DEF Expenditure Update and Multisig Withdrawal Notice #6

Expenditure Update

The DEF’s expenditures generally fall into three categories: grants, internal expenses and operations (payroll, insurance, overhead, etc.), and external expenses (independent contractors like lobbyists, lawyers, web development, etc.).

Between January and February 2022, the DEF distributed $187,792 to fund our Fight for the Future grant and DeFi Fellowships at the Wilson Center and the Cato Institute. The DEF’s external expenses were $140,831.89 and $143,741.32 in January and February, respectively, which are primarily lobbying and policy expenditures in the U.S. and Europe. The DEF’s internal expenses in January and February were, respectively, $62,505.01 and $61,504.55. We’ve been more conservative than the October projection and will publish an updated projection before June 1, 2022.

Multisig Future Withdrawal Notice

Going forward, we’re aiming to complete a multisig withdrawal every ten to twelve weeks instead of every four weeks. The committee will withdraw 615,000 $USDC and 0 $UNI from the DEF’s multisig to fund upcoming grants and expenses. After completing this withdrawal, the DEF’s assets held in the multisig will be 7,743,780 $USDC and 499,000 $UNI.