NSFW project update

# NSFW project update Hello to the NSFW community both existing and new members! When the founders departed, the signers took on the task of transitioning the project to a DAO structure. We had a runway of approximately three months and needed to find a way for the project to survive. We are now at month four, having delivered the foundation of a DAO, and the project still has opportunites ahead. Our path has not been easy but our achievements can be seen here: https://www.notion.so/nsfwapp/Achievements-3104c96dafd04fef828a35383cf2a24a ## Team updates ### Delegates The delegate strategy that was implmented in [NIP-8](https://snapshot.org/#/nsfwgov.eth/proposal/0x11375933b7132cb3e1bc929ba8d351f380f98be5428d78561285d52b76981cf4) puts in place the foundation for the following community representivies to have their voices heard. The current delegates are: * Amelia Sage - NSFW.app creator * Stuart Forbes - Overseeing development * Ken Bearder - Community legal * Oliver - Moderation team helper * Raithius - Token holder ### Mark Hassell With much sadness we report that Mark Hassell will be leaving the project for new adventures at the end of Oct 22 from his paid position as our Chief Marketing Officer (CMO), Talent Manager & from adult Business Development responsibilities. Mark joined the project in Nov 21 and has been responsible for adding much project success bringing in over 500 creators including many well known accomplished stars of the adult industry. He is also responsible for delivering the first stage of his adult marketing plan and helping to steer us through the DAO transition. For all this, we thank him for everything he has done and for all the advice he has given us since the beginning. 2 different roadmap strategies will respectively outline possible paths forward. More details will be provided after migration completion. Keep in mind that we can and will also notify our 500 creators everytime the app gets new features. Some of our creators notified us that they are waiting new features before they post again in the app. ### Devs The CTO and devs originally committed to a three month plan, they have been committed to the DAO as evident by what has been delivered to date. Moving forward they will be taking some time to consider how they want to be working, in regards to how they interact with the DAO and the general working environment, which is highlighted by the "DAO operations". They will be proposing their suggestions regarding how this may look like after the October delivery. ### DAO operations 🔳 Project management 🔳 Funding 🔳 Roles & Responsibilities 🔳 Transparent performance communication & accountability 🔳 Remote work expectations 🔳 Working etiquette, Meeting etiquette 🔳 Operations 🔳 Software IP transfer > Original IP transfer agreement conditions were not met but CTO has extended agreement. IP will be transferred once the DAO has a legal entity in place and if still operational (ie. Not dormant/dead project) 12 months from November 2022. 🔳 NSFW trademark > Will be transferred once the DAO has a legal enity in place ## Road to complete the DAO transition Our immediate goal now is to complete the token migration, secure as much funds as we can, and then hand the projects decision making to be DAO controlled. Going forwards all important project strategy and funding will require DAO approvals. Given users do not have their tokens to vote, we need to make some temporary compromises until claims are enabled. There will be two Discord votes regarding: - [ ] (Discord Vote) `NSFW` symbol - [ ] (Discord Vote) `October funding` This will secure; - MISO Liquidity raise - Token deployment - Development of the Claims portal - Deployment of NSFW/MATIC LP We expect this to be completed in the first week of November. ## What happens next? - DAO will need to approve a roadmap strategy - DAO will need to approve the roadmap budget - DAO will need to formalise items requested under `DAO Operations` - We will auction the remaining 1.5% towards the end of the DAO approved roadmap We will be proposing candidate strategies from November onwards.      These will be put to a formal snapshot vote. ## Project transparency ### Product metrics We will be measuring success on the following OKRs and reporting on a monthly basis. - Creators active in the community - New creators onboarded PCM - Active Customers PCM - Daily Platform Revenue ## Next It is worth highlighting that the strategy to extend the runway has been successful for the short term from MigrationSafe transfers. The open sourcing of NSFW.app has started with the marketing website & design system. Full open sourcing of NSFW.app will not be considered to protect competitive advantage. Instead DAO IP transfer will be actioned in 12 months from Oct subject to conditions being met. ## Strategy Our learnings over the last few months indicate, that regardless of any short term strategy we employ, in order for the project to be self sufficient we require a minimum of 18 months runway. We have identified the following candidate projects that we believe will drive the long term success of the project. This has been in discussion by the delegates and signers. * Core UX improvent/s * Onboard crypto native creators & fans * NSFW — Profile Pics (NFTs) to be intergrated in-app * Direct messaging * Establish legal entity * Fiat on/off-ramps * Fiat payments * Post tagging and categories * Creator search and Discovery * Creator referrals * Creator rewards * SEO improvements * Platform fees * Protocol Revenue Distribution * Staking * Locking * Improve creator post management * App scaling * Product backlog Two separate strategies will be presented which will define the order of delivery for these items. ## Financials From Oct 22 onwards all project spend will come from DAO funds requiring formal DAO approval. ### Available/expected funds DAO funding sources: * $260,000 - MigrationSafe * $? - 1.5% NSFW token LIQUIDITY_POOL allocation The minimum funds available to execute strategy will be known after the MISO sale (end Oct). ### Treasury The 10% Treasury allocation ideally will be touched to fund work, any expenditure will require DAO approval. ### NSFW.app revenue NSFW.app revenue is insufficient at this stage to be considered for funding at this stage ### Fixed expenses Expected monthly costs over the next 6 months: * $5,000 to $10,000 PCM - Lights on * $100,000+ - Seed NSFW token LP ### Known quoted expenses * $40,000 - 1x CEX listing * $30,000 - Cayman DAO legal entity & bank account * $5,500 - Legal costs eg T&Cs ## Identified risks - Lack of funds to continue operations beyond six months - Securing development team - Ongoing Creator management - Access to Marks creator/industry network - Legal/Regulatory risk - Compliance risk ## Summary Despite the challenges we faced in June, we now find ourselves with the opportunity to continue to develop the NSFW brand. We hope the transparacy we have demonstated and pioneered continues to enable holders to make more informed decisions and participate in our growing community. If there is anything you feel we may have missed please let us know in the Discord forums.

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