Sludge is coffee for the CrypToadz community created by CryptoDrip. Bags of Sludge will feature CrypToadz artwork and be filled with premium whole bean coffee drop shipped anywhere in the U.S. CrypToadz NFT holders will receive discounts and be eligible for free Sludge giveaways.
Current Status
We have secured the ability to deliver custom, freshly roasted whole bean coffee directly to customers within days of ordering it. We are in the process of developing a wallet integration to verify NFT ownership with the functions of an online storefront/checkout. Once complete, orders can be placed and Sludge can be delivered directly to the CrypToadz community.
Requested Budget
We are requesting 4 ETH to help with the continued development of our online store plus the cost of a free Sludge giveaway to the first X number of CrypToadz NFT owners.
Roadmap
⢠Design artwork for Sludge bag via community contest whereby winners will have their toadz features on the bag.
⢠Finish development of online storefront with verification integration at checkout.
⢠Choose coffee roast for Sludge using community involvement.
⢠Accept Sludge orders.
⢠!vibe
Value
⢠Sludge brings instant real-world utility to the CrypToadz community.
⢠Treat your friends and family to some delicious Sludge while you share in some CrypToadz lore. Itâs great marketing.
⢠Dedicate a portion of Sludge sales back to the Treasury or to fund Toadz supported causes and projects.
⢠Enjoy a mug filled with hot delicious Sludge (or brew some iced Sludge).
Milestones
Select web development team to build traditional e-commerce store with a wallet connectivity layer to discount Sludge based on CrypToadz NFT ownership (i.e. verification of NFT converts to appropriate discount code). Negotiate scope of work and cost for site/store buildout. Hire development team (1-6 weeks). 2 ETH Requested.
Create and run a âSludge Bagâ design contest for CrypToadz community to have their toad(s) featured on the Sludge bag. They will also weigh in on the final bag design and help us beg Gremlin to be the one to create the final design on the CryptoDrip bag template (1-4 weeks).
Select the specific coffee roast and bean from our supplier. Contest winner participation included (3-6 weeks).
Test and verify site functionality with self and select community members (6 weeks).
Determine how many free bags of Sludge will be given to CrypToadz community on a first come first serve basis (1 bag per toad) before switching over to discounted Sludge. Number of free and discounted bags will have a 1 ETH allocation + any leftover ETH from web development allocation (6 weeks). 2 ETH Requested.
Launch Sludge, process orders and enjoy (6-8 weeks).
Team
Sludge is developed by personal finance expert and co-founder of CryptoDrip, Douglas Boneparth. Douglas is one of the most recognized figures in wealth management and an early adopter of cryptocurrency. He is also a coffee enthusiast with deep ties to both coffee and financial communities. As a co-founder of CryptoDrip, his mission is to make web3 as approachable as a cup of coffee.
Example Sludge Bags
Below are examples of what the bag can look like. The contest will determine whose toadz are featured. We are going to swap out the blue/purple coffee swirl for a green themed coffee swirl.
Thanks for this submission and being in our first five proposals! On the budget side, could you create milestones in your project we could check in on between sending you some of the ETH you requested and the rest?
How are you planning to decide X for the number of Toadz owners who get the Sludge and how would they be picked?
Coffee + toadz? Two of my favorite things. Definitely down to support this idea. Is there room to explore more customization? i.e. each CrypToad holder being able to order coffee with their toad printed on the bag? I realize this is an added cost for you, but could greatly increase customer engagement.
If not, another cool idea would to have rotating blends each month (bimonthly, or some other schedule) with new toadz rotating on the bag as well â like March could be âFidenza French Roastâ with some Toadenzas on the bag. April could be âDrive-thru Dark Roastâ etc⌠Just a thought! Love the general concept though, keep up the awesome work.
In your proposal, you wrote that the 4 ETH is âto help with the continued development of our online store.â In the Current Status section, you note that âare in the process of developing a wallet integration to verify NFT ownership with the functions of an online storefront/checkout.â
What is the current status of development.
Have you hired a team?
Have you provided a scope of work to them?
