BizDev Committee Funding Proposal - Q1 - Prop A

BizDev Committee Funding Proposal - Q1 - A

This proposal is for the on-chain funding period 01 January 2022 to 31 March 2022.

Quick Note: Big thank you to Riaz | Orageux101 for their diligent work this last quarter as part of BizDev. Countless conversations have been started behind the scenes as a result of your efforts. Your warmth and skilled reporting will always have a spot open for you on BizDev. We can’t wait to see what big things you do next!

Purpose of the BizDev Committee Leads:

  • The Committee exists to primarily support the enrichment of the application layer of Secret Network and become a community-led growth incubator.
  • Manage programs and initiatives to build and support the developer Community.

This will include several initiatives including:

  • Fostering relationships with existing developers on Secret Network to understand ongoing developments and developer pain points;

  • Supporting and funding the upskilling of new community developers and empower them by helping them find roles within the ecosystem;

  • Support the Governance Committee’s CCBL and fund or incubate teams that can build the desired products;

  • Periodically report on advances in the cryptocurrency ecosystem to better understand the opportunities available to Secret Network;

  • Increase Secret Network’s exposure by attending several pertinent East Coast and West Coast cryptocurrency conferences (funded and attended by Jay | 𝕊hadowRealm, Ryan | Secret Orchid) in a grassroots effort to onboard VC’s and developers, and DAOs. This will harmonize with efforts from the Secret Foundation, the Awareness Committee and Secret Agents; and Aim to grow Secret Network through boots on the ground efforts while evangelizing developer growth, sourcing developers and ultimately creating an incubator for applications/architecture networking with talent from other chains.

Targets for the proposed funding period

Funding, if any, for the following efforts will be broken out into initiative specific proposals to allow the community to decide with specificity efforts they wish to back. Additional proposals will cover the hard costs of initiative only, laid out in those proposals.

  • Attend cryptocurrency events and conferences to secure VC’s, developers, DAO interests and interchain relationships;

  • Hire Engineer to expand Secret Learn platform on Figment;

  • Host destination location Startup Hackathon weekend with community, VC’s, business mentors, in support of Secret Labs and Secret Foundation efforts;

  • Resource and manage human capital for paid testnet with uptime and update SLA’s;

  • Resource contract document maintenance engineer and develop SLA for developer documentation updates;

  • Continue to develop relationships from outside of the Secret Network community to help facilitate deployment of applications/architecture on Secret Network;

  • Create reports on the state of competing protocols and privacy preserving network functions.

Aims for future periods

While the proposed committee leads cannot guarantee success in obtaining funding in the future, it hopes to provide long term:

  • Seamless developer onboarding experiences through a job board, expanded learn platform, robust testnet and resource users for up to date developer documents.
  • A DAO that would allow a revenue-sharing model in dApps developed by the community. Partner with the community and VC’s to build a secret focused project incubator, providing top tier developer resources and mentorship.
  • Scale up to hosting network-agnostic twice-yearly global Startup Weekends to support entrepreneurs and creators alike in learning how to develop effective business, financial, and marketing models to grow their ideas from startup to success. Branded/Sponsored by Secret, in support of efforts of Secret Labs and Secret Foundation.

Budget Request

The BizDev Committee asks to be compensated for lead roles,conference attendance. (All fee’s and travel covered by lead members themselves)

Jay | 𝕊hadowRealm = $62.50/hr | 40 Hours/wk | Jan-Mar

  • Twenty years of professional experience as a private business owner, VC and entrepreneur;
  • Successfully founded and scaled an art wholesale company to $7m annual revenue;
  • Sat on the board of Mulvihill Electric LLC where he secured Goldman Sachs as an equity partner;
  • VC and current consultant to a “best-in-state” marijuana company with over $300m annual revenue and growth of 250% per annum; and
  • Long-term active validator on Secret Network.

Ryan | SecretOrchid = $62.50/hr | 40 Hours/wk | Jan-Mar

  • Ten years of professional experience in enterprise applications infrastructure, global product development, and Product SLA Management;
  • Joined the BizDev Committee in October 2021 and has worked with various teams in the community including SecretLabs, Secret Foundation and Committees across various initiatives;
  • Built out recruiting incentive structure for sourcing developers out of LATAM.
  • Active in local and regional cryptocurrency communities and meetups, evangelising SCRT.

