CWG Spending Review
At the conclusion of our budget, the CWG has decided to do an accounting of its finances and how the budget has been spent. The Core Work Group is in a particularly challenging spot to do this considering the fact that the group was seed-funded prior to the formalizing of the work-group system at the inception of the Jupiter DAO, but nevertheless we have embraced this task. The idea behind this post is to create more transparency in regard to workgroup-spending.
Process
In order to understand the movements of the CWG multi-sig, you first have to understand the nature of inflows and outflows. There are several processes involved in this that affect what you see on-chain.
First and foremost is the inflow from the DAO treasury, which is the budget for the CWG. When a budget for a full workgroup is approved, its funding is divided into four equal parts and distributed every three months / at the request of the workgroup. Meaning the workgroup never custodies their full budget amount but rather receives it in intervals throughout the year. The CWG has one additional funding transaction besides this, which is the seed funding received to start working before the workgroup system was created. This seed funding was provided from the Jupiter team itself. In total there is five transactions that account for the brunt of the CWG inflow. They are described below:
| Date | Amount | Asset | Description | Tx link | |
|---|---|---|---|---|---|
| 23.01.2024 | 99,999.50 | USDC | Initial pre-workgroup seed funding for CWG | link | |
| 08.05.2024 | 112,500.00 | USDC | Quarterly budget from DAO treasury | link | |
| 15.09.2024 | 112,500.00 | USDC | Quarterly budget from DAO treasury | link | |
| 15.09.2024 | 150,000.00 | USDC | DAO Microgrants temporary custody | link | |
| 20.12.2024 | 112,500.00 | USDC | Quarterly budget from DAO treasury | link | |
| 26.03.2025 | 112,500.00 | USDC | Quarterly budget from DAO treasury | link |
Inflow
As mentioned above, the CWG has had 5 major funding inflows, excluding the temporary custody of the microgrants initiative that was later separated into its own multi-sig. We’ve also had some transactions to add SOL for tx fees, some temporary custodies and a few reimbursements from the Jupiter team for expenses we have covered or fronted. This includes Solana Crossroads in 2024, extra moderation expenses to cover Jupuary, legal fees relating to setting up a DAO entity and similar. All the inflow transactions can be found in the table below.
Inbound Transactions
| Date | Amount | Asset | Description | Tx link |
|---|---|---|---|---|
| 27.01.2024 | 0.20 | SOL | SOL for TX fees | link |
| 30.04.2024 | 0.05 | SOL | SOL for TX fees | link |
| 07.11.2024 | