Proposal to extend TWG Allowance for r3gen Consultancy

Forum: https://forum.inverse.finance/t/extend-twg-allowance-for-r3gen-consultancy/251

Background

Following the provisions of Proposal 92, r3gen consultancy has been diligently offering its expertise to Inverse Finance DAO for the previous quarter (March, April, and May). Significant progress has been made, notably in areas such as legal discovery, FP&A work on budgeting and the impending launch of Season 1. For a glimpse into the value delivered so far, such as the DAO’s financial status report, consider reviewing these posts on the Inverse Finance forum:

• Season 1 launch | temperature check
• Inverse Finance - Financial Status @ 31st March 2023

Overview

This proposal seeks to extend r3gen's consultancy services for an additional two-month period (June and July). This extension will facilitate the continuation of critical ongoing projects, including the legal discovery sessions, strategy development and the launch of Season 1. r3gen is committed to maintaining the initial conditions set out in Proposal 92 at a fee of $3200 USDC and $5450 INV on a monthly basis.

As part of the ongoing discovery surrounding legal incorporation options, an additional one-off payment of $3190 USDC is required to facilitate discovery with a legal partner to allow for a thorough exploration of the options available. This will ultimately enable the community to make an informed decision on how they want to proceed.

Given this:

• USDC fee for 2 months: 6400 USDC
• USDC fee for legal discovery: 3190 USDC
• (Upper) Approximate INV fee for 2 months: 350 INV
• Existing TWG USDC Allowance: 4,613,200 USDC
• Existing TWG INV Allowance: 12,355 INV

The requested allowance will be the sum of the current allowance and the impending fees.

On-Chain Actions

In order to actualize this proposal, the following on-chain actions are required:

• Grant TWG allowance of 4,622,790 USDC
• Grant TWG allowance of 12,705 INV