Summary: Disburse the equivalent of 72,000 EUR over July and August to close the loan made by Mithras Labs. The funds will solely finance the maintenance and development of Paladin and its ecosystem.
Context:
Mithras Labs has been developing the Paladin Ecosystem (Paladin Lending, Boost / Pledge / Quest v1/v2 and Warlord) for close to three and a half years and has supported the growth of the DAO namely by lending it 110 ETH in order to hold more liquidity.
The previous 5 installments have contributed to reducing this debt. You will find a table of a recap here:
As you can see, we’re getting very close to finalizing a full payback and Paladin becoming debt-free.
Rationale:
Considering revenue stagnating last quarter, we are dialing down on expenses by 10% and doing a proposal specifically to close out the loan. We will start our first service provider budget request early September, and it will include retro-active funding if the remaining debt repayment is insufficient for funding the next 2 months.
Our goals with this budget are the following:
- Release 3 new Quest markets (Maverick and 2 Solidly projects);
- Push a new incentive allocation protocol in production;
- Start developing a new primitive to be revealed in September;
Means:
- 72,000 EUR
Voting options:
For / Against / Abstain
- For
- Against
- Abstain
