IIP-48: MVI Growth Budget

IIP: 48
Title: MVI Growth Budget
Status: Draft
Author(s): @darkforestcapital @verto0912
Discussions-to: MVI - Growth Budget Request
Created: 7-Jun-2021

Simple Summary

Building on the initial success of MVI, we have a number of growth initiatives in the works to help spread the word about the index. We are looking over the next 3 months to break into the customer base in the NFT gaming sector, using MVI as a natural intersection between DeFi and the metaverse to help educate people on the wider crypto space, and the power of index investments. We are requesting $128k to carry out these initiatives.

Abstract

If the proposal is implemented funds will come from the community treasury to fund a 2/2 Gnosis multi-sig with the funds denominated in $INDEX tokens, to be controlled by methodologists Verto and DFC. The funds will be spent on the following initiatives, with any spare to be used on further initiatives (after communicating them to the community) or rolled over to future MVI growth programs.

Gaming Guild - Build up Axie farm, earn $500 - $1800 in yield per month, enable less advantaged users, can leverage education and marketing ($20k)

Streaming Sponsorships - MVI ads and walkthrough videos, audience outside of western sphere ($18k)

Virtual Music Festival - Unique marketing opportunity, breaks outside of crypto ($15k)

Incentivise Supply Directly - Increased unit supply, test whale demand ($50k)

MVI airdrop to DPI Purchases - Spreads the word, increased unit supply ($25k)

Motivation

NFT gaming is a fast growing sector, onboarding a whole new cohort of mobile tech-savvy users to crypto from countries all around the world. While a DeFi native who wants exposure to the metaverse trend will simply purchase the tokens they feel best represent their view, we are looking toward the group who don’t know about the possibilities their newly downloaded web3 wallet offers. The hypothesis is that unlocking this group, while it may be tough, will be more valuable as it is effectively white space.

We are also implicitly assuming the 25% APR incentives for providing liquidity to MVI/ETH will not be enough to compete for more DeFi-native MVI token holders. As such we are pursuing the listed experimental initiatives over the next 3-6 months.‌

Specification

Overview

Funding growth in this way will allow the methodologists freedom to experiment and try to increase unit supply and AUM of the MVI product as per our North Star metrics.

Technical Specification & Rationale

Full details of the initiatives, their cost and any measure of return are detailed in the original post here.‌

Copyright

Copyright and related rights waived via CC0.

8 Likes

@DarkForestCapital can you confirm the wallet address to which these funds should be sent?

if this question is off-base and there is no need to send funds from the Funding Council wallet, please let me know

@DarkForestCapital @verto0912

Please provide an update on the status of execution. If this initiative remained unfunded, please note that as GOWG is preparing an omnibus IIP to effectively cancel IIPs that remain unexecuted with no further work planned.

Snapshot

cc: @gregdocter @sixtykeys @Lavi @Mringz

2 Likes

Hey Mel, no funds were moved and there is no intention to move any in future so this IIP can be cancelled.

The one thing that was done was to pay KooKoo and Cagy directly from the FC during monthly distributions as set out in ‘Streaming Sponsorships’. Cagy has two months left (Nov, Dec) at $2500 which I am submitting sheets for on his behalf.

3 Likes