Out of 2022Q1 marketing budget approved in December 2021 in Vote 007, the DAO paid out 4851 Liquid GRO, 4598 Vesting GRO and 84,408 USDC for the activities below. The key items were G-Force compensation and CRE8R DAO monthly fees. Please see the detailed spend below.
The surplus based on actual spend consists of 15,149 liquid GRO, 95,402 vesting GRO, and 115,592 USDC. It will be carried forward to the next budget.
While G-Force epochs are more visible to the DAO, others may be less so. Here’s a quick recap of the output driven by the actual spend.
Introductory article: ‘Miracle’ GRO, A Protocol Overview | by Florian Strauf | BanklessDAO | Medium
Podcast: The Story of a Fintech Degen | Graadient and Gro Protocol | Crypto Sapiens
Decentralized Law sponsorship: Q2 - yet to publish
The DAOist sponsorship
Gro video production
There’s a lot of content created in the past 2 months - sharing a few video examples here but there’re also content in other formats e.g., tweet thread, podcast summary, graphic design, audio
It’s worth noting that the largest committed spend is not included in the table above as it has not been paid out yet. This refers to inviting LobsterDAO members to test Gro Labs and Rewards Centre (see proposal here).
For every lobster NFT holders interacting with Labs and holding funds for 2 weeks, Gro will distribute 300 vesting GRO to the lobster NFT holder and 67.51 vesting GRO to LobsterDAO treasury. This comes on top of 6,751 vesting GRO contributed to LobsterDAO treasury for organising the Spotlight event and subsequent support. As the bulk of this spend depends on participants from LobsterDAO, this figure could vary greatly depending on actual number of participants. The funds will be paid out at the conclusion of the campaign in Q2.
As Gro continues to decentralise, it would present challenges to having a set budget as various contributors may suggest new initiatives that would require funding beyond what is already approved by the DAO. Instead of approving a budget for a set period of time (e.g., Q1), we could instead approve a quarterly run rate with a total spend cap together with a list of marketing activities this run rate supports.
The twist is that we don’t need to seek additional governance vote approval if there is still a surplus. This could lessen the need for convening a DAO vote when there is still sufficient funds remaining for marketing activities. Meanwhile, spend will continue to be reported on a quarterly basis to ensure DAO oversight.
I’d love to learn your thoughts - please share your ideas below!