This proposal outlines a request for 2 Million sUSD from the Synthetix Treasury DAO in order to fund the early development of the Kwenta protocol.
With the approval of SIP-179, Kwenta has become an independent protocol. As an independent protocol, Kwenta is now responsible for compensating core contributors, as well as any external parties for services provided to the DAO. Monthly Core Contributor costs are estimated to be within the range of 73,000-84,000 sUSD for 6-7 full-time core contributors while monthly operation costs range from 5000-10,000 sUSD. With 2 Million sUSD, Core Contributors would retain their current momentum for a little under 2 years, giving the protocol adequate time and flexibility to establish itself.
Kwenta currently has a small group of Core Contributors which must be compensated for their work. This proposal will enable the senior-most core contributors, soon to become the Core Contributor committee once a formal governance structure is established, to fairly compensate these core contributors, as well as manage any additional expenses required to develop the protocol.
This SIP has a few requirements: The Synthetix Treasury DAO votes in favour of this protocol. The Synthetix Treasury DAO sends the requested 2 Million sUSD to the Kwenta Core Contributor Multisig.
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