Project Champion: senad.eth Authors & Editors: senad.eth Date Created: Aug 20th, 2022 Date Posted: Sept 5th, 2022
SUMMARY
Bankless Research requests funds from the BanklessDAO treasury for Season 5 to keep project operations and workstreams running. We will use the funds to compensate directors for their work, bounty for tasks and conduct a coordinape round at the end of Season 5 with active Bankless Research members. The project team is fully aligned with the Bankless DAO mission of onboarding 1 billion people into crypto and aims to achieve that by creating the highest quality research content in the Web3 space. Ultimately, we want to position ourselves as thought leaders in the ecosystem and represent the Bankless brand in the best way possible.
SPECIFICATION
We introduced the project (team) and our operational framework here. A more detailed breakdown of the project and what we agreed to work on for S5 can be found here.
FINANCIAL IMPLICATIONS
The directors are expected to work 23 hours per week in total for the project. The amount of hours spent will likely vary for each director from season to season as we learn what works best and adjustments are made. The directors have to be transparent about their efforts.
Bankless Research coordinape will be scheduled at the end season 5, and is independent from director compensation. Directors are eligible to participate in coordinape rounds.
BRAND USAGE
Branding ourselves as Bankless Research will strengthen both the Bankless and Research Guild brand. The name of Bankless carries weight in the Web3 industry and we take this as a serious responsibility to engage in high quality, unbiased and ethical research while representing Bankless DAO.
S5 KPIs & SUCCESS METRICS
Metrics to measure the success of Bankless Research include, but not limited to, are:
This is a great write up and really appreciated all the supplemental material it linked out to. I saw a lot of reference to Project Managers and there definitely seems to have some great cross-guild collaboration potential. The Working Agreement also lays out the role of Project Manager.
Where does the funding for a PM come from was my outstanding question.
As we scale up the services we offer, we plan to recruit PMs from PM guild when applying for grants to manage “small time frame projects” (duration of 6-8 weeks). 10% of the total grant are allocated to PMs of those small time frame projects. Funds are distributed by the Bankless Research Treasury after the final delivery of the report.
Therefore, we fund PMs through grants we manage to secure. Enclosed our grants revenue model:
It would be nice to see some type of Target in Grant funding that would be needed to replace the BANK funding for operations. For example let’s say 10% of each grant went towards operations and administration then we would need about 24,000$ USD in grants to achieve self sufficiency. Likewise one could say that at 24,000$ USD in funding for DAO Guilds and projects that our Expense for Operations would be fully justified and be producing a net positive for the DAO
Obviously we could find a grant that covers future operational expenses but having a way to estimate the value provided for the dao helps us measure and plan for self sufficiency.
Administrative tasks are mostly done by me and the board of directors, who are in charge & responsible for keeping the project up & running and making sure we grow as an enterprise. The board members will likely have to be compensated by a share of the grants revenue in order to self-sustain by keeping operations running and not requiring funds from bDAO anymore.
That being said, the focus as of now is to compensate contributors (grant seekers, project managers, researchers, consultants, writers & editors) for developing BR research reports with as much of the grant as possible (80% for the grant), so we can continue “hunting” for grants (the experience will help to further improve our system and build relationship with clients in the fastest way possible). One of our priorities remains to always make sure that the grants team receives the highest revenue share possible, as they are the ones developing the reports. Realistically, the efforts made by directors in form of administrative would have to be compensated with 10-20% of a grants. However, we continue to improve our process, build a solid foundation with bDAO contributors we can count on and develop strong relationship with partners in the ecosystem.
