Cyphr 12 month retainer 2024/25

Author:

Cyphr

Proposal date:

August 21, 2024

Summary:

This proposal is to retain me (Cyphr) as a full-time contributor to the DAO & studio. This proposal would cover the period of September 2024 - September 2025.

Over the past 12 months I have worked full time undertaking the tasks outlined in GM74.1 : Cyphr 12 month retainer 2023/24. Additionally I have taken on new responsibilities created with the formation of gm.scribe (ordinal art platform) & gm.generator (generative minting as a service platform).

General responsibilities remain mostly unchanged, with the exception the gmDAO twitter account which has since been handled by an external agency. New responsibilities have typically revolved around business development & project management for gm.generator, which has proven itself to be a reliable and cost efficient revenue source.

****To reflect current lack of direct inflows to the DAO treasury (the majority of inflows go directly to the studio/generator/scribe treasury), I am proposing that a percentage of my retainer be subsidised by gm.studio. The overall retainer will remain the same as the previous proposal, as my hours are unchanged, but splitting it across gmDAO/gm.studio will mitigate the direct impact to gmDAO’s run rate.

Should the market situation not improve and our treasury does not see an increase in inflows in the coming months, I would be prepared to review my retainer in order to ensure the longevity of the DAO.

Update: During the discussion phase of this proposal, a number of members requested increased transparency around the DAO financial situation & specifically that of gm.studio. As such, we have created two documents which provide both a high level overview of the DAO’s financial health, as well as an in-depth document which details the studio’s current liquidity as well as major inflows/outflows.

The DAO overview can be found here: https://github.com/gmdaoeth/Financial-data/blob/main/gmDAO%20financial%20snapshot.pdf

The studio finance document is available upon request: contact Cyphr via discord or at Cyphr@gmdao.org

How have you already contributed to the DAO?

During my previous retainer the following milestones were achieved:

• Provided employment opportunities for over 20+ individuals. Mostly DAO members.
• Launched our first B2B product (gm.generator).
• Won our first major B2B project: Ledger ($100K one-time revenue).
• Won our first major B2B ongoing client: MakersPlace.
• Launched gm.scribe, generating over $100K revenue with it’s first sale.
• Completed DAO rebrand.
• DAO website relaunch.

How do you want to contribute to the DAO going forward**?**

For my proposed retainer my primary goals are:

• Create, rebalance & recapture revenue streams to maintain treasury above 500k.
• Win 4 net new gm.generator clients.
• Generator secures 100K+ ARR (annual recurring revenue).
• gm.studio ‘relaunch’ (new drops, dedicate more budget & focus on past works).
• Develop a product that is member focused, not revenue driven.

Risks:

High impact on treasury

Payout recipient:

cyphr.eth

Payout amount:

gmDAO

30 hours a week / 100 hours a month @ $100/hour =

$12,000 per month / $144,000 total.

gm.studio

5 hours a week / 20 hours a month @ $100/hour =

$2,000 per month / $24,000 total.