Summary
This proposal seeks DAO approval for a 1 year infrastructure and operations budget which includes costs for audits, offchain infrastructure, yearly fee for LQ market making on CEXs, accounting, legal, marketing and company travel. This budget includes the total yearly infrastructure and operations costs incurred by Liqwid Labs LLC during protocol operations. By supporting this proposal the Liqwid DAO continues funding for infrastructure & operations related expenses necessary to operate the current protocol and deploy new Liqwid built DeFi products to Cardano mainnet.
Description
Scope
This proposal focuses on the Liqwid DAO’s infrastructure and operations related cost for the year based on current protocol costs for operating Liqwid v2 and upcoming product launches including Liqwid v3, Bitcoin DeFi and RWA markets. More specifically this budget covers the smart contract audit costs including bug bounty program for the Liqwid V3 smart contracts and the costs involved with operating the currently deployed V2 protocol.
Rationale
Leading up to this proposal the Liqwid DAO Core Team has completed a cost analysis on all infrastructure related costs required to operate the current version of the protocol with the goal of balancing maximal uptime for the API and app with infrastructure cost reductions where possible. The Liqwid DAO Core Team will complete periodic cost analyses in the future as required to support business needs and new product launches.
Below is the full cost breakdown of infrastructure & operations related costs. Business Development includes expenses related to accounting, legal, marketing and company travel.
Cost Breakdown:
Infrastructure: $45,000
Smart Contract Audits & Bug Bounty: $252,000
Liqwid DAO Token Centralized Exchange Market Maker: $24,000
Business Development: $135,500
Total cost: $456,500
Budget Financing Plan
If this proposal is passed the budgeted amount will be funded with stablecoins against the POL position.
Technical Considerations
There are no technical considerations or smart contract changes required for the execution of these proposed actions.
Conclusion
The Liqwid DAO Core Team recommends adopting this infrastructure & operations budget proposal to finance the next year of costs.
By supporting this proposal the DAO continues funding for critical infrastructure & operations costs incurred during the operation of the protocol and launch of new products.
Do you support this proposal?
- Yes
- No