Treasury Spend #59

#59·Polkadot Community Foundation <> Ledger - Giveaway to Increase 𝕏 Followers

Treasury

29d ago

17 Comments

Paid

Content
AI Summary

Summary:

Polkadot Community Foundation and Ledger will partner to run a Ledger Flex giveaway (50pcs) on social media. Participants must follow Polkadot’s and Ledger’s 𝕏 account and repost the giveaway.

The participation mechanics are designed to create a snowball effect and drive even more followers/entries. By giving away 50 Flex units (retail value of €245), we anticipate a lot of excitement/participation on Crypto Twitter and thousands of new followers to the Polkadot and Ledger accounts. Two Flex units will be used for creating content/images to be used in the giveaway.

Watch my explanation of the proposal here, where I also address many of the questions in the comments:

Polkadot Community Foundation <> Ledger - Giveaway to Increase 𝕏 Followers
→ https://t.co/PMZvkah4nx @ET90266 ↯ pic.twitter.com/SgNCrpsVFJ
— The Kus (@TheKusamarian) September 27, 2024

Objectives

Drive tens of thousands crypto-enthusiasts to follow the @Polkadot and @Ledger 𝕏 Accounts.
Raise awareness and create excitement around Polkadot and the new Ledger Flex device.
Give back to the community.

Request

11,506 USDT for 52 Ledgers + up to 9,000 USDT for legal fees (contract review, terms & service review, KYB, fiat payment services etc.)
Note: 9,000 USDT for legal fees includes a buffer. Invoices from the law firm will be provided to the Polkadot DAO, and all unspent USDT will be returned to the Treasury.
We are receiving the 52 units at a ~20% discount, €199 each.

Recipient: Polkadot Community Foundation Pure Proxy

Giveaway Overview

The giveaway will be a collaborative effort between Polkadot and Ledger. Both Twitter accounts will post an image of the Ledger Flex device, with supporting text, that instructs followers to:

Like the post
Quote Repost either Polkadot’s or Ledger’s post
Follow both @Polkadot & @Ledger
Leave a comment on the post

Giveaway Timeline

Announcement Date: within three weeks of funds being distributed
Promotion Period: 2 Weeks from the time of announcement date
Winners Contacted: no more than 7 days after the end of Promotion Period

Criteria and Selection of Winners

50 winners will be randomly selected using https://app.thexpicker.com/ or similar website.
Winners must fulfill all requirements (liking post, QRT, commenting and following @Polkadot & @Ledger
No purchase is necessary to participate in the giveaway. Winning accounts will be contacted to verify they are not bot accounts. Bot accounts will be disqualified.
50 vouchers will be distributed to 50 unique winners.
Winners will then use the voucher code to order their Ledger Flex from the Ledger website. The voucher also covers shipping costs.
A Terms & Conditions document will cover all entry rules, and will be publicly shared by the Polkadot account prior to the giveaway.
Note: Ledger does no ship all counties, the full list will be shared in the terms & conditions.

Funds

The funds will be distributed to the Polkadot Cayman Foundation, and then converted to fiat for payment to Ledger.
After Ledger has received the payment, Ledger will share the 50 voucher codes with the Polkadot Social Media Editorial Board, and the giveaway will commence with the Announcement Date.

Request

20,506USDt

Beneficiary

167t...AVUy

This spend has been paid. Check the beneficiary↗

Metadata
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Comments

14pa...oata

This proposal is a bit confusing, and the number of beneficiaries seems rather small.
Is there a way to increase participation and attract users from other Ledger ecosystems to get involved?

12s6...nE8h

Hello from Polkadotters!
Evan, thanks for the detailed explanation in the AAG, it helped us understand the goal of this proposal.
The giveaway structure and collaboration with Ledger will certainly generate a lot of interest and positively impact the growth of the Polkadot community. We are in critical times and this kind of engagement/brand awareness might be a good thing, with great targeting. In some other market conditions, we would probably be against it, but now it makes perfect sense. AYE here.

1PGi...Cznp

Voted NAY
Pay 12,000 for 50 Ledger devices and 8000 for legal stuff and fees look really bad for me.

15Pa...Qxr3

Thank you for sharing the proposal. While the collaboration with Ledger and the giveaway concept are interesting, I’m concerned that this initiative may not be the most effective use of treasury funds. The primary issue is that the success metrics are centered around social media engagement and short-term growth in followers, which doesn’t necessarily translate into long-term value for the Polkadot ecosystem.

Offering free hardware wallets could attract many participants whose primary motivation is to win a high-value item rather than a genuine interest in Polkadot. This runs the risk of gaining followers who may not engage meaningfully or become active contributors to the community.

Additionally, since the cost of the devices is being covered by Polkadot community funds, it’s important that these resources are directed toward initiatives that benefit the community more directly, rather than primarily generating temporary attention.

I would suggest** re-evaluating this approach and considering alternative strategies that are more targeted in engaging with people who are truly interested in building and contributing to the Polkadot ecosystem.** Redirecting these funds towards developer incentives or educational content, for example, could have a more sustainable impact.

Happy to discuss further if you’d like to brainstorm alternative approaches!

Voting NAY for now.

#59·Polkadot Community Foundation <> Ledger - Giveaway to Increase 𝕏 Followers

Polkadot Community Foundation and Ledger Giveaway