CoW DAO

Simple Summary

This proposal asks for 230’000 xDAI on Gnosis Chain to reimburse GnosisDAO for expenses made on behalf of CowDAO in March and April of this year.

Longer summary

The Cow Protocol team successfully spun off from Gnosis in February, starting its own operating activities on 1. March 2022, servicing the CowDAO. The team successfully asked for the first installment of the raised funding that was set aside for the continued development of the Cow Suite in this Service Agreement Proposal (CIP-6).

Cow Services Lda, the Portuguese development company, needed to comply with bureaucratic hurdles to have a working bank account and take over contractual relationships for the team. Operations are now fully functional.

Temporarily and in the meantime, Gnosis kindly continued to accrue (some) expenses during March and April until the new set-up was achieved. Other expenses were postponed or settled in USDC.

This proposal asks for direct reimbursement between the two DAOs.

Of course, funding obtained to benefit Cow Services LDA as part of the CIP-6 will continue to be spent with this intention and anything not spent in March and April will be used to service the CowDAO.

Once operations run their normal course and Cow Services LDA well into operations, a summary of funds spent by the development company for the CowDAO community will be shared; rather than doing this only when funds are requested, we envision this half-yearly with the first report in September - including non budgeted costs such as a solver bond. This report, however, is outside of the scope of this CIP.

Accrued funds

The funds to be reimbursed to GnosisDAO for March and April are summarized as follows:

13 core contributors - 198k DAI Travel for contractors (to EthAmsterdam and company-wide off-site in Portugal) - 9k DAI EthAmsterdam hosted event - 6k DAI Software Subscriptions - 6k kDAI ETHcc Sponsorship package & tickets - 11k DAI