For some time now a need has been recognized within the Communications and Marketing squad for a quicker turnaround surrounding opportunities. The current process of external parties creating a proposal can be intimidating and costly, especially for smaller amounts. As an added clause, DXdao is presently unable to send money to multi-sig wallets without the use of a relayer - perpetuating the need for a readily available marketing budget. When you take into account the general time-sensitivity of Communications and Marketing initiatives, the need to introduce a process becomes apparent. This proposal aims to collect feedback and eventually authorize a Communications and Marketing Squad multi-sig.
The Communications and Marketing squad multi-sig wallet is a multi-signature wallet on mainnet Ethereum that will hold a portion of funds designated for squad use. Essentially, the funding proposal for this wallet allows the squad to utilize the requested funds as it sees fit in order to operate. The initial funding proposal will account for a variety of initiatives and allocate a percentage of budget accordingly. Multi-sig signers are to remain respectful to these earmarked funds but may agree on alterations provided reasonable factors exist, such as time sensitivity. Allocations would be “reset” upon each subsequent funding proposal.
Branding and design expenses - Up to $25,000
These include any initiatives directly related to the brand and identity of DXdao or any of its products. It also includes design related expenses until DXdao onboards a design focused contributor, which would remove these costs.
- Landing pages
- Product videos
- Brand exploration and refinements
- Collateral for pull strategy
- Social media visuals
- Announcement visuals
- Any other design requirements related to ongoing marketing strategy
Events and public face - Up to $10,000
These include any costs associated with DXdao or its products having a presence at events or live initiatives that give direct exposure. This does NOT include covering the costs of individual contributor attendance, this initiative is separate and can be found here.
- ETH events
- Articles and publications
Marketing and community expenses - Up to $25,000
These expenses relate to public outreach surrounding launches, releases, or other time sensitive initiatives we want to reach as many people as feasible. This can also include regular marketing expenses without time constraints, and initiatives with a community focus.
- Community events/incentives
- Influencer advertisement
- Push strategy
- Global marketing outreach
- Targeted marketing outreach
- Pull strategy expenses
- Social media
- X-community promotions
- PR agency (P)
- Advertising agency (P)
Squad operation expenses - Up to $1,000
This would be utilized in the event that the squad has increased in size as such that a suite of tools is necessary to coordinate. It is not expected to be utilized right off the bat, especially not for smaller expenses considering mainnet gas costs.
- Community tools
Market research - Up to $15,000
These expenses surround any research concerning the users of our products, our investors, research and surveys. A similar roll-out of utilization is expected to the above.
- Customer research
- Market research teams
- Data analysis
Contingency - Up to $5,000
This allocation accounts for variables not reasonably identifiable without the benefit of hindsight. This can be used to supplement any category provided reasonable circumstances require additional funds.
Context for the initial funding
Since marketing expenditure is incredibly low currently, it is not expected that these numbers are utilized immediately. It is expected that the squad rolls into this initial allocation within the first few months of use, and prepares a consistent budget to be requested for the following funding proposal. Regardless of this, there are some potential short term needs (1-4 weeks) of the Communications and Marketing squad multi-sig. These include:
- Omen landing page - ~$20,000 (Pre-negotiation, some of payment could be in OMN token)
- Omen marketing video - $12,020 (Bypassing the multi-sig due to time constraint, will instead be requested from the DAO directly).
- Swapr landing page - $8,500
- DXdao branding work and landing page - $10,000 ($5,000 already paid by the DAO).
- Week in Ethereum advertisement - $345
- Bigcoin Vietnam - Up to $10,000.
- XZcrypto China - Up to $8,000
- Influencer campaign - Up to $5,000
This multi-sig will be made available to Communications and Marketing squad members or supports with a full-time engagement who hold at least 0.5% REP. No transaction will come as a surprise; discussions, decisions, and the signing process will be held in the usual squad channels. This process will require 3/5 signers.
Currently eligible include (but isn’t limited to):
- Keenan Luke
- Chris P
There are other contributors who fit the profile that have not yet been invited in an effort to avoid detracting from busy schedules. This group will be satisfactory for the time being and can be expanded upon or altered as the squad grows into the future.
After this forum post has been discussed, a proposal will be made requesting $75,000 to the Communications and Marketing multi-sig. This was deemed to be an appropriate amount to kickstart the initiative and should cover an initial batch of costs. Looking to the future, Keenan Luke will coordinate with the squad to develop a Communications and Marketing budget based on DXdao expenditure. This should be requested as a quarterly top-up. (EG. With a hypothetical yearly budget of $1m USD, a quarterly request to bring the multi-sig balance to $250k USD will be made). This of course will be another separate proposal, while this one focuses solely on the establishment of the multi-sig.
Please, if you have any feedback on this initiative let us know here. Passage of the initial smaller funding would be considered an authorization of multi-sig operation. A proposal failure would be interpreted as a severe unaddressed variable and a reassessment of the multi-sig before moving forward with another proposal.