Proposal: International Media Nodes [Revised]

Original post: International Media Node Proposal

Author: @jengajojo

Squad: @jengajojo, @Jon Otherbright @DavidBankless @john | Bankless Brasil @paulDE @GalPe @Attilla @eternalflame @cyclist @gioser mehdi laurΞnt Ts words Usua◎ Silver Sympatheia kbuger

Summary

International Media Nodes (IMN) are non-English Bankless channels that spread the message of the Bankless movement to all parts of the world through digital media tools such as (but not limited to) social media, substack, youtube, podcasts

The goal of this project is

  1. Generate a wider, multi-lingual audience for the bankless mission & vision
  2. Engaging bDAO contributors in a productive way as well as generating new contributors for local nodes and bDAO
  3. Helping entrepreneurial contributors/node operators to bootstrap their local nodes

More information can be found here

BACKGROUND

In the previous seasons, many contributors started their own media channels in local languages (without clear guidance) out of a desire to spread the Bankless message to a new audience. Those channels received decent growth and support from the local language communities and wider support from the crypto community in the form of Gitcoin grants and sponsorships

In S2, we aim to empower more contributors to start nodes in their own languages and grow the multi-lingual audience base for the Bankless mission.

Participating Nodes for S2

BanklessFr/MetaversalFr/DailyGweiFr

BanklessCz

Bankless Brasil

BanklessHi

BanklessAdria

BanklessGreece

BanklessDE

BanklessBG

BanklessITA

Bankless Norway

BanklessCN

Bankless Farsi

BanlessTR

BanklessVN

MISSION & VALUES ALIGNMENT

The IMN project strengthens the vision of the DAO to bring the next billion people into crypto by opening up the content to non-English speakers. The IMN project operates in coordination with the other guilds of the bDAO and aligns its actions and material produced, with the common goals set through the Bankless community.

Specifications

The project aims to support local nodes in their growth process by providing clear KPIs and an IMN coordinator (already in guild budget) to act as a liaison between the nodes and bDAO.

Process

Each language node has a champion elected who will be the point of contact between bDAO and the local node operations and contributors. The champion is ideally someone with an entrepreneurial spirit/background. Each node will have to fulfill certain KPIs in order to receive funding.

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

Each node will publish at least 1 newsletter each week for their community on substack and share it on their social media page. The node can decide the details of the newsletter 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

Each node will receive 1000 BANK for completing this KPI and will be paid out at the end of the month. (1000 BANK/week x 4) = 4000 BANK/node/month

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 audience* members will receive grants based on the following criteria

20% monthly growth = 10000 BANK
15% monthly growth = 7500 BANK
10% monthly growth = 5000 BANK
5% 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

For reference here is growth data from existing nodes

  • A deadline for fulfilling any KPI is measured on the metrics achieved by a node between the first of the month to till the last day of the month
  • To unlock KPI2 and 3, a node must first fulfill KPI1.

Reporting

  • Each language champion is responsible for updating their stats to the IMN Database
  • The stats should be updated on the last day of the month
  • The IMN Coordinator is responsible for maintaining the IMN database and adding stats on behalf of nodes who are MiA

Financial Implications

  • The max budget for each node for this season is 38000 BANK = (10000 startup costs + 8000 newsletters + 20000 performance)
  • The nodes are entitled to make their own decisions on how to grant money is spent
  • There are a total of 14 nodes participating in this season, hence the requested funding amount is 532000 BANK

The multi-sig will coordinate payments based on KPI fulfillment and payments will be made at the end of each month. Any leftover funds will be used to compensate KPI fulfillment for the next season on new nodes which join during the season.

Note: In S1, 10000 BANK was spent on each language to translate 2 newsletters with low/no readership. Compared to that, the Translation Guild has no budget for S2 and max. 14000 BANK will be spent on each language which includes promotion on social media as well as performance-based compensation. In short, this project offers better terms for bDAO as well as the contributors as compared to previous seasons.

Revenue Generation strategies

The IMN team will work out a clear revenue generation strategy which could already start being implemented this season but will be set into motion in full force in the next season. The goal of the IMN project is to ultimately enable media nodes to officially join the Media Node Protocol and move ahead with the revenue-sharing model as highlighted in the Media Node Protocol document. Some of the activities that will be discussed for implementation are:

  1. Premium Translation Service
  2. Newsletter translation from Decentralized Arts and other newsletter projects
  3. Referral links for bDAO merch drops and NFT sales
  4. BizDev

Other information

  • if a node meets KPI1, it will receive 10k irrespective of when the node started its operations.
  • More nodes can join the project during the season, in this case, a new grant application will be made for those nodes during the season.
  • Bankless Africa node is being developed and run by another crew and is not involved in this project
  • Yay! Let’s do this
  • Nay. Needs more revision

0 voters

2 Likes

“IMN coordinator (already in guild budget) to act as a liaison between the nodes and bDAO”. — I suggest that these coordinators take a “coach” or “techical support/connector” approach, meaning they are “responsible TO” the nodes, rather than a managerial “coordinator” type role. Look to Buurzorg (global, neighborhood-based-team nursing network) and Great Harvest Bread Company’s “learning community” as models. Also, the Network Weavers Handbook is a great reference.

4 Likes

Followers = twitter
Audience = twitter + substack subscriber?

Love this proposal and feel it’s a natural evolution for the translator’s guild to maximize their effectiveness. KPIs seem well thought out, and rewarding growth rates rather than overall size is quite equitable to participants given the wide range of target market sizes.

Budget may be small if anything, compared to the value provided by globalizing the bankless message. No brainer yes, in my opinion.

I assume each of the nodes will maintain a multisig for their independent management of funds. This may mean that the minimum number of operators per node is effectively 3, unless a coordinator or guild rep serves as the third signer.

Excited to see the developments. A dashboard showing the nodes and their engagement metrics would also be a fabulous addition to the bDAO site so that we can all monitor growth and celebrate the fruits of this initiative. LFG!

1 Like

Yes, audience is your total number of followers and subscribers depending on which channels a node chooses to use.

3 Likes

agree, Dashboard would be a great addition to the proposal
we should work this out for next season with analytics guild, to have it for us to monitor growth and bDAO marketing purposes

1 Like

Thanks for the revised proposal.

This one appears to be more sustainable in the long run.

1 Like

Great work guys!

I wanted to do Dutch one but I will do it later, since before that I was on holidays and occupied with other stuff.

Let’s go and spread the awareness!

A strong and a resounding YES. This is one of the best thought out proposals I have seen here yet, and also one of the closest aligned ones with the mission of ‘onboarding 1bn people into crypto’. Absolutely essential we support these initiatives. Agreed that budget on the small side - suggest to find ways to incentivize the best performing local communities further, in the future.

4 Likes

thanks for the clarification

Am excited to see this project coming up and it definitely will have a huge impact on spreading the Bankless message. However, I have a concern about the incremental award of BANK based on the number of subscribers. There are cases where channels on social media have artificially inflate number of subscribers or followers. Is there a measure in place to ensure that this will not be exploited for grants? Thanks!

2 Likes

Great work on this. Bankless to the world

1 Like