ETH to Dollar Conversion Policy For Previous Props

Concerning Prop Builder Payments we have recently discussed giving the proposer the option of converting ETH into a stable coin if they require payment in fiat or have fiat expenses. This is especially important when we have a milestone based payment structure. This was implemented in Prop 73.

Concerning Props 56 & 70 the DAO did not provide clear options that would allow the Proposer to choose how the milestone payments were held while also enforcing mileatone based payment. In a sense they were forced to take the market risk without clear guidance on possible options.

Prop 56
Let’s make sure Klim can finish what he started. Breakdown in his words below:

FUNglasses manufacturing cost needs

Original proposal ask was for 50-55 ETH ($165,000)when ETH was at or above 3000. This total covers all tooling, manufacturing, logistics (with an estimated place holder of 5E for sea shipping (15K to be adjusted once we have finished samples to determine final weight, volume and freight costs for shipping and ground transport to the US).

I received 15 eth for tooling deposit:
5E cashed out at ~$2,930 = 14,650
10 cashed out at ~$2,450 = 24,200

Balance Needed to complete this project is:

The above covers, manufacturing finished packaged goods ready to ship, testing, Liability Insurance, pack out, and estimated shipping, and warehousing for a year.

Unexpected increases may occur in shipping costs based on final size and volume of shipment.

Please note that I unintentionally underestimated my time working on this since it is my first project of this type also still unsure about the tax implications of getting paid in ETH for services and manufacturing

The project did not factor in any marketing as that is something we usually start once we have samples. Marketing would include NFTNYC, Samples for Coin dinner & NFTNYC, DCON and other opportunities mentioned in the original pitch. Open to planning with the marketing team etc

WE can set production for early July and have product in hand late September perfect for the holiday season and DCON launch

Prop 70
We approached this Prop with the idea that we would pay slightly above fair market value, 60K, to produce 5 cc0 story bibles.

Four of the five teams teams have begun submitting rough drafts, let’s give the the choice of how to proceed at todays valuation.

$60,000 (20 ETH) to create cc0 Story Bibles.
$18,000 (6 ETH) paid upon start

$42,000 is the balance due to each team.

Currently we have 14 ETH for each team so would need an additional X ETH per team

This Prop was designed for 6 teams, 1 of which was to be chosen from submissions but submissions have been low. Another team, StudioDAO, ran into some issues with the creators and have agreed to bow out. We also have 10 ETH for legal which we won’t need as everyone left has agreed to CC0 for everything. We can re-route this 50 ETH towards the balance owed plus top of an additional X ETH and allow the teams to choose how to move fwd with ETH or Stable Coin equivalent.


Thanks for bringing this to the attention of a wider audience

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Just wanted to say that as someone who does projects like this, especially with current market volatility this is a real issue for teams like ours. We’re proposing to incur substantial USD denominated costs and it’s unreasonably risky to commit to project quotes that might go up or down 10-20% a day. It would be great to be able to bid projects in USD as an option and to then have that amount of ETH converted to stables upon approval, or whatever appropriate mechanism allows us to estimate and bid in USD and then receive predictable USD denominated funding.