BizDev committee proposal Q2

BizDev Committee Funding Proposal - Q2 - A

This proposal is for the on-chain funding period 01 April 2022 to 30 June 2022.

BizDev has had an exceptionally busy quarter as we went deeper with some of our larger leads, stepped into supporting the Grant program with Secret Labs, and led the charge in coordinating and funding better documentation on the network. The team has also engaged with a long time professional outbound leads manager to provide new opportunities for different partners and projects across the network (more on that later). In conjunction, Ryan will be taking a temporary Hiatus for Q2 to focus efforts on his upcoming NFT project The Golden Dragon (#Shamelessplug). He will continue to offer BizDev services, including grant reviews for Secret Labs, Pro-bono to provide continuity to the team, Secret Labs, and the community, and will return in the following quarter(s).

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.

Q1 Lookback and Highlights:

  • Organized Network Documentation Upgrades (Including funding phase 1 and organizing funding for phase 2). Planned Phases with @schultzie and team. Forum posts can be found here. Phase 2 status can be found here. Planned Phase 3 (To include things like App porting from other networks, etc).
  • Started Grant Reviews for Secret Labs, decreased turnaround time on grant submission to interview times and outcome finalization.
  • Jay led the charge in executing on high level partnerships and introductions with leads generated out of Lisbon and Miami from Q4.
  • Ryan started the onboard of Dan (AlPudgino) (qualifications listed below) to amplify team efforts in developing our outbound leads platform, process, and market strategy.
  • Team coordinated Keplr Cluster upgrades and funded new support clusters to help with Keplr stabilization.

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.

  • Build outbound lead system to invite new talent, applications, VC’s, and developers to the network.

  • Aggressively ramp up outbound marketing strategy, pitch, pitch deck to address specific target demographics for all Projects, Partners, and Dapp’s on the network.

  • Provide Business Mentorship resources to the upcoming Secret Network Hackathon.

  • Continue to 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;

  • Continue to field new grant requests in partnership with Secret Labs.

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.
  • Assist in scaling hackathons to include 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.

Metrics:

Biz Dev - Q4 - Metrics
Grant Reviews: 16
Meetings with dApp teams: 32
Meetings with NFT projects, artists, teams: 11
Initiatives Funded: 2
Initiatives On-going: 2
Initiatives Complete: 0
Reports: 0

Discretionary Budget Accounting:

Inflow - SCRT
Discretionary Rollover 6,320
Outflow - SCRT
Initiative - Dev Docs - Phase 1 -1,345
Dev Upskill Program (Final) -143
Keplr Cluster Upgrade -860
Total 3,972

Budget Request

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

Jay | 𝕊hadowRealm = $65/hr | 40 Hours/wk | Apr-Jun

  • 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 while navigating an equity partnership with American Traffic Solution (ATS) and Goldman Sachs.
  • VC and current consultant to a “best-in-state” marijuana company with over $300mm annual revenue and growth of 250% per annum.
  • Long-term active validator on Secret Network.
  • Crypto investor and privacy advocate since 2014

Dan | AlPudgino = $65/hr | 40 Hours/wk | Apr-Jun

  • 12 years of professional experience as a real estate entrepreneur - founded a real estate brokerage based out of NYC.
  • Successfully built and developed a sophisticated cold email system and data aggregator to track down and get in touch with buyer and seller leads
  • GP in a defi fund with the CTO of decrypt and one of the founders of RugDoc
  • Former Business Development and Marketing for defi protocols Alpaca Finance (leveraged yield farming on bsc) and Insurance (defi insurance)
  • BS in Accounting from Queens/Baruch College in NYC

Discretionary Budget

  • Additional Discretionary Budget Ask: $2500

Total Ask

Jay | 𝕊hadowRealm = $65/hr | 40 Hours/wk | Apr-June 6,500 SCRT

Dan | AlPudgino = $65/hr | 40 Hours/wk | Apr-June 6,500 SCRT

Discretionary Budget = 520 SCRT

Total SCRT = 13,520 @ $4.80 current price, no buffer as we don’t support the practice

4 Likes

This is an easy yes from me. $65 / hour given the qualifications of the leads is a great deal, particularly for a topic as important as BizDev. Thank you both!

