[Writers Guild] April funding and payout questions

Creatives
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Dear Creatives DAO moderators,
@hevertonharieno @FritzWorm @ted.iv @Monish016 @adrianseneca

I’m writing in the name of the Writer’s Guild Council to share some troubles and questions we’re having related to last month’s funding. We already discussed, had some ideas but, after all, we decided to reach you to ask for support to better understand some process to avoid this kind of trouble in the next months.

Long story short: with the big fluctuation we had in April (with Near ranging from 11 to almost 18 USD), even changing part of our funds to DAI to make first half payouts of proposals, we’re out of funds to complete the later payouts.

At the moment of this writing, we have 1,627.36 USD (roughly 141N and 150 DAI) in our Astro wallet, but we still have 1,949 USD to make April payouts, which leaves us with a 322 USD deficit.

Trying to solve this, we had some thoughts and want to share them with you to find the best way to solve this.

  1. Someone suggested that the losses could be split either among the next month’s council members payout or the remaining projects, but this doesn’t look fair to me (personal opinion here), especially with the approved project. We could discount this value from May council members’ work payout, because, on a cold way of thinking, this was our fault and we should deal with it.

  2. Another suggestion is to use part of May funding to cover this deficit. We had less proposals for this month, so we are able to fund all of them, make the planned bounties, pay for some services we need and still bring our bills up to date — we just need to know if this is allowed.

To avoid this to happen again, we are thinking of fully converting our funds to DAI (or USN, when it’s available) when receiving them, so we don’t suffer from fluctuations like we did last month.

Here’s the links of our April report and May funding request.
Pending your advices, both can be modified.

Finally, I’d like to point out that May is our third month of activities and we’re learning as we move, but all council members are doing their best to help build our guild and the whole Near ecosystem.

We’re waiting to hear from you.

Best wishes,
Writer’s Guild Council

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Hi Writers Guild!

Thanks for opening up this conversation on the forum so others who may be struggling with related issues can also find support here.

I am sorry to hear about the loss of funds, it has happened to a lot of folks and is an inevitable occurrence when operating within the volatile crypto world. I believe getting paid with stable coin will definitely eliminate this issue for you! You can now ask NEAR Foundation to give payouts in stable coin as well :slight_smile:

  1. Because you are operating within this unpredictable realm, having an agreement with your team that coins may shift in value is advisable. There is also the potential of deciding on specific NEAR values for tasks rather than USD.

  2. Normally Creatives DAO does not pay retroactively for projects already completed. Since this is only $322 USD and you are still figuring out how to operate within the ecosystem, I personally would feel comfortable with you using some of your May budget for this. I will leave this open for the other moderators of @creativesdao-council to place their input.

As for your May Proposal, it will be addressed soon! We have a lot on our plates with new DAOs entering the Creatives community monthly so we doing our best to get to everyone in a timely manner.

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Thank you for sharing your experiences! This is our DAOs (Liberation Wellness DAO) first month operating in the NEAR ecosystem, and we have been wondering and discussing about the implications of working with market fluctuations. I hope you’re able to sort your funding out soon!

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hey @bagadefente

check the march proposal: [APPROVED] Writer's Guild Funding Proposal for March, 2022

I made sure, at the time, to tell people that once NF delivers the N, a conversion rate must be ‘fixed’. imho, only DAOs with a significant treasury can accept the cost of fluctuation and always pay in USD… Individuals must carry the losses (and the wins), never the DAO.

You can already request the monthly payout in stablecoins, that might help manage the month :wink:

abraço

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Hello mods,

Thanks for your quick and kindly replies, it’s good to see that we can really count on you when things got a little out of control =)

We decided to use stablecoins, at least until we’re more experienced with all that.

Once again thank you for your support :pray:
And have a nice week!

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How can I do this? Spiritual DAO always had received NF funds in NEAR

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check the payouts topic that the moderators always provide when a proposal is approved.

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perfect, i will do that <3
thank you very much

1 Like