Abstract/Summary
This proposal seeks to renew and expand the ShapeShift DAO’s MKBD Workstream for the next six months, starting February 1, 2024. This proposal will:
- Extend the existing team for the next 6-month term
- Incorporate the FKA “Globalization” workstream into MKBD
- Update workstream responsibilities and KPIs
Essential tasks under the new MKBD team include product copywriting, co-marketing, partnership management, grants, external sales, and general marketing strategy and execution across a global landscape. This approach will save the DAO $93,525 over six months while utilizing existing top talent more efficiently for new market expansion and fiscally and strategically optimizing resource usage.
The most TLDR TLDR:
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Integrate “Globalization” into the MKBD team.
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Focus: Product copywriting, co-marketing, partnership management, grants, sales, and global strategy.
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Enhanced KPIs reflect new responsibilities.
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Financials:
- Net savings: $93,525 over six months.
- MKBD monthly spend increase: $2,563 (Total increase: $15,375 over six months).
- Monthly DAO spending decrease: $15,588 per month.
- Net total spend decrease: 40.50%.
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Budget Allocation:
- Fixed labor costs increase: 10.88%.
- Discontinuation of “Globalization Workstream” (savings: $93,525 over six months).
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Strategic Goals & KPIs:
- Enhance brand and customer base through partnerships and user engagement.
- Key targets: $150M trade volume monthly, 30% improvement in top-of-funnel engagement.
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Key Deliverables:
- Partnership management, user acquisition, content strategy, grants, and targeted international outreach.
This proposal adopts SCP-92 Definition of Workstream Leader.
Motivation
The Marketing workstream has shown what it can creatively accomplish with a minimal marketing budget for the past two terms (one year). With the idea of continuing to operate in a lean, mean, and creative spirit, the MKBD team can provide the DAO with more targeted value and efficiency.
- MKBD achieved most of our goals while adding and successfully executing new responsibilities
- Total prior labor, marketing, and overhead spending was $154,500 over six months, with only a $20,795 increase in approved spending compared to the prior approved term ($133,705 approved spend). This proposal increases the monthly MKBD spend by $2,563 (a $15,375 6-month increase) while decreasing DAO spend by $15,588 per month (saving $93,525 over six months).
- This proposal eliminates the need for the DAO to fund the Globalization workstream, as some of its existing high-performing members will be wrapped under MKBD. This effectively saves $93,525 over the next six months一reducing runway burn by $15,588 per month while aligning DAO global and contributors under one leader, increasing the velocity, quality, scope, and accuracy of activations, messaging, and partnerships to align better with Product and Engineering.
- MKBD will continue to pursue limited grant opportunities as we saw success in narrowing the scope of grants to a limited set that directly supported the Product and Marketing Workstream roadmaps. Renewing this proposal will allow the existing team to lean into further refining goals and actions based on past learnings.
- The DAO will still retain a reasonably globally translated and accessible application, and there will be no unreasonable downtime in keeping the DAO’s products and messaging accessible to users around the globe.
Specification
Budget
The details below expand upon the budget spreadsheet:
https://docs.google.com/spreadsheets/d/1QoQKcd_gBHiCk9Qrg-7FDlSXC92mfg5D72Rc_Ui5iYs/edit?usp=sharing
TLDR:
- Total Fixed labor + tooling costs: 10.88% increase ($15,375 over six months) from SCP-144
- Eliminates the need to fund the FKA “Globalization Workstream” ($93,525 saved over six months) => net spending decrease of 40.50% between the two workstreams.
- (see: Green line vs. Yellow Line in image below)
Recurring costs
Labor
The marketing workstream lead (Hpayne) fully adopts SCP-92 in this proposal. All newly added contributors to the workstream will tasked with developing their own PIP (Personal Improvement Plan) to help onboard, hold accountable, and grow the team foundationally as the team merges.
These PIPs will accompany a weekly update that is candid, honest, and forward-looking with the spirit of seeking improvement, efficiency, and balance. It will clearly outline “why ‘I’ (the contributor) am awesome” and allow the workstream leader to clearly explain what individual contributors expect and how they can best improve to hit goals and expectations while managing time and resources.
Should the PIP be unsatisfactorily followed or executed, the contributor will be informed explicitly of the areas of improvement and given specific steps to improve. If the contributor is not performing satisfactorily, the workstream lead reserves the right to utilize SCP-92 and eliminate the position.
As it stands, the budget includes four full-time contributors:
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Hpayne (Workstream Lead)
- Paid $72,000 ($60,000 USDC and $12,000 FOX over six months)
- All FOX is locked for 18 months
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Atlan (Designer and Graphics)
- Paid $9,000 ($6,000 USDC and $3,000 FOX over six months)
- No FOX is locked
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TheSmith (International User Acquisition)
- Paid $18,000 ($6,000 USDC and $12,000 FOX over six months)
- No FOX is locked
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Vlad (Growth Engagement Lead)
- Paid $18,000 ($6,000 USDC and $12,000 FOX over six months)
- No FOX is locked
Additionally, there are two part-time contributors:
- Twells (Marketing Communications Lead)
- Paid $26,250 ($24,000 USDC and $2,250 FOX over six months)
- No FOX is locked
- Firebomb (International UX and Translations Lead)
- Paid $13,500 ($6,000 USDC and $7500 FOX over six months)
- No FOX is locked
Any contributor reserves the right to petition for a salary in FOX, locked varieties thereof, and USDC. USDC increases are based on merit, execution, and deliverables outlined in each contributor’s PIP and activity within the workstream goals.