1 Like

Seems like a relatively small investment…

1 Like

The Developer documentation overhaul is listed as one of the main achievements and i had some questions on how Bizdev plans to do more with this goal.

The current phased plan proposed by Schultzie is more of a bandaid solution which sadly only has a few people working on it due to how hard it is to find people who have enough time and expertise to commit to this endeavor. Bizdev itself mostly helped with setting this plan up but i dont think they worked any hours on this project beyond that. Besides docs.scrt.network there is a team called Secret university working on Developer on boarding material and the Dev committee is working on mentoring developers and making more open source tooling and libraries.

I guess my question is, what actually is the role of bizdev in the whole documentation roadmap and can we expect Bizdev to take more of a leading role in resourcing people and capital to combine all 3 efforts and get a top notch developer documentation and learning pathway setup? Would Bizdev need additional discretionary budget to hire people to create this documentation?

A 2nd comment by me would be about contacting BizDev. It seems like it is hard for the average interested community member to get in contact with BizDev via their main channels. With this i mean that there is barely any open communication with people posting in the #bizdev and #dapp-ideas channels in the SN discord. You guys might actually have a lot of contact behind closed doors but that is hard to measure.

Can the BizDev committee put some more hours into actively conversing with community members in this open channels so that the moderation of these channels falls away from the awareness committee and the Agent coordinators. Even though they try their best they do not have the connections and business expertise to discuss potential business and development ideas with the community.

It has always been hard for the bizdev committee to show progress without leaking things not meant for the public eye, if these questions can be answered i feel more secure about the work you guys will do with the proposed funds. The developer documentation is very important and if Bizdev can take a lead on this and set up more things for people to work on i think it will be beneficial for the entire ecosystem.

3 Likes

Hey Ertemann,

We’re glad you’re able to recognize the importance of the Developer Documentation and it’s role that it plays in the network. When we first took this on, and as you’ve even mentioned, it was largely a coordination effort that we didn’t feel really even belonged to BizDev. However, no one has stepped forward to coordinate the efforts involved in that. Since taking on the effort, which has strictly been coordination and funds sourcing, both Phase 1 and Part of phase 2 have been successfully worked on, which is several efforts above the casual nature of the documentation before. We’d love to see someone with deep technical prowess take the leadership on this, as it’s not the typical forte of a business development unit. (Maybe a good time to discuss passing the baton to the new development committee? Seems like a sound fit). If there’s still no one that’s interested in taking this forward and there’s not crossover with the aforementioned University, we’d be happy to partner with you and other community members to figure out how to attract talent and manage that talent + resources if the current phases aren’t providing what’s needed throughout the network.

In regards to transparency, we’ve provided the metrics above to give insight into the efforts bizdev has put fourth. Contacting us has never been difficult, as a majority of the bizdev channel tags are addressed via dm through discord. We could always make better effort in acknowledging we’ve responded in the channel but the typical discord flow is: 1.) Someone reaches out in the channel. A member tags either Jay or I. 2.) Once they see our name’s tagged, we typically get a DM and the conversation moves forward from there. I’d say probably 50-70% of the time, the individuals have ideas they want to discuss, opportunities they want to pitch, or resources they need help with but are not yet looking to advertise the idea/make it public. We track everything we do in a combined worksheet with Secret Labs who can hopefully vouche for the efforts we’re putting in behind closed doors.

BizDev accessibility is also expanding this quarter to include outbound efforts, starting with but not limited to Secret Labs efforts and projects coming up. In addition, we’ve slowly been reaching out to any projects we can think of currently on the network to introduce our new outbound service that entails working with the partner projects, identifying their current business development goals, and then working to develop outbound lead flows for those goals, including but not limited to pitch messaging, cold emailing, lead flow workflow design. This service is available for ALL projects and participants of the network, although there is some ramp up currently happening over the next several weeks as our newest member is able to get acquainted with our core participants.

Hope this helps to some degree, let us know if you’ve any additional questions. Also feel free to reach out outside of the forum periods, as we’d love to address any concerns as they’re happening, ahead of time, and in the moment. BizDev is here to help in any way we can.

Thats a “yes” for me Bob.