What is proposed?
The funding of Growth Working Group for 3 months ending on August 16, 2021
What is the core problem(s) this proposal wants to solve?
- ARCx is rightly tied up in technical/formal v3 launch, but there is foundational work to lay in cementing ARCx brand and securing partnerships to amplify this launch
- ARCx has many opportunities for new DeFi partnerships (beyond collateralizing untapped assets)
- ARCx is maturing its product-market fit, where growth/marketing is an equal weighted component to secure product success (see AMMs with Bancor vs Uniswap)
- DeFi crypto moves fast and many small- or medium-sized growth initiatives that seem insignificant, provide exponential dividends for early involvement; ARCx needs a small, dynamic team to address and grow in response to these fast-moving opportunities
Why is this worth addressing today? This is important to address today because:
- ARCx v3 ‘Sapphire’ is imminent
- ARCx ‘DeFi passport’ is novel and should become a staple of DeFi lending and/or risk-adjustment
- ARCx unique lending collateral opportunities are not enough to solely rely on for organic growth
How will this proposal address it?
- Product marketing -
- viral (referral, tags, contests)
- Acquisition of new users, hodlers, and DAO members/voters
- Conversions (social impression → user) and/or organic growth
- Defi partnerships (co-marketing, technical integrations)
- Weekly meetings, continuous task tracking, and semi-weekly progress checkpoints
What impact will this project have?
- ARCx official and non-official social presence
- number of impressions, mentions
- Multi-platform presence (twitter, youtube, tiktok)
- Assets-under-management (AUM)
- Unique, governance-involved hodlers of ARCx DAO token
- Symbiotic partnerships with other DeFi projects/wallets/DAOs
- Additional key-performance-indicators (KPIs) to consider:
- ‘Customer’ acquisition cost (CAC)
- Lifetime value (LTV)
- Average C-value of new or aggregate users of ARCx lending
- DEX liquidity
- CEX listings
- Non-Incentivized retention
Working Group Committee
- Co-Lead: monadnoc (Jordan): @monadnoc
- Co-Lead: kengee: @kengee
- Additional co-lead or primary lead (with marketing credentials/track-record) please contact @mondanoc before May 9, 2021
- $50,000 (~50,000 ARCX after AIP-2 split implementation) for project implementation
Use of Funds: [why is that budget needed?]
- Aim for $1,000 standard allocation for any new initiative, up to $2000 extra if initiative requires it
- $250 bounty for any community member that acts as a directly responsible individual (DRI, see below) for a new initiative (committee members not eligible)
- $5,000 (10% of funds) are discretionary for committee to apply (to enable timeliness, adaptivity, and dynamic nature of working group initiatives)
Timeline (could be moved up a week, but leaving it here ~two weeks out for community to digest and provide input):
- First meeting: May 16th
- First initiatives grant funding by: May 23
- Final meeting: Aug 16th
The members of the GWG are, at minimum: two (2) ARCx DAO community members, and one (1) ARCx core team member
The growth working group (GWG) is meant to evaluate and prioritize growth initiatives over the three months. Sub-roles (meeting chair, funds admin, task board master) will be ad hoc and impermanent to improve dynamic nature of GWG. More concretely:
- The GWG will allocate resources to current growth initiatives and solicit new ones from the community.
- If there are not enough new growth initiatives proposed by community, GWG committee may originate its own proposals
- The GWG will monitor and summarize quantitative data regarding growth initiatives it funds
- Each week, GWG will meet to review:
- Idea generation for new initiatives
- Old Initiative evaluation/updates, including data analysis where possible
- New initiative evaluation
- Initiative prioritization to move forward old initiatives or implement new ones
New initiatives will be solicited on a rolling basis. The GWG will evaluate all proposals on the following criteria (modified from INDEX Coop’s GWG II):
- Impact (subjective): What scale of impact could this experiment have?
- Confidence (subjective): How confident are we that the experiment will be effective?
- Effort (subjective): What amount of effort/resources will it take to run this experiment?
- Measurable (objective): Are the impacts of this experiment measurable?
- Personal accountability (objective): Every proposal must have a DRI (directly responsible individual) who submits it and takes responsibility for its execution. The DRI may receive a $250 bounty for successfully implementing an initiative
Weekly (open) meetings on discord
Open view of kanban/task board
GWG will release monthly digest on initiatives, including:
- Summary of funds spent
- Updates on funded initiatives
The GWG is committed to serving the entire ARCx DAO with its work.
This proposal is meant to embody the maxim: “Ask not what your DAO can do for you — ask what you can do for your DAO”