In this proposal, The Alchemix Core Team is requesting a rolling quarterly budget of $450k, being normalized to the standard periods for financial quarters. At the start of each quarter, funds will be added to bring the operational multisig’s stablecoin balance up to $450k. Each new quarter will just require topping up the balance, so any unspent funds become savings for the protocol.
From the time of the previous budget request, we have begun to run low on operational funds (we did not fund the operational multisig this quarter). With Q1 being nearly over, we request $150k to see us through the end of March and into Q2 in order to make payroll and to pay for our auditing engagement with Runtime Verification. On April 1st, the operational multisig will be topped up to $450k.
This budget pays for the following, with the estimated quarterly costs:
Developers - 150,000
Audits - 180,000
Marketing - 50,000
Infrastructure - 20,000
Total Estimate: 400,000
We estimate $400,000 a quarter in expenses, but are requesting $450k for the flexibility to be able to pay for more hiring, additional security reviews, marketing opportunities, or other unexpected expenses.
Note that in the last 2 months, Alchemix has hired 1 solidity developer, 1 front end developer, and 2 DAO operations hires, paid primarily in stablecoins. This is in addition to the community contributors that have joined the Newsletter and Biz-Dev/Governance SubDAOs. The contributors and subDAO budgets are funded from newly minted TIME tokens, which represents a stake of the core team emissions, diluting their payout for the betterment of the ecosystem.
a vote "for" authorizes this budget to go to the operational multisig for our budget
a vote "against" rejects this funding request
