NDC Update: CoA Approves NDC V1 Budget Package

The COA thanks the HOM for its first draft budget, the total ask of which is $2.9m for 3 months of operations. Original Source

Overall, we see this as a large budget ask and optimistic for its expected delivery. This budget is done to enable the accomplishment of goals as stated here.

Nevertheless, the COA approves the budget (voting results here), with the caveats below.

The below letter provides —

1. Our rationale for the approval
2. Recommendations for next steps and specific comments on sub-categories
3. Recommendations on recent observations.

1. Rationale for approval

Instead of endless back and forth on budget conversations, we want to take a pragmatic approach of test & learn and expect iteration on sub-activities: further investments in what delivers, no further investments in what does not deliver.

COA’s understanding of this budget is that it is a potential maximum spend, and that each spend will need to be separately approved upon more details in order for funds to be disbursed.

2. Recommendations for next steps and specific comments on sub-categories

• Rewards: it is our understanding that many members will renounce their remuneration, hence the total proposed budget ($290k for 29 members) is overstated. We recommend implementing a tracking system of engagement of members to ensure fairness in payout (ie. members should not be paid if they did not actively participate or produced low quality results)
• Overall activities and details: there is a lack of details on many items, we would like to understand the rationale and operational details behind lines 14 to 47, as we understand that already exists.

Funding process:

• The COA expects a detailed funding process to be clearly proposed and accepted for any funding. We expect a level of transparency and details for proposals to be approved.
• The CoA expects a pragmatic and tranched funding process to new Grassroots nodes to ensure deliverables are met and funding is appropriately deployed.

3. Recommendations on recent observations

In reference to the budget and discussion at HOM (see thread from Cameron Dennis here), The COA would also like to ask HOM to address its internal process and ensure that all its members are heard so that best possible proposals are put forward. We do not think having such public statements helps the reputation of HOM and the NEAR community.