Discretionary Budget

  • No additional Discretionary Budget requests are being made this quarter in this proposal.

Total Ask

Jay | 𝕊hadowRealm = $62.50/hr | 40 Hours/wk | Jan-Mar

Ryan | SecretOrchid = $62.50/hr | 40 Hours/wk | Jan-Mar

Discretionary Budget = 0 (Using remainder from previous proposal)

Total Proposal Spend for 3 Months USD: $60,000 USD

Total SCRT= TBD on Chain Date

2 Likes

Could we have a breakdown of how much of the 10,000 SCRT discretionary budget from the last proposal was spent, and how?

Also one of your enumerated goals both in the last funding period and this one is on-boarding developers. Ethan and I provided a list of interested parties we wanted to put through classes, and very few were selected, and they were barely paid, if at all, to take these free classes. We’ve since had others take these classes independently and on-boarded them ourselves.

I’m sure that you guys are working and that much is behind the scenes, but the last ask was for over $100k. How much did Orageaux work? Did Ryan’s pay come from the discretionary budget? What measurable metrics can you point towards to show success for the last 3 months?

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Is there a report or anything information on what the BizDev committee did the last 3 months?

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I fully support this proposal. Jay, Riaz and Ryan have proven themselves to be fully dedicated to supporting the growth of Secret Network. At $62.5/hour this is a no-brainer for me (compared to other props at $70-77/hour).

Discretionary fund - We’ll be including that accounting in our end of quarter report! We do have a pool remaining that we’ll continue to use for future efforts.

Paid Upskilling - We sent through 3 people, one of which was postponed. It was not an open ended invite to all developers to get paid, as the platform is free for all to use at any time they please. The individuals we selected were asked to document their experience, and provided meaningful feedback about the learning platform. We chose to allow the individuals the privacy of their pay and experience, but can state they were more than well compensated for the amount of time spent. This has sparked an on-going conversation to improve the learning platform (owned by a 3rd party), and identify new areas to expand the platform into. We’re excited to drive future efforts on that, along with a few other areas of pain we’ve identified over the quarter for new devs. A cohesive path to onboarding is currently missing, and one of our continued targets for the quarter.

Being more responsive on telegram is a great way to ensure we better hear your issues and concerns as they’re happening. Always feel free to message any of our active groups on Telegram. We look forward to continuing to support growing developer support in the community!

Throughout this week we’ll be posting two reports from Riaz’s research efforts from this last quarter, as well as an EOQ update and breakdown of our discretionary spend. We plan to post to discord and link here.

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Thanks for your patience Brendan! Here’s our EOQ Update and Breakdown:

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Can we also get an update on the work being done to update dev docs? In a long discord thread Discord you agreed that it sounded like good use of the discretionary funds. I have not heard anything about the progress of finding anyone to do it. Nor does it appear that my suggestions about how to find someone, like monitoring the dev chats for when people say they’ve found documentation issues, and asking them if they would like to be compensated to update docs, or just a bounty for updating the single issue have been done. At least I have not seen any msg from bizdev asking those things when devs post about out-of-date documentation.

It would be good to know that this is progressing, instead of possibly being a situation where you agree that it should be done but haven’t made any effort because it is hard.

Also, can you describe what you will be doing differently in the coming quarter that requires you to charge for double the hours of the last proposal?

4 Likes

Updating documentation is a deliverable under Secret Network Support Team Funding Proposal

Right, but if you read the thread, bizdev agreed it made sense to take on the responsibility of updating dev docs since that directly impacts the onboarding of new devs, which is a focus of theirs. And the out-of-date docs are currently a source of significant pain for new devs trying to build on SN

Skipping past the earlier posts where they agree that they could/should take on the responsibility, but don’t know how to find someone to do it, the thread ended with

Jay | 𝕊hadowRealm 11/22/2021

Enlightening convo. We are and always have been willing to use the discretionary budget for anything that would lessen the barrier of entry for all, specifically devs. The crux of the issue is that it’s not that simple to find the willing party to identify and execute. For the record we agreed to fund, but didn’t @𝕊chultzie | Lavender.Five Nodes and MrG for their support roles. Same with Chain of secrets and a community api. Willing to fund this as well given we identify the exact need and scope. We reported our spending and budget last month.