Can you please provide insight in where you are prior to the grant?
You stated that part of the grant would fund a âSludge giveaway to the first X number of CrypToadz NFT owners.â
Can you please provide info about how many members of the community would get to enjoy a free bag of coffee?
You note that Toadz would get discounts from the store and that you would â[d]edicate a portion of Sludge sales back to the Treasury or to fund Toadz supported causes and projects.â
How much do you anticipate the discount would be?
What percentage of sales (gross or net) would you dedicate to the Treasury/Toadz projects?
In your roadmap, you state that you would hold a contest for members of the community to have their Toadz featured on the bag.
Will the winners of the contest get anything else? Merch?
Is it possible to cut the winners in on a revenue share?
Under the Team section, you state:
Please donât take this the wrong way, but why should the community fund this for profit project with your founder?
If I found the right person, his LinkedIn page says that Douglas is President of Bona Fide Wealth, LLC (https://bonefidewealth.com/). Please correct me if this is not the right person. I think answering some of the questions regarding rev split may help with my concerns that this is a request for the treasury to fund a for-profit project that might be able to get funding from other sources. I like the idea of Toadz coffee, I just want to make sure the community uses the Treasury for projects that could not find funding elsewhere.
We are in the process of sourcing and interviewing several web developers to layer a wallet connect function to a e-commerce platform. This should also answer all your other questions pertaining to web development at the moment.
The number of members that get to enjoy a free bag ultimately depends on how much free coffee the treasury wants to support. Assume $20/bag in cost. $3,000 yields 150 bags (~1 ETH at todayâs prices). Thatâs how I am thinking about the numbers currently.
The discount would be variable depending on a number of factors (i.e. the cost of bags and how the community favors discounts vs. profit sharing to the Treasury). Iâd like to see a ~15-20% discount for CrypToadz holders + opportunities for future giveaways. The percentage of sales given back to Treasury/Toadz projects depends on the volume of sales generated. If people donât buy Sludge, thereâs nothing to share.
Winners get the joy of seeing their toad(s) on the bag. I am open to them getting more if thatâs something the community would like (i.e. an upgraded coffee setup at home). I would not consider cutting winners in on the profits. Coffee is a thin margin business and I think weâre going to have to see what people want more, discounts or profit sharing to the Treasury. Ideally, I want to see both.
I am Douglas Boneparth and the president of Bone Fide Wealth. A few things to clarify here. (1) This project has no affiliation with my wealth management firm whatsoever. (2) CryptoDrip is a web3 project separate and apart from Bone Fide Wealth. One of its main function is to bring coffee to web3 and NFTs. I believe that that is exactly we are doing with Sludge and our grant request. (3) Sludge is unlikely to generate any profits for CryptoDrip. Profits that are generated are either shared to the Treasury or reinvested in the evolution of Sludge coffees. (4) I am not sure the grant program is about funding projects that are unable to âfind funding elsewhereâ as much as it is to facilitate projects that promote the CrypToadz brand, generate revenue and provide real value/utility to the community. Again, I believe Sludge does all of this.
I appreciate your questions, especially as the husband of an attorney (I am assuming you are indeed an exlawyer like your handle suggests). Thank you for digging in to this. Happy to answer anything else.
Thank you! I love this idea, but thereâs no good way (yet) to scale individual bags at the moment. Itâs not even a function of cost really. Maybe we can do one-offs from time to time (contests/gifts).
However, we can change out the coffee and add other roasts based on demand, season and community preference. I think that will make every one happy and very excited to keep drinking Sludge.
Great to see this proposal evolving and getting clearer based on feedback. Thanks for adding in Milestones. Could you add in when youâd want parts of the 4 ETH across each milestone? E.g. milestone 1, 1 eth, milestone 2, 1 eth, etc.
I think weâre going to be able to get Sludge overseas. Shipping might be more expensive, but perhaps reasonable depending on the country weâre shipping to. Just starting things off with domestic so we can make sure everything is going the way we want.
I think itâs a great idea to fund and am excited to see how everything evolves.