Lido DAO

The final standalone period for RCC funding, following on from Q2 2022, has begun on October 1, 2022 and will end on October 31, 2022. We are preparing the grounds for a final funding proposal as a followup to this post that will run the DAO as a whole starting on November 1, 2022. We will publish more details over the coming days.

Lido will be moving to a continuous funding model starting on November 1, 2022, which has created a 1 month gap for operations financed out of RCC. The following request will bridge the gap for operating expenses for the month of October (many expenses are due at the end of the month). A total of 50k LDO will be requested to cover September overdue LDO compensation and October LDO compensation.

This budget, on a monthly basis, is substantially larger than previous RCC asks for a few key reasons:

1. Deployment of marketing expenses in a busy month
2. Transfer of Audits and Bug Bounties from LEGO to RCC
3. Deployment of GCP and Github Funding
4. Contingency funding for operating expenses (not immediately drawn)

Details on the following link: https://research.lido.fi/t/rcc-3-october-1-2022-october-31-2022-budget-request/3055

Proposal Actions

• DAI 732,710 will be supplied to the RCC multisig wallet 0xDE06d17Db9295Fa8c4082D4f73Ff81592A3aC437 from the DAI treasury to allow the RCC to fulfill its operational needs
  • 235,543 DAI for headcount related expenses including base compensation and travel for 20 contributors
  • 497,167 DAI for operating expenses, of which
    • 267,833 DAI related to marketing expenditures
    • 165,000 DAI related to audits and bug bounties
    • 50,000 DAI related to software subscriptions
    • Remainder in other operating expenses
• LDO 50,311 will be supplied to the RCC multisig wallet 0xDE06d17Db9295Fa8c4082D4f73Ff81592A3aC437 from the LDO treasury for October and backdated LTI compensation
  • 10,310.34 LDO two months of vesting for one contributor (one month is overdue)
  • 40,000 LDO for a one-year vesting cliff for one contributor
• If requested, DAI 400k will be made available to the RCC multisig 0xDE06d17Db9295Fa8c4082D4f73Ff81592A3aC437from the DAI treasury in the event of threats to business continuity during the upcoming funding rounds
  • If not necessary, the DAI 400k will not be drawn at all
  • If drawn, unused funds will be returned before 31-Dec-2022