International Media Nodes Project Season Proposal S9

Project Champion: jengajojo.eth🏴#5896

Squad: IMN Team: anaphant, raybankless + 10 node champions

Purpose: Public good

Affiliation: Translation Guild, Marketing Department

Funds requested: 2,954,000 BANK

Project wallet(s): Mainnet: 0x09cA8B48A2b4d468daC43806751e2e3a1Fc08A31

Own subDAO/Discord server: International Media Nodes | BanklessDAO

PROJECT TEASER

The IMN projects creates [written and AV] bankless content in 11 different languages. On average the content generates 15000+ views each month.

In S8 we generated 67,000 USD+ in external funding which is 9x more than our income from BanklessDAO. We have found product-market fit, now it’s time to scale.

SUMMARY:

Project Description

The IMN project has two components

  1. Content Creation: (Max Budget: 2**,074,000** BANK)

    1. Nodes are paid for fulfilling specific predefined KPIs
    2. Node produce AV and/or written content.
    3. Node produce translated and/or original content
    4. Active nodes have 3 roles which are compensated monthly
  2. Roles (Budget: 1,280,000 BANK)

    Role Type 1: IMN Team

    a. delivers basic services such as coordination between nodes, stats check, accounting and payments

    b. ideates and executes growth strategies as well as stewards the project within the bDAO.

    c. Helps the monezite the product and generate income from the same.

    d. Allocates leftover budget towards growth boosting activities

    Role Type 2: Node Leads

Work as a team to align with BanklessDAO, deliver content, onboard newbies, seek partnerships and walk the path towards independence

Past/preparatory activities

In S8

  • The average monthly views for S8 were 15000+
  • Kickstarted IMNwide AV content production, i.e. we funded the creation and publishing or English YT videos for BanklessDAO youtube and these are being dubbed into other languages
  • We continue to LP BANK-USDC to assist DAOwide liquidity efforts on polygon
  • S8 was our highest revenue generation season since inception. Below is an overview of our S8 income
Income Type Source Amount USD value bvault kickback terms Specific kickback value
Proactive Grant BanklessDAO S8 1,950,000 BANK 7500 -
Retroactive Grant Gitcoin BetaRound (pending bvault MS signatures) 2292 DAI 2292 All donations retained by bvault 83,9 DAI
Retroactive Grant Gitcoin Citizens Round (pending transfer) DAI and ETH 6815 20% 1703 DAI
Proactive Grant Optimism Intent#3 and Intent#4 Missions (pending transfer) 42020 OP 51780 Will be included in RPGF3 -
Retroactive Grant Optimism RPGF2 5013.4 OP 6192 10% from total RPGF2 551 OP
Retroactive Grant http://Clr.fund ((Awaiting matching calculation) ? ? - ?

You can find detailed stats on content produced, audiences, views and payments for each node here

What is a node?

A node is an attempt at spinning up a virtual bankless community in another language. The node achieves this by producing content of several types. By producing content, nodes educate audiences in new language markets about the bankless movement and nudges them to go bankless

Node Roles and Responsibilities:

All paid roles are only available for

  • active nodes [definition below]
  • Level 1 members. i.e. each role holder must be a L1 member to receive compensation
  1. Node Champion:

    • Communicate actively with IMN team and BanklessDAO
    • Align node activities with bankless values and actively participate in BanklessDAO community calls
    • Onboard new contributors, seek partnerships within the local market and grow channel audience and views
  2. Marketing Lead

    • Communicate actively with IMN team and attend weekly Marketing Department calls
    • Align node marketing content with BanklessDAO socials as well as translate and publish relevant tweet, reels or other content produced by the Marketing Department
    • Own channel audience growth and content creation across social media
  3. Content Lead

    • Align content production with newsletter team, bankless publishing as well as produce original written content
    • Kickstart and own end to end AV content production which could include original as well as translated content

RETROSPECTIVE

The project has conducted several retros in the past all leading to the same outcome which is that we need to increase views in order to attract sponsors.

FINANCIAL IMPLICATIONS

Nodes are awarded BANK for fulfilling certain KPIs and conditions each month.

  • KPI 1 [Startup funding]

    In the beginning, each node will have to set up a social media page, post at least 5 posts about the Bankless mission/crypto as well as a substack page with a post explaining the Bankless mission and vision. Each node should have at least 2 people working in the node (This is mainly a requirement for the translation since we need one translator and 1 reviewer) and the channel should have at least 50 audience members.

