📢 HotorNot DAO H1 2024 Funding Proposal - Community Voting Now Open

[diksha-yadav-yral]

Proposal Summary:

The last budgetary proposal for funding the day-to-day operations of HotorNot was submitted on 26 September 2023 (the SNS Sale was completed on 12 July 2023) and was expected to cover the expenses for a period of 3 months between Q3 and Q4 2023. We have managed to sustain the operations for the last 7 months (instead of the designated 3 months) by prudent management of these funds. No budgetary proposal has been submitted for Q1 2024.

We are putting up a budgetary proposal for H1 2024 for the withdrawal of 96,000 ICP. We are extending the funding period for this proposal to a period of 6 months (from the earlier 3 months), in view of the increased team size, continued growth hiring plans, and the flexibility required (including a longer runway) as we gear up for an upcoming high-growth trajectory, owing to the scalable multi-subnet architecture and increased marketing efforts.

Detailed Rationale for Extension:

Increased Developer Requirements: The evolving scope of our projects necessitates a larger development team. We have onboarded new Rust developers and plan to bring on additional developers, to enhance the robustness and efficiency of our platform.
Elevated Legal Costs: Our anticipated legal costs have increased due to the complexity of compliance, regulatory matters, contractual obligations, and the need for specialized legal services.
Flexibility for High-Growth Operations: As a rapidly evolving startup, extended funding for a longer runway allows us the flexibility to adapt and pivot operations based on emerging opportunities and challenges. This agility is crucial for sustained growth and market responsiveness.
Shift to Rust Development: Recognizing the benefits of Rust for our specific requirements, we propose allocating funds for Rust developers, benefitting long-term performance and scalability.
Favorable Market Prices: The favorable movement of the current market price of ICP provides a unique opportunity to secure more funds at a lower cost, optimizing our financial resources for an extended development period.

Revised Budget Breakdown:

1. Team Salaries:
   10 Core Developers (including Rust developers)
   2 AI Developer
   1 Product Manager
   1 UX/UI Designer
   4 Social Media/Community Managers
   2 HR Manager
   1 Finance Manager
2. Incorporation Fees and Foundation Fees:
   Legal incorporation of Hot or Not non-profit Foundation
   IP protection costs
3. HR/Operations:
   Operational expenses, including increased HR-related costs and administrative overhead.
4. Legal Fees:
   Compliance, regulatory matters, contractual obligations, and employment contracts.
   Additional budget for heightened legal complexity.
5. Third-Party Services:
   Costs related to third-party tools, technologies, and services necessary for seamless operation.
6. Marketing:
   Marketing campaigns, advertising, and promotional activities for extended visibility and user base growth.

Updates on Quarter 4, 2023 Efforts:

Multi-Subnet Architecture:
Progress: We have moved towards a multi-subnet architecture. In this new setup, user-canisters will be distributed across multiple subnets and our Platform Orchestrator will dynamically provision canisters across subnets. (Refer to the Proposal 85)
Next Steps: Given the proposal for the implementation of the same has been accepted, we will test thoroughly test the architecture and address any bugs and issues.
Content Gamification - "Up/Down" Game:
Progress: Successful launch as a separate experimental website, with ongoing community engagement for improvements.
Next Steps: Allocate resources for continuous iterations and prepare for integration into the HotOrNot gaming ecosystem.
N-Phones NFT Game:
Progress: On reopening of the sign-ups, the game mechanics would be finalized and gamification renamed to “Creator DAOs”. (More information to follow soon)
Mobile App Development/Progressive Web App:
Progress: Pivoted to enhancing the progressive web app for accessibility and seamlessness, including a one-step authentication system and Rust frontend development for a better user experience.
Next Steps: Continue web app improvements, allocate resources for optimization projects, and reevaluate mobile app development based on user feedback.
Social Ecosystem:
Progress: Features such as the leaderboard, gamification, and profile enhancements are ready for deployment.
Next Steps: Prepare for the seamless rollout of social features after sign-ups open up. Allocate resources for community engagement and support during onboarding.

Additional Initiatives Taken in Quarter 4, 2023:

Authentication System: Enables faster onboarding to the app and ICP ecosystem. (Details to be announced soon).
Transition to Stable Memory: Improvements in canister upgrade management by starting the transition from heap memory to stable memory.
Rust Video Player Exploration: We spearheaded a pioneering engineering endeavor by rebuilding our front end entirely in Rust, using leptos, a first on the ICP platform. This initiative aims to revolutionize user experience with breakthrough performance, enhanced stability, and improved functionalities, leveraging Rust's memory safety, performance optimization, and cross-platform compatibility advantages. The initial results are very promising and are comparable (faster in some cases) to the best Web2 web-based platforms such as Youtube Shorts, TikTok, etc.

Initiatives for H1, 2024:

Creator Community Building: Expand HotorNot's ecosystem by actively engaging and onboarding creators through community events and outreach programs. A small production house/creator house is also been set-up in India to facilitate new and upcoming creators to create original content for the platform. The aim is to foster connections, enhance content diversity, and attract a wider audience.
AI Recommendation System: We have initiated candidate generation as the initial step for training Machine Learning models using user embeddings and content embeddings to deliver personalized feed for each user on the platform. This is taking some effort owing to the challenges involved in collecting private user data crucial for initializing these models, especially in overcoming the hurdles related to the cold start problem.
Moderation and Dual Feeds: Implement a moderation system based on user tagging to create a safe content environment. Introduce dual feeds for a personalized content consumption experience, aligning with the platform's commitment to a customizable and inclusive user interface.
Revamp UI: Enhance the visual appeal, navigation, and usability of HotorNot's platform through a UI revamp. We have been reaching out to our active users to get real-time feedback on the usage of the platform. This user feedback would be incorporated, along with industry best practices to create a more intuitive and enjoyable user experience.
Rebrand: Undertake a comprehensive rebranding effort to reflect HotorNot's growth, values, and dynamic community. Branding agencies has been onboarded, along with user feedback to rebrand the platform. (More information to follow soon)
Legal Incorporation of Swiss Foundation: Initiated the legal incorporation of a Swiss Foundation for a stable and reputable legal framework in Switzerland for abled governance of the DAO (on the same lines as Dfinity Foundation). This move aligns with transparency and regulatory adherence, contributing to HotorNot's long-term stability and credibility.
Enhanced Gamification: Build on the initial success of the "Up/Down" game experiment by introducing and experimenting with new enhanced gamification elements. This initiative aims to keep users entertained and motivated, contributing to an immersive and rewarding user experience. (More information to follow soon)
Addition of Notifications: Introduce a comprehensive notification system, including push notifications and alerts, to keep users informed about new content and platform updates. This aims to increase user engagement and retention with a dynamic and interactive experience.
Explore Comments and Direct Messaging on Video Feed: Foster deeper connections among users by exploring the introduction of comments and direct messaging features tailored for video content (exploring all options including integration with external providers such as OpenChat, etc.). This initiative aims to facilitate discussions, feedback, and collaboration within the community.

Conclusion:

We appreciate your consideration and support in securing the resources needed to propel HotorNot to new heights.

Community Participation:
All HotorNot community members are encouraged to participate in this critical decision-making process. Your vote and input are instrumental in shaping the future of HotorNot. Please visit the proposal on the Internet Computer dashboard to cast your vote and share your thoughts: https://dashboard.internetcomputer.org/sns/67bll-riaaa-aaaaq-aaauq-cai/proposal/88