Thanks for your message. I will address the facts here regarding the numbers referenced.
cc: @0x_Dev @catjam @anthonyb.eth @edwardk @afromac
The above statement is incorrect. The current makeup of the treasury is as follows. As at the end of June (Stablecoin holdings have not moved materially since then) the total holding is $7.8M
The below table shows stablecoin and stablecoin equivalents
| Account | USD Value | Account |
|---|---|---|
| Balancer Boosted Aave USD pool | $4.1m | IA |
| DAI | $315k | OA |
| G-UNI-FEI<>USDC | $1.6m | IA |
| G-UNI-DAI<>FEI | $1.2m | IA |
| USDC | $588k | OA |
| Total | ~$7.8M |
This therefore provides a runway of ~1.89 Years.
As you are well aware the Index Coop provides transparent financial reporting monthly. Here is our latest Quarterly Financial report for your perusal.
This is incorrect. As detailed above the Index Coop does not have $500k of stablecoins remaining from the $10m raise it infact has $7.8m.
This statement is not backed by any factual information or comparatives and is incorrect, so I will provide figures.
The DAO’s expenses over the last 6 month’s pre restructure (January to June 2022) totalled $3.8m, annualised is $7.6m. The DAO during that time had ~ 28 FTE (Core hire plus total hours listed on June rewards sheets/50) this represents a FTE cost of $271,428.
This budget implements a reduction of 18.3% per FTE not an increase as you suggest.
It should also be noted that included within this budget is the cost of hiring 2 Solidity Developers!
Given this and the fact the developers are not included in the FTE headcount of 19, the cost reduction has been significant.
The budget as presented enables the core team to build a successful organization, one that already has the buy-in from major investors. The restructure process was implemented with investor blessing and consideration.