MIP-008: Engineering, Growth and Operations Workstream Budget Proposal

[green-jeff]

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)

• Miscellaneous expenses (~$30K/month)

[jcvernaleo]

Month 1:
Eng: https://etherscan.io/tx/0xdff6e4003dbfb46d8b7b21c3dc733cd6fe6cc85952af4e6948eaa868f91dcabe
Op: https://etherscan.io/tx/0x11c7f437dd8086af19e53ebc9bc2d5162bc47933057395da5e8ab2b47f46db9e
Growth: https://etherscan.io/tx/0x1dd02f2a1ce07de2885a1792c324b9e4bc14e685ce6cc7380e40019f6ce23376

[jcvernaleo]

Month 2:
Eng: https://etherscan.io/tx/0x48b81b6b1c08f7b1d589adf09e02b2839f16c21cb0eb50c144fd00086acaf569
Growth: https://etherscan.io/tx/0x09a29426b82cb62185c44c0a7b63cf1f67a81a1d90d45fb88f10526b814d6c75
Op: https://etherscan.io/tx/0xeee212f9c02bfd550d563fb89583c1ae74e2af47ff6d2287e0825e4edba09e48

[jcvernaleo]

Month 3:
Eng: https://etherscan.io/tx/0xbdfe3d6cba1727d6984b1bf77d973def47202295319937bd9dacc6d3b829f6ae
Growth: https://etherscan.io/tx/0xe4c48eff51da4438b3993aaac283a1f74d5b7cc2bb0e0e45c9bb645aac88db32
Op: https://etherscan.io/tx/0xd7c00513a1bc55817a2ac1406b43a2fd49dac8f8b3f028c3cf331dbf58a5889a

[jcvernaleo]

Month 4:
Eng: https://etherscan.io/tx/0x6dbd0d1b416b535d50c569b26f6650e68564d28f6964ef085b61fb8b446c8770
Growth: https://etherscan.io/tx/0xaf0d31e9142f6411e57cf42f3c12ff8613c9084da81573de9f43569a80caee28
Op: https://etherscan.io/tx/0x20d4f544e697efc9283845410badaad1c29c6abb3153b9fc54fbd5c86f85a274