Summary

This proposal is for establishing a yearly budget of 60'000 USD for event expenses of the Business Development (BD) team to ensure attendance at the most relevant blockchain and crypto events worldwide to foster connections and spread the word about Spool DAO. At the beginning of the following year, the BD team will provide a summary of the costs for each event during the recent year to the DAO to show that funds are spent wisely. Any funds that are not used at the end of a year will roll over into the budget of the following year so that costs for the DAO remain consistent.

Scope

With 12 events for the year 2022 and a (so far) average cost of less than $4200 each (incl. ticket, flights, hotel, and allowance often attended by two members) the team believes that the return on investment for attendance is rather high. Our costs per event are lower than that of most other industry players. This is especially the case since the cost of flights for events has more than doubled on average since the beginning of 2022. Mainly driven by the stagflatory macro environment in combination with a strong demand for travel after the end of most lockdowns globally and a sharp commodities crunch (especially Crude in this case).

For this reason, the BD team proposes an amendment of the Business Development events and travel budget to fit these realities.

For 12 well-selected events per year, we propose a budget of 60'000 USD p.a. (average from above + safety buffer for unforeseen occurrences). Again, not used funds are not lost but roll over to the following year.

Motivation

The original Spool Business Development events and travel budget was calculated in a very conservative manner. It was expected that 1-2 people would visit about 5 events throughout the year 2022. With the addition of Priscila to the team and the opportunity to attend U.S.-based events, we were able to send team members to almost all of them (like Consensus, DCentral, BTC Miami and still coming up: Money 2020). Amazing connections have been made and some of the best partnerships we were able to sign have originated at the events that we attended this year.

Vote

With “Yes” you vote in favor of continuing the attendance of Spool BD team members at important blockchain and crypto events, according to the scope stated above. With "No" you are voting against this event budget for the BD team.