[ARCHIVED] humanDAO x BitDAO

[Chris2pherChase]

Authors: Christopher Chase, Corey

Date: 24/02/2022

You can reach us directly through admin@humandao.org email or Christopher Chase can be reached on Twitter, Discord, or Telegram via the handle @Chris2pherChase

After feedback this is the revised proposal. Previous versions can be found in the edit bar.

WHO
The humanDAO is a social impact project created to onboard the global underserved communities into crypto. We use web3 to offer opportunities unavailable to the developing world, as well as provide new and profound revenue streams to investors through play to earn and many more web3 opportunities.

Download 1 pager here

Since the DAO officially launched on December 1st 2021, here are some of the achievements:

• A dual chain (polygon & mainnet) fair token launch/sale through copper that lasted 5 days and raised $3.8M.
• Created a polygon and mainnet liquidity pool
• Launched a dual chain bonus claim with a simultaneous NFT mint (1st of a kind)
• Launched staking on both polygon and mainnet (1st of kind)
• Launched governance through Snapshot on polygon and mainnet

Our advisors include DeFi Dad, Mona El Isa, Tyrone V Ross Jr, Ross Campbell, and Diana Chen

Our partners include BanklessDAO, LexDAO, POAP, ReadyPlayerDAO, Food For Life Global, Thetan Arena, Mirror World and many more in the pipeline.

Site: https://humandao.org

Blog: humanDAO – Medium

Discord: humanDAO

Twitter: https://twitter.com/humandao?s=21

Documentation:https://docs.humandao.org/

Tokenomics start here: HDAO Token - humanDAO



WHAT

This is a proposal for funding to the humanDAO to build out the Metaverse Talent Network in partnership with BitDAO. MTN will provide lucrative new opportunities for globally underserved communities and new revenue streams for humanDAO. By leveraging the rapid growth of our P2E community, we aim to expand the “scholarship” program outside of gaming and provide community members opportunities to get web3-ready, then deploying them into the industry via multiple avenues.

Through MTN we will provide free crypto/web3 education, on chain credentials, ownership, and multiple ways to earn living wages in web3 for those in the developing world.

Download MTN info sheet here

HOW

Download MTN info sheet here

Learn to earn is becoming popular in web3. The current L2E offerings are much different than ours as they facilitate a one-time event (token rewards) for using a protocol or learning about web3. The humanDAO’s L2E program is an actual way to learn and earn ongoing wages. A career path. True learn to earn. We have the demand at the top of this funnel through our community. We also know there’s massive demand in web3 for these roles. We have a clear path to market and viability.

WHY

HumanDAO is not just a gaming guild making money from P2E. It is and has always been about helping people through crypto. Gaming is the low-hanging fruit to achieve that. Gaming/P2E is the incentive and driver of our growth, attracting the young underserved communities we look to impact.

If one values YGG, ReadyPlayerDao, or any of the many gaming guilds, we are the same, but with MTN, we become much more. A unique organization in the world of crypto. An opportunity zone for those at the bottom of the socioeconomic ladder. Through MTN we expand opportunities outside of gaming for our community, while plugging a high demand hole in crypto and web3…skilled workers (community support and dev) and access to a large, young, diverse community for DAOS, games, and protocols to leverage through the Metaverse Talent Network.

The goal is not only to provide opportunity through education and wages for the underserved but also ownership of something for the first time. By distributing more than half of the HDAO tokens over ten years to underserved communities worldwide through incentive programs to help build and grow the DAO, they earn tokens — ownership. If or when a revenue share system is voted on and implemented for token holders, the underserved can make passive income for the first time, creating a powerful virtuous feedback loop.

We are one of those entities the industry can point to first when they call crypto a Ponzi, scam, for criminals, etc. This is unique. What humanDAO aims to be doesn’t exist in crypto or the world. Through token incentives, we can accomplish what charities cannot. We do not just hand out fish; we teach our community how to fish in this new crypto/web3 internet, and they, in turn, help grow the DAO in members and revenue. JOIN US!!!

KEY POINTS

BitDAO treasury currently receives +$2M daily from its Bybit partnership. https://bitdao.io/analytics/
This proposal uses only a weeks worth of that to fund something new, unique and help those in underserved communities. While diversifying the treasury and providing new revenue streams to BitDAO

What does HDAO receive?

• $14M USDC & $1M worth of BIT tokens

What does BitDAO receive?

• 100M $HDAO tokens
• These tokens remain locked for 18 months in a time-locked contract.

What is the funding for?

• Operations - growing the builder team from 15 to 50+ full time people
• Marketing - HDAO wants to leave the crypto-only pool, go mainstream in the media world and challenge traditional/web2 entities (like charities) by showcasing what is possible through tokenomics and web3.
• Continuing investment into more revenue generating assets (NFTs, P2E, etc.)

