Proposal “DIF-SUPPLEMENTAL-FUNDING-Mar-2021“ (Completed)Back
| Title: | DIF Supplemental Funding Mar 2021 |
| Owner: | TheDIF |
| One-time payment: | 350 DASH (10514 USD) |
| Completed payments: | 1 totaling in 350 DASH (0 month remaining) |
| Payment start/end: | 2021-03-14 / 2021-04-13 (added on 2021-03-14) |
| Votes: | 702 Yes / 40 No / 0 Abstain |
Proposal description
This is a proposal for supplementary funding of 350D for the month of March.
What Does This Proposal Fund?
All Dash received are for only two purposes:
1) reserves and
2) fund management/admin/legal expenses.
Currently, our operational costs are approximately $50,000 per annum plus one-off legal costs associated with individual deals that the DIF may explore and enter into. We are also exploring securing the services of an accountant. We expect this will increase our operational costs. This expense is to prepare documents for reporting to the community. An accountant is better trained to prepare reports. Also this expense frees up supervisor time for other tasks.
How Much Does the DIF Currently Have in Reserve?
Supervisors have prepared our Q4 report, and it can be viewed here. Slides for that report have been produced and approved. You can find them here:
https://github.com/DashInvests/dif-communication/blob/master/DIF-BoS-Q4-2020-slides.pdf
After $300k of outlay in investments we still hand 400 Dash and just under $50k free and clear at the end of 2020. A significant portion of the 1000 Dash January DAO distribution is making a new DASH/USD market on liquid exchange. Liquid is a FastPass partner.
The DIF’s Vision
The DIF will:
- Facilitate the solicitation, negotiation, and due diligence of investments of potential interest to the Dash DAO
- Guide entrepreneurs seeking funding from the DIF by educating them on the process and best practices to improve the chances for a successful investment
- Manage reserves for the network in a manner that balances the needs to grow the reserves, and to limit risks
- Seed the liquidity and growth of emerging Dash financial markets or products
- Conduct all activities with a high degree of transparency - while providing a bridge to the needs of potential partners desiring to protect non-public information
DIF Mission: "The Dash Investment Foundation will invest in ecosystem partners on behalf of the Dash DAO to grow Dash’s footprint and deliver greater value with the resources available."
Selected recent earned media
- https://finance.yahoo.com/news/craypay-gets-investment-dash-investment-185439460.html?.tsrc=fin-srch
Old list of recent press releases
- Appointing additional supervisors: https://newsroom.dash.org/110892-dash-investment-foundation-appoints-additional-supervisors
- ReadyRaider announcement: https://newsroom.dash.org/preview/RG3fIBZjEafFRH1gRELYGQ
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The financial services investment encountered an issue in the launch of its Dash product. The investment itself is completed and the company has already launched other products in their portfolio successfully. The issue the company faces with Dash is that the custody provider they expected to use has withdrawn a previous commitment to add Dash within a timeline that would meet their needs, which regretfully is causing a delay. The company had to start over to seek out a new custody solution, which may take some time to confirm and implement. As soon as the Dash product is available, we will announce.