So an update to the Beats DAO budget for November, We altered a little the prize rewards for the winners of the Discord Beat Submission/Competition.
Winner gets $150 instead of the previous $200
First Runner Up gets $100 instead of the previous $150
Second Runner Up gets $75 instead of the previous $100
And also we cut out this part: Top 5 candidates after the winners have been picked would be credited $15 each for their participation. $15 in NEAR X 5 = $75 in NEAR
The reason why we did this is because of the unfriendly volatility of the NEAR Token since we got funded. These flunctuations have not been in the favor of the BEAT DAO since we got funded when the NEAR token was alread $12-$12.5 per NEAR. But currently we have NEAR token price flunctuations from $7 - $10 and this has led to a deficit of the original amount we received in projection of the DAO’s activities.
Me and council member Paul have shelved the $200 each for us for the creation and management of the Social media channels: Discord and Twitter and we agreed to settle with the DAO maintenance fee of $150 each as this was a practical approach to keep our projects afloat and also get some tangible reward for our work. I hope the council resonates with the ideal of this improvisation
Cheers,
John