To Esco and the Cardano Community,
Here is some perspective for you about administration budgets. I appreciate the harsh criticism and your passion, but man I hope you are open to understanding. I am perplexed by your narrative painting, especially when not long ago we were on calls and you were excited about the DAO and wanted to use the network to help grow your business.
You are currently yelling about Clarity getting all of the administration budget that totals 420k ADA. (False)
The on-chain evidence shows that Clear Contracts got 210k ADA for consulting and administration services which include (1.75% of the fund, not 3.5%, simple maths lol).
And I tell you what the work we had to put into do this job well was a lot. We worked with the auditor to set up membership diligence and lead recruitment to get as many builders from as many corners of the ecosystem we could. We Headed up member engagement and alignment meaning member meetings, setting schedules, tons of reminders being sent out, getting all the governance actions up correctly. We lead compliance and documentation management. We lead Communication and Representation and traveled to events within this budget. We create, maintain, and manage the official CB DAO governance platform. We led the creation of the foundation documents, the amendment process, and the governance framework. We are leads on the technical infrastructure that powers the CB DAO. We find and source the right vendors for the DAO. And there's more we do for this DAO too.
But, to really paint the picture on why I am confused about why you keep sowing doubt about the CB DAO and the efficiency of our administration budget, let's look at the administration budgets of other funding mechanisms in Cardano.
In 2025 budget Catalyst sites
2,479,000 ADA for interface design and development (This is taken care of for the CB DAO because we use an existing product)
2,680,000 for production grade decentralized Catalyst infrastructure via Hermes
3,300,000 for fund operations
Total Admin budget: 8,459,000 ADA
The 2025 Intersect budget (I understand this is less of an apples to apples comparison)
4.5M USD on staff
175k USD for board members
200k USD for company expenses
500k USD on software licenses and infrastructure
500k USD for legal and compliance
250k USD for board services
300k USD for membership and marketing
500k USD for committee stipends to administer treasury withdrawals.
Total Admin: 6,925,000 USD
Draper
Management fee 6 M USD for 6 years (discounted average market rate for similar set-ups)
Fund Expenses 1.2M USD
Holding administration expenses 0.3M USD
Meanwhile, the Cardano Builder DAO continues to thrive on a production grade treasury management system, with no large or unexplained delays, with a 210,000 USD Admin budget.
Like really man, if you are for less admin budget, fairer distributions of funds to the people actually contributing to KPIs, more transparency, you should probably be for the DAO.
Lastly, painting Clarity as greedy is not just and I won't stand for it. We literally had an idea and distributed funds across the ecosystem to builders we know and don't know, while getting the lion's majority of our funding by participating in the process that everyone else had to. We currently have a modest amount of runway left at very modest salaries. That is the truth.
As of yesterday,
@realdecimalist uninvited and originally uninvolved tried to have me Recant my original post about
@builder__dao . Didn’t have the proper time yesterday to reply while being constantly antagonized about it, but here we are.
This is my original post and the facts from their own reports. 👇🏼
1- Clarity got 3.5% of the 12 million for management. (I never commented how that broke down line time wise) This is FACT!
2- I mixed up Taptools and clarity total fund s received. Sorry about that I posted about it right away. I said 450k it was 300k USD
3- Taptools got 10% of the fund. that’s ANOTHER FACT!
4- Iagon Clarity = about 21.4% of the fund. since i mixed up taptools and clarity my number was off not quite 25%. oh and they both council members. AN OTHER FACT!
5- 23.79% of the entire fund went to 4 of the council members. sorry they wouldn’t confirm the 5th so i don’t know the actual total and there might not be a 5th.
Note:
@realdecimalist , your an idiot. antagonizing me and provoking me, insinuating i’m lying and prompting Ai to support your Larp was peak Retardation. But maybe this is how game theory works, you accumulate cuddo points so if it gets funded again you get votes and maybe get 4.72% of the next fund too. 🫶🏽
Not gonna make more comments about this cus my whole goal what to just shine light on this and have people and Dreps look into this themselves and not take my word for it….. considering they asking for 23M more on this NCL round it’s probably important to discuss….. and we didn’t even get to the KPI’s 🙄