[FIP - 178] Flywheel Grant Renewal For 2023

Author

DeFi Dave

Proposal

Grant Flywheel $214.2k (50% in FRAX/50% in FXS) over the next year to continue activities promoting the Frax ecosystem and producing high-quality DeFi content.

Background

Over the past 6 months, the relationship between Flywheel and Frax has done nothing but blossom and has played a pivotal role in shaping the narrative about Frax. The Frax Core Team have proven themselves to be the most talented builders in all of DeFi, shipping a plethora of primitives over the past year. But before Flywheel existed, Frax did not have an effective strategy for promoting their brand or educating the wider public. As the old mantra goes, if a tree falls in the forest and there is no one there to hear it, does it make a sound? It was clear that the Frax ecosystem needed assistance on that front and that help was not going to come from anywhere else but the community.

[ You can read more about Flywheel and its performance over the last grant period in the original post in Frax Governance forum. ]

Proposed Grant and Budget Breakdown

Total Cost: $214.2k

• Half of the grant will be streamed via llamapay and half the grant will be granted lump sum at the end of the year.

• Of what is streamed via llamapay it will be 80% FXS and 20% FRAX. Of the lump sum it will be 80% FRAX and 20% FXS

Grant Components

• $104k to produce weekly episodes of Flywheel

• $52k to produce weekly episodes of Frax Check

• $25k for IRL Events

• $15.6k for business development representation

• $10k to produce Frax-branded merchandise

• $5.1k for patronizing art and content

• $2.5k for Frax-branded NFTs

Extra Note

• Section in 2024 grant proposal about the progress of independent income streams of Flywheel.

Team

And just like last time, the people who are leading this initiative are:

• Sam McCulloch (@traders_insight) long-time member of the Frax community. Executive producer of all content, co-host of Frax Check, contributor to the Flywheel website.
• DeFi Dave (@defidave22) Day Zero Fraximalist. Co-host of Flywheel and Frax Check, contributor to the Flywheel website.
• kapital_k (0xkapital_k) DeFi/Gaming/Tokenomics enthusiast and early Frax supporter. Co-host of Flywheel and Frax Check.

Motivation

Flywheel has firmly established its role in the ecosystem as the destination for information and alpha regarding Frax. As an organic development, Flywheel essentially fills the role of a marketing department and due to its quality and reach is able to reach the target audience Frax is looking for. Yet like any department, Flywheel still needs funds to keep the lights on in order to continue pushing content out as well as interact with the wider community in a thoughtful and genuine manner. We hope with this round of funding we will be able to keep performing our duty as stewards of the Frax ecosystem and spreading Frax far and wide as it enters the next stage of its development.

From the motivation section of our last proposal, there are still several points that ring true. Flywheel still aims to be the “Bankless of Frax” and take the wheel in driving the narrative for Frax and Foundational Deep DeFi forward. There is simply just too much at stake to do nothing and merely “hope for the best”, we need to keep actively engaging the wider DeFi community and beyond in order to inform, educate, and entertain them about Frax and its surrounding ecosystem. We strongly believe that Frax will reach Ethereum-level in size and along the way, Frax can not only scale technologically on-chain, but must scale socially off-chain as well.

Flywheel has done an excellent job representing Frax so far and we are here to keep pushing the momentum forward. As mentioned in the last two proposals, the Frax ecosystem is growing to become much bigger than the core team alone and numerous contributors and commentators have arisen that have helped advance the protocol into the future. Flywheel is here to organize and shine a light on Frax, carrying the Fraximalist torch up high for those who seek it.

Proposal

• For: Grant Flywheel $214,200 (split 50/50 between FRAX and FXS) to continue producing Frax-related content online and IRL
• Against: Do Nothing