When the first Economic Committee (EC) was formed, the Decentralized Cooperation Foundation (DCF), in response to community request, agreed to provide the initial funding to compensate the EC members as well as to provide support for an operational budget.
The stipend for the EC members amount that was approved by the BLD stakers was $50,000 per year for each of the EC members, and XX for the EC member appointed as Secretary.
The operational budget was set at US$50,000 and provided to the EC by DCF in order to cover expenses such as travel, and subscription services (like Slack). Those funds are administered directly by the EC.
Long term, these expenses should be covered by the community via community controlled funds, but in the short term it will likely be difficult for the community to fully cover all expenses. Given that the EC is an important element for Inter Protocol, the DCF is willing to continue to support the EC member stipend. However, the DCF would also propose that, beginning this year, the community take on providing the operational budget for the EC, and that the funds necessary for that expense are drawn from the Community Fund.
Specifically, passage of this proposal will result in the following:
- That DCF will pay the EC stipend amounts this year, from DCF funds, and
- The US$50,000 EC operational budget will be paid from the Community Fund.
Q: What if I disagree with the amounts proposed?
A: A new discussion and on-chain proposal would need to be made with alternative amounts for the BLD stakers to vote on.
Q: What are the steps to post an on-chain governance proposal for the BLD stakers to vote on?
A: Proposals are voted on, Yes or No, in their entirety. It is recommended that any on-chain proposal be posted to the forum for a 10 day discussion period before posting an on-chain vote. Posting on-chain will require a deposit of 500 BLD, which will be refunded if the proposal is not voted no-with-veto. Voting is currently a three day process.