Q3 Recap

Outcome

In Q3 New Order has publicly announced incubation of two projects: Y2K Finance (launched) and IVX (still in development). The team has grown as a lot of project founders joined the roster to flesh out their ideas and promptly launch them through our incubation program. Further, there are currently four projects that are incubated which are expected to be communicated for DAO voting in late Q4 2022 / early Q1 2023.

Q4 Budget

Note the following:

• Sub DAO leads are paid USDC on a monthly basis, while NEWO payments are paid on a quarterly basis using a 20 day MA token price. 
• NEWO payments will be locked for a period of 18 months upon distribution by all leads, ensuring incentive alignment with the long term performance of New Order. 
• Team members that have a vested core team token allocation are not eligible for quarterly NEWO distributions.

Budget rationale: 

• In Q4 New Order will be incubating 4 new projects with ranging theses. Considering the growth of the team, we are comfortable with venturing into infrastructure and the NFT space further expanding the versatility of the incubator. 
• New Order has also taken on a 2nd Cohort for the accelerator program receiving 180 applications. Even though the number of incoming applications has decreased, in comparison to the 1st Cohort, the quality of applicants has been much higher from both the idea and team standpoint. 
• Similarly to Q3, we are expecting to continue funnelling founders through our EIR program. Team expansion has been primarily seen on the Venture and Engineering workstreams. While the project curated by the onboarded founders is under development the EIR's are primed to move to a leading position, diving into the protocol mechanics and building the go-to market strategy. Concurrently, the DAO leads and the EIR's are structuring a core team for the projects to act as long term contributors, solidifying a working structure around the protocols. 
• Since New Order extends an interest free loan to the incubated projects, most of the EIR and development costs are expected to be recouped from the projects raise, ensuring a sustainable business model with ample assets for runway, research and incubation.

Payout Mechanisms

SubDAO Lead Payments

The SubDAO leads will be receiving quarterly payments in NEWO to undertake their roles as stewards for the project. These payments would be distributed at the end of the quarter and would be contingent on SubDAO lead performance. 

Project Work

• SubDAO leads will assign budgets to projects in each epoch.
• Projects can submit proposals to the SubDAO leads as requests for funding.
• Project contributors will then self-organise, dividing up the allotment between participants via a project-based Coordinape circle.
• Once finalised, SubDAO leads will distribute the agreed amount of compensation to project contributors through Dework, and/or Sablier. 

Tracking Project Contributions

• SubDAO leads will help administer project-based Coordinape circles to track contributions.
  • Note: Not all projects require Coordinape circles as some projects have pre-defined compensation or consist of < 2 members. 
• Who can participate?
  • DAO members can contribute to multiple projects and therefore, partake in multiple Coordinape circles. SubDAO leads can issue GIVE tokens in each projects Coordinape circle to different contributors, but will NOT be eligible to receive GIVE tokens. 
• When do the circles take place?
  • Once a project nears its completion, all contributors would be invited to a Coordinape circle where they can allocate GIVE tokens to other team members based on their performance. 
• When will payments take place?
  • Contributor payments will be made on a monthly basis, or at project completion, whichever is longer.