Context & Previous Budget Approval
In September 2024, the DAO approved under TFIP-19 a six-month budget of $1,175,000, based on an estimated annual operational cost of $2,100,000 under TFIP-19. This included:
- $925,000 for operational expenses (half-year funding based on projected costs).
- $250,000 for the Legal Reserve Fund (allocated for a full year).
Current Status & Budget Performance
- The Legal Reserve Fund currently remains unutilized. ($250,000)
- We operated below the allocated budget for the initial six-month period, demonstrating our commitment to fiscal responsibility and strategic resource allocation. ($140,000)
- A detailed financial report for Q4 2024 is already included in the TrueFi DAO 2025 Report.
- We will provide another budget report at the end of Q1 2025 for transparency on the upcoming period.
Budget – Financial Overview
- This proposal requests six months of operating expenses to support core functions such as governance, operational costs, and community initiatives. The budget accounts for the necessary funding to maintain operational stability and strategic development, with an estimated total of $994,000 for the upcoming period.
- The proposed budget will take a ~30% earmark in TRU’s token price at the execution of the proposal before being swapped into stablecoins. This is to account for price fluctuations before the TRU-to-USDC/USDT conversion.
- Any excess funds will be reported to the DAO at the end of the six months.
The purpose of this improvement proposal is to provide a use of funds to bridge the gap for the current operating team, and budget request for future improvements to the TrueFi ecosystem in three (3) main areas (I.e., product , business development, and protocol research). These improvements will be implemented across two new (2) workstreams:
- TrueFi Front-end Product Overhaul – UI and UX improvements to the front end product beyond aesthetics, as these changes directly impact user adoption, retention, and overall protocol efficiency.
- Research Analyst Hire (Part-Time) – A strategic force multiplier who enables marketing, business development, operations, and the community to work in sync via data dashboard creation and maintenance, product demos, content strategy execution, as an auxiliary generalist resource.
We are working with our agency partners (Flod) to deliver the designs and new branding which will be implemented on the TrueFi front end by Akemona. The current expiry for Akemona partnership is mid-Q2 2025 which aligns with when we plan to have all front end changes in production. We are highlighting the new branding and UI/UX via social media, coupled with long form research.
Estimated Budget in USD:
| Position/Item | Annual | Half year |
|---|---|---|
| Operations Head (x1) | $150,000 | $75,000 |
| Product Manager (x1) | $150,000 | $75,000 |
| Business Development (x1) | $150,000 | $75,000 |
| Full Stack Engineers (x2) | $400,000 | $200,000 |
| Marketer (x1) | $100,000 | $50,000 |
| Directors Fees | $120,000 | $60,000 |
| Research Analyst (x1) | $36,000 | $18,000 |
| Community Moderator (x1) | $3,000 | $1,500 |
| Designer (UI/UX) | $108,000 | $54,000 |
| Operational Infrastructure | $10,000 | $5,000 |
| Team Travel | $36,000 | $18,000 |
| Marketing/PR | $35,000 | $17,500 |
| Events | $40,000 | $20,000 |
| Legal and Compliance | $500,000 | $250,000 |
| Financial Admin and Audit | $150,000 | $75,000 |
| Total Expenses | $994,000 |
Breakdown by Cost Center is as follows:
| Cost Center | Q2 2025 | Q3 2025 | Total |
|---|---|---|---|
| Finance | $37,500 | $37,500 | $75,000 |
| Legal and Compliance | $125,000 | $125,000 | $250,000 |
| Managing Operational and Business Development Costs | $281,000 | $281,000 | $562,000 |
| Marketing and Community Management, Community Team Onboarding, and Social (IRL) Outreach | $44,500 | $44,500 | $89,000 |
| Team Travel for Regional Representation | $9,000 | $9,000 | $18,000 |
| Legal Reserve Fund | N/A | N/A | $0 |
| Investment Vehicle Creation | N/A | N/A | $0 |
| Projected Operational Cost | $497,000 | $497,000 | $994,000 |
This budget ensures continuity of operations while maintaining cost discipline and alignment with previously approved financial plans.
We are working with our agency partners (Flod) to deliver the designs and new branding which will be implemented on the TrueFi front end by Akemona. The current expiry for Akemona partnership is mid-Q2 2025 which aligns with when we plan to have all front end changes in production. We are highlighting the new branding and UI/UX via social media, coupled with long form research.
| Projected Operational Cost | $994,000 |
|---|---|
| Reallocation from the TFIP-19 | -$140,000 |
| Budget Funding request | $854,000 |
| ~30% earmark | $256,200 |
| Total Funding request | $1,110,200 |
| TRU price | $0,03761 |
| TRU minting request | ~29,519,000 TRU |
Next Governance Steps
As the proposals does not fall under the simplified governance exemptions, the proposal will require the following steps:
1. Forum Posting: A 72-hour posting period on the forum to allow the community to provide feedback.
2. Snapshot Vote: A 48-hour Snapshot vote will be conducted with the options: “OK to vote on Tally,” “Not OK to vote on Tally,” and “Abstain.” At least 5% of staked TRU must participate in this Snapshot vote to meet the quorum.
3. Amendment Period: If the 5% quorum is met, with a majority negative vote, a 72-hour period will follow to allow for any amendments or discussions before the proposal is posted to Tally.
4. Tally Vote: Otherwise, the proposal will be posted to Tally for the final vote.