XIP 10: Hiring a Dedicated CMO

Description

Hire a compensated Chief Marketing Officer (CMO) role to drive the collection forward in the best interest of the community.

Category: Treasury

Status: New

Motivation

Unlike other PFP NFT collections, ExpansionPunks is a fully-decentralized project – meaning there are no inherent “core team” members running the show. From the very beginning, this collection and community was designed to be community-led. All secondary royalties (5%) fund the ExpansionDAO Treasury wallet (200+ ETH in funds); the Founders do not receive any royalties. The community decides how that Treasury is spent (via DAO governance). This proposal is about using that Treasury to establish a sustainable role for ongoing community leadership.

Key Terms / Background (optional)

Superfluid: https://www.superfluid.finance/home

Details

Detailed Job Description (PDF): https://drive.google.com/file/d/1IE1i9mZAjrnOT6ZhyJbv5v3NEH5t9rJU/view?usp=sharing

Implementation

1. Founders & Co-Mktg Leads to post the role in various forums, while also leveraging organic community connections to source potential candidates
2. Founders to publish an application form to collect applicants
3. Recieve applications via form
4. Founders & Co-Mktg Leads to conduct interviews with potential candidates
5. Founders & Co-Mktg Leads to select final candidate
6. Final candidate presented to community for approval via DAO Governance (Snapshot vote)
7. If candidate is community-approved > DAO Ops/MSW to configure Superfluid compensation (2 eth/mo) and establish 2% secondary royalty compensation process
8. CMO to begin in role

Timeline

Application period (#3 in Implmenetation above) will be open as hiring for a role of this significance should not be forced to a timeline - we need the right candidate. This propsal expires if a CMO candidate has not been identified by end of calendar year 2022 (or if a subsequent XIP nullifies this one). Once hired, the CMO begins a 2-month duration guarantee for on-boarding. This is an important time for the CMO to establish operational processes and baselines for ongoing performance measurement. After this 2-month guarantee, the role is subject to the will of the community – i.e. community members can propose changes (including role termination) via DAO governance (snapshot proposals & community votes). Thus, it’s important the CMO establish clear communication and proof of impact (KPIs) to sustain the community’s favor.

Cost

To acknowledging the significance of this role, compensation is a mix of “fixed” and “variable” amounts to create incentive alignment through performance-focused compensation.

Fixed: 2 ETH/MO, distributed via Superfluid, an on-chain money streaming protocol that allows for automated, recurring, programmable cashflows PLUS Variable: 2% of all secondary gross sales on marketplaces that honor royalties (e.g. Opensea, LooksRare, etc.) during tenure in role, distributed monthly (excludes royalties from purchases by our own DAO funds, i.e. “floor sweeps”). This 2% of gross sales represents 40% of the royalties received by the DAO (5% collection royalty) – and serves to align the CMO’s incentives with those of the community. As the collection performs (e.g. greater sales volume, rising floor price), the CMO is compensated in kind.