As OBRA wraps up voting for Sprint 1 in Season 3, we’re excited to share the batch of reporting updates from June. There are now 12 accepted projects, with two in the onboarding/KYB phase aiming to begin operations in July.
Following the OBRA budget amendments from the end of Season 2, the remaining budget has been allocated across all 6 OBRA strategies. In turn, this has prompted an uptick in applications and forum discussion around OBRA. Accordingly, there are currently 5 active votes on Snapshot for new OBRA initiatives, so if you haven’t yet, remember to cast your choices before the July 8th deadline.
Finally, thank you to everyone who joined the OBRA community call earlier this week. We took a moment to highlight the state of OBRA, including learnings from the OBRA Retro which was conducted towards the beginning of Season 3. The bulk of the session was reserved for OBRA initiatives to share updates on their progress, including demos and future goals. If you weren’t able to join the session, you can find the full recording with timestamps here.
Applications
OBRA has received 24 total applications to date, 12 of which have been accepted into the program. Of these applications, roughly 84% of all applications covered Strategies 5, 3, and 2. Notably, while unsubscribed for a few months, Strategy 4 (Research decentralization of Safe tech stack) has received its first few applications. As mentioned above, there are currently 5 active votes on Snapshot for new OBRA initiatives.
Financial
Reporting date: July 2nd, 2024
As of this reporting, OBRA has promised $576k 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 $129k USD. This marks a significant dip from last month’s dispersement as May included in addition to regular funding, backpay for work done in prior months.
OBRA Treasury Overview 
| Initiatives Accepted* | OBRA Treasury Unallocated | USD Value Promised | USD Value Transferred | % of OBRA Promised Funds Transferred (USDC) |
|---|---|---|---|---|
| 11 | $594,000 | $575,500 | $369,960 | 64% |
*Budgeting accounts for accepted and onboarded projects to date
Initiative Outcomes
| Initiative | Milestone Completed |
|---|---|
| Curia | Milestone I: Report II |
| LuukDAO: Safe Token Utility Sprint 1 | Milestone II: Organization & Options Assessment |
| ZenGuard: Module Publishing, Audit Attestation Platform and Marketplace | Milestone I: Module Developer Onboarding |
In June, three milestones were achieved from three different initiatives. While this number has dipped slightly from May, there are many milestones hung up on valid blockers which hope to be resolved within the coming weeks, and accordingly OBRA should realize another strong month of milestone accomplishments in July.
Additionally, ZenGuard’s first milestone for developer onboarding was rescoped from initial proposed total to 15 developers + 3 independent projects. The reasoning for the rescoping was unforeseen long lead times in both developer onboarding and initial collaborating, as well as focusing on more quality outcomes. This rescoping was accepted by the CES and Safe Governance teams for the aforementioned rationale and the disclaimer notice on this milestone in initial proposal. To read more details on this rescoping, see here.
A reminder that funding is not tied to milestone completion, but rather to the expected duration of each initiative, with checks and balances in place to ensure that projects continue to deliver their promised milestones at a reasonable pace.
If you’re interested in reading more details on the progress of OBRA initiatives for the past reporting period, as well as individual June reflections from each active OBRA initiative, check out our CES Reporting Summary page here.
CES Resources
For this months reporting: Reporting
For all CES Updates: Notion