Threshold Treasury Guild: 2Q23 Budget Request
Vote Type: Single choice voting (Yes/No)
Overview:
As part of TTG´s mission and scope and with its defined objectives the TTG is requesting discretionary funding of 50m T (~$1.6m) from the Threshold Treasury for Q2 2023.
This discretionary budget will be primarily used for:
- Compensation for Threshold’s Guild and Council contributors
- Execution of ongoing liquidity incentives
- Execution of diversification efforts
- Reimbursement to Bootstrapping node-operators per TIP-045
- Payment for code audits
- Other ongoing expenses and reimbursements supporting TTG’s mission
Milestones and Deadlines:
Budgeted funds are for 2Q 2023.
Proposed schedule:
- Forum Discussion Started: April 25, 2023
- Forum Discussion Concluded: April 28, 2023
- Snapshot Vote Started: April 29, 2023
- Snapshot Vote Concluded: May 2, 2023
Authors:
The Threshold Treasury Guild Committee (TTG) multisig consists of @JohnPackel , @Will , @ben , @Vict0r , @sap , @LakeLaogai , @Eastban. Two additional members are being added.
Threshold Treasury Guild OKRs
Use of Proceeds
Funds will be managed under the TTG multi-sig and will be allocated towards the TTG goals listed above as well as any discretionary expenses that may fall outside of the initial scope. The funds will primarily be used for :
- Compensation for Threshold’s Guild, thUSD team and Council contributors:
- 2.57m T per month (7.71m T for 2Q23).
- Execution of ongoing liquidity incentives:
- 1m T per month for T pool incentives (3m T for 2Q23).
- As per ongoing tBTC liquidity bootstrapping efforts (voted TIP 46 and upcoming TIP 47 and 48) additional liquidity incentives should be delivered: 4.5m T for 2Q23.
- Execution of diversification efforts:
- TTG expects to continue its diversification effort by acquiring 100 ETH per month.
- 6.9m T per month (20.7m T for 2Q23 - includes 20% price buffer).
- Reimbursement for Bootstrapping node-operators
- As per TIP-045 ratification,TIP-045 ratification, 3 node-operators are running Bootstrap nodes with monthly costs of $10k each per month
- 1.9m T for Feb 2023 and Mar 2023 reimbursements
- 2.8m T for 2Q23 reimbursements.
- Payment for audits
- Upcoming audit from MixBytes is invoiced for 3.1m T (~$99k).
- Provision for another audit 4.7m T (~$150k)
- Other expenses and reimbursements
- 1.6m T ($50k) for other expenses
This list is non-exhaustive, it is quite likely that over the duration of this quarter, the TTG will incur additional expenses, and/or be subject to opportunities that may require additional funding as there are ongoing proposals for additional liquidity programs.
Expiry / Timing of Budget Spend
There is neither an expiry on the allocated budget nor an estimate of when the funds will be depleted. However, the TTG ensures that these funds will be prudently and responsibly allocated toward activities and expenses that are consistent with its mission and aligned with its OKRs.