I've gotten a few people asking for my BD playbook, so wanted to share with everyone.
My background:
-
@Everipedia
grew site from 0 to 4M users in 6 months
-
@Walmart
grew a P/L from $10M to $250M
-
@hicommonwealth
grown to 85K users and 900+ DAOs
Here's that biz dev energy 🧵
As someone who has spent a lot of time in both the
@cosmos
and
@Polkadot
ecosystems, the speed of deployment, level of cooperation, and enthusiasm of the Cosmos ecosystem wins hands down.
As someone who has built tools for Cosmos and Polkadot, our engineers hate substrate.
I truly think Compound Chain had the potential to be so huge.
Unfortunately, they picked the wrong stack (Substrate) and ended up spending 1 year banging their heads against the wall :/
I’m excited to share I’ve joined
@gauntlet_xyz
to work on business development w/
@mattdobel
&
@inkymaze
Gauntlet has been building some of the most important DeFi infra for the last 5 yrs.
Much of my personal education on crypto has been from reading
@tarunchitra
and the
#NewNFTProfilePic
This was one of my mint witches. At first I wasn’t as drawn to her since I loved the glasses and circle on one of my others.
After a while though, she cast a spell on me. It’s remarkable how every single NFT in this 10K collection is gorgeous.
@crypto_coven
@ohaiom
@estarLA
I received the Goldman Sachs scholarship at Penn, didn’t once have to talk to an investment banker, and now am actively disrupting their business model!!
These corporate scholarships are an important part of helping people afford Penn (and college)
people often ask the best advice I can give for supercharging your crypto BD career
in short, join
@gauntlet_xyz
dms are open if you want to learn more
growth mode. i've opened up another BD role
@gauntlet_xyz
great opportunity to work with some of the smartest ppl in the space and be at the forefront of all things DeFi
apply here, or feel free to DM me
I was lucky enough to watch and work with 1K+ DAOs during the last cycle
Very few have continued to do good work and fewer have managed to truly decentralize their operations
I have been hugely inspired by the work of
@ensdomains
and
@ENS_DAO
as they build through the bear
the biggest mistake people in crypto make is not understanding the difference between what is new theory and what has been studied for hundreds of years
Gotta give it to
@ProofOfPlay
I’ve been playing
@PirateNation
-didn’t need to fund my wallet
-no wait time for onchain features
-actually fun & addictive game play
It’s definitely a simple game but there’s enough pieces to make it engaging
Interested to see where they go
How to do Crypto GTM pt.2
I had a lot of outreach asking about some of the specific growth strategies I’ve used. In this thread I’ll go over some of the major strategies I’ve experimented with
@Everipedia
@Walmart
@hicommonwealth
I've gotten a few people asking for my BD playbook, so wanted to share with everyone.
My background:
-
@Everipedia
grew site from 0 to 4M users in 6 months
-
@Walmart
grew a P/L from $10M to $250M
-
@hicommonwealth
grown to 85K users and 900+ DAOs
Here's that biz dev energy 🧵
I’m incredibly bullish on the future of
@NEARProtocol
They have driven continuous growth in transactions & onboarded many thoughtful devs
Now
@gauntlet_xyz
will help develop a stake-based governance system to improve the decentralization & efficacy of the Near DAO
The future is NEAR!
We are thrilled to partner with the
@NEARFoundation
to help develop a new governance framework and drive the growth of the
@NEARProtocol
ecosystem.
We are dedicated to NEAR’s mission of building a resilient and transparent blockchain ecosystem shaped and
It's bittersweet to share I am moving on from
@hicommonwealth
It's been an honor to work w/
@dillchen
@zakhap
Jake & the entire team over the last 2 years
I will be taking time to enjoy the holidays w/ my family & think about where I can drive the most impact in my next step
I love seeing
@crypto_coven
prices go up and community grow, but for those out there that missed the boat and can’t afford to join, checkout
@sad_girls_bar
the new
@rabbithole_gg
quests platform has a single quest from Lido paying .2 LDO (~$0.60)
the userflow requires you to mint an NFT as proof of completion (idk why), which costs $45 to mint
crypto economics are a beautiful thing
We’ve spent 6+ months working on this product
Most of the standard crypto playbook was changed here
-L2 only app
-USD pricing
-tokenizing web2 asset
-integrate legacy system
Yet still the same pitch
-permissionless marketplaces
-eliminating middlemen fees
-improved liquidity
@0xjaypeg
parachains have to lock token to maintain parachain slot
keeps a large amount of capital in the ecosystem locked in a useless mechanism
allows them to say TVL numbers are wild high and keep mcap inflated, but transaction/user numbers are abysmal
It’s wild that some people still view DAO treasuries with native tokens as “unissued token” that should not be touched, invested, or sold.
