Hereby Kouros and I would like to propose the creation of a premium translation service marketed and implemented by BanklessDAO, offered to blockchain protocols and projects, aimed at constituting a new form of onchain revenue for the DAO and for those who will dedicate their time and skills.
The project will be built in three successive phases, in order to be able to start it as soon as possible even if in beta phase:
1. Foundation
Establishment of the team, consisting of one or two project owners who will later be assisted by managers (the number will be determined based on organizational needs);
Definition of a fair remuneration for translators, team and the DAO;
Selection of translators who guarantee their availability;
Creation of the offering, both from the point of view of timing and costs;
Logo and communication design;
Check with Bankless LLC and DAO members to select the first blockchain protocols and projects to contact.
Estimate of the timing of implementation: 2 weeks.
2. Website
Implementation of a dedicated site, where customers can - by paying extra - have a section, reachable with a specific domain, where they historically keep all their communications both in the original language and in the translated versions.
Estimate of the timing of implementation: 6-8 weeks.
3. Social channel
Creation of a social channel dedicated to DeFi users from all countries, to communicate the releases of all translations.
Estimate of the timing of implementation: 2-4 weeks.
Revenue model and revenues split model
The translation service team will create an offer based on ETH and DAI (other cryptocurrencies and tokens may also be agreed) to attract DeFi projects.
Revenues will be shared between the project team and Bankless DAO in a similar way to existing agreements (sale of NFT for example), deducting translators’ fees from the total. Payments to contributors will be made in the same currency as received from the client.
Great idea to monetize the Translation Guild and the diversity in the DAO! It would be very interesting to see a heat map for the bigger potential customers and see where their possible translation needs would be.
Will the project be seeking funding in S1 for the work prior to getting the first customers onboard?
Thank you for your feedback!
I don’t think this project will need any funding, it will be funded with customers payments, in order to create an onchain revenues stream for the DAO.
This is great. Our internal translators guild is a great case study. I’m sure this is the plan, but perhaps you can codify the workflow as a means to show clients how it will operate?
Sure, I will wait one more day and, if this project will be accepted by the DAO, we will start working on procedures, costs and l’about estimations and organization.
Thank you for your feedbacks and votes!
Tomorrow, June 23rd, Kouros and I will start building the project by forming the genesis team, defining the translation areas and resources available. Then we will draft the workflow, to show it first to the DAO and then to potential customers.
The project will not require funding from the Treasury.
I’m also very enthusiastic about this proposal! A lot of Defi projects suffer from lack of quality translation, as it can be highly technical, and much often very industry-related. It is a shame when those projects have the ambition of onboarding users from all over the world, do the education about their products, and need to sound competent enough to compete with fintech and big financial organizations.
Who’s better positioned to help than Bankless DAO, where we have a deep understanding of the projects, and the experience of dealing with blockchain & defi mechanics and vocabulary?
More than translators, we are builders and legitimizers
100% support the proposal, it is often extremely difficult for non-native English speakers to understand, because even when using some translation tool, there is always a loss of real meaning in the translation
If we are to onboard one billion people this proposal is an essential component of our toolkit. It can also, quite frankly be a lucrative endeavor.
Just as we are all learning together and teaching one another about the decentralized future we envision, my view is that our multilingual and multicultural community can be a model for human interaction on a more societal level.
Following up with this post, I have a thought, we can create an account in such blockchain based social media as hive.blog and steemit, we can put our translated articles there.
This can not only expand influence of bankless DAO, but also can obtain some income from votes there.
The account creator can delegate translators to publish their translated articles in hive.log or steemit.
