FFIP-10: $SOCIAL GTM Budget

Summary

Forefront and Index Coop are launching $SOCIAL, the world's first social token index. $SOCIAL will become one of Forefront's flagship products, accruing value to the DAO in multiple ways. This proposal requests funds to ensure that the launch is a success.

Motivation

The future of web3 is $SOCIAL

Tokenized communities use tokens to coordinate around the proliferation of a meme.

Thus, social tokens are an investment in culture.

Web3 enables communities to unlock value in unprecedented ways. People coming together to build, create, learn, curate, and vibe is valuable, and social tokens represent that value in increasingly rich ways.

In other words, tokenized communities are platformless social networks, and social tokens are the tool that enable these communities to coordinate and grow.

This is the future of digital communities.

$SOCIAL is Forefront’s Social Token Index, launched in partnership with Index Coop. It is the first index that tracks the growth of the social token economy.

We believe that unparalleled value will accrue to these communities over the coming years as we continue to learn more about how web3 can unlock new forms of coordination, creation, and relationships.

While DeFi protocols are innovating at the frontier of finance, tokenized communities are innovating at the forefront of culture. As the folks from Seed Club like to say, “tokens give communities superpowers,” and $SOCIAL captures those superpowers.

Value Proposition to Forefront

Revenue Generation

Forefront will receive a 0,78% streaming fee on assets under management. This could become a substantial revenue generator over time.

Branding

​​Forefront’s name will be associated with the leading social token financial product in crypto.

The S&P, Dow Jones and DefiPulse all have great name recognition. Envision CNBC, Bankless and others referencing the Forefront $SOCIAL index.

Flagship Product

This will become one of our flagship projects. The go-to metric for anyone following the growth of the social token space. An easy-to-understand, industry-referenced metric that includes our name.

Metagovernance

Forefront will accumulate metagovernance voting power in other social token communities. This strengthens our ties with our social token partners in the space and also creates the potential for a metagovernance hub within Forefront’s discord.

Expand Our Audience

$SOCIAL is unlike the typical social token product. It attracts a different type of crypto user - the investor. $SOCIAL’s success will bring a new audience into the Forefront ecosystem.

Future Investable Products

The successful launch of $SOCIAL will open the door for further products in the future.

Specifications

Goals

• To launch the industry’s first social token index;
• To create branding and marketing materials necessary for a successful product launch;
• To leverage the creativity and talent of the Forefront community during $SOCIAL’s launch;
• To be on track to attract AUM over $1.5M in the first 6 months;
• To expand Forefront’s reach (followers, members, etc) by creating a DeFi friendly product that caters to a new audience.

Objectives and Key Results (OKRs)

• $SOCIAL available on TokenSets and popular dexes (e.g Uniswap V3);
• $SOCIAL generating revenue for the FF DAO, tracking $1.5M AUM in first 6 months;
• Forefront accumulating Metagovernance voting power throughout the social token sector.

Deliverables

• An investable product generating revenue for the DAO;
• Professional graphics to include in $SOCIAL’s marketing campaign across various platforms (mirror articles, twitter posts, Forefront marketplace, etc);
• Professional marketing materials;
• Launch articles (mirror post, potential $SOCIAL manifesto);
• A Social Media GTM plan - fully executed;
• $SOCIAL capturing the top SEO result for “social token index”;
• A list of bounties for the community to contribute to the product’s success;
• The launch of the Forefront Metagovernance Council (FMC) along with a metagovernance channel in Discord.

Duration

• 3-month initial launch period (one month prior, 2 months post launch);
• Ultimately, the project would be ongoing.

Budget

A total of $12,000 USDC is requested for the launch. The breakdown is as follows:

• Bounties: $7500 (includes logo, articles, memes, merch, twitter threads, etc)
• Graphic Design Work: $2500 (design work for articles, tweet threads, marketing materials, etc)
• Research/Analytics: $2000 (Nansen, data analyst research, etc)

Quorum

• Quorum: Minimum 5% of all currently circulating $FF (excluding treasury tokens) or 43119.2 $FF must participate for the proposal to pass.
• Passing Threshold: 65% or more of voting members must vote YES for the proposal to pass.

Vote

Yes - Vote YES to approve $SOCIAL GTM Budget No - Vote NO to reject $SOCIAL GTM Budget

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Value. Culture. Community