Please see here for a link to the Foundation’s budget for 2023, PNF’s finalised balance sheet as of 31 December 2022 and PNF’s P&L for 2022.
What is the philosophy behind the budget?
There is a quote - sometimes attributed to Ann Winblad - that is apt when it comes to resource allocation, “you are always going to be short of people, always short of money; always short something of value, so you have to find leverage points”.
Our immediate call to action at PNF is to execute the mandate set out in our “Foundation for the Future” post to establish “a credibly neutral entity who can support [Pocket Network’s] stakeholders and bolster the efforts of the DAO”.
In other words, we believe that Pocket’s community is the point of maximum leverage in the Pocket Network ecosystem. And, everything in PNF’s budget for 2023 - outside of mandatory administrative and compliance costs and essential infrastructure like Copper Custody fees - is intended to answer the question of what investments we can make that will maximally leverage Pocket’s community.
As you will see from the budget, these investments primarily consist of forming a team of leaders that can work with the community to unlock them and amplify their efforts via grants and direct support.
These investments into our team and the community will set us up for successfully executing our public roadmap, which we plan to share next week.
How do we plan to keep ourselves accountable?
It is vital that we engage in two-way conversations around problems and opportunities in the ecosystem and keep everyone up to date with the latest in our roadmap.
We will work with the community to develop a set of metrics to hold ourselves accountable. This workstream will take place immediately after the initial phases of Project DNA are completed in the coming weeks.
Additionally, we will release our first quarterly transparency update before the end of this April and quarterly thereafter. And we will seek DAO consent for any “special transactions” or any spending that falls outside the budget’s remit.
@JackALaing will share more details soon on our strategy for ensuring we effectively make ourselves available to the community. In the short term, we will engage with the community via the foundation category here on Pocket’s forum, Discord, and the community Telegram channels. We are open to feedback from the community on how best to do this, and we welcome ideas for any other communication mediums the community would find beneficial.
As a reminder, as stated in our conversations with the community before the proposal on the new PNF went to vote:
Please review our budget, and feel free to ask us if you have any questions. In addition, you will see some commentary included directly in the spreadsheet on a separate tab under various relevant headings.
We are excited to get going and invest in Pocket’s future!
Dermot, Jack, Nelson, Ben, Ming