SIP-3 [Resubmitted]: Initial Budget for the DAO

Council recommendation: Positive 🙂

What

This SIP (Sandbox Improvement Proposal) introduces and proposes for approval an initial budget for The Sandbox Decentralized Autonomous Organization (The Sandbox DAO) of 15,500,000 SAND for expenses through December 31, 2025.

Holders of SAND and LAND tokens may vote:

• Yes - Approve this SIP
• No - Reject this SIP
• Abstain - Cannot decide

Why

This budget will be used to run the DAO’s basic operations, and provide for SAND to be allocated by the community through vote.

Who

The authors of this SIP are Arasakio and The Sandbox.

SIP Details

The budget will be breakdown into the following categories (in SAND)

Operations:

- 1,800,000 SAND
- *This will be used to run the DAO operations, pay Special Council members, maintain the DAO’s tech stack, pay for required Foundation governance and legal services, pay for the various compliance, wallets, payment and banking services, among other operational expenses as required.*
- This will be managed by the administrative service provider.

Staking:

- 900,000 SAND
- *SAND and LAND staking rewards*
- This will be spent automatically to rewards for staking SAND and LAND tokens, when applicable

LiveOps:

- 3,000,000 SAND
- *This will be used for campaigns to buy back LAND to ensure productive use in The Sandbox ecosystem, LAND rewards, LiveOps rewards and rewards for Avatar holders, among other related items.*
- The administrator and The Sandbox will have authority to spend these amounts at their discretion.

Content:

- 2,500,000 SAND
- *This will be used to reward streamers, pay for Game Jam/VoxEdit contest rewards, Game Maker Fund grants, re-activation of certain NFT collections, among other purposes.*

Sandbox for Good:

- 600,000 SAND
- *This will be used to fund charitable and other community-focused donations or investments.*

SAND Initiatives:

- 3,600,000 SAND
- *This will be used to pay for a Sandbox ambassador program, creator days, crypto training (education for SAND owners), promote of SAND token to 3rd party ecosystems, research, among other SAND-related initiatives.*

NFT:

- 100,000 SAND
- *This will be used to buy NFT collections and for expenses associated with managing the DAO’s existing NFTs.*

Platform:

- 600,000 SAND
- *This will be used to pay for cybersecurity review and updates, finance tokenomics ecosystem features, quality assurance testing, bug bounty, and content moderation, among other related initiatives.*

Other:

- 2,400,000 SAND

TOTAL: 15,500,000 SAND

Expenses that the DAO incurs will be tracked and made visible on its website for transparency.

Voting Options

• Yes - Approve the budget
• No - Reject the budget
• Abstain - Cannot decide

Voting Period: 14 days

APPENDIX

• Author: Arasakio and The Sandbox.
• Snapshot: https://snapshot.org/#/sandboxdao.eth
• DAO’s website: https://www.sandboxdao.com/