Adventure #35 - Juicebox.money

Hey there👋
My mission is to support ambitious founders & fuel innovation!

Shout to the ones who vibe with and support the mission👇️ 

The plan:

Use this framework to look into:
(1) The product protocol
(2) The founding team
(3) Funding and Hiring
(4) Why the business excites me

Current events + business talk
(5) Meme + NFT Market
(6) Hustler's ambition

Disclaimer: None of this is sponsored, I choose what to write about. This is not financial advice either!

Today is dedicated to Juicebox - a programmable protocol for funding projects & treasury management.

The Product Protocol

(i) problem

Treasury management is difficult.

Creating and distributing tokens isn’t easy either.

Raising funding in a trustless way - unheard of before web3.

(ii) solution and demo

How Juicebox works is fairly simple.
But maybe I can make it complicated?

Let’s say you wanna buy a capybara zoo. You need to do crowdfunding.

You put the project on Juicebox and people contribute ETH.
In return, they get your erc20 token (let’s call it $CAPY) or NFTs.

Now, people can participate in governance, benefit from the financial upside (or get rekt if the price tanks🤠).

Juicebox has been called the web3 equivalent of Kickstarter.
I think that simplifies things.

Ok, but how do the supporters know the founder won’t rug?

The “programmable” part of Juicebox’s tagline means that the payouts can be set to pre-defined wallets.

Then, the community knows exactly where the funds would go if the destination (i.e. wallet) is on-chain.

In the case of our capybara zoo, it wouldn’t be as “trustless” as smart contracts. Unless you can buy a capybara zoo with eth??? 🤩 

Something cool - if you stop liking the direction of the project, you can pull out.
You redeem the native tokens (e.g.$CAPY) to claim a share of the ETH held in the project.

Btw let me pause here - enough with capybaras.

What is your favourite animal???
Just reply to this email, I’ll see it.

A famous example of a project that used Juicebox is Constitution DAO.
It was a DAO that raised $42million and almost bought the US constitution.

So what does protocol look like??

The steps to create a project are simple and take about 10-15min to fill out.

I don’t want to attach 8 screenshots so leaving the link below.

Also, the community in the discord is super helpful so ask questions if you got any👌

(iii) considerations

My main considerations are not about the protocol but about how works 😅 

It’s all done through smart contracts.
But we know smart contracts and dumb people don’t mix well.

^ That’s why I don’t code hehehh 😁 

They have a page where they outline potential risks.
Juicebox has also been audited multiple times.
Love it!!

(iv) how you can benefit

If you want to start a project, you can:

• use Juicebox for crowdfunding & to validate your idea

• free marketing as collateral, I suppose?

As a community member, you can back projects you believe in.

But wait, there’s more!!

I take your feedback dearly so I spoke with Pablo who raised 💰️2600ETH = $8.3million💰️ with Juicebox for MoonDAO!

I asked him to give us some advice for raising $ through Juicebox.
Here’s what he said👇️ 

Pablo was nice enough and also his personal experience - 11 bulletpoints.

How MoonDAO raised $8.3 million through Juicebox - read HERE (2min)

Fun fact: Pablo and I met in Norway in 2018 which is also when I started my Spotify membership.

^ That is 57 months ago at $9.99, so I’ve paid $569 to Spotify so far.

The founding team

Juicebox operates as a DAO and doesn’t have the typical centralized leadership the business we typically cover in the newsletter.

But below are some of the cool contributors and their Twitters:

Design contributors - Sage Kellyn, Strath, WAGMI Studios, Peri

Dev contributors - Jango.eth, Peel DAO, Nicholas

Media contributors - Matthew Brooks, Brileigh

I’m sure there’s more! My Twitter stalking research and a short convo with Matthew led me to these names 👌 

Funding and Hiring

A) Funding

Community funded, currently holding $1.7M

B) Hiring

No careers page as a usual business would have.
But DAOs are usually looking for contributors so reach out if you fancy it.

Why this protocol excites me

Permissionless, proven track record, and makes fundraising easier.

The branding is also really really cool!!!

Favourite meme of the week 

Quick market thoughts

1/ Binance lawsuit. LINK

2/ Ticketmaster makes moves in web3. LINK 

3/ Kraken x Formula 1. LINK

4/ NFT God decyphers the Twitter algo

Hustler's Ambition
(ideas, frameworks, tools)

A 30sec video about a communication framework:

1/ What
2/ Why
3/ So what

I’m watching this cause I need to get to learn how to talk to you guys more.

^ EDIT: I’ve watched it and taken lots of notes.
Will likely share more on my LinkedIn next week

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See you next Sunday👋
- Mitko | Twitter