PixelDAO Launch Grant Proposal ($50K)

Funding Proposals Grants
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PixelDAO Launch Application

Application Type: Launch

Project: PixelDAO

Overview of PixelDAO

Our vision is to become the premier protocol owned liquidity metaplay incubator and an accelerator of metaverse game development across chains. We will utilize the protocol-owned liquidity model to bootstrap our treasury with FRAX and Metaverse assets, then deploy our capital to invest into new and promising P2E/Metaverse projects while leveraging our network to give our partners an edge in this burgeoning sector

Our three lines of effort are: Expertise, Network, and Capital

Expertise - A community of experts available for consulting on a variety of topics to directly assist in the growth potential of the games and products of our partners and portfolio. A team of experienced and reputable investors providing consistent feedback and treasury management.

Network - An entire ecosystem of creatives, developers, marketing specialists and financial experts that can help accelerate our partner’s projects. We leverage the reach of not only the core team but the community as well.

Capital - Employing the POL model to build our treasury and grow our pool of deployable capital in yield generating strategies and seed investments in Metaverse and GameFi ecosystem projects that we partner with.

*Additional PixelDAO brand products and platforms are in the pipeline as well.

What stage of the product or idea are you at?

We have just completed our Whitelist sale and are heading into Price Discovery in around 2 hours (00:00GMT, January 20th, 2022).

How many active users do you currently have, or aim to acquire?

We are currently sitting at:

Our goal is to be reviewed based off PVL and Daily Trading volume as we see it as a better metric

  • TVL = $30 Million+
  • Trading Volume = $200K+

Funding

This request for funding aligns with the criteria for Launch Funding I.e. $50K.

  • $10K after launching a feature-complete product on our testnet

    • Complete

  • $10K after forming a DAO with 5-out-of-9 multisig with our DAOs

    • Pending
    • Awaiting response from 3 Governors from Harmony DAOs - ONEcommunityDAO, ONEdeveloperDAO, ONEincubatorDAO

  • $10K after launching on our mainnet with audit

  • We will not be asking for the below as we see TVL and Daily Trading Volume as better metrics

    • $10K after 1K daily active users (with launch video, full PR promotion)
    • $10K after 10k daily active users (with a detailed roadmap, governance process)

  • Instead we are asking for these launch based incentives

    • $10K when TVL = $2 Million and Daily Trading Volume = $20K

      • Complete at $2 Million + TVL & 2.1 Milion Trading volume in the past 24 hours
      • DEX Screener

    • $10K when TVL = $20 Million and Daily Trading Volume = $200K

  • However, if the community instead would like us to use our Daily Active Users as a metric, this can be gauged with the #of transactions and total #of $PXL holders.

Proposal
Additional funding via investment, grants or bounties will be done separately.

We will be seeking or raising funds for:

  • Marketing
  • Code Audits
  • Community Engagement
  • Mod & Contributor Payments
  • Funding a full 24/7 outreach team

What are your milestones?

The immediate milestones are:

  • Launching a feature-complete product on our testnet
  • Forming a DAO with 5-out-of-9 multisig with our DAOs
  • Launched on Harmony mainnet (current being reviewed by MCN)
  • TVL $2 Million & 2.1 Milion Trading volume in the past 24 hours
    - DEX Screener

Metrics for Success

  • $10K when TVL = $2 Million and Daily Trading Volume = $200,000
  • $10K when TVL = $20 Million and Daily Trading Volume = $2 Million

Detailed Roadmap & Governance Process

Roadmap

  • Project Incubations & Acceleration → Continuous (Min. of 2 every Quarter)
  • Whitelist Launch → January 16, 2022
  • Price Discovery Period → January 20, 2022
  • Developing + Marketing Consulting Services → Q1 2022
  • Public Launch → End of January Q1 2022
  • Project Mata → Q2 2022
  • Game Beta Testing Service → Q2 2022
  • Constructing a credit centered service around Metaplay assets → Q3 2022
  • Purchasing & Launch of Game Studio → Q4 2022

Governance

At Pixel DAO we are committed to transitioning to a decentralized governance model but at the same time recognize it is very difficult to effectively coordinate an agile and adaptable organization with a vision and operational mandate such as ours. To ensure the long term health, stability and adaptability of the protocol we will be adopting a transitory structure that facilitates a smooth shift from centralized team control to a decentralized structure in a time bound manner.

Currently, economic policy and allocation authorities are, and will be held by the core team/multisigs who will be supported by advisors, and interim council members selected from the community Sages.

The interim council members will be split into three general areas of responsibility and support the decision making of the team through experience, research, due diligence and other inputs as required. This will ensure balance between what may be divergent priorities but ensure rapid decision making and control.

