SDIP-3 Marketing Bounty Program

joyport

This looks like a great proposal. I do however disagree with the idea of having a 50-100max SQUIG value per bounty item as suggested by Greg. If the goal of the Squiggle DAO marketing team is to create outstanding work that promotes the DAO well, the value of the bounty items should be both fair and attractive to those with the ability to deliver and relative to the amount of work required to complete the bounty.

Jess, I think your two example paths look like good approaches with (2) being favourable if it means that key priorities can move forward.

I've been meaning to get in on one of the marketing committee calls to say hello and see if I can help now for a while but work keeps on getting in the way. I hope the above is helpful.

jess

joyport Ya I agree, I think bounty amounts should be set at the discretion of the marketing team.

0xgregory

joyport Do you think tweeting 4-6x is equivalent to donating a squiggle? Because that's what you're saying

NiftyFifty

Thanks for the great feedback.

I agree with Gregg and Carlos that we don't have a clear outline yet, just some examples of bounties. But we wanted to start engaging the community and gaining momentum. Perfect is the enemy of done. But also happy to wait until, as Gregg suggested, there is a DAO-level financial plan.

Also makes a ton of sense what jess is suggesting of scaling back the proposal to 10-20k. Whatever the community decides, we are totally fine with that.

Just to add a bit more color: we are very aware that $SQUIG is both precious and scarce and our goal is to balance incentivizing the community to participate and get involved while at the same time protecting and preserving the amount of $SQUIG.

In order to do that, our idea is to progressively reduce the amounts we pay. Having slightly more generous amounts now, so we reward more the early supporters. And once the DAO gets traction and notoriety (and the SQUIG gets more valuable) reduce the bounties (or require actions of a bigger value added to get a reward).

Finally, it is important to mention that we have already discussed how we will approve the bounties. The idea is to have a threshold, for bounties below that amount any team member can approve (or 2 out of 3) and for larger amounts require the bounty to be reviewed and approved by the 3 of us. This is still work in progress, but our plan is to be totally transparent and make all decisions about our process and all payments public.

joyport

0xgregory Hey Greg. Well, I guess that would depend on the influence and reach of the person tweeting? Is it DC investor or Kevin Rose tweeting the 4-6x?

My previous comment on the bounty value was an objective reflection of seeing the current google sheet that for example attributes a range of 300-400SQUIG for producing a video (subject to brief, a pretty good bounty). However, depending on the video brief (with SQUIG ~= $1) 50-100SQUIG, not so great.

NiftyFifty Thanks for the context. Love the idea of bounties reducing as $SQUIG value rises, feels nice and deflationary (if I've understood your explanation correctly?).

I'm really not looking to ruffle any feathers, so apologies if my input is unhelpful or goes against the spirit of the DAO?

0xgregory

joyport Yeah.. that's a really good point. If the assumption here is that each contribution will be measured within a range by the governing team then it makes sense to me. This just seems overly complicated for something relatively low value.

Can I make any video and get that or does it have to be 'approved'?

joyport

0xgregory Maybe It just needs an extra line in the proposal under the 'Marketing Bounty Program' section. Something along the lines of:

All final bounty values to be approved by the Marketing Governance team based on the complexity/effort required to complete.

NiftyFifty

joyport Just added the line to the spreadsheet. Thanks for the suggestion!

0xgregory

It's great to see real debate on a proposal. I hope this continues.

Some thoughts:

the committee doesn't need to request funds in advance, just approval to reward certain amounts for certain activities
disbursement should happen directly from the treasury, unless it is some kind of continuum such as a tip-bot that gets refilled each request. this also means that disbursement requires DAO proposal vote
a request for funding allocation or fund disbursement needs to be really well-defined. how much, for what, to whom.

@NiftyFifty how does the 2/3 or 3/3 voting happen?

eg.
we want:

to spend up to 20k for the contribution incentive program
5k will be ad-hoc, disbursed in max 50 per txn, the remaining 15k will be given out in 250 increments for any of the following (list of things) to
the 5k will be given in advance, the remaining 15k will go through treasury approval monthly

the month requests would look like:

250 to X for Y
250 to Z for Y
250 to G for B
250 to R for B

NiftyFifty

0xgregory Thanks for the feedback Gregg. Probably best to redo the proposal and come back with a much more detailed one in a few days.

