I’ll be honest here, I am all for the attaining an exchange listing and improving how we forecast our costs. However, I am concerned that these costs are emerging and the level of visibility around them.
I see this post as highlighting shortfalls in our forecasting and identifying areas we can improve.
My understanding from start to finish here, is GWG received $100K (bottom snippet) which was to allocated towards exchange listings, Apr-June period. Then IIP-27 emerged requesting $200K and now we have an additional cost increase. These 3 events occur within a 6 wks period and the KuCoin listing is not new.
What changed been GWG budget proposal (11/03/2021) to IIP-27 (02/04/2021) and now today ?
GWG Budget 100K
IIP-27 200K DPI approved, this post reduced to 150K DPI
This post additional 150K USDT
Exchange Listed Wallet Address Balance $356K +$150K more 13hrs ago.
Easy question - is KuCoin giving Index Coop back the 50K left over from IIP-27 ?
I am of the opinion that all these costs should have been thought through and budgeted for when the working group proposal was submitted requesting funding. We need to improve in this area.
I understand things change. The way to communicate this is by defining deliverables and assigning a cost in more detail. Then when the deliverables change, there is justification for cost/budget changes.
We need our working group funding requests to have more detailed costing data.
Change is fine, but known costs should be defined clearly and then an allowance can be made for unknown expenses.
There is currently had $356K in the Exchange List Wallet address, has now received $150K, how does that decision making process go …
This wallet looks well funded already. Sell $50K DPI, use $100K GWG exchange budget - done. No more funds needed. This circles back to the above point, what does the GWG $100K cover and how it is different to KuCoin.
$200K DPI and $307K INDEX.
KuCoin listing $300K all up ??
GWG budget excl. exchange listings $300K
My assumption here is that this post feels a bit rushed and therefore is lacking some of the details. So I think someone closer to the topic can outline in a bit more detail how all this capital is being assigned - that would be great for the DAO to have that level of visibility.
IIP-27 Wallet Address - 0x154c154c589b4aeccbf186fb8bc668cd7c213762
GWG Funding Proposal