[The Rug] Season 9 Funding Proposal

Project Champions: Frank America, Allyn Bryce, Perchy, Redemption Fox
Purpose: For-profit
Affiliation: Writers Guild, AV Guild
Authors: Frank America, Allyn Bryce, Redemption Fox
Date created: 7/21/2023
Date posted: 7/22/2023
Funds requested: 1,370,000 BANK
Project wallet(s): 0xA4C7Aca8D49226355c5543a28c3DE0573F66494a
Own subDAO/Discord server: Discord

Table of Contents



The Rug is a crypto comedy journalism outfit shipping the best in satire news related to web3. We’re a media property spun out of BanklessDAO and composed of (mostly) BanklessDAO members. We exist to help the industry not take itself so seriously.


The Rug to date has shipped 60+ satirical news articles on mirror. We publish every Friday and bring the world a unique take on Web3. Take a moment to scroll our efforts. This season we’ve redirected more energy to our Paragraph newsletter as well, porting our mirror subs (like you can do in web3) and lining them up as subscribers on Paragraph. If you haven’t read a newsletter, check one or two of them out. We ship twice a month. Now they boast premium content only available to our ~600 subscribers.

Three jokes a week on twitter during the bear has pushed us even closer to our goal of 5K subs, currently clocking in at 4,669 (meme-number ftw).

S8 saw The Rug onboard a new designer and a new writer, who penned these jokes:

Our team is growing and we’re pleased with it. We’ve just hit 71 discord members, most of whom just enjoy The Rug Lounge, and are happy to be a part of The Rug Crew. Anyone who subs our newsletter is in the club, so you should too. We decided to sunset our podcast (after shipping 12 hilarious episodes), and instead focus on new types of audio content such as the SBF Defense Attorney, as well as concentrating efforts on shipping our bi–monthly newsletter and our monthly flagship NFT. We’re happy to announce we’ve completed two six-issue volumes of our flagship NFT, which can be collected in our bespoke marketplace, market.therugnews.com.

The cornerstone of The Rug is repeatedly firing content 3X a week boasting fresh satirical takes on the crypto world. In that regard, we’ve also expanded our social media imprint to include more active engagement on lens (in the spirit of decentralized media), a new warpcaster site, and regrettably the meta-owned Threads, which just snagged a follow from HQ.

When asked what we did with the DAO we were happy to respond, “Price prognostications, selfie-help therapy, decentralized weather forecasting, and other less notable satirical fodder.”

Pleased to announce our Paragraph has reached nearly 600 subscribers, and our Twitter is honing in on that 5K subs, in a bear market to boot! We envision over 2.5K Rug Crew newsletter subs, and 15K Twitter followers as the bull rears its beautiful horns. As with last season we are committed to return 10% of all sales to BanklessVault.eth at the end of S. Check out our stats, we update them weekly.

S8 Stats: [The Rug] S5-S8 Influencer Stats and KPIs


We have continued to ship hilarious week-daily content consistently season 8 to date.

  • Weekly hilarious article (1-2) on Mirror
  • Approaching 5K followers on Twitter
  • Experimenting with additional Web3-centric publishing platforms (Warpcast)
  • 500+ Followers on Lenster
  • Monthly newsletter x2 on Paragraph
  • Added premium content offerings to our newsletter including monthly mintable badges
  • 500+ Newsletter subscribers
  • 50 articles collected on OP (Earning .1 ETH) (600+ articles to date since S5)
  • Onboarded new staff designer
  • Onboarded new staff writer


Funding Requested for S9: 1,370,000 BANK = 1,720,000 (S9 budget forecast) - 350,000 (est. carryover from S8)

Project and Compensation Breakdown

See budget link here: [The Rug] Season 9 Projected Budget

All assignments and payouts are tethered to tasks and bounties submitted weekly and accounted for through DeWork.


  • 300 Collect NFTs on Optimism (.002 ETH x 300 = .6 ETH)
  • 150 Collected NFTs on Mainnet (.0069 x 150 = 1.035 ETH)
  • +5K Followers on Twitter
  • +1K Followers on Lens

S8 Stats: [The Rug] S5-S8 Influencer Stats and KPIs


  • 300 Collect NFTs on Optimism (.002 ETH x 300 = .6 ETH)
  • 100 Collected NFTs on Mainnet (.0069 x 100 = .69 ETH)
  • S8 end + 10% Followers on Twitter
  • S8 end + 10% Followers on Lens


We were self-funded from S1-S4, and aim to reach full self-sustainability by the next bull market. The Rug will continue to return 10% of seasonal profits (includes articles and NFTs) back to the Treasury


The Rug is a media property spun out of BanklessDAO. An attribution and link to BanklessDAO’s bankless.community page is at the bottom of TheRugNews.com.


For all project links (Newsletter, Mirror, Twitter, etc.):


Do you support The Rug’s Season 9 budget proposal?

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0 voters

Nice job guys. DM us please if you want the Spanish team go get on board.
Also we are very happy, and i love reading all that you make haha.


Thanks @Liquidiot

Can you please help us understand the BANK/view from last 3 months?

1 Like

Not quite sure what you mean.

Number of views divided by total BANK allocated

Number of views on what?

on the content that this project produces

Our content shows up across multiple platforms including Twitter, Lenster, Warpcast, Paragraph, Mirror, YouTube, Lenstube, Spotify, Fountain, etc.

It would be quite difficult to aggregate all views across all platforms and lump it into one equally weighted number, especially given the tools available for analytics on some of the newer platforms.

Also, views/BANK was not one of our KPIs.

I can very back to you with some specifics such as newsletter open rate and engagement on twitter if that would suffice?