We have officially funded 10M USDC and 100M JUP into a DAO wallet.
This operational budget provides the DAO the capability to fund the ideas with USDC and have the JUP allocation for long term incentive alignment with J.U.P Catributors.
Besides LFG selection, the DAO will also be responsible for funding key initiatives including Working Groups, public goods and community efforts.
To ensure that the DAO will be able to execute on these crucial things over the long term, we will aim to top up the same budget on a yearly basis.
(E.G: if the DAO ends the year with 1.5M USDC and 50M JUP, the team will replenish 8.5M USDC from revenues and an additional 50M JUP will be transferred from the community cold wallets)
These funds are stored in a DAO multisig consisting of 3 members from the team and C2yptic from the Core Working Group.
Over the next few weeks, we will expand the multisig to include additional signers – ideally one nominated catdet and an ecosystem leader, and an additional key provided to a professional custodian.
We are looking very forward to discussing with the Catdets to pick a Catdet Leader to be part of this crucial multisig! We also intend to add additional signers, such as an ecosystem signer and a professional custodian.
It has been a long journey in getting to this point, and we cannot be more excited to kickstart this new phase with the entire Jupiverse!
Im seeing zeus wants us to complete a mission to get the airdrop? (I did vote in the LFG) Im trying to figure it out and it just sends me to some galxe thing i try to log in and then nothing…i cant even connect phantom wallet… anyone have any clue what a newb can do?
Love the thoughts Kemosabe said, teach the cats to fish… hoping to see more action plans with the team. Rooting for you guys! Strike while the iron is hot!
Great that DAO is funded, people need to be motivated.
I’d suggest that before funds are replenished at the end of the year - there is report on how the funds were spent through out the year. For transparency.
Now, the 3 Trial WGs have the funding, talent and capabilities to take on their respective scopes! The Jupiter team will work with them in public coworking sessions, or in the respective Discord channels.
Expect to hear from each WG over-time as they give updates on their progress either in Discord, this forum, or on Town Halls/Planetary Calls.
Nice to see the multisig is up and running, @0xSoju - I was wondering if there were any updates on new signers, and also, if there was any post or place where it’s disclosed who the responsible signers are, and their public keys?
JM Catdets
With the intention of keeping this thread up-to-date (and alleviating the workload of the core team) - and continuing @0xSoju effort: Here are the latest 3 treasury movements that have not yet been added:
1/3: JupDAO Treasury multisig moves 112,000 USDC to CoreWorking Group. Representing 2/4 of their approved yearly budget:
- TX: Solscan
- Date: 15 September
- Approved Budget: vote(dot)jup(dot)ag
2/3: JupDAO Treasury multisig funded the CoreWorking Group with 150,000 USDC for the Grants Program
I suggest finding alternative wording for expenses intended to be useful (150,000 for the grants program) and those that are salaries. Up until now, there have only been “budgets,” which is why the CWG has the grants included. It would be beneficial to distinguish between operational expenses and compensation to provide a clearer picture of fund allocation.
I hope the cadets find this information interesting. Please note that I’m not part of any working group, and this information has been extracted from the explorer, so there might be errors (I suggest improving transparency from future working groups by asking them to disclose their public keys so the explorer is easy to navigate)
