Season 2 Proposal

Title: Season 2 Funding Proposal
Authors: Defidanny.nft
Team: DAO Council
Date Created: 31st January 2022
Date Posted: 31st January 2022

Summary

  • The Total Budget allocated for Season 2 is 12 ETH and 2,200,000 London

  • Update to design presence and presentation of the Organization

    • Includes update to the LondonDAO website, logos, and marketing materials associated with the DAO.
  • Reformation of the Grant process and funding model.

    • Will include implementation of a tiered “Grant” system,
    • Different levels of compensation will be allocated based on merit, energy and funds required, and perceived benefit to the DAO.
  • The DAO Will be allocating a portion of funds specifically to Revenue Generation.

  • Transition to Layer 2 funding compensation process.

    • This applies to payments made by the organization to both internal and external contributors.

Background

Season 1 has provided a good base of data for the DAO to use going into Season 2. Analysis of the funding model, twitter statistics, treasury balance, and overall design presence of the DAO has yielded results that we can use to iterate on our current processes. Following the precedent set by the Season 1 funding model, the updates to the DAOs processes are aligned with our goals for Season 2 and described in further detail below.

Grants

The DAO will implement a funding system consisting of 3 Tiers. These tiers are ranked by the effort and capital required, their perceived contribution to the growth of the DAO, the growth of our community of creatives, and the growth of the NFT space.

Tier 1 (Community Contribution Level)

  • This tier is associated with the compensation awarded for the completion of smaller community tasks that help the DAO achieve its goals for the Season.
  • Details of tasks and compensation will be posted on the Bounty Board in the LondonDAO forum.
  • 150,000 London has been allocated toward this tier.

Tier 2 (Organizational Contribution Level)

  • The Compensation allocated toward this tier is divided amongst the Council and any outside talent the DAO contracts to complete tasks that align with its growth. There are different ratios for Council and outside compensation to align with the perceived difference in incentives. These tasks will be posted in the Bounty Board on the LondonDAO forum.
  • 0.5 ETH and 800,000 London is allocated towards Council contribution
  • 1.5 ETH and 150,000 London is allocated towards possible outside talent the DAO may reward for completion of items prioritized by the Council.
  • Total allocation: 2.5 ETH and 950,000 London

Tier 3 (Incubator Level)

  • This tier is associated with tasks and projects that require the highest level of capital, time, and energy from the DAO. Most of the grants given last season will fit into this tier going forward. (I.e. Crypto-Gucci Content Sponsorship). The Council will perform “Sanity-Checks” on the grants associated with this tier.
  • 7.5 ETH and 750,000 London has been allocated toward this tier.

Revenue Generation

This season, The DAO will allocate a certain amount of funds towards tasks that are specifically oriented towards generating revenue. A focus will be made on using funds to drive traffic on the LondonGIFT and EMBERs collections on Opensea.

  • 2.5 ETH and 270,000 London has been allocated for these purposes.

Design Update

An update to the design elements of the DAO will be high priority during Season 2.

  • These elements include:
    • The LondonDAO website (London V2)
    • The LondonDAO token logo
    • The method in which we interact and propel the artistic vision and narrative of the DAO
      • Tasks related to these elements will flow into the tier system to be posted on discourse.
      • These tasks may be completed by outside talent if they have the skills necessary to do so.
  • Success of task completion and compensation will be discussed by the LondonDAO Council members and the contributing Party

Social Media Narrative

  • a team of @SpaceFE and @DefiDannynft will be responsible for the development of a more aggressive social media strategy and community outreach program based on the data gathered during Season 1 and input from fellow Council members.
  • A portion of the capital set aside for revenue generation may be used in the social media plan to assist in driving traffic to the Opensea collections referred to earlier.

Layer 2 Transition

Ethereum gas fees are a known issue and in order to scale, the LondonDAO needs to find a solution to the issue. This document proposes that the LondonDAO migrate to and complete DAO-related transactions on the Layer 2 solution, Polygon. This transition will allow the DAO to award compensation as it grows, while protecting the treasury from Ethereum gas fees.

NEXT STEPS

Unused amounts from any tier or allocation will be pooled together to either be rolled forward or provide funding to other areas of organizational need, as decided by the Council.

Season 2 will commence and then conclude before 1st May 2022.

Before the end of Season 2, the process used above will be refined and built upon using knowledge acquired during the Season. This information will be used to form the Season 3 Proposal.