Project Setup Examples
The examples below demonstrate how projects have used Juicebox to achieve their goals.
Before looking at the examples below, read the success stories on juicebox.money:
- ConstitutionDAO: How a group of friends on the internet raised over $46 million to buy the U.S. Constitution.
- MoonDAO: How a community of space enthusiasts raised $8.3 million to send a DAO member to space on a Blue Origin rocket.
- SharkDAO: How SharkDAO raised over 1,000 ETH to buy 6 Nouns NFTs and become the largest sub-DAO of Nouns DAO.
- StudioDAO: How StudioDAO is building the first million person movie studio on Juicebox.
Trying to raise as much funding as possible – for an auction, a charitable cause, or something else.
ConstitutionDAO tried to buy a copy of the U.S. Constitution at auction, and was able to raise $49.6m to do so by using the following strategies:
- Before launching the project, ConstitutionDAO had a Discord community with over 2,000 members and had gained the support of several well-established figures on Twitter – as always, sharing your narrative and building a community is an important first step.
- For their first cycle, ConstitutionDAO had unlimited payouts with an unlocked cycle (no duration) and no edit deadline. This gave ConstitutionDAO members the flexibility to move funds or update the project however they needed to as the auction evolved, and the community trusted ConstitutionDAO because of the involvement of several public figures.
- During the auction, ConstitutionDAO pulled the project's funds into the Gnosis Safe wallet which owned the project – this allowed them to bid on the Constitution.
- ConstitutionDAO didn't win the auction. After some brainstorming, the community decided to perform a refund through Juicebox. Funds were transferred back to the project, payouts were set to 0, and the redemption rate was set to 100% – everyone who wanted to reclaim their funds could burn their $PEOPLE tokens to do so. The NFT which represented the project's ownership was then sent to a burn address (a wallet nobody has access to), guaranteeing that no further changes could be made to the project.
One year after the original ConstitutionDAO, ConstitutionDAO 2 raised 233.2 ETH (worth TODO) in another bid at buying the Constitution. Unlike the original project, which used the $PEOPLE token, ConstitutionDAO 2 used NFTs to raise funds.
The project had four NFT tiers with custom art: one priced at 0.1 ETH, one priced at 1 ETH, another priced at 10 ETH, and a final NFT priced at 100 ETH. While the project raised funds, it used a similar strategy to ConstitutionDAO – unlimited payouts, no deadline, and an unlocked cycle for maximum flexibility.
When Sotheby's unexpectedly postponed the auction, ConstitutionDAO 2 gave their community two options:
- For those who wanted to reclaim their funds and move on, the project set their payouts to 0 and enabled NFT redemptions with a redemption rate of 100% – this meant people could burn their NFTs for a full refund.
- Those interested in continued participation were given the option to burn their ConstitutionDAO 2 NFT to claim membership in another group called UnumDAO.
Alongside their Juicebox campaign, ConstitutionDAO 2 raised funds with Nucleo, a private multisig built on Aztec (a privacy-oriented zk-rollup). To learn more about this and project, visit unumdao.org.
ConstitutionDAO 2 built a website where people could learn about and support the project, and promoted the project across various social media platforms – in particular, Twitter and Discord.
- AssangeDAO, a group which raised ~$52.4m to purchase a Murat Pak NFT, the revenues of which went towards the legal defense of Julian Assange.
- SpiceDAO, a group which raised ~$11.6m to purchase a copy of Jodorowski's screenplay for Dune.
- LunchDAO, a group which raised ~$2.4m to purchase a lunch with Warren Buffet.
Bootstrapping a Project
Raising funds to get a project started – using Juicebox as an alternative to loans or venture capital.
- MoonDAO, a DAO which sent one of their members into space and is funding decentralized access to space and space research.
- PandaDAO was a developer DAO which created several NFT projects and tools for DAOs.
- DomainDAO is attempting to establish a .dao TLD (top-level domain).
Running a Project Over Time
Using Juicebox to run a project with ongoing payroll, token issuance, and revenues.
JuiceboxDAO, the group which builds and maintains the Juicebox protocol and the ecosystem around it, is funded and managed on Juicebox – the DAO operates the first project on each version of the protocol, and is funded through direct contributions and protocol fees.
JuiceboxDAO v1 started off with a 30 day cycle, and a 7-day edit deadline – this conservative approach gave supporters confidence that they would be able to respond to changes to the project well in advance. The project also had a 10% reserved rate, a 60% redemption rate, and a 20% issuance reduction rate. This issuance reduction rate (a per-cycle increase to token price) was extremely large – this gave a strong incentive to support the project within its first cycle instead of supporting it later on. The relatively low redemption rate was another incentive in favor of supporting the projects – contributors received most of the tokens issued by their payments.
Additionally, the project had payouts to contributors from day one. This set a tone of rewarding contributors, which attracted developers and other people interested in contributing to the community.
Later cycles operated on a shorter 14-day cadence, synchronized with the DAO's 14 day Governance Process. JuiceboxDAO uses project token voting on Snapshot to make decisions, and implements governance outcomes through its Gnosis Safe.
The TileDAO project was funded by primary sales from the Tiles NFT collection. Both the DAO and the NFT collection were created by @peripheralist, and the project was used to manage grants, payouts, and event funding.
The project was owned by a Gnosis Safe multisig, and used 7-day cycles, a 50% redemption rate, and paid contributors from the beginning. This allowed the project to quickly fund and iterate upon new ideas. The project used a 10% reserved rate and a 0% issuance reduction rate when it was launched, but token issuance tapered off over time as the reserved rate was raised to 34% and the issuance reduction rate was raised to 2%. This 2% reduction in token issuance each cycle compounded quickly due to the short cycles – within several months, token issuance was reduced to less than half its original rate.
The project grew through organic traction on Twitter, and community members joined a private Discord server for verified NFT holders. TileDAO went on to run several events, create murals, and launch a second NFT project called Dreamland.
- Peel, the group of frontend developers building juicebox.money.
- StudioDAO, a group building a decentralized movie studio owned by filmmakers and fans.
- Slice, a dapp which allows people to sell items, mint NFTs, and split payments from a decentralized store.
Although this is conceptually similar to Crowdfunding, many people use Juicebox to group-buy NFTs from popular collections.