Regarding the 2/3 - 3/3 voting, someone suggested a multisig, but if it makes logistics more complicated maybe we can do it informally on the marketing channel and publish all the allocations periodically for transparency (unless there is a better tool).

I like a lot the idea of having a tip-bot for the small bounties, it will probably make things much more agile.

Finally, I suggested having a claim tool where people can claim their $SQUIG when they see fit, instead of the Treasury having to pay for the gas of every single transaction. Just an idea to explore for the future.

alecurtu

Hey everyone.... This is perfect and all great points to be addressed before sending this proposal over to snapshot.

The idea was to get this up for discussion and use the power of the DAO and the hive mind to create a bounty program that will help shape the future of the marketing committee.

We need some assets and templates created soon to empower the members of the DAO to create content and help spread the word. The committee brought up the idea of presenting a line-by-line budget but didn't want to slow down the momentum. The team kept things vague so that the DAO can all help shape and iterate the design of this season one bounty program.

I still think that the committee should have an open-ended allocation of $SQUIG and that lowering it to 0.2%-0.5% (20k-50k) of the total $SQUIG minted will help with getting this proposed faster and give the committee a chance to demonstrate their level of experience and gain the trust of the DAO. If the committee doesn't use all the funds they can roll the remainder over into the next season, and also having a little buffer will keep the momentum going. The team can work up a more detailed game plan and get that added to the proposal so that the broader DAO members can have visibility and see what the committee has in mind for the season. (Style Guide, Website, Twitter templates, Meme Templates, Youtube Channel and all content needed to do an interviews lower thirds, title cards, one-sheets) we want to create the items to help empower each member of the DAO.

So I agree that the bounty amounts should be adjusted I think we will need to come up with a tiered system that DAO members can aim for when creating an asset/deliverable for bounty payment (A: static meme 4 $SQUIG. B: Animated gif meme 5$SQUIG C: Video meme 7$SQUIG) That tired system will have to also adjust on a regular basis (weekly, monthly, quarterly) because the SQUIG/ETH price will start to fluctuate with every contribution round (July, 8th 2021: 1 $SQUIG=0.0006944三 $1.46, €1.23, £1.06) we would also like to incentivize this first round of contributors with more $SQUIG per bounty because this inaugural team will be creating the style guides and framework for all the other members in the future.

One thing that @joyport mentioned I really do think we will need to incentivize different tiers for creators the style guide creator might need to have a bigger bounty than the meme creator and so on... I would like to build off this when creating the price sheet for each asset/deliverable.

I 100% agree on not having another multi-sig wallet with funds allocated. keeping track of the bounties and paying them out on a monthly basis or creating a system that allocates squig into an escrow and each member will have to claim the $SQUIG whenever they would like and also pay the gas to receive that $SQUIG.

The idea is to work fast but also be on-brand... it is very refreshing to be part of a team that is very passionate about getting things launched fast and building value for the DAO.

RantumBits

alecurtu I like the idea of specifying different amounts for various tasks. Getting something going quickly is important, and it may be made easier by offering bigger $SQUIG bounties now, compared to a few months down the road.

Lowering the total request to 0.5% + specifying specific amounts seems like a good plan for a new proposal.

alecurtu

0xgregory
Carlos
jess

Summary
Establish a marketing $SQUIG budget to fund initial marketing activities via bounties.

SQUIG Quantity (if any)
50,000 SQUIG

Motivation
Every great organization needs a strong marketing arm. This proposal would fund marketing activities that will help build a strong community around on-chain generative art. This includes generating content that will promote enthusiasm around collecting generative art, cultivating the growth of generative artists, and expanding the cultural importance of generative art. This proposal includes a bounty program to help empower all DAO members. This is a series of jobs that would be open to any DAO member to complete for a predetermined amount of $SQUIG. This means that $SQUIG allotted for this program would eventually make its way back to DAO members that are motivated and involved.

A vote FOR SDIP-3

50,000 $SQUIG Allocated to marketing bounties

A vote AGAINST SDIP-3

Marketing Team regroups/revises marketing bounty proposal

DETAILS

Funding for Marketing Bounty at SquiggleDAO

Proposal Information

Proposal Description:
Adding initial funds to the marketing committee bounty program for payment if a marketing bounty has been approved as completed and adhering to the requirements in the SquiggleDAO marketing bounty program. The Amount requested for this round is 0.5% of the total mint (50,000 $SQUIG) to be used as compensation for marketing bounties over the first season (Seasons last around 90 days). If the marketing committee does not use the full amount of SQUIG the remainder will be rolled over into the next season's bounty program.

