[Rejected] Formation of Defi DAO in NDC V1

Section 1 Introduction

Organization Name: DEFI Dao
Date of creation: Feb 1st 2024
DAO’s Category: Defi


Defi DAO aims to provide resources and funding to projects that are trying to build and develop in the NEAR ecosystem. Currently there is a large hole in the NDC funding space, where projects and founders do not know where to go to ask for funding to either kickstart their project or further develop them. This is where the Defi DAO comes in to provide all resources needed from technical, legal, marketing and business. The DAO will not only encompass the crypto/ token scene we will also provide funding assistance to the inscription projects as they are slowly growing and developing in the NEAR scene.

Section 2. Previous Funding

The DAO has not gotten any prior funding.

Section 3. DAO URLs

Twitter: https://twitter.com/NDCDefiDao

Telegram: Defi telegram

Astra++: https://near.org/astraplusplus.ndctools.near/widget/home?page=dao&daoId=ndcdefidao.sputnik-dao.near

Section 4. Applicant Information

Point Of Contact : Yuen

NEAR Wallet ID: yuensid.near

Wallet ID that will be receiving funds: ndcdefidao.sputnik-dao.near

Country of Residence: Malaysia

Twitter: @yuensid

Telegram: @yuensid

Section 5. Team Members


Yuen - Defi Council member, BD| Near Social

Bailey - Defi Council member, Researcher| Near Social

Cudam - Defi Council member, Marketing| Near Social

Section 6. Experience

  1. Yuen
  • Have experience with managing more than 5 NFT projects from Mod, Community Manager and Team member
  • Past GwG contributor
  • Been working with the different meme tokens providing advise and working with it teams members
  • Creating research reports and threads on the token scene
  1. Bailey
  • ex NF (mods team- Community team)
  • Validator since mainnet.
  1. Cudam
  • content & product @NEARWEEK
  • Ref finance dao
  • ex Trisolaris mkt lead
  • ex decentral bank community lead

Section 7. DAO/Project Charter/White or Litepaper and Goals

  • DAO/Project Charter:
  • Roadmap
  • Goals
  1. User Onboarding Events/Campaigns: Activities focused on attracting and educating users about DeFi on NEAR to increase adoption.
  2. DeFi Integration Count: Number of projects integrating their features onto the NEAR protocol’s BOS.
  3. Grant Success Rate: Percentage of projects sustaining themselves after receiving grants from the dao or other sources within NEAR.
  4. Liquidity Support Mechanisms: Initiatives to boost token liquidity through IDO, Proximity, DeFi DAO grants, or NF support.
  5. Educational Content Creation: Developing resources to assist newcomers in understanding and using DeFi platforms on NEAR.
  6. Onboarded Projects List: Compilation of DeFi projects from outside NEAR ecosystem, either through cross-chain integration or native development.
  7. Gamified Engagement Events: Regularly scheduled events or campaigns with NEAR-based projects to maintain community engagement.

Section 8. Budget

Breakdown on Budget:

  • Defi grant funding: 3k - 5k funding per project
  • Marketing & Educational Content: Thread, medium articles, Learner N Club, Zealy, Arkana, Graphics & banners
  • Tooling: Notion, Airtable, Canva, Read AI, Miro
  • Remuneration: Payment for the council members for their work

Similar Proposals from Near Foundation, existing GDAOs, Near ECO (if applicable)

We will be working on the DEFI vertical and try to decentralized the DAO in the process so in the end the DAO can be full automated by the community for the community. We will all be working on a part- time basis.

The team will be fully remunerated from this budget.

Section 9. Project/DAO longevity

  • Will your DAO need continuous funding or a one time funding?

We will need continuous funding as we will be the DEFI vertical for the NDC to provide DEFI projects funding and resources when they build on NEAR.

  • Will your DAO/Project device way of sustaining itself after this round of funding?

There will not be a way to sustain ourselves since we are planning to allocate majority of our funding to build the DEFI scene unless we plan to do IDO or investments on the projects to get a percentage of the project.

  • What are the possible roadblocks to the success of your project/DAO?

The possible roadblocks are that the DAO doesn’t get approved in the v1 Congress so we cannot provide funding to the NEAR ecosystem.