With regards to the Treasury multisigs, we will utilize a 4/7 rule to execute activities in line with the DAO’s mandate during the initial post launch period and into the transitory period. While this may ultimately be changed by the community, final treasury decisions and execution will rest with the core team and multisigs, supported by the advisors and interim council members for up to the first 90 days after launch. At that time a community vote will be held to determine the way forward.

External Links

7 Likes
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Hey PixelDAO team. A few questions to help us understand what you’re trying to do.

First, can you explain the statement below using plain language, no jargon.

Second, based on my understanding, it sounds like you might be forking Olympus to create a treasury, and then deploying that treasure to make investments in the gaming vertical. True/False? There are over 1000 Olympus forks - besides the focus on the gaming vertical, is there anything else different?

Third, okay, I just read through your docs here: Protocol Details - Pixel DAO Docs - yup, almost all of it was copied from Olympus. So back to my question - how are you guys different other than deploying the treasury on the gaming vertical?

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Sounds great. Lets make it work.

2 Likes
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Hey, I’ve taken some time to write out a reply but let me introduce myself first. My name is Jasper, I’m one of the first few members of Pixel and came onboard because of my experience with DAOs and governance.

Before directly answering your questions I’d like to give a very quick and high level overview of how I view the project. The Pixel protocol is a fork of the Olympus protocol, which we use to bootstrap our treasury, liquidity, and community. Over the past few months it has been a proven method for organisations to get a start that traditionally was near impossible to do without a VC funding round. Our aim was to use this model to create a fair launch. This protocol does not entirely represent what the DAO will be doing.

Once established, we plan to invest in, and incubate, p2e/gamefi games. Through certain programs DAO members will be able to directly take part in these investment rounds. We are already in various stages of discussions with at least three projects and are considering offering early co-investments to our DAO members.

The idea here is that after our fair launch, we offer enough incentives to, and with, our community members for them to stay invested. Community members not only have a voice in how we research our investments, but of course will be able to vote through the respective governance platforms.

In short, we aim to use part of our treasury to fund blockchain native (and perhaps down the line traditional) gaming projects we believe to be valuable.

We’ll be developing our own P2E game alongside 0xConsoles.

We plan to equip gaming projects with the necessary resources we believe will best set them up for success. This support extends beyond funding to providing them access to PixelDAO contributors and connections the team has within our network, and providing mentorship and coaching support in areas of development. Other areas of support would include beta testing, marketing consultancy, and we’re discussing a credit service around metaplay assets. There are more aspects to what we would be able to offer during this incubation process, but I’ll leave that for others to clarify if there’s a need for that.

I hope my overview above answers this question, if not please let me know.

So you’re not wrong, we plan to use the treasury in a more ‘traditional’ Ohm way as well. However I believe the investments/incubations/native projects are what make us different. Not only that, but we want to offer DAO members a direct way to take part in these investment rounds. Private funding rounds have never been accessible to the public, and that’s where we aim to stand out, alongside other details mentioned in this reply.

I hope this answers all of your questions. If there’s anything further I’d be glad to answer if other community members haven’t already.

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Hi Papi,

Let me introduce myself before, I am Mridll a part of the team at PixelDAO helping with operations and Research. I will add some more context on how the Pixel is not just a fork of the Olympus Protocol and has a broader set of goals in the short-to-medium term

I would like to elaborate on Pixel being a hub, not only for gamefi, but also for web3 user on-boarding and mass adoption(value add/capture). As such, Pixel’s infrastructure is deploying resources to develop tools/resources/thought capital that would facilitate this.

And in-house over the past 2 months, we have amassed a sizable talent pool within our sages that is working towards creating a body of work that covers various facets of Gaming / Metaverse and aims to educate the populace with various aspects of the same and push new analysis out there in the open.

On the product front while we may initially be dependent on the Protocol owned liquidity model to boot-strap our treasury, we have the below product goals in our roadmap:

  1. Over the next quarter we aim to organize a guild:

The guild’s primary objective would be to assist our partner projects in identifying kinks in their UI/UX models, currency sinks, and aspects of game design. Other than the traditional functions a guild does perform.

  1. Launching a Metaverse Asset-focused collateral service that churns profits back to the treasury.

    3.PXL Accelerator-

Our accelerator will assist extremely early-stage projects to launch their projects while providing them the value additives my friend yarode previously talked ok. Additionally, PXL holders or stakers will have early access to whitelists/initial offerings.

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Hi Papi,

Let me introduce myself before, I am Mridll a part of the team at PixelDAO helping with operations and Research. I will add some more context on how the Pixel is not just a fork of the Olympus Protocol and has a broader set of goals in the short-to-medium term

I would like to elaborate on Pixel being a hub, not only for gamefi, but also for web3 user onboarding and mass adoption(value add/capture). As such, Pixel’s infrastructure is deploying resources to develop tools/resources/thought capital that would facilitate this.

And in-house over the past 2 months, we have amassed a sizable talent pool within our sages that is working towards creating a body of work that covers various facets of Gaming / Metaverse and aims to educate the populace with various aspects of the same and push new analysis out there in the open.

One key difference between us and Olympus or other forks is the fact that our ve (3,3) in POL part is not based on sectarian belief but on a purely rationality: opportunities for co-investment with the DAO on the basis of our participation within the DAOs monetary system.

On the product front while we may initially be dependent on the Ohm Based model to boot-strap our treasury, we have the below product goals in our roadmap:

  1. Over the next quarter we aim to organize a guild:

The guild’s primary objective would be to assist our partner projects in identifying kinks in their UI/UX models, currency sinks, and aspects of game design. Other than the traditional functions a guild does perform.

  1. Launching a Metaverse Asset-focused collateral service that churns profits back to the treasury.

It is a nascent concept in the defi world, where many proofs-of-concept exist out in the open. We aim to create a protocol that supports a wide number of assets and their collateralization to unlock liquidity at a short notice.

  1. PXL Launchpad-

Our launchpad will assist extremely early-stage projects to launch their projects, where PXL holders or stakers will have early access to whitelists/initial offerings.

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With regard to what you’re doing currently, and/or what you intend to do, as an investment fund, what are the legal considerations the PixelDAO have taken into account, if any?

I’ve checked quite a few places and not found much information of this sort on the website/discord/medium/etc.

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We are going to incorporate a legal entity that can act on the behalf of DAO when it comes to signing legal agreements, SAFTs etc.

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This is a worthy project. I invest in many different defi, gaming, L1, L2, social, etc, and being in their discord community, I can tell they are well organized and professional. They have held strong, even through the recent Harmony network outages. I highly suggest Harmony gives them high consideration, thank you.

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seems solid project, good luck guys

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Thanks.

Another question: we have a very close relationship with Yield Guild and Blackpool. Do you see them as competitors and, if not, how would you work with them if at all?

Both Blackpool and Yield Guild have large player bases and a lot of capital - what value will you provide games and devs building on Harmony that they don’t already provide?

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Love the Diamond Hair program

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Hey, to be frank I don’t see how this relates to the DAO grant. Not only is competition generally a good thing, but the space also isn’t saturated to the point where YGG and Blackpool being present means we don’t have opportunities to benefit the space (or market). As mentioned previously, we’re already in an advanced stage of working out a deal with three different projects.

Of course we’d be looking to cooperate in the future, we’re not here to try to steal anyone’s lunch. We firmly believe there’s room for everyone to work alongside each other. As I understand, YGG incubates games & scholarships while Blackpool currently functions as an NFT investment fund with plans to offer financial derivatives. While we may have some overlap with YGG we do not believe there’s any reason for us not to be able to co-exist. Even if we were to target the same projects for investments, YGG wanting to invest does not mean there’s no space for us at the table and vice versa. I’m sure you know that investment rounds are not limited to one investor. As for Blackpool, the only overlap I see is that we may wish to allocate a very small percentage (think 1-2%) of our treasury to NFTs, but this seems irrelevant.

If you’re not satisfied with this answer could you please clarify the origin of your question, and why it matters that you have a close relationship with YGG and Blackpool. That would allow me to give you a more concise and explanatory answer.

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Hi @papi,

I just wanted to add to this:

We welcome working together with different guilds and projects as connectivity is something that we pride ourselves in. That is why we’ve had multiple projects reach out to us with a willingness to work with us, amongst all the other services / incentives we are looking to provide.

So, we welcome building a relationship with YGG and Blackpool along with yourself and your teaml! We also love how Harmony has a relationship with these two guilds as well, I personally think it is fantastic that this relationship exists.

Thank you,
Saint

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Thanks for answering my questions. A few more quick questions -

  • What’s your relationship with 0xconsoles and what work will you be doing together?
  • How will value accrue to rPXL?
17

Ok guys, approved! Excited to have you on board.

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Thanks papi. Will use this to fund operations + a few outstanding DAO members who put work in during the past 3 months. Not a single dime going to myself nor any other core team members.

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Thank you for the approval @papi and Harmony team!

We are estactic to be building on this ecosystem and further working with your team as well to create something incredible.

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Apologies for the late reply, thanks for having us! We’ll make sure to put these funds to great use to not only reward previous contributors but also improve the workflows of our DAO and onboard new members. Happy to be around :slight_smile:

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@papi @lij

As we have no response from the CommunityDAOS re: multisig. Are we ok to have the following as our multisigs:

  • 3 core team
  • 3 contributers chosen from the community (our sage programs)
  • 3 mods

Thank you,
Saint