Bounty Example:
Write an article or report about SquiggleDAO
-Educational Content
-Research articles or artist spotlights
-Opinion pieces or interviews
-Translate any current SquiggleDAO article to another language/or infographic
Bounty Length - Rolling
Bounty Amount - TBD $SQUIG

Marketing Bounty Program

In the spirit of transparency, the marketing team will maintain a report of all bounties completed and their associated SQUIG transfers. This report will be available to all DAO members via a new Discord channel and running Google Docs.

*All bounties are subject to change at any moment based on the value of $SQUIG.

Team Information (For Funding Marketing Bounty)

The members of the Marketing Bounty program managing these funds are:

@KCMO @alecurtu @NiftyFifty
(If any DAO members are interested please attend the marketing committee call Tuesdays at 12:30pm ET)

Skills and or previous experience in related or similar work:
Inaugural marketing committee DAO members that have a technical and creative understanding of marketing and can trust each other to work through any future barriers.

Funding Information

Amount of $SQUIG requested
0.5% of total mint (50,000 $SQUIG)
25,000 $SQUIG - Style Guide, Brand Book, Website, Social Templates, Dev Work
15,000 $SQUIG - Allocated to pay out Community Bounty
5,000 $SQUIG - Banked for partnership opportunities/co-op advertising
5,000 $SQUIG - Buffer $SQUIG to cover all overages

Where funds shall be transferred and held:
The funds will be held in the treasury and the payout allocations will run monthly for all completed and approved bounties within the 30 day period, the team will distribute the $SQUIG via disperse.app https://disperse.app/

Marketing team will also look into forking a balancer labs smart contract used by MetaFactory to also distribute the funds. https://github.com/MetaFactoryAI/robot-redemptions - This project implements a smart contract that distributes token rewards to participants throughout multiple intervals. Admins add token allocations for each user to the contract, which then become claimable in the form of ERC20 tokens, ensuring that large token distributions can remain gas efficient.

More detailed descriptions on how funds will be handled and used:

25,000 $SQUIG - Develop SqiggleDAO Brand
-Style Guide - Internal brand elements
-Brand Book - External elements for partners
-Website
-Dev Work - Build admin tools to empower management team might need more $SQUIG for this
-Social Templates
-Twitter
-YouTube
-Medium
-Discord

15,000 $SQUIG - Allocated to pay out Community Bounties
-See Marketing Bounty Program https://docs.google.com/spreadsheets/d/1Bp3cZk4YVpSMIpHToN_dx6rRK3Cvzk0SUxDucSMV39k/edit#gid=1122425562

5,000 $SQUIG - Banked for partnership opportunities/co-op advertising
-Art Gallery Co-Op
-Payment to artist
-DAO partnerships

5,000 $SQUIG - Buffer $SQUIG to cover all overages

0xgregory

You need a plan/roadmap before asking for the money to pay for it, IMHO.

The example bounties may be useful but what are they actually achieving?

example
the marketing team is responsible for driving external awareness of the DAO and it's activities

the primary goal of the DAO is to be the largest Squiggle holder and to use this portfolio to create value within the generative art space.

We will support this mission by:

promoting the dao mission, activities
being a thought leader to the outside world around chromie squiggles and generative art

We will achieve these goals by

developing a marketing plan so that other dao activities can be supported by marketing (eg. a campaign around the most recent contribution round)
publishing medium content
publishing twitter content
running online events, interviews

Budgeting
Funds are required to:

incentivise dao members to produce content
incentivise dao members to share content
produce a style guide/brand book

In this request we are asking for funds to support 90d of activities including:

medium articles (500 squig per article x estimated 10 articles) = 5,000
retweet campaign (250 squig reward randomly chosen from retweets on a weekly basis x 12 ) = 3,000
one-time distro of 1000 squig per marketing team member for previous quarterly contributions to-date = 5,000

(the style guide is a separate initiative and expensive so it should be broken into another request IMO)

-- end example

Questions/comments:

What is Community Bounty? If this is for the community team they should be requesting their own budge
There needs to be more WHY in these requests. Why do we need a style guide? What value does that create for the DAO? This doesn't need to be a perfectly answered question but it MUST be answered. There needs to be accountability to the distribution of any tokens for meaningful work.