PoH Swag shop to buy and burn UBI tokens


General Magic is offering their services to PoH to create a swag shop that will contribute to giving value to the UBI token by buying, and burning them with the profits, but also allow the community to support the project and be proud of wearing PoH merch.

Proposal description

I’d like to use this forum thread to discuss what would be the best solution according to the community needs that started in the Spanish community with a presentation in the community call

We propose 2 different solutions to address the same issue that we want to explore, design the PoH official swag shop or add the PoH brand to the GM shop. Each of the different solutions has different pros and cons.

Design of an independent site for PoH would grant the community more autonomy, and creativity to implement new features on the site. But on the other side would have a higher cost, would need maintenance (can be delegated to GM), and to make a profit should sell x amount of swag to cover costs before starting burning ubi tokens.

Listing PoH merch on the GM store is also possible as GM wants to create a store used generally by impact DAOs. This is an opportunity to have a swag shop at a very low cost, and would make profits almost right away (after covering initial costs). But on the other side, PoH would have less autonomy or creativity freedom to implement different features.

Customers will be able to pay with fiat and crypto. And if the community requests we could also create a merch token that PoH would fund and distribute at his will for the community.

How does this proposal benefit the community?

We recommend to the PoH community to use the profits of the shop to buy UBI tokens and burn them this way the community as a whole would be benefited by the impact of this proposal.

I’ve been hearing in the community that not everyone gets the chance to get PoH merch, allowing everyone to get it would create a stronger bond with the community and create an opportunity to everyone who wants to support PoH could buy swag and knowing the funds of that is being used in the benefit of the community.

Amount requested

Option 1 - PoH merch hosted on GM store

In case we decide to add PoH merch on the General Magic store we require ready made designs provided by PoH. Optionally, you can commission GM for the creation of the designs for the swag. Our rates are $60/h, and we estimate 4-5h of work for a single piece. Custom design or illustrations might take a bit longer and are subject to individual estimation

Once the branding is added profits for the PoH swag will be shared 50-50 which means that 50% will be used to burn UBI tokens and the other 50% part of the profit are directly funding the Impact DAO and Public Good organizations through the work of General Magic and making improvements on the actual site. This cost would cover up to 5 products in case PoH decides we need more GM could charge a maintenance fee on top of that ($100 for a batch of 5 products).

Option 2 - Dedicated PoH Swag Shop

If we decide to create a separate swag shop for PoH, independent from the GM swag shop, then we should have a broader discussion on your needs. To get an idea of the costs please read our recent proposal to ENS which you can consider as a guideline, an estimated range would be 10k-30k in stables.

What does success look like?

Making it possible for anyone to purchase PoH swag while increasing the value of the UBI token.

How will you share progress?

Once we have a formal proposal we will share updates in the same thread so the broad community is updated

Team Information

General Magic is a group of Web3 professionals with deep roots in the Ethereum ecosystem offering full-service product, governance, and crypto-economic systems design for Impact DAOs.

Our team of designers, developers, system architects, researchers, writers, and seasoned Web3 professionals have the knowledge and insights to support the ever growing demands of Impact DAOs — both by integrating with existing teams and creating resources from scratch.