazil is one of the biggest Bankless DAO Media Nodes, with strong monthly growth, but we need funding to compensate our contributors and increase our revenue streams. We believe that with the right incentives and compensation, we could better organize our structure, get some members working full time on our DAO and enhance our growth without work overload and burnout.
Bankless Brazil is the largest media node for Bankless DAO (see all node stats). Our average monthly growth for the past few months is 25%. We have an audience of 10k+ people across all socials.
This sheet covers these numbers in more detail, and calculates that with a push to a 40% monthly growth with the help of the funding, we could reach almost 30k people, across all socials! That’s 3x what we currently have, and 8k more than our current average growth. (37% more).
Our DAO was involved in 5 NFT drops, and has 1 that will go on indefinitely, which is our NFT governance token sale. With these we generated 16k USD on gross sales. This spreadsheet covers these drops in more detail.
Furthermore, we have revenue streams from substack subscriptions, merch sales, sponsors and grants. The revenue is growing each month, but have never stacked up more than 70k BANK on a month.
We currently have 30+ active members in the DAO that come and go every month and do some amount of work. Here is a list with more detailed information about our members and their activity in the Discord.
We have 14 projects and 10 Guilds, some of which are on backlog, others on standby.
Projects stack up to 28 contributors, and Guilds up to 67. Beware that contributors often take part in 2 or more guilds and/or projects. This spreadsheet covers things in more detail.
Taking by reference the members’ involvement sheet, and stipulating an hourly commitment for each of these involvement tiers:
- Very active member puts in 30h/week
- Active member puts in 20h/week
- Active (less) member puts in 10h/week
This table shows how many active users we currently have:
Calculations would lead to 2,600 hours being spent in Bankless BR each month, or 7,800 on the season (if we ignore the DAO’s growth). We could pick a 1,000 BANK/hour rate, but this would be too deep of a bleed for the Treasury. We came up a 500 BANK/hour rate, which leads to a total ask of 3,900,000 BANK to cover operational costs.
Seeing that the DAO will probably grow in the next 3 months, we would like to ask for an additional 600,000 BANK for the season, to support new initiatives and members as they will likely come along. All the BANK not used during this season will stay in the treasury for the next season.
We are using the platform Dework to organize work to be done in every guild and project inside our DAO. This means that every penny that Bankless Brazil gets, it will be directly used to support a project or initiative that we have, in the most efficient way possible. Whether it be growing our audience to get funding from sponsors, and showing the bankless mission to more people, organizing IRL events, or do consulting to Web2 and Web3 projects. See list of projects and guilds.
This is a bold ask, but Bankless Brazil is a unique DAO, with great people and nobel ambitions. Our goal is to onboard 50 million Portuguese-speaking people in the next 20 years.
We will push extra hard to achieve ambitious goals this season, and hope to sustain this growth on the following seasons. The end goal is to be self-sustainable in the next 18 months.
- Usage of BANK in the internal Bankless BR economy.
- Every revenue that we get from sponsors, grants, NFT sales, merch sales, and everything in between, we will buy back at least 70% of it on BANK, 20% WETH and 10% USDC for minimum treasury diversification reasons.
- All grants requests inside Bankless BR DAO will be handed in BANK.
- We will send 5% of all revenue directly into BDAO’s treasury.
- Increase participation from 27 to 43 people on projects – 60% increase
- Increase participation from 63 to 100 people on guilds – 60% increase
- Increase the average monthly growth from 25% to 40% – 60% monthly increase
- Get 30k USD in revenue from sponsors and grants
- Get to 100k YouTube views (currently 7k) – 14,000% increase
- Will be possible with short video and podcast cuts production
- Make at least 1 immersion a month on a hot topic on web3 for members
- Have 100 Governance NFT holders (currently 63) – 60% increase
- Promote the BED Index and GMI Index twice a week on newsletters, podcast and social media.
Total ask: 4,500,000 BANK
- Proposal is good enough
- Lower the BANK rate to 350 BANK/hour
- Increase BANK rate to 650 BANK / hour
- Needs revision