Did people not see how many projects, including Consensys that got rekt when token prices drop?
🧵⬇️
This is one of the most based things I’ve read in a while
@gauntlet_xyz
and
@aerafinance
propose the concept of Protocol Owned Execution (POE), where DAOs can max treasury health by owning the diversification process & paying grants primarily in stables
I’m thinking about creating an ongoing Twitter Spaces called “Crypto’s Got Talent” where people can pitch themselves for a job and/or get advice on breaking into the industry from top founders and operators
Would people be interested in something like this?
CT: ETH is ded, NFTs are ded
@3dns_inc
: hold my beer while we build a more secure and transparent domain register using NFTs on
@Optimism
on
@ethereum
It's already starting. Web2 domains being listed for sale on OpenSea. Buy the NFT and you own the real domain. It's instant. (This isn't my listing. I just saw this one on there.)
Bankless when TIA is at $20: buy, stake, get every airdrop
Bankless when TIA is at $8: Solana isn’t the enemy, TIA is
Wise advice sers; I’ll take your bags now
📕Use Telegram as your CRM
Crypto business lives on Telegram. I have tried every tool to track the Commonwealth CRM and ultimately found Telegram folders to be the best solution. I bucket by VIPs, Lead Types, Active Partners, Tooling, Service Providers, DAO groups, etc.
6/11
Starting back in January of this year,
@aerafinance
and
@karpatkey
both received grants from the Arbitrum Treasury Working group led by
@TheDevanshMehta
After soliciting feedback from the DAO and designing a non-custodial program with a DAO oversight committee,
@gauntlet_xyz
The Snapshot proposal for the
@Arbitrum
Strategic Treasury Management Group (ASTMG) is now live!
This proposal seeks consensus from the DAO to allocate 250M ARB for management by karpatkey. The ASTMG will be tasked with optimizing treasury allocations to ensure the Arbitrum
Dora is one of the best product development orgs in crypto
it's been inspiring to see Bunny and co go from "we deserve more than etherscan" to a fully-fledged human-centered product
the future is
@SearchOnDora
The future is one of search and action onchain.
You can now search and act in one single humane interface
Let
@SearchOnDora
be the last search engine you'll ever need
Search: "mint" or the contract address 0xf2b415133345a78f16a191c49f6752897145f20e on
DAOs should be realistic about a few things
-native tokens can and likely will go down 90% at some point
-defi incentives largely get sold at a single point in time
-DAO contributor payments largely get sold to pay for bills
Protocol-owned Execution allows for DAOs to most
To illustrate the concepts of Protocol-Owned Execution and Volatility Targeting described in the report, we present a mini case study on how
@TheTNetwork
has diversified its treasury with an Aave V2 vault. 🔍 ⬇️
✨Pick a single north star metric
What number needs to go up? TVL, users, content, etc.? From here all strategies get evaluated based on their ability to make this number go up. While there are many metrics that matter, don't get distracted.
2/11
is live
@boxdomains
is the first web TLD fully managed onchain
each of the domains is a website viewable in any browser
they are also NFTs registered with ETH on
@Optimism
via
@3dns_inc
The future is onchain
Following successful negotiations, all of the recoverable funds taken from the Euler protocol on March 13th have now been successfully returned by the exploiter.
@spencernoon
@sonofalli
I’ve found it’s much better to hire for the hard skills and passion to learn web3 than to wait for someone with both (they don’t exist) or to train a web3 person in hard skills.
Saved time hiring can be used to train. Doesn’t apply to all roles but can help get teams built.
🌐Crypto is more than just ETH
Ethereum is crowded and not growing as quickly as before. Many other ecosystems (shoutout
@cosmos
) are seeing rapid growth and are less competitive. Figure out how to support these ecosystems and use a multichain strategy to boost your TAM.
4/11
🕸️Your network is your net-worth
Crypto is a small industry but information asymmetry is rampant. Go to conferences, go to meet-ups, DM that person on TG/Twitter, join groupchats, and make friends in the space. The more genuine relationships you have the better.
5/11
After meeting with the
@nufflelabs
team it was clear they were approaching scalability with a unique perspective. Not just a DA layer, not just a finality layer, but a third more interesting thing.
@mraltantutar
& co. are chads among chads, 'nuff said
@financeguy74
while you can mint an ENS for the domain, selling the ENS version of the domain won't actually transfer the web2 domain
but
@3dns_inc
is changing that! very soon you can bring web2 domains onchain, sell them via NFT marketplaces, and transfer instantly!
