[FINAL] Doodlebank Amendment

Discourse: https://forum.doodles.app/t/the-doodlebank-amendment/2386

Proposal:

• Yes, amend the Doodlebank
• Do not amend

TL;DR:

• Appointing a founding community council and commit to establishing council governance
  • Improve oversight of Doodlebank
  • Responsible for community budget planning and proposal vetting.
  • Responsible for communication with the community on Doodlebank progress.
  • Accountable for rewards program roadmap planning
  • Informed on the product roadmap
• Nomination of the Doodle Watch
  • Attend Community Council meetings
  • Monitor the council’s activities and ensure alignment with Doodles goals and values
  • Provide feedback and recommendations to Doodle’s team based on observations
  • Support community outreach and communication from council
• Removing the $100k commercial license cap for revenues derived from projects executed under the approved Doodlebank proposals.
• Replace snapshot proposal voting with community council and Doodles team approval
• Align incentives between holders and the Doodles core team to distribute Doodlebank funds strategically
• Remove quorum requirements

The Amendment:

A year and a half ago, three friends launched Doodles on Ethereum as an NFT project. Together we’ve reached hundreds of millions of people, deployed our technology on multiple blockchains, and made Doodles one of the most colorful and joyful brands in the world. The original Doodlebank objectives were to fund both the growth of the Doodles team and the growth of the Doodles brand via community experiments. As a small team without outside investments, this was incredibly helpful. We initially deposited 420 ETH into the Doodlebank and to date, half of royalties paid from secondary sales of the OG Doodles collection on Opensea have been deposited in the Doodlebank. Today, the Doodlebank holds Ether with a present value of ~$5 million USD, that awaits deployment! As Doodles has evolved since we embarked on this journey together, so must the Doodlebank. We are incredibly excited about the changes outlined here for the Doodlebank. Together, these new and refreshed Doodlebank practices look to meet the needs of our collectors and the broader Doodles community and facilitate our ambitious long-term vision.

The Evolved Doodlebank Proposal:

The pillars of this evolved Doodlebank proposal are community empowerment and holder rewards.

Community Empowerment:

Events

The Doodlebank will deploy capital to further our ability to connect as a community in real life. From local collector meetups to Doodles branded experiential events at culture and web3 conferences, Doodlebank funds may be distributed to help the Doodles community experience Doodles joy in person, deepen relationships and make more meaningful connections that you can take into your everyday lives.

Entrepreneurs

Like a Y Combinator or Disney Accelerator Program, the Doodlebank will become a funding resource to support collectors working to build meaningful products, stories and services for our community and the world. With an eye to ensuring that these new projects bring incremental value to collectors, where it’s appropriate, these grants may be subject to collectors receiving specialized access, pricing or other unique benefits. We cannot wait to see members of our community use access to our Doodles-only funding platform to take their ideas to new heights.

Community Creators

Doodles is filled with skilled content creators who drive awareness of our brand, from organized teams like JKB and TGID to artists like NFT Sushi, Cyclo, and ArtDood. The Doodlebank will become a resource to support these creators who grow our reach. To maintain value for the whole community and stay on course with our long-term goals, we want to ensure that any content that’s Doodles-branded or centered around are community are consistently considered best-in-class in terms of quality and professionalism. To help our community content creators maintain that standard and to encourage such creation, the Doodlebank will be a resource to help fund top-tier content production. This could include funding equipment to be used for content creation, or engagement of services necessary to create or promote content, like post-production engineers, social media agencies, or event planning coordinators. Beyond ensuring that content created by the Doodles community is best-in-class, we also feel this presents a unique opportunity for community creators to grow their creative skill sets with support from the Doodles community.

Rewards Program:

We are building a timeless media franchise with our community at the center. Our vision requires taking a long-term approach, one where we build with our holders over time. As part of this experience, we want to make being a part of the Doodles community more valuable. With the Community Council, we will deploy Doodlebank funds to establish a roadmap for an enhanced rewards program which aim not only to create additional benefits available to Doodles holders (e.g., specialized access and discounts) but also reward Doodles holders who have held their Doodles the longest.

Waiver of $100k Commercial License Cap:

Whether it’s the creation of physical products, content or other endeavors that our community members may want to pursue, we understand that the strength and appeal of these projects may rely on community members’ abilities to exploit their own (or other community members’) Doodles. For this reason, in connection with projects borne out of approved Doodlebank proposals, the $100,000 USD cap on revenue our community members may generate from exploiting their Doodles will be waived. Our goal with waiving the revenue cap is to incentivize community members to think creatively in how to monetize their own (and potentially other Doodles’) characters and IP and empower the community to pursue opportunities which the Doodles team feels complement or strengthen its own efforts.

Installation of a Community Council:

With the installation of a Community Council, our objectives are:

1. To make funds easier to deploy
2. Reduce the time needed for proposals to get approved
3. Empower leaders in the community to steer the use of funds (i.e., creation of the Community Council)

At the outset, we envision the Community Council and its role within the Doodles community as follows:

Members:

5 positions; however, we may add to the council over time.

