BPGP#1: BP Q2 DAO Expenses

BlackPool keep growing on all fronts: TVL, number of verticals, contributor head count
Operational costs are steadily increasing. This is a good problem to have, as a barometer of our success, but it means we will need to stay organized, strategic, and transparent in our spending.

Summary:
This proposal outlines in detail the costs incurred by the DAO in Q2, 2022, and seeks approval. Going forward, we will publish these expense reports on a regular basis as we push to develop best-in-class operational practices.

Rationale:
The goal of this proposal is to bring more transparency to the BlackPool treasury. A governance framework is already in work (and should be ready next month), which should facilitate better visibility of the governance, and present a monthly budget for the DAO costs.

This proposal seeks approval for the DAO expenses for Q2 2022.

BlackPool Dao 04/2022 5/1/2022 6/1/2022 Q2 costs Reserve Budget Q2
Infrastructure (+10% reserve) 19500 19,500 19,500 58,500 5,850 64,350
Legal & Tax (+10% reserve) 8933.6 8933.6 8933.6 26,801 2,680 29,481
Events (+10% reserve) 19,500 19,500 19,500 58,500 5,850 64,350
Marketing (+10% reserve) 5,000 5,000 5,000 15,000 1,500 16,500
Admin + Tooling (+10% reerve) 13,185 13,185 13,185 39,554 3,955 43,509
Sub total mainnet expenses 66,118 66,118 66,118 198,355 19,835 218,190
Contributors + 25% reserve) 65,125 65,125 65,125 195,375 48,844 244,219
Sub total Polygon expenses 65,125 65,125 65,125 195,375 48,844 244,219
Total BlackPool DAO Q2 expenses* 131,243 131,243 131,243 393,730 68,679 462,409

Mainnet expenses:

IT & Tech Infrastructure:

All IT & Tech infrastructure will be provided as a service by an external partner focused on Administration and maintaining.E.g: AWS, Vercel, Github, and other tools and services needed by the DAO. For these expenses, the budget is 98050 USDC/Quarter.

  • Servers infrastructure estimated cost: 19,500 USDC/month
  • Admin & Tooling costs: 13,185 USDC/month
  • Reserve 10% : 3,268 USDC/month

Total IT & Infrastructure Q2 budget: 107,850 USDC

Legal & Tax:

As regulation and AML rules are getting tighter, the DAO must have a solid legal base on which operations take part. The DAO will continue to mandate an experienced advisory already working with major projects on the blockchain. For this category, the estimated expense is 26,800 USDC/Quarter.

  • Legal & Tax costs:8,934 USDC/month

  • Reserve 10%: 890 USDC/month

Total legal Q2 budget: 29,500 USDC

Events:

As the DAO competes against other significant players, events are needed to raise awareness and improve our market presence. For the events, the budget estimate is 58,500 USDC/quarter.

  • Events estimated cost : 19,500 USDC/ month
  • Reserve (10%): 1950 USDC/ month

Total events Q2 budget: 64,350 USDC

Marketing:

In order to improve the marketing around BackPool, the marketing and communication budget is increased to 15,000/Quarter.

  • Marketing estimated cost: 2,400 USDC/month
  • Communication estimated cost (audio/video/PR): 2600 UDC/month
  • Reserve (10%) : 500 USDC/month

Total marketing and communication Q2 budget: 16,500 USDC

Audits:

There aren’t any audits planned for now, but we already have 50,000 USDC in reserve ready for this.

  • Audits estimated cost: 0 USDC/month

  • Reserve from March 2022: 50,000 USDC

Total audits Q2 budget: 0 USDC

Polygon expenses:

Contributor:

The contributors rewards are estimated to 195,375.00 sdam3CRV/Quarter for their work:

  • Contributors rewards estimated cost: 65,125 sdam3CRV/month
  • Reserve 25% in case of new hires: 16,280 sdam3CRV/month

Total contributors Q2 budget : 244,200 sdam3CRV

Total BlackPool DAO estimated cost for Q2 2022: 198300 USDC + 195375 sdam3CRV

Reserve for Q2 2022: 19,800 USDC + 48850 dam3CRV

The reserve should be kept in USDC on Aave in case there’s a need for it.

Should we implement BPGP 1?

  • Yes, accept the DAO expenses
  • No, refuse the DAO expenses
  • Abstain

0 voters

4 Likes

Full support for this.

1 Like

Very interesting to follow the organization of DAO’s expenses.

I vote in favor.