GM61.1 : Create the “gmDAO Project Incentive Program”

Authors: calbear.eth, Ninja3

Proposal date: March 31st

Summary Problem: gmDAO needs additional revenue sources to stay cash flow neutral or positive. While we as a DAO have encouraged ideas for projects that generate additional revenues, we have never incentivized the deliverance of those ideas into formal projects. Therefore, individuals proposing projects to be launched through gmDAO take on personal risk in order to formulate projects for the DAO without knowing whether they will pass. Much of the time, this discourages would-be contributors from pursuing projects that could be potentially beneficial for the DAO and for them personally. The DAO needs to create a structure and foster an environment that is welcoming and shows commitment to members that would like to pursue revenue generating projects.

Proposal: Create the “gmDAO Project Incentive Program” in order to incentivize profitable ventures to be seeded by gmDAO.

Action steps:

Formation of the Project Incentive Award Committee (PIAC): Purpose of the committee would be to review business plans, provide feedback to strengthen the business case, and ultimately vote whether to a) give the award and b) send the project proposal directly to a full-DAO vote.

-Members apply to be on the committee -Voted on by the full-DAO -Top-3 by poll are added to the committee -Committee members will be compensated $500 USDC each per application review (up-to a maximum of 10 applications per year)

In the unlikely event that a PIAC member is not meeting acceptable review and feedback standards, they can be removed from PIAC at any time via 2/3rds vote of PIAC or a full DAO vote.

Sample application to join the PIAC here: https://docs.google.com/document/d/1_V5-jPMzHuiOcmhXlUT5DPksfSGMRpqlzKzUEBWL0hM/edit*

Process: To apply for an award, the applicant group would present a proposal (business-plan) for a project to the PIAC for review. PIAC considers the active proposal and provides feedback until the group agrees it is finalized. If passed by the full PIAC, a $10,000 award will be given to the applicant/applicant group as the initial funding for the project. The proposal would move directly to a full-DAO vote (skip discussion). If passed by a full-DAO, the applicants would pursue the project as slated in the proposal.

The requirements for the proposals are: -That they meet the mission statement of gmDAO -That all expenses/equity split/compensation rates are clearly accounted for -Be projected as cashflow positive to the DAO treasury over the proposed term -Preferential consideration would be given to projects that have some sort of reciprocal value to gm.embers -During the first year, this program would be exclusively available to gmDAO members -Be framed as a formal business proposal to the greatest extent possible

An acceptable review will adhere as closely as possible to this format: https://docs.google.com/document/d/1PKmI0X14yxV_iX4wCuI5FEKShHfgKJL6DDw2JaxmMjM/edit

Funding: Up-to 3 awards of $10,000 each will be allocated annually from the DAO treasury. Funded upon full-PIAC approval. In the event that no projects complete the full process during a given year, the awards will roll over into the following year. Additionally, the DAO treasury would pay PIAC members $500 per application review (up-to a max of 10 per year).

Risks: Impact on the treasury

Payout amount: $10,000 per award, maximum of $30,000 USD per year $500 per PIAC member per application review, maximum of $15,000 per year

Maximum exposure per year $45,000 or ~7.5% of current DAO treasury

How have you already contributed to the DAO? Current Community Engagement Manager

How do you want to contribute to the DAO going forward? Involvement with further DAO-seeded projects

Sponsors: Ninja3, calbear.eth