Arbitrum DAO - DAO Core contd.
ArbitrumDAO Procurement Committee
The ArbitrumDAO Procurement Committee (ADPC) is tasked with facilitating & administering various procurement frameworks within the Arbitrum Ecosystem, creating new procurement frameworks for DAO Ratification and creating a proposal for security-service subsidies. The committee will serve a 6-month term.
The 3 committee members were to receive $8k per month each, payable in ARB at the spot rate.
ADPC Spend - March 2023 to July 2024 (ARB)
100k
48k
48k
48k
39.5k
39.5k
39.5k
50k
30k
26k
26k
25k
8.5k
8.5k
8.5k
5k
0
Joseph (immutablelawyer) Stipend
Bernard Schmid Stipend
Paul Imseih (pablo) Stipend
Multisig Signers
ARB Price Buffer
ARB Budget 200k
ARB Sent to Date 143.4k
ARB to be Sent 56.6k
ARDC Spend - March 2023 to July 2024 (ARB converted to USD)
100k
48k
48k
48k
40.7k
40.7k
40.7k
50k
7.3k
7.3k
7.3k
0
Joseph (immutablelawyer) Stipend
Bernard Schmid Stipend
Paul Imseih (pablo) Stipend
USD Budget 144k
USD Sent to Date 122k
USD to be Sent 22k
USD Required to Pay Service Providers $22.0k
ARB Required to Cover USD Owing ARB33.5k
ARB In ARDC Multisig Wallet ARB56.6k
ARB (Shortfall) / Surplus ARB23.1k
The ADPC therefore has a surplus of 23.1k ARB (at 31 July 2024 prices of $0.658). However, this excludes remaining ARB allocated to multisig signers - if those are included, the ARDC has a surplus of 18.1k ARB . The current ADPC term ends on August 20, 2024. Subsidy Fund The ADPC successfully passed an AIP to create a Subsidy Fund - 3.5M ARB (2.5M USD at time of proposal) to provide financial assistance to new and existing projects within Arbitrum. The financial assistance will be exclusive to pre-approved, whitelisted security audit providers who have been selected by the ADPC. The funding will cover 1 cohort of 8 weeks.
The ADPC will oversee this fund should their current 6-month mandate be extended.
To date, the multisig has received funding but has sent nothing yet - the ARB has therefore materially fallen in value: - at a 31 July 2024 closing price of $0.658, the ARB was worth $2.3M - the initial ask included a buffer to ensure $2.5M could be obtained to allocate to this fund
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