Merchants of NEAR October Funding Report

As I said earlier this will change as of the next Merchants Funding Update for all the reasons and efforts listed above. So this graph will show differently.

I love going through your comments on the forum, is clear you want everything to be transparent and fair. But with the merchants current request I think the works they offer deserves a $20k. @zuchinni did a great job sir

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You need democratic DAO where all members of your guild can vote and create proposals. Not only 3 councils.

As we see now the guild budget focused on leadership expenses only.

By the way, could you please pin the post on Merchants TG group? I think it will be interesting for all members. Thanks

As I said earlier in a comment we will be looking to make a DAO. The other members we will recruit will also be part of the DAO (10 ambassadors) so that’s already more then 14 people voting and agreeing on decisions. Making a DAO takes time and we need to figure out the legal implications with the Legal Guild as well. We are working on that and that will be done soon. Goal is by the end of the year.

What post do you mean ?

Done, just pin it. I think will be interesting for your guild members read it.

The other members we will recruit will also be part of the DAO (10 ambassadors) so that’s already more then 14 people voting and agreeing on decisions.

Just make sure it will be transparent process .
Looking forward to get more information about it.

Thanks

Hey hey!

Firstly, let me say that I love all the things you guys do :muscle: Definitely some TA talent in there :100:

However, I find it quite difficult to justify almost $20,000 to the management of a relatively small community (for now!)

500N is very high for Telegram management, even when considering the other content which is created. I think the average for a large Community tends to be ~ $800-$1k per month.

Can you please share where these blogs have been posted? Thanks :raised_hands:

Additionally, can we please stick to USD denominated funding when making proposals to the CommunitySquad DAO? Thank you! :tada:

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Ah nvm, I can see the blog posts haven’t been released yet. Looking forward to reading them :ballot_box_with_check:

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Hello David

Thank you for you response, kind words and view on our Funding report.

Is it possible to discuss with you on the Community Fund process over a call? We would all be glad to discuss this with you.

Can you send your calendly so we can look for a moment?

Thanks in advance and talk to you soon!

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Hi @Dacha, @David_NEAR

Thanks for your suggestions and recommendations. Honestly I am still learning a lot so all the suggestions are very much heard. I was hoping to allow everyone a chance to respond to their directed questions before chiming in.

@dacha, I have already agreed on a fixed 350N. I would rather not track my hours and spend time debating the $/hr metrics. I think that is fair and am comfortable with that. As for the balance still in the Merchants account I have yet to move that to my own wallet, zucchini_fries.near. I will move out the funds out today to not confuse this and keep a small reserve for payouts for contest and submissions as I see fit.

@David_NEAR, I think there should be a medium between what was originally agreed upon with first starting the warp-speed guilds and what NEAR core team current proposal. What is a fair $/hr value you are proposing we use for Dollar denominated funding? The average analyst salary is roughly $34/hr as mentioned above. Standard salaried jobs have plenty of benefits such as 401(k), PTO, HSA, ect… that are not provided with crypto. Let us first establish a rate and then I can set clear benchmarks for everyone to uphold moving forward.

Thanks again guys for the feedback.

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How can i apply to be moderator on telegram?
I am in the group and found this article pinned in the chat.
Will love to learn as well as contribute to the community as much as possible.
Thnaks to Zucchini Fries and a special thanks to @Dacha for helping me find and explore new ways to explore in the Near Ecosystem via his message which is a pin now in tg.

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Thanks for your interest but right now I do not think we need another moderator, might be different in the future. I would first just start being active and learning more about NEAR ecosystem as your account is relatively new. The more active and longer term Merchants members would have priority if this were an open position.

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Hey!

Absolutely, pinging the @Community-Squad and particularly @grace to jump in on the call, too.

Goood morning! :sun_with_face:

This isn’t something I agree with, personally. The Warp Speed funding was temporary. That’s not to say we’re not happy to fund you, we (IMO) absolutely are! But, the funding needs to be reviewed.

For sure, but (correct me if I’m wrong of course), trading analysts conduct transactions rather than just perform TA? I’d consider TA, unless formally employed for a company executing trades, more of a personal interest, a la TradingView:

Rather than an hourly rate, I think a monthly funding schedule will be more appropriate. This (the Community Fund) is not being ran like a business, and nor should it be. I propose a reduction from 500N to ~ $1800/mo.

Do note that this is not my decision to make. Would love to hear everyone else’s opinions and happy to discuss further in the call :tada:

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Thanks a lot. I will be looking forward to see what all i can do within Near Ecosystem.

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Thanks. I propose fixed 150N for two analysts. Fair pay for this job. I think a lot of guys in the guild are ready to do this work for N150. Thanks again.

There has been a lack of communication between guilds and Core which is likely the root of the issues here. The funding numbers were derived basically from last months figures and augmented for Yuppies and MansaKeita additional content. After discussions, there clearly needs to be a reduction to match other guilds and community expectations.

There is a distinct difference between ‘analyst’ and and execution trader. Traders are the ones who will make the final execution of the trade but often also do their own analysis. Analysts are generally for researching potential opportunities and is not limited to the trading world. Most of the TA you see are from individuals who post on twitter but it is used in trading firms as well.

Excellent, thank you for being responsive and transparent. We have scheduled a call with you tomorrow via your calendar. Looking forward to it.

Agree with you. Absolutely fair salary .

For sure, and it’s something we’re aware of. We have a number of initiatives ready to roll out to acquire feedback from Guilds and identify where we can improve.

I would say that in traditional fields of employment, Analysts serve to make money for the company they work for. The Community Squad is more than happy to encourage the work of the Merchant’s Guild because there’s clearly value added to the NEAR Ecosystem.

Ultimately, the Merchant’s Guild community is still small, perhaps it would make sense to tone down the frequency of charting until it grows? I cannot personally justify an $18,000 funding request for what is proposed here.

This is something I’d like to have @grace involved in, who isn’t available at this evening. Can we work with Grace to get a time which we can all attend?

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There is a bit of irony in that request as we are attempting to produce more content in order to maintain growth.

Absolutely, I think both @Yuppiefab and @Mansa.Keita agree there needs to be concessions. I am trying to allow for open discourse between everyone.

Our schedules are rather flexible so anytime which you and Grace are both free, we will make work as I understand Grace has an insanely busy schedule.

Awesome! Let’s arrange a time when we can all make it and cancel today’s call.

cc @grace - when works for you?