Title: Bridge Funding for Bankless Consulting Back Office Contributors
We are requesting 1,180,000 BANK so that BanklessDAO members who are contributing to the Bankless Consulting back office can earn closer to the bDAO-standard 1,000 BANK/hr rate for their work. Dozens of BanklessDAO members are contributing to marketing, talent coordination, operations, and other projects that are required to start up the world’s first web3-native consultancy.
But these valuable contributors aren’t getting paid because (1) Bankless Consulting did not request a budget for Season 3 and (2) Bankless Consulting is not yet generating enough revenue to pay the back office contributors.
We believe that the BanklessDAO members who are working to build the infrastructure for Bankless Consulting should be paid equitably to contributors in the other BanklessDAO guilds. There are over 3 dozen extremely talented individuals that we want to retain in BanklessDAO, and so we need to reward them for their contributions.
As the Bankless Consulting Back Office team works to get the first web3-native consultancy off the ground, we have several roles, projects, and tasks that BanklessDAO members are excited to take on. But Bankless Consulting doesn’t have the financial resources yet to pay people what they deserve to be paid. The result is that contributors to our Operations, Go To Market, Innovation, Legal, and Finance offices are earning far, far less than the 1000 BANK/hr rate that has been standardized across the DAO.
For our January Coordinape round, we had 26,000 BANK to allocate to 17 Back Office contributors who had collectively contributed over 200 hours to our five offices that month. That’s an average of less than 130 BANK/hour. Across BanklessDAO, contributors are earning 1000 BANK/hour. Bankless Consulting contributors also need to be paid for their contributions.
In recognition that our contributors are coming from all corners of the BanklessDAO, we are requesting an allocation from the Grants Committee to compensate our Back Office contributors. The 7 elected Representatives to the Bankless Consulting Governance Board - RunTheJewelz, Omen, DSide, Puncar, MC10, RA, and Chuck - will not receive any of this allocation. The seven of us reached L1 status during Season 2 based on our contributions to Bankless Consulting that season, and we now want to spread the wealth to others who are working to grow this business.
This 1,180,000 BANK allocation will provide Bankless Consulting with bridge funding while we work to bring in enough clients to pay these back office contributors.
The benefits of this allocation to the BanklessDAO community will include:
- More BanklessDAO members getting paid in BANK and staying in the DAO
- More BanklessDAO members earning L1 status (a huge majority of Bankless Consulting contributors are Guest Pass holders)
- More BanklessDAO members gaining exciting web3 business experience in marketing, operations, finance. Many professionals come into BanklessDAO looking to gain work experience, and Bankless Consulting has great opportunities for them
- Less attrition from people who can’t find paid work in the DAO and leave us for other web3 opportunities
- More capacity for Bankless Consulting to get its flywheel going so that it becomes a profitable and sustainable business, advancing the BanklessDAO’s mission
Bankless Consulting helps the DAO achieve its mission of being the on-ramp of choice for talented people from all professions, walks of life, and corners of the globe to begin working in web3. Since the start of Season 3, over 100 BanklessDAO members (majority Guest Pass holders) have joined Bankless Consulting meetings and expressed interest in lending their talents to one of the back office functions of this business.
Bankless Consulting is attracting people who want to work and who have skills that we need. We just don’t have any money yet to pay them.
One of BanklessDAO’s values is paying people for their contributions. We don’t expect newcomers to perform unpaid internships before landing a role. And yet, this is the case right now in Bankless Consulting.
Another of BanklessDAO’s values is to enable Guest Pass holders to earn enough BANK to become L1 members. With 1,180,000 BANK for Bankless Consulting back office contributions, we can help a large cohort of Guest Pass holders meet the 35,000 BANK threshold for L1 status in Seasons 3 and 4.
Finally, Bankless Consulting is embodying the BanklessDAO’s value of generating revenue and becoming self-sustainable. We are the world’s first web3-native consultancy, and we’ve signed multiple paying clients in our first month of operations. This Grants Committee allocation for the people who are building Bankless Consulting will help the business build better marketing, operations, financial management, and strategy.
We are requesting 1,180,000 BANK for Bankless Consulting back office roles, projects, and tasks. All of this funding will be used to pay BanklessDAO contributors who are building the Bankless Consulting infrastructure. None of it will be used to compensate the Bankless Consulting Governance Board members.
This funding will enable Bankless Consulting’s five, elected Office Coordinators to name contributors to roles and post bounties for projects and tasks.
Here is a breakdown of the work and human resources required in Season 3:
|Role||Very brief description||Est. people||Total hours||Total BANK|
|Social Media Manager||Weekly salary for someone to tweet 1-2 threads a week, grow the account, connect with the right people and promote events||1||48||48000|
|Pipeline Manager||Salary for someone to help us close deals, develop processes, and avoid delays.||1||60||60000|
|Collateral Creator||Coordinape for people who are creating collateral for pitching work to prospective clients.||4||240||240000|
|Case Study||Bounty for someone to interview BC team and potentially clients and write a case study||1||12||12000|
|Product Development||Coordinape for the people who are developing the products and services we are trying to sell||20+||420||420000|
|Tokenomics Research||Bounty for someone to write a research paper on tokenomics to turn into consulting offering||1-2||40||40000|
|Talent Coordination Lead||Salaries for people to onboard, evaluate, and allocate talent for offices and projects||2-4||240||240000|
|Tooling Lead||Salaries for managing existing tools + evaluating and implementing new tools for managing the business||2||120||120000|
True to the nature of startups, we underestimated how much work it would take to build the infrastructure for this business and were overly optimistic about how quickly we could sign clients and receive payments from them.
We are asking for a grant of 1,180,000 so that we can support the many BanklessDAO members’ contributions to the building of this sustainable, revenue-generating business. We believe that this will give us a runway through the end of Season 4.
Between now and then, this funding will help dozens of new BanklessDAO contributors reach L1 status. It will increase the number of people holding BANK and bring more utility to the token, putting upward pressure on its price.
We aim to support at least 30 BanklessDAO Guest Pass holders to reach L1 status through this initiative while providing them the opportunity to gain valuable web3 business experience.
The five elected Office Coordinators will use this allocation to fund salaries, bounties, and Coordinape epochs for work being done in Season 3.
There are people already performing many of the roles outlined above. For the roles that have not yet been initiated, they will first be posted, and then we will evaluate who is the best candidate among those who express interest.
- Chuck25#4313 is the Finance Office Coordinator for Bankless Consulting. Prior to falling down the web3 rabbit role, his career was in public education and nonprofit management.
- RunTheJewelz#7931 is an at-large Representative serving on the Governance Board of Bankless Consulting. He is also PM of the DAO Dash project, and involved in the Analytics Guild. RTJ has 20 years of experience in Big 4 and Boutique technology strategy consulting.
- RA#1839 is the Go To Market Office Coordinator for Bankless Consulting. He also runs a design and branding agency, and has spent 20 years in marketing.
- DSide#0019 is the Operations Office Coordinator for Bankless Consulting. In addition to overseeing internal governance, talent coordination, and tooling projects, he is currently sponsoring 2 NFT-based client projects at BC and is the Podcast Hatchery Project Manager.
- MC10#8599 is the Innovation Office coordinator for Bankless Consulting. Has been a Management and Technology consultant for almost 20 years. Has experience in forming and managing teams of consultants, starting and scaling businesses globally, running business development and P&Ls.