The TCD Brief: Issue 1
With the recent announcement of moving The Crypto Drip to a community governed DAO (decentralized autonomous organization), we are excited to announce a new form of content: The TCD Brief.
With this new series, we will be posting a consistent update on the formation of our new DAO, roadmaps, and all-things-community. This will allow us to more succinctly keep our community up to date on all the internal workings of The Crypto Drip in a digestible format that is also easy to reference.
To start, each brief will consist of updates from 4 different areas (this is subject to change with time), and we'll post these every two weeks on Fridays:
- DAO Updates
- Core Team Updates
- Creator Updates
- Community Updates
As it stands currently, The Crypto Drip is an LLC licensed in Boise, Idaho of the U.S. This is necessary as we get our bearings on how to properly shift TCD from a centralized-model business to a DAO-model business, especially since we currently generate revenue.
It's important to note that, while TCD is going to become community governed, it will still be a business with tangible revenue and expenses.
In light of this, we are looking into updating our legal structure to a DAO LLC, registered in the state of Wyoming. The initial cost of this is a decent amount, and requires that we also hire both a CPA and Lawyer (with knowledge in the crypto space) to help facilitate this transition and offer guidance.
The Crypto Drip currently makes money entirely through a membership model. Community members gain access to premium content by paying either a $10/month or $100/year fee.
As it stands, the financial picture of TCD is as follows:
- MMR: $628.27
- Churn Rate: 12%
- Treasury Balance: $1,912.96
Currently, all of our revenue goes back into current and future expenses. We are still solidifying our expenses, so this information should be included in the next brief — however, we've been profitable since about the second week of turning on subscriptions.
Churn rate is pretty high, but this is likely due to the shifting landscape of TCD as we solidify our roadmap and content production schedule.
Core Team Updates
The Core Team of TCD is a new division, tasked with the health and maintenance of the DAO and upcoming content platform.
Until recently, Calvin and Goose operated on a loose but collaborative relationship, with little-to-no guardrails for our roles. This is changing and most recently their roles have changed to:
- Calvin Koepke: CEO/CTO
- Goose: COO/CFO
We are actively talking to and recruiting new individuals who resonate with the mission of TCD, and want to be a part of building a new type of crypto content network.
As our team grows, roles will become more niche and defined to facilitate our growth as smoothly and professionally as possible.
In order to grow and nurture our community, we are committed to building a content platform that facilitates both content management and content delivery according to modern web practices and flexibility.
As the only developer, Calvin is currently working on the scaffolding and initial infrastructure of our new platform stack, including researching and implementing prototypes for:
- Crypto payments
- Wallet interfaces
- User accounts and authentication
- Software stacks for both backend and frontend applications
- Coding standards and tooling
There's a lot to outline, but we should have a more solid update on the platform technical specs in the coming months.
The only two Creators right now are both Calvin and Goose, and this will change as soon as we figure out a revenue model that incentivizes Creators to host their content with TCD.
Regardless, we've succeeded and cleaning up the content production roles and there are now two new channels on TCD:
- Goose's Gambit (Goose)
- Into the Metaverse (Calvin)
- TCD Brief (Core Team Members)
Goose's channel will focus on the crypto economics sector, including how it relates to new projects from a technical perspective.
Calvin's channel will focus on the Metaverse, and document it both with video streaming and writing.
The TCD Brief will be a communication channel for the Core Team to relay internal decisions and updates for the community in a consistent and reliable manner, starting with this first Brief. At the moment of this writing, it will be handled by Calvin and Goose until the Core Team grows.
Our community has always been the cornerstone of TCD, and is the main reason we decided to convert it to a DAO. We want community members to have a voice in the evolution of what we create here, and we plan to reward them for doing so.
While the DAO integration part of our community has yet to be solidified, we are planning on both an NFT sale for possible fundraising as well as a native token distribution once smart contracts on Cardano go live.
This work will be extensive, including many hurdles to cross to get from where we are now to where we want to be in the future — but we believe we can do it together, and we will.
The main avenue for making your voice heard is to join our Discord channel. There are currently more than 235 members, including nearly 70 premium members.
Community updates will hit our Discord server sooner, including potential future airdrops. Please let us know if you have any issues joining. We plan to automate role labeling in the future with Version 1 of the TCD Platform, but for now you'll need to reach out to a mod or Core Team member to get help.
We're super excited for what's coming in the future and couldn't be more excited about having you along for the ride. If you want to get involved, join our Discord and reach out to any Core Team member to start a conversation.