Balancer

Please see Balancer’s forum for the full text - https://forum.balancer.fi/t/bip-20-funding-proposal-for-orb-collective/3359

Funding Request

Orb is requesting 12 months of funding starting August 1, 2022 and ending July 31, 2023. Since the Balancer DAO intends to pay service providers on a quarterly basis, we have structured our funding request in the following quarterly timeline:

3Q’22: $732,334 USDC [Aug- Sep '22]

4Q’22: $973,413 USDC [Oct- Dec '22]

1Q’23: $1,022,734 USDC [Jan- Mar '23]

2Q’23: $954,471 USDC [Apr- Jun '23]

3Q’23: $305,725 [Jul '23]

To ensure that our interests are aligned with the Balancer DAO and to affirm our commitment to the Balancer ecosystem, Orb will only hold exposure to BAL and stablecoins.

In the event that Orb is offboarded as a service provider during this 12 month period, we request a transition buffer of 3 months in which Orb receives its scheduled funding to ensure the completion of open projects and a smooth hand-off of processes and responsibilities. If offboarding occurs when there are less than 3 months remaining in the agreement, Orb would receive its full scheduled funding.

EDIT: Orb is going to be requesting BAL via a governance proposal to continue the grants that were promised by Balancer Labs to full-time team members. This BAL would be provided from the token incentive fund within Balancer Labs and would not cost the DAO any additional BAL.