The DAO of Cardano: a practical guide

[GENERAL] Name and surname of main applicant

Sheraz Ahmed

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Co proposers and Additional applicants

D.Jur. Nicola Massella, Legal & Compliance Dept.

Sophie Ivarsson, Marketing & Growth Dept.

Nara Babayeva, Branding & Design Team

Louis Beuque, Finance & Fundraising Dept.

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

6

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Recorded webinars and an easy-to-navigate wiki addressing the main risk areas to enable Cardano DAOs to form safely and succeed in building community, raising funds, and running great companies.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No Dependencies

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] Please provide here more information on the open source status of your project outputs

Fully open source.

[METADATA] SDG rating

SDG Goals

4 - Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

8 - Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9 - Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

SDG Subgoals

4.4 - By 2030, substantially increase the number of youth and adults who have relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship

Key Performance Indicator (KPI)

4.4.1 - Proportion of youth and adults with information and communications technology (ICT) skills, by type of skill

[SOLUTION] Please describe your proposed solution.

When DAOs approach STORM Partners, they have often reached the point where the risk and complexity of running a DAO has become overwhelming or regulation is forcing them to act. There are a lot of guides out there, but the information is fragmented, shallow, different depending on the jurisdiction, or not specific to the Cardano platform. 

We propose to create a series of webinars, summarized in a wiki-style guide, on what is really needed to build a successful DAO.

The Approach

Our goal is to produce a deeply pragmatic approach to DAOs that focuses on keeping members legally safe, ensuring the structure is able to deliver the outcomes it is supposed to, and if appropriate is equipped to make decisions that will fulfill the DAO’s purpose–including making money if that’s desired. The workshops will cover legal frameworks, compliance, tokenomics, branding, community building, and fundraising strategies. The impact of this project on participants will be:

• Enhanced knowledge and skills: Participants will acquire in-depth knowledge and practical skills to navigate legal challenges and implement effective marketing and fundraising strategies for their DAOs;
• Increased compliance: Participants will better understand legal frameworks, ensuring compliance with regulations and reducing legal risks;
• Improved governance: What should be decided by the DAO? What should be managed by individuals or a team? 
• Strengthened marketing strategies: Participants will develop robust marketing strategies, including branding and community engagement as well as hard tokenomics and incentives resulting in increased visibility and user adoption; and
• Improved understanding of fundraising strategies: Participants will be given a detailed overview of fundraising options within the Cardano ecosystem, ensuring the most appropriate strategy is selected based on desired outcomes and highlighting why the Cardano ecosystem is one of the best places to grow a DAO.

Targeted Audience

The event will be open to all, but we will specifically target individuals and organizations that are trying to create meaningful outcomes through the use of a DAO, including activist organizations, businesses trying to use DAOs to make part or all of their decisions or to engage users or consumers, and existing governance systems that might benefit the most from DAO implementation. It will suit all current or potential Cardano DAO builders who will benefit extensively from business and legal-detailed training led by experts.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community.

When designing this project, we focused on the value the challenge aims to bring to the community and answered it in a meaningful yet very pragmatic approach. 

• How can we make Cardano the go-to choice for building DAOs?
• What tools can we provide to enable effective DAOs Creation and Operation?

The Cardano DAO ecosystem can grow by improving the understanding and abilities of growth, operations and governance from a business and legal perspective. STORM Partners aims to fill this gap and offer unique, legal, marketing, and fundraising advice to Cardano DAO builders through our workshops. The latter will give Cardano a unique competitive advantage compared to other chains, attracting more communities to build on Cardano. 

The online workshops will also align with the following KPIs:

1. Number of communities collaborating using Cardano DAO creation tools.
2. Number of DAOs that use Cardano as a governance/management chain in 6 months.

As mentioned, the successful outcome of DAO creation resides not only in the effective implementation of software development/no-code services but also in the ability to select appropriate legal & compliance frameworks, marketing and fundraising strategies.

These aspects ensure the long-term survival of DAOs, allowing them to mitigate legal & compliance risks, nurture a solid community to leverage their participation and ensure a fundraising roadmap with proper financial planning.

Equipping DAO builders with pragmatic and professional advice in these areas will increase the long-term success of each project. Consequently, bolstering the number of DAOs in the Cardano ecosystem.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

STORM Partners has played an active role in the development of DAOs for many years now, from a participation, governance and strategic level. Our clients include innovative DAOs we have supported from a legal, compliance, and marketing perspective. 

Legal & Compliance Department has extensive experience with the legal recognition (and related regulation) of DAOs. We have incorporated several DAOs in Switzerland and abroad, registering them either as foundations or as associations (depending on the intrinsic characteristics of the projects and the different governance structures), and we are always up-to-date on regulatory changes to mitigate our clients’ regulatory risks.

