Hi, community!
Layer 3 Ecollective received funding at the end of November 2023 → [EGP] Layer 3 Ecollective subDAO funding request
We received 1.87M Eco defined on the following areas:
- 1.37M Eco to marketing programs aimed at attracting people to the ecosystem.
- Be Influential program - 1.22M Eco
- Eco Community Experiences in Thesandbox metaverse - 150K Eco
- 300K Eco for the Culture & Vibes initiative.
- 200K Eco for Reserve Fund.
Be Influential program results:
1.1M Eco out of 1.22M were sent as rewards to 16 participants. tx: Ethereum Transaction Hash (Txhash) Details | Etherscan
Of these 16 participants, 14 met all the conditions of the program and received full rewards, while another 2 received partial rewards. From these 16 we had participants from Turkey (1), Nigeria (8), Ukraine&Russia (6), and US (1).
These participants created 442 pieces of content within 3 months. 442 pieces of content have been checked and evaluated by Layer 3 member @ihar7824 with partial help from @IgreX and @olgatelb. All these pieces of content generated about 780 000 views on Twitter, of which we estimate that about 272 000 belong to organic traffic and about 508 000 to semi-organic traffic.
We can compare the results obtained with an ambassador program at Optimism collective as part of RetroPGF2. They claim here Ambassadors retroPGF 3 Impact - Google Docs and here Agora - Home of Optimism Voters that the 309 participants in their program made 1,073 pieces of content (what qualified) and generated about 1.6M views. For this they received funding of 100K OP, which at the time equaled about $300K.
In our program, 16 participants made 442 pieces of content and were able to generate 780,000 views for about 20 times less money (about $16.5K). Such success is the result of proper networking, preparation, and well-designed Be Influential program rules.
The region of Nigeria and Turkey gained the largest share of views.
The main positive outcome of the program can be considered the creation of a large amount of quality content about Eco and Beam, as well as the deep integration of the program participants into the community: 7 participants decided to become Layer 3 candidates, 1 participant held a successful Beam event in Nigeria, another participant from Nigeria showed interest in integrating Beam into private businesses in his city.
On the other hand, it is worth noting that such a program did not add a significant number of new community members beyond the program participants themselves, nor did it significantly increase the followers of Beam and Eco’s Twitter pages.
Some more insights about the program and a couple of links to tweets can be found in the previous report - Layer 3 Ecollective informal report on progress #2 (29th January)
The unspent portion of funds from the program (120K Eco) went to the Culture & Vibes fund and was used to fund the New York City Beam event, which has yet to take place at the end of March. Snapshot
150K Eco for the Eco Community Experiences in Thesandbox metaverse will be returned to the Eco protocol treasury, as plans have changed and the funds have not been used.
300K Eco Culture & Vibes allocation.
-
30K Eco for Mint NFT Beam 2024 by Slava Snapshot
28 unique minters minted 70 items. This resulted in about 0,009 OETH in income (˜34$ in todays prices). -
70K Eco for Litany against doubt bonuses proposal by @Irina2610 . Snapshot
-
90K Eco for the proposal for an event in Uyo, Nigeria by ihar and Alex. Snapshot
The first community-driven event was attended by about 100 people. About 57 tx sent to different wallets (wallets created) to attendees (about 11400 Eco distributed [200 per person]). 12 income txs to the merchant account Contract Address 0xd540b5d039bd937874f5237df7996beed48ed9d4 | OP Mainnet resulting in 12 wallets activated and 620 Eco returned during the event. We had about 20 good quality tweets sent out during the event from participants, some of them can be seen here https://twitter.com/ecolytes.
https://x.com/ecolytes/status/1755927403027673345
https://x.com/FrankAkiba060/status/1755940882765771240
https://x.com/nueleffiong/status/1755935716012421495
https://x.com/honourable_Petr/status/1755992989002838372
https://x.com/faith_shadrach/status/1756613588796469683
https://x.com/QueenDDebbie/status/1756619878713155831 -
59800 Eco for the Meme competition on Twitter #justwalletbeam proposal by @Docdim sadheadcrab and @IgreX Snapshot
Participation Metrics: A total of 45 Twitter users published at least one post using the hashtag #justwalletbeam. 36 participants submitted links to their memes on Discord to enter the contest. A total of 66 memes were posted on Discord.
Engagement Metrics: The total number of views, including the contest announcement, was 46,547. The total number of likes on all memes submitted to the contest, including the announcement, was 1,058. The total number of retweets of submitted memes, including the announcement, was 437. The number of comments on the memes, including contest announcements, was 311.
Subscriber Growth: Beam Wallet’s Official Twitter Page https://twitter.com/beam_eco: At least 25 new followers. Eco Community Twitter Page https://twitter.com/ecolytes: 70 new followers. Discord ECO Server: 23 new participants with a Researcher role.
First place meme: https://x.com/iamcIoud/status/1758479200338800806
Second place: https://x.com/miIIIdat/status/1762166688810725572
Third: https://x.com/olgatelb/status/1762918601961693392
More in-depth report is available on Discord → Discord -
30K Eco for the “Beam Art” NFT proposal by Slava Snapshot
This activity is still ongoing, BEAM | mint.fun . Unique minters 13, total minted 33 items, resulted in about 20-25$ in Eth accumulated. -
~113K Eco for the Beam activation event in NYC on March 28th proposal by ihar. Snapshot
The amount was taken from the unspent portion of funds from the Be Influential program. The event is in preparation and will be dedicated to the celebration of the successful update on the Ethereum network and L2s - Dencun. -
47K Eco for the Blockchain event in Uyo, Nigeria proposal by Alex and ihar Snapshot
The vote is in the active phase, if Layer 3 approves - the funds will be allocated to sponsor a major conference in Uyo (INNOVATE'24 · Luma) where Beam will have a booth and various activation events will take place.
Total 327K Eco out of 300K. 27K Eco will be covered from Reserve Fund.
200K Eco Reserve Fund allocation
27K Eco to cover Culture&Vibes overspend.
56K Eco on Layer 3 administrative expanses (mainly ethereum transactions costs)
Total: 117K Eco left and will be returned to the Eco protocol treasury.
So the total balance to be returned is approximately 267K Eco. All unspent funds are currently on Layer 3 Safe on Optimism - Safe{Wallet} – Assets . Layer 3 has been in close contact with Dave for the past 2 weeks about returning the remaining funds. Dave has repeatedly suggested that Layer 3 consider using the remaining funds for new ideas and proposals. We will keep you informed as to the next steps and the decision made.
Conclusion
In our EGP ([EGP] Layer 3 Ecollective subDAO funding request) we mentioned several metrics of success, such as:
- number of contributions by Layer 3 members. If we can achieve a 15-20% increase in contributions compared to the previous period.
- the growth in the number of initiatives to attract new individuals, the growth in the number of Beam wallet users, created as a result of these challenges, and the increase in the number of transactions and minted Beam names.
We absolutely achieved an increase in active contribution of Layer 3 members of over 20% over the previous period. The number of initiatives to attract new members to the community has not only increased, but has also become more diverse (events, nft mints, etc.). The number of newly created Beam wallets as a result of these initiatives - more than 100, and Beam Names - more than 10. As a result of these initiatives 7 people decided to join Layer 3 Ecollective as candidates.
Thus, we are confidently moving towards the realization of the set vectors, namely Evangelize, Create, Onboard, Govern, Monetize.