Following on from Plurality Labs' Milestone 1, Milestone 1b was launched and passed the DAO's governance mechanism to focus on building on the momentum from the first grants program. The goals of Milestone 1b were to: - build on winners and cut underperformers with our initial grants allocations. - continue to drive experimentation with new grants allocations.
- deliver on all deliverables for Milestone 1 to the satisfaction of our top delegates. - leverage better tech and systems to support further scale in Milestone 1B.
Plurality Labs - Funding Requests (ARB)
+820k
3.9m
(336k)
(24k)
(200k)
3.3m
(212.3k)
3.1m
+212.3k
+2.8m
Under Milestone 1B, Plurality Labs requested the same funding as Milestone 1A (3.36M ARB). However, when the Milestone 1A program closed, Plurality Labs had 514k ARB not allocated to a grantee. They therefore reduced the amount of ARB needing to be sent from the DAO by this 514k ARB. When performing our recon, it was noted that 820k ARB was actually unallocated - refer to the table alongside. Therefore, instead of having 2.8M ARB to allocate to grants, the program will actually have 3.1M ARB due to this difference (820k in wallet vs. 514k estimated when the proposal was submitted). For milestone 1B, the full amount for grants and operating costs was transferred to Thrivecoin's Thrive Impact Foundation multisig. There was therefore a balance of 1M ARB in the grants multisig wallet, relating to amounts allocated and unallocated from milestone 1A.
ARB
Funding Received - Milestone 1A
3,360,000
Plurality Labs Service Fee
(336,000)
Grants and Program Managers
(1,991,783)
1,032,217
Remaining 1A Funding
212,254
- allocated
819,963
- unallocated
Operational Cost % of Budget 18%
Program Managers 7.2%
Funding Received - Milestone 1B
2,846,000
Funding Sent - PL Grants Multisig to Thrive Multisig
(2,846,000)
Plurality Labs 10.8%
1,032,217
Balance in PL Grants Multisig
29
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