OWS Fund Request [September]

Dear community,

I would like to give a short but clear overview of the OWS funds distribution and make a request for the month of September that equals 1,063 NEAR.

The following OWS needs have to be covered on a monthly basis. These include:

  • 1. Moderator pay: 4,800 USD

How did we arrive at this figure?

Based on the previous months Sandbox moderators have been rewarded 150N for 10h of commitment per week. Now that we are required to post our budget in USD first and then convert to $NEAR we have arrived at the figure of 800 USD (150NEAR was converted by the rate of the day I was informed about the change that was 1NEAR=5 USD ==> 150*5= 750. It was rounded up to 800 USD)

  • 2. Rolling rewards (standard tasks available for everyone each month): 30,000 USD

How did we arrive at this figure?

*Note: max amount has been limited to 300 USD per contributor for these tasks in order to allocate more budget to the project-requested tasks: 30,000 USD (as indicated below, in August OWS has approved 77 submissions. Assuming possible growth we assume a max of 100 submissions in September. Capped at 300 USD per contributor gives 30,000 USD. Should engagement grow faster than expected and cause more than 100 submissions, the OWS Treasury funds (=5000N) will cover it.

  • 3. Payouts to contributors working on requests of NEAR-based projects: 12,000 USD

How did we arrive at this figure?

Before the new payout system has been introduced, OWS acted under the premise of allocating up to 200 NEAR per project that needs support from the OWS. Again, by the rate of the day I was informed about the change (1NEAR= 5 USD) that was equivalent to 1000 USD. As of September, the OWS has shifted its focus from general reward opportunities to more targeted project work that we believe will better support the NEAR ecosystem with more focused actions from the Sandboxers as compared to free-floating initiatives captured by the rolling opportunities. To motivate projects come to us and deploy OWS funds, we raised the amount from 1000 USD to 1500 USD per project/per month while introducing a limit of 300 USD per contributor when it comes to the standard tasks. In this way, contributors are still encouraged to do small tasks from the standard rolling opportunities list and projects collaborating with OWS have more space to outsource their needs.

To sum up

This three elements sum up to 46,800 USD which should have been OWS initial request for September. Yet in August, OWS requested extra funds that have not been spent eventually: 9,213 NEAR on OWS DAO today. 5000 NEAR will be set apart for emergencies which leaves us with 4,213 NEAR available (equals 37,369 USD) to distribute in September. To come to the estimated amount of 46,800 USD, we are requesting an additional of 9,431 USD (46,800-37,369= 9,431) or 1,063 NEAR (converted by that rate of 19/09/21: 1NEAR= 8,87 USD).

Please let me know if any further clarification is desired.

Best,

Sofia

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Thank you @Sofia_Alum for your report and for explaining each line item. The work from managing and administrating the funding is well noticed and appreciated. The OWS team is doing a great job.

As for the Contributors, Iā€™m keen to see quality of the work increase and efforts to support more projects building on NEAR.

I love the concept of experimenting and exploring our ecosystem while earning rewards.

I would like to ask OWS contributors to be active users of apps and provide as much feedback as possible to the projects teams on their experience. It is the only way we will have awesome apps on NEAR that will break the internet!

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Dear @grace ,

Thank you for the constructive feedback, it is always useful to hear back and get new insights on the work we do.

I love the idea of providing feedback to dApps as a separate category, I will bring it to the table to brainstorm the best way to introduce this to contributors.

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