Core Team Assistance March 2024 by reuben

Why?

This is the fifteenth request to the CFC as we committed to do month to month requests instead of a lump sum request.

Core team gets about ~16000 FIRO a month from the share of the block reward. At today's prices this is USD31,360

Breakdown of Core Team Expenses

Developer Pay (covers 4 developers Peter, Levon, Artur, Narek and Aleflm) Sproxet has moved to work on their own project. Aleflm is a new software developer formerly from Microsoft that we have on-boarded on a 3 month trial. 30,000 USD/month

Research: 3,500 USD/month

Admin/Support/Management (including Reuben) 9500 USD/month (covers Reuben, Anwar, Ajay)

Hosting Fees: 1,000 USD/month This covers Github, Continuous Integration, Matrix, chat bridges, seed nodes, explorers, light wallet servers, testnet and website hosting fees. The bulk of this is on explorers and the light wallet support which require beefier specs.

Sysadmin: 1,250 USD This is engaged from Cypher Stack and covers the running of all our infrastructure. This is reduced from 2500 USD/month after Cypher Stack kindly agreed to reduce their charge during the bear. The price will be back to 2500 USD when Firo goes back to USD2.50/FIRO

Community Support: 1000 USD Batuhan receives 500 USD to assist with community management. The remainder is for various giveaways, merchandise and community events or to reward volunteer community managers.

Market Making 3000 USD/month

Market making support has been increased also with the FIRO/BTC pair Hummingbot campaigns to gauge interest in maintaining the pair on Binance.

Total: USD 49,250

Deficit: USD 17,890

Do note that the deficit is only an estimate and is based on the current market price. This figure changes with the ebbs and flows of the market.

How much?

Total requested: ~USD17,890 in FIRO equivalent

This is a smaller request than last month due to the appreciation of FIRO.

We won't be requesting volatility protection especially this will be on a month to month basis.

We are requesting for this proposal to be reviewed on a month to month basis by the Community Fund Committee so that in the event market conditions improved we can cease this and we can also adjust the amount requested.

The core team as a general principle does not want to make requests from the Community Fund unless absolutely necessary and we appreciate the support.