Team Quarterly Budget Request Template
| Team Name | Executive Team |
| Quarter and Year | Q4 2022 |
| Payout Address | 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693 |
| Total USD Value Requested | $309,181 USD |
Purpose
The Executive-Team has been the primary custodian of prize pool contracts and prize liquidity since V4 inception. We handle custody and transaction matters where directed by governance, such as claiming rewards, and receiving tokens on networks other than mainnet. We are the goto solution for maximum security custody for the community.
We will take on a new task of custodying delegation funds for L2s. This proposal includes 300k USDC which will be represented by Grants Team (100k), Community Team (100k) and SerHotMike for the growth team. Delegation funds will be separate from prize liquidity for clarity and deposited to the multi-delegator or as undelegated tickets. This operation has the side benefit of increased prize generation for sponsorship funds that are not delegated.
Note: We shall introduce a custody limit of $750k for this quarter to put a hard cap on our total custody. Activities that approach the cap will be brought forward as an alert. Any funds over that amount will need to be approved by a vote to change the cap. This gives the community a clear picture of what our custody risk is.
Goals
Our primary focus is security. We maintain a 7/11 multi-sig of senior contributors who are well versed in PoolTogether infrastructure, happenings, and the greater DeFi ecosystem.
We look to act in a timely and efficient manner to ensure prize liquidity never runs dry, and that Pooler and treasury funds are safe.
These pillars form our goals
- Security
No loss. We strive to never lose funds. This is an easily evaluated metric we strive to maintain.
- Acting on governance directives
A quarterly team survey evaluates our performance alignment with governance directives. The executive-team aligns with the council. Any concerns from the community are encouraged.
- Ensuring prize delivery
Prizes promised are prizes delivered. We strive for no failed prize claims due to a lack of prize liquidity.
- Acting in an organized and efficient way.
A new procedure is being introduced to outline execution time expectations. Transactions will be presented by lead as having a standard 24hr time to sign and execute. Transactions requiring more immediate attention will be presented with a 12hr time to sign and execute. The team will strive to always meet these deadlines and missed time windows will be reported at quarters end.
Budget
Requested Amount
| Amount | Token |
|---|---|
| 309,181 | USDC |
Budget Breakdown
Team Members
| Role | Yearly USD Compensation | Commitment Percentage | Quarterly USDC | Quarterly POOL | Contributor | Contributor Discord |
|---|---|---|---|---|---|---|
| Lead | $100,000 | 16% | $3,164 | 646 | underthesea | underthesea |
| Signer | $100,000 | 4% | $791 | 161 | DaBoom | DaBoom |
| Signer | $100,000 | 4% | $791 | 161 | drcpu | drcpu |
| Signer | $100,000 | 4% | $791 | 161 | Hook | Hook |
| Signer | $100,000 | 4% | $791 | 161 | Kames | Kames |
| Signer | $100,000 | 4% | $791 | 161 | Lonser | Lonser |
| Signer | $100,000 | 4% | $791 | 161 | McOso | McOso |
| Signer | $100,000 | 4% | $791 | 161 | Pierrick | Pierrick |
| Signer | $100,000 | 4% | $791 | 161 | TheRealTuna | TheRealTuna |
| Signer | n/a | n/a | n/a | n/a | Brendan | Brendan |
| Signer | n/a | n/a | n/a | n/a | Leighton | Leighton |
Team Expenses
| Description | Amount |
|---|---|
| Gas | 1,000 USDC |
| L2 Delegation | 300,000 USDC |
Previous Budget Surplus
| Description | Amount | Token |
|---|---|---|
| Comp budget | 5,148 | POOL |
| Comp budget | 1,311 | USDC |
Appendix
Currently held POOL exceeds POOL required for the quarter. POOL will be returned to treasury. The amount dependent on pricing of retroactive compensation for the last two weeks of September. Currently estimated ~3,000 POOL.
Any USDC remaining at end of quarter will roll-over to the next quarter or be returned if the team or funding is not renewed.
Token Pricing
| Token | USD |
|---|---|
| ETH | $1300 |
| USDC | $1 |
| POOL | 0.985298 |