RFF: DeFi Basecamp Expenses

Voting ended over 3 years agoSucceeded

With the successful conclusion of the first cohort of DeFi Base Camp, we're now launching the second cohort to accelerate 8-10 DeFi, MetaFi, and Web3 projects.

Our partner, Outlier Ventures, has been accelerating blockchain-based startups since 2014 and has built a portfolio of startups with a combined value of $2B+, including Cosmos, Chainlink, IOTA, DIA, Boson Protocol, Biconomy, etc.

The goal for this program is to support and accelerate early-stage DeFi projects by leveraging both New Order and Outlier Venture's resources. To help teams scale their business, DeFi Base Camp offers a network of leading DeFi mentors, a series of workshops, connection to layer one blockchains, liquidity providers, and investors, along with support to token design, fundraising, business planning, pitch practice, legal, and marketing.

The first cohort (April 2022) has graduated six teams including Obey, Sumeria, IdentDeFi, Kima, Bright Union, and LazyTrade. These six teams were selected out of over 290 applicants, and raised a combined $3m in just under 12 weeks. More info on Cohort 1 here. The expense for the first cohort was 450K, which is within its approved budget of 600K. The second cohort (Sep 2022) is expected to have 8-10 projects.

New Order expects to receive 1-1.5% of the token supply (or equity) of each project in the accelerator program. DeFi Base Camp will be governed by the New Order DAO community, ensuring proper transparency and task delegation. The candidates for DeFi Base Camp will be shared soon and will be subject to a vote.

New Order estimates to spend $60k per project to run the DeFi Base Camp accelerator program. This budget will allow engagements to be well staffed resulting in effective execution of acceleration. The contributor budget would further promote assembling an ecosystem of builders as the engagements will be frequent, encouraging contributors to have long term goals in mind.

Thus, we propose generating a $600k budget for 6 months to fund 2nd DeFi Base Camp program and launch 8-10 accelerated projects.