baedrik | Mr. Roboto🤖’s Secret 11/22/2021

Another option is monitor the dev chats. When you see someone report an issue, DM them and ask if they would like to be compensated to find those same issues and update the docs when they get the answers

baedrik | Mr. Roboto🤖’s Secret 11/22/2021

And you can post in channels that you are looking to hire someone to find what needs to be updated in the dev docs after the supernova hardfork–preferably someone with secret contract experience so they are more likely to identify what has changed from before (edited)

I had never heard about what they have been doing to find someone for this position, nor have I seen any bizdev post in the dev chats when people mention the errors they find in the documentation. Obviously they could have been reaching out via DM, which I would not be aware of. So that’s why I’m asking what progress has been made. There have been multiple posts from people complaining about the dev documentation since this thread, so there have been multiple opportunities to reach out to those people, so it would just be good to know what has been done so far.

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Sure, don’t disagree, just wanted to point out it might be an instance of overlapping deliverables between two (funded) parties

That’s a fair concern. @dylanschultzie was actually in that discussion on discord that ended with everyone agreeing it would be on bizdev, so I doubt that we are risking that too many people are fixing the dev documentation

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Hey, I’ll weigh in on my perspective on this.

While you are correct that updating documentation is a deliverable under Support Team funding proposal, I don’t consider dev docs specifically to be the focus. The focus was on general upkeep, with an emphasis on infrastructure. Dev docs were a back-seat stretch goal to review, but not to the extent that needs doing, which is what I believe is in conversation here.

To that end, I have three things to add:

  1. @orageux101 reached out to me about going through the dev docs (including funding it*)
  2. Ryan reached out to offer a $1000 “bounty?” take the Figment dev sequence/classes and take notes of places the documentation is lacking
  3. I had a meeting with SCRT Labs last week regarding updating the dev docs

To both of them I had the same response: I’m more than happy to do it, but it’s considered low on my priority list right now. As @mumuse rightly pointed out, I’m already under funding for competing responsibilities and, in my mind, those take precedence. The best estimate I could provide them was being able to commit to Q1 of next year.

Orageux went a step further and suggested creating a team which includes Lumi and Gabreal, in which I would take lead to guide the process.

In that sense, I do believe they [Biz Dev] put a good foot forward to try and have the dev docs updated.

2 Likes

That’s excellent to hear!

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Thank you for chiming in.

For the record, I don’t consider your proposal to be focused on dev docs. I considered it a general documentation maintenance proposal. As for the rest of your comment, provided that it was given as a deliverable for the support proposal and that is funded through Feb 22nd, Q1 is fine with me.

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Thanks for this Dylan, apologies - I had some guests last night and wasn’t able to come over to respond.

I hope this answers your question @baedrik, and any other questions are completely welcome. I’m more than happy to talk to this current quarter if there are questions about it.

Yes, it answers my question about the progress made on updating dev docs. Still waiting on the answer to:

Also, can you describe what you will be doing differently in the coming quarter that requires you to charge for double the hours of the last proposal?

Chiming in here - SCRT Labs support this. BizDev committee is necessary in this time of growth and expansion, and the entire team has been working closely with us for the past few months which we appreciate.

I do think that the BizDev committee should take both (1) dev docs updating (as mentioned). This is key and critical for Q1. I would also appreciate if they take on a getting started guide + getting started (port your Terra app to Secret) guide. We identified these as must haves. (2) becoming liasions who both source new grants and review them (both pre-approval and post).

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Hey Baedrik,

Hopefully all other questions are answered from above.

Increased hours is just our expected increase in the scope of work we’re planning to do + an increase in the number of events we plan to attend. The engagement with projects, investors, and other interested parties is growing massively, and we expect to see it grow non-linearly over the next 12 months. We’re excited to back SCRT Labs and the Foundation with bringing 1000 applications and projects to the network in the next 12 months in the capacities mentioned above, and beyond.

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Sounds good. Thank you for the explanation

I get you support them because they take an amount of work off your plate, but can you please clarify exactly what bizdev has done that was worth $190k+ usd from the first proposal they passed? I’m worried about the scrt labs boost they get from your endorsement without anyone demonstrating we got the value out of it. As it stands, my understanding is they have literally added no value to the ecosystem.

3 Likes