Finalizing the first grant cycle

Moving from call notes:

To do

  • Gather data (@bumi)
    • Kredits earned per contributor during cycle
    • Overall confirmed kredits per contributor
  • Calculate monthly expense budget for agreed-upon runway timeframe (12 months?)
    • 200 EUR/month guesstimate, take sats value of payout calculation day
  • Create spreadsheet with payout calculation (@raucao)
  • Add first expense reimbursement to spreadsheet file (@raucao)
  • Gather bitcoin adresses of contributors who want to be paid (reserve sats for everyone else)
  • Create bitcoin batch transaction for grant payouts`
    • Sum up monthly payout and “dividend” payout per contributor
  • Create bitcoin batch transaction for expense reimbursements
  • Have 3 core contributors sign the txs, then broadcast them

I have added a sheet for the first cycle to the budget file, which so far has variables for all the basic numbers and calculation of available budget. Only thing missing is the actual payout calculation.

budget.ods (34.5 KB)

Edit: Uploaded again. Purple numbers are variables you can change. Added cycle budget, improved wording.
Edit 2: Sorry, uploaded yet another version. Changed everything to be BTC instead of sats and only round to 8 decimals in the very end.

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New version with payout calculation:

budget.ods (32.5 KB)

Not sure I’m understanding the spreadsheet correctly. “Grant cylce 1” is the November actions right? Did we all just happen to get earn 10k credits or am I missing something?

That’s just a placeholder number, because we’re still waiting for the real numbers. The important thing is the calculation, which is now ready for action.

It is also still missing the 2020 expenses to be deducted before we can calculate the real budget left.

I have split up the files into 3 now, after adding expenses and reimbursement sheets. The old file is back to just being the guessing game, while expenses.ods has expenses and reimbursements, and contributor-grants.ods contains the grant cycle data and calculations.

budget.ods (38.1 KB)
contributor-grants.ods (18.0 KB)
expenses.ods (26.6 KB)

With the help of @greg I have also finalized the first reimbursement documentation, for expenses paid in 2020, as agreed before. In addition to the source file, you can also find it here (will update IPFS CID after completing payout data):

Mid-market-rate conversions are 0.08640840 for 1663.07 EUR and 0.00258000 BTC for 60.00 USD, resulting in a reimbursement sum of 0.0889884 for the 2020 expenses. I will create a multi-sig tx for that, which 2 more people need to sign for completion. The receiving address will be 3ANCzotg5HAP4zN77BFyESuD2tsB2TEJLT.

transaction got broadcasted, transaction id: 0ca86c07736a9f629544e1d152c89f28f82834058bb09153114d45561f68bd06

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Everything is ready now. We are only missing the actual kredits numbers and some bitcoin addresses (@bumi @slvrbckt @fsmanuel).

Here’s the latest version of the grants sheet:

contributor-grants.ods (18.5 KB)

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Here’s my address: bc1q0ey8kdtn6kpq2p68t3cncarw4j6gp2jcydxlxr

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@bumi Any ETA on the numbers?

I got this PR:
but I still don’t know why the numbers are different.

Here are the details for cycle 1 + 2 (until 2021-01-01)

Cycle 0: everything before Block 7472072 (Nov-01-2020 02:00:09 PM +UTC)

Bumi: 52000
Rau Cao: 177500
Manuel: 4500
galfert: 68500
Greg: 119000
Nick: 32500
haythem96: 13000
myamy: 500
Bilal Ghalib: 500
KaleabMezgebu: 500
Jon Stever: 1000
velasquez: 500
Ben Kero: 1500
hcs0: 500

Total: 472000

Cycle 1: Between Block 7472072 and 7644352 (Dec-01-2020 02:00:02 PM +UTC)

Bumi: 7500
Rau Cau: 24000
galfert: 8000
Greg: 9000
Nick: 17500

Cycle 2: Between Block 7644353 (Dec-01-2020 02:00:17 PM +UTC) and 7818811 (Jan-01-2021 02:00:00 PM +UTC)

Bumi: 201000
Rau Cau: 222500
Manuel: 200000
galfert: 202000
Greg: 211000
Nick: 203500

Total: 1240000

without initial Kredits (200000) issuance:

Bumi: 1000
Rau Cau: 22500
Manuel: 0
galfert: 2000
Greg: 11000
Nick: 3500

Total: 40000

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Great! Updating the sheets now…

Edit: wait, I’m slightly confused now. Could we discuss this in chat real quick?

Edit 2: @bumi You seem to be offline now in chat. So let’s discuss here:

  1. I think we’re missing the kredits earned during cycle 1 in these numbers. I see total kredits from all contributions up to the end of cycle 1, but not the actual kredits confirmed during the cycle (as we cannot use the previous total to calculate that with the very first cycle)
  2. I remember us planning to use block numbers that account for the confirmation period. I.e. kredits confirmed in cycle 1 would be one week delayed from the 1st of the month. No?

You are very right. we need the numbers from Nov-01 to Dec-01 for the first cycle.

EDIT: updated the list above.

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Could you just comment on the second question, too? The way it is now, we kredit contributions made between one week before the cycle up to one week before the end of the cycle, no?

hmm, not sure if I got that correct/remember that correct.

the numbers above show the confirmed kredits within that cycle. - it compares the block number stored in the contribution.
Which I think basically is what you describe?
A contribution that confirms on December 1st. was made a week prior to that.
A contribution made on December 30th confirms in January, so that one is not included in the December cycle.

Is that correct?

I remember us planning to have the contribution cycles correspond roughly to actual months, hence wanting to change the block numbers to one week after the rough cycle-month time frame. But apparently I’m the only one remembering that then, so I might be wrong about it.

I can see why we wanted to do it, of course. It seems much clearer to think about cycles in terms of calendar months (even if they don’t match exactly over time), than it is to plan with “January 7 to Feb 6” and such. Long-term, those shifts can amount to a week or more, of course, so maybe starting out with random calendar dates is also fine.

I remember the reason, too.

ok, not sure what it means.

so we say contributions in December - meaning we use December 1st + 40320 blocks (1 week) to January 1st + 40320 (1 week).
thus all contributions are in that have been CREATED within December.

if so, I have to adjust the numbers above again. sorry.

I’d prefer it, but not sure if everyone agrees or what we actually decided there. We need to get better at taking notes during the calls.

@galfert @greg @slvrbckt WDYT?