Proposal: Community-Managed Marketing Budget

fool · 2023-09-29T01:07:53+02:00

Objective: Allocate a specific marketing budget for the community, ensuring it's controlled and disbursed by active community members. Introduce more commun...

fool

Objective:

Allocate a specific marketing budget for the community, ensuring it's controlled and disbursed by active community members.
Introduce more community-driven marketing initiatives to improve protocol visibility and adoption.
Ensure better security and transparency through multi-signature wallets and collaborative decision-making.

Details of the Proposal:

Allocate Marketing Budget - Set aside funds (amount decided by community) from the treasury for community-led marketing initiatives. These funds should be deposited in a multi-signature wallet to ensure secure and consensus-based disbursement.
Establish a Marketing SubDAO - Form a subDAO comprising community members who have a keen interest in marketing. This subDAO will be responsible for curating, discussing, and green-lighting various marketing tasks and initiatives over the year.
Marketing Tasks & Initiatives - Commission specific, actionable tasks such as Twitter threads, in-depth tech summaries, monthly governance metrics, and other marketing collateral. SubDAO reviews and approves submissions, releasing funds to contributors who deliver quality work.
Year-end Assessment - At the end of the fiscal year, all unused marketing funds should be returned to the primary DAO treasury.

Rationale for the Proposal:

Addressing Historical Shortcomings - A noticeable challenge has been the limited involvement of key developers and top holders in marketing endeavors. Their relative absence has created a gap in effective marketing, which has been a significant pain point. This proposal fills that void, leveraging the broader community's energy and insights to drive marketing, thus ensuring continuous and effective promotional efforts.
Augmenting Community Involvement - By allocating funds specifically for community-driven marketing, we foster a more inclusive and active community that has a tangible stake in the growth of the Synapse Protocol.
Enhanced Security & Transparency - A multi-signature wallet, overseen by dedicated community members, ensures that funds are disbursed judiciously and transparently.
Harnessing Diverse Expertise - Different community members bring unique marketing insights and expertise. By enabling them to lead and contribute, we ensure a diverse array of marketing initiatives that cater to various audience segments.
Efficient Budget Utilization - With a clear return mechanism for unused funds, we encourage the efficient and judicious use of the allocated budget, ensuring maximum ROI for every marketing dollar spent.

Conclusion:

The Synapse Protocol's growth is deeply intertwined with its community's active participation. By allocating a marketing budget specifically for community-led initiatives, we empower our members to take a front-row seat in the protocol's growth narrative. This proposal is a testament to the DAO's commitment to inclusivity, transparency, and efficient growth, leveraging the collective strength of the Synapse community.

Special thanks to Gravity and Bottomseller for the basis of these ideas! Please share your thoughts and vote.

Walther

We can use this allocation for a more diverse marketing approach. From crypto websites to influencers on social media. However it's important to have a sustainable pitch so it is very important that we clear out the use case of SYN first.

jackthestripper

tbh i don't think marketing will work at this point. Not when syn already has the rep of a constantly shilled coin, but the price action of a dead shitcoin. Need big green dildos first

skya

world need to know SYN more!

Gravity

Fantastic proposal!
I think we should also discuss possible mechanisms to retroactively reward key community members of the Marketing subDAO for their completed work which would also have the added affect of incentivising honesty and robustness in the curation and management of future marketing initiatives as well, thus hopefully increasing the efficiency and the effectiveness of the subDAO.
One way this may be achieved is if this proposal passes and the marketing initiative successful, in a proposal returning to Governance for new funds for the Marketing budget, the subDAO could also request a separate allocation of x amount to retroactively reward work done by key members/& signers from the subDAO in the previous campaign.
(The success of the previous campaign would be determined by Synapse DAO through the passing of the proposal that would renew the marketing budget for the next period + rewards for previous work by key members).

0xbottomseller

Very much in support of this proposal. Leaning towards voting for 50k - rationale being that it is roughly what would cost to hire someone full time to do BASIC marketing. Would be in favour of adding more to the budget if pre-defined deliverable are achieved before end of term, and community is happy with the results.

Details and Rationale all make sense. What I see missing (stuff that could be added to make it more convincing for voters before taking this to Snapshot):

Some clear deliverables with loose timelines
Some growth metrics to be achieved that justify the expenditure
some information about the on-chain/ off-chain tools/teams we could use for this and justification of how they align with our goals + some history of what previous projects were able to leverage them for them
Details about the multisig, details of procedure for the election of qualified signers, measures to make sure signers can be held liable to their duties
details about ways/tools we could employ to track contributions of individuals comprising of the subDAO

Would like to add that "At the end of the fiscal year, all unused marketing funds should be returned to the primary DAO treasury" increases voter confidence and allows this to be an experiment we can iterate on

Taking into account Gravity the comment here - I think there should be justified reasonable compensation for the subDAO that works on this, something that should be voted on post achieving deliverables.

Walther

I support this active construction. With one FTE that will actively seek out ways to get attention to Synapse. A person with one foot in the community, that knows the shitposts, the culture. and the other foot in the team comms. With a structured approach in handling all communications (Twitter, discord, TG) in a playfull, interactive way and handling what syn needs for exposure. Also structured of course. With a plan. To seek out businesses to educate/collaborate on the interchain thesis. Build up a portfolio of media outlets(websites, you tubers, influencers) that can be sold on the idea of an interchain future and help spread the word when the time is there for mass marketing. One that can see past the bullshit proposals and crypto posers and build meaningful collabs with people/institutions that are in it for the tech.