International Media Nodes S7 Proposal

Title: International Media Nodes S7 proposal
Project Champion: @Jengajojo
Squad: IMN Team: @MinaHasNoIdea, @raybankless.eth + 13 node champions
Purpose: Public good
Affiliation: Translation Guild
Funds requested: 1,240,000 BANK
Project wallet(s): Mainnet: 0x09cA8B48A2b4d468daC43806751e2e3a1Fc08A31
Own subDAO/Discord server: https://discord.gg/P35pr5WHw2

PROJECT TEASER

The IMN projects creates [written and AV] bankless content in 15 different languages. On average the content generates 15,000+ views each month.

SUMMARY:

Project Description

The IMN project has two components

  1. International Media Nodes: (Max Budget: 1,675,000 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
  2. The IMN team (Budget: 265,000 BANK)

    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.

Past/preparatory activities

In S6, we identified nodes which were performing better than average and incentivised them to produce more content. At the same time we based on our experience with how content is consumed in different cultures, we identified the need to produce more original content and strategised how to execute on this front. You can find detailed stats on content produced, audiences, views and payments for each node here

In S6 we focused on producing more content in nodes which have produced content at at lower rate than IMN average of 20 BANK/view. The top performing nodes in this category are German, Japanese, Spanish, Greek and Chinese

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

RETROSPECTIVE

The project has conducted several retrospectives in the past all resulting in similar conclusions. In order to receive external funding, the project needs to generate viewership and in order to generate viewership the contributors need a living wage.

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 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:

    • 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 12000 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 in 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

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 [1,675,000 BANK]

KPI 1: 10000 BANK
KPI 2 budget = 12,000 x 15 active nodes = 180,000/month x 3 = 540,000 BANK
KPI 3: 15,000 x 15 active nodes = 225,000/month x 3 = 675, 000
KPI 4: 10000 x 15 nodes = 150,000/month x 3 = 450,000

Compensation Breakdown

IMN team [265000 BANK]

Roles and Descreptions

  1. IMN coordinator (20000 BANK/month): @jenga
  2. OPs Coordinator (20000 BANK/month) minahadnoidea
  3. Accountant (15000 BANK/month) raybankless
  4. Node/Language Champion (funded by KPIs)

Bounties & Misc:

There is 100000 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…

Total Ask = 1,940,000 - [s6 left over] 700,000 = 1,240,000

SEASONAL KPI

Factor KPI Success Metric
content # number of content uploaded on YT or substack 60/month
views # average BANK/view 20/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

POLL

Fund IMN project with the ask as stated in this proposal?

  • Yes
  • No

0 voters

@Jengajojo I am surprised the “no votes” without context as to why. Has anyone reached out to you with any concerns?
My question is that I don’t see any funds leftover from Season 6. Are the leftover funds held outside of the multisig?

Hi @Sprinklesforwinners I haven’t received any feedback from anyone on the status of why no votes.
We use mainnet only for receiving funds, all of our BANK is transferred to polygon once a season

Is there an address for polygon? Or is the same as your eth address?

This is the polygon address 0x42153D4a8dE97410205520Af906B240f47aCfcf4

1 Like

thanks @Jengajojo. The budget for this project looks great!

1 Like