green-jeff commented 1 year ago

MIP 003: Create and fund Engineering, Growth and Operations workstreams

Summary

This proposal is to create and fund three Metronome workstreams: Engineering, Growth and Operations.

The Engineering workstream is responsible for maintaining MET 2.0 and development on top of Metronome and the budding Metronome ecosystem. Initially, the engineering workstream is tasked to create new and innovative DeFi primitives that will enable MET 2.0 to integrate with other protocols and generate sustainable value for the DAO.

The Growth workstream is tasked with building out the Metronome community through traditional means (marketing, sponsorship, etc.) as well as through partnerships and cross-pollination with other web3 protocols.

The Operations workstream is responsible for facilitating coordination across the individual workstreams and MET DAO. This workstream is additionally responsible for all administrative tasks such as management of treasury, operations, legal, etc.

Motivation

Metronome will benefit from having dedicated workstreams focused on building, operating and growing the Metronome ecosystem.

Specifications

Engineering Workstream:

Objectives

Build new innovative products in the DeFi space
Maintain the Metronome smart contract codebase
Maintain the Metronome website and associated applications
Monitor the platform for risk
Work with auditing firms

Goals

Engineering is tasked with launching the first Metronome DeFi dapp to production during this cycle. This dapp is designed to drive TVL and revenue to the project.

Engineering is guided by the following KPIs:

TVL
Revenue generated

After the first cycle, there will be quantitative increases listed among the goals per these KPIs.

Blueprint

The Engineering workstream will develop new DeFi products and applications for Metronome. The Engineering workstream core team will include smart contract engineers, JS engineers, DevOps engineers, UI/UX designers and graphic designers. All Metronome products are audited before entering production, therefore the Engineering workstream will work with auditing firms to audit and test all code.

In addition to building new products, the Engineering workstream will maintain the Metronome properties, including the Metronome website and applications. The workstream will also monitor the platform for potential threats and establish processes to assess risk and mitigate potential issues. At launch, the engineering team will be comprised of mostly Metronome core team members and will make an effort to expand and onboard new members.

Budget

The Engineering workstream requests a 6-month budget of 930 ETH, distributed monthly at 155 ETH/month (approximately $255,000/month). This budget will be paid monthly in advance in ETH to the Engineering workstream multisig. This budget is for the following:

Provide competitive compensation for core Engineering workstream team (~$180K/month)
Monthly audits on all new code (~$50K/month)
Miscellaneous items, hardware, infrastructure, tools, etc. (~$25K/month)

Growth Workstream:

Objectives

Establish the Metronome product-market fit
Boost Metronome brand recognition through owned, earned and sponsored media
Increase Metronome brand visibility across the crypto and DeFi communities, both virtually and across leading industry events
Establish key strategic partnerships with leading crypto and DeFi projects

Goals

Growth is guided by the following KPIs:

Number of active partnerships
Number of followers/members (Twitter, Discord, Telegram)
Number of unique active community members

Growth is tasked with establishing blue chip launch partners to coincide with the production launch of the first dapp.

After the first cycle, there will be quantitative increases listed among the goals per these KPIs.

Blueprint

The Growth workstream will be focused on the overall growth of the Metronome Protocol. This workstream will be comprised of a combination of marketing, communications and business development professionals that will work together across their respective disciplines to increase the adoption of Metronome.

The Growth workstream will oversee all marketing activity related to Metronome on behalf of the DAO. This includes marketing activities associated with new Metronome products. The Growth workstream plans to utilize all channels to expand brand visibility, including but not limited to event sponsorships, Metronome's owned content and participating in community driven events.

In addition, the Growth workstream will include a team of business development professionals. This team will pursue strategic partnerships across the industry and increase the usability of the MET token through expanding the number of integrations available. The Growth team will include Metronome core members at launch and will rapidly expand to include community managers and ambassadors.

Budget

The Growth Workstream requests a 6-month budget of 1,128 ETH, distributed at 188 ETH/month (approximately $310,000/month). This budget will be paid monthly in advance in ETH to the Growth workstream multisig.This budget is intended to cover the following:

Provide a competitive compensation for the core Growth workstream team (~$80K/month)
Marketing campaigns for Metronome products (~$110K/month)
Event sponsorships (~$240K/quarter)
Travel for the Growth team (~$20K/month)
Miscellaneous costs and buffer for unexpected expenses (~$20K/month)

Operations Workstream:

Objectives

Collaborate with other workstreams to ensure the continued success of the Metronome protocol and help grow the ecosystem.
Engages with stakeholders (DAO members, partners, and workstreams) for improved coordination
Provide administrative support for the Metronome DAO and platform

Goals

The Operations workstream's primary goal is to keep Metronome running smoothly.

The Operations workstream will create a retrospective report on the progress and developments of each workstream and the project as a whole at the end of the cycle.

Blueprint

The Operations workstream intends to provide all administrative support for the DAO. This workstream will collaborate with major stakeholders to ensure continued development and expansion of the protocol. The Operations workstream team is comprised of product managers, project managers and finance professionals. Initially, the engineering team will be comprised of mostly Metronome core team members with a concerted effort to expand and onboard new members. At launch, the Operations team will consist of Metronome founding team members and expects to expand with other members in the near future as a concerted effort to become more decentralized.

Budget

The Operations workstream requests a 6-month budget of 654 ETH, distributed at 109 ETH/month (approximately $180,000/month). This budget will be paid monthly in advance in ETH to the Operations workstream multisig. This budget is intended to be used for the following:

Competitive compensation for the Operations workstream team (~$70K/month)
Administrative overhead (~$25K/month)
Legal and accounting professional fees (~$30K/month)
Miscellaneous expenses (~$30K/month)