As we are approaching the end of Season 2 (1 October - 31 December 2022), the core contributors hereby present the Season 3(1 January - 31 March 2023) Proposal to all the 8DAO members. In Season3, our development focus will remain the same as Season2, which is creating value to token utility. The slogan for Season 3 is “Build Token utility”. From the perspective of core contributors, it is an important goal for our DAO and the complexity of its nature requires more than one season to build. We will be building on what we have established in season 2 and continue to bring further value to DAO token utility. The key points of Season 3 Proposal are set out below:
Create value for 8DAO tokens. “Build Token Utility”.
Blocks coordination. Coordinate and support all blocks functioning well
Ambassador. Represent 8DAO to introduce or present in gathering, interview, seminars, conference and other events
Explore new initiatives. Line up with strategy block to discuss and plan new initiatives
DAO & Investment Block
During the course of Season 3, the DAO & Investment Block will:
continue closely reviewing the governance structure and process, propose amendment once necessary
continue exploring all kinds of partnership to further build our ecosystem
continue exploring investment opportunities and grow with the projects
The Strategy Block will continue to work with block leaders to drive towards 8DAO’s seasonal goal. Facilitate discussions and provide advice. Help Block Leaders plan and review their plans and tasks, apply structured and critical thinking to different initiatives. Meanwhile, we further engage with different contributors and community members to solicit feedback and ideas for the DAO’s strategic development.
NFT & Community Block
The key focus for Season 3 is to continue growing the number of quality members in 8DAO, and at the same time explore how our block initiatives contribute to building token utility. This season we grow from 3 to 4 working units: 1. Administration, 2. Content, 3. Social Media, and 4. NFT to execute on our key initiatives.
The key focus for this Season will be exploring more web3 tools to improve 8DAO productivity and contributor’s using experience; preparing reports to members for operational transparency.
Consolidated Season 3 Budget
Season 3 Core Contributing Team
“Build Token Utility” is the slogan for Season 3. We started exploring token utility in season 2 and introduced some token utilities. This will remain the strategic goal in season 3. It will help to guide the team and assess our performance.
The team will further develop the token utilities being established in season 2. They include members only events, members only merch, members only pool investment opportunities. A new membership tier, Moon members, was also introduced to give priorities to members who are willing to obtain and hold more 8DAO tokens. Meanwhile, each block will continue to have a budget to launch and develop initiatives that have the potential to create token utility. Experiment is encouraged. Having this as a strategic goal also helps all block leaders prioritize their time and resource allocation.
In order to further clarify the main tasks of each block and simplify the structure, the 8DAO governance structure is proposed to be adjusted as below, with effect from the beginning of Season 3:
Remove “Acceleration Programme” (previously under Coordination Block)
Add “Governance” working unit under DAO & Investment Block
Remove “Investment Club” (previously under Investment Committee)
Add “ 8 Ventures” working unit under “Investment Committee”
Reform “Administration Sub-Block”, “Content Sub-Block” and “NFT Sub-Block” to be “Administration”, “Content” and “NFT Sub-Block” working unit respectively
Add “Social Media” working unit under NFT & Community Block
Season 2 Summary
The top priority of this block is to work with each block to ensure tasks are meeting the season 2 strategic goal. New token utilities are being introduced, but more time is needed to complete the existing utilities and explore new utilities. Ambassador work continues to be performed. As a result of the marketing efforts by the team, the 8DAO brand is getting more widely recognised by web3 communities in Hong Kong, Singapore, Taiwan and Japan.
Season 3 Plan
The key task of the coordination block is to coordinate and support all blocks to function at their optimum level. It will continue to facilitate the resources and human capital needed via discussion, planning and allocation as well as review and develop procedures and decision-making processes to improve the efficiency and transparency of the core team. While this is the primary responsibility of the block, there are two additional important functions - Ambassador and new initiatives.
The block provides representation for 8DAO (and delivers introductions and presentations) at gatherings, interviews, seminars, conferences and other events. By promoting 8DAO publicly, we can potentially attract more new members and gain partnership opportunities with other corporations, brands or communities. These partnerships have the potential to create token utility and the public exposure can attract new members and increase token demand.
In respect of new initiatives that fall outside the immediate scope of other blocks, the Coordination Block will work with the Strategy Block to assess and categorize as best suits the nature of the initiative. We will target those new initiatives that create token utility and demand in the near future. One potential aspect the block is looking at is 8DAO development in targeted regions with the help of local leaders. This would lead to a better strategic focus of resource allocation and high certainty of initiative success.
Season 2 Summary
In brief, during the course of Season 2, the DAO & Investment Block (“D&I Block”) has:
Officially established 8DAO Ventures Squad (“8 Ventures”) to support deal sourcing and analysis
Restructured the Investment Committee
Created and modified the compensation scheme for 8 Ventures contributors and Investment opportunity referrals
Published a research article together with OKX Ventures
Established formal partnership with leading Web3 investors and projects
Invested in Snagsolultions and Thirdverse together with leading investors
Led the preparation of the Season 2 Review & Season 3 Proposal.
For more details, members can review the Season 2 Review posted in 8DAO discord.
Moving forwards into the new season, our objectives are to continue developing token utility, be that through providing quality alliances and investment. The key points of Season 3 for DAO & Investment Block are as set out below:
There is no significant change from governance perspective in Season 2, except for re-election of two IC members, one due to rotation and the other due to an existing IC member`s personal circumstances.
