This forum post is a request for funds reimbursement for hiring a marketing agency - Myosin - for a 3-month $GIV marketing campaign with KOL partnerships.
Preamble
As you know, the GIV token’s success is FOUNDATIONAL to the success of Giveth. If you caught the last Giveth essentials call, you might remember a bit about this! The very core of the Giveth roadmap is to leverage new economic systems made possible by web3 to change the way the world works, and ultimately solve large-scale global problems, ahem #Gurves.
But we can’t get there unless we increase the GIV token price & adoption!
Our internal comms team at Giveth just doesn’t have the resources to create and execute upon a strong marketing strategy for GIV and after several failed attempts of hiring, onboarding and offboarding contributors around this effort, we believe that outsourcing the effort to an agency might help boost our comms and also offer us some repeatable ideas that we could hone in on and recycle even after ending our time working directly with the agency.
GIVeconomy WG and General Magic Marketing folks have been hard at work interviewing several marketing agencies in hopes of finding one to support our efforts on GIV token marketing, and we are now moving forward! Our top contender is Myosin, with their proposal here.
After interviewing & getting proposals from several agencies and with ith advice from @griff @OyeAlmond @karmaticacid @aabugosh & @mitch we have agreed to start the process with Myosin and request reimbursement from the DAO.
TL;DR
The GIVeconomy WG has decided to hire Myosin to execute a 3-month marketing campaign for $GIV with associated KOL partnerships. The total cost will be approximately $39k USD (and this includes a $10k KOL campaign media budget).
Payment Options
We are currently in negotiations with Myosin, proposing to pay 10% of the total cost to them in GIV, to be staked & locked by Myosin for GIVpower for 1 year. The goal here is to have an additional incentive and alignment mechanism for their team, since a key KPI for them will be the GIV token price.
Additionally, General Magic is interested in sharing in the long term vision and upside of the GIVeconomy and has offered to cover the remainder of the proposal’s budget (in stables), to be reimbursed by Giveth in GIV at 120%. This would be advantageous to Giveth as it allows us not to tap into the limited Season 4 budget, and reduces the need for Giveth to use further liquidity assets in the current down market.
Conclusions
There are ultimately three options here for how we can proceed.
- Hire Myosin + GM pays & gets reimbursed in GIV with a 20% bonus
- Hire Myosin + Giveth pays entirely from its own treasury
- Halt negotiations/find another way
This proposal will be up for advice process for 5 days before moving to Snapshot for vote.