International Media Nodes Season 3 Budget Proposal

[Jengajojo]

Author: jengajojo
Date Created: 1st Dec, 2021
Date Posted: 20th Dec, 2021

SUMMARY

The IMN project is asking for a total of 1,590,000 BANK for Season 3. These expenses are divided into two parts:

1. International Media Nodes: Nodes are paid for fulfilling specific predefined KPIs (1,250,000 BANK).
2. 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 (340,000 BANK).

SUMMARY OF ACTIVITIES IN SEASON 2

The IMN project consists of a diverse group of entrepreneurs, translators, and content creators from different geographical regions. In the first two months of the project, 22 nodes have sprung up with more than 45+ active contributors, translating and distributing some 164 articles per month to their native languages and attracting more than 21000 followers combined via social media channels in native languages. According to Sobol, almost 30% of roles held in bDAO are under the IMN project. A list of all social channels can be found here.

Since the launch of the project, we have managed to grow the number of Nodes (15 in the initial proposal – 22 now – 5 are marked as inactive or on the works).

• During the last 2 months, 72.2% of the nodes have fulfilled the KPIs, both in terms of growth and translation/distribution of material set by the initial proposal. More info can be found here.
• Overall, the combined audience of the IMNs grew from 13700 on October’s snapshot to 16.900 in November to 20.100 (46% growth since October) on the day of writing (17 December).

Besides metrics, the individual nodes have been hard at work building their new local communities to figure out setting up discords, dividing tasks, and spinning up regular calls for contributors within the sub-DAO. 4 episodes of the UnPacking IMNs show were held featuring champions from 4 successful nodes. We hope that this will offer insights to others on how to start and operate their nodes. The UnPacking IMNs show will be turned into a podcast in conjunction with the Podcast hatchery project.

Finally, a few micro roles were initiated to help with IMN coordination and allow more contributors to participate in the micro roles. The IMN team has been working with the sponsorships project to create a media kit and product menu as well as reaching out to external parties such as meta factory to get referral codes. Steps have been taken to apply for a common grant to the Polygon DAO grants and Moloch DAO. The IMN project also benefited from the Yearn grant and the team hopes to work on more grants in the future.

SEASON 3 PLANS AND GOALS

Of the world’s population, only 5% speak English as a native language, The goal of the IMN project is to set up media nodes in as many languages as possible so that we can reach a truly global audience and become a global movement. The IMN project has only been up and running for one season even though some of the nodes are older than bDAO itself, we have seen great success in Brazil and France that have been operating the longest, but the newer nodes are also making good progress.

For Season 3 the goal for the nodes is to increase the overall reach of the project to an audience of 50 000 people across all nodes and platforms. Reaching this goal would be outperforming the KPIs set by each individual node by a significant margin. The goal for the IMN-team, besides managing the project, is to generate at least 10,000 USD worth of revenue for the nodes from external sources.

The IMN project will pay the bDAO treasury 5% 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 3 the IMN project will be operated by the IMN team in conjunction with language champions. The IMN team consists of an IMN coordinator and open roles which are paid via monthly coordinape rounds.

Coordinator 20000 BANK/month

• The coordinator is the single point of contact between bDAO, guilds, IMN champions, and the IMN Team and ensures that the project follows a unified direction.
• Organize regular meetings, follow-up with action-item implementation.
• Manage all payments related to the project.
• Assist new nodes with kickstarting operations and existing nodes to grow their reach.

IMN Team (60000 BANK/month)

Anyone could select the IMN contributor tag and start contributing to the IMN project. The team is paid via monthly coordinape rounds. Some of the tasks include (but are not limited to):

• Organize and deliver the UnPacking IMNs show in order to raise awareness of the project and inspire others to start or improve their own nodes.
• Orchestrate coordination between different internal & external actors to deliver crypto or in-kind benefits to all the nodes.
• Work with other guilds and projects to apply for grants and sponsorships on behalf of all nodes.
• Develop & manage the IMN landing page with the goal of using it as a banner for all projects stats, visualizations, updates, etc.
• Ensure that there is alignment between KPI payments and the actual results of the node.
• Work with the IMN project team and the greater DAO to ensure delivery of all external grants and sponsorships.

Language Champion (funded by KPIs)

• Be the point of contact between bDAO and the local language community.
• Deploy strategies to start/grow follower base and subscribers for the local language content.
• Report to bDAO on monthly progress.
• Make sure that all content and local contributor activities are aligned with the rest of the DAO.

