1. Abstract

With the rapid growth of Web3/DAO, it's fantastic to see more and more talent jumping into the ecosystem to build new projects. This document proposes to create an Acceleration Programme (“AP”)  under the Governor Block so that 8DAO can properly support its allies.

2. Motivation

The AP can benefit 8DAO and its members because it can:

• Allow 8DAO to benefit from the growth of the projects we accelerate (“acceleratees”), by holding their tokens;
• Provide 8DAO with a greater chance to obtain talent and contributors during the collaborations with the acceleratees;
• Create opportunities for 8DAO members to learn from and contribute to different innovative acceleratees;
• Build a strong alliance with acceleratees, making 8DAO and its allies more competitive.

 3. Mission & Vision Alignment

All the acceleratees will be in Web3 / DAO industries. This aligns with 8DAO’s mission and vision of supporting and investing in creators and founders in Web3 / DAO.

4. Core Proposal

Creating the AP under the Governor Block with specifications as below:

5. Specifications

Structure

It is proposed that the AP be created under the Governor Block to deal with acceleration-related issues. Karma Pocket, the Governor Block leader, will oversee the operation of the AP and take responsibility in filtering projects for the AP.  Following an initial selection and filtering procedure managed by Karma Pocket, including preliminary negotiations on terms of engagement, proposed acceleratee projects will be presented to block leaders for final approval on a collective basis.

Acceleration

For a period to be mutually agreed between 8DAO and the acceleratees, 8DAO AP will provide acceleratees with the acceleration and mentoring support, which includes, but is not limited to:

(i) business mentoring: guidance provided by 8DAO expert mentors, investors and blockchain sector veterans on a broad range of topics relating to business strategies, development, growth and effective business processes;

(ii) visibility and promotion: 8DAO will showcase and promote the launch, stage development news and milestone achievements of the acceleratees, on a mutually agreed timeline, on 8DAO social media channels, inviting the participation of the acceleratees at events, talks and conferences organized by 8DAO to endorse and increase brand awareness and give acceleratees greater traction in the blockchain sector;

(iii) resource hub: assistance in connecting the acceleratees to professionals and other qualified persons through different business development stages and act as a first port of call on know-how in DAO and tokenomics; and

(iv) monitoring and review: host regular dialogue and discussions with the acceleratees’ core management teams to monitor progress, growth and to identify possible issues on which to provide guidance.

For its time and opportunity cost in providing the AP services, 8DAO will be compensated with acceleratees’ tokens and/or stable coins (“fee tokens”). The amount of fee tokens will be decided by 8DAO and each acceleratee together. All the fee tokens received from acceleratees will directly go to 8DAO treasury.

Furthermore, in order to strengthen the interest alignment with the acceleratees and bring more value to our treasury, the 8DAO Investment Committee will work closely with the AP to decide if 8DAO should further invest in the acceleratees directly, i.e. through payment of stable coins and/or 8DAO tokens from the treasury to acquire additional tokens (beyond fee tokens) of the acceleratees, to fortify 8DAO’s position.

6. Implementation & Timeline

Setting up a multisig 8DAO AP wallet: 7 June 2022

7. Budget

For Season 0 (1 April 2022 - 30 June 2022):

Operation: 10,000 USDT and 20,000 8DAO tokens

8. Squad

Karma Pocket - 8DAO Governor Block Leader

Samuel Gu - 8DAO Governance & Administration Block Leader

9. Risk assessment

There are various uncertainties and risks in fast-growing industries like DAO/Web3. Key risks include: (a) selection of underperforming acceleratee candidates could both waste our resources and efforts as well as proving detrimental to the reputation of 8DAO; and (b) involvement with an acceletratee which poses legal and/or ethical risks in the nature of its business. It is important that caution is exercised in this regard, not only in initial selection, but on an ongoing basis through the AP.  It is proposed that all Block Leaders, contributors to AP and the investment committee should each give input on risk assessment aspects, as each block carries its own analytical strengths and expertise.