**
We are submitting this top-up request to maintain the originally approved budget for our Polkadot Awareness Campaign on Brave passed as Treasury Proposal #746. Due to significant market fluctuations and the current spending pace, we seek additional funding to ensure the successful completion of our campaign as initially planned. We have shared latest reports on campaign progress here.
Based on the current spend of $171,176 over approximately 29 days (July 16 to August 14), the daily spend rate is about $5,902.62 per day. At this rate, the remaining budget of $101,126.95 would be exhausted in approximately 17.1 days, or around August 31, 2024. This projection indicates that without additional funding, the campaign would fall short by about 45 days, or approximately 50% of the intended campaign duration.
To maintain the originally approved budget of $575,000 and complete the full campaign as planned, we are requesting an additional top-up.
Remaining campaign cost: $575,000 - $171,176 = $403,824 Additional DOT needed: $403,824 / $4.623 = 87,351 DOT
We are therefore requesting a top-up of 87,351 DOT to ensure the full execution of our campaign.
Market Volatility: The significant drop in DOT price (from $9.762 to $4.70) has substantially reduced the campaign's purchasing power.
Maintaining Campaign Integrity: The additional funding is crucial to deliver the full scope and impact of the originally approved campaign.
Honoring Commitments: This top-up will allow us to fulfill our commitments to Brave and execute the campaign as initially planned through October 15, 2024.
Current Performance: Our campaign has already generated over 63 million impressions and 495,439 clicks, demonstrating strong engagement and effectiveness. You can view reports for our units here:
Here are the NTTs we created.
Our three-month advertising campaign on Brave's platform aims to:
Our current list of ecosystem projects includes a diverse mix which are currently live:
New Tab Takeovers the first month were focused on Polkadot.
We kindly request the Polkadot community's support for this top-up to ensure the successful completion of our comprehensive advertising campaign. This additional funding will allow us to maintain the campaign's intended scale and effectiveness through its planned end date, ultimately benefiting the entire Polkadot ecosystem.
A note regarding the previous comment regarding not requesting top-ups.*
At the time the note regarding top-ups, it was to signal a sign of confidence Brave has in Polkadot and our dedication to the community on finding market fit. The price of DOT had gone from (EMA7): $9.762 at the time of the proposal to around $6. At $6, we could still deliver to the proposal with leaner delivery. In the time since that comment was made, the DOT price has gone from $6 to around $4.70, a 50% decrease in value from the value we based the original proposal.
While this 50% decrease in proposal value does impact our near-term revenue, the greater concern is that we forecasted the original budget to deliver enough visibility for the campaigns to reach as much of the addressable Brave audience as possible, with a frequency that ensures they get to see a healthy spectrum of the dApps, services and brand visibility for the Polkadot network as the original proposal intended.
Given the impact on the demand from the DOT value decrease, we have two options. 1) we top up to ensure best chance of success against the objectives from the proposal or 2) we decrease the pacing of the campaigns we currently have deployed, lowering the daily spend levels and exposure by 50% to continue to deliver the remaining budget for the full duration of the campaign. We don't want to go back on our comment, as our conviction regarding the community, network and proposal remains unchanged. However, we have not invested the energy and effort to get the campaigns to where they are now to want to lose, when we can state that the obvious impact was more significant than anticipated at the time, and that we would like the option to execute fully as the original proposal intended.
We request the top-up as we strongly believe that given the recent impact beyond the initial decrease in value, we are most likely to have the greatest chance of success and opportunity for establishing early fit by giving the campaigns the room to run that we had originally forecasted when DOT was around $9 at the time of the submission for the proposal.
Thank you for your consideration and continued support.
Polkadot has requested a top-up for their advertising campaign on the Brave browser due to significant market fluctuations and spending pace. The original proposal was approved on March 20, 2024, with a budget of 58,902 DOT ($575,000 USD). However, the current DOT price has dropped to $4.623, reducing the campaign's purchasing power. The campaign started on July 16, 2024, and is set to end on October 15, 2024. The current spend is $171,176, and the remaining budget at the current DOT value is $101,126.95. Without additional funding, the campaign would fall short by about 45 days, or approximately 50% of the intended campaign duration. Polkadot is requesting an additional 87,351 DOT to maintain the originally approved budget and complete the full campaign as planned. The campaign has already generated over 63 million impressions and 495,439 clicks, demonstrating strong engagement and effectiveness.
