Proposal #27: Advisors and Growth Consultants: Ryan Sean Adams and David Hoffman


Ryan Sean Adams (RSA) and David Hoffman (David) are jointly proposing a growth consulting and strategic advisory service for Tracer DAO.

Both of us have played an instrumental role in building thriving DeFi communities and propagating core narratives in the space. As advisors, we would apply our community building, media strategy, and narrative building skills to propel the growth of Tracer DAO.

Additionally, we believe Tracer DAO will need connections, allies, and partnerships, both in the DeFi ecosystem and in the traditional world. Our work as Media producers of the Bankless podcast (1 million downloads per month) and the Bankless newsletter (80,000 subscribers) has given us an extensive network of relationships across exchanges, funds, media, and influential individuals. As advisors, we can lend this network to help with introductions and advice.

We believe strongly in a bankless future.

We also believe DeFi needs a strong and capital efficient derivatives market such as those found on centralized exchanges. To date, centralized parties haved dwarfed DeFi perpetuals products by all measures. We believe Tracer DAO has an opportunity to change that by building a decentralized perpetuals primitive that surpasses centralized alternatives and brings us closer to a more bankless future.

Growth Fund Allocation

If successful, this proposal will draw TCR from the Growth Fund. As the Growth Fund is currently not implemented, this proposal will draw TCR from the DAO treasury. The amount of TCR will be deducted from the Growth Fund allocation.


For the provision of our diversification efforts and services, we request:

  1. 3,500,000 TCR vested on a pro rata basis over 91 weeks, starting on the day that this proposal is executed; and

  2. 50% of the above TCR remuneration will be provided to RSA and 50% will be provided to David.

Remuneration to be provided to addresses:
RSA Address (RSA.eth): 0xe9d18dbfd105155eb367fcfef87eaaafd15ea4b2
David Address: 0x9f8D8096489d7d0e1A1051ABa87D34024447b7e3


If we are engaged to provide the services described in this Proposal, we will provide the following:

  • 1 hour per week of consultation to the Mycelium team in connection with its development of Tracer;
  • Private advisor channel with response to requests for assistance in 48 hours; and
  • Regular presence in the Tracer DAO community

Variation and Termination

  1. We, RSA and David, acknowledge that, if engaged, our engagement can be varied or terminated by future Proposals. However, this termination is limited to 2,000,000 TCR which relates to my advisory efforts; and
  2. We expect that any engagement will be terminated if we fail to deliver in accordance with the Deliverables specified above.

Conflicts of Interest

In the context of the Tracer project, conflicts of interest include:

  1. Existing Service Providers who are Related Parties; and
  2. Existing (vested and unvested) holdings of TCR tokens.

We, RSA and David, wish to declare the following conflicts of interest:

  1. Angel investment in Lyra Finance - RSA.


Any advisory service provided by RSA or David will not provide Tracer DAO any unearned access to Bankless related podcasts or newsletters. Bankless editorial decisions are merit-based only.


Unless otherwise defined in this offer, all terms beginning with a capital letter which are defined in the Participation Agreement have the same meaning unless the context otherwise requires.

If this offer is accepted as a Proposal under the Participation Agreement, we, RSA and David, may introduce more formally documented aspects of the Proposal.

Copyright Waiver

Copyright and related rights to this Proposal are waived pursuant to CC0 1 1.

  • RSA and David


[Ryan Sean Adams] is a crypto investor, advisor, & co-founder of Bankless. He’s an open finance maximalist who propagates the message of financial sovereignty. His mission is to onboard the first billion people to crypto through memes, media, and education.

[David Hoffman] is an advisor & co-founder of Bankless, a content studio with a newsletter, podcast and YouTube channel focused on education on how to live a life without banks.


I’m a huge advocate for RSA and David joining the Tracer advisory team. We share a vision of educating and onboarding millions of new users into capital efficient decentralised infrastructure.

Personally i’m excited to begin working with both David and Ryan as they help guide our media rollout and how TracerDAO can get the most traction in the lead up to Perpetual Pools launch!


