With a new concentration on marketing and more lax sales tactics, the team and support personnel are looking to widen the scope of projects that we are willing to work with as well as widening the scope of services provided. This new and improved way of approaching third parties will net us the treasury funding needed to continue our progress as well as helping secure our future.
Governor DAO is a fair launch project. No tokens were sold, and as a result, the team and community have devised numerous creative mechanisms to stretch treasury runway from the getgo. Unfortunately, unforeseen challenges and overall shifts in market sentiment have led to much lower realized revenue versus our forecasts.
Regardless, everyone here understands the importance of what Governor DAO has built and the benefits we unlock to the broader web3 space as a whole. Ramping up the GAMB program and onboarding additional talent in marketing and business development will help accelerate this adoption. But hiring into a dwindling treasury requires some changes to budgeting for everything to run smoothly and everyone to get paid at the end of the day.
To address these competing factors, core team has internally agreed upon 50% paycuts in March. At the end of the day, everyone is in agreement that we need to do everything we can to make Governor DAO a successfull project with widespread adoption. This has required substantial sacrifices – and will continue to call for more – and this is something the core team has knowingly signed on for. This decision will extend runway as well as enable some wiggle room for our new marketing guys – who have worked for free for six weeks – to be compensated for the immense value they are unlocked for the project.
We understand the important of keeping the lights on and while we are allocating a % of effort to ongoing development work the focus moving forward will be BizDev and providing services under GAAS. There has been a heavy focus on pitching the PoE but the Govornance-as-a-Service potentially covers a whole array of services the core team can provide across projects which has the potential to bring in a number of revenue streams for basic business as usual (BAU) activities which could bandaid the treasury situation.
The marketing team is building up momentum with a number of leads explored with a whole array of meetings therefore the BizDev area is building out at a steady and progressive pace. The devs are following on multiple leads also. The team has applied for an exhaustive number of grants for POE and are additionally exploring DAO Governance for funding in several other protocols as well.
Basic Income MVP
Several contacts have suggested Governor DAO explore Universal Basic Income, as Proof-of-Existence perfectly protects against exploitation by end users. In response, the team has developed a Basic Income MVP, where POE holders can receive a stream of “UBI” tokens indefinitely.
Our intention is to pitch this product to larger ecosystems that have the potential to drive the economic incentive of a basic income (in other words, ensuring that the income received has >0 value).
The contract is live on Rinkeby. If you are a current POE holder, you can interact with the contract directly to enroll your wallet. Simply execute the “claim” function to enroll your address. Then continue to call that function as often as you like. Every enrolled address receives BasicIncome token streamed to their wallet indefinitely.
Note that the above contract is only for testing purposes, and these tokens have no monetary value.
Message From Jeff Regarding PoE + UBI
Jeff took some time to put together a PoE explainer video as well as a basic explanation of what a low-level “UBI” contract integration would look like for PoE holders to claim from.
Check out the Loom HERE
Directives In progress:
Formalizing GaaS Costs
In the past, Governor DAO has operated on commission: projects pay for engagement with Governor DAO according to their own sales that GDAO helps to drive. When this goes well, it’s great, but it leaves too much to uncertainty and also eliminates the ability for the team member to engage with some budding, energetic projects that may not have the means or desires to sell tokenized products immediately.
Many of our services are lightweight and can be offered at a high throughput. By offering projects formalized rates for support in Proof-of-Existence deployment, governance consulting, contract deployments, and so on, we can more effectively close deals and drive revenue back through the ecosystem.
Misc. Business Development
Per the messaging above, the core team is looking to dedicate maximum resources towards business development. Our core offerings are live and battle tested. This is a shift in priorities we’ve agreed upon earlier this quarter. It means a high volume approach to:
- Reachout on social media to pertinent project leadership.
- Grants applications.
- Community governance activity in third party protocols.
- Direct contacts through Discord/Telegram, email, LinkedIn.
The team has collectively reached out to roughly 200 potential partners in the past two months. From there, several dozen introduction calls and sessions have been coordinated. We have been highly successful in establishing communications, and a number are continuing to progress through the sales funnel (information to be shared as appropriate). The work outlined above will help to drive a larger percentage of those communications towards productive and lucrative outcomes.
Everyone in our community understands Proof-of-Existence. It’s a dead easy sell – one Hard Rock Nick cameo is sufficient. The team is interested in working with the community to establish an outreach program alongside the building BizDev framework outlined above. This will give users the opportunity to earn revenue share for their ability to connect the team to POE and GaaS users whenever those deals close.
It has already been two weeks since we started this program and we are establishing some momentum. The focus over the next few weeks is to put an emphasis on outreach and producing material for ourselves and the community to have continued success at communicating what we do in new and creative ways. We have made some connections already and are able to cover more ground as we have strength in numbers. As we progress further into our roles we will continue to hone in on our sales, marketing and business development skills. It has been an honor and a privilege to work alongside the core team and the GAMB’s thus far and we are excited to see what we can accomplish for our community in the weeks and months to come!
From your current Governor working group:
@Blake4Liberty, @TreeLyfe, @ETHLDGR, @netminer, @100%swag, @gwetmore
- GAMB’s Inauguration Twitter Space @ETHLDGR, @B4L
- GaaS Onboarding Template @ETHLDGR
- Final Edits and Sharing of Quick Pitch Documents @B4L
- Implemented Kanban Model to Trello, updated Calendar @Netminer
- KTLO Tasks @ALL GAMB’s
- Sybil Resistance Article, adding GAMB’s Wiki to GDAO Docs Page @Treelyfe
- GAMB’s Sybil Resistance Twitter Space March 8th @Treelyfe, @Netminer
- Finalize new GDAO Discord Server @100%Swag, @B4L, @Netminer
- Continued Engagement with possible leads @GAMB’s
Thanks for your patience loyal community and look forward to providing more updates in the near future.