February 2025
Proposal Information
Proposal description:
This is a funding proposal to pay for contributor monthly compensation. For this month, a portion of the payment to contributors were paid in stable coins by Griff (DAI, USDC and USDT on Polygon and Optimism). This is a proposal requesting reimbursement.
Proposal Rationale:
Griff is a GIV maxi, and to facilitate some of the payments of stable tokens to our contributors while we build a better treasury management system, he pays people in stable coins and asks for reimbursement here. Hopefully this process will cause upward pressure on the GIV price as our contributors use stable coins to buy GIV, instead of the opposite, where our contributors get paid in GIV and then sell the GIV to pay bills.
We believe this is the efficient way of paying people on time and without delay. Should there be better alternatives, feel free to add your suggestions and feedback in this post.
Team Information
| Name | Hours |
|---|---|
| Algene | 48.00 |
| Alireza | 195.33 |
| Almond | 66.00 |
| Amanda | 10.95 |
| Amin | 124.00 |
| Anamarija | 10.00 |
| Anna | 8.57 |
| Ashley | 104.60 |
| Carlos | 160.00 |
| Cherik | 195.67 |
| Cotabe | 32.17 |
| Daniela | 11.30 |
| Freshelle | 21.58 |
| Giantkin | 30.00 |
| Griff | 42.00 |
| Heather | 12.50 |
| Jake | 135.00 |
| Kay | 81.50 |
| Kkechy | 126.15 |
| Krati | 1.83 |
| Kristina | 21.00 |
| Latifat | 17.00 |
| Lauren | 128.75 |
| Lliam | 17.50 |
| Maryjaf | 160.00 |
| Meloni | 9.75 |
| Mitch | 124.83 |
| Mo | 135.53 |
| Mohammad Ranjbar | 177.67 |
| Nico | 51.58 |
| Nikola | 59.33 |
| Pedro | 46.00 |
| Ramin | 160.00 |
| Shyne | 18.42 |
| Stee | 4.50 |
| Tosin | 11.15 |
| William | 48.58 |
| Yegor | 115.52 |
Funding Details
| Total Compensation for the month | 88,193.64 |
| Less: Cost of Giveth in GM | 22,434.65 |
| Giveth Compensation Cost | 65,758.99 |
| Add: Expenses (detailed below) | 11,168.21 |
| Total Cost for the month | 76,927.20 |
Amount requested from grants.giv.eth and giv.eth
Ethereum address where payments were processed: 0x01d1909cA27E364904934849eab8399532dd5c8b
Ethereum addresses where funds were transferred: To each contributor’s address.
Note: No mark-up was applied for GM contributors working in Giveth. The amounts charged are all at cost.
GM <> Giveth Accounting Summary
| Description | Amount |
|---|---|
| Giveth contributors working in GM | $15,200.65 |
| Less: GM contributors working in Giveth | $22,434.65 |
| Net amount GM to pay Giveth | $7,234.00 |
General Magic Credit Balance
QACC Costs Reconciliation
After conducting an audit of Q/ACC Marketing and Design hours that were billed to Giveth, it was discovered that some of the costs should have been attributed to General Magic. Our initial proposal was to apply this credit against Giveth’s future payments. However, as General Magic has to pay Giveth for this month’s inter-organizational charges, we propose adding this amount to the existing credit balance until GM finalizes their costing details.
| Description | Amount |
|---|---|
| Credit Balance as of 31 Jan 2025 | $17,744.43 |
| Add: GM payable to Giveth - Feb 2025 | $7,234.00 |
| Less: Clockify/Github subscription share - Feb 2025 | $252.14 |
| Credit Balance as of 28 Feb 2025 | $24,726.29 |
Compensation Breakdown
This month, contributors had the option to receive compensation partially in stable tokens and in GIV. Here’s the breakdown of the totals (unadjusted amounts):
- Stable Compensation - $55,741.96
- GIV Compensation - $11,617.04 / 3,843,150.71 GIV
- GIV Price at time of distribution - $0.00302279
- GIV Price via Coingecko Mar 11, 2025, 11:32:00 GMT+8
GIV Equity Distribution
Following the recently approved equity distribution plan, we distributed $6,314.62 worth of GIV tokens as equity to the contributors who opted to partially receive their monthly compensation in $GIV tokens.
| Month | February 2025 |
|---|---|
| Equity distribution in USD | $6,314.62 |
| GIV Price at time of distribution | $0.00302279 |
| GIV Price via Coingecko | Mar 11, 2025, 11:32:00 GMT+8 |
| Total GIV sent for Distribution | 2,089,003.03 |
| Transaction Link | link here |
Adjustment for next month
There was an overpayment of GIV tokens this month. The adjustment will be reflected in the March payment:
| Payment | GIV paid (Feb) | GIV should be (Feb) | GIV adjustment (March) | USD Value |
|---|---|---|---|---|
| Compensation | 3,308,202.03 | 2,778,889.70 | (529,312.33) | 1600 |
| Equity | 1,819,511.11 | 1,528,389.34 | (291,121.77) | 880 |
Working Group Cost Breakdown
| WG | Cost for the Month in USD |
|---|---|
| DApp WG | 20,557.90 |
| DAO Ops WG | 4,406.49 |
| Quadratic Funding (QF) WG | 9,605.42 |
| GIVeconomy WG | 9,750.10 |
| Fundraising WG | 9,356.41 |
| QACC | 11,411.44 |
| AI Agent Buildathon | 194.67 |
| rescue.money | 476.56 |
| Total Giveth Compensation Cost | 65,758.99 |
*Note: There is a $1.35 difference in Clockify vs. actual amount paid due to rounding off differences.
Here’s a month-by-month breakdown of expenses for 2025
Summary report links:
- Breakdown of costs per WG can be found here.
- Breakdown of WG hours per contributor and description can be found here.
Expenses
This batch of payments includes some expenses incurred during the month. These are the details:
- Skynet (GIVEconomy WG) - 2,000 USDT
- Clockify (shared subscription with GM - DAO Ops WG) - 172.92 USD
- Copilot Github (shared subscription with GM - DApp WG) - 76.00 USD
- Giveth Credit Card Top Up (DApp WG) - 4,000.00 USD
- Migadu Subscription (DApp WG) - 1,198.66 USD
- ETH Denver 2025 Expenses (Fundraising WG) - 3,420.63 USD (this cost is included in the Fundraising WG S6 Proposal)
- Allowance Reimbursement (DApp WG) - 300 USD
Funding Reimbursement
- Amount of GIV requested: $44,525.48 worth of GIV
Ethereum address where GIV shall be transferred: 0x839395e20bbB182fa440d08F850E6c7A8f6F0780
The amount requested will be from nrGIV in GIV tokens at the spot price when the vote is created.
Approve $44,525.48 worth of GIV reimbursement for February 2025 Giveth Core Team Compensation Payment and add $7,234.00 receivable from GM to GM Credit balance?
- Yes
- No