BanklessDAO partnership with Linus

Authors: @jameswmontgomery.eth

Date: 07/06/2021

Summary

Linus is a low-touch, “crypto behind the scenes”, simple financial web app to secure stable rates. Primarily, it is for non-natives looking to capture simple 4% yields without the need to scroll past walls of crypto prices or see the word “bitcoin” anywhere.

Linus has agreed to modify their Referral program to pay out referral fees to BanklessDAO via on-chain USDC.

BACKGROUND

I know the founder of Linus and he was willing to modify their referral structure to support on chain revenue. It’s a good product that serves its niche.

MISSION & VALUES ALIGNMENT

On chain revenue using media nodes!

SPECIFICATION

There are no hard requirements. We have the opportunity, like any classic referral program, to scale as we see fit.

The Linus team will create a custom dashboard and payout flow for BanklessDAO to be sent $20 USDC for every account that signs up and adds $100 to their balance. Payout will likely be once per month.

FINANCIAL IMPLICATIONS

No payment is required.

BRAND USAGE

Linus does not require our branding. We promote how we see fit.

SUCCESS METRICS OR KPIS

This program would be measured by total monthly referral payments, but would ultimately be a function of our promotion of this product & link.

NEXT STEPS

Once we decide to move forward, I will facilitate the creation of the BanklessDAO referral account and relay the multi-sig address to the Linus team for their payouts.

Once we have a link, we can promote in our newsletter and keep the opportunity stabled for use in any Media Node project.

SQUAD BACKGROUND

jameswmontgomery.eth - I have been keeping in touch with Linus CEO Matt Nemer for about 2 years. No financial stake.

9 Likes

Thank you for your proposal
I am in favor of this partnership, it seems an interesting product for the less experienced in crypto and can therefore be an excellent tool to help #gobankless

1 Like

That sounds like a good idea to me

It looks great. The payout is generous too.

This proposal looks good, I fully support the idea.

Referral fee only for the initial deposit of 100? Is there a larger referral for a larger initial deposit?

Good question; no, there is only the flat referral fee at this time.

There was talk of increasing the fee if we were willing to incentivize with BANK, but we can pursue that option later if we find this opportunity fruitful.

Seems like a nice initiative for all sides. I’m in favour

sounds good, I don’t see why not

Sounds good. Definitely something I look forward to

Sounds like a good match. Linus also sounds like a great compliment to >v2.0 Onboarding App we’re building as it’s very ‘new to ecosystem’ accessible.

I’m in favour. Sounds simple.

I am in favor of the proposal

Sound good,hope some good thing gonna happen.

Moving to archive. Please reply to reopen.