Proposal “DCG-SUPPLEMENTAL-APR23“ (Completed)Back
| Title: | Dash Core Group April Supplemental Funding Proposal |
| Owner: | quantumexplorer |
| One-time payment: | 230 DASH (7125 USD) |
| Completed payments: | 1 totaling in 230 DASH (0 month remaining) |
| Payment start/end: | 2023-04-11 / 2023-05-11 (added on 2023-04-17) |
| Votes: | 504 Yes / 91 No / 15 Abstain |
Proposal description
Dash Core Group April 26th Supplemental Funding Proposal
DCG already submitted 2 funding proposals for the budget cycle that pays out April 26th. This is a supplemental proposal that will fund Dash Core Group with an additional 230 Dash:
1) DCG Compensation: 2,296 Dash per month (currently in month 2/3)
2) DCG Infrastructure: 459 Dash (currently in month 2/2)
3) DCG Compensation Supplemental: 230 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 $58, 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 3 months (if no additional funds - and around 7 months considering current level of funding).
Do you plan on more layoffs in the near future?
Dash Core Group is now mostly a technical organization with most of our business development and marketing staff having exited the project. The remaining staff is essential to us functioning at a high level. We have no plans to revisit further reducing our staffing in the next month.
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.
Didn’t DCG previously communicate they wouldn’t request over 60% of the total proposal system budget?
Yes. In the past, Ryan Taylor, previously CEO of Dash Core Group, made a commitment to the Dash network that DCG’s monthly ask would never exceed 60% of the total budget. This was stated after there was significant backlash against DCG requesting funding for tax-related expenses in late 2018, which caused competing proposals to be pushed off the funding list. In this cycle, the same situation is not present; no other proposals would be negatively affected by this request for supplemental funds. It therefore seems to be in the best interest of the project to remove the self-imposed 60% limit, as not doing so would effectively hurt us by having to let go of people that are providing value to the project.
Samuel Westrich (Quantum Explorer) had reached out to the Dash Trust Protectors four months ago and asked whether they would support DCG making a proposal for the rest of the available treasury this month. All responses from the Trust Protectors had come back with support for the supplemental proposal. Given this indication of support, we decided to move forward and have masternode owners vote on these supplemental proposals every month for unused treasury funds.We will continue making such supplemental proposals in the case of unused treasury funds - waiting around one week before the end of each cycle to leave time for other submissions.
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 April 26th superblock:
DCG already submitted 2 funding proposals for the budget cycle that pays out April 26th. This is a supplemental proposal that will fund Dash Core Group with an additional 230 Dash:
1) DCG Compensation: 2,296 Dash per month (currently in month 2/3)
2) DCG Infrastructure: 459 Dash (currently in month 2/2)
3) DCG Compensation Supplemental: 230 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 $58, 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 3 months (if no additional funds - and around 7 months considering current level of funding).
Do you plan on more layoffs in the near future?
Dash Core Group is now mostly a technical organization with most of our business development and marketing staff having exited the project. The remaining staff is essential to us functioning at a high level. We have no plans to revisit further reducing our staffing in the next month.
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.
Didn’t DCG previously communicate they wouldn’t request over 60% of the total proposal system budget?
Yes. In the past, Ryan Taylor, previously CEO of Dash Core Group, made a commitment to the Dash network that DCG’s monthly ask would never exceed 60% of the total budget. This was stated after there was significant backlash against DCG requesting funding for tax-related expenses in late 2018, which caused competing proposals to be pushed off the funding list. In this cycle, the same situation is not present; no other proposals would be negatively affected by this request for supplemental funds. It therefore seems to be in the best interest of the project to remove the self-imposed 60% limit, as not doing so would effectively hurt us by having to let go of people that are providing value to the project.
Samuel Westrich (Quantum Explorer) had reached out to the Dash Trust Protectors four months ago and asked whether they would support DCG making a proposal for the rest of the available treasury this month. All responses from the Trust Protectors had come back with support for the supplemental proposal. Given this indication of support, we decided to move forward and have masternode owners vote on these supplemental proposals every month for unused treasury funds.We will continue making such supplemental proposals in the case of unused treasury funds - waiting around one week before the end of each cycle to leave time for other submissions.
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 April 26th superblock:
- 229 Dash ($13,282 USD @ $58 per Dash)
- 1 Dash Proposal fee reimbursement
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Discussion: Should we fund this proposal?
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Seriously, how can someone code the register_hpmn command, without the protx in front ?
(https://github.com/dashpay/platform/pull/959).
And why is shuplenkov making so many fix(dashamte) pull requests, without someone informing him that he is misspelling dashmate ? At least he is very consistently misspelling it, but someone should have informed him about this already.
But my main concern is about the status of Dashmate and the sheer number of fixes that are (still) required to make Dashmate bug free for Mainnet usage (after v19 activates).
One thing to note though, you will not need Dashmate to run Platform and a HPMN, it is instead an app that makes MNO lives easier so you don't have to follow more complicated guides.
Now that the SEC has it's eyes on dash and specifically DCG. And given how dash is "self-sustaining". And given the huge legal war chest DCG built up over the years for such events... wait, you do have a fund for such legal expenses, right? Can't imagine DCG would just dismiss such possibilities out of hand.
But it's okay guys, when dash goes to $30 again, you can just lay off some more staff, ask for more supplemental and repeatedly tell everyone that dash is not a security. Not to say you're right or wrong, but to say I have confidence you have the means to defend yourselves, prepared as you are to explain how a new Proof of Stake chain called HPMNs would somehow be exempt from the SEC.