AIP-6: Operating Expenses Request

Since AIP-1 passed in April, the ARCx team requested $740,000 of USDC from the ARCx DAO for 6 months of operating expenses. Since then the team has used that money to:

1. Ship the DeFi Passport with now over 1000+ DeFi Passport holders;
2. Grow the ARCx team to over 10+ full time and ~5 contributors/part-time personnel (compared to just 6 people in total 6 months ago); and
3. Write the ARCUSD smart contracts with audits from Quantstamp.

In the coming 6 months we’re looking to:

1. Ship the credit score and ARCUSD;
2. Grow utility for the DeFi Passport through custom scores; and
3. Grow the team to ~16 full-time people while growing contributors/part-time personnel to ~7.

The Core Team would like to request funding from the ARCx DAO for the next 6 months of operational expenses:

• $1,350,000 for salaries for current and future team members and contractors;
• $50,000 in security, contract deployments and contract testing;
• $15,000 in operating expenses (hosting, infrastructure etc); and
• 2,000,000 ARCx for potential liquidity mining campaigns and other reward campaigns.

These funds will be paid after the vote passes on Snapshot and any remainder as of April 13 2022 will be either:

• Rolled into the next successful proposal for requesting funding; or
• Sent back to the Treasury if the following proposal fails.