Core Development and Research January 2024 by reuben

Why?

This is the thirteenth request to the CFC as we committed to do month to month requests instead of a lump sum request. We didn't make a request for December but as prices have dipped again, would require the CFC assistance.

Core team gets about ~16000 FIRO a month from the share of the block reward. At today's prices this is USD25,120.

Breakdown of Core Team Expenses

Developer Pay (covers 4 developers Peter, Levon, Artur, Narek and Sproxet) 30,000 USD/month

We have hired a new junior developer Artur to replace Gevorg and assist Levon.

Research: 3,500 USD/month We have reduced the number of hours for research as we preserve our runway though research work is still ongoing at a slower pace.

Admin/Support/Management (including Reuben) 9000 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 (Previously 1250 USD which was reduced from 2500 USD) We have engaged Batuhan to assist with community management. This covers also other miscellaneous part time assistance for Firo Africa/Arab.

Market Making 2100 USD/month

We have worked out a deal with a market maker on a friendly basis due to our continued support and introductions I have made to them. This will cover our major exchanges

Website Update 1300 USD

We made a minor revamp on the website and are continuing to update it.

Total: USD 49,150

Deficit: USD 24,030

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: ~USD24,030 in FIRO equivalent

Breakdown:

Instead of giving a full breakdown, since we have already listed the expenses above in detail, we are requesting the shortfall.

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.