Proposal “DCG-SUPPLEMENTAL-JULY-23“ (Completed)Back
| Title: | Dash Core Group July Supplemental Funding Proposal |
| Owner: | quantumexplorer |
| One-time payment: | 652 DASH (19142 USD) |
| Completed payments: | 1 totaling in 652 DASH (0 month remaining) |
| Payment start/end: | 2023-07-12 / 2023-08-11 (added on 2023-07-18) |
| Votes: | 438 Yes / 34 No / 33 Abstain |
Proposal description
Dash Core Group July 26th Supplemental Funding Proposal
DCG already submitted 1 funding proposals for the budget cycle that pays out July 26th. This is a supplemental proposal that will fund Dash Core Group with an additional 652 Dash:
1) DCG Compensation: 2,558 Dash per month (currently in month 2/3)
2) DCG Compensation Supplemental: 652 Dash (currently in month 1/1)
What is going on between the incubator proposals, the lysergic proposal, and this supplemental?
Initially Incubator strategists made 3 proposals for a total of 1150 Dash, representing a 15% increase month to month, soon thereafter a community member called lysergic made a proposal aimed to distribute those funds instead to DCG. This in turn caused Rion to look more greatly at DCGs public information on our finances and burn rate. Rion later met with me and we discussed our respective finances. He proposed that incubator would reduce their ask to 800 Dash, which would allow both DFOs enough funding through mid October to November (if neither reduced costs).
As a personal side-note: I believe Lysergic has a valid point: without DCG and more notably a good release of Platform, incubator wouldn't be able to ship. However I personally also believe that there will be a great deal amount of value derived from the work of incubator. I value incubator and don’t want to see them defunded. My hope is that we see Rions 800 Dash proposal and the supplemental from DCG at 650 both pass. This would allow the maximum amount of effort to continue going to development of the Project.
What does this specific proposal fund?
Assuming DCG’s current compensation proposal passes, with the price of Dash at $33, our funding for compensation will represent a significant gap from our actual compensation expense. This proposal will look to reduce some of the gap between our compensation revenue and our compensation expense.
How bad are things?
While things are worrying, development currently is continuing unaffected by the price. I believe that our community is strong and that we will find solutions together that will allow almost all paid contributors on the project to remain. Our aim in the upcoming month is to give options to the network to vote on.
Did DCG reduce staff?
We recently reduced our compensated team size by about 10%, our current break even price sits at around 80$/Dash. Our compensation reserve now sits slightly less than 2 months (if no additional funds - and around 3 months considering current level of funding).
Does DCG plan on reducing costs?
Yes, through various means we aim to temporarily reduce spending by between 20 and 30% in the upcoming month or two.
How much of an impact do the supplemental proposals have?
A big impact. The supplemental proposals leave us in a much better state to hold off being forced to cut vital employees as the bear market lasts longer.
If you have any questions, please direct them to @quantumexplorer at dashcentral to ensure we are notified of your request.
Requested funding is as follows for the July 26th superblock:
DCG already submitted 1 funding proposals for the budget cycle that pays out July 26th. This is a supplemental proposal that will fund Dash Core Group with an additional 652 Dash:
1) DCG Compensation: 2,558 Dash per month (currently in month 2/3)
2) DCG Compensation Supplemental: 652 Dash (currently in month 1/1)
What is going on between the incubator proposals, the lysergic proposal, and this supplemental?
Initially Incubator strategists made 3 proposals for a total of 1150 Dash, representing a 15% increase month to month, soon thereafter a community member called lysergic made a proposal aimed to distribute those funds instead to DCG. This in turn caused Rion to look more greatly at DCGs public information on our finances and burn rate. Rion later met with me and we discussed our respective finances. He proposed that incubator would reduce their ask to 800 Dash, which would allow both DFOs enough funding through mid October to November (if neither reduced costs).
As a personal side-note: I believe Lysergic has a valid point: without DCG and more notably a good release of Platform, incubator wouldn't be able to ship. However I personally also believe that there will be a great deal amount of value derived from the work of incubator. I value incubator and don’t want to see them defunded. My hope is that we see Rions 800 Dash proposal and the supplemental from DCG at 650 both pass. This would allow the maximum amount of effort to continue going to development of the Project.
What does this specific proposal fund?
Assuming DCG’s current compensation proposal passes, with the price of Dash at $33, our funding for compensation will represent a significant gap from our actual compensation expense. This proposal will look to reduce some of the gap between our compensation revenue and our compensation expense.
How bad are things?
While things are worrying, development currently is continuing unaffected by the price. I believe that our community is strong and that we will find solutions together that will allow almost all paid contributors on the project to remain. Our aim in the upcoming month is to give options to the network to vote on.
Did DCG reduce staff?
We recently reduced our compensated team size by about 10%, our current break even price sits at around 80$/Dash. Our compensation reserve now sits slightly less than 2 months (if no additional funds - and around 3 months considering current level of funding).
Does DCG plan on reducing costs?
Yes, through various means we aim to temporarily reduce spending by between 20 and 30% in the upcoming month or two.
How much of an impact do the supplemental proposals have?
A big impact. The supplemental proposals leave us in a much better state to hold off being forced to cut vital employees as the bear market lasts longer.
If you have any questions, please direct them to @quantumexplorer at dashcentral to ensure we are notified of your request.
Requested funding is as follows for the July 26th superblock:
- 651 Dash ($21,483 USD @ $33 per Dash)
- 1 Dash Proposal fee reimbursement
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Discussion: Should we fund this proposal?
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December 2023 is mentioned by Ash as the month when DCG could run out of reserves, even if DCG takes most of the superblock (which luckily you dont plan to do).
See : https://www.dashcentral.org/p/dash-incubator-ash-2023-q3
Will your plan to temporarily reduce spending by between 20 and 30% in the upcoming month or two really avoid the scenario of DCG running out of reserves later this year ? Or is DCG runrate even with those cuts just too high for the (bear) market / crypto winter Dash is currently in and the low Dash price we have now and may have the rest of the year ?