Balancer

Note: no on-chain execution is required by the DAO Multisig if this passes

**This proposal would only approve the following spending of BAL: **

A) 7,333 BAL (~$44K) retainer fee for our ecosystem legal advisor through the end of July. B) 440 BAL (~$2,640) April comp for our marketing contributor Chun Li.

In Orb’s 2022 funding proposal, we were approved to receive 398,527 BAL to be used for contributor compensation on a vesting basis (1 year cliff, 4 year vest). This amount was based on our projections for current (at the time of the proposal) and future contributors.

Since the funding proposal, Orb has parted ways with a few contributors and has cut back on its hiring plans. Because of this, we currently have 103,036 BAL that has been approved and not yet allocated.

At the same time, based on the desires of the community, Orb is working on shifting more of its contributor comp into BAL instead of fiat, to help the OpCo preserve the DAO’s stablecoin treasury. This requires Orb to be able to pay liquid BAL to contributors in lieu of stablecoin-based salaries.

For this reason, we are requesting permission to utilize the BAL that has been granted to Orb to compensate contributors in liquid form, rather than only in vested form.

For extra clarity, this proposal means stablecoin-based spend would decrease and the amount of USDC returned to the OpCo would increase. Being granted permission to utilize liquid BAL would enable us to propose new comp agreements to existing contributors that replace USDC with BAL. It also allows us to engage with new contributors on an all-BAL basis. We are not requesting to supplement existing contributor comp plans with additional BAL.

As we have done every month, we will continue to return USDC to the OpCo.

Orb’s BAL numbers:

• Total BAL approved in 2022: 398,527
• BAL allocated for current contributors’ vesting plans: 295,491
• BAL unallocated: 103,036