Greetings Governooors, I am btuck, the Head of Communications at Marinade and would like to propose a formal marketing and promotions budget for the next 12 months.
What do I propose
Right now, the Master Chefs are assessing promotional and marketing opportunities ad hoc and have debated over what size marketing opportunities we need to bring to the DAO. We also want the Chefs to understand how much money will be coming from the DAO treasury in order to support our efforts.
I propose a maximum 12-month budget of 6M MNDE tokens for these partnerships, marketing and promotional opportunities. This translates at June 25 prices to a total amount of $432,000. This is a MAXIMUM amount with the expectation that we fall below this number for the year. The max amount represents 0.6% of MNDE’s total token mint (1 billion MNDE). Approximately 1 million MNDE of this proposal (~15%) is currently earmarked to possibly purchase assets of bluechip projects that will go to the treasury.
The 12 months timeframe of this tokens allotment will begin from the execution of this proposal, approx. July 1, 2022 - June 30, 2023.
When applicable, this budget will be paid in the form of newly minted, Marinade Chef NFTs of various levels. Unlocked MNDE or conversion to USDC or fiat will be reserved as last-case scenarios.
Rationale behind marketing budget proposal?
In order to operate quickly but be mindful of our Chef holders and retain maximum value of MNDE, rather than create proposals for all partnerships, we would instead like to be provided a budget to operate from, and the Chefs will trust the core team to act in the best interest of the DAO with these funds.
Even though Marinade is first and foremost a DeFi project, we now have an NFT story and need help spreading it to the NFT space and be visible to new users being onboarded to Solana.
We have tested this strategy and are very encouraged with the early results. We want to commit and amplify this campaign for one year and see how far it takes the DAO in terms of brand awareness.
Our community team has also grown in recent months, continues to build strong relationships with other projects and we are confident they can now help facilitate maximum value with this strategy.
There is still far too little knowledge and understanding about not only liquid staking but also the unique value proposition Marinade’s stake pool brings to all ecosystem players. Only about 3% of Solana stake is liquid at the moment. Marinade can help the network perform better for projects, deliver stake and yield to validators, and enable liquidity for mSOL holders and strengthen DeFi projects as a result. We need assistance spreading the message of this value proposition of mSOL well beyond our current audience to all of Solana. A marketing budget will give the core team the freedom to pursue and agree to strategic marketing and promotions partnership.
We intend to measure the impact of these relationships through a variety of metrics, most notably tracking social engagement and impressions, event and DAO voting participation, additional Chef NFTs minted, Marinade’s piece of the liquid staking pie on Solana, and the general growth and engagement of the Marinade DAO.
Given these relationships will all be public facing, the DAO will be able to see who Marinade is partnering with for marketing and be able to provide their feedback in the Chefs channel.
# Other considerations
Over time as the DAO becomes profitable, revenues can be steered into the marketing budget instead of allocating new minted MNDE Chef NFTs.
This budget includes a verbal agreement we have made with Degen Apes Academy for 1M MNDE, including a 250k purchase/NFT swap of their project, as well as two Ambassadors.
Approx. 1M+ MNDE ($86,000 or 15%) of this budget is currently earmarked for the purchasing assets from bluechip projects for the DAO treasury.