In addition to the improvement of governance structure stated in this proposal, the D&I Block will continue to focus on monitoring and reviewing the governance of 8DAO to ensure the smooth running of operations under the previously agreed rules in Season 3. Amendments may be proposed in the future, as necessary.
DAO as a community can be highly diverse and, consequently, can be more competitive in bringing all kinds of resources to its partners compared to traditional institutional organizations. A diversified network, with holders incentivised to promote the DAO by their participation, gives a DAO a real competitive edge and presents many opportunities.
In Season 2, we have proved the value of 8DAO as “Community Partner”, not only in recruiting over ten quality Web3 projects founders/key management to become 8DAO members, but also with our formal partnerships established with leading Web3 organizations. We have already been sourcing deals, making investments, posting research articles, and hosting events alongside our partners.
Through partnership, we can also effectively diversify our token holders, through fair schemes. With 8DAO tokens in the hands of our partner, we can build deeper and longer partnerships.
In Season 3, the D&I block will continue to focus on further establishing quality partnerships with leading organizations. We will continue to build on our strong foundations.
In Season 2, we announced investment into two learning Web3 projects, with leading organizations. In this way we have proved the “Community Ventures” concept - we are competitive in terms of sourcing and protecting the investment allocation. 8DAO`s allocation in these investments also give us great recognition.
These investments serve as a key way to capture the value of 8DAO’s strong network. In Season 3, we will be focusing on the projects which have strong synergy with 8DAO - we continue to build, identify deals, support the Web3 ecosystem and are always open to any kind of opportunities for review.
Season 2 Learnings
1. Post FTX crash, the market has become much quieter. Event turnouts are lower, engagement across the board is lower. And we gear to lower our burn during this period.
2. Twitter Spaces has been tested as the most effective outreach channel presently, with the highest turnout rate (>1000 attendees for our last 2 spaces). Continue to focus here.
3. For technical product development, we are learning and now have a better grasp of working with external development studios, for example their team size and timeline management.
4. WL mints not producing alpha for our members in the current market.
For content scheduling, learning that - frequency of hot content unpredictable, reduce target from 6 per season to 3 per season. Focus on quality articles over quantity
Season 3 Plan
For season 3, despite market conditions, we aim to at least maintain the growth rate of new members in 8DAO. And at the same time we explore how our block initiatives contribute to building token utility.
1. Community events (only those that meet our minimum attendance criteria)
2. Implement new dashboard to track internal (TG member activity, email open rate etc) and external (social media following/ average post engagement etc) metrics
3. Work with external development studio to launch token gated member gallery
4. Design and production of more and different types of quality merch for members
5. Grow community mod team to 2, with our existing contributor Wing helping with mod duties. Total of 5 contributors in Community block for season 3.
Seasonal Task 1: Complete token gated member profile gallery
Seasonal Task 2: Minimum 28 approved members join 8DAO
1. Curate and craft quality content for members on hot topics in Web3 Space, published on our 8Weekly (adjusted to 3 per season or once per month)
2. Craft quality outreach content, inline with our social media strategy
3. Periodic updates to 8DAO website and content
Seasonal Task: 3 approved and published articles on 8Weekly
1. Continue implementation of initial social media strategy
2. Craft quality social media posts
3. Membership NFT design Seasonal Task: Grow Twitter to 4k following
1. Explore potential collaborations with other NFT projects and studios, obtain WL opportunities for 8DAO members. We will be more selective this season.
2. Enhance 8DAO brand recognition through collaborations, joint events and joint Twitter spaces with other communities
The Strategy Block will work with each block leader to develop strategies for various initiatives. ensure all the initiatives are coherently driving towards 8DAO’s seasonal goal.
Drive strategic vision for 8DAO based on seasonal goal and ensure consistency and effectiveness in articulating our vision when executing relevant strategic initiatives
Be a strategic thought partner and sounding board to Block leaders for different initiatives
Apply structured and critical thinking to different initiatives, strategize and prioritize when needed
Provide insights and help promote the culture of collaboration internally and externally
Engage with community members and external partners to collect their feedbacks and idea for strategy development
Develop strategic views to optimize 8DAO’s operations and organization for efficiency and effectiveness
Facilitate discussion among block leaders on strategies, governance and seasonal goals
Continue to contribute to various online and offline community events and engagements **
Season 2 Summary
In brief, during the course of Season 2:
3 general members upgraded to moon members
28 new members
Invested in Thirdverse & TinyTap NFT
Moon members joined pool investment for Thirdverse
For more details, members can review the Season 1 Review posted in 8DAO discord.
The reports will include information about 8DAO asset diversification, how and where funds were used.
Continue to keep treasury assets safe; bookkeeping for treasury; review, approve and process 8DAO tokens/payments to block leaders/contributors. New treasury tools will be tested and implemented to improve community user experience and productivity. Treasury Block will review the season budget regularly with block leaders to ensure the fund has been used reasonably.
Consolidated Season 3 Budget
Please note that all unutilized/unclaimed Season 3 budget will automatically expire at the end of Season 3 (31 Mar 2023).
Please further note the 8DAO tokens distributed as compensation in Season 3 will be subject to the locking and unlocking arrangement as below:
** End of Proposal **