GIP-36: Budget for community driven activities to reward active participation

Proposals
1

Authors: @RP2743, @parallacs

Summary: The Goldfinch community is getting more proactive in their desire to initiate and run events that help promote and market Goldfinch. Over the past several months, Goldfinch has hosted AMAs with different communities across the world both on Twitter and Discord. These AMAs help to promote the awareness of Goldfinch Protocol among new audiences, attract new capital providers and increase the level of knowledge about the Protocol mechanics. In addition, with people around the world increasing their travel and conference attendance, there is a desire for in person connections and intimate community events. We are requesting a budget to host these events and reward active community members.

Motivation: On the 29th of September Hak Research Group invited Senior Credit Manager @aaron to participate in a Twitter Space with their Founder Truong Ta, covering main features about the Goldfinch Protocol and throwing more light on the Roadmap. This Twitter Space was incredibly successful and more than 500 people attended this.

Leading up to the event, Hak Research Group had over 600+ comments with insightful questions for Goldfinch. To recognize the efforts of their community members Hak Research Group decided to encourage 5 folks with the most thoughtful questions with a prize of a total $100 USDC. Goldfinch community appreciated the dedication of Hak Research Group community members and a high level of discussion during the Twitter Space.

To compensate the costs of the Hak Research Group on their active Twitter Space ($100 USDC) and to set up a larger marketing budget for further community driven activities, we would like to request a budget of $10,000 USDC.

Specification & Requirements: We request a budget of $10,000 USDC to be transferred from Goldfinch treasury to community management multisig. We propose the following members in the 4 multisig – @RP2743 , @parallacs , @poy , @ted - a combination of Goldfinch Community Managers and Warbler Labs employees. This budget would be used for 3 main activities:

  1. To fund regular giveaways on Twitter and in Discord
  2. Reward active community members’ participating and promoting Goldfinch
  3. Host in-person community events

Each of these activities have the goal of attracting more investors to the protocol and partnering whenever possible to keep events and contests cost-effective. We would encourage Goldfinch members who have similar ideas for activations to discuss with the Community Management team and pitch ideas for future events.

Examples include:

  1. Giveaways: Small $5-10 USDC Twitter Giveaways (per winner) based on actual interaction and engagement and chosen at random for fairness. Could explore larger giveaways based on a more involved contribution (such as education or art contest)
  2. Rewarding active community members: can explore using a service like collab.land to tip active community members, and surprise and delight those are adding value (either educational content or support) with a small tip.
  3. Hosting in person community events with the purpose of education and onboarding more people into Goldfinch, promoting the protocol and community building. Budget to cover costs of venue and food.

Benefits: We believe that setting up an independent Marketing Budget for community driven initiatives will let us plan and execute marketing and promotion events faster and more efficiently, and incentivize positive community engagement for broader awareness and understanding of Goldfinch.

Desired Outcomes and Success Metrics:

  • 1 activation hosted a month with value-aligned community members
  • 3 members identified to receive a surprise and delight tip each month
  • Regular educational resources created each month that reaches over 1000 impressions
  • 1 quarterly in person event that results in 10 leads for the community (sales / business development / investment)

Downside: We see no big disadvantages in having a marketing budget for community driven activities, however there could be the potential to dilute community value if we only attract people who care about short-term gain.

In order to mitigate this, we will explore token-gated community events to prove that people are part of the community and not just looking for a quick prize. For example, someone would have to be part of our Discord and follow us on Twitter and undertake an action before being eligible for a contest. Or for larger-budget in-person events, they would need to hold some credentials (completing Goldfinch knowledge quizzes or holding GFI) in order to attend.

Voting:

YES means allocate $10,000 USDC from Goldfinch Treasury to set up a Marketing Budget for community driven activities.

NO means do not allocate resources from Goldfinch Treasury to set up a Marketing Budget for community driven activities.

Resources:

Possible tools for giveaways

2

First I want to say thank Goldfinch for sharing with our community!

I totally agree with the proposal about the marketing budget.

After the FTX collapse caused Mapple Finance’s bad debt, people here in my country are slightly confused about credit protocols. Many of them believe they are the same and very risky. However, our community is different, our members after AMA with Mr. @aaron know how the difference between Goldfinch and the others, so they can continue to stick with the senior pool and the protocol.

That’s why I believe goldfinch should spend more on community marketing.

4 Likes
3

I fully support this proposal to establish a budget for marketing and community events for Goldfinch Protocol.

The AMAs and Twitter Space hosted by Hak Research Group were successful in promoting awareness of Goldfinch and attracting new capital providers, and I believe that hosting similar events on a regular basis will continue to benefit the protocol.

Incentivizing active community members through giveaways and rewards will also help to foster a positive and engaged community, which is essential for the success of any project.

I believe that the proposed budget of $10,000 USDC is reasonable and will allow for the successful execution of these events. I have confidence in the proposed multisig members to properly manage and utilize these funds in a way that aligns with the desired outcomes and success metrics outlined in the proposal.

3 Likes
4

Hey @Veins and @Khue! Your feedback is much appreciated! Thanks!

3 Likes
5

Council has approved the proposal

2 Likes
6

I like this proposal :wink:

7

The proposal about the marketing budget - it’s good! I fully support your proposal. Budget of $10,000 USDC is reasonable. Thanks.

8

I fully support this proposal to allocate a budget for marketing and public events for the Goldfinch protocol.

Each of us knows that a project is successful when the community is interested in it. People are actively involved in a project when they know there will be rewards for it. What are the awards for? Contests, ambassador programs, for using the products of the project, active participation in the project… There are many examples when a project distributes large sums and a lot of people show interest in it.

9

I fully support this proposal