ARDC Spend - March 2023 to July 2024 (ARB converted to USD)
1m
750k
750k
507.3k
480k
480k
500k
365.2k
365.2k
320k
242.7k
217k
250k
114.8k
114.8k
103k
0
Security - OpenZeppelin
Research - Blockworks
Research - Delphi Digital
Risk - Chaos Labs
USD Budget 2m USD Sent to Date 1.5m
USD to be Sent 575.3k
USD Required to Pay Service Providers $575k
ARB Required to Cover USD Owing ARB875k
ARB In ARDC Multisig Wallet ARB163k
ARB (Shortfall) / Surplus (ARB711k)
The ARDC therefore has a shortfall of 711k ARB (at 31 July 2024 prices of $0.658). However, this excludes remaining ARB allocated to multisig signers, Immutable Lawyer and DAO Advocate fees - if those are included, the ARDC has a shortfall of 746k ARB . Note in the above graph, the total budget differs to USD sent + to be sent due to rounding differences. This shortfall has been driven by the price of ARB decreasing while the collective held all funding in ARB. Service providers were paid on a regular schedule in ARB, but the service fee was defined in USD. As the price of ARB fell, the collective had to send service providers more ARB in order to cover the required USD fee. The collective has already allocated more ARB to 2 service providers than had been budgeted for - Blockworks Research and Delphi Digital. Both service providers are still owed USD fees, evidencing the impact of the fall in ARB pricing on service provider payments. Consideration should be given around the fairest way to distribute the remaining ARB and to pay service providers.
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