2023 Operating Expenditures Treasury Transfers for Q3

Proposals
1

Dear Community Members,

We want to provide an update on the progress we’ve made since the approval of the 2023 operating expenditures proposal. For a comprehensive review of the proposal, please refer to the original post here.

To ensure transparency and accountability, we have diligently managed our budget, staying within the allocated funds for Q1 and Q2. You can track our monthly expenditures in the summary sheet available here, which provides a detailed breakdown of our expenses.

Now, as we enter Q3, we need to facilitate the transfer of assets from our treasury to support ongoing operational activities. We have reduced operational expenses significantly, with some full time contributors taking deep salary cuts. The proposed transfers for Q3 are as follows:

  1. Rewards for contributors who started vesting in 2022 and are now eligible to claim their allocations (29,625 CTX)

    • Please refer to the Full Time Equity - Google Sheets 9 document for the vesting schedule and individual amounts. The allocations are as follows:
      • Cris: 12,500 CTX
      • Jorge: 5,000 CTX
      • Voith: 4,500 CTX
      • Cullen: 3,750 CTX
      • James: 1,250 CTX
      • Aspen: 2,625 CTX

  2. Revenues generated from protocol usage (7.48 ETH, 2,400 USDC)

  3. CTX tokens intended for sale to VCs, angels, partners, or market makers, if grants do not cover expenditures (166,000 CTX)

We remain committed to securing grants that align with our vision and values. We will apply for a grant from Arbitrum, and in case of an unsuccessful outcome, we will explore grant opportunities with Optimism and Scroll.

We value your participation and encourage you to vote on the 2023 Operating Expenditures Treasury Transfers. Let’s continue building and evolving the Cryptex protocol throughout Q3 and Q4.

Please vote here: Snapshot

Summary of transfer amounts

195,625 CTX

7.48 ETH

2,400 USDC

*Amounts will be transferred to the operating multisig for distribution. (Operating Multisig: 0xa70b638b70154edfcbb8dbbbd04900f328f32c35)

Thank you.