S17 - FDD Budget Request

FDD is requesting $123,694* from the treasury to complete a budget of $340,314 for S17. A breakdown of the budget & deliverables can be found at the link to the proposal.

Option 1 = Yes, fund FDD Season 17 budget & support the dissolution effort to transition FDD contributors & wind down the workstream

Option 2: No, do not fund Season 17. Wind down & transitions begin asap and no expectation of deliverables is made for FDD in Season 17

Option 3: Abstain

Overview

Gitcoin Season Season 15 Season 16 Season 17 Season Budget $349,500 $349,500 $340,314 Season Reserves $233,000 $172,615 $216,620 1* Unspent Reserves % 100% 100% 100% Treasury Request USD $362,500 $409,885 $123,694 2**

• FDD received $233,000 in reserves which were requested at a GTC price of $1.65 in S15. These were received in January at a GTC price of $1.37 making the received total of $193,461. 60% was converted to stables ($116,077) leaving a 40% exposure of GTC to upward price movement from $1.37 to $1.78 ($77,384 to $100,543) leaving a total of $216,620 in unspent reserves

** Since FDD intends to dissolve as a workstream, we will request the full season budget less 100% rolled over reserves from S16. The amount of GTC requested and the value of the reserves will be adjusted based on the current market value at the time this proposal is moved to Tally using the lower of the current price or the 20 day moving average, whichever is lower.