Executable EGP 24 - GTF Budget Extension

Specifications

As voted and given the fluctuations of the NEXT price we are resubmitting the executable proposal requesting a budget extension for the GTF in order to upfront compensations for the remainder of the mandate. The resubmission is based on the failed Executable EGP 23 - GTF Budget Extension which, due to oSnap implementation, ended up being rejected by having considered “Abstain” as part of the outcome calculation and therefore failing to reach the required favourable 50%.

Again, used funds correspond to team member compensations of all three positions of the GTF which have been fulfilling their roles to the utmost of their capacity. A final report with details of the GTF actions is in the works but we expect our contributions to be visible on a day-to-day basis. You can also check our homepage and communication thread to go through our activity and updates.

Budget wise, payments and info is reflected on the multisig tracksheet but the breakdown is as follows:

• 190,500 NEXT (24,000 USD) have been spent for the Aug - Nov compensations
• 123,647 NEXT (12,000 USD at 7-day VWAP from Coingecko - $0.097) are to be spent up until Jan.
• 23,645 NEXT are left in the multisig.
• 100,002 NEXT + 500 USD Opex fund (5,154.64 NEXT) is the gap to be requested

Although the original GTF creation proposal included a 20% buffer to address this situation, it ended up falling short to secure the operational expenses of the GTF due to the abrupt changes of the token price. It is worth mentioning that the buffer is contemplated within this request.

In order to avoid yet another resubmission, we will additionally request a 50% buffer which will return to the DAO treasury if unused, ending up in a total of 155,157 NEXT to be requested, including as well as a 500 USD fund (to be converted to ETH) for opex such as paying gas and setting up vestings in the several multisigs we manage. Funds will be sent to the current GTF Budget Multisig.

Overall Cost

155,157 NEXT