OIP 10 is a proposal to set up a monks DAO fund that will be used to fund initiatives in the areas of marketing, education, and community engagement. The aim is to ensure initiatives are overseen to completion, and to bring accountability to the initiatives that are approved by the Omm community.
The total funding required is USD 29,909 which is approximately 1,544,555 OMM tokens. This will be:
- USD 4,409 equivalent in OMM tokens (220,540) to account for the shortfall of funds from the last proposal owing to the drop in OMM price.
- USD 25,500 which is approximately 1,324,105 OMM tokens (5% price buffer allowing for price drops) for the new proposal.
Breakdown of new proposal requirement:
• Multisig remuneration for 3 monks for 3 months (USD 1,000 per monk per month paid in equivalent OMM tokens at the end of each month with 50% vested over the 3 months)
• Marketing initiatives (USD 2,000 per month for 3 months)
• NFTs/OMM tokens for rewarding active community members (USD 4,500)
• Funding community engagement initiatives by Monks Create NFT holders (USD 1,500 per month for 3 months )
• Backend wallet support (USD 500 per month for 3 months)
Further details on each of the initiatives can be found here