The DAO has completed another month of marketing activities with 4 partnering agencies voted in by the community who have been helping with Hydra Chain’s awareness efforts. As the two-month working period is ending soon, it is your turn to vote for your preferred agencies, thereby directing the budget to be spent efficiently.
Based on the community comments on a DAO post created by DAO member jvw, we are adding a few new options / rules to the Marketing Budget Proposal for review and voting.
1. Adding a New Option of “Save for Later”
This option intends to save a part of the budget for later use with bigger budget Tier 1 KOL’s after the HydraGon mainnet is launched.
It should be noted that any amount allocated to this option will reduce the working budget for our existing awareness efforts with the current marketing agencies that you vote for.
For the purpose of clarity - existing efforts include Tier 1 / 2 assets on PR media, YouTube, Twitter, targeted PPC traffic, Quests etc…
It should also be noted that any budget allocated to this option would allow for future power-plays with top tier advertising and KOL’s, while being flexible in terms of when this budget would be used. The budget could also be used for alternative marketing avenues, if supported by the DAO.
To avoid any last minute liquidation and speculation in the market, the percentage allocated to this option will be liquidated to stablecoins at any point during the course of the working period and saved for future use as would be determined in a future proposal / vote by the DAO community.
This option is excluded from the minimum threshold and disqualification criteria.
2. Changing the Minimum Allocation Threshold
Based on observations from the community and while working with multiple marketing agencies simultaneously since the past few months, it has been noted that small budgets allocated to any agency provides a very small bandwidth to work with good Tier 1 / 2 KOL’s and media.
Therefore, except on a few occasional cases, the small budget spent may potentially not be as valuable and effective as it should be. So considering the above it is proposed to change the minimum threshold for allocation of the budget. The DAO community can share their preference / view on what should be the appropriate threshold via a vote.
Max possible threshold should not be more than $10k. It is proposed that everyone casts a vote depending on your preference for the threshold.
The range of Hydra to be sent to the voting address is between 0.01 to 1 Hydra, where each 0.01 Hydra = $100
For example:
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a DAO member votes 0.5, the threshold preferred is (50 x 100 = $5,000)
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a DAO member votes 0.7, the threshold preferred is (70 x 100 = $7,000)
All votes will be collected and an average mean will be drawn. For instance, the average mean of the above example would be $6,000.
This vote to change the minimum threshold is a one-time vote that will apply to the current and future HIP-2 addendum proposals, until the DAO community deems it necessary to revisit the minimum threshold topic in a later period
Note: Any amounts allocated to marketing agencies that are disqualified in a particular period, will be proportionally allocated to all qualifying options including the “Save for Later” bucket
Note: The exponentiating formula will apply as usual.
Vote for February 24 / March 24
Place your vote for the monthly budget allocation of the four agencies that compete for providing services under the pre-approved Marketing DAO Framework !
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Snapshot Time: January 25, 23:59 UTC time
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Voting Start: January 26, 00:00 UTC time
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Voting End: January 31, 23:59 UTC time
The allocation for the previous working period of December 2023 + January 2024 was as follows:
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AtoZ-PR → 36.60% → $12,444
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Collibri Group → 7.23% → $2,459
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Cryptic → 8.01% → $2,723
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ICODA → 48.16% → $16,374
The DAO now has the chance to re-adjust the budget allocation for the months of February & March. For that purpose, simply vote for your preferred marketing agencies by sending a total of 0.1 HYDRA to the respective wallet addresses (during the voting period!):
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Atoz-PR → HHxxxxATZxFEB24xxxxxxxxxxxxxwFdAqh
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Colibri Group → HHxxxxCBRxFEB24xxxxxxxxxxxxxzVC1GR
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Cryptic → HHxxxxCRYxFEB24xxxxxxxxxxxxy2YdUGm
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Save for Later → HHxxxxSAFExFEB24xxxxxxxxxxxxzQdt9B
Every DAO participant has a total vote of 0.1 HYDRA available, which should be casted to the voting addresses of your favorite agencies (you can split it per your liking, as explained here). The 0.1 HYDRA vote will map your entire voting weight (from the snapshot) proportionally to the agencies.
Note: The exponentiating formula will apply as usual.
Summary of Agency Activities
The summary report of agency activities can be accessed through the links below:
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AtoZ-PR → Summary Report
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Collibri Group → Summary Report
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Cryptic → Summary Report
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ICODA → Summary Report
Change of the Minimum Allocation Budget
To change the existing minimum threshold from the current $2,000 to something more appropriate as determined by the DAO community.
As explained above in Point 2, please send an amount between 0.01 to 1 HYDRA to the wallet address below, to choose the minimum Threshold
→ HHxxxxTRESHLDxFEB24xxxxxxxxy26ept8
As always, thank you for participating and we can’t wait for the next wave of marketing activities!