Welcome frens! I think you guys would be brilliant additions!

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Are Ryan or David governors of Tracer? or part of the 100? or advisors? or any other involvement?

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At the current token valuation (derived from Proposal #11), the project would cost an equivalent of $157.500. The minimum cost of the project would be $90.000, even if the engagement was terminated.

At the indicated working hours, RSA & David would deliver a total of 182 person-hours, assuming both are involved for 1h/week. This would bring the hourly consultation cost to $865 which seems rather steep.

I am in no position to comment on the potential return on this investment but I’d like to remind that many DAOs and DeFi projects get offered various services at multiple times their price in traditional industries. Henceforth, it would be important to deploy a framework for valuing proposals in terms of their potential & expected ROIs before diving headfirst into questionably valued proposals based on a gut-feeling, FOMO, or other non-quantifiably driven decision.

Before proceeding, I’d like the team to consider 1) what are the expected outcomes of the involvement, 2) how does the involvement contribute to Tracer DAO, 3) are these contributions important/relevant to Tracer DAO at the current stage (evaluate this in context of the GTM strategy, timeline, maturity, reach, community, strategically important initiatives, etc), 4) could similar services be acquired from other sources at a similar or lower total cost, and 5) what is the financial impact of the decision.


I think this is the correct approach. While I’m sure they would contribute greatly, the cost is quite high considering the engagement.

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Agreed. This fee is way too high and comes off like an attempted cash grab from a low-participation DAO.


I’m at least personally betting on the growth of the Bankless brand over the coming years. After speaking with RSA I’m very compelled that their vision is clear, and they’re extremely focused on providing the right content for people to become bankless. This is a bet that Bankless is going to be huge, and Tracer DAO will be able to able to, by proxy, gain access to the founders of bankless network and their thinking around DeFi.

The social capital that both David and RSA have in the space is immense, and they’re now interfacing in meaningful ways with US regulators and a broad range of people that are interacting internal and external to the the DeFi landscape.


You might be replying to the wrong thread. This isn’t about the Bankless sponsorship. This is about a personal payment to these two of $800-$900 per hour each.

That’s actually a bargain rate for an hour of their time - having these two onboard will open many doors for us


This is actually only a question DAO governors can answer. I refer people to this article on [solutions chasing problems](

Let’s Start with the Problem

Before we can assess if any Solution is appropriate to the Problem we need to define What is the Problem This Solution is Supposed to Solve and How Will We Recognize that Solution was it to Appear?

They’re already being paid 30k separately for a bankless partnership, What does this extra “growth consultancy” offer to Tracer? maybe if the guys could shine a little light on the differentiation between the Bankless media partnership and this GFP role, it would make everyones decision alot easier? @ryanseanadams @david hoffman

If all we’re getting is 1 hour per week + “presence in the community” i think we’re already getting what most of the people want from this partnership via the Media partnership with bankless.


Big fan of Bankless and I believe it would be very positive to work with Ryan and David, however, fully agree with prior comments that the fee is way too high. We should focus on building a great community and product, advisors come for free to top projects, would be in favor of allocating those tokens to community contributors instead.


The potential upside is huge, with emphasis on the word potential. Perhaps it’s possible to lower the fixed fee and tie a bigger chunk of the tokens to a) results and/or b) community vote based on the perceived impact? I think the majority of the members have no problem rewarding the contribution if it’s clear Tracer is benefitting.

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Not currently no. Otherwise it would have been added as a conflict of interest.

Hey all! David here. I’ve copied a few of the common critiques, and added my own response to them. Let me know what you think!

At the indicated working hours, RSA & David would deliver a total of 182 person-hours, assuming both are involved for 1h/week. This would bring the hourly consultation cost to $865 which seems rather steep.

I think this is the correct approach. While I’m sure they would contribute greatly, the cost is quite high considering the engagement.

