The Tangle Community Treasury is back!

Dear Shimmer and IOTA communities,

Thanks for your support for the candidates in the most recent treasury committee elections and especially thanks to everyone who voted on-chain with their IOTA and Shimmer tokens. The Tangle Community Treasury is again fully staffed and back in operation. This article is the first official communication of the new team in the term 2024/25, and we would like to welcome our new committee.

The newly elected team members are:

Program Lead (acts as a lead for both the IOTA and Shimmer treasury):

• Linus Naumann

Shimmer Treasury Committee (which also acts as the Tangle DAO LLC committee):

• Richard Mediavilla (Finanzgoblin), Co-Lead
• Nicole O’Brien, Team-Lead
• Yi-Wei Lin (Ian)
• Magnus Ringen (Phantom3D)

IOTA Treasury Committee:

• Richard Mediavilla (Finanzgoblin)
• Nicole O’Brien
• Ping Chang Yu (Wiwi)
• Marcus Peters (0xMarcus)

The term of this new team started on July 9th 2024 and will go on until July 8th 2025 or until a new team gets appointed by valid on-chain elections.

Summary of the results can be found in the appendix below

First steps

The new team jumped straight in with a kick-off meeting on the first day of the new term, July 9th, where the internal internal processes were introduced to the new members, i.e. , grant management, proposal reviews and invoicing.

The first larger focus of the new team will be to define this terms’ grant funding strategy. This strategy will define how the treasury will act over the next year and what types of proposals we will be more likely to fund. It will also define how the treasury might act with its dormant funds (for example using them for liquidity provision or other DeFi activities) and liquidation strategy. his thought process already started over ther past few and involved the previous team reviewing the previous funded proposals and outcomes, we expect it to take a little bit of time to get input from the new committee and to also involve feedback from the wider community. In general, the funding strategy will take into account:

• The effective budget of each treasury
• Needs and wishes of the community and the ecosystem
• Learnings from the last year of grant funding
• A general focus on high-value per dollar spend

Expected budget

We will publish a more detailed report about our expected budget for the upcoming term in the next few weeks. However, in order to inform the public discussion about the next term’s funding strategy we will already share a simplified summary of the treasuries funding situation here. Please understand that all dollar values here correlate strongly with the IOTA and Shimmer token prices and can therefore experience high volatility. The presented numbers are rounded and should only be used to get a rough overview over of the treasuries funds.

Total budget at the start of the term (current day value minus leftover liabilities)

• IOTA Treasury: $1,400,000 (exclusively in the form of IOTA tokens)
• Shimmer Treasury: $130,000 (mostly in the form of SMR tokens, partly in other tokens and in reimbursement from the IOTA treasury)

Expected overhead costs (salaries, legal, services):

• IOTA Treasury: $300,000 ($25,000 per month)
• Shimmer Treasury: $50,000 ($4,000 per month)

Expected budget left for grant funding:

• IOTA Treasury: $1,100,000 ($92,000 per month)
• Shimmer Treasury: $80,000 ($6,700 per month)

Next steps:

The treasury team aims to start giving out grants as quickly as possible. For this we will focus on defining our funding strategy and setting up all necessary processes (including finalizing the setup of two distinct treasuries for IOTA and Shimmer in internal bookkeeping and related administration).

Please follow our official social media channels to stay up-to-date:

• Discord
• Medium
• Twitter/X

Appendix: Committee Election Results Summary

Shimmer Committee election results summary (July 2024, full results here):

SGP-010: Shimmer Treasury committee and Tangle DAO LLC committee election:

1.) Nicole O‘Brien

• Yes: 15,649,778,088,780,404 votes — 97.4%
• Abstain: 421,093,927,658,952 votes — 2.6%

2.) Richard Mediavilla (Finanzgoblin)

• Yes: 15,142,936,265,997,200 votes — 94.2%
• Abstain: 927,935,750,442,158 votes — 5.8%

3.) Yi-Wei Lin (Ian)

• Yes: 8,676,380,419,835,313 votes — 64%
• Abstain: 7.394,491,596,604,044 votes — 46%

4.) Magnus Ringen (Phantom3D)

• Yes: 8,135,906,832,500,587 votes — 50.6%
• Abstain: 7,934,965,183,938,770 votes — 49.4%

SGP-011: Tangle DAO LLC program lead election

5.) Linus Naumann

• Yes: 15,712,083,687,806,666 votes — 99.5%
• Abstain: 77,459,008,940,321 votes — 0.5%

IOTA Committee election results summary (March 2024, full results here):

1). Linus Naumann*

• Yes: 20,810,751,733,860,144 votes (96.6%)
• Abstain: 733,273,016,534,623 (3.4%)

*Note that Linus Naumann was later elected program lead and will therefore not take on a position as a grant reviewer. The person with the next highest votes (Ping Chang Yu (Wiwi)) will instead take over this position.

2). Nicole O’Brien

• Yes: 19,923,852,112,757,044 votes (92.5%)
• Abstain: 1,620,172,637,637,723 votes (7.5%)

3). Marcus Peters (0xMarcus)

• Yes: 15,525,546,539,743,980 votes (72.1%)
• Abstain: 6,018,478,210,650,788 votes (27.9%)

4). Richard Mediavilla (Finanzgoblin)

• Yes: 14,854,340,515,302,212 votes (68.9%)
• Abstain: 6,689,684,235,092,557 votes (31.1%)

5). Ping Chang Yu (Wiwi)

• Yes: 14,673,394,727,471,922 votes (68.1%)
• Abstain: 6,870,630,022,922,846 votes (31.9%)