Newsletter Team Season 5 Budget Proposal

Grants/Funding
1

Newsletter Team: Season 5 Proposal

Project Team:

Project Coordinator: siddhearta
Weekly Rollup Lead: hirokennelly
Decentralized Arts Lead: Grendel and Kouros
State of the DAOs Lead: siddhearta
DeFi Download Lead: Jake and Stake
Lead Staff Editor: siddhearta

Project Summary:

The Newsletter Team currently has four newsletters that require ongoing resources and funding:

  1. Weekly Rollup (internal)
  2. Decentralized Arts (external)
  3. State of the DAO (external)
  4. DeFi Download (external)

The Newsletter Team manages the weekly operations, organizes and moderates weekly meetings, and ships content at regularly scheduled intervals. Each of these newsletters require formal roles and compensation in order to ensure quality, accountability, and timely execution.

Newsletter Team Multi-sig:

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TL;DR

  • Requesting 1,223,500 BANK for Season 5
  • Increased role salaries and bounty compensation
  • Requesting 90% sponsorships for Newsletter Team multi-sig
    • Remaining 10% to DAO treasury
    • Additional 10% may go to other guilds (Marketing/ DAOlationships) for referral
  • Added bounties for seasonal project retrospective
  • Roles and bounties created:
    • 6 salaried roles
    • Over 100 writer bounties
    • 60 editor bounties
    • 23 designer bounties
  • DeFi Download budget covered by sponsorship revenue (262,000 BANK) to reduce budget request

Project KPIs:

Season 4 Goals:

Subscriber count:

  • Season 4 Goal: +20%
  • Start of Season 4: 11,000
  • Goal End of Season: 13,200
  • Current Subscribers: 12,200 (July 1)
    Open rate: average >40%
    Projected Revenue (End of Season Goal): $24,000 (8k Balancer, 8k Rarible, 8k CitaDAO)
    Actual Revenue: $55,800 ($33,800 Rook referrals, $8k Rarible, $8k Oasis, $6k CitaDAO)
    Total Expenses: 921,000 BANK/ 15 week Season

Season 5 Goals:

Subscriber Count:

  • Season 5 Goal: +20%
  • Start of Season 5: 12,200
  • Goal End of Season: 14,500
    Open rate: average >40%
    Projected Revenue (End of Season Goal): $24,000
    Total Expenses: 1,485,500 BANK/ 13 week Season

Revenue Generating Activities:

Direct revenue (sponsorships):

  • Each newsletter: $8,000/ season or $3,000/month allocated in 90/10 split (Newsletter/DAO)
    Indirect revenue:
  • Driving sales on NFT Showcases, receipt of non-native tokens, MetaFactory and other DAO initiatives and partnerships.
    Partnership with more DAOs and organizations, preserving:
  • BanklessDAO ethos
  • Focus on BanklessDAO
  • Serve BanklessDAO interest to attract more members and revenues to BanklessDAO
  • Distribution with BanklessDAO Newsletters Substack

Budget Summary

Total Budget Request: 1,485,500 BANK - 262,000 BANK self-fund = 1,223,500 BANK

Salaried Roles: Total 685,000 BANK

  • Project Coordinator: 70,000 BANK
  • Weekly Rollup Lead: 140,000 BANK
  • Decentralized Arts Lead: 136,000 BANK
  • State of the DAOs Lead: 136,000 BANK
  • Defi Newsletter Lead: 136,000 BANK
  • Lead Staff Editor: 52,000 BANK
  • Bounty jar: 15,000 BANK

Newsletter Bounty Compensation: 800,500 BANK

  • Weekly Rollup: 286,000 BANK
  • Decentralized Arts: 227,500 BANK
  • State of the DAOs: 161,000 BANK
  • Defi Newsletter: 126,000 BANK

Project Team:

The newsletter project team consists of various roles, including project coordinator, newsletter leads, authors, and editors responsible for consistently delivering high quality content, efficient operations, management, and distribution. Multiple roles may be held by a single person. We propose the following roles be funded through both salaried positions and bounties.

