Proposal “DIF-SUPPLEMENTAL-FUNDING-Jan-2021“ (Completed)Back
|Title:||DIF Supplemental Funding Jan 2021|
|One-time payment:||800 DASH (173789 USD)|
|Completed payments:||1 totaling in 800 DASH (0 month remaining)|
|Payment start/end:||2021-01-12 / 2021-02-11 (added on 2021-01-14)|
|Votes:||946 Yes / 60 No / 0 Abstain|
In 2020 the DIF has seen amazing progress. From its very first investment in ReadyRaider, with DAO support we have also secured an investment in Quadrency, CrayPay, and an investment in the financial industry which is due to be announced around the end of this month.
Our third quarter balance sheet displayed assets of just under $264k. We were able to take those reserves along with continued DAO funding and invest $300k in private equity. Execution of these investments was helped greatly by price appreciation of Dash during the quarter. In fact, we have enough left over to cover our 2021 director fees. The DIF operation expenses are approximated to remain the same as the previous year, they are $50k per year plus $5k of legal fees for investment closed. Note: this $50k has already been paid upfront for 2021, in addition to all other current liabilities for the year ahead.
The DIF has recognised that this current treasury cycle is substantially undersubscribed, so we would like to offer the network the opportunity to allocate further Dash to the DIF as a one-off payment for the January cycle. The DIF would use this supplemental payment to help replenish the $300,000 of reserves that have been allocated to investments during the previous quarter. In addition, we plan to allocate some of the funds to initialize market making activities. This is in order to stimulate growth of fiat DASH/USD pairs in selected regions, primarily to help support the FastPass network. The first market we have targeted is a Dash/USD pair on Liquid Exchange, based in Japan. Although market making engenders a certain element of risk, we expect market making activities to be revenue positive overall.
Thank you for a very successful 2020 and looking forward to serving you in 2021.
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