SUMMARY
- International Media Nodes: Nodes are paid for fulfilling specific predefined KPIs (1,080,000 BANK)
- IMN team: The IMN team works to get sponsorships on behalf of all nodes as well as organize the nodes in a common direction and create all necessary marketing materials and documentation for the project (354,000 BANK)
The total ask for S6 (minus leftover funds from S5) is 1,084,000 BANK
SUMMARY OF ACTIVITIES IN SEASON 5
- IMN monthly stats
- Average BANK/audience: 18.5 BANK/audience
- Average BANK/view: 62 BANK/view
SEASON 6 PLANS AND GOALS
The IMN project aims to make the bankless message avaliable to a broader audience by producing and marketing content in various non-English langauges.
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. On a longer timeframe once the nodes have reached escape velocity the idea is to increase this amount over time.
FINANCIAL IMPLICATIONS
For Season 6 the IMN project will be operated by the IMN team in conjunction with language champions. The IMN team consists of
- IMN coordinator (20000 BANK/month)
- Marketing Lead + POAP Manager (16000 BANK/month)
- Accountant + Coordinape coordinator (14000 BANK/month)
- OPs Coordinator (14000 BANK/month)
- Revenue Lead (14000 BANK/month)
- Language Champion (funded by KPIs)
JDs for all roles can be found here
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 40000 BANK/month 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…
Budget for roles:
IMN team 78000 BANK/month x 3 = 234,000 BANK
Bounties 40000/month x 3 = 120,0000 BANK
Total: 354,000 BANK
SUCCESS METRICS OR KPIS
There are currently 15 active media nodes in the IMN project. The nodes consist of language champions and contributors. In season 6 the nodes have been paid BANK for fulfilling KPIs
The budgets below is made for 15 nodes
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KPI 1:
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.
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KPI 2:
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 2000 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:
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Any one of the bDAO newsletter.
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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.
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Any HQ article that is translated and distributed to the local community via substack/medium and social media
In a month, a node can decide to use any combination of the above with a maximum cap of 24,000 BANK for each node.
KPI 2 budget = 24,000 x 15 active nodes = 360,000/month x 3 = 1,080,000 BANK
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KPI 3
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 percentageExample1 (node reached KPI 1 more than 6 months ago):
IMN views average for August is 1,000 views (derived from 14,000 total views and 14 nodes in this example)- a node that reached 1,000 views or more receives 10,000 BANK
- a node that had 800 views (80% of the average) would receive 8,000 BANK
Example 2 (node reached KPI 1 less than 6 months ago):
IMN views average for August is 1,000 views (derived from 14,000 total views and 14 nodes in this example)- a node that had 800 views (80% of the average) would receive 9,000 BANK (5,000 BANK + 80% of 5,000 BANK)
Total budget for KPI3: 10,000 x 15 = 150,000/month x 3 = 450,000
Additional Terms:
- Champions must submit 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)
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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.
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Champions will be given 1 week to fill the data for their node by the stats team
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Nodes which have not submitted data by the date specified by the stats team will not receive compensation for that month*
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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.
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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.
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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
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*
*The final implementation will be decided between the champions on a weekly meeting
Summary:
Total budget for nodes in S5 = 1,080,000 + 450,000 = 1,530,000
Total ask including ask for IMN team (354,000) = 1,530,000 + 354,000 = 1,884,000
Leftover from S5 = 800,000 BANK
Total ask for S6= 1,084,000 BANK
POLL
Fund IMN project with 1,084,000 BANK for S6?
- Yay! Let’s do this
- Nay! This proposal needs further restructuring
0 voters
I remember my first days in the DAO, in the start of the season 3… Wow, it’s been a while