Expenditure Update and Multisig Withdrawal Notice #3

Expenditure Update #3

The DEF’s expenditures generally fall into three categories: grants, internal expenses and operations (employee and grants committee member compensation, rent, insurance, etc.), and external expenses (independent contractors like lobbyists, communications firms, legal counsel, web development, etc.). Please see the expenditure projection the DEF published for more granular details about planned spending.

The DEF’s expenditures during the month of September 2021 were: $22,713 in internal expenses and $36,626 in external expenses.

Close up shot of a credit card and cash.

Multisig Future Withdrawal Notice #3

The committee will withdraw 300,000 $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 8,983,780 $USDC and 499,000 $UNI.

Revamping Expenditure Updates in 2022

Beginning in the new year, we’re going to revamp our expenditure reporting to provide a more granular view of the DEF’s spending now that the organization’s accounting is in order. We’ll publish “backward looking” updates in the revamped format for August-December 2021 so that the disclosures are consistent.