Detailed Budget Spec

Salaried Roles

Newsletter Team Project Coordinator:

  • Responsibilities include:
    • Moderate weekly team meetings
    • Represent the Newsletter Team in Ops Guild and broader DAO
    • Monitor and report on KPIs and sponsorships
    • Manage and distribute POAPs for participation
    • Manage Substack and Twitter distribution
    • Take notes (or otherwise collect) during weekly team meetings
    • Coordinate monthly Multi-sig payments to contributors
  • Role Salary:
    • Streams over 13 week period
    • Contains BANK for full term
    • Operates off hourly wages and weekly hours
      • [5 hrs/week] * [1000 BANK/hr] = 5,000 BANK/week
      • 5,000 BANK/week * 13 weeks/season = 65,000 BANK
  • Bounty Bucket (Distributed on first distribution as single payout)
    • 5,000 BANK/ Season for Newsletter team bounties
  • Total Compensation: 70,000 BANK/ Season
  • Project Team bounty jar (ex: retrospective): 15,000 BANK/season

Weekly Rollup Lead:

  • Responsibilities include:
    • Maintain a weekly agenda and content calendar
    • Ensure consistent delivery and distribution of content
    • Represent the newsletter on the weekly Writers Guild Meeting
    • Coordinate writers and editors week to week
    • Tracking and recording weekly bounties
  • Role Salary:
    • Streams over 13 week period
    • Contains BANK for full term
    • Operates off hourly wages and weekly hours
      • [10 hrs/week] * [1000 BANK/hr] = 10,000 BANK/week
      • 10,000 BANK/week * 13 weeks/season = 130,000 BANK total
  • Bounty Bucket (Distributed on first distribution as single payout)
    • 10,000 BANK/ Season for Newsletter team bounties
  • Total Compensation: 140,000 BANK

State of the DAOs Lead:

  • Responsibilities include:
    • Maintain a weekly agenda and content calendar
    • Ensure consistent delivery and distribution of content
    • Represent the newsletter on the weekly Writers Guild Meeting
    • Coordinate writers and editors week to week
    • Tracking and recording weekly bounties
  • Role Salary:
    • Streams over 13 week period
    • Contains BANK for full term
      • Operates off hourly wages and weekly hours
        • [10 hrs/week] * [1000 BANK/hr] = 10,000 BANK/week
        • 10,000 BANK/week * 13 weeks/season = 130,000 BANK total
    • Bounty Bucket (Distributed on first distribution as single payout)
      • 6,000 BANK/ Season for Newsletter team bounties
    • Total Compensation: 136,000 BANK

Decentralized Arts Lead:

  • Responsibilities include:
    • Maintain a weekly agenda and content calendar
    • Ensure consistent delivery and distribution of content
    • Represent the newsletter on the weekly Writers Guild Meeting
    • Coordinate writers and editors week to week
    • Tracking and recording weekly bounties
  • Role Salary:
    • Streams over 13 week period
    • Contains BANK for full term
      • Operates off hourly wages and weekly hours
        • [10 hrs/week] * [1000 BANK/hr] = 10,000 BANK/week
        • 10,000 BANK/week * 13 weeks/season = 130,000 BANK total
    • Bounty Bucket (Distributed on first distribution as single payout)
      • 6,000 BANK/ Season for Newsletter team bounties
    • Total Compensation: 136,000 BANK

DeFi Lead:

  • Responsibilities include:
    • Maintain a weekly agenda and content calendar
    • Ensure consistent delivery and distribution of content
    • Represent the newsletter on the weekly Writers Guild Meeting
    • Coordinate writers and editors week to week
    • Tracking and recording weekly bounties
  • Role Salary:
    • Streams over 13 week period
    • Contains BANK for full term
      • Operates off hourly wages and weekly hours
        • [10 hrs/week] * [1000 BANK/hr] = 10,000 BANK/week
        • 10,000 BANK/week * 13 weeks/season = 130,000 BANK total
    • Bounty Bucket (Distributed on first distribution as single payout)
      • 6,000 BANK/ Season for Newsletter team bounties
    • Total Compensation: 136,000 BANK

Lead Staff Editor:

  • Resposibilities include:
    • Work with Newsletter Leads to assess incoming article submissions in terms of required editing lift and writing style.
    • Manage the kanban board and ensure accepted articles move through the editing process in a timely manner.
    • Post editing opportunities for qualified Editors Circle tag holders and ensure equitable assignment of editing tasks.
  • Role Salary:
    • Streams over 13 week period
    • Contains BANK for full term
      • Operates off hourly wages and weekly hours
        • [4 hrs/week] * [1000 BANK/hr] = 4,000 BANK/week
        • 4,000 BANK/week * 13 weeks/season = 52,000 BANK total
    • Total Compensation: 52,000 BANK

