Proposal “DIF-2ND-TRANCHE-FUNDING-Q3-2020“ (Closed)Back

Title:DIF 2nd tranche funding - Q3-2020
Monthly amount: 240 DASH (18339 USD)
Completed payments: 1 totaling in 240 DASH (2 month remaining)
Payment start/end: 2020-07-14 / 2020-10-12 (added on 2020-07-12)
Final voting deadline: in passed
Votes: 608 Yes / 306 No / 78 Abstain

Proposal description


Please read this letter to the network for a comprehensive update on the plans for the DIF going forwards.

Below is our latest fund fact sheet for June.

Also please read this statement to the network with regards to the ongoing election process for new supervisors.

Monthly ask will be 480 Dash for the next 3 months

In line with previous proposals we are looking for continued funding of 9% of the treasury budget. As discussed in the letter, we will revert back to the format we used successfully in Q4-2019 and submit two proposals each quarter at 4.5%. This translates into an ask of 240D per proposal.

What Does This Proposal Fund?

All Dash received are for only two purposes: 

1) reserves and 
2) fund management/admin/legal expenses.

Reserves represent up to 95% of this allocation, with the remaining funds for management, administration, and legal. Thanks largely to Demelza Hays offering the DIF a deeply discounted rate for consultancy services, we can keep ongoing costs to a minimum.

How Much Does the DIF Currently Have in Reserve?

$276,184 USD equivalent of assets.

Further updates since the 15.05.2020 letter to the network

  • The DIF has been successful in opening a USD denominated bank account with Signature Bank NY in the US. This account is now fully operational and the DIF Directors have liquidated approximately $50,000USD of current Dash reserves in order to fund this account and provide sufficient funds for ongoing operations for the next 12 months.
  • The DIF continues to successfully execute it’s re-balancing strategy.
  • The DIF now holds assets denominated in Dash, staked Dash via Bitcoin Suisse, USD and physical gold.
  • Demelza Hays has recently informed us that she has accepted a role as Head of Research at Coin Telegraph. As a result, she will no longer be able to continue with her current role as an investment consultant for the DIF. We’d like to take the opportunity to sincerely thank Demelza for the hard work, dedication and commitment she brought to her role at the DIF and we wish her well in the future.
  • The DIF will continue to execute on the strategy set out and with a little help from Demelza we have all the tools necessary to continue the current re-balancing strategy set out.
  • Further guidance will be provided on the future strategy and plans set out during May once the current election process has concluded.

For anybody not familiar with the current strategy please see Demelza’s strategy presentation in the DIF’s Q4-2019 quarterly report call here. You will also be able to find out much more information about our strategy and future plans in the letter published to the network on 15.05.2020.

When does the DIF hold its next Quarterly Report call?

Our Q2-2020 Report Call will be held around the 3rd week of July. We will release the exact schedule nearer the time. This will be broadcast live and there's a stickied post on top of r/dashpay to submit questions for the Questions and Answers section of the call. 

We hope to answer any questions you may still have below. 
Thank you for your servicing Dash’s governance needs.

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Discussion: Should we fund this proposal?

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0 points,10 days ago
Voting yes.
1 point,2 months ago
Voting no. To see why see my respond in the first DIF funding proposal this cycle.
0 points,2 months ago
sounds poor - why do you make a comment at all - is copy&paste already too much?
0 points,2 months ago
Why "DeepBlue" ?
0 points,1 month ago
Because "Alpha Go" was already taken.
0 points,2 months ago
I dont understand
0 points,2 months ago