**
We are submitting this top-up request to maintain the originally approved budget for our Polkadot Awareness Campaign on Brave passed as Treasury Proposal #746. Due to significant market fluctuations and the current spending pace, we seek additional funding to ensure the successful completion of our campaign as initially planned. We have shared latest reports on campaign progress here.
Based on the current spend of $171,176 over approximately 29 days (July 16 to August 14), the daily spend rate is about $5,902.62 per day. At this rate, the remaining budget of $101,126.95 would be exhausted in approximately 17.1 days, or around August 31, 2024. This projection indicates that without additional funding, the campaign would fall short by about 45 days, or approximately 50% of the intended campaign duration.
To maintain the originally approved budget of $575,000 and complete the full campaign as planned, we are requesting an additional top-up.
Remaining campaign cost: $575,000 - $171,176 = $403,824 Additional DOT needed: $403,824 / $4.623 = 87,351 DOT
We are therefore requesting a top-up of 87,351 DOT to ensure the full execution of our campaign.
Market Volatility: The significant drop in DOT price (from $9.762 to $4.70) has substantially reduced the campaign's purchasing power.
Maintaining Campaign Integrity: The additional funding is crucial to deliver the full scope and impact of the originally approved campaign.
Honoring Commitments: This top-up will allow us to fulfill our commitments to Brave and execute the campaign as initially planned through October 15, 2024.
Current Performance: Our campaign has already generated over 63 million impressions and 495,439 clicks, demonstrating strong engagement and effectiveness. You can view reports for our units here:
Here are the NTTs we created.
Our three-month advertising campaign on Brave's platform aims to:
Our current list of ecosystem projects includes a diverse mix which are currently live:
New Tab Takeovers the first month were focused on Polkadot.
We kindly request the Polkadot community's support for this top-up to ensure the successful completion of our comprehensive advertising campaign. This additional funding will allow us to maintain the campaign's intended scale and effectiveness through its planned end date, ultimately benefiting the entire Polkadot ecosystem.
A note regarding the previous comment regarding not requesting top-ups.*
At the time the note regarding top-ups, it was to signal a sign of confidence Brave has in Polkadot and our dedication to the community on finding market fit. The price of DOT had gone from (EMA7): $9.762 at the time of the proposal to around $6. At $6, we could still deliver to the proposal with leaner delivery. In the time since that comment was made, the DOT price has gone from $6 to around $4.70, a 50% decrease in value from the value we based the original proposal.
While this 50% decrease in proposal value does impact our near-term revenue, the greater concern is that we forecasted the original budget to deliver enough visibility for the campaigns to reach as much of the addressable Brave audience as possible, with a frequency that ensures they get to see a healthy spectrum of the dApps, services and brand visibility for the Polkadot network as the original proposal intended.
Given the impact on the demand from the DOT value decrease, we have two options. 1) we top up to ensure best chance of success against the objectives from the proposal or 2) we decrease the pacing of the campaigns we currently have deployed, lowering the daily spend levels and exposure by 50% to continue to deliver the remaining budget for the full duration of the campaign. We don't want to go back on our comment, as our conviction regarding the community, network and proposal remains unchanged. However, we have not invested the energy and effort to get the campaigns to where they are now to want to lose, when we can state that the obvious impact was more significant than anticipated at the time, and that we would like the option to execute fully as the original proposal intended.
We request the top-up as we strongly believe that given the recent impact beyond the initial decrease in value, we are most likely to have the greatest chance of success and opportunity for establishing early fit by giving the campaigns the room to run that we had originally forecasted when DOT was around $9 at the time of the submission for the proposal.
Thank you for your consideration and continued support.
Threshold
Threshold