2024 Operating Expenditures Treasury Transfers for Q3+Q4

Proposals
1

Dear Community Members,

DAO contributors want to provide an update on the progress we’ve made since the approval of the 2024 operating expenditures proposal.

For a comprehensive review of the proposal, please refer to the original post here.

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

Now, as we enter Q3+Q4, we need to facilitate the transfer of assets from the cryptex treasury to support ongoing operational activities. We are also proposing a budget increase in the following areas:

  • Increase the part time contributor budget by 125,000 USDC to pay senior level devs to build the new version of TCAP and yield generating vaults for existing Cryptex products.
  • Increase the operations budget by 70,000 USDC to pay for audits for the new version of TCAP and yield generating vaults.
  • Increase the misc budget by 75,000 USDC for a pending integration fee.

Summary of transfer amounts:

695,000 USDC

24,000 CTX

Amounts will be transferred to the operating multisig for distribution. (Operating Multisig: 0xa70b638b70154edfcbb8dbbbd04900f328f32c35 10)

We value your participation and encourage you to vote on the 2024 Operating Expenditures Treasury Transfers for Q3+Q4. Let’s continue building and evolving the Cryptex protocol.

Please vote on snapshot: Snapshot

Thank you.

1 Like
2

Hi Matz, thanks for the writeup and for maintaining the spreadsheet. A few questions:

  • Legal – I realize there were budget dollars for legal estimated in the original proposal but the first half of the year had very few expenditures. Looks like there are a couple 25k consulting occurrences as well as an ongoing 2.5k monthly legal fee resulting in a much higher spend in the second half. Can you elaborate on these at all?

  • Part-time Devs – Looks like this increase is currently budgeted under Brand in the spreadsheet, would it be possible to split these out so we can distinguish the allocation for part-time brand contributors vs. part-time dev contributors?

  • Integration Fee – Is there any additional information that can be provided on this?

  • Summary Amount – It seems 695k USDC plus 24k CTX wouldn’t be enough to cover the estimated 3Q + 4Q expenditures (sum of the monthly burn row for the last 6 months of year). I’m wondering if this is all that is being requested because there may be carryover in the multisig from lower than expected operations in 1H? If not, can you provide additional info on how you arrived at these totals?

Thanks again!

2 Likes
3

Hi DesertDwelr, thanks for the questions. We have responded to them in the crypt keeper channel in discord. Here is the link to the responses: Discord