Build and integrate Bee's merch in the GM store

Proposal Information

TL;DR

General Magic is offering 1hive the ability to add their own merch to our swag shop , which can provide a revenue stream and be sent as xDAI to the Treasury Swarm Gnosis Safe, while at the same time allowing the community to support the project and be proud of wearing bee’s merch.

Proposal description:

General Magic offers full- service product, governance, and crypto-economic systems design for Impact DAOs. We’ve helped build and grow public goods projects such as Giveth, Commons Stack, Token Engineering Commons, clrFund, DAppNode, Ethereum Name Service and more. With deep roots in the Ethereum ecosystem, the General Magic team has Web3 professionals for virtually any need your DAO has!

We propose to add the 1hive brand to the GM shop, listing bee’s merch on the GM store. GM wants to have a marketplace used by impact DAOs. This is an opportunity to have your own swag listed and ready to be bought at the minimum cost possible, and would make profits almost right away (after covering initial costs).

Customers will be able to pay with fiat and crypto, right now our shop is deployed on the Gnosis chain and the payments can be done with its native token. If the community requests in the future we can add more options such as the ability to create a merch token that 1hive would fund and distribute at will for their community, or add new designs or merch for new seasons etc.

Proposal Rationale

1hive community can use the profits of the shop to provide a revenue stream as xDAI to the Treasury Swarm Gnosis Safe. Everyone in the community gets the chance to get 1hive merch, build fomo, brand loyalty, and support 1hive, knowing that the profits of swag are being used to benefit the community and its mission.

Team Information (For Funding Proposals)

General Magic is a group of Web3 professionals with deep roots in the Ethereum ecosystem offering full-service product, governance, and crypto-economic systems design for Impact DAOs.

Our team of designers, developers, system architects, researchers, writers, and seasoned Web3 professionals have the knowledge and insights to support the ever growing demands of Impact DAOs — both by integrating with existing teams and creating resources from scratch.

Learn more:

Website - https://generalmagic.io/
Twitter - https://twitter.com/generalmagicio

Funding Information (For Funding Proposals)

Amount of HNY requested:

85HNY (~$1,500 at current price)

Ethereum address where funds shall be transferred:

0xc8d65e1bd67f16522e3117b980e1c9d2caeb9dc3 (generalmagic.eth)

More detailed description of how funds will be handled and used:

$1,000 will be used to create 3 different designs, one for each category

$500 To set up the 1hive shop

Profits from 1hive swag sales will be shared 50-50, which means that 50% will be used to provide a revenue stream as xDAI to the Treasury Swarm Gnosis Safe and the other 50% will be retained by General Magic directly funding the work General Magic does supporting Impact DAO and Public Good organizations. This will also cover maintenance of the swag shop, which includes making improvements on the actual site and customer service such as dealing with order fulfillment, refunds, canceled orders, delivery issues, etc.

Besides the initial batch of products, if 1hive would like more designs in the future, GM could charge a one-off fee for any additional designs ($100 for a batch of 5 products).

2 Likes

Proposal link: Gardens

This sounds great! And affordable even in the woeful state of the price of HNY…

My one request would be the 1Hive’s portion of revenue be sent as xDAI to the Treasury Swarm Gnosis Safe instead of being used to buy HNY and sent to the Common Pool. I don’t imagine merch driving such a huge amount of revenue that it sustains the price of HNY, so I think it’s more valuable for 1Hive to get stables out of it.

1 Like

I don’t understand the reasoning behind it but there would be possible to send the revenue to a multisig if that’s what the community wants.

How do we manage to integrate the feedback into the proposal?

Doing some napkin math (correct me if these are way off):

  • $10 average profit per sale
  • $5 profit per sale for 1Hive
  • $1,500 in HNY sold on market to pay for development

= 300 sales until merch has a net positive effect on the price of HNY, and thousands of sales until it has any meaningful impact on sustaining the price of HNY.

I’m guessing it’s very unlikely we reach that level of sales, so rather than create negligible demand for HNY we can add stablecoins to our very small (~$15k) stablecoin treasury that really needs support.

2 Likes

I think you both have a point:

  • Receiving the donations in stables is more interesting than selling it for Honey. If the vision of the Treasury Swarm comes a reality we will be able to use conviction voting to request a part in of the funds in stables in the future, reducing the sell pressure of Honey.
  • I has more sense to send the stablecoin funds directly to the common pool, which is controlled by the entire community of Honey token holders.

In regards of the proposal, it’s the DAO trademark what is at stake, so I would request a Tao Voting validating the designs, and if the token holders are not satisfied with the result, General Magic should cancel the project and return half of the committed funds to the common pool. Would it have sense to you, folks?

1 Like

Edited the proposal as we agreed last Friday on the buzz call, which means that the 1hive’s revenue will be sent as xDai to the Treasury Swarm as @paul suggests. In regards to @sem feedback, we can do that especially since designs are the first thing we will be working on. We could also involve someone from the community for feedback before delivering.

That being said in the hypothetical case the community does not like the designs which will not happen!!. We can return half of the funds in stables at the price of selling the honey. And in those same lines, the price of honey already went down, so we will deliver and carry the volatility (won’t re-do the proposal unless it tanks way further) but if after delivery the community wants to send back the difference in stables that would be appreciated, not needed.

1 Like

The reimbursement could come from the first sold items, if you don’t mind. I’m going to support this proposal, so hopefully it will pass faster.

1 Like