October 2024
Proposal Information
Proposal description:
This is a funding proposal to pay for contributor monthly compensation. For this month, majority 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.
Also, while we sort out a streamlined process for payments, we believe this is the efficient way of paying people on time and without delay. Should there be better alternatives, your suggestions and feedback would be greatly appreciated.
Team Information
| Name | Hours |
|---|---|
| Algene | 53.00 |
| Alireza | 199.42 |
| Almond | 168.00 |
| Amin | 189.75 |
| Anamarija | 7 |
| Ashley | 141.95 |
| Aubree | 34.00 |
| Ben | 1.00 |
| Carlos | 184.00 |
| Cherik | 190.42 |
| Freshelle | 22.00 |
| Giantkin | 30.00 |
| Griff | 40.50 |
| Guil | 39.5 |
| Heather | 13.5 |
| Hrithik | 40 |
| Ian | 114.50 |
| Jake | 147 |
| Kay | 81.00 |
| Kieran | 21.00 |
| kkechy | 54.37 |
| Krati | 5.00 |
| Kristina | 27.97 |
| Latifat | 48.17 |
| Lauren | 162.33 |
| Lliam | 37.08 |
| Lovel | 1.25 |
| Marcelo | 19.42 |
| Maryjaf | 166.68 |
| Mateo | 72.08 |
| Meloni | 2.50 |
| Mitch | 159.33 |
| Mo | 134.02 |
| Moenick | 188.00 |
| Moeshehab | 16.00 |
| Mohammad Ranjbar | 184.00 |
| Nico | 32.17 |
| Nikola | 55.08 |
| Paulo | 20.45 |
| Ramin | 185.00 |
| Roberto | 3.75 |
| Shyne | 23.92 |
| Stee | 33.00 |
| Tosin | 114.78 |
| William | 59.75 |
Funding Details
| Total Compensation for the month | 105,431.24 |
| Less: Cost of Giveth in GM | 27,653.67 |
| Giveth Compensation Cost | 77,777.57 |
| Add: Clockify subscription paid by GM | 203.94 |
| Add: Github Copilot - Giveth share | 83.87 |
| Total Cost for the month | 78,065.37 |
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 that no mark-up was applied for GM contributors working in Giveth. The amounts charged are all at cost.
For this month, Giveth will be receiving a payment from General Magic for $5,641.91 in stable tokens. See breakdown below:
GM <> Giveth Accounting Summary
| Description | Amount |
|---|---|
| Giveth contributors working in GM | $27,653.67 |
| Less: GM contributors working in Giveth | $21,891.69 |
| Less: Monthly Clockify Subscription (paid by GM) | $203.94 |
| Add: Github AI Subscription (paid by Giveth) | $83.87 |
| Giveth receives payment from GM | $5,641.91 |
Compensation Breakdown
Contributors had the option to receive compensation partially in stable tokens and in GIV. Here’s the breakdown of the totals:
- Stable Compensation - $66,209.91
- GIV Compensation - $13,467.66 / 2,764,474.53 GIV
- GIV Price at time of distribution - $0.00720197
- GIV Price via Coingecko Nov 7, 2024, 15:56:52 GMT+7
GIV Equity Distribution
Following the recently approved equity distribution plan, we distributed $7,161.51 worth of GIV tokens as equity to the contributors who opted to partially receive their monthly compensation in $GIV tokens.
| Month | October 2024 |
|---|---|
| Equity distribution in USD | $7,161.51 |
| GIV Price at time of distribution | $0.00720197 |
| GIV Price via Coingecko | Nov 7, 2024, 15:56:52 GMT+7 |
| Total GIV sent for Distribution | 994,382.44 |
| Transaction Link | link here |
Working Group Cost Breakdown
| WG | Cost for the Month in USD |
|---|---|
| DApp WG | 37,019.31 |
| DAO Ops WG | 5,984.02 |
| Quadratic Funding (QF) WG | 7,206.42 |
| GIVeconomy WG | 16,254.87 |
| Fundraising WG | 7,366.89 |
| QACC | 3,322.29 |
| Gurves WG | 120.13 |
| Devcon 2024 (Giveth) | 503.64 |
| Total Giveth Compensation Cost | 77,777.57 |
*Note: There is a $1.74 difference in Clockify vs. actual amount paid due to rounding off differences.
Here’s a month-by-month breakdown of expenses for 2024
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
Included in this batch of payments were reimbursements which were paid out. Details are submitted in Clockify as an expense request with supporting transaction lists. These are the details:
- Mitch (Deform subscription - QF WG) - 49 USD
- Skynet (GIVEconomy WG) - 2,000 USDT
Funding Reimbursement
- Amount of GIV requested: $66,950 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 $66,950 worth of GIV reimbursement for October 2024 - Giveth Core Team Compensation Payment
- Yes
- No
0 voters