Thanks @JanaBe for your comments and explanations.
There’s still missing some information from my understanding, though, and there was not enough time given to discuss and address the concerns from my perspective, why I ultimately voted against this proposal. These include:
regarding 2: Thanks for outlining the revenues and, given there’s room for improvement, adding some KPIs for the next year.
regarding 3.: despite searching through published reports and being present in the calls, I couldn’t find, or I don’t recall, an accurate report of all the DAOs assets. There’s the public on-chain treasury and some safe wallets, but these do not add up to the estimations given by the foundation.
That’s the nr. 1 info when proposing a budget. Not necessarily including details, but there should be public (and accessible) information about the DAO’s assets.
The proposal still does not give a more detailed explanation of the budget areas. There should be clearer info which bucket goes towards which cause (as done on the 2023 budget proposal). Again, not every expense but more than just one number per category.
regarding 5.: the 2023 budget states 48k yearly for Stablelab (@Jose_StableLab) as a professional delegate. Since then, there’s no detailed budget information, so I’m just guessing it’s the same amount for this year.
The DAO is definitely in need of governance contributions, so I’m not generally opposed to payments or incentives. But I’m wondering if you can share which services are included in this agreement, compared to regular delegates? Also, it’s a conflict of interest voting for their own compensation.
Despite, I’m happy the foundation can continue their work in the next year and further develop the RARI ecosystem.
Hi @bitblondy, We can answer your questions in detail during our budget breakdown call today.
The summary of all assets will be published in our Annual Transparency Report and we’ll update the Tally page to include all sources too.
Re StableLab, indeed the compensation is the same this year as the last year. For services included, there were included in this thread. In brief, it’s: active voting participation, setting a leading example of how a delegate in RARI DAO should act, collaboratively aid proposal creation, contribute to community calls.
@bitblondy closing the loop on the overview of assets under Foundation’s management. The quarterly report was published and it includes the list with a snapshot of values.
Regarding the request for an itemized budget, as anticipated, indeed we cannot disclose granular budget information for confidentiality reasons. The 2025 budget was presented in alignment with previous budgets, following our established approach. It is not our standard practice to provide an itemized breakdown, as doing so could compromise confidentiality and affect our ability to negotiate favorable terms with vendors. Maintaining this approach ensures we can operate effectively while protecting the Foundation’s strategic interests.
We appreciate your understanding and remain committed to transparency within the bounds of responsible financial management.
Please let us know if you have any further questions.
Thanks @JanaBe for the explanation and posting the Q4 transparency report.
It’s maybe worth to point out there was an itemized budget for 2023 (as I’ve said previously), so it’s hardly a long tradition.
It’s clear you don’t need to share confidential info, such as the terms with vendors or salaries. For the other parts, it should be rather self-evident that they are shared with the DAO (as it is a standard industry practice as well, from my experience).
You did give some more info on the community call, so that’s fine with me. Just want to point out there should be some transparency principles, without the need to ask for small bits of information.
I would just echo the concerns around transparency raised by @bitblondy, the transparency report falls short of levels of transparency required in my view - even going as far as not disclosing quantities of USDC held by the Foundation. At this point in time given the extremely high spend of the Foundation compared to the treasury, the Foundation should expect enhanced scrutiny on their spend and in my opinion should respond with greater transparency in order to continue receiving the DAO’s support for the work they are undertaking.
Thank you, @JanaBe for the quarterly report and the follow up budget call. I feel that the Foundation has been transparent with the spend in the budget, and from personal experience, I understand what detail you can/should not include on these public reports. I appreciate the Foundations time spent on educating and addressing questions regarding the 2025 budget. Most questions, I believe are due not having more in-depth Q&A for delegates (which you did with the Budget call). Please continue to host these budget calls for delegates who have more specific financial questions.