What does the HDAO token do?

• $HDAO is just like $BIT, in that it’s currently a governance token. But through MTN the utility of the token will expand. For example, entities wanting to utilize metagraph or placement services may need to stake HDAO tokens.
• There has also been talk amongst the community to turn on a revenue share or buyback system once the revenue streams mature more.

How will your proposal, if activated, benefit BitDAO?:

• 100 million $HDAO = Diversification + Revenues - Holding $HDAO diversifies BitDAO treasury and will give access to HDAO’s revenue streams
• No fees - BitDAO will pay no fees for using HDAO services. This will bring value back in the form of talent, engagement, development and exposure too BitDAO.
• Exposure - our education modules can feature BitDAO backed protocols, games, etc.
• 15% of Buildl token fees - Buidl services will be at the forefront of web3 innovation and building, offering a unique opportunity to receive new project’s token without the need to buy or invest money. BitDAO will receive 15% of Buidl fees in perpetuity.
• BitDAO on multisig - A BitDAO representative will join the 3 of 5 multi sig and it will become a 4 of 7.

What are the projected outcomes?

• Community growth
• New revenue streams
• Positive news/media engagement
• Create the “go to” destination to fill web3 roles
• Place for new projects to receive free development
• Help people from impoverished backgrounds

How long will it take to complete your proposed changes?

• 12 -18 months for web3 integrated websites

Technical details and/or links to source documentation

• HDAO 1 pager
• MTN info sheet
• HDAO docs

Next Steps? If this proposal is accepted, what are the immediate action items?

• Pass an HDAO governance vote
• Solidify the full time builder team.
• Buidl. Buidl. Buidl.

Thank you for reading and please vote! If you vote NO or Needs Work please comment as to why, we appreciate the feedback

Temperature Check Poll

Would you like to see this proposal go to vote?

• Yes
• No
• Needs work

[flowcity]

Love the learn-2-earn model!

[leonlabrooy]

Hi Team,
I have been hdao member since launch and I am very excited to see the proposal for MTN. Clearly a lot of thought has been given to this and its great to see that hdao is expanding revenue/activity streams beyond P2E. Clearly a lot of thought has been given to the structure of the MTN and L2E 2.0 as well across both horizontal and vertical integrations and I like the customer centric approach where all roads lead through HDAO. Its also great to see that you have reached out across the continents to start strategically onboarding or building the relationships to onboard new scholars post college.

Couple questions/initial thoughts:
Regarding marketing/ops expenses-Proposal says $5m will be used for ops and marketing. Can you elaborate on the details of how the funds will be used?
Regarding partnerships, have we thought about leveraging existing web3learning infrastructure to bolster the education pipeline vs internally developing this content through hdao(which may reduce costs).
web3lance vs hdao budil-is the main difference that web3lance focuses on bounty(fixed) based assignments vs buidl could be more of a contractor type service?

Thank you for your feedback,
Leon
.

[Chris2pherChase]

Hello and thanks for the questions.

Regarding marketing/ops expenses-Proposal says $5m will be used for ops and marketing. Can you elaborate on the details of how the funds will be used?
This is a very ambitious undertaking and part time builders won’t bring this to market anytime soon. The majority of this will be used for operational/salaries for a team of full time builders. This can provide a 3yr runway for a team of full time builders and still have 1m leftover for marketing. Marketing is used to help grow awareness for what we do and offer. We want the crypto community to point to humanDAO when they get told crypto is for scams, vaporware or has no value. But they don’t know us yet, marketing funds can help change that.

Regarding partnerships, have we thought about leveraging existing web3learning infrastructure to bolster the education pipeline vs internally developing this content through hdao(which may reduce costs).

Great thinking and yes, we are in talks or will be talking to these platforms. Notably our partners at banklessDAO that just released the Academy. But, most of these are new platforms too and our members are quite different than those that have been populating crypto for the last decade. So some, if not most of the content needs to be tailored.

web3lance vs hdao budil-is the main difference that web3lance focuses on bounty(fixed) based assignments vs buidl could be more of a contractor type service?

That is correct.

[leonlabrooy]

Thanks Chris, appreciate the feedback on the answers! Best of luck to HDAO!

[fabnepridao]

I support this initiative. We need to push Web3 to the masses, educate people and build awareness around its benefits and advantages.

[tomhschmidt]

Thanks for the thoughtful proposal, Chris! HumanDAO looks interesting. I have some feedback on the structure of the proposal.

First, the pricing would be $12.5MM (10MM USDC + $2.5MM BIT) for 30MM HDAO, which would make the tokens valued at $0.41, not $0.33. But even at $0.33 per token, this is ~10x more than market price right now on CoinGecko. Certainly there are liquidity constraints to factor in, but this seems like a very large markup. How did you arrive at this pricing? humanDAO price, HDAO chart, and market cap | CoinGecko

Additionally, I like the idea of having funding tied to milestone achievements, but the milestones are pretty vague right now (launch x,y,z) and it’s not clear how that will be resolved. Do you have any ideas for tying milestones to traction metrics beyond just launching features?

