Dash Core Group November Supplemental Funding Proposal
Dash Core Group November 26th Supplemental Funding Proposal
DCG already submitted 2 funding proposals for the budget cycle that pays out November 26th. This is a supplemental proposal that will fund Dash Core Group with an additional 744 Dash:
1) DCG Compensation: 2,296 Dash per month (currently in month 3/3)
2) DCG Infrastructure: 459 Dash (currently in month 1/2)
3) DCG Compensation Supplemental: 744 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 $35, our funding for compensation will represent a very 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?
Five months ago we reduced our compensated team size by about 15%, lowering our break-even price from ~$120/Dash to ~$103/Dash. It has since lowered to ~$93/Dash with an additional departure. It extended our compensation reserve to almost 9 months of reserve without any additional funding (though this now sits at around 6 months).
Do you plan on more layoffs in the near future?
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. We have no plans to revisit further reducing our staffing until at least January 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 three months ago 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.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 @quantumexplorer at dashcentral to ensure we are notified of your request.
Requested funding is as follows for the November 26th superblock:
Total: 744 Dash
- 743 Dash ($26,005 USD @ $35 per Dash)
- 1 Dash Proposal fee reimbursement