MIP40c2-SP18: Add Core Unit Budget, CPM-001

MIP40c2-SP18: Add Core Unit Budget, CPM-001


MIP39c2-SP#: 18
Author: Kathleen Chu 
Contributors: @HBJ, @AdrienDLT, Francesco Alberti, Kaori Sato, @Sahabia, Jose Vicente
Status: Request For Comment
Date Applied: 2021-06-08
Date Ratified: <yyyy-mm-dd>

Sentence Summary

MIP40c3-SPX adds the budget for Core Unit CPM-001: Strategic Marcomms



The unit seeks to accelerate the growth of MakerDAO by providing a cohesive global branding with a strong focus on collaboration and coordination.

Core Unit Name

Strategic Marcomms


The budget is roughly 2.9 percent of the Maker protocol’s revenue (based on Makerburn estimate as of June), which is below the industry average of 10 percent. Together with PR communications, marketing communications function as revenue drivers.

The proposed budget is based on industry data and estimates made after consulting with experts and service providers from finance, accounting, legal, marketing, and PR. The budget consists of the following:


The Strategic Marcomms unit consists of individuals with many years of experience in marketing and PR. They are professionals who possess the know-how and in-depth knowledge of cryptocurrencies and understand the complexity of marketing in the crypto space. The estimates are within the compensation range stated in reports published by HR consulting agencies based on job levels and experience.

The table below gives an overview of the number of people who plan to join the unit and the number of people we need to hire.

  • Marketing includes contributors focusing on marketing, events, and community building.
  • PR, Communications, and Content include media outreach, PR agency management, content coordination, and written content.
  • We plan to add one social media specialist based in the U.S. and a community lead for China.
Current To hire
Marketing 2 2
Community building 2
PR, Communications & Content 3
Facilitator 1
Admin 1
Total 8 3

Marketing & PR:

This budget covers upcoming marketing campaigns, advertising, and PR agencies in locations we identify as top markets that can provide relatively high ROI. It also includes joint promotions with potential partners in major markets such as the U.S., Japan, and the EU. The budget ensures we sponsor the most significant events and host educational and exciting events for potential users.


This budget is aimed at reaching out to new audiences. It includes the initiatives listed below:

  • Ambassador program
  • Translation
  • Research
  • Community management
  • Outreach (Podcast and Clubhouse are consideration)


The Core Unit aims to set up a company in Singapore registered as a company. This budget includes expenses including entity setup, accounting, audit, website maintenance, and IT subscriptions. It also includes travel expenses for the team for speaking engagements post-COVID.

Legal & Consultation:

This budget ensures the unit has a global legal counsel on retainer, in addition to hiring counsels for crucial jurisdictions such as the U.S., Japan, and the EU. It also includes consultant fees for people, communications, and marketing.


We are not proposing any MKR compensation at this stage. We plan to follow the same formula proposed by the SES core unit at a later stage.

Categories Annual Budget (DAI) % to Total
People 903,400 22.35%
Marketing & PR 2,194,000 54.28%
Programs 314,000 7.77%
Administration 246,910 6.11%
Legal & Consultation 384,000 9.50%
Quarterly 1,010,578
Total 4,042,310
*Estimate Annual Revenue 143,000,000 (Source: Makerburn as of June) 2.8 % of Revenue

Budget Implementation

The annual budget sets the monthly cost at 336,860 DAI.
Budget implementation: Simple
Each month: 336,860 DAI
Asset type: DAI
Payment Date & Frequency: The first ten days of each month
Strategic Marcomms Multisig Wallet: 0x21401cca9b3e237e6c5de9cd227cec690d566a60

Related Documents

Core Unit MIP
Core Unit Facilitator MIP

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