Tooling
TLDR: This budget seeks approval for the commitment of $12,000 USDC and $22,500 FOX for non-recurring costs to be spent judiciously at the workstream’s discretion, should it be required.
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The budget contains a line item for a monthly $2,000 USDC and $3,750 of FOX for bounties. These funds will be used for discretionary and unforeseen spending for activations such as: bounties for translations, extra graphic design, influencers, and other marketing initiatives.
This budgetary item is provisional, and any unspent funds will be rolled over into the next proposal cycle to mitigate future budgetary asks.
Any unused funds from any budget category will be kept in the workstream Colony and rolled over into the following proposal.
A separate governance proposal shall be raised if the Marketing Workstream requires more funds.
Deliverables
Goals
TLDR: MKBD KPIs were created with the spirit and intention of alignment and direct support of the Product workstream’s roadmap and goals. Auxiliary activations such as grants, social media, and content deliverables are maintained to ensure the holistic narrative support around the ShapeShift DAO product suite with the overarching goal of working alongside the Product Workstream to drive $200,000 monthly revenue through the mix outlined below.
KPIs
Core KPI TLDR:
The MKBD Workstream will focus on KPIs that directly support the Product and Engineering roadmap and continue to build and proliferate the ShapeShift brand while driving meaningful revenue back to the DAO.
Strategic Marketing Goals Proposal for ShapeShift
Objective: To enhance brand presence, customer base, and overall performance through targeted marketing initiatives aligned with key performance indicators.
I. Expand and Deepen Strategic Partnerships:
- Goal: Deeply collaborate with nine key industry players (MetaMask, OnRamper, Ledger, CoWSwap, THORChain, Arbitrum, Gnosis chain, Optimism, LiFi) to boost brand exposure and optimize service usage inside app.shapeshift.com.
- Stretch: Additional four partners to consider: Eigenlayer, Maya Protocol, xDeFi, Coinbase, Keplr, or additional as deemed appropriate.
- KPI Measurement: Success of this goal would mean each partner has done three of the four objectives:
- Activated and coordinated with ShapeShift Marketing messaging
- Collaborated with the Product Workstream to give feedback on app feature implementation
- Has a POC the DAO can tap reliably (within one week) for answers and feedback on app
- Collaborated with BD team and passed to appropriate workstream (Tokenomics, engineering, etc) for further nurturing
II. Boost Transacting User Acquisition:
- Goal: Acquire new mid- to high-value customers who individually trade $3,500 - $5,000 per month on average within the next six months—northstar goal of $150MM monthly volume through the swapper.
- KPI Measurement: Daily Active Users (DAU) / Weekly Active Users (WAU) / Monthly Active Users (MAU).
III. Boost User Acquisition:
- Goal: Acquire new customers who connect a wallet to app.shapeshift.com. Failure: 60,000 new connections, success: 80,000 new connections, growth: 100,0000 new connections
- KPI Measurement: Monthly sessions, monthly visitors.
IV. Increase Customer Engagement:
- Goal: Enhance customer engagement by working alongside the Product workstream to reduce churn and increase on-chain interactions in-app.
- KPI Measurement: Correlation Analysis & Conversion Funnel Analysis.
V. Optimize Content Impact:
- Goal: Improve top-of-funnel engagement by 30% and inbound traffic by 50% in the next six months.
- KPI Measurement: Growth Rate of Unique On-Chain Addresses & impressions per month via X, Medium, PUSH, Discord & Blaze
VI. Engage new International Community:
- Goal: Engage and activate with the Indian community to foster, activate, and convert potential customers into ShapeShift community members and dedicated power users.
- KPI Measurement: Onchain interactions and conversions from mixpanel, UTM tracking, and depth of engagement on social channels.
VII. Engage with grant ecosystems
- Goal: Engage with at least two top-identified crypto ecosystems or partners to research, develop, manage, and secure two grants totaling at least $50,000 of vested and unvested tokens.
- Stretch: Engage with four crypto ecosystems partners to secure $100,000 in funding
- KPI Measurement: Onchain interactions with DAO wallets.
Drawbacks
Marketing labor and spending has the potential to be the most elusive to quantify and qualify within the DAO’s budget, which is why we outlined our goals, spending, and reporting metrics while keeping in mind brevity. Any aspect of these goals, metrics, and activations that do not seem appropriate to serve the needs and goals of the DAO or support the Product and Engineering Workstreams effort should be questioned.
Benefits
Fundamentally, ShapeShift delivers a product to increase ease and capital efficiency as the industry moves towards a multichain, multi-wallet, multiprotocol universe. The MKBD effort markets, grows, and sells the ShapeShift product while retaining, strengthening, and enhancing the voice and brand image and driving value through the product. Marketing and Business Development exists to scale and proliferate the ShapeShift product while creating pockets of power users and community members. The goals and tasks listed above will be delivered and likely added on to as the term progresses.
Vote
For - Formalizes the community is “for” the details outlined in this proposal
For (with changes) - Formalizes the community is “for” the details outlined in the proposal with SPECIFIC changes outlined below
Against - Formalizes the community is “against” the proposal
