138-[FLP#0007] - Budget Allocation Proposal

This Budget Proposal lays out the costs associated with the Lucidao project and its first dApp - the marketplace for luxury collectibles. This budget will go towards the growth and development of the team, development costs for the marketplace and marketing expenses.

The team has been working for the past one and half years to build and deliver the Lucidao protocol to the community. This includes extensive analysis with MME legal and a massive effort by the core team to deploy the Lucidao Governance structure and smart contracts.

To lower the costs associated with the start-up phase, the Executive Team and the responsible team members did NOT receive any compensation for their work.

After a successful initial launch, and with the upcoming release of the first dApp it is essential to define a budget that can allow us to build and engage the team and that helps to interact with the necessary partners to be able to communicate and push Lucidao in the best possible way.

Costs have been listed in the proposed budget below. We have also justified each cost element.

Where are the funds coming from?

Is the budget based on previous or expected projections?

There are some fixed costs that have been determined from daily operations that will help shape the expected budget projections. Marketing will play an essential role in the project’s growth, where a large allocation is directed towards this. Once the marketplace is functional and oracle’s collectibles are uploaded, the marketing plan will be executed. It’s also important to note that a single dollar has not been spent on marketing LUCIDAO to date.

  • The budget is based both on existing costs:

    • Legal fees;
    • Software;
    • Accounting;
    • External design agency;
    • IT team salaries
  • And on expected projections:

    • Team salaries;
    • Marketing PR;
    • Marketing events and advertising;
    • Marketing digital (SEO, SEM activities):

Are salary and wages positioned in relation to the market rates?

  • The wages proposed are in line with the market rates for the sector. It’s important to consider that crypto is a highly competitive industry, and it’s necessary to provide value to the team for long term development and growth.

What positions is the team composed of?

  • Chief strategy x 2
  • Development team/Tech x 4
  • Operations x 2
  • Community and Oracles relations x 2
  • Marketing x 2

Do the marketing activities have quantitative objectives to be achieved to verify their efficiency at the end of these six months? What are outputs expected at the end of the six months?

Marketing will play a significant role in the future growth of LCD; once the first marketplace has been launched, the focus will be shifted on development and growth. The return on advertising spend can often be difficult to identify accurately, but the primary goal should be to achieve the following:

  • Continued business development with world-class brands & businesses to onboard Partners/Oracles.
  • Increase LCD holders and spread the community
  • Increase exposure to high-quality contributors, who will continue to support the protocol, and its Dapps.
  • Generate global press that identifies Lucidao as one of the leading protocols in our category.

The above budget allocation will be distributed to an expense wallet: 0x7Bc0fD0068c05beBBFb51F599Cde4922b844EED0

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