Growth fund for the team

Summary
Many volunteers are making expenses (server costs, contract deployments, online tools, etc), we should reimburse them. Also we could do many useful things and move a lot faster if the team had a discretionary monthly budget, a Growth fund.

Abstract
Currently we have a dev fund with around 11M SUSHI, but to make any withdrawals we need to go through multi-sig, which takes days and is a burden for our signers. So I propose we ask the multi-sig signers to transfer a discretionary budget to the team once a month to streamline this.

The Growth fund can be used for:

  • Running community contests
  • Reimbursing volunteer expenses
  • Paying small grants and bonuses
  • Small projects done by freelancers
  • Translations
  • Other marketing expenses
  • And I’m sure many other cool things

Specification
Every month the team requests the Growth fund to be topped up by the multi-sig. Team will report at least weekly on expenses paid. Of course the goal is NOT to empty the fund each month, but to have enough to not get slowed down by running out. Each month the fund will get topped up to the set amount. So it’s the maximum amount, to be spent with care and accountability.

Initially funds will be under control by @0xMaki (since he’s CEO) and are his responsibility. He may choose to provide smaller budgets to other team members as needed.

For

  • Only need to annoy the multi-sig signers once per month (most aren’t directly involved with Sushi)
  • Significantly speed up operations and allows for much faster iteration of ideas
  • Keeps volunteers happy, as some have been “promised” some rewards or at least reimbursement of expenses but are yet to see any
  • Create a lot of fun and community engagement with small prize contests, etc

Against

  • Community doesn’t have full control over every SUSHI spent

Poll
What is the maximum Growth fund size the team should top up to monthly? (We’ll use weighted average)

  • 200k SUSHI
  • 150k SUSHI
  • 100k SUSHI
  • 50k SUSHI
  • 25k SUSHI
  • 0k SUSHI
  • I don’t like this proposal

0 voters

5 Likes

I think we should move this poll to snapshot asap, since a poll on our forum won’t have the ‘legal soundness’ of an official snapshot vote (backed by real voting power).

3 Likes

Ye, this is a must. Not entirely sure on the amounts to give out for fund, but none the less, this is great for the community.

I second moving this to snapshot; I’d love to see it move there. I’d also love to have it clarified who the “team” in this proposal would be. Maybe some designated smaller subset of the active multisig? Maybe another group entirely?

Up lets get this to snapshot good calll. And lets define the “team”

@TalesFromTheCrypto @TimClancy
I don’t think @BoringCrypto had a ‘team’ in his mind when he wrote this, but lots of people already paid with their own pocket.
For example, I think @JiroOno is paying our hosting fees at the moment.
These people who have spent their money for our development should be refunded (and rewarded) asap

I prefer to start here to get feedback… like the need to explain “the team”. But once we get a feel for the sentiment around this proposal, I’ll move it to snapshot :slight_smile:

I envision “team” mostly as 0xMaki and ctrl… who might give small budgets to others…

1 Like

From Discord about this issue:
Current multisig = board of directors;
this proposal as a smaller multisig = CEO and his officers spending money that the board approves monthly.

1 Like

Also this would really help us cover gas expenses. From both the development, and support side.

2 Likes

I posted this in on the channel, but figured it would benefit others here. 10% of minted sushi is currently placed into the DEV fund. You can track it here:

This translates to 64K Sushi/ Day or 1.9M/Month. Just trying to keep things in perspective for everyone.

My 2 sushi
You have to spend to innovate 100K SUSHI/month is 1/19th of our month income or just under 5% which is way under 15% industry avg. for R&D

2 Likes

Let’s push this forward. Exciting times ahead.

1 Like

Vote now: https://snapshot.page/#/sushi/proposal/QmXg8Vq6sNpNWYRvM3GyCQbyDVRk8kRNF3PytGoexrDGgL

This is nk $SUSHI each month, right? In this case 100k $SUSHI will be equivalent to $150k. Which is enough to hire 30 devs.

1 Like

This is maximum per month… so if the vote is 100k and if the team uses 25k SUSHI, and have 75K left… that month they will just receive 25K. The goal is to have enough funds to run smooth operations, not to finish all the funds.

2 Likes

full support from my side, I trust the team to spend the monthly budget in the most efficient way for the ecosystem