Positions:

1. Council Chair
   • Serve as a liaison between the Doodles team and the Community Council
   • Schedule bi-weekly meetings with the Doodlebank Community Council
   • Collaborate with the community to refine proposals and share progress
2. Treasurer
   • Manage Doodlebank quarterly budget and reporting
   • Oversee delivery of Doodlebank funds to proposals
   • Report on Doodlebank royalties from funded projects
3. Events Lead
   • Manage the allocation of Doodlebank funds to community events
   • Source event and program partners
   • Develop proposals for events and programs to be reviewed by the Community Council
4. Grants Lead
   • Collaborate on Doodlebank grants program with the Doodles team
   • Manage the allocation of Doodlebank funds to entrepreneurs and creators
   • Work alongside Doodles team to develop Requests For Proposals (RFPs)
5. Rewards Lead
   • Collaborate on rewards program roadmap with the Doodles team
   • Source partnership opportunities (i.e., rewards partners)

Responsibilities:

As a council member, your responsibilities and tools will include the following:

• Bi-weekly meetings with the Doodlebank Review Council

• Dedicated slack channel with the chair of the Doodlebank Review Council and other Doodles team members

• Oversight on Doodlebank allocation

• Insight into our product roadmap

• Collaborate with the community to refine proposals and share progress

• Meet with and gather feedback from the community

• Provide feedback on work in progress product, creative, and live experiences

• Source partnership opportunities (i.e., rewards partners)

  

Qualifications:

We’re looking for a mash-up of excellent Doodlers with: * Strong belief in the strength of the community * Business and operational acumen * Industry-specific experience (e.g., media, entertainment, gaming, commerce, and fashion) * Ability to spend ~10 hours per week on your responsibilities

Term:

6 months

Pay:

ETH equivalent of $24,000 USD per term, paid monthly at the end of each month

Community Council Application Process:

Upon approval of this proposal, the Doodles team will open a request for Community Council submissions on the forums. Interested holders will have 7 days to submit their applications for their desired role(s). The application period will be followed by a 7-day campaign period during which we will work with the community to host spaces for candidates to campaign for their nomination. At the end of the campaign period, members of the Doodles executive team will deliberate for no more than 4 days before selecting the 5 council members. We will consider community support/championing along with each candidate’s application submission and qualifications. The success of the Community Council relies on this process being a meritocracy rather than a popularity contest and it is imperative that the campaign period does not devolve into smear campaigns. We will consider decentralizing this process in the future.

Doodles Team Council:

To work with the Community Council, we are creating a Doodles Team Council. The Chair of the Doodles Team Council will be Austin Hurwitz. For those proposals which require Doodles Team Council approval, Austin will assemble members of the Doodles team, based on roles and subject matter expertise appropriate for the particular proposal and together with Austin, those Doodles team members will comprise the Doodles Team Council for that particular proposal.

Community Council & Rewards Program Efforts:

The Community Council will serve as an extension of the business development team to identify partnership opportunities (and field inbound partnership opportunities from the Doodles community) that will create additional benefits available to Doodles holders (e.g., specialized access and discounts) and/or reward Doodles holders who have held their Doodles the longest. Once received or identified, the Community Council will then present these partnership opportunities to the Doodles Team Council for review and approval.

Proposal Submission, Budgeting and Approval Process:

Proposal Submission:

Doodle holders may submit proposals to the Doodlebank discourse forum under one of our strategic pillars (Events, Entrepreneurs, Creators, Rewards).

Quarterly Budget Planning:

At the beginning of each calendar quarter, the Community Council submits to the Doodles Team Council for approval of a proposal which includes the overall strategy and proposed budget of Doodlebank funds which may be deployed for said quarter.

Approvals & Reporting on Progress:

The Community Council will have autonomy to approve proposals (and remit funds) for all events that do not utilize the Doodles brand beyond the name and limited signage/materials (e.g., a local Doodles meet-up). For all other proposals, the Community Council will present the same to the Doodles Team Council for review and approval. Additionally, the Community Council will hold monthly status updates for the community to discuss approved and pending proposals.

Community Council Proposal Review:

The Community Council review incoming proposals and take one of the following paths:

1. Approve and release funds (for specific community events)
2. Submit the proposal to the Doodles Review Council
3. Work with the proposer to refine the proposal before submitting to the Doodles Review Council
4. Reject proposals that are not aligned with our strategic pillars of community empowerment and holder rewards.

Doodles Team Review:

The Community Council will meet with the Doodles Team Council to review pending and recently approved proposals, rewards program opportunities, and community feedback bi-weekly. The Doodles Team Council will also establish a dedicated communication channel with the council for asynchronous communication. If the Doodles Team Council wishes to revoke any approval by the Community Council, the Doodles Team Council will have 5 business days to do revoke such approval and the Doodles Team Council will provide the Community Council with feedback as to why the proposal approval is being revoked.

Election of Doodle Watch:

With the election of the Doodle Watch, our objectives are:

1. Establish the community oversight over the community council
2. Develop a feeder program for future community council positions
3. Ensure the community’s voice is heard in council meetings

Members:

2 positions; however, we may add to the watch over time.

Doodle Watch Responsibilities:

• Attend Community Council meetings and take notes
• Ensure the mission and values of Doodles are being upheld
• Communicate council’s progress to broader Doodles community

Term:

3 months

Pay:

$6,000 per term

Doodle Watch Election Process:

Immediately after selecting the Community Council, nominations will open for the Doodle Watch. Community voting will take place by snapshot after a 7-day submission window.

Timeline:

• Amendment Vote: 4/5 - 4/8
• Community Council Submissions: 4/10 - 4/17
• Community Council Campaign & Interview Window: 4/18 - 4/25
• Announce Community Council Members: 5/1
• Define quarterly budget and proposal approval process: 5/1 - 5/31
• Doodle Watch Submissions: 5/2 - 5/5
• Doodle Watch Voting: 5/8 - 5/20
• Announce Doodle Watch Members: 5/21

Voting Info:

• Quorum (Stacks): 5%
• Majority of Yes or No.
• Abstentions count to quorum but do not affect yes/no votes.