    Each node that fulfills the above requirements for KPI1 will receive a grant of 10000 BANK to continue with their activities of growing the channel for the next month.

  • KPI 2 [Translated Content]

    3,000 BANK is awarded for each podcast or YouTube video (An educational video minimum 5 min long) that the node publishes and shares on social media.-AND/OR-

    A node is awarded 3000 BANK each for every newsletter that is translated or produced and distributed to the local community via substack/medium and social media. The node can decide the details of the newsletters from the following criteria:

    • Any one of the bDAO newsletter.
    • Own newsletter which could be a mashup of bDAO/HQ newsletter. In order for the newsletter to qualify for funding, it needs to consist of at least 1000 words.
    • Any HQ/bDAO/bankless publishing article that is translated and distributed to the local community via substack/medium and social media

    The max cap for each month, for each node is 18000 BANK in this category

    KPI 3 [Original Content]

    5000 BANK will be awarded to each node that produces original written or AV content. Newsletters must be atleast 750 words and AV content must be atleast 5 mins in length.

    The max cap for each month, for each node is 15000 BANK in this category

    KPI 4 [Promotion]

    a) 10,000 BANK per node if IMN views average of that month was reached

    b) <10,000 BANK based on shortcoming to reach IMN views average

    c) nodes that reached KPI 1 less than 6 months ago receive 5,000 BANK irrespective of their views - the remaining 5,000 BANK will be distributed based on their shortcoming percentage

Additional Terms:

  1. Champions must submit following node data at the end of the month to be remunerated for the month.

    a. Social Media Followers

    b. Newsletter Views

    c. Youtube Views

    d. Podcast Listeners/Views

    e. Content produced (incl. links)

  • A deadline for fulfilling any KPI is measured on the metrics achieved by a node between the first of the month and the last day of the month.
  • Champions will be given 1 week to fill the data for their node by the stats team
  • Nodes which have not submitted data by the date specified by the stats team will not receive compensation for that month. The final implementation will be decided between the champions on a weekly meeting
  • The IMN project awards its participants every month (as opposed to a seasonal model) hence, any BANK that is left unawarded, will be used as bridge funding between seasons or will be ported over to the next season to award nodes which fulfill KPIs.
  • All payments are made at the beginning of the month after which KPIs were achieved. All KPIs, except KPI1 are reset at the beginning of the month.
  • Nodes which do not produce translated content, are eligible to receive max cap stated in KPI2 at the same content rate as KPI 3
  • Any left over BANK from each month is used to award bonuses to nodes which have been active for 3 months in a row. Each node gets max. 10% BANK bonus on top of the monthly compensation for being active that month
  • Any content incentivization strategies which have worked in the previous months will continue in the next month

The Definition of an Active node is

  • The node champion is an L1 member
  • The node posts 1 piece of content (either newsletter or youtube video) each week

Project Breakdown

Budget for Nodes [ 2,074,000 BANK]

KPI 1: 10000 BANK

KPI 2 budget = 18,000 x 12 active nodes = 216,000/month x 4 = 864,000 BANK

KPI 3: 15,000 x 12 active nodes = 180,000/month x 4 = 720,000 BANK

KPI 4: 10000 x 12 nodes = 120,000/month x 4 = 480,000 BANK

Compensation Breakdown

IMN team [ 1,280,000 BANK ]

Roles and Descriptions

IMN coordinator: @jenga (30000 BANK/month) x 4 = 120,000 BANK

OPs Coordinator @anaphant (30000 BANK/month) x 4 = 120,000 BANK

Finance Manager @raybankless (20000 BANK/month) x 4 = 80,000 BANK

Node Champions (10,000 BANK/month) x 4months x 8 champions = 320,000 BANK

Marketing Lead (10,000 BANK/month) x 4months x 8 coordinators = 320,000 BANK

Content Lead (10,000 BANK/month) x 4months x 8 coordinators = 320,000 BANK

Election of roles:

All IMN team roles are elected each season with the help of a sesh poll in the IMN channel. Language champions are decided within each node based on their own internal governance process.

Bounties & Misc:

There is 100,000 BANK allocated for adhoc work such as taking meeting nodes, investigating KPIs that nodes have fulfilled, folks who helped write grants or worked with the marketing squad, etc…

S9 Budget = 1,776,000 + 1,280,000 + 100,000 = 3,354,000 BANK

[s8 left over] 400,000

Total ask for S9: 2,954,000 BANK

SEASONAL KPI

Factor KPI Success Metric
content # number of content uploaded on YT or substack 90/month
views # average BANK/view 22/month

BRANDING

Each node uses the bankless brand and is stewarded by the node champion. Each node champion is required to be a L1 member in order to qualify for rewards.

