Core Team Assistance October 2024 by reuben

Why?

This is the 19th request to the CFC as we committed to do month to month requests instead of a lump sum request. We skipped requests in July, August and September as the CFC lacked the funds and also we had some generations donations from Power Up Privacy that kept us running.

Core team gets about ~16000 FIRO a month from the share of the block reward. At today's prices this is USD17,120

Breakdown of Core Team Expenses

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

Research 2,500 USD While research remains paused, we needed some cryptographic assistance to do Spark Names transfer of ownership. This is a one off payment to Aram.

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

Hosting Fees: 1,200 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.

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

Market Making 6500 USD/month We have increased our market making expenses to have full coverage on all important markets.

Total: USD 50,700

Deficit: USD 33,580

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: 10438 FIRO (11,211.46 USD)

While this is insufficient to cover the deficit, this is the current available amount inside the CFC and we are making up the difference from the donations from Power Up Privacy.

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.