New Order Incubation Budget Proposal

Overview New Order is seeking a $250K line of credit from the DAO treasury to fund operations for its incubated projects.

Motivation New Order’s mission is to incubate 10-15 quality DeFi projects per year and to build a robust treasury through the token allocations we receive from these projects. Our ultimate goal is to have a treasury which represents the most innovative DeFi protocols in the ecosystem creating value for NEWO token holders. The yield on these projects will be shared with NEWO holders through the upcoming veNEWO locking mechanic scheduled for June. In order to achieve this goal we must be able to provide the resources our incubated projects need to get to market. As it stands, we have several projects in the incubation pipeline that are in need of operational funding in order to continue development and ultimately launch. This line of credit would help cover these costs until we’re able to secure seed funding for these projects. This budget would also help us protect the intellectual property of our incubated projects until we’re ready to announce our engagement and have it voted on through the DAO.

Implementation Once this proposal and the subsequent Snapshot vote is approved, a $250K line of credit from the treasury in the form of USDC will be opened. This will be used to give our incubated projects interest free loans to cover operations until they secure seed funding. Upon closing a seed round, projects would fully reimburse the loan to replenish the line of credit which would then be available for future projects.

Full discussion here: https://commonwealth.im/new-order-dao/discussion/4884-new-order-incubation-budget-proposal