This is a perfectly valid way to measure the value of contribution as advisors if you want to take the most risk-averse approach possible. However, one thing that DAO’s are yet to prove themselves are their ability to make calculated upside-risk calculations, and generally DAOs seem to focus on their core competencies to carry them to success. It seems to be apart of the “build it, they will come” approach, which is not the sustainable execution plan that it once was in this industry.

Breaking things like this down to an hourly basis is the wrong framing and leads to suboptimal decisions. You can’t pay anyone X per hour for an intro to Mark Cuban. There’s no hourly rate for a viral meme to 120k followers. Ryan and I are frequently complimented about our ability to both distill information into a small package, while simultaneously having the platform to propagate that package of information far and wide.

You cannot buy these things on an hourly basis.

An alternative way to value an advisor engagement like this is to ask this question, if these two advisors are on our side how much does this increase the value of Tracer? Is it 0%, 5%, 50%, 2x, 10x? What’s that worth? What’s the opportunity cost of not doing this? What happens if a competitor gets these advisors instead?

If all we’re getting is 1 hour per week + “presence in the community” i think we’re already getting what most of the people want from this partnership via the Media partnership with bankless.

It’s far different from having clips of content on the Bankless show than it is for us to consult with the community about how best to optimize messaging on an ongoing and committed basis, which updates alongside the progress of the project. It’s the difference between having a contractual, transactional relationship versus a long-term aligned, ongoing, committed relationship to each other.

We love our sponsors but we don’t provide paid sponsors introductions to our network. We don’t provide them consulting on their messaging, branding, and growth. We don’t actively seek out opportunities to help them achieve their goals. These are things advisors do.


Thanks to everyone for the open feedback in this thread. Makes me bullish on this community.

And I think community is the key word here. No community can exist as a silio. We need relationships if we’re going to succeed. David and I have developed a network of relationships that spans DeFi projects, exchanges, investors, billionaires, celebrities, politicians, and regulators. We knew we’d need a big tent of supporters to achieve the goals of DeFi and we’re getting them.

In order to deliver its full potential I think Tracer needs a big tent of supporters too. As advisors to the project our tent of supporters becomes your tent of supporters.

So if I were to summarize the value proposition it’s this: a network of relationships. A network that gets stronger every day.

Though we’re often asked, we have a very small list of projects we’d ever consider advising. Tracer is one.

As we often say on Bankless…it’s people all the way down.

Hope we have the opportunity to work together!

  • RSA

As a premium subscriber to Bankless and a fan of all the quality content David and RSA produce, I am quite confident they would add a lot of value to the project if they genuinely (!) believe in it. This is something I am not questioning but I would be interested in hearing why exactly they have chosen Tracer to be on their shortlist to advise:

  • Would you two elaborate more on this decision?
  • What exactly are you looking for into a project when reaching out to be advisors?
  • What interests you most about Tracer?
  • Why do you think this project has chances to succeed?
  • What have you identified as something that the project is lacking?
  • What other projects have you consulted in the past? And with what results?

In regards to the “hourly rate” some users mentioned in this thread, this is not how remuneration should be looked at. A senior sales person can easily charge $200k-300k annual salary per year but in the end it does not matter if that sales person manages to sell $100m in sales. How do you price networks of people? How do you price an intro that could get Tracer listed on exchange x? So while I somewhat agree that the remuneration is more on the steeper side of things (at least at this point with the current vague plan: 1h per week consultancy, response in private channel, and community presence), I would still consider this as a great option to support Tracer’s growth since both of them are absolutely killing it in DeFi (+very strong network).

Maybe it would make sense to have more cliffs in this proposal (quarterly?) so progress can be assessed by the community more frequently while being able to compensate the two at the same time. Or the community needs more ideas and clarifications on how this advisory could potentially look like so community members see the value they would bring.

In any case:
I would propose an open community call with David & RSA so we can get everyone together and ask them directly all of these questions, concerns, ideas and proposals before making a decision.


Consensus check
  • Accept GFP → Growth Fund Managers accept
  • Reject GFP

0 voters

Consensus check looks quite positive :+1:

Should we invite @DavidHoffman and @ryanseanadams for a community call and get things moving on this one?

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