Given the fluctuation and the fact that some proposals go over various months the council has decided on converting the december budget into nDAI to be able to guarantee the promised funding amounts to all participants.
The funds will be sent from the DAO to the muticollective.near wallet, converted via ref fincance, sent back to the wallet and then back to the DAO.
Overall budget needed for December: 5125 USD / 560 N
We were asking ourselves if we could do this also, so we wont lost the usd for the variantions. We will make a proposal like this and do the changes. Thank you for this !
muti has been growing not only in the NEAR universe but also in the physical world. We are thankful that we have been embraced by NEAR and all it’s possibilities and to see how much we have achieved since the beginning of the DAO.
We received a prize of 156.25N (SputnikDAO) at the time as an honourable mention for this idea. This amount is not related to any funding proposal and has, since the time of receiving it, kept in the treasury of the DAO to be used when the time comes.
In order to keep on growing and following the path we had envisioned from the beginning, given the upcoming changes regarding liability and the need for a physical entity (such as an association or cooperative) as well as self sufficiency, the DAO has decided to use the funds from the Hackathon for exactly that. In the next year the DAO will need to cover costs for legal consultancy, invest in gear so that physical events can be organized more easily and funds can be used for artists instead of rentals. Therefore we request the payout of 156,25N to the muticollective.near wallet, so they can be used for those matters.
*All funds which we have been received after through the other verticals such as Creatives, Marketing or the City Node have always been used for the projects that they have been requested for and all reports have been delivered to keep transparency up.
We’re looking forward to many more projects & possibilities to support creatives while blending the digital with the physical world
The Dao still has N from the November budget which have not been claimed yet due to delays in the projects. In order to be fair for all participants who request funding, as we now use DAI for payouts, we will convert the N into DAI
January: Creatives Budget 310N/ 5000 USD at the time.
Due to a delay in the payout, the conversion to DAI got 4741 USD, the remaining will be paid out from the DAOs wallet to guarantee the promised values to all artists. NEAR Explorer | Transaction
