Proposal: Funding to Secure MetricsDAO Runway

MetricsDAO is an early-stage DAO that needs to continue to grow and scale in a bear market. In order to achieve our growth goals, we want to secure $250k USD in additional funding.

The funding will be structured as a loan from Flipside Crypto, with $0 monthly payments and an interest rate of 3%. The interest rate is the lowest permitted under current IRS regulations. The loan will be repayable upon a future successful fundraise, and MetricsDAO will not be obligated to make payments towards the loan until then. The loan is projected to cover all operating expenses for the rest of 2022, with the goal of revisiting the go-forward funding strategy in Q4.

Average monthly expenses since March have been ~22k, and our treasury inflows & outflows are publicly visible on this dashboard: Dune . These are largely contributor rewards costs. We will scale down some contributor rewards (MarCom) as we progress into Season 2, while continuing to slowly grow capacity in engineering, design, and bounty operations. Flipside continues to fund many recurring costs for MetricsDAO, including Snowflake and several subscription costs which require the use of a credit card by an established legal entity (tracked here: Costs.)

We project that we will spend this loan on continued contributor rewards, self-funded bounties, bounty experiments, and support for initiatives like the Blockchain Analytics course. You can see a forecast for the remainder of 2022 here: MetricsDAO_Budget_06.29.22_forum.xlsx

In anticipation that this will be a non-controversial vote, and in the interest of moving quickly to secure funding for upcoming expenses, Iā€™m going to start the temperature check poll now. As always, questions/comments/feedback are welcome in the comments here, Discord, or DMs (catjam#6271).

  • YES - Agree to terms of loan
  • NO - Do not take loan

0 voters

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Hi all, after passing Temp Check, this vote has moved to ratification vote with the MetricsDAO Governance Committee.

Vote will be open for 5 days, closing on July 10th, 2022 @ 11:04am EST.

We will follow up with results here!