Λ L Ξ X / アレクサンダー.eth
A clarification on the July payroll structure: there were three different currencies being used for compensation.
The payroll calculation will be completed closer to the end of the month, but we plan to also pay 1:1 dollar compensation in UBQ to incentivize contributors to stick around for the long run. For example, if a contributor receives $1000 in compensation, they will receive an additional bonus of 1000 UBQ tokens from the treasury. This ratio will be revised when UBQ enters price discovery on open markets.
Here you can preview our current August payroll spreadsheet.
We are considering raising another small round ($50k - $100k) to bridge us to building our first revenue generating mechanism, the proxy yield farming system (scheduled for development in September and completion in October). If you are interested in directly participating, please reach out to me on Discord. I need to speak with Hristo, the lead economist, to confirm the transaction details, but we're looking to pay a 25% premium in non-expiring debts (uCR) which are redeemable when the TWAP goes up above 1.00. This will happen when we push more aggressively on marketing, and give more reasons for people to use uAD (build the ecosystem, partnerships, and integrations.)
At the time of writing we have 106,570.33 uAD of dry powder in the treasury. We are not incentivized to freely distribute these as compensation as the contributors are likely to sell the uAD for other stablecoins lowering our TWAP further. Although this is an emergency financing solution, we respect that the optics of keeping the TWAP at or above 1.00 is important for the community.
We have some amazing contributors on the marketing operations side of Ubiquity. An interesting strategy that was brought to light was the direct targeted outreach to thousands of writers interested in writing about stablecoins.
The idea being to scrape all of the articles of a crypto publication, enrich the authors' contact information to grab the emails of the writers, do some keyword confidence scoring of the articles to determine the likelihood of them being a good fit for writing with us (e.g. "stable coins", "defi", "dao", "fairlaunch"). Afterwards, doing an automated email campaign while referencing specific articles to craft outstanding cold introductions.
We'll continue to do this until we have a nice cache of top writers to help craft the voice of the DAO. Poor communications from the core contributing team to the community is unacceptable in a decentralized future. Investing in our communications infrastructure is demonstrating Ubiquity's commitment to becoming a bonafide DAO.
I also personally reached out to a couple of prominent writers in our community, such as yyctrader, former marketing lead at Basis Cash and writer at the Defiant.
I do think that reaching out directly to influencers and prominent members of Crypto Twitter will pay in spades, but in order for it to be organic we need to budget for several months of time to build authentic relationships.