Update on 30th June 2022: Thank you everyone for your support and votes. The grant was approved by the Grants Committee on 28 June 2022 . Voting is no longer required on this proposal. Comments, questions and feedback are always welcome and helpful
DAO Contributor Sentiment Tracker Proposal - Season 4 Funding
AUTHORS: Ashish G#1970, sandeepdas#2062
• Ashish G#1920 (Project champion)
• sandeepdas #2062
• Leah_par #5932
DATE CREATED: 9 June 2022
DATE POSTED: 9 June 2022
The “DAO Contributors Sentiment Tracker” aims to be the first, data-driven measurement and evaluation survey about behaviors, attitudes and sentiments of DAO contributors. We believe that while there are several of data points and rankings on the fastest growing, most active DAOs etc., there is a lack of understanding around the motivators of contributing to DAOs and the sentiments after contributing to them. This is currently a vacant space, and an opportunity for Bankless DAO to take ownership and showcase itself as a thought leader. The intention is to make the tracker and the insights coming out of it a benchmark and go-to reference for DAO builders, community managers, onboarding specialists and governance teams. It will also act as a useful source for anyone who wants to get a pulse check about DAO participation and engagement sentiments.
The working group has been at it for a month now. The questionnaire has been finalized and can be accessed here https://forms.gle/JeBFBa7i1V3256o58 .
The insights from the survey, when effectively communicated and disseminated within the wider DAO ecosystem, will strengthen Bankless DAO’s reputation in the space. Depending on the reaction and interest we receive from the results, there is an intent to repeat the survey at periodic intervals to establish a continuous read of DAO contributor sentiments over time
In traditional industries, there are examples of strategic trackers conducted by specific brands becoming gold standards of benchmarking. Some of these examples include The American Express Global Travel Trends Report, Interbrand / Brand Z / Brand Finance rankings of brands on brand valuations, the EBRD’s Business Environment & Enterprise Performance Survey (BEEPS) and S&P NetAdvantage Industry Surveys.
We believe DAOs are only as strong as the contributor community they attract. While there is data available on DAOs (memberships, voting, etc.) there isn’t a piece that tries to understand things such as contributors’ attitudes, motivators, challenges, etc. The proposed tracker aims to fill this gap.
MISSION & VALUES ALIGNMENT:
We believe this tracker will reinforce Bankless’ reputation as a thought leader.
The tracker will also contribute the Bankless vision of helping build a decentralized world.
SCOPE OF WORK:
The questionnaire will be administered through an online survey methodology and will be open to contributors across all DAOs in the Web 3 space.
The survey will cover the following areas of exploration of the respondents:
Profile: DAO experience, time invested
Sentiment: Satisfaction of working for DAOs, belief in value of their contributions, availability of assignments
Attitude: Motivation of working for DAOs, preferred mode of engagement
Specific areas of explorations: satisfaction with compensation, what they like about working for DAOs, challenges faced
Forward looking intention: Plan to increase or decrease commitment in next 3 months
The data captured through the survey will be analyzed to address the above specified objectives, and the findings will be shared in the form of a PowerPoint deck.
The project will be split in 3 phases. These are listed below
Development of the questionnaire: The working group was formed in April and has finalized the questionnaire. A first draft was checked through 14 respondents. The final version has been administered to 37 respondents already and is working well.
Marketing of the questionnaire, to get responses: The plan is that bDAO members will be incentivized with Bank tokens, to get responses to the questionnaire. Each interested contributor will be given a personalized link, which will help track the number of responses generated. The reward pool will be distributed as per the formula “responses generated by the specific contributor x total reward pool / total number of responses received”
This phase is expected to take up to 4 weeks.
- Analysis: The analysis will include
a. Analysis of aggregate answers, to get insights
b. To attempt different cuts of the data, if a sufficiently large number of responses are received
The output will be shared as a ppt and writeup. The analysis phase is expected to take about 4 weeks.
It is expected that the tracker will be repeated in 6 months. It is also expected that some modifications will be done the questionnaire basis the output from this round.
The project’s notion page and project charter can be found here
This proposal covers only the 1st sentiment tracker survey, which is being rolled out currently. For each future wave we plan to apply for a specific grant at the time of rolling them out.
We are requesting for 100,000 Bank. The proposed budget is mapped to the 3 project stages listed above, under the ‘specifications’ section.
Creation of questionnaire: 30,000 Bank. This will be awarded retrospectively
Getting responses: 30,000 Bank. This will be a pool reward, open to bDAO community
Analysis of responses and creation of a questionnaire: 40,000 Bank
The project’s funds will be handled by a multi sig wallet, with 3/5 approval requirement. The members of the multi sig wallet will be
The Bankless name and logo could be used on 3 properties
In the questionnaire
In the final report
In an email template (with the survey link), which which we may explore to share the survey within private networks
SUCCESS METRICS OR KPIS:
Robust level of survey completes (with or without grants) to allow for in-depth analysis. In traditional research, generally over 30 respondents is deemed acceptable. We believe atleast 100 unique responses will allow us to do an analysis and generate insights
The immediate focus will be on pushing out the questionnaire, to get a large number of responses
Create a reward pool for bDAO community to market the survey questionnaire and get responses
Communicate and raise visibility about the survey in all bDAO guilds
Request bDAO members with strong web3 relationships to share the survey within their private / public networks
“We can only improve what we measure”
We believe that in order to strengthen DAOs, there needs to be an ongoing on-ground assessment of things that are working and those that need to be improved. It is incumbent upon us, the early DAO enthusiasts, to invest the time required to build DAOs as a mainstream model.
The working group has a diverse mix of experience, what brings us together is the shared passion for DAOs
Ashish: Ashish has worked at the intersection of customers and innovation. He has launched and repositioned several leading brands. He has worked extensively in the startup space and also been part of setting up an early-stage VC fund. He is passionate about the promise of Web3.0 and DAOs.
Sandeep: Sandeep comes from an extensive market research background, which has been the foundational underpinning for his brand and growth strategy career. He has worked extensively in the web2 consulting space, both with clients and with agencies. He strongly believes in the power of data in driving transformative change and in bringing out valuable insights
Infinitehomie.eth#4930: Banker by day, organization guru by night. First learned about Crypto in 2017 with the 2017 Bull Run. Left with the rest of the world in 2018 during the down period. Focused on Human Resources, Philosophy, and Social Work. Wandered into Bankless DAO in October, 2021. Became interested in the human aspect of DAOs in late 2021. Homie’s goal is to learn about people who are interested in DAOs, and how to make the DAO world a comfortable place for people from all walks of life. (edited)
Freedo_minant: Social media manager, marketer and content writer
Leah_par: a writer of contents and copies who is rooting for a world-changing DAO and a promising Web 3.
Should this idea go forward to Grants Committee?
- Yes I love it!
- I’m for it, with some questions I’ll present below
- No, I will tell you why below