Proposal “DCG-COMP-SUPPLEMENTAL-MAY-23“ (Completed)Back
| Title: | Dash Core Group May Supplemental Funding Proposal |
| Owner: | quantumexplorer |
| One-time payment: | 880 DASH (31711 USD) |
| Completed payments: | 1 totaling in 880 DASH (0 month remaining) |
| Payment start/end: | 2023-05-12 / 2023-06-10 (added on 2023-05-14) |
| Votes: | 465 Yes / 37 No / 42 Abstain |
Proposal description
Dash Core Group May 27th Supplemental Funding Proposal
DCG already submitted 1 funding proposals for the budget cycle that pays out May 27th. This is a supplemental proposal that will fund Dash Core Group with an additional 880 Dash:
1) DCG Compensation: 2,296 Dash per month (currently in month 3/3)
2) DCG Compensation Supplemental: 880 Dash (currently in month 1/1)
What does this specific proposal fund?
Assuming DCG’s current compensation proposal passes, with the price of Dash at $41, our funding for compensation will represent a significant gap from our actual compensation expense. This proposal will look to reduce some of the gap between our compensation revenue and our compensation expense.
Did DCG reduce staff?
Seven months ago we reduced our compensated team size by about 15%, lowering our break-even price from ~$120/Dash to ~$103/Dash. It has since lowered to ~$93/Dash due to additional departures and cost cutting measures. Our compensation reserve now sits slightly around 2.5 months (if no additional funds - and around 5 months considering current level of funding).
Where is the infrastructure proposal?
As it currently stands infrastructure is well funded for the upcoming few months. The vast majority of our expenses are going towards compensating employees and contractors, most of whom are developers. Which is why we are making this proposal.
Do you plan on more layoffs in the near future?
While we were hoping not have to make additional layoffs, it is looking increasingly likely we will need to slightly reduce our overall expenses. If or when this event occurs it will be communicated in the following proposal.
How much of an impact do the supplemental proposals have?
A big impact. The supplemental proposals leave us in a much better state to hold off being forced to cut vital employees as the bear market lasts longer. In the case that the bear market does not last as long the funds can then be used to increase capacity and get a lot of extra manpower behind future features.
If you have any questions, please direct them to @quantumexplorer at dashcentral to ensure we are notified of your request.
Requested funding is as follows for the May 27th superblock:
DCG already submitted 1 funding proposals for the budget cycle that pays out May 27th. This is a supplemental proposal that will fund Dash Core Group with an additional 880 Dash:
1) DCG Compensation: 2,296 Dash per month (currently in month 3/3)
2) DCG Compensation Supplemental: 880 Dash (currently in month 1/1)
What does this specific proposal fund?
Assuming DCG’s current compensation proposal passes, with the price of Dash at $41, our funding for compensation will represent a significant gap from our actual compensation expense. This proposal will look to reduce some of the gap between our compensation revenue and our compensation expense.
Did DCG reduce staff?
Seven months ago we reduced our compensated team size by about 15%, lowering our break-even price from ~$120/Dash to ~$103/Dash. It has since lowered to ~$93/Dash due to additional departures and cost cutting measures. Our compensation reserve now sits slightly around 2.5 months (if no additional funds - and around 5 months considering current level of funding).
Where is the infrastructure proposal?
As it currently stands infrastructure is well funded for the upcoming few months. The vast majority of our expenses are going towards compensating employees and contractors, most of whom are developers. Which is why we are making this proposal.
Do you plan on more layoffs in the near future?
While we were hoping not have to make additional layoffs, it is looking increasingly likely we will need to slightly reduce our overall expenses. If or when this event occurs it will be communicated in the following proposal.
How much of an impact do the supplemental proposals have?
A big impact. The supplemental proposals leave us in a much better state to hold off being forced to cut vital employees as the bear market lasts longer. In the case that the bear market does not last as long the funds can then be used to increase capacity and get a lot of extra manpower behind future features.
If you have any questions, please direct them to @quantumexplorer at dashcentral to ensure we are notified of your request.
Requested funding is as follows for the May 27th superblock:
- 879 Dash ($36,039 USD @ $41 per Dash)
- 1 Dash Proposal fee reimbursement
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Discussion: Should we fund this proposal?
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I know that not much is left but still...
Things like this one is encouraging though. Good job!
https://www.dash.org/blog/dash-core-group-release-announcement-dash-platform-v0-24-on-testnet/
I'll vote yes yet.
The pain will continue while DCG cowardly points it's finger at "the bear market" instead of finally taking some responsibility for the price.
Stop paying employees in fiat and let them sell to fiat at their own discretion. Maybe give them a bonus if they don't move their dash salary for X months.
Cut your losses now instead of foolishly hoping the market will bounce back in time. Pride is killing you.