Proposal “DCG-SUPPLEMENTAL-OCT23“ (Completed)Back
| Title: | Dash Core Group October Supplemental Funding Proposal |
| Owner: | quantumexplorer |
| One-time payment: | 682 DASH (24597 USD) |
| Completed payments: | 1 totaling in 682 DASH (0 month remaining) |
| Payment start/end: | 2023-10-11 / 2023-11-10 (added on 2023-10-16) |
| Votes: | 513 Yes / 42 No / 0 Abstain |
Proposal description
Dash Core Group October 26th Supplemental Funding Proposal
DCG already submitted 1 funding proposals for the budget cycle that pays out October 26th. This is a supplemental proposal that will fund Dash Core Group with an additional 682 Dash:
1) DCG Compensation: 2,558 Dash per month (currently in month 2/3)
2) DCG Compensation Supplemental: 682 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 $26, 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.
How bad are things?
Development is continuing, and day to day operations are moving along. However financially speaking things have started to become pretty dire as we have made cuts in the organization that are far from ideal and are still soon going to run out of reserves. Our compensation reserve is now close to being dry. Frankly speaking either the reallocation must happen in December or the price of Dash must increase significantly or else we will not be able to pay all our developers in December and hence many will most likely leave the project. I urge people to vote on the proposal expediting the reallocation.
How did/will DCG reduce staff?
We have continuously reduced staff during this bear market. However last month, the board of DCG decided out of necessity to let go of some long time contributors to the project which reduces our head count by about 1/3rd. This included almost the entirety of the business development and marketing/communication parts of Dash Core Group. This was a painful decision and one that will come with downsides.
What other cost cutting measures have happened?
Many contributors in DCG have temporarily reduced their pay while continuing to work very hard, I would like to thank them for their commitment to the project in these less than favorable times.
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.
If you have any questions, please direct them to quantumexplorer at dashcentral.
Requested funding is as follows for the October 26th superblock:
DCG already submitted 1 funding proposals for the budget cycle that pays out October 26th. This is a supplemental proposal that will fund Dash Core Group with an additional 682 Dash:
1) DCG Compensation: 2,558 Dash per month (currently in month 2/3)
2) DCG Compensation Supplemental: 682 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 $26, 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.
How bad are things?
Development is continuing, and day to day operations are moving along. However financially speaking things have started to become pretty dire as we have made cuts in the organization that are far from ideal and are still soon going to run out of reserves. Our compensation reserve is now close to being dry. Frankly speaking either the reallocation must happen in December or the price of Dash must increase significantly or else we will not be able to pay all our developers in December and hence many will most likely leave the project. I urge people to vote on the proposal expediting the reallocation.
How did/will DCG reduce staff?
We have continuously reduced staff during this bear market. However last month, the board of DCG decided out of necessity to let go of some long time contributors to the project which reduces our head count by about 1/3rd. This included almost the entirety of the business development and marketing/communication parts of Dash Core Group. This was a painful decision and one that will come with downsides.
What other cost cutting measures have happened?
Many contributors in DCG have temporarily reduced their pay while continuing to work very hard, I would like to thank them for their commitment to the project in these less than favorable times.
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.
If you have any questions, please direct them to quantumexplorer at dashcentral.
Requested funding is as follows for the October 26th superblock:
- 681 Dash ($17,706 USD @ $26 per Dash)
- 1 Dash Proposal fee reimbursement
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Discussion: Should we fund this proposal?
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There is only one thing left for DCG to do : release Dash Core v20 to Mainnet as soon as possible, as it contains a hard fork that will need time to gather support among miners, and pray miners don't have a problem with it. For that, there will need to be a release candidate of Dash Core v20 on Testnet that is feature complete.
Unfortunetely Dash Core v20 is already showing the signs of delay (delay in v20 rc1 on testnet and there are still 'feat' pull requests popping up for v20 as well (https://github.com/dashpay/dash/pulls), so i doubt we will see v20 released mid november 2023, according Dash Core v20 release schedule (https://github.com/dashpay/dash/issues/5582).
This will only complicate things further for DCG, as the longer it takes for DCG to release v20 to Mainnet, the further away they get from actually receiving the benefits of the approved Treasury Reallocation 60-20-20 decision proposal.
Maybe it is time DCG start thinking about asking Masternode Whales for donations, in order to survive the next quarter, something kot mentioned before during the Treasury Reallocation 60-20-20 decision proposal discussions and that looks to have been ignored by DCG (overreliance on the Dash Treasury ?).
Also now that the survival runrate is still burning through DCG reserves, maybe it is time to start thinking about adjusting it to below a runrate of $125,000
Although three days ago i was referring to feat PRs for v20 that back then still needed attention (https://github.com/dashpay/dash/pull/5611 & https://github.com/dashpay/dash/pull/5612). Then there were the weeks of delay with regards to v20 rc1 and the hard feature freeze for v20 that was planned for many weeks later (1st of November). That all gave me doubt about seeing v20 actually released mid November.
If v20 is currently already effectively in a hard feature freeze and RC1 will be released next week and this all will not affect the timeline, then that is reassuring news.
quoting QE :
''Frankly speaking either the reallocation must happen in December or the price of Dash must increase significantly or else we will not be able to pay all our developers in December''