Bounties & Misc:

• The IMN team can use an allocated budget of 50000 BANK to pay for bounties throughout the season. Bounties are paid out in exchange for tasks that require skills that are outside the expertise of the IMN team. Bounties include tasks such as taking meeting notes.
• 50000 BANK is allocated for micro roles or other misc expenses. Initially, we’ll experiment with the structure of the IMN team to identify the most needed roles and then form concrete roles in the final month of the season.

Total Team expense:

Coordinator (20000 BANK x 3) + IMN Team (60000 BANK x 3) + Bounties (100000 BANK) = 340,000 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 2 the nodes have been paid BANK for fulfilling KPIs (details).

Moving forward in Season 3 we would like to continue with the original KPI1 and KPI3 and modify KPI2.

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.

KPI 2:

1. If a node brings sponsorship or grants to the IMN project, such that these revenue sources benefit the IMN project as a whole, then, 1000 BANK is awarded for each 1000 BANK equivalent in revenue added to the IMN multi-sig.

-OR-

1. 2000 BANK is awarded for each podcast or YouTube video that the node publishes and shares on social media.

-OR-

1. A node is awarded 1000 BANK each for every newsletter that is translated or produced and distributed to the local community via substack and social media. The node can decide the details of the newsletters from the following three criteria:

• Any one of the bDAO newsletter.
• Any one of the HQ newsletter.
• Own newsletter which is a mashup of bDAO/HQ newsletters.

In a month, a node can decide to use any combination of the above with a maximum cap of 15000 BANK for each node.

KPI 3:

a.Nodes that are starting from scratch (minimum 50 followers) will receive grants based on the following criteria:

100% monthly growth = 10000 BANK
75% monthly growth = 7500 BANK
50% monthly growth = 5000 BANK
25% monthly growth = 2500 BANK

b. Nodes that have more than 300 audiences* members will receive grants based on the following criteria:

25% monthly growth = 10000 BANK
20% monthly growth = 7500 BANK
15% monthly growth = 5000 BANK
10% monthly growth = 2500 BANK

c. Nodes that have more than 2000 audience* members will receive grants based on the following criteria:
10% monthly growth = 10000 BANK
7.5% monthly growth = 7500 BANK
5% monthly growth = 5000 BANK
2.5% monthly growth = 2500 BANK

*Audience refers to total followers+subscribers across the entire channel stack.

• 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.
• To unlock KPI2 and 3, a node must first fulfill KPI1.

Summary:

There are 15 active nodes, the calculation is made with 16 nodes which include a buffer of 1 node.

KPI1 (only awarded to new nodes) 10000 BANK/node: 50000 BANK (as a buffer for new nodes to join).

KPI2 (15000 BANK x 16 nodes x 3 months): 720000 BANK

KPI3 (10000 BANK x 16 nodes x 3 months): 480000 BANK

Total budget for nodes: 50000 +480000+720000=1,250,000 BANK

ALL PAYMENTS ARE MADE AT THE END OF THE MONTH. ALL KPIs EXCEPT KPI1 ARE RESET AT THE BEGINNING OF THE MONTH.

Do you support this proposal and the requested funding for Season 3

• Yay! Let’s do this!
• Nay! Needs modification

[rotorless]

I have a few questions I hope you can answer:

The proposal says it will give 5% to the treasury. Paid in what currency?

If members of the guild are already getting paid in $Bank, is the proposal that in addition to their renumeration in $Bank that they receive 95% of the outside funding for themselves?

How will the paid positions be selected for the International media node? I did not see how the paid positions will be allocated ? Are they competitive?

Something to consider is if outside funding grants and sponsorships should go to the Treasury , and then get disbursed out through the GC to meet the needs of the IMN.

[Jengajojo]

1. As highlighted via the Sobol map, almost 30% of all roles held in bDAO are held by IMN contribtors, but the project does not ask for 30% of bDAOs’ seasonal expenses. Hence, the project needs to generate revenue from other sources to pay it’s underfunded contributors. Hence the project plans to generate revenue from external grants and sponsorships and send 5% of the received funds to bDAO treasury. The long term plan is to increase this % overtime and eventually pay-off all debts and pay a lisencing fee for the Bankless Brand. The currency is question is the one we’d receive sponsorship or grants in.

2. There is only 1 role meant for election that is of the IMN coordinator, anyone can apply for it now in the IMN-Announcements channel. The language champions are decided by each node within itself. The IMN team is open roles for anyone to join and contribute.