TOTAL SALARIED ROLES: 685,000 BANK

Writer and Editor Bounties

Weekly Rollup (ships weekly):

  • Front end/ back end author- responsible for Community Highlights, What’s New, Action Items, and Proposals
    • 3000 BANK/week each (6000 total)
  • Headline piece author- responsible for weekly featured editorial
    • 6000 BANK/week
  • Community call notes
    • 1000 BANK/week
  • Copy Editor
    • 3000 BANK/week
  • Developmental Editor
    • 2000 BANK/week
  • Design (Header)
    • 4000 BANK/week
  • TOTAL 22,000 BANK/ week = 286,000 BANK/Season (13 weeks)

Decentralized Arts Newsletter (weekly):

  • Author- responsible for curating content
    • 6000 BANK/publication
  • Headline piece- responsible for weekly featured editorial
    • 6000 BANK
  • Secondary editorial
    • 2500 BANK
  • Editor
    • 3000 BANK/publication
  • TOTAL 17,500 BANK/ publication = 227,500 BANK/Season (13 weeks)

DAO Newsletter (biweekly):

  • Author- responsible for curating DAO content
    • 6000 BANK/publication
  • Headline piece- responsible for weekly featured editorial
    • 6000 BANK
  • Editor
    • 3000 BANK/publication
  • Editorial Developmental Review
    • 4000 BANK (2000 x 2 editors)
  • Design (Header)
    • 4000 BANK/week
  • TOTAL 23,000 BANK/ publication = 161,000 BANK/Season (7 publications/13 weeks)

DeFi Newsletter (monthly):

  • Author- responsible for curating DAO content
    • 12,000 BANK/publication
  • Headline piece- responsible for weekly featured editorial
    • 18,000 BANK
  • Tokenomics 101
    • 1000 BANK
  • Editor
    • 3000 BANK/publication
  • Editorial Developmental Review
    • 4000 BANK (2000 x 2 editors)
  • Design (Header)
    • 4000 BANK/week
  • TOTAL 42,000 BANK/ publication = 126,000 BANK/Season (3 publications/13 weeks)

TOTAL BOUNTY BUDGET: 800,500 BANK/Season

TOTAL NEWSLETTER PROJECT BUDGET: 1,485,500 BANK/ 13 week Season

TOTAL BUDGET REQUEST FROM GC: 1,223,500 BANK

Newsletter Team Governance

The Newsletter Team is composed of Project Roles and Team members:

  • The Project Roles are nominated roles lasting for one season and require renewal or ratification each season by members of the Newsletter Team.
  • Newsletter Team members are those BanklessDAO members who hold the Newsletter Project tag.

Project Role Nomination Process

To ensure the quality and continuity of the various newsletter projects, it is expected that Project Role holders will have been active on the Newsletter Team for the entirety of the prior Season.

Project Role Nominations (open for seven days):

  1. Newsletter Team members cannot nominate themselves. They must be nominated by another member.
  2. Nominees may accept or deny the nomination. If they accept, they must provide the following:
  3. Contributions to the Newsletter Team
  4. Qualifications for the position
    1. Familiarity with project workflow and processes
    2. Actively involved in mentoring and training new contributors and onboarding
    3. Promotion of DAO culture and values
  5. Why they want to be elected
  6. Additional sponsors (prefered, but not required)
  7. When nominated, the Project Coordinator will reach out to nominees and inform them of the process as a part of their responsibilities.

Elections:

  1. Project Roles for which there are multiple nominees will result in an election by way of sesh poll, with voting limited to current Newsletter Team members.
  2. The sesh poll will be active for 72 hours in the #newsletter-general channel. The nominee with the highest number of total votes will be the Project Role holder for the next Season.

Newsletter Team Multi-sig

Project funds will be custodied by a (3 of 5) Gnosis Safe multi-sig wallet with seasonally nominated members to sign transactions. Gnosis Safe positions must be held by Newsletter Team Project Roles OR L1/L2 Newsletter Team members if there are not enough Role holders to fill the five positions.

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