Background
Starting this one off with some great news for the community.
While in the middle of executing CIP-8, the price of CTX increased from $9 to $42.
From our goal of $188,600 USD to fund CIP-8, Marketing, and Branding, which at the time of executing CIP-8 was roughly 21,000 CTX, we received a total of $786,273.51.
This gives the DAO a cash surplus of $597,673.51 from CIP-8.
We are proposing CIP-9 come from this surplus, with the remaining balance transferred back to the DAO treasury as it can be used to cover future necessities, without the need of selling further ETH or CTX from our treasury until such time this cash surplus is depleted via future proposals.
As always, we want to be as transparent as possible to our community and make the next proposal for Operations Budget and Community Coordinape Grants to avoid sending any money back and forth.
Intro
As our ecosystem grows, we want to protect the DAO, our community, and the core teams that work relentlessly every day building and positioning Cryptex. For this, we propose funding a General Legal Counsel, an advising Blockchain Attorney, DAO accounting, and Core Team Health Insurance.
Budget Breakdown
General Counsel: $150,000
General Counsel will handle all aspects of legal/business operations not related to the core teams day to day development business.
Blockchain Legal: $50,000
Areas include advising our General Counsel on blockchain law, performing legal analysis, and written legal opinions on CTX, TCAP, and future Cryptex decentralized solutions, alongside representing the DAO on an as-needed basis.
Accounting: $25,000
Onboarding Certified Public Accountants with expertise specifically relevant to blockchain to handle all tax matters related to the DAO and its core team.
Insurance: $100,000
Our team’s physical and mental health is key. Health insurance or stipend for current and new core members is of utmost importance. This bucket will fund insurance for our team.
All of these things allow our core team to focus on what is most important. Building.
*The remaining surplus of $272,643.51 will be returned to our treasury for future use as voted by the DAO.
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