Community Fund Grant 2022

Community Fund Grant 2022

Hi everyone!

In 2021, 77,916 TORN was allocated to community fund.

  • (5% of the vested funds at this time - 22,916 TORN)
  • (5% of the funds to vest during 12 months from June 2021 to June 2022 - 55,000 TORN)

At that time, few expenses were incurred. Indeed, only 3 multisig signatories needed to be paid for their responsibilities.

Now, DAO expenses have increased.
For this reason, it is important to ensure that the community fund has the resources necessary for the protocol and the community to use it.

There are three types of expenses: one-time expenses, annual expenses and future expenses.

As of today, out of 67,000 TORN received by the multi-sig fund, 15,604 TORN have been spent.

One-time expenses:

= 3849 TORN

Annual expenses :

(1, 2, 3, 4) (Multisigs signers + Contributors)
= 13,800 TORN

Future expenses:

  • Recruitment campaign : This amount has not yet been spent (250 TORN).
  • Immunefi : This amount has not yet been spent (hopefully :sweat_smile:)
    The DAO has committed to pay up to $1.3 million in the event of a hack through Immunefi, which at the current price is approximately 27,000 TORN. This amount should be available to the DAO at all times imo.

= 27,250 TORN

Potential upcoming expenses:

This is what could be suggested in the future:

  • Expansion of the team with potential future recruitment (content, IT,…).
  • Marketing campaigns with influencers, video contents,… to push for staking and for more people to know how to use Tornado Cash and to understand the benefits of privacy.
  • Community & contributor incentives (working on that).

= ??? TORN

Snapshots are in progress, and if they are accepted, here are the expenses / amounts not usable by the DAO :

= 41,800 TORN

This would bring us to a total amount of expenses+locked funds for the year:
86,699 TORN (3849 + 13800 + 27250 + 25000 + 16800).

So I suggest the amount of 100,000 TORN, including 35,000 TORN at once and 65,000 TORN spread over 12 months (with Sablier). This should provide the community fund with enough reserves during 1 year.

If this proposal is voted, the amount corresponding to the critical Immunefi bounty will be continuously kept in the community fund.

I thank @Marty who will set up the governance proposal which will take place in 1 week. Until then, I would like to discuss this proposal with you guys!

4 Likes

Hello everyone!

Here is proposal source code for 100,000 TORN funding (35,000 TORN at once and 65,000 TORN spread over 12 months).

1 Like

is 1% of the total supply.

sounds good.

will vote for.

1 Like

https://tornadocash.eth.limo/governance/12

Go vote guys.

2 Likes

voted for, we need some more marketing campaigns. let’s moving forward dude