MIP-016: Enginering, Growth, and Operations Workstream Budget Proposal #17
Description
MIP 016: Engineering, Growth and Operations Workstream Budget Proposal
Summary
This proposal is to approve funding the Engineering, Growth and Operations workstreams for the next 3 months. All proposals will be paid in a combination of ETH and MET based on current rates of $1650 and $1.10, respectively.
Specification
Engineering Workstream
Progress
The engineering workstream successfully launched Metronome Synth into production on Optimism . The workstream has continued to maintain the Metronome Synth protocol and website.
Objectives
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Ongoing development and maintenance of Metronome Synth Protocol on Ethereum and Optimism
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Maintain the Metronome smart contract codebase
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Maintain the Metronome website and associated applications
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Monitor the platform for risk
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Work with auditing firms
Goals
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Launch Layer0 support.
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Launch enhanced functionality for the MET token.
Engineering is guided by the following KPIs:
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TVL
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Revenue generated
Budget
The Engineering workstream requests a 3-month budget of approximately $250,000/month. This budget will be paid monthly in advance in ETH and MET to the Engineering workstream multisig. This budget is for the following:
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Provide competitive compensation for core Engineering workstream team (~$120K/month)
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Quarterly audits on all new code (~$50K/month)
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Miscellaneous items (~$40K/month)
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Hardware, infrastructure, tools, etc. (~$40K/month)
The payout schedule will be as follows:
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September: 111ETH; 60,772 MET
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October: 100 ETH; 77,272 MET
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November: 89 ETH; 93,772 MET
Growth Workstream:
Progress
Metronome Growth has continued to be guided by the Brand Playbook that was created. The Growth team secured a grant from the Optimism Foundation following the launch on Optimism in September.
Objectives
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Successful launch of the new MET token functionality.
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Building vibrant community of DeFi enthusiasts and DeFi professionals
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Continuing effort around Metronome brand recognition through owned, earned and sponsored media
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Build pipeline of strategic partnership to grow in both TVL, volume and unique addresses
Goals
Growth is guided by the following KPIs:
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Number of active partnerships
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Number of followers/members (Twitter, Discord, Telegram)
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Number of unique active community members
Budget
The Growth workstream requests a 3-month budget of approximately $180,000/month. This budget will be paid monthly in advance in ETH and MET to the Engineering workstream multisig. This budget is for the following:
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Provide a competitive compensation for the core Growth workstream team (~$80K/month)
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Marketing campaigns for Metronome products (~$50K/month)
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Travel for the Growth team (~$20K/month)
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Miscellaneous costs (~$30K/month)
The payout schedule will be as follows:
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September: 77 ETH; 48,136 MET
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October: 69 ETH; 60,136 MET
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November: 61 ETH; 72,136 MET
Operations Workstream:
Progress
The Operations workstream continues to coordinate and help Metronome run smoothly.
Objectives
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Collaborate with other workstreams to ensure the continued success of the Metronome protocol and help grow the ecosystem.
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Engages with stakeholders (DAO members, partners, and workstreams) for improved coordination
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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 3-month budget of approximately $150,000/month. This budget will be paid monthly in advance in ETH and MET to the Engineering workstream multisig. This budget is for the following:
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Competitive compensation for the Operations workstream team (~$70K/month)
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Administrative overhead (~$25K/month)
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Legal and accounting professional fees (~$40K/month)
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Miscellaneous expenses (~$15K/month)
The payout schedule will be as follows:
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September: 62 ETH; 43,363 MET
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October: 56 ETH; 52,363 MET
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November: 50 ETH; 61,363 MET