MIP-008: Engineering, Growth and Operations Workstream Budget Proposal
Summary
This proposal is to approve funding the Engineering, Growth and Operations workstreams for the next 4 months. All proposals are based on the current ETH rate of $1640 and will be paid on the 24th of each month.
Specification
Engineering Workstream
Progress
The engineering workstream was tasked with developing the first application for the Metronome ecosystem. This was accomplished during the first six months with the launch of Metronome Synth into beta in January, 2023.
Objectives
Development and maintenance of Metronome Synth Protocol
Maintain the Metronome smart contract codebase
Maintain the Metronome website and associated applications
Monitor the platform for risk
Work with auditing firms
Goals
Launch Metronome Synth into Production.
Engineering is guided by the following KPIs:
TVL
Revenue generated
Budget
The Engineering workstream requests a 4-month budget of 620 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 (~$120K/month)
Quarterly audits on all new code (~$80K/quarter)
Miscellaneous items, hardware, infrastructure, tools, etc. (~$25K/month)
Growth Workstream:
Progress
Following product-market fit research, Metronome created a brand playbook that was shared with various media outlets which resulted in multiple placement across Youtube/twitter/digital news outlets and pipeline of potential collaboration.
Objectives
Successful launch of Metronome Synth into Production
Building vibrant community of DeFi enthusiasts and DeFi professionals
Continuing effort around Metronome brand recognition through owned, earned and sponsored media
Build pipeline of strategic partnership to grow in both TVL, volume and unique addresses
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
Budget
The Growth Workstream requests a 4-month budget of 752 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:
Progress
The Operations workstream continues to coordinate and help Metronome run smoothly.
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.
Budget
The Operations workstream requests a 4-month budget of 436 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)
MIP-008: Engineering, Growth and Operations Workstream Budget Proposal
Summary
This proposal is to approve funding the Engineering, Growth and Operations workstreams for the next 4 months. All proposals are based on the current ETH rate of $1640 and will be paid on the 24th of each month.
Specification
Engineering Workstream
Progress
The engineering workstream was tasked with developing the first application for the Metronome ecosystem. This was accomplished during the first six months with the launch of Metronome Synth into beta in January, 2023.
Objectives
Development and maintenance of Metronome Synth Protocol
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 guided by the following KPIs:
TVL
Revenue generated
Budget
The Engineering workstream requests a 4-month budget of 620 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 (~$120K/month)
Quarterly audits on all new code (~$80K/quarter)
Miscellaneous items, hardware, infrastructure, tools, etc. (~$25K/month)
Growth Workstream:
Progress
Following product-market fit research, Metronome created a brand playbook that was shared with various media outlets which resulted in multiple placement across Youtube/twitter/digital news outlets and pipeline of potential collaboration.
Objectives
Successful launch of Metronome Synth into Production
Building vibrant community of DeFi enthusiasts and DeFi professionals
Continuing effort around Metronome brand recognition through owned, earned and sponsored media
Build pipeline of strategic partnership to grow in both TVL, volume and unique addresses
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
Budget
The Growth Workstream requests a 4-month budget of 752 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:
Progress
The Operations workstream continues to coordinate and help Metronome run smoothly.
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.
Budget
The Operations workstream requests a 4-month budget of 436 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)