YIP-79: Add 50,000 $YAM tokens to the general expense fund

Basic Summary

Previously Yam has approved a general expense fund.

This proposal adds 50,000 $YAM from the contributor vesting pool for small and irregular payments that would be too onerous go through a full YAM Governance proposal and vetting process. It will still be used for small general expenses, but now also for bounties, on-boarding new contributors before voting on part or full time compensation, marketing campaign costs, etc.

Gnosis multi-sig:
https://gnosis-safe.io/app/#/safes/0x744D16d200175d20E6D8e5f405AEfB4EB7A962d1/transactions

Abstract

This proposal would allocate 50,000 $YAM tokens to a general expense multi-sig. In order to alleviate usage of funds from the Treasury, the community has suggested to minimize the usage of funds from the treasury for expenses, and instead use the $YAM that has already been minted in the contributor vesting pool.

Motivation

We’ve started working with some community developers and other members and asked them for a trial period. This Yam for the general expense fund would be used to incentivize these trial periods and show a commitment from Yam to compensate contributions. While they are performing tasks (before we create a full/part time contributor compensation proposal for them) we need to have access to an operating budget without going through a full governance proposal process for small, and typically irregular payments.

We’ve also started the uGas logo contest and it has gotten a significant amount of submissions from the community. The general expense fund would also be responsible for paying contest winners for this contest and others like it.

The general expense fund would be responsible for:

  1. Yam infrastructure expenses
  2. New Contributor trials / on-boarding
  3. Development / collaborative tools
  4. Gas costs
  5. Small misc expenses directly related to Yam

If it is possible to pay in $YAM, then it should be the first option.

All expenses will be documented and a transparency report will be available monthly.

When funds are low in the account, a top-up request for additional funds will be made.

Specifications

Send 50,000 YAM from Contributor Vesting Pool to Multi-sig.

Snapshot

Add 50,000 $YAM to General Expense Fund
https://snapshot.org/#/yam.eth/proposal/QmZGnhAgS4Ve1Ceuv89WN8m425rZqyMy69RGVWuLCp4cUN

1 Like

This YIP has passed and will be implemented as an on-chain vote in the near future: Snapshot