PSP-BPΔ1-7: Marketing & Partnership budget (3.85M $PSP, 1.62% budget)

Governance Proposals Budget
1

Keywords
Marketing, Contests, Events, Partnerships

Simple summary
Allocate a marketing monthly budget handled by a community multisig.

Context
Creating a budget dedicated to marketing and partnerships would allow the DAO to move quickly on small expenses.

Goals

  • Increase Paraswap marketing & partnerships

Rationale
This proposal is about creating a budget easily accessible by the community. This could concern several points :

  • Twitter contests. Increase the followers of the project and kick start a partnership to link two communities (for example, a twitter contest “Like, follow & RT and try to earn X $PSP” or “ Follow X Project and ParaSwap, Like & RT x tweet and tag friends” etc
  • Trading contests. We could do trading volume contest on new chains for example, and reward with $PSP
  • Rewards for AMAs. By creating partnerships with other projects, we will participate in AMAs, events and this is good occasions to rewards the community for the best questions
  • Partnerships with other projects. It can be useful to use part of this project to start partnerships with other projects by creating short term incentives

The community members on the multisig should be decided with a DAO vote.

It might be worth considering low expenses handled by the multisig without a DAO vote, for example below 3000$.

Higher expenses should follow the regular DAO process with a Snapshot vote.

Means
The proposed budget is 3.85M $PSP yearly with a distribution of 350K $PSP/month maximum for the marketing budget.

Voting options

  • Accept the Marketing & Partnership budget (3.85M $PSP, 1.62% budget)
  • Refuse the Marketing & Partnership budget (3.85M $PSP, 1.62% budget)
  • Abstain
Should we allocate a marketing & partnership budget ?
  • Accept the Marketing & Partnership budget (3.85M $PSP, 1.62% budget)
  • Refuse the Marketing & Partnership budget (3.85M $PSP, 1.62% budget)
  • Abstain

0 voters

3 Likes
2

I appreciate the idea of a budget dedicated to Marketing & Partnerships, great job!

However, I think it is essential to have a (marketing) strategic plan in place and KPIs defined. It’s not necessarily a blocker to approve this poll, but I’d love to see it mentioned, and then once the budget is voted, have something much more elaborate with respect to how and for what this budget will be spent.

Marketing budgets are very easy to spend for mediocre results. Accountability requires a plan and KPIs.

6 Likes
3

100% support a marketing budget. We can start establish partnerships and leverage it harder when new features are released like gas refunds, referral links and other significant changes. Just to confirm though with the monthly limit, is that a set in stone thing? Happy to keep the yearly limit but as important milestones are achieved we may want to leverage more in certain months than others.

3 Likes
4

The distribution is 350K/month but I guess if you don’t use the full amount it will be added the next month to the next 350K. This should ultimately result in a slightly larger monthly balance each time.

But that’s assuming we spend less than the budget each month.

I agree with you about allowing an allocation to be brought forward if an important event requires it and under the condition of the DAO vote.
However, is this monthly allocation made via a smarcontract, and therefore could this smartcontract allow it?

In any case, I vote in favour.

1 Like
5

I agree with the general framework and approved the proposal. I however 100% agree with @philh.
Such budget should be later on be broken down within a strategic plan that clearly defines the objectives and the KPIs that measure the success of the actions undertaken.

3 Likes