COMMITMENTS

The IMN project will pay the bDAO treasury 10% of any revenue that is generated by grants, sponsorships, or partnerships. Revenue that nodes manage to create apart from that will instead be used to grow the respective nodes.

FURTHER PROJECT CHANNELS

  • Approve
  • Abstain
  • Reject
0 voters
2 Likes

What’s the relationship between the funding from Accruing value via RPGF3

Versus the funding requested for IMN?

Super! It’s incredible how the new blood made hype and evolution. Very happy to continue see you growing and happy to help.

IMN creates digital content while Accruing value via RPGF3 creates physical meetups

2 Likes

The idea is that there Accruing value via RPGF3 expands out to more than just what the IMN does?

And the funding for the IMN with global events is not sufficient for the RPGF3, thus the double ask?

Could you instead ask for funding amount for IMN to cover the onboarding events?

Also, global events asks for a different ask?

1 Like

We tried to mix global community building into IMN in the past, but folks wanted to keep the scope of IMN narrowed down to content creation. Global events partners with existing crypto events and offers tickets to bDAO members, it’s not specifically an onboarding event

1 Like

This is a good way to organize the three options. That’s for sure!

1 Like

Hello @anafante,

It’s Daolexa from Grants Committee, would you mind answering some questions reg funding request for season 9?

First of all, would like to congratulate on the amazing work you’ve done!

I will add my questions following your proposal order:

- Affiliation:
Is there any crossover with Bankless in Spanish (Nacion Bankless) as they are doing a lot of English - Spanish translation, and are focused on bringing more Spanish speaking members to the DAO? @CryptoReuMD is the project champion.

- Revenue:
You managed to generate USD 67k! Amaziiiing!
Can you please clarify, if you do have that much revenue generated, why do you still need the bDAO funding?
Can you share more on how that money generated would be used?

- Self-sovereignty:
You found product market fit, now looking to scale, what do you see after? Do you have a plan to become self funded, or?

- KPI 1 [Startup funding]:
The 5 posts are within what time frame - on a monthly basis or seasonally?

- Scaling:
You mentioned that you need more funds to scale and to have better reach: if the funding is mainly used to compensate contributors, is there any allocation for ads (ie) or anything alike?
Creating new social media pages is great and helps spread the word, however it takes time to build up presence and get that reach - what’s your gameplan in that regard?

- Security:
If each node/contributor starts a new social media profile, and after some time decides to leave, do you have any mechanisms in place to get access to those pages and continue the work?

Thank you!

2 Likes

Thanks @DAOlexa

  1. We hope to be able to continue generating revenue in the future, but we were only able to do so thanks to the good folks helping us at DAOStewards as well as the rest of the DAO who agreed to run common marketing campaigns. The ask will enable us to sustain operations irrespective of future funding uncertainties
  2. Majority of the revenue goes to the nodes for generating content
  • The plan is to increase the reach of existing nodes by creating roles for the first time in nodes as listed in this proposal
  • Since this is a public good project, the ability of this project to become self funded is dependent on the larger ecosystems’ desire to fund public goods.
  • in the first month
  • We tried to run social media ADs in the past and it results in inorganic bot followers which do no generate long term engagement
  • That is correct, this is the reason why the project focuses on curating active nodes which produce content on a regular basis in order to generate long term presence and reach for each language page

Not at the moment, but we are working with the governance and ops dept to test new and existing solutions

Hello @DAOlexa we are not part of the Internaitonal Media Nodes for BanklessDAO Funding or expenses. We are collaborating since our early start and we use our resources and help as a service to increase the visibility of the International Media Nodes.
As you mention, we are intended to Onboard more Spanish speaking people to the DAO, but International media nodes has more than Spanish content.
Also we are not only translating content, we are creating content and helping the IMN with our social accounts.
Happy yo help if you need something.

1 Like

Thanks @Jengajojo !

Hi @CryptoReuMD, I know you arent part of the funding - was rather curious was there any collab established since you have similar efforts. :slight_smile:

2 Likes

We love helping :heart_hands:

Nación Bankless is one of the success stories of Nodes that grew up under the IMN project and became independent.

We still collaborate and support each other. @CryptoReuMD has been a great inspiration.

2 Likes