[Approved] NEAR MEME DAILY Funding Request (June)

Guild: NEAR MEME DAILY

March + April + May Month Expenses

We have received $12,700 in the 2nd Week of April to cover the expense of March, April and May according to our proposal.
Total amount converted to tokens was 782.5 $NEAR with NEARUSDT = 16.23.

I am sharing here the overall expenditure of the received grant amount.

Month Reward($USD) NEARUSDT Reward ($NEAR) Used $NEAR DAO TREASURY
Grant Received 12,700 16.23 782.5 0 782.5
March 2500 16.23 154.03 154.03 628.46
April 4150 10.57 347.35 347.35 281.11
Website 500 11.11 45 45 236.11
April-Community Reward 750* 5.21 38.75 38.75 197.36
May-Tips - - 60 60 137.36

Right now, the DAO has 137.36 $NEAR tokens equivalent to $716.12 with NEARUSD: 5.21

To cover the pending rewards, we need $4799.
Sharing below the expenses sheet.

Month Pending Amount Remark
March 0 -
April-Community Rewards 449 Rewards are pending to be distributed
May 4150 All the Guild Activity without the tips
May RU Community 200 Started in May

Total: 449 + 4150 + 200 = $4799
DAO Treasury: $716.12

Requested Amount to cover previous expenses: 4799 - 716.12 = $4082.22

Reports

March: [Approved] NEAR MEME DAILY [March+April+May] Funding
April: [Report][April] NEAR MEME DAILY
May: [Report][May] NEAR MEME DAILY

June Month Adv. Request

Old Guild Budget: 4850
New RU Community Budget: 300
Instagram: 200
Total = $5350

Reward Request
March + April + May (Pending): 4082.22 (Not Receiving due to our failure to convert NEAR into Stable coin)
June (Adv) : 5350

Total: $5350

Tag: @marketingdao-council

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Happy to support. Have a great day.

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Can rest of the @marketingdao-council review and share their feedback please?

Thanks!

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Also happy to support

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Thanks for support sir :hugs:

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Hoping @marketingdao-council will review our proposal :hugs: , your feedback is value with us. Thank you for advance support team marketing :hugs:

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Hey @naveen_in – can you help me understand what the current request is for – your chart shows funding for March, April, May as received – what is the pending reward for those same months under June Adv Request? If you are requesting additional funding for past activities that have already been funding, can you explain the request? Thanks!

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Hey @so608

Yes, this covers our previous months pending rewards($ 4082) along with the June Month Advance Request ($ 5350)
Previous Month Activities to be rewarded.

We are requesting for the additional funding of past activities because

  1. Our DAO Treasury got reduced due to price change ( We received the funds with NEARUSDT: $16.23 and now it is $3.49 over the period of three months. At the time of writing the proposal it was $5.21.
  2. We have started MEME DAILY Russia for which we have never claimed the funds in past.
    For reference I am sharing the reward breakup we had claimed for India, Vietnam and Spanish Community earlier.
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Hey @marketingdao-council kindly go through our request.

We have already received the support of 2 Marketing DAO Councils.

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Good day @marketingdao-council , we know that tagging you so much is quite irritating but can someone atleast attend NMD proposal. We really valued your feedback please.?

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I’m glad to be back of this amazing community…NMD is amazing!

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the second month is coming , as NMD admins are sitting without a salary )
Of course , we are crypto enthusiasts , but you can 't explain it to an Internet provider :grin:

Hi Naveen,

I am unable to support this proposal as we are basically paying for the same work twice.

The NEAR Foundation has implemented measures to prevent this situation from arising:

  1. Proposals are made in USD and either paid out in NEAR at the exchange rate of the day; or
  2. You are able to request payout in a range of stablecoins

Once a project receives the funds, ensuring the money is used as intended is solely the responsibility of the project. This includes making the necessary swaps to hedge against volatility.

It would be irrational to expect the community fund to absorb any losses while not getting any benefits from capital appreciation. Covering these losses would deter people from doig what they are meant to (deploys USD equivalent of funds) to maximise personal gain and at maximum liability to the DAO.

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Its not only salary will affects. All funding related for rewards will affects , even so all delaying related cost of NMD collaborations will affects too. Not only that but also in Astro dao funds. The more delay the more our funds will be less because of price fluctuation… i hope they can see that situation going in here.

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Hi Councils (@so608 and @Klint)!

  • Kindly share your vote. We need 1 Vote for the approval and 2 Votes for the rejection.
  • Having a decision on this proposal will give us more clarity to move forward with the MEME DAILY guild activities.
  • I do accept the mistake for keeping our funds in $NEAR tokens rather than stable coins. As it was
    – the first time to receive the funds in advance for the upcoming months and
    – our meme activities are supported by rewarding daily tips in $NEAR
    were the reasons none of the member in our Team thought in that direction.
  • Last time I have supported the MEME DAILY activities for 3 Months (November-2021 to January-2022) from my personal funds before receiving the funds of November proposal at the end of January month.
    [Approved] NEAR MEME DAILY November Month Expense
  • This time it is going to be difficult for me to keep the momentum we have set. Right now we have 85.3K Impressions with 35K Account visits on MEME Daily Twitter for the past 28 days analytics.

Thanks

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Hi Naveen,

We’ve discussed this case during today’s Council meeting. We are willing to approve the proposal just for the June amount 5350. Unfortunately we are not able to proceed with the retroactive pay for pay differential.

Let us know if this is an acceptable offer so we can proceed.

Also be mindful that we are in the process of reviewing our criteria and process for distributing community funds. We are encouraging all projects to diversify on sources of revenue where possible.

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https://app.astrodao.com/dao/meme-daily-services.sputnik-dao.near/proposals/meme-daily-services.sputnik-dao.near-50

We are ready to accept the proposed amount of June Month. Revising the proposal amount to 5350.

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The proposal has been revised. Kindly reconsider it.

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Moving this to approved – thanks for revising the proposal. You can submit to Astro.

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