Snapshot Proposal - Budget Adjustment

Summary We’re proposing changes to the spend structure of the DAO given growth of the team, the team structure, and continued development of the project. AIP-133 was projected to have roughly a ~$14,500 monthly spend with revenue generated mainly by our UNIv3 strategy and staking.

We’re proposing an increased budget to a maximum of $20,000 a month to continue delivering top-tier Security education and building sustainability for the project, as well as some changes to compensation structures, transparency, and legitimizing the DAOs spending going forward. Any additional expenses outside of this structure will first need a proposal if not covered by the DAO’s proposed maximum $20,000/month proposed funds below.

Background Boring Security has been running for over 17+ months providing quality security education to the Web3 community for free, and partnered with over 50 communities with ~1500 Alumni, and over 500 of those have taken additional higher level courses with us!

The team of Boring Security is made of over 20 Contributors, including 2 full-time Community Managers, with Feld as an active Founder. Since July, Feld has been playing an even more hands-on and active role in Boring Security as he’s been dedicated to the DAO in a full-time capacity, pushing the boundaries of the DAO and integrating additional forms of funding such as grants, partnerships, and more. With this, we are adding Feld’s monthly salary, as well as our two community managers salaries, into the proposed budget.

Specifications Budget Adjustment This proposal intends to adjust Boring Security’s monthly budget. In AIP-133, the DAO was projected to be spending ~$14,500 USD wherein $11,000 is allocated for human resource expenses, and around $3,500 is used for tools, collabs, special projects etc. We are proposing to increase the monthly budget to a maximum $20,000. The increase is mainly driven by higher allocation to human resource expenses given more Contributors working at a full-time capacity.

Revised Compensation Structure for Contributors With the DAO operating with 3 full-time employees, referring now to them as the Boring Security Admin (aka Admin), the compensation structure for human resources will be shifting from a pure Coordinape based payment model, to a hybrid of direct payments for Full-time employees and core contributions via Wonderverse, and the use of Coordinape.

This shift means that there will be a fixed amount that corresponds to employee salaries, and payment for Core contributions such as teaching a class, posting Scam-alerts, doing 1-on-1s, and writing articles.

$220 per Class ($100/Contributor, or $200 if solo-class) $25 per 1on1 $10 per scam domain report or scam-alert $200 per article for the Main author

Support Contributions such as website updates, Discord support, Twitter Spaces appearances, graphics, article editing, etc, will continue to be compensated with Coordinape. The Admin will continue to track contributions, and will broadcast these to the Contributor team before Coordinape distribution, and Contributors will have the leeway to distribute the GIVES as they see fit.

A breakdown on details of the Boring Security Admin’s work scope and compensation, can be found in this document.

Proposed budget can be found here. Improved Visibility on Financials While the records and finances of the DAO are already visible on the blockchain, we intend to improve visibility on the expenses and financials of the DAO by having a dedicated part in the Boring Security website that the public can access to view our reports and documents.

Here is the current Boring Security Treasury report. Overall Cost The revised budget will cost roughly an additional $5,300 per month vs our current budget. The shift to a full-time dedication from Feld is expected to lead to the generation of additional income streams, as this will enable more focused efforts on grant applications, the establishment of strategic partnerships, and the exploration of other funding opportunities such as sponsorships or premium services.

This current budget, assuming no new income and the current value of the Treasury, is enough runway for Boring Security to operate another 7 months- but with the support of the community and the focus to bring more funding opportunities to the project, this can go on much longer.

Next Steps Should this Proposal be approved, the DAO will apply this payment structure to the current month of July. Feedback and suggestions for this proposal are more than welcome and can be posted at the #Feedback channel in the Boring Security Discord server.