Following the ratification of several initiatives by the DAO during recent voting cycles, September was the first reporting period for quite a few initiatives. Three new initiatives were able to complete their onboarding in time enough to commence activities and report in this period.
Similarly, there are four initiatives which are actively undergoing onboarding activities, including the execution of funding agreements and KYC/KYB verifications. Ideally, these initiatives should provide reporting updates in October.
The approval of the transition period for the committees and council structure presents a new chapter for Safe DAO Governance. While we are excited about this development, we recognise that it will inevitably reshape the way OBRA and initiatives are funded and operate.
During this transition period, OBRA initiatives will be paused for one sprint, as the DAO attempts to iterate upon and steer towards full implementation of the proposed structure. However, although no new OBRA funding initiatives can be submitted during this period, already approved initiatives are not affected.
Applications
The total number of OBRA proposals has remained unchanged since the last reporting period. To date, a total of 34 proposals have been received, with 19 being accepted and ratified by the DAO via Snapshot voting. Accordingly, the distribution of OBRA proposals across the various OBRA strategies has remained static.
There are currently no applications being voted on in Snapshot.
As always to find the updated list of OBRA proposals and their details, see our Notion Hub here.
Financials
OBRA Financials Overview
As of this reporting, OBRA has promised $616k in funds to onboarded initiatives to be transferred over their duration of operations. The total amount of funding that will be distributed to initiatives this period is ~$100k USD.
| Initiatives Accepted* | September Payouts | USD Value Promised | USD Value Transferred |
|---|---|---|---|
| 21 | $100,400 | $616,500 | $566,841 |
*Budgeting accounts for accepted and onboarded projects to date
Initiative Outcomes
September saw 2 projects complete milestones for a total of 2 achieved milestones.
| Initiative | Milestone Completed |
|---|---|
| Curia | Milestone I: Report VI |
| Lighthouse | Milestone I: Design UX Sprint |
Two initiatives have been affected by the latest developments in the ERC-7579 standard—a universal standard that allows modular interoperability for smart accounts.
The ongoing work in the ERC-7579 space to standardize session validation via a new Smart Session module will result in the deprecation of some existing modules which two initiatives (Zenguard; and Cometh, Gnosis Guild & OneBalance) intended to rely upon for their work.
Consequently, milestone deliverables from both initiatives are delayed from progress. Both initiatives may potentially be required to rescope their milestones, depending on feedback and approval from the Safe Governance team. Should rescoping be the final outcome, both initiatives will report to the DAO.
These updates, along with more details on the progress of OBRA initiatives for the past reporting period, will be reflected on our CES Reporting Summary page here.
CES Resources
For this months reporting: Reporting
For all CES Updates: Notion
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