Marketing & Growth Department has helped curate high-level go-to-market strategies while providing the affiliated brand research and guidance needed to become a leading DAO, helping with long-term communications, social media, public relations, growth hacking, personal branding, and influencer programs.

Finance & Fundraising Department has a successful track record in developing articulated fundraising strategies and financial planning. Areas of expertise include tokenomics mechanisms, nurturing investor relations, pitch deck structuring, etc.

As a founding member of DAO Suisse, we seek to strengthen leadership in Web3 by focusing on overcoming the challenges faced by DAOs operating here and abroad.

We are also highly active in the Cardano ecosystem and have contributed through various initiatives and events to strengthen and shape its community and ecosystem. Some of our Cardano contributions and initiatives include:

• Sheraz Ahmed as Master of Ceremony at the Cardano Summit 2022 in Lausanne.
• Host at the Crypto Valley Conference 2022 & 2023, welcoming Frederik Gregaard.
• Executive Leadership at Crypto Valley Association coordinating activities with Cardano Foundation to promote the ecosystem in Zug and abroad.
• Participated in various Cardano side-events / meetups such as the London Masterclass and Meetup on 9th May 2023.
• Contribution to CIP-1694 workshop in Zug in June 2023.
• Early-stage private investors in Cardano projects such as MELD.
• Nicola Massella Conducted a Legal Masterclass on Legal and Regulatory Aspects of Staking Mechanisms at the Cardano Summit 2023
• Sheraz Ahmed Judged the hackathon at the Cardano Summit 2023, and also contributed to the prize pool.
• Influencer campaigns for Cardano Spot

We understand the importance of financial planning, budgeting, processes and accountability for the engagement we perform. Specifically, we will deploy progress updates. The team will regularly update each milestone with detailed explanations of a given task, with hours employed, outcomes and measurements. The updates will include reports on KPIs and metrics reached and strategic and implementation adjustments due to emerging issues or changes in the Cardano DAO ecosystem.

[Project Milestones] What are the key milestones you need to achieve in order to complete your project successfully?

Reach out to all the Cardano DAOs listed on https://builtoncardano.com/ecosystem/dao and conduct short discovery calls to identify what they wished they’d known, what they still wish they knew, and what turned out to be unimportant. Research will be conducted simultaneously by our legal, marketing, and fundraising teams, as well as early content to make the community aware of the upcoming events.

Milestone output(s)

• Research of current and evolving legal, marketing and fundraising DAO environment. Survey rollout to Cardano DAOs for the relevance of content. Creation of an online subscription link. Start of event advertisement;

Acceptance criteria 

• 80% of the listed entities were contacted up to three times on at least two mediums for the survey.
• A segmented and data-backed report on where problems and opportunities lie, as well as a qualitative assessment of the information.

Info provided to verify the milestone achievement 

• A list of DAOs and contact attempts (or meeting dates and data in the report).
• A document containing notes from the raw research conducted.

Workshops conducted on the most pressing issues reported by the survey respondents and as determined by the experts on the team.

Milestone output(s)

• All content preparation. Slide design. Continued marketing efforts
• Up to four workshops conducted in-person in the Geneva area during the duration of the project developed based on the survey results and expert inputs.

Acceptance criteria 

• At least three workshops completed.

Info provided to verify the milestone achievement 

• Pictures and recordings of the sessions that can be watched by the community, with stats on dates and attendance (while maintaining attendee privacy)

A second round of outreach to the Cardano DAOs and also to workshop/webinar attendees so we can identify the points of highest interest and utility, close any gaps, and finalize the research 

Milestone output(s)

• Creation of a second survey for content delivery feedback. Sending the survey to all participants
• Refinements to the research and materials based on community feedback.

Acceptance criteria 

• All of the listed Cardano DAOs and attendees contacted and feedback compiled.
• Feedback incorporated into the final design for the wiki and materials.

Info provided to verify the milestone achievement 

• List of DAOs and contact attempts or meetings booked.
• #s on attendee outreach and meetings–no names for privacy reasons
• A report on the feedback received

A wiki or Notion page containing the knowledge and lessons learned from the surveys, the workshops, and interactions with the community.

Milestone output(s)

• A wiki or Notion page divided into the different topics and sections containing the information, (links to the) videos, and project results.

Acceptance criteria 

• At least one page on the survey results, each workshop, and the outcome of community interaction.

Info provided to verify the milestone achievement 

• The wiki itself.

