There are two parts to the operating expenditures 2024 proposal:
- 2024 Full Time & Part Time Contributor Guidelines
- 2024 Expenditures Brand and Operations Budget
- Approving the full time and part time budget guidelines for 2024
- Transferring full time & part time contributor compensation & token rewards from the treasury to the multisig
The 2023 guidelines proposed and approved can be found here:
The 2023 2nd Half treasury transfers can be found here: Q3: 2023 Operating Expenditures Treasury Transfers for Q3 Q4: 2023 Operating Expenditures Treasury Transfers for Q4
The full-time contributors currently consists of:
Cris, Jorge, Voith
Brand & Biz
Joe, Tom, Cullen
We do not intend to hire more full-time contributors in 2024.
Base Salary: $50,000 - $175,000 USDC per year (Paid in ETH or USDC)
Tokens: 15,000 - 50,000 CTX (Vests over 2 years, 6 month cliff, then bi-annually for 1.5 years)
Rewards for contributors that began vesting in 2023 and are eligible for them to claim need to be transferred from Treasury: 25,750 CTX in total. You can view the vesting schedule and amounts here: Full Time Token Allocation - Google Sheets
- Cris: 12,500 CTX
- Jorge: 5,000 CTX
- Voith: 4,500 CTX
- Cullen: 3,750 CTX
For part time contributors, we will continue with the bounty and grants model through DeWork. The tasks will come directly from the full-time contributors. This will help contributors have clarity on exactly what they will earn for their efforts, and the DAO will receive exactly what they need in terms of contributions.
The main goal is to get more devs involved with the DAO, specifically for code enhancements and new features. The bounties/grants will be reviewed by the full-time team, and CTX rewards will be distributed when tasks are completed.
Up to 5,000 USDC per month + Maximum 15,000 CTX (Coming from the original Liquidity Rewards allocation in the multisig)
Funding for full time and part time contributors will come directly from revenues generated by the protocol, loans exercised by market makers, airdrops or by CTX tokens. We will transfer from the treasury and allocate to expenditures on a quarterly basis. For Q1 2024, we will transfer 155,000 CTX to cover full time and part time contributor compensation. An overview of monthly expense and revenue data can be viewed here: Monthly Burn Rate - Google Sheets
- Approving the Budget Amount & Allocation for Brand and Operations
- Transfer funds from the treasury to the multisig
For 2024, we intend to be focused with how we are allocating capital for growing awareness and loyalty of Cryptex. This will consist of:
Messari Full Protocol Services
Messari is the leading provider of crypto market intelligence products that help professionals navigate crypto with confidence.
Initiation of Coverage: Comprehensive Deep Dive Report into Protocol
Four Quarterly Reports: Full archival node, data analysis, full distribution (1 million+ global reach)
Layer3 + Galxe Campaigns
Layer3 and Galxe host quests for their users to discover and complete actions on the Cryptex app. We’ve launched campaigns in 2023 with Layer3 and Galxe, showing promising signs of new user consideration and acquisition.
Current ongoing campaign with Layer3: Introduction to Cryptex - Layer3
Previous campaign on Galxe in collaboration with Trader Joe: Arbitrum Adventure by Trader Joe | Galxe
Maximum budget for brand: 180,000 USDC for 2024
Contributors of the DAO are using tools (Like Netlify, Infura, Discourse, Notion, and Heroku) to better create and collaborate.
Maximum budget for monthly subscriptions: 12,000 USDC for 2024
We’d like to budget a maximum of 8,000 USDC for 2024 for one-off opportunities or expenses that might arise.
For the 2023 we allocated capital for operations initiatives. You can find the proposal here [Operating Expenditures 2023) and you can review how this capital was allocated here: CIP-15 Operations Budget - Google Sheets
For 2024, we intend to continue to protect the DAO, our community, and the contributors that work relentlessly every day to build and position Cryptex DAO.
General Counsel will handle all aspects of legal/business operations not related to the core teams day to day development business.
Areas include advising our General Counsel on blockchain law, performing legal analysis, and future Cryptex DAO decentralized solutions, alongside representing the DAO on an as-needed basis.
Onboarding Certified Public Accountants with expertise specifically relevant to blockchain to handle all tax matters related to the DAO and its core team.
AWS fees, transaction fees, audits and any other operating expenses related to dev.
Health coverage for full time contributors.
Funding will come directly from revenues generated by the protocol, loans exercised by market makers, airdrops or by CTX tokens. We will transfer from the treasury and allocate to expenditures on a quarterly basis. For Q1 2024, we will transfer 55,000 CTX to cover brand and operations expenditures.
- Transfer a total of 215,750 CTX
- Transfer 25,750 CTX for full time contributor token rewards for 2nd Half 2023
- Transfer 135,000 CTX to cover full time and part time contributor compensation for Q1 2024
- Transfer 55,000 CTX to cover brand and operations expenditures for Q1 2024
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