Summary

This proposal covers accrued expenses for August. For a more detailed overview of the August spends please see this spreadsheet.

Important to note: A proposal is forthcoming that will seek to shift FT and PT contributors to a more predictable payroll which will eliminate the uncertainty around fluctuations in compensation due to token price.

Expense Categories

• Contributor Payments: payments to staff and contributor teams including staff, product, marketing, editorial, treasury, membership, and governance.

• Admin Expenses: Admin expenses such as payments for Notion, Zapier, Airtable, Zoom, and Gmail.

• Events: Events such as FWB coffee time, FWB health time, food with beverage, Seed Club event, FWB radio time, FWB Stonks.

August Actual Expenses

Overall Expenses

Category	FWB	USDC	Total USD
Contributor Payments	1,990	42,950	$356,088
Admin Expenses	175	446	$28,586
Merch	100	0	$16,080
Events	300	1,000	$49,240
Total	2,515	45,646	$449,994

Contributor Payments

Category	FWB	USDC	Total USD
Staff	0	7,500	$7,500
Product	305	22,500	$71,544
Marketing	50	1,250	$9,290
Editorial	379.6	3,000	$64,040
Treasury	215	2,500	$35,772
Membership	640	2,500	$105,412
Community Management	0	$1,250	$1,250
Events	100	2,500	$17,330
Total	1,690	40,450	$312,138

Budget Notes

• Our August budget was estimated at the USD equivalent of $56,000 on July 28th. Actual spend was the USD equivalent of $86,000 based on the July 28th token value.

• Areas of overage: Membership: The membership contributor pool was inadvertently excluded from the August budget. Membership: A missed payment for the Team Lead from June. Events: A new initiative to explore future IRL events for FWB members. Product: An invoice from an outside partner paid on an irregular schedule.

• Moving forward a new protocol will be in place working closely with the team leads and community to deliver a more accurate budget estimate.

Conclusion

August’s actual expenses add up to 2,515 FWB and $46,646 USDC. According to the FWB Pro price as of August 28, this is $449,994.

Important to note: At the end of July when the August budget was created $FWB was trading for $15.82 per token. The discrepancy in the USD equivalent total is due to the token increasing in value at an unanticipated rate. Over the next few months we aim to build more reliable budget models relying on USDC as the core compensation for full time and part time contributors.

Vote

Yes - Distribute July actual expenses and approve August budget No - Do not distribute July actual expenses and do not approve August budget