MIP40c3-SP#: 19 Author(s): @Nadia Contributors: tags: core-unit, cu-ses-001 Status: RFC Date Applied: 2021-06-08 Date Ratified: N/A
MIP40c3-SP19 adds the budget for Core Unit GRO-001: Growth.
This budget proposal covers a total of 3 months (August, September, and October of 2021). During these three months, our focus will be on:
- We have 93 opportunities at the last stages of the Growth Process cycle. We will drive these opportunities to the next step by launching adoption campaigns with our partners.
- Institutional vaults: we will find the proper implementation with the Maker community and larger vault users.
- Dai in other Networks: Increase Dai usage in other networks like Polygon and Solana.
Growth CU is asking for a total of 937,950 DAI over three months. 437,950 DAI will cover operations, and 500,000 DAI will cover the work we’ll do with our partners in the latest stages of the Growth Cycle (adoption campaigns, educational content, etc.).
We are proposing this Core Unit Budget modification because GrowthCU requires an operating budget to fulfill its mandate.
- Progressing our pipeline. The general outline of our traditional cycle consists of the following phases: Outreach → Initial conversations → Project formalization and commitment → Integrations support → Pre-launch growth → The partner Launch → Maintenance and growth. We want to focus on the 93 opportunities in the latest stages of the Growth Process cycle during this quarter (pre-launch, partner launch, and maintenance) which requires the “integrations and marketing” budget to execute the growth plans we created with our partners.
Developing an Institutional Vaults strategy. With the feedback from Maker’s largest vault users, we want to coordinate the efforts of the DAO to find the right solution for this need and pitch to all crypto-native companies this solution.
Dai in other networks. We are having conversations with Polygon, Solana, XDai, and Ronin about the strategy to increase Dai usage. We plan to continue doing this with other networks that are relevant to the protocol.
The Growth team will consist of at least the following members during this quarter:
– Facilitator –
@Nadia -Full Time-
– Contributors –
@Jenn , for North America and strategic partnerships -Full Time-
@Matthew_Cooper , for North America -Full Time-
@Lozadaluis12 , for LatAm -Full Time-
@joce_chang , for Asia -Full Time-
@Doo_Nam for Asia -Part Time-
@Gustav_Arentoft , for Europe -Part Time-
@MarianoDP , Growth strategy -Full Time-
@nanexcool , DeFi advisor
TBD, for Europe -Full Time-
TBD, integrations -Full Time- (as the Foundation’s integrations team decided to be part of the SES CU and change their role, we need to find one resource who could help us with any technical question/advice our partners could have regarding the protocol. This person will also create technical documentation oriented to our prospect partners to interact with the protocol or Dai in other networks)
The Business Development contributors should feel persuaded toward behaviors that will support the Maker Protocol strategy. That’s why besides a base pay, each one of our BD persons will be under a compensation structure, a proactive process that forms goals around the account planning process and accounts for past performance/growth.
The compensation structure follows these rules:
- Two-quarters of goal achievement constitutes a 10% rise in base pay.
- Not meeting goals results in base pay stagnation.
- Less than 50% of goal number achieved results in 0 bonus for the quarter.
- Bonus pay is determined as a percentage of base pay and it’s relative to the goal number’s achievement.
- Bonus is capped at 100% of base pay.
To cover associated costs to legal advice and the enablement of all support applications.
Travel and partner relationships.
we need to have a presence in major events to develop our network, speak in conferences, maintain the ecosystem updated on what’s happening in the DAO, and attract more companies and projects to the protocol.
To support any contingency or opportunity that could appear, like a tier-one partner looking to execute a strategic action.
Integrations and Marketing.
When we are working with future partners, part of our job is to create a way to help that partner give more visibility to the new solution supported by the Maker Protocol. Sometimes the execution of that idea requires a budget for different purposes:
- Educational purposes: When a partner wants to explain to their user/customer base about the new product, usually this is for creating content in a particular language oriented to a defined audience.
- Marketing purposes: Budget for executing a marketing campaign to help our partner expose the usage of the new solution.
- Technical purposes: Some partners that are not part of the crypto ecosystem need specialized help to integrate the Maker protocol with their systems.
Growth CU has a multi-signature wallet to administer the funds allocated to fulfilling the mandate. The details of this multi-sig wallet are as follows:
Multi-sig Address: 0x7800C137A645c07132886539217ce192b9F0528e
Budget implementation: Manual
Payment Frequency: Transfers should be included in the first executive of the month. In the event of the first executive of the month failing to pass successfully, transfers should be included in the next available executive vote.
August - 637,900 DAI
September - 137,900 DAI
October - 162,150 DAI