[Chris2pherChase]

Hey Tom, thank you for the questions. There was a mistake regarding the initial BIT, which is the 0.33 value. After receiving feedback from BitDAO, we have reviewed and enhanced the proposal. Thus, ensuring it’s attractive to the BitDAO community and providing additional clarity/metrics on milestone achievements. Some figures and benefits have changed. Specifically, these parts were edited…

What is the Ask?

• 2 Funding rounds
• 1st (immediate) tranche: $10M in USDC.
• 2nd tranche: $10M in USDC and $2.5M worth of BIT to be released after achieving the milestone.

What is the milestone?

• The launch of ALL humanDAO’s MTN related products and services— education modules, web3lance, metaGraph, plus the Placement/Buidl services (CareerPath) AND these metrics.
• Education modules = 2500 individuals completed
• web3lance = 200 completed bounties
• metaGraph = 3000 members signed up to participate
• CareerPath = 50 agreements/contracts in place

What does BitDAO receive?

• 50M $HDAO tokens valuing $HDAO at $0.20/HDAO from the $10M Tranche 1.
• These 50M $HDAO tokens will remain locked for 18 months in a time-lock contract.
• If the HDAO builder team has NOT achieved the milestone within 18 months AND the value of $HDAO has not at least 2x ($0.40) at the unlock – BitDAO will receive 25M more $HDAO as a bonus
• These bonus tokens will vest linearly over the following 12 months in a vesting contract.

Budget

• $5M USDC for operations ($4m = 3 yrs runway) & marketing ($1m). $5M USDC invested in revenue generating assets (NFTs, P2E, etc.).

How will your proposal, if activated, benefit BitDAO?:

• 50 - 75 million $HDAO - 75M tokens in the event certain parameters are not met. Whether 50 or 75M BitDAO becomes the largest token holder.
• Diversification + Revenues - Holding $HDAO diversifies the BitDAO treasury and will give access to HDAO’s revenue streams when the community votes to implement revenue sharing programs with token holders. These are new lucrative revenue streams.
• No fees. BitDAO will pay no fees for using HDAO services, specifically employee placements, web3lance and metaGraph. This will bring value back in the form of talent, engagement, and exposure to the BitDAO
• 15% of Buildl token fees - Buidl services will be at the forefront of web3 innovation and building, offering a unique opportunity to receive new project tokens without the need to buy into a seed round. BitDAO will receive 15% of the fees in perpetuity.
• BitDAO on multisig - A BitDAO representative will join the 3 of 5 multi sig and it will become a 4 of 7.

Regarding the valuation, we came to that figure based upon the amount needed to make this work, our leftover tokens from the public launch, what the community would tolerate from a single entity being the largest holder, and the realization that the float is very low.

The circulating supply is 66M or 6.6%. CoinGecko is the closest to reporting it correctly, but because we are a dual chain DAO with staking and treasuries on two chains, they left off our polygon treasury/locked tokens. This is a first for them to deal with this as well. (I can share the sheet with all the pertinent information regarding the supply and addresses if anyone wants it.)

There is just no liquidity or depth to any of the three places you can currently buy HDAO. BigONE CEX listed us immediately after launch and unbeknownst to us, but there are no tokens to buy on that exchange. The only liquidity is in the 2 DEXes we launched one on mainnet and the other on polygon. While there are 44m tokens in those pools combined, there is only $500k USDC in one and $190k WETH in the other, a balancer 80/20 pool to boot.

The second we gain any awareness, this low supply will drastically raise the token’s value. We opted to build over shill during the first ten weeks. If you do a deep dive on what we have accomplished, you will see that, and we do need to get better at shilling Besides, we all know fundamentals matter the most, and you have to build those.

On top of that, we’ve incentivized the 20M+ tokens held by hodlers to lock those tokens up in a 6, 12, or 18 month staking contract with those rewards vesting for 18 months. Those rewards won’t even start hitting circulation for another 1.5 yrs.

But after receiving feedback from our community, raising the total of offered $HDAO to 75m with 50m upfront was something holders would vote for, which should also make the BitDAO community much more comfortable.

[Chris2pherChase]

Hey Tom, not sure if my reply to you ended up being its own comment instead of a reply and not pinging you. But I did reply below. thanks again.

[Chris2pherChase]

A simplified, clearer revision is now live above. thx

[kravi]

Thanks for nice proposal.

I guess, valuation would be sure concern !

At the current price $0.01946, your offer of 100M $HDAO is at $1.946m, and your ask for the same is $15m !!

[Je]

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