Take Out Loan To Hire Full Time Roles

Proposal Discussion Channel: https://discord.com/channels/584743270828081152/974542665230217217

Proposal Champion: Leonidas

Proposal Stakeholder: Leonidas

Overview: This proposal is for taking out a 75,000 USDC loan from Leonidas at a 0% interest with no collateral and to approve spending it on the salaries of a newly formed Community and Brand team which the DAO is currently in the interview process for. It is also to approve 28 total CryptoSkulls to be committed to the team's compensation package which will be used to incentivize hitting certain floor prices. The weekly burn rate is not to exceed 6,250 USDC which means that this funding will last a minimum of 12 weeks if spent to the fullest extent allowed by this proposal. CryptoSkulls DAO needs a full-time Community and Brand Team in order for us to execute at a high level and grow. Growth requires deploying capital upfront and this loan enables that without selling CryptoSkulls at the current low floor price. The general idea is that the work done by this team would increase the value of the CryptoSkulls in the Crypt and thus more than pay for itself 16 weeks from now. At a current CryptoSkulls floor price of 0.4Ξ (currently $830.00) and with 1,480 CryptoSkulls still in The Crypt if the benefits from deploying 75,000 USDC is able to raise the CryptoSkulls floor just 0.03Ξ it would have been worth it to have deployed these funds. If you account for the value created for the holders of all 10,000 CryptoSkulls if these efforts increased the floor by even 0.004Ξ it would have been worth it to have deployed these funds. And this napkin math doesn’t even account for Demonic Skulls of which The Crypt holds 1,480 Demonic Bloods for. We owe it to ourselves to take this step and build our organization.

Funding Transparency: Leonidas will send 75,000 USDC to the DAO execution wallet (0x3318339Ab931D30dCc5e70b112a6330eCC060085) which is only to be used for paying the salaries of the newly formed Community and Brand Team at a weekly burn rate not to exceed 6,250 USDC. The terms of the loan are that it must be paid in full within 16 weeks of the DAO execution wallet receiving the full amount of the loan. The loan has no interest and no collateral is provided. The loan simply must be paid off in those 16 weeks and the DAO should be considering methods to build up USDC in The Crypt in preparation for repayment during this period. Leonidas will help lead the Community and Brand team but as a volunteer and he will not be compensated with any funds from the loan. Additionally, this proposal requests the approval to commit up to 28 CryptoSkulls total to be part of the compensation package for incentivizing and rewarding the Community and Brand Team. Specifically, floor CryptoSkulls with unclaimed Demonic Blood. Up to 4 skulls can be earned after completing 2 weeks of work, up to 8 skulls can be earned if CryptoSkulls hit a 1Ξ floor before the end of 2022, up to 8 skulls can be earned if CryptoSkulls hit a 2Ξ floor before the end of 2022, and up to 8 skulls can be earned if CryptoSkulls hit a 3Ξ floor before the end of 2022. Keep in mind that these 28 reserved skulls will be spread out across multiple people on the team and the incentive structure will be outlined in their contracts.

Additional Details: Upon completion of hiring the Community and Brand team the following steps will be taken.

1. Onboarding

All new hires must go through an onboarding process.

2. Research

Perform an in-depth market analysis of the top Web3 brands in the space.

3. Plan

Create a roadmap, define procedures, and assign responsibilities in the following areas:

-Brand Activations and Holder Experiences

Example: Holders only event at an NFT conference with an open bar, live performances etc.

-Channels and Content

Example: To generate excitement for an upcoming brand activation, define a teasers/announcements timeline and work with a video production agency and our in-house design team to create supplemental content that we can push out on our channels.

-Community Engagement

Example: Produce high quality, weekly town hall Twitter Spaces from a professional studio setup with a mic, soundboard, intro music, etc. Also have a time-based schedule with segments for playing games, giving community members a platform, live performances, having guests on, etc.

-Community Initiatives

Example: Work with community members to support bottom-up initiatives through DAO micro-funding. For example, any community member that wants to can write a 500 character or less “mini proposal” that gets combined with the rest of the “mini proposals” and then every week we all vote on Snapshot which “mini proposal” should get a CryptoSkull and thus be executed. It could also be done in reverse with a bounty where every week community members in 500 characters or less explain something they did that week that benefitted the community and the community would vote on which is most deserving of a CryptoSkull.

4. Execute

Begin implementing the roadmap and defined procedures.

Timeline: The Community and Brand Team should be hired ASAP and the loan must be paid in full within 16 weeks of the DAO execution wallet receiving the full amount of the loan.

Team Experience: Leonidas has experience working as a software engineer at Block (formerly known as Square) as well as at early-stage startups. He has been involved in the crypto space for 8 years and the NFT space for 4 years. For the future Community and Brand Team hires 19 interviews have been conducted so far and there is a high level of confidence that we can bring on excellent, hard-working individuals with relevant experience to help us build our DAO and community into what we all know it can become.

Loan Repayment Address: 0x9aAF2F84AfB2162A1efA57018bd4B1Ae0dA28ccE