Intro👋

• GM GM🌞We’re back!!!

• Twitter Spaces was broken so we switched formats and did our Town Hall via a live broadcast

• Here’s what we have in this week’s Town Hall

  • Quarterly report and new voting quorum proposal

  • Announcing the official release of the Rewards Program

  • Cory Van Lew drops by talk about the Faces of Web3

DAO & Governance🏛

Quarterly Report (September - November)

All amounts in USD unless otherwise stated. The full report can be viewed here.

• Revenue ($70,158)

  • Beat projected revenue goals in in September and October

  • Missed in November as the merch store was not ready yet and less direct partnership revenue with GM WEB3 contributing to making it up in past months

  • Beat projected secondary revenue goals each month, despite the bear market

• Expenses ($361,115)

  • Over $100K in savings with being strategic in hiring and scaling in our spending; will be looking at we can invest that savings appropriately to grow

• Summary

  • Total Income: $70,158

  • Total Expenses: $361,115

  • Net Income (Loss): ($290,957)

  • Total Savings: $112,384 (vs. expected expenses)

• Treasury Balance

  • 1,362 ETH

  • $437,227 USDC

• Core Team & LPR Balance

  • 1.15 ETH

  • 770,341 USDC

Additional Updates

• In the final stages of the establishment of a Cayman based education foundation which anchors the DAO in a domicile that is flexible and allows for the DAO to operate in a compliant way; expected to be done in the next week

• Swap $RUG to $RDAO (Claim Site) for new quorum voting proposal going live tonight on Snapshot

It’s pretty remarkable, as a media company, to get the level of sponsorships that the Rug shows have been getting. 300 ETH [in sponsorship revenue] coming out the gate for a DAO that was formed this year, and really for the past 3 months, is absolutely phenomenal. - Mike

Team & Content Updates✍️

Rewards Updates from Jess

• Rewards Program is LIVE!!!

  • Partnered with XpandRewards who developed a custom solution for our rewards program

  • Listen-2-earn will be coming soon as well where creators can send out a code and listeners can earn just for listening

  • With $RUG, you’ll be able to use it in our rewards store (coming soon), CVL mint, and $RDAO governance

  • Check out the instructional video to see how the platform works

  • Check out the Rewards site to learn more and set up your account

• Opportunities for Rewards

  • Twitter

    • Like: 1 $RUG per like - Max. 2 likes per day

    • Retweet: 1 $RUG per like - Max. 1 retweet per day

    • Comment: 1 $RUG per like - Max. 1 comment per day

    • Hashtag: 1 $RUG per use - Max. 3 uses per day (limit one use per hashtag per day)

  • Discord

    • Currently, only RDAO holders can earn rewards for activity in our Discord

    • You can earn 3 $RUG / day

  • Monthly Potential Earnings

    • Twitter: 210

    • Discord: 90

    • Total: 300 $RUG / month

Operations Updates from Amie

• Internal summit Monday - Wednesday of next week for the entire team focusing on different aspects of Rug Radio, planning, & aligning priorities and expectations for 2023

Community Updates from JC

• Highlights

  • Uniswap sponsorship as well as hosting Givenchy & Nike

  • Rebranded the show to GM WEB3 which was well received

  • TONS of love for the Faces of Web3 and our PFP announcement

  • LedgerOp3n booth which many noticed Rug Radio as one of the only Web3 brands there

• Worked on

  • Keeping up with the community on Socials

  • Giveways with Inpeak, Perp, Anotherblock, Outland

  • Helping Jess get everything set up with Creators, revamping creator channels, setting up Xpand to track the Discord

  • Working with Tanja and Branigan with DAO related ideas

  • Rebranding GM WEB3 on all platforms

  • Working with Ryguy and meetings about EtherMail

  • Pausing collab applications to focus on partnerships

  • Working with the Bildr team to help expedite the release

PFP drop in collaboration with Cory Van Lew🎨

• Announced it live in Miami during the nft now event

• Sneak peak of the Astronaut trait and space vibes

• Anticipating 40% - 60% mint for the first round and then transition to ETH with the goal of keeping the mint price low; prioritizing our own community, but would love to collab with other communities

• Making honoraries for our favorite projects as well

“I wanted to make sure that I brought color and happiness with the art.” - Cory Van Lew

Miscellaneous💬

Past Month

• Metaverse Miami / Art Basel / CVL announcement at nft now with lots of content

• Another team member, NYJ, joining us who will be running our Instagram

• Farokh was in Paris for the LedgerOp3n and Rug Radio had our own booth

• Nike .SWOOSH space to announce launch

• Space with Givenchy

• Month long Uniswap partnership

• Launched Rekt Radio powered by Rollbit w/ KBM, Mando, and OSF

• COMPTOIR WEB3, our french speaking show by NormandyWhale is getting really good traction

• Austin has been on a roll with One Big Idea

Bildr

• Spent 6 hours with the Bildr team this week

• We recognize that we’re behind on getting this shipped and we’re continuing to work to get this released as we really want to lean on tech, tools, and solutions in 2023

• During next week’s Town Hall, we’ll have a lot more updates around the platform

Creators

• Creator pass yields tokens + a bonus after 3 months which can be claimed on the syndicate site

• Creators will also have a host facing dashboard within Bildr

Rug Radio chapter 3 starts in two weeks👀