Q2 2024 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 20,119 USDC to top up the $25k discretionary funds as per SDIP-29 and discretion to sell or hold any airdrops received.

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

• Merch (Dorm DAO & Care packages): $986
• IT Tools: $2,014
• NFT Paris (travel, event, merch): $3,319
• NFT NYC (travel, event, merch): $8,978
• Website translation to Spanish and Mandarin: $400
• Legal: $2,133
• Charity Squiggle collab: $300
• Marfa travel expenses: $1,988

Additionally, we have received the Arcade airdrop (valued at $8.4k at the time of this writing) and qualify for a few more. The Treasury Squad is requesting discretion on whether to sell or hold these airdrops to avoid the need for governance on these small amounts. If approved, we will report periodically to the DAO regarding any tokens held on our Balance Sheet or any disposals.

APPROVE this proposal to allocate this funding to the Treasury Squad and authorize to sell or hold any airdrops received at their discretion.

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

SDGP-004 Treasury Management 2024

Approved Funds: 1,000,000 USDC. Treasury multi-sig holders authorized to obtain financing up to a debt-to-equity ratio of 10% (at inception) and to swap those funds into Treasury Assets.

Actions taken / Use of funds:

• $1M loan obtained at a 12% prorrata APR with a duration of 1 year. Debt-to-equity ratio below 7%
• Swapped $1.25M for 440 ETH (average price: $2,843)
• Repurchased 124 SD NFTs at an average price of 0.43 ETH