The BarnBridge DAO has been supporting a designated community manager for the China user base since April 2021. Given recent local developments and conversations with other projects maintaining similar efforts, further commitment to such an initiative will require the formation of a “pioneer company.” This proposal lays out the projected budget for the effort and addresses the renewal of Leo’s role.
The purpose of a pioneer company is to have a registered entity for Leo’s community management efforts in China. This will allow Leo to continue his conversations with local funds, remaining retail portals, and other crypto projects in a compliant manner. The pioneer company would have no formal connection with the BarnBridge DAO, meaning that there would be no economic ties connecting the two. The funds set aside for the initiative would effectively be a grant of working capital for its formation and maintenance.
The requested amount of $6,000 would cover the following:
Business Registration: The costs associated with getting approval from relevant bureaucratic authorities
Company Address Hosting: Leo’s work would remain remote and not require an office, but the equivalent of a P.O. box / official place of business will be expected
Financial Accounting: A third-party entity would be required to sign-off on the financials of the company
These expenses would be in addition to a proposed quarterly salary of 225 BOND paid to Leo. He currently is a one-man team, but expects there to be the need for a local social media employee by Q4 of 2021.
Despite recent crackdowns on fossil fuel Bitcoin mining and high leverage derivatives, the Chinese government still views blockchain applications as being an important strategic pillar for its economic policy. This means that the prospective market for blockchain applications that are able to provide functionality beyond just their own token is quite significant. Formalization of BarnBridge’s presence and Leo’s efforts in China opens up doors to the relevant policy makers, fund managers, fintechs, and crypto projects that will give it a shot at that type of adoption.
$6,000 USDT would be allocated from the DAO’s reserves to Leo’s provided address. His salary would continue to be paid from the 10,000 BOND allocated in PID-2 to the community wallet. Receipts from the aforementioned expenses would be reported to the BarnBridge core team.
Work to Date
Leo’s community management efforts over the past two months have focused primarily on creating official BarnBridge presences across the Chinese crypto media ecosystem and establishing relationships with other projects and funds in the space. The following are some highlights:
- Created and manages official BarnBridge profiles across major Chinese media outlets
- Represented BarnBridge at conferences in Shanghai and Hangzhou
- Struck a formalized partnership with a blockchain incubator fund
- Authored native content as well as translations
The work housed within the Pioneer Company would simply be the work that Leo is already being compensated to do. Regarding any recurring costs associated with the continued maintenance of the company, Leo believes that it could grow self-sufficient off a business model centered on strategy consulting for BarnBridge products.
There is no SnapShot vote at this time. Please share your comments, questions, or concerns here in the thread, and keep an eye out on the Discord server as Leo would be available for an AMA in the #Embassy channel.