OIP-155: 2024 Budget Proposal

Summary

Following the effective execution of OIP-148, the DAO presents the subsequent framework for budget and ongoing operations.

Motivation

From its inception, OHM’s vision has revolved around being a decentralized, automated, and fully autonomous currency. Over the last 6 months, the DAO has dedicated substantial effort to implement Cooler Loans, OCA, RBS Upgrades, Cross-chain Bridge Support, OCG, and work towards decentralized front-ends, nearing the goal of protocol automation.

While the protocol is focused on autonomous operation, there are particular components essential for improving user interaction, which still require monitoring and financial support.

Additionally, there are several projects that have shifted or been created since the inception of OIP-148:

1. Decentralized Front Ends
2. RBS Tuning
3. On Chain Governance Phases

During this transition to OCG, additional projects that impact scope, such as the Blueberry Proposal, may cause delays.

It's important to consider that the approved 2023 budget was executed with a savings of 15%, or $817k, due to the continued successful implementation of efficient and cost control measures. This 2024 budget is based on estimations using the best available information expected for 2024. We estimate that 2024 budget impact in liquid backing will be between 0.03 and 0.04.

Proposal

The following budget is proposed to carry development through the end of January 2025, unused funds shall be returned to the DAO wallet.

Subscriptions and Other Operational Costs

The below list contains rough examples after each item. These are not all encompassing and are subject to change.

1. Monitoring and Maintenance Bug Bounty Monitoring, Forum Maintenance, Cooler Maintenance, Front-End (FE) Operations Checks
2. Platform Management GitHub, Docs, dApp
3. Legal and Governance Legal Expenses, Governance Monitoring
4. Communication and Coordination Discord, Emergency Management Systems, Emergency Response*
5. Risk Management and Analysis RBS Monitoring, Treasury DSR Interaction Monitor
6. Content and Management Fleek, GoogleCloud, Notion, etc
7. Social Media and Public Relations Twitter Management, Consolidation of Other Media
8. Treasury Management Consolidation Plans and Schedule

*Emergency Response refers to necessary remediation for emergent issues that may arise. The Emergency Multisig is a separate function, and is not compensated for this contribution.

Variable expenses that are not included in the above projections, but are within the purview of the association are:

1. Immunefi Bug Bounty Payouts + fees (fees are dependent on payouts)
2. Unforeseen Legal Expenses
3. Audits, given scope and development

Variable expenses that are not included in the above projections, and require approval:

1. Specific bounties to grow the protocol (Separate request)
2. Services from 3rd party contractors (Separate request)

The resulting budget of $888,000 is around 15% of the 2023 Budget of $5,980,000. Showing ongoing reduction and consolidation of efforts.