Explicit centralization of some components in many protocols is better than decentralization theatre, because it is more legible.
> Reject “decentraliztion theater”. The point of decentralization, other than credible neutrality, is to secure the system. Every point of
🛒Develop customer centricity
Before you build anything, take the time to deeply understand your user, their problems, their specific user story, and what their existing solutions are. Empathy is important to truly take this information and turn it into valuable insights.
3/11
💸Don't spend money
As we head into a bear market, marketing spends should go close to $0 unless you are a massive project with PMF. Make the effort to have a real convo with 10 people a day at a conference or in DMs. This is free & more effective than throwing a party.
9/11
my gf just told me to shut up because she was talking to chatgpt
now more than ever we need to talk about regulation of these models, we don't know the implications they will have on our society /s
DAO tooling is only just getting started.
I am so stoked to be able to work with so many amazing partners and humbled to have such amazing investors believe in our mission!
If you are interested in learning more about Commonwealth my DMs are open!
We’re excited to announce our $20M Series A fundraising! We welcome
@nabeel
from
@sparkcapital
to our Board. This round will let Commonwealth scale into the best and largest crypto community platform.
Here’s more details about our vision for the future: contribute-to-earn.
1/18
For all of those out there struggling to hire for your web3 teams.
Hire for the person, not for the resume. Great people can be coached to have great resumes. Great resumes are not always associated with great people.
Alex is young and hungry. We're lucky to have him!
Our family has been growing like crazy!
@alex_j_young
met
@GeorgePBeall
at a summer program about 6 years back. A few years later he got interested in coding and crypto.
Since joining he helped push our homepage redesign and has been a huge asset to the team!
🛠️Solve people's problems
People don't buy a hammer, they buy a picture on the wall. Know what people's problems are and solve the root issue. This might be as simple as an intro to a lawyer or as much as advising on gov. design.
7/11
Calling all
@arbitrum
delegates, builders, and community members
Make sure to apply for Arbitrum GovHack during ETHDenver to collaborate on the top issues the Arbitrum DAO is facing today
I am excited to announce I am going to
@EthereumDenver
and will be co-hosting and facilitating:
@arbitrum
GovHack
This is not your typical hackathon, no coding required.
GovHack is co-designed with the DAO.
Contributors work on the DAO for the DAO.
Apply here:
My DM's are open for anyone that has questions or wants to chat about what they are building.
Additionally, if you're interested in optimizing your governance infrastructure via let me know!
Really excited for this to finally be live
I've been lucky to work with
@0xpaulio
@0xAquatic
@_wizkika
in building
@3dns_inc
over the last few months
DNS is one of the last entirely centralized pieces of the tech stack, but 3DNS is bring web domains onchain
We are finally bringing web domains onchain!
3DNS🟢🟩 will be the first platform to let you bring .com, .xyz, .co and other web domains onto the blockchain.
Waitlist users will begin getting beta access Aug 8th
Sign up now at !
🔑Communication is key
Call your partners at least 1X a month (I aim for weekly). This is crucial for building solid relationships and will make working together 10X easier.
Even more, keep messaging simple. Crypto should be helpful, not overly technical.
10/11
Guys it’s M&A season!
Saw a founder shut down their company (pre VC funding) and then claim the company that hired their dev acquired them
You better believe the founder added (acq.) to their bio
The year is 2121, the world's most powerful organization, Teamsters DAO, is about to hold its annual general review via Twitter Spaces. Over 50 million laborers worldwide belong to Teamsters DAO.
Just dawned on me that the tradfi industry has a 23% uptime SLA (9am-5pm 5 days a week) and the whole world just kind of agreed that’s okay.
We can do better. Crypto is better.
Submitted my delegate profile for
@UniswapFND
If you have any UNI I would appreciate your delegation!
In the next year I want to see Uniswap build:
-public goods (such as Agora, Uniswap wallet)
-robust cross-chain presence (deploy on more chains, develop cross-chain governance)
I used to be a major crypto ghost writer in the 2016-2018 market
I wrote about 1 million words in 2 years and got really good at churning out 1K word articles at 75-80% quality in 1-2 hours
I can now generate the same amount AND quality of content in about 20-40 hrs using GPT
Gauntlet has built the most rigorous risk management systems for DeFi protocols utilizing agent-based simulations. We use these models to manage ~$10B of market risk for top protocols like Aave, Compound, Perennial, and others.
As for what's next for me... you'll see an announcement in the new year!
In the meantime if you want some feedback on your idea, growth strategy, fundraising pitch, etc. my DM's are open!