Proposal “DCG-Sup-Fund-July22“ (Completed)Back

Title:DCG July 26th Supplemental Funding Proposal
One-time payment: 345 DASH (10000 USD)
Completed payments: 1 totaling in 345 DASH (0 month remaining)
Payment start/end: 2022-07-12 / 2022-08-11 (added on 2022-07-21)
Votes: 559 Yes / 35 No / 18 Abstain

Proposal description

DCG already submitted 2 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 345 Dash:

1) DCG Compensation: 2,296 Dash per month (currently in month 2/3)
2) DCG Infrastructure: 459 Dash (currently in month 1/2)
3) DCG Compensation Supplemental: 345 Dash (currently in month 1/1)

What does this specific proposal fund?
Assuming DCG’s current compensation proposal passes, with the price of Dash at $47, 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.

Did DCG reduce staff?
Last month we reduced our compensated team size by about 15%, lowering our break-even price from ~$120/Dash to ~$103/Dash. It extended our compensation reserve to almost 9 months of reserve without any additional funding (though this now sits at around slightly more than 8 months).

Do you plan on more layoffs in the near future?
As communicated in the previous month the answer is no. Dash Core Group is now mostly a technical organization with most of our business development and marketing staff having exited the project. The remaining staff is essential to us functioning at a high level. There isn’t any “fat” left to cut. We have no plans to revisit further reducing our staffing until the second half of Q4 2022, regardless of what happens with the price of Dash. 

Didn’t DCG previously communicate they wouldn’t request over 60% of the total proposal system budget?
Yes. In the past, Ryan Taylor, previously CEO of Dash Core Group, made a commitment to the Dash network that DCG’s monthly ask would never exceed 60% of the total budget. This was stated after there was significant backlash against DCG requesting funding for tax-related expenses in late 2018, which caused competing proposals to be pushed off the funding list. In this cycle, the same situation is not present; no other proposals would be negatively affected by this request for supplemental funds. It therefore seems to be in the best interest of the project to remove the self-imposed 60% limit, as not doing so would effectively hurt us by having to let go of people that are providing value to the project.

Samuel Westrich (Quantum Explorer) had reached out to the Dash Trust Protectors last month and asked whether they would support DCG making a proposal for the rest of the available treasury this month. All responses from the Trust Protectors had come back with support for the supplemental proposal. Given this indication of support, we decided to move forward and have masternode owners vote on these supplemental proposals every month for unused treasury funds. The supplemental proposal submitted by DCG last month passed.

We will continue making such supplemental proposals in the case of unused treasury funds - waiting around one week before the end of each cycle to leave time for other submissions.
If you have any questions, please direct them to @glennaustin at dashcentral to ensure we are notified of your request.

Requested funding is as follows for the July 26th superblock:
  • 340 Dash ($16,215 USD @ $47 per Dash)
  • 5 Dash Proposal fee reimbursement
Total: 345 Dash

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Discussion: Should we fund this proposal?

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0 points,1 year ago
I've been impressed with the progress in the Dash mobile wallet and testnet over the last several months. I'm also excited by upcoming features for the wallet, and of course for Platform/Evolution. The most important thing for DCG to keep up the momentum and deliver the items in the roadmap is funding to keep the team and possibly increase the team size, which is needed in the long-run, IMO. Voting yes.
2 points,2 years ago
Get out there and vote people. Because of the continuing crypto dip and low Dash price, EVERY DASH IS PRESCIOUS.

0 points,2 years ago
I am leaning toward no on this one. I believe when it comes to funding compensation, we should be funding results not promises. I know that unforeseen issues often cause setbacks in software development and I really appreciate Sam's effort and openness when communicating these issues. However, this communication does not translate to tangible benefits for the end users of Dash.
4 points,2 years ago
Testnet network is finally stable after months (and has been for the last day). We would do the activation today, but it's Sunday and not everyone is around so we are going to do it first thing on Monday.

On Android we recently allowed people to stake through Crowdnode and we have started working on potentially getting .

Platform has taken a long time but there was just so much to do. We literally built a full database in around 7 months If I could snap my fingers and get everything out I would but it's not just promises that need to happen, its hard work and most importantly writing papers and coding. Compare the average dev in Dash nowadays to the average dev in most other projects and you will see that we write more code and faster than most other projects.

The sad truth is when I took over as CTO last year, we just were not in a good state. We had 4 devs in platform, 2 devs in Core. We now have 10 devs for platform and 5 devs in Core and the progress velocity is a lot higher. Most of the devs hired in the last year have also been amazing hires beyond my wildest expectations.

Since many of our devs I feel are currently killing it, I don't know what more to say. We didn't do an ICO to give us 100s of millions of dollars (if not more) to hire teams of hundreds of people. I agree promises shouldn't be funded, but the end result is the sum of many parts. And making those parts is a long and hard progress, especially when you make things that have never even been conceptualized before. The only thing I can ask for right now is that we are judged not by the current lack of the end result, but more on the finalization of these parts.
4 points,2 years ago
Speaking as a masternode owner, the most important thing we can do is get Platform up and running on Main Net. Since the value of Dash crashed, every Duff counts. We should mint every Dash that we can and put it all to good use somewhere. The way we get Platform up and running as fast as humanly possible is by not laying off any more Devs. That takes money/Dash.

Voting yes,
1 point,2 years ago
quoting :

''Last month we reduced our compensated team size by about 15%, lowering our break-even price from ~$120/Dash to ~$103/Dash. It extended our compensation reserve to almost 9 months of reserve without any additional funding (though this now sits at around slightly more than 8 months).''

If this passes, how low will DCG break-even price be ? From $103/Dash to ???
5 points,2 years ago
Thanks for your question. Breakeven price would go from $103 to $89. We would still be in a deficit, just not as large. If this proposal passes we won't need to eat into our reserve as much for the month of August.
3 points,2 years ago
Thank you, you have my support.