Leagues budget M1-2022

Dear Idle DAO,

Below you can find a summary of the Leagues’ budget for Mandate 1 of 2022 (M1-2022) spanning from January to March 2022.

The budget will be used to pay for Leagues members contributions (Rewards) and to cover the operational costs of the three Idle Leagues (Operations).

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Leagues member contributions
The Reward category includes the monthly payroll consisting of both stablecoins ($USDC) and $IDLE tokens.

  • Communication League: 2 contributors and 3 advisors.
  • Development League: 3 contributors.
  • Treasury League: 6 contributors and 5 advisors.

The $IDLE bonuses for M1-2021 and the last mandate ones will fall in this category, as well.

Leagues operations
The Operations category includes the mandate’s budget to cover Leagues operative costs in $USDC, Ethereum and $IDLE.

  • Communication League: budget to cover partnerships with media outlets and marketing campaigns.
  • Development League: budget to cover for hackathons funding and IIPs/strategies deployments.
  • Treasury League: budget to cover gas costs and LP programs funding.

The overall grand total can be split as follows:

  • $109k worth of $IDLE will be transferred from the Ecosystem fund.
  • $138k of $USDC and Ethereum will be transferred from the Fee treasury.

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Additionally, all the funds remaining from 2021 in the Treasury League multisig wallet (~$30k after December payroll) will contribute to the mandate stablecoin funding, resulting in a net budget need of ~$108k.

:arrow_right: The complete M1-2022 budget file is accessible at this link.

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*please note that the reported token amounts are subject to price fluctuations, hence their amounts could change at the time of funds transfer. The prices shown are quotes from December 17th, 2021.

Snapshot vote

In 24 hours, we will open the Snapshot polls to gather community votes.

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Snapshot vote

:writing_hand: Please share your preferences below:

  • FOR Leagues M1-2022 budget allocation.
  • AGAINST Leagues M1-2022 budget allocation.

:arrow_right: Leagues budget M1-2022 (Idle holders): HERE

:arrow_right: Leagues budget M1-2022 (Idle stakers): HERE

:alarm_clock: Both snapshots will last 3 days, until 2021-12-17T23:00:00Z2021-12-21T10:00:00Z.

The final $IDLE voting weights will be calculated using the approved framework.

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Idle Community voted for the Leagues M1-2022 budget allocation proposed.

Funds will be transferred to Leagues multisig in the next IIP.

6 Likes