Frax Finance

Please find the full version of the proposal here

Author

DeFi Dave

Proposal

Authorize $370,000 in base funding (50% FRAX/50% FXS priced at 30 day avg.) and $200,000 in extra incentives over the next 12 months to support Flywheel in our media, education, and outreach efforts for the Frax ecosystem.

Background

Since our inception in June 2022 until now, Flywheel has evolved from a single podcast to a full-fledged subDAO of Frax that specializes in media, education, and culture. The Frax Core Team is unique among its contemporaries as it does not prioritize growth/marketing internally, choosing to invest resources in technological development and research. Flywheel has stepped up to fill this void in a grassroots manner. In a world of mercenaries, Flywheel stands out as a missionary proving ourselves many times over not only of our loyalty but effectiveness in spreading awareness of Frax far and wide. With Fraxtal (Fraxchain) around the corner, Flywheel’s role in Frax will only grow in importance and will give us an opportunity to expand the surface level of our coverage and outreach.

In 2024, our goals are to:

• Transform passive observers into active participants in the Frax Ecosystem.
• Cultivate a vibe for Frax that people can identify with and have positive feelings toward.
• Solidify Flywheel as the educational and cultural backbone of Frax.

Plans for 2024

Last year, how our grants were structured were on a per-task basis. This year, we will list the general responsibilities that Flywheel will be executing on behalf of Frax as well as to keep its own house organized. In order for Flywheel DeFi to still function and operate at the level it does now, then we must be able to fund itself properly. Funding from this grant will be able to support a staff of 6 people which include myself as DeFi Dave (CEO, Core Advocate), Sam McCoulloch, (Executive Producer), Kiet Fong (CFO, Co-Host), Peepo (Media Editor), Carissa Campo (Growth Lead), and Phil Lewy (Content Specialist):

Item	Staff	Cost
Education and Awareness	Sam, Phil, Peepo, Dave, Kiet	$210,000 Base
Business Development	Dave (Core Advocate), Sam	$50,000 Base, $200,000 Extra Incentives at the discretion of Frax Core Team
Culture and Events	Dave, Carissa	$105,000 Base
Buffer Costs	Misc.	$5,000 Base

Proposal

• For: Approve Flywheel Funding of $370k Base & $200k Extra Incentives for 2024
• Against: Do Nothing