Season 02/03 Funding Proposal

This proposal is in service of the goals set out in our Season 02/03 plan. In our inaugural two seasons Refraction staged over 10 events worldwide—inviting thousands to experience what our DAO is building— collected 100+ works, and welcomed more than 1000 community members. Of this number, upwards of 500 were practicing artists and musicians.

For Season 02 and 03 RefractionDAO will continue our ongoing programming, collections, and commissions through our curatorial team, while also opening up a Creative Grants program through a worldwide open call.

RESOURCE ALLOCATION

A major learning from Seasons 00 and 01 is that Refraction is a purpose-based DAO, with a clear focus on our artists, events, and programming across our extended community.

The core team has worked on projects across Curatorial, Events, Drops, Founding Artists, Community, Metaverse, Editorial, Radio, Creative Technology, Partnerships, Communications, DAO-to-DAO and beyond. After the successful implementation of Seasons 00 and 01, and the knowledge gained from the work and building so far, the following resources will be allocated toward our ongoing programming and special projects for Seasons 02 and 03.

Compensation

Compensation will be distributed using Utopia, and a finalized compensation model matrix is currently being built out by the operations team of the DAO. Compensation will be in USDC, $REFACT and/or FIAT.

Budget

RefractionDAO will allocate a Season 02/03 budget of $250,000 USDC toward the festival, artists, team members, and collection; partnerships with spaces worldwide; repayment of costs; and emergent DAO initiatives. Allocation usage will be reported to the community through a monthly budget report.

Revenue

RefractionDAO will continue to build revenue through Season 02/03 budget with revenue generated through festival ticketing, our community NFT drops, an NFT platform launch, sponsorship, and partnership deals. It is our goal to use this funding to continue to build the community, support projects with partner DAOs, back artist initiatives, and enable emerging opportunities.

Token Allocations

A key goal for executing a Treasury Diversification was to keep tokens within RefractionDAO to support the community, and strategically distribute externally. Refraction will continue to allocate tokens to founding artists and team members, as well as DAO members based on their roles and work within the community.

INITIATIVES

Extensive projects developed in Seasons 00 and 01 will be released during the next two seasons. The team has been busy working on a Metaverse performance and exhibition space, as well as an editorial platform, that will feature writing, radio, NFT drops, and DAO-based content.

Our editorial theme for Season 02 will be "minted chaos", reflecting the reality of the rapidly-evolving space that we all live in.

We will continue growing our partnerships and events worldwide, and Season 03 will culminate with our most extensive initiative to date, a two-day festival during Art Basel Miami / Miami Art Week.

Our core contributors have also cultivated a Creative Grants program, which we believe will continue to grow our artist-run community.

Creative Grants will recognize initiatives including events, editorial, curatorial programs, radio, exhibitions, metaverse, discourse, artwork, drops, and other proposals relative to the DAOs Mission and Programming.

We will be developing a Creative Grants template / FAQ so that applicants can best put together relevant proposals for each area.

Operations are key to our sustainability, and we will move forward with a clear operations and production team compensated for their work across the board, and within the framework of our finalized Code of Conduct and Ethics for Refraction DAO and Governance structure.

Throughout our first two seasons, we have learned so much from our community, artists, and partners about what is important for Refraction. Through the next two, we look forward to seeing what ideas and concepts emerge as we expand even further

Special thank you - we also want to give thanks to our core team whose hard work has contributed to all of the above. Everyone's contributions have been seminal in what we have built so far, and the DAO is incredibly grateful for their contributions.