SNP-00009 - ETH to Dollar Conversion Policy for Prop 70

Concerning Prop Builder Payments we have recently discussed giving the proposer the option of converting ETH into a stable coin if they require payment in fiat or have fiat expenses. This is especially important when we have a milestone based payment structure. This was first implemented in Prop 73.

Concerning Props 56 & 70 the DAO did not provide clear options that would allow the Proposer to choose how the milestone payments were held while also enforcing milestone based payment. In a sense they were forced to take the market risk without clear guidance on possible options.

We approached this Prop with the idea that we would pay slightly above fair market value, 60K, to produce 6 cc0 story bibles.

TL:DR we need an additional ~38 ETH

Agreement: $60,000 (20 ETH) to create cc0 Story Bibles. $18,000 (6 ETH) paid upon start May 2, 2022 $6,800 (4ETH) paid to Person, Place, Things June 8, 2022

Balance in Gnosis: $127,700 USDC

Due to Creators: $42,000 is the balance due to 3 of 4 teams. $35,200 is due to Sam Ellis & Jason Schwarts / Person, Place, Thing Studios $161,200 = Total Due to 4 Teams Need Roughly ~40 ETH* (will send any ETH back after conversion to USDC)

*This Prop was designed for 6 teams, 1 of which was to be chosen from submissions. Another team, StudioDAO, ran into some issues with the creators and have agreed to bow out. We also had 10 ETH for legal which we won’t need as everyone left has agreed to CC0 for everything. We can re-route these funds to the remaining 4 teams.

Send 40ETH to 0x9667Ac39E7534c43Ca1A2a4a5BC4a6FFC2783458