Information about DIF November 2021 asks

Darren

Active Member
Aug 3, 2016
215
170
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New Hampshire
www.darrentapp.com
I didn't know if this was displaying properly on dash central. Here's an alternative source of the November DIF proposal information.

Dear Network,

This proposal is part of two proposals submitted for funding this cycle.

  • DIF ongoing funding (300 DASH Nov-Jan)
  • DIF suplemental funding (400 DASH Nov only)

Our book keeper has prepared our Q2 balance sheet and profit and loss statement. Please find these below. After those statements you can find an update about Q3 and Q4 activities.




The sheets above are through Q2. The equity in ReadyRaider was reported at a
different valuation in Q2 because supervisors identified a reporting
error early on. The new valuation was the value of the Dash as
ReadyRaider received it. This valuation change is only for reporting and
should not reflect on ReadyRaider as a business. The closing of
Valkyrie's Series A valued the DIFs equity at a multiple. You may notice
2.7 BTC on our balance sheet. This was set aside for the purchase of
rune of THORChain. Those purchases began shortly into Q3.

In Q3 the DIF was very active with meetings, however our financial situation
was not that eventful. The DIF offered a $50k line of credit to CrayPay
secured by Dash and giftcards. The DIF felt the banks could not
accurately price the risk of accepting Dash as there is no charge back
risk with Dash. The DIF offered to provide credit at a lower interest
rate compared to the banks. CrayPay also made an interest payment (in
Dash to the DIF) in Q3. In Q3 the DIF also invested an additional $100k
in CrayPay. Two main reasons for this is we learned that CrayPay is even
stronger of a business than it was a year ago. We were also pleased
with the delivery of DashDirect.

In Q4 we have invested $450k in two companies, we are waiting on the green light from our new partners before we disclose them.

Expenses in general

From our profit and loss statement, you can see the management costs in
Q1. Two of these items are for each of our directors. The smaller item
is for the secretary which is a company qualified to house DIF
documents. This expense is annual and I expect the DIF will pay for this
service again in January.

Please consider funding this proposal. Funding we receive directly effects our strategy.

--Darren