Friends With Benefits

Q2 '25 Operational Budget Presentation

Strategy

FWB’s strategy for 2025 continues to be anchored in four core pillars: token migration to Base, community growth through membership and partnerships, revenue diversification, and runway preservation. However, market volatility, combined with the intensive resource requirements of FEST25 fundraising, unforeseen delays in the token migration process, and our commitment to a significant multi-month partnership necessitated a shift in strategy and operational focus during Q1.

In Q2, the core team’s focus is on the structural changes necessary for FWB’s continued growth. This shift involves resolving our token ecosystem migration, updating our membership framework and application flow, rebooting community programming, and refining the overall identity of FWB to better reflect how the DAO has naturally evolved over the past few years.

Financials

Core monthly operating expenses have been reduced by 12% for Q2 2025 with a projected runway between 11–13 months contingent on fluctuations of ETH as of April 2025. We continue to conduct budget reviews and monitor market conditions proactively to manage the treasury.

Key Initiatives

FEST25

April 2025 Milestones

• Secure 75% of partnership revenue
• Launch ticket sales
• Community programming survey

Focus Areas

• Programming Finalization: Draft speaker schedule, workshop materials, installation specifications, performance schedule, and community events programming
• Partner Activation Planning: Draft space assignments, technical requirements, and integration plans for partner activations
• Community Engagement: Launch community programming survey and draft workshops.
• Content Strategy: Develop shot lists, recording schedules, and livestream planning.

May 2025 Milestones

• Secure 100% of partnership revenue
• 50% of programming confirmed

Focus Areas

• Revenue Finalization: Close remaining partnership deals, meet ticket sales goals, and secure F&B vendor commitments
• Production Planning: Finalize site plans, complete equipment orders, and establish load-in schedule
• Content Pre-Production: Schedule interviews, plan B-roll, designate photography zones, and set up editing workflows

June 2025 Milestones

• Finalize all partnership activations details
• 90% of programming confirmed

Focus Areas

• Program Readiness: Finalize activation details for all programming across music, speakers, and workshops.
• Technical Implementation: Complete MESH app testing, chat integration, ticketing QA, and check-in system
• Operations Preparation: Conduct staff training, vendor orientations, security briefings, and medical coordination
• Content Development: Produce program guide, signage production, digital assets, test livestream capabilities, and set up content team workflow

Help Us Build FEST25! ⛰︎ ོ༘₊⁺☀︎₊⁺⋆.˚༄

Your network is valuable. As an FWB member, you can earn 5% commission on all FEST25 partnership revenue you help secure.

What We Need

• Emerging technology innovators seeking visibility
• Cultural organizations ready to collaborate
• Forward-thinking sponsors aligned with our values

Why It Matters FEST is our beloved annual gathering where friends, thinkers, and art converge to create an absolutely magical weekend. With a $1.3M partnership goal, your introductions help ensure FEST remains sustainable year after year—breaking even and ideally generating profit to keep it happening.

Make The Connection

Email partnerships@fwb.help with potential partner details. We’ll handle the rest, from outreach to closing.

Token Ecosystem

Migration to Base Network & TWAMM

The $FWB token migration from Ethereum to Base continued to experience delays in Q1 due to testing and sourcing a partner to support with liquidity management. As discussed in Q1, the core team has prioritized launching the migration in a way that enhances token accessibility and stability for the community.

As of the end of March 2025, we have completed testing for the migration front-end as well as multi-signature and single signature wallets. We are now waiting on a final audit for a liquidity management smart contract that supports Uniswap v4. Liquidity support for Uniswap v4 is required for TWAMM usage per the token restock proposal.

In September 2023, the FWB community voted on a proposal to allocate a percentage of projected revenue to regularly buy back $FWB from the open market. Replenishing the DAOs’ treasury through the TWAMM ensures a sustainable flow of tokens for ongoing community engagement, experimentation, and long-term value creation.

Large orders impact price from imbalance in liquidity pool assets and invite MEV when validators manipulate transaction orders to maximize profit. This combination results in poor execution and excessive fees for the DAO. Instead, we worked with Uniswap to develop a hook that splits the order over time, letting the market smoothly adjust to thousands of swaps instead of doing it in one go.

Token Ecosystem: Launch of $Benefits token

A few community members raised concerns about the $Benefits launch as it relates to the token migration proposal. We took the suggestions seriously and spoke with counsel to understand our obligations further.

The primary objective of the PartyDAO was to secure 100 ETH for a new $FWB <> ETH LP, and we were successful in doing so. As part of that objective, $Benefits was promised in exchange for donations to the PartyDAO. Pausing or not launching $Benefits opens the possibility of having to return all contributions based on the explicit promise to anyone who donated. To ensure the token migration to Base goes smoothly with a deeper LP, we will proceed with launching $Benefits.

Structural Alignment

In Q2, the core team is focused on several foundational shifts to support FWB’s continued growth as both a DAO and cultural platform. These shifts reflect where we’ve been, where we are, and where we’re heading as an organization rooted in internet-native social experimentation.

Specifically, we are:

• Updating the membership framework and application process to better reflect the role of membership in our ecosystem today, clarify the value of joining, and make it easier to welcome new contributors into our orbit.
• Rebooting aspects of community programming and Discord structure, with the goal of improving accessibility, deepening participation, and better supporting interest-based channels and IRL/URL events.
• Evolving our public-facing identity across our website, application flow, and social channels to bring them into alignment with our current mission, community, and offerings. Much of our outward expression has become outdated or disconnected from what FWB is today; this update is intended to reflect—not redefine—who we already are.

These updates are being developed with long-term sustainability and cultural relevance in mind. While some changes are already in motion, this is the beginning of a more public phase of this work—not the end.

To ensure community alignment, we’ll be hosting regular Town Halls throughout Q2 to share updates, answer questions, and invite feedback. These will be key touchpoints to help shape the process together without losing momentum or clarity. We’re committed to surfacing important decisions transparently while making space for meaningful contributions along the way.

Q2 2025 Town Halls 🔊

Join #fwb-voice-chat in Discord. If you can’t make it, Town Halls will be recorded.

• Tuesday, April 22, 2025 @ 2pm PST / 5pm EST / 7pm AEST

• Tuesday, May 20, 2025 @ 2pm PST / 5pm EST / 7pm AEST

• Tuesday, June 24, 2025 @ 2pm PST / 5pm EST / 7pm AEST

Governance

FWB Academy Applications

The FWB community approved the FWB Academy program, led by member Kitty Vo, an 8-week educational initiative aimed at helping members create quality proposals that drive utility for the $FWB token.

Applications are now open until April 11, 2025. Apply here.

Federal and State Income Tax Returns

During Q2 2025, we will be working with our tax preparers and accountants to address both federal and state tax filings for the 2024 fiscal year.

Remainder of proposal + recap available here due to Snapshot character limits.