Budget allocation for current operations: August–October 2023

Governance
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Abstract

The Onyx DAO proposes to allocate a budget for operational costs and marketing and promotional development.

Discussion

The Onyx team established the project maintenance and development with the previous budget. Onyx managed organizational, technical, and marketing fields; made several partnerships, and succeeded with a new XCN listing. You can read more about past work and plans for the future in Alex’s community posts: in July and May.

The previous budget covered only essential developmental support, as the community wanted to see more marketing activities. Because of the bear crypto market, we choose to continue the modest expense policy.

Development and Infrastructure support

The goal is to support protocol functioning and ensure its security, and timely resolve issues and release bug fixes. Additionally, the team will look into enhancing platform capabilities, including new coins and NFTs support; and research other chains to add to the protocol.

  • Developers ~13,000 USD/month
  • System administrator and security engineer — part-time, $3,000 USD/month
  • Infrastructure support. Includes servers, IPFS, blockchain nodes ~6,000 USD/month

Total for 3 months: 66,000 USD ~66,000,000 XCN.

Marketing and Management

The Onyx team has shown its promotional efficiency and aims to continue this path.

  • Community Leader ~25,000/month

  • Head of BD ~8,000/month

  • Head of BD Assistant, Community Lead ~2,000 USD/month

  • Designer ~3,000 USD/month

  • Community managers ~6,000 USD/month

  • Ambassadors ~3,000 USD/month

  • Social promotions and visibility ~3,000 USD/month

  • Publications ~5,000 USD/month

  • Merchandise for partners ~10,000 USD for 3 months

  • Influencers and external AMAs ~5,000 USD/month

Total for 3 months: 190,000 USD ~ 190,000,000 XCN.

Additionally, we’ll allocate 180,000,000 XCN for team and collaborator bonuses and community initiatives paid in XCN.

Total for marketing and management: 370,000,000 XCN.

Summary

Total is 436,000,000 XCN.

This budget is for 3 months—August, September, and October. The team has chosen a short period of planning because of an ever-evolving landscape. It will be reviewed quarterly, and the next budget will be proposed before the end of October.

We are opening a discussion of the proposal within the community and expect to deploy it in a few days for an official vote.

2 Likes
2

Last budget had funds (10k ) for merch too , when it will be distributed ?

3

Hello,

Merch is a part of Onyx Sticker-Bomb campaign.
Also, we present merch to our partners.

1 Like
4

Hoping for a great AMA this quarter .

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5

Yes , we need some bigger AMAs on some big platform . also twitter spaces

3 Likes
6

will you hire more dev ?

1 Like
7

Social promotions includes ?

8

Like last time this time i will support too , just do the good work and make onyx great

2 Likes
9

@alex what plans you have to make onyx a attractive platform for nft lovers ?

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10

if roadmap has focus on defi + Nft , then team should the hard work to attract both types of users , and more impactful marketing

3 Likes
11

Indeed . :saluting_face:

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All the best team for the next quarter . Give your best

1 Like
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Hello,

We’ll try to hire a new developer, yes.

14

Hello,

Definitely!

15

Hi,

Yes, for NFT lenders :slight_smile:

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16

:saluting_face: :upside_down_face:

17

has voting started on this ?

18

Hello,

On-chain voting is started: Onyx Protocol

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19

Already voted . Best of luck

20

Also for the previous proposal I have been looking for transparency about how the funds have been used. I thought this is a vital part for any DAO to be transparent about where the funds are going so we can have a good view on where they get swapped in other tokens or kept in $XCN tokens. Let’s do this together and work on decentralization and transparency.