RIP-21: Redacted v2 Budget Proposal

As per the v2 RFF, when v2 tokenomics launch (estimated to be at the end of June), the DAO Reserves, which are used to pay for the DAO’s operational expenses, would be funded by a 15% revenue share and BTRFLY emissions.

The severity of the current market situation has shown that the DAO Reserves may not be able to cover the DAO’s current operational expenses despite cost-cutting.

In order to support the continued development of Redacted’s product suite, including some exciting new products related to our fat protocol infrastructure thesis, we propose a budget for salary compensation and other DAO expenses for June - November 2022 of $1.122 million increasing to up to $1.266 million if and when we hire new developers, and a budget of $150k for audit fees.

During this period, this budget would be fully funded by the stablecoins in the treasury and the DAO Reserves will receive no protocol revenue share, with its share being redirected to rlBTRFLY holders.