Automatically allocate 2% of fees to marketing

Community Chatroom (DISCUSSION)
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[moved here from original post]

In a market of fierce competition, which will grow even stronger, the need to coordinate professional marketing efforts, globally, is clear. Being a LP is nothing short of running a business. A business needs marketing.

Numbers

Roughly $150k was the 24hr fee volume on March 1st 6pm UTC. This would equate to $3k per day / $90 k per month / $1 million a year right now.

For this budget

a team of marketing specialists can be put together to market Bancor’s DEX
investments into the typical online marketing strategies can be funded
proper ad planning and analysis performed
additional creative campaigns invented
ad-games created

Legal thoughts

The Bancor Foundation could setup a legal entity that receives these funds daily into a wallet. I assume, due to marketing being placed in the real world, a real world legal entity is needed, rather than just a DAO. A DAO could however control the decisions made in such entity.

best form of entity to be researched as per tax laws.
entity’s statues to define:
— DAO controlled
— profits can only be reinvested into the entity itself
— cap on team’s wages

Looking forward to the feedback

PAV

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I think a great place to start with marketing is Brave Ads. It’s Ethereum-native, and respects the users.

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I think using Brave Ads for whenever we want to go on a marketing campaign is an excellent idea, hits our market perfectly. I do think that the advertisement should be paired with some sort of promotion like that of a trading competition.

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Accidentally deleted this, my bad. Reposting…

Since I’ve since come around to agree with the OP’s suggestion, if this ends up getting the go ahead, I’d be more than assist with building out and executing a marketing strategy. In the long ago (1998), I co-founded BUYandHOLD.com, which received a patent for its dollar-based equity investing platform, essentially a Robinhood back in the dot com era, where I led PR and marketing, was head of marketing at Oppenheimer & Co, which acquired BUYandHOLD.com, where I oversaw the firm’s rebranding, and then co-founded a hedge fund services and mini prime broker called VanthedgePoint that didn’t survive the credit crunch. I’m a big fan of the DeFi movement, and believe Bancor has a strong hand to play in shaping its future.

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Really like this idea.

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Let’s map out some pro and cons. Currently I have a hard time to find cons :slight_smile:

The main pro for me is that a dedicated team will very likely produce successful marketing campaigns, which in turn will greatly add to Bancors longterm success.

Looking at the “Daily fees by token”-chart on Dune, I think 150k avg per day seems still the benchmark. We could even allocate 1.5% of fees and still have a decent budget at hand.

One of the main things to clarify is how the legal entity is structured exactly and how this fee-fraction is techically transferred.

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Agreed. What would the next step be to propose something formally? It seems that Bancor has no “core team” per se, merely grant holders responsible for the protocol’s various initiatives. Therefore, I suggest we begin drafting an application/petition to send the Bancor Foundation that requests a grant to create a marketing and PR group whose goal is to grow the protocol.

@mbr is this be the approach we should take?

1 Like