# \[Rejected\] Formation of Defi DAO in NDC V1 **URL:** \ **Category:** NDC \[Archived\]\ **Tags:** community, daos, proposals\ **Created:** [February 6, 2024, 9:19pm UTC](https://gov.near.org/t/rejected-formation-of-defi-dao-in-ndc-v1/37935 "2024-02-06T21:19:33Z")\ **Posts on this page:** 1\ **Page:** 1
**Author:** ![Yuen](https://dub1.discourse-cdn.com/flex005/user_avatar/gov.near.org/yuen/32/49937_2.png) [@Yuen](https://gov.near.org/u/Yuen)\ **Post date:** [February 6, 2024, 9:19pm UTC](https://gov.near.org/t/rejected-formation-of-defi-dao-in-ndc-v1/37935/1 "2024-02-06T21:19:33Z")
> Section 1 Introduction Organization Name: DEFI Dao Date of creation: Feb 1st 2024 DAO’s Category: Defi # Description 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](https://twitter.com/NDCDefiDao) Telegram: [Defi telegram](https://t.me/+m7UIuI1S4UwzNjkx) Astra++: [https://near.org/astraplusplus.ndctools.near/widget/home?page=dao&daoId=ndcdefidao.sputnik-dao.near](https://near.org/astraplusplus.ndctools.near/widget/home?page=dao&daoId=ndcdefidao.sputnik-dao.near) > Section 4. Applicant Information Point Of Contact : Yuen > **[Yuen (yuensid.near) | Near Social](https://near.social/mob.near/widget/ProfilePage?accountId=yuensid.near)** > > Im Yuen, that is all. 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 Councils Yuen - Defi Council member, BD| [Near Social](https://near.social/mob.near/widget/ProfilePage?accountId=yuensid.near) Bailey - Defi Council member, Researcher| [Near Social](https://near.social/mob.near/widget/ProfilePage?accountId=bailey12.near) Cudam - Defi Council member, Marketing| [Near Social](https://near.social/mob.near/widget/ProfilePage?accountId=cudam321.near) > 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: [https://docs.google.com/document/d/1dF8qSGAR8tz61l-mrbCjWY420UFQbQ9d\_ePcXN3CnZY/edit?usp=sharing](https://docs.google.com/document/d/1dF8qSGAR8tz61l-mrbCjWY420UFQbQ9d_ePcXN3CnZY/edit?usp=sharing) - Roadmap [https://docs.google.com/presentation/d/110Go6nwa08QCPgKvoZdyKSFWvBgOWVrJVfeF2yDzpUo/edit?usp=sharing](https://docs.google.com/presentation/d/110Go6nwa08QCPgKvoZdyKSFWvBgOWVrJVfeF2yDzpUo/edit?usp=sharing) - 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 [https://docs.google.com/spreadsheets/d/1k9CaPkKyoQKUdvNy\_vZKI6G9UYf70MwSr3NkaE2sBxw/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1k9CaPkKyoQKUdvNy_vZKI6G9UYf70MwSr3NkaE2sBxw/edit?usp=sharing) 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) > [@\[Approved\] Gaming DAO NDC V1 : NDC Budget Subcategory code HOM-004P-1-2 Gaming](http://gov.near.org/t/approved-gaming-dao-ndc-v1-ndc-budget-subcategory-code-hom-004p-1-2-gaming/36842): > > Hello NEAR community and NDC congress members! I present to you information about Gaming DAO — an organization deeply rooted in the NEAR blockchain and designed to take a leading role in the development of the gaming industry. DAO/Project Information Organization Name: Gaming DAO Date of creation: March 31 2023 DAO’s Category: Gaming Previous Funding The primary source of funding for Gaming DAO, specifically for compensating the work of designers, has been the Human Guild. Their contributi… > [@\[Rejected\] NFT WG: NDC V1 Grass Root DAO Application : NDC Budget Subcategory code HOM-004P-1-4 NFT](http://gov.near.org/t/rejected-nft-wg-ndc-v1-grass-root-dao-application-ndc-budget-subcategory-code-hom-004p-1-4-nft/36833): > > [image] NFT WG: V1 Funding Request (3 Months) Section 1. Introduction The NFT Work Group is a community-driven initiative that aims to provide solutions and standards for the challenges and limitations associated with NFTs on NEAR. Our primary objective is to revitalize and expand the Near NFT ecosystem. Elected by the community, the Work Group strives for long-term sustainability, aligning with Near Protocol’s core goals through NFTs as a catalyst for mass adoption. We have been actively wor… 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.