gmDAO established PIAC to support members interested in launching revenue-generating projects.
The Project Incentive Award Committee (PIAC) reviews business plans, provides feedback to strengthen them, and votes on whether to:
a) Grant the award
b) Forward the proposal to a full-DAO vote
Structure and History
Formation: Interested members applied to join the committee.
Selection: Members were chosen through a full-DAO vote. The top 3 from this vote are added to the committee.
Compensation: Members earn $500 USDC per application review, capped at 10 reviews yearly.
Removal : In the unlikely event that a PIAC member is not meeting acceptable review and feedback standards, they can be removed from PIAC at any time via 2/3rds vote of PIAC or a full DAO vote.
Application process
1
Proposal Submission
Applicant groups submit a business plan for review.
2
PIAC Review
PIAC reviews the proposal, providing feedback until all parties finalize the content.
3
PIAC Approval
If approved by PIAC, a $10,000 award is granted as initial funding.
4
Full-DAO Vote
The proposal bypasses discussions and proceeds to a full-DAO vote.
5
Project Implementation
Upon DAO approval, applicants implement the project.
Proposal requirements
Align with gmDAO's mission statement.
Clearly detail all expenses, equity splits, and compensation rates.
Demonstrate projected cash flow positivity to the DAO treasury for the proposed term.
Offer reciprocal value to gm.embers, which will be given preferential consideration.
Be available exclusively for gmDAO members during the first year.
Be presented as a formal business proposal to the maximum extent possible
2. What's expected from submissions ?
The submission will be reviewed following the PIA Guidelines published below.
Guidelines
1) Problem:
What big problem are you solving?
How have you verified the problem exists and is burning?
What do you know about the market you are addressing?
2) Solution:
How will you solve the problem?
How have you verified the solution actually solves the problem?
How is your solution related to web 3.0?
3) Impact/Revenue model:
How are you creating value?
Have you verified the customers will be willing to pay for that or use it?
Do you have any qualitative or quantitative feedback from potential customers?
4) Competitors:
Who are your competitors?
Why do you think you have a good chance of winning against them?
What is the unique value proposition?
5) Milestone timeline:
How will you realize your business idea?
What will be your next steps in terms of milestones you will achieve, e.g. on a quarterly basis?
6) Team:
Why are you the right people to make this business idea work?
7) Funding:
How will you spend the PIA 10k?
Are you planning to have other sources of funding?
Why do you want to do this in a relationship with the DAO?
3. Submission process
The submission process should be an always improving process.
For the first submissions, and waiting for the PIAC to provide a submission template, the process will be the following:
Submit your proposal, covering the points listed in the Guidelines above.
PIAC provides an estimated review timeline
PIAC provides the feedback on the initial submission within a call with the project - aiming to provide it within a maximum of 2 weeks. The process involves reading the proposal, setting a call to discuss internally, reviewing individually the proposal, and consolidating the review to present it to candidates.
Candidates present their final submission to the PIAC.
PIAC provides its final feedback and results - the PIAC aims for a maximum of 2 weeks for this feedback.