[RESOURCES] Who is in the project team and what are their roles?

egal & Compliance Department - Legal Workshop

Nicola Massella - Partner & Head of Legal

https://www.linkedin.com/in/nicolamassella 

D.Jur. Nicola Massella is an expert on crypto-assets and blockchain technology regulation with a commitment to decentralising and democratising capital markets. He is the head of STORM Partners’ Legal & Compliance Department. Additionally, he is engaged pro bono as Legal Research Officer at the Blockchain & Climate Institute and as a member of the Regulatory Working Group at the Crypto Valley Association. He developed specific expertise concerning DAOs by assisting multiple decentralised organisations in establishing a sound legal structure.

Marketing Department - Marketing Workshop and Design

Sophie Ivarsson - Marketing Director focused on Growth

https://www.linkedin.com/in/sophie-ivarsson-815491b1/ 

Sophie has spent the last ten years becoming an expert growth marketer on the road to mastery. She has worked for large organisations like Lego and also helped launch two startups, both of which have transitioned to stable and profitable concerns. She’s an expert strategist and team builder, which translates directly into how to structure and grow a brand and business.

Nara Babayeva - Graphic Designer

https://www.linkedin.com/in/nara-babayeva-797251119 

Nara, an accomplished designer based in Istanbul, has worked on international projects related to web3 and the metaverse. With six years of experience in graphic design, Nara specialises in brand identity, social media, and UX/UI. They hold an MBA degree in Visual Marketing, which enhances their ability to approach design strategically. Their designs seamlessly blend global trends with localised aesthetics, resonating with audiences across borders.

Finance & Fundraising - Fundraising workshop

Louis Beuque - Fundraising Manager

https://www.linkedin.com/in/louis-beuque-4153b0104 

Co-founder of a DAO focused on entertainment, Louis has been operating as a Head of Investor Relations and Fundraising Manager for more than 13 projects over 2022 cumulating more than $60M. Originally focused on top-tier projects such as Polygon, he has been more recently raising for upcoming blockchain-based projects and DAOs, which he recognises as more exciting and as a future trend in Web3.

Project Coordinator - 

Sheraz Ahmed - Managing Partner

https://www.linkedin.com/in/sherazahmed1/

Sheraz Ahmed has advised hundreds of organisations on the implementation of modern Web3 practices to further their business objectives. As the Managing Partner of STORM Partners, an all-in-one service provider, and as the Co-Executive Director of the Crypto Valley Association, he drives growth, collaboration, and integrity across the global blockchain ecosystem!

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources.

Here are some conservative estimates. We can always sink more time into outreach and marketing activities if the ADA goes up.

• Project Management and Coordination (overall)
• Outreach to community 30%
• Event Coordination and organisation: 40%
• Survey creation, data analysis, report creation 30%

Subtotal (24 weeks) = 14000 ADA

• Research and content creation (milestone 1):
• Marketing 20-30h, ~16000 ADA
• Legal 20-40h, ~25000 ADA
• Fundraising, 15-25h ~16000 ADA

Subtotal (Draft guide and materials) = 57000 ADA

• Workshop preparation and delivery (milestone 2):
• Marketing15-20h ~9000 ADA
• Legal 15-20h ~17750 ADA
• Fundraising 15-20h ~9000 ADA

Subtotal (3+ workshops) = 35750 ADA

• Marketing expenses (Milestone 1, 3, 4): 
• Advertisements on social media platforms: 10%
• Reaching out to relevant communities: 50% 
• Event organisation, moderation and link creation: 40% 

Subtotal = 23800 ADA

• Playbook creation and Graphic Designer (Milestone 4):
• Drafting and consolidation of information: ~16h = 5600 ADA 
• Graphic Design for clarity: 5-10h= 3500 ADA 

Subtotal = 9'100 ADA

Miscellaneous: 8'500 ADA (5% circa of total sum)

Grand Total: 148'150 ADA 

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

As showcased, STORM Partners comprises highly skilled individuals who are leaders in their respective areas with multiple years of experience on Web3 projects and involvement in the Cardano Ecosystem. Furthermore, the project would not only directly benefit the participants in the online workshops but would also serve as a trampoline to increase the reputation and awareness of Cardano DAOs in Switzerland and internationally.

By leveraging our existing network in Web3, social media presence and marketing efforts, we will contribute to the betterment of the reputation of the Cardano DAO ecosystem. We want it to be the go-to place for DAO builders and collaborators. Most importantly, the cost associated with the project will democratise information which is often hard to obtain and scarce in the market. 

STORM Partners have applied competitive market rates for the types of expertise and quality of the delivery in the context of a leading Web3 consultancy firm.

[IMPORTANT NOTE] The Applicant agrees to Fund Rules and also that data in the submission form and other data provided by the project team during the course of the project will be publicly available.

I Accept