Q4 2024 & Q1 2025 Budget Approval

As per SDIP-40, this is a Regular Proposal and has a Quorum to Pass of 50 SD NFTs and a Minimum Participation of 5 voters.

The Treasury Squad is requesting 23,999 USDC to top up the $25k discretionary funds as per SDIP-29.

This request is to top up expenses since the last budget passed in October 2024. The breakdown is as follows:

• Events: AB Weekend 2024, NFT Paris (Feb 2025), LA for [redacted], LACMA (Mar 2025): $18,033
• IT Tools: $2,253
• Legal: $1,760
• Video & Podcast editing: $1,000
• Merch: $953

APPROVE this proposal to allocate this funding to the Treasury Squad.

The following data is for reporting purposes on "SDGP-008: Treasury Management" & "SDGP-004 Treasury Management 2024".

Actions taken / Use of funds:

• $1M loan obtained at a 12% prorrata APR with a duration of 1 year. Debt-to-equity ratio at inception below 7%
• Swapped $1.25M for 440 ETH (average price: $2,843)
• Purchased 6 Squiggles for 32.8 ETH. Blacked Out #8361 sent to Permanent Collection. 4 pieces already sold for a 4.33 ETH profit (after royalties and fees)
• Repurchased 321 SD NFTs at an average price of 0.36 ETH