MIP-016: Enginering, Growth, and Operations Workstream Budget Proposal

[green-jeff]

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

• Ongoing development and maintenance of Metronome Synth Protocol on Ethereum and Optimism 

• Maintain the Metronome smart contract codebase

• Maintain the Metronome website and associated applications

• Monitor the platform for risk

• Work with auditing firms

Goals

• Launch Layer0 support.

• Launch enhanced functionality for the MET token.

Engineering is guided by the following KPIs:

• TVL

• 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: 

• Provide competitive compensation for core Engineering workstream team (~$120K/month)

• Quarterly audits on all new code (~$50K/month)

• Miscellaneous items (~$40K/month)

• Hardware, infrastructure, tools, etc. (~$40K/month)

The payout schedule will be as follows:

• September: 111ETH; 60,772 MET

• October: 100 ETH; 77,272 MET

• 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

• Successful launch of the new MET token functionality.

• 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 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: 

• Provide a competitive compensation for the core Growth workstream team (~$80K/month)

• Marketing campaigns for Metronome products (~$50K/month)

• Travel for the Growth team (~$20K/month)

• Miscellaneous costs (~$30K/month)

The payout schedule will be as follows:

• September: 77 ETH; 48,136 MET

• October: 69 ETH; 60,136 MET

• November: 61 ETH; 72,136 MET

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 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: 

• Competitive compensation for the Operations workstream team (~$70K/month)

• Administrative overhead (~$25K/month)

• Legal and accounting professional fees (~$40K/month)

• Miscellaneous expenses (~$15K/month)

The payout schedule will be as follows:

• September: 62 ETH; 43,363 MET

• October: 56 ETH; 52,363 MET

• November: 50 ETH; 61,363 MET

[jcvernaleo]

September workstream payments:
https://etherscan.io/tx/0x92f7984277019f641e9f9f63abcb48953501eadad8bc776e30b78811dd49bac1

[jcvernaleo]

October workstream payments:
https://etherscan.io/tx/0x6f9ea2b19f7a65d0ec5a3a2ac08d3e14a0d8536923ba427616c1c856cfeca6c9

[jcvernaleo]

November workstream payments:
https://etherscan.io/tx/0xac64a2efb8215ac426986eb8b067d9fa7d23a37321d75114b658011079a2bbfd