Over the last few months, Gro protocol has seen unprecedented growth. To date, Gro has grown through word of mouth of our community. We have 12.4k Twitter followers, 2k GRO token holders and over $60mn TVL, all achieved organically.
For the next phase of Gro DAO’s growth, the core team would like to propose an ongoing quarterly marketing budget. DAOs need to use their treasuries to scale fast (blitzscaling) and build competitive moats: including brand awareness and scale from acquiring new users.
One of the most frequent DAO requests is for more marketing. We recently launched the G-Force which has 12,000 GRO allocated from the allocated community incentives pot. As with all community incentives, this vests through the rewards centre.
We now want to create a broader marketing budget to promote Gro in the DeFi space and increase protocol TVL.
This could include (but not limited to):
- Professionally produced videos (we have an animation studio ready to produce a series of explainer videos)
- Podcast and newsletter sponsorship (eg Bankless, the Defiant, Coingecko)
- Competitions with non-vested GRO rewards
- YouTube and Twitter reviews
- Anything else within budget that the community or core team feels will help communicate Gro to a wider audience
Proposal: $200,000 USDC, 100,000 locked vesting GRO and 20,000 liquid Gro quarterly marketing budget
Our proposed initial quarterly marketing budget is each of:
- $200,000 USDC (<1% of treasury)
- 100,000 vesting (locked) GRO (~0.1% of community incentives) and
- 20,000 liquid (unlocked) (~0.1% of treasury GRO) Gro.
The budget would last from when the DAO vote passes until 31 March 2022 (end of Q1 ‘22). It would be spent in accordance with the guidelines set out below.
This would allow for the following example budget (all figures are estimates based on best available information):
- 6x videos ($60k total)
- 10x sponsorship opportunities ($30k total)
- 6x G-force epochs (up to 100,000 locked GRO, depending on future iterations)
- 10x Youtube and twitter reviews ($50k or 10,000 GRO)
- 6x Community competitions (6000 GRO)
- Miscellaneous Spending Items or other community suggestions
In addition to the marketing budget, we will propose several other DAO budgets over the next few weeks (e.g. operational costs for the DAO). In anticipation of these proposals, we have suggested some guidelines:
- Budgets can contain a mix of USDC, Liquid (unlocked) GRO and Vesting (locked) GRO
- Budgets should be agreed for 3 month periods (calendar year quarters)
- Different types of assets may come from different sections of the total Gro allocation:
- USDC spend will come from the Treasury allocation
- Vesting (locked) GRO spend will come from the Community incentives allocation
- Liquid (unlocked) GRO can come from either the Treasury or the Community Incentives, depending on whether the recipient is a current or new community member (e.g. G-Force, competitions) or an external organisation (e.g. sponsorships)
- DAO votes on the Quarterly Budget in accordance with the process below, and the budget is moved from the treasury to an operational wallet. At the end of every quarter, any unspent funds will be rolled over into the next Quarterly Budget.
- This vote could cover some already proposed Spending Items.
- Anyone can propose a further Spending Item from the relevant budget on the community forum.
- Initially, approval for Spending Items will be given by the core team, within the parameters of the Quarterly Budget. The core team may also propose further Spending Items.
- The funds will be used transparently and there will be a dashboard (Google Sheets, Dune analytics or equivalent) tracking expenditure.
Once the community has had time (7 days) to comment on this forum post and discuss in Discord, we will create a new forum post with proposed exact wording and terms.
We will then allow at least 7 days to discuss this vote (including in dedicated new discord channels) and announce it at the community calls.
The vote will then run for a further 7 days, so the whole process from today should be 21 days.