EPA S4 Proposal

Project Team

Content Manager: Frank America#0610

Content Manager: hirokennelly.ethᵍᵐ🏴#0001

Lead Staff Editor: Trewkat#1933

Lead Staff Editor: siddhearta#9802

Traversing Seasons Towards Self-Sustainability

Season three was all about the editing. EPA firmed up a top shelf editing circle, emblazoned a clear style and quality based ethos amidst its body, and brought a higher level of content to the fore. Here a snapshot of S3:

  • Implemented quality control mechanisms at the beginning rather than the end (through the Editors Circle).
  • Formed a tight-knit Editors Circle of skilled, quality editors
  • Rolled out a mentorship project for new editors
  • Increased viewership

In the last 90 days the EPA’s medium has been viewed 35,516 times, read for a total of 61,501 minutes (that’s 1,025 hours), and boasts 288 unique viewers per day.

But there is a problem. Medium does not let us monetize via sponsorships, authors aren’t quite as motivated only to write for BANK as they were initially, and there’s arguably a bit of a content gap between what we’re publishing en-masse and what Web3 wants to read. To be clear we’re crushing it, but we can do better. Not enough writers are writing, nor are enough writers writing about what we feel could draw in more readers.

Meet Season 4 and our proposed solutions:

Season four for the EPA is all about attracting writers. With top-shelf editing in tow, and a chest of 70+ articles on Medium under its belt, the primary goal of the EPA is to become profitable in order to pay writers. In S4, we’ll implement the following:

  • Increase the amount authors paid per article
  • Decrease time-lag between submission and publication for DAO authors to 3 weeks
  • Open submissions to the wider Web3 community to enhance imprint, and range
  • Migrate past and future Medium content to our own website
  • Secure advertising/sponsors by end of S4 to pay authors in stable and BANK (20/80)
  • Ramp readership data, and Increase minutes read, views, and unique visitors by 20%
  • Develop an On-Demand menu of topics that we’re looking to see as content

With a strong body of readers, and a spike in Season 4 budget, we can tilt the scales in our favor to secure advertising/sponsors and lift this publishing boat onto the seas of commerce.

On behalf of BanklessDAO, the EPA will become the top shelf publishing center in Web3.

What’s it all S4?

Each of the above bullets are designed to generate: great content and happy writers.

Paving a route to financial stability via sponsorships and advertising is the top priority for the EPA in Season 4. As mentioned, in Season 3, we significantly improved our quality control mechanisms by implementing the Editors Circle. Now that we are regularly shipping high-quality content, we can begin to reach out to sponsors and get funding for articles.

Our target goal is 25% self-funded by the beginning of Season 5, and 50% self-funded by the beginning of Season 6.

Growing our audience is also a priority. Getting a wider reach will be a big part of Season 4. To this effect, an in-house EPA-specific talent initiative is aimed at gaining a wider reach. Specifically, in addition to Thursday meetings, every Tuesday at noon PST there will be Weekly Talent Management Office Hours. Our focus is recruiting more talented writers from outside the DAO.

Upskilling editors via an editing mentorship program run by the Editors Circle will also be a significant goal. We aim to create an environment where new editors can learn from more seasoned editors, so we can train a workforce of Web3 editorial talent to serve the DAO and the greater ecosystem.

Salaried Roles

  • Content Manager: 6,000 BANK per week
  • Content Manager: 6,000 BANK per week
  • Lead Staff Editor: 3,000 BANK per week
  • Lead Staff Editor: 3,000 BANK per week

Content Manager Salary: 78,000 per season

Lead Staff Editor Salary: 39,000 per season

2 Content Managers

  • New website management
  • Attract engage advertisers/sponsors
  • General quality control”
    • Final edits and tweaks of the article for quality control.
  • Tweet copy for bDAO Twitter page.
  • Cover design coordination (working with bDAO designers to get a well-suited cover)
    • Multiple iterations
    • Managing attracting talent
  • New author engagement

(6,000 BANK per week x 13 weeks) = 78K

156,000 BANK for Season Four Content Managers

2 Lead Staff Editors

  • Do a first “screen” of the articles that come in through the submission folder.
  • Manage the kanban board and ensure articles move through the editing process in a timely manner.
  • Post updates in the Editors Circle chat.

(3,000 BANK per week x 13 weeks) = 39K

78,000 for the season for Season for Lead Staff Editors

234,000 BANK for Season Four Role Holders

Writer, Editor, and Designer Bounties

Budgeting for 2 articles per week

Writers

Writers will be paid up to 12,000 BANK for their pieces.

2 articles per week at max pay of 8,000 BANK = 16,000 BANK per week.

16,000 x 13 weeks = 208,000 BANK for Season Four Writers

Content Editors

Content edit: 3,000-5,000 BANK per edit

5K BANK at 2 Edits per week

10,000 x 13 = 130,000 for Season Four Content Editors

Copy Editors

1,500 BANK with two articles per week:

3,000 x 13 = 39,000 for Season For Copy Editors

Cover Designers

5,000 BANK Pool per week for Content Managers to leverage cover designers

5,000 x 13 weeks = 65,000 for Season Four Cover Designers

Mentorship Program Bounties

40,000 BANK bounty pool for tipping and compensating mentors and mentees

Total for writer, editor, and designer, and bounties: 560,000

Note-taking Bounties

1,000 BANK per meeting

13,000 BANK for the season

PM - Project Life Cycle Management

12,000 BANK for two reports (mid and final)

24,000 BANK for the season

TOTAL: 741,000 BANK

  • Yes, Approve EPA for S4
  • No, Disapprove EPA for S4

0 voters

1 Like

Can you clarify the ‘up to 12k bank’ for writers? Is that a determination based on length or quality? This is a significant jump from the 4k bank last season and curious how the pay rates will be determined.

2 Likes

Great question Sid. Moving up to 3 bank per word with a cap at 6,000 $BANK. We only publish a maximum of 8 articles per month. That’s 24 articles in S4. An additional 6K per article will be to publish more articles, and to bonus authors that generate a top 1/3 level readership (in relation to existing content) to be calculated 30 days after publication.

The thinking here is to increase the quality of content, and draw in a higher skill-level of authors contributing. Strauf’s piece on $BANK, or $LUNA are examples of that high-water mark.

The intent is not to willy-nilly pay way more for the existent level writing regardless of efficacy but we do feel that 4 bank per word will help stimulate submission rates. An increased pay, an incentivezed performance should augment the quality and quantity of submissions we receive, and publish.

Sid, we dropped the writers pay ask. Clipped 104K Bank of the total request. Feels more reasonable now. Still want to incentivize writers. So bumping the cap up from 4 to 5K per article, with a 3K bonus for top 1/3 performing pieces. The extra BANK would also enable possibly more that 2 articles per week. - Frank

2 Likes

An EPA website or specifically bankless.community?

1 Like

Paving a route to financial stability via sponsorships and advertising is the top priority for the EPA in Season 4.

Hey Frank, great progress with EPA. Couple of newbie questions:

When you say Medium does not let you monetize via sponsorship - do they take down articles that mention a sponsor (either in the title of the publication or in individual articles) or have sponsor branding in photos?

I’d imagine that leaving medium will mean that traffic will take a hit in the short term. Where do you think your metrics would need to be to sign initial sponsorship or advertising deals?

If you left medium, are you confident that your traffic will continue to grow in the long term?

1 Like

Great question. No concern there. The main draw for articles is that they are current web3 content and highly readable. Hosting on our own website won’t change that. Secondly, the largest amount of views comes in from our marketing efforts, which are link based and would simply direct to new site. Lastly, folding adverts into medium would be a no-no, and flanking out would only provide more robust analytics, and long term growth. It’s a win win, plus an opportunity to fold in Web3 elements (like $BANK-holders only accessible content).

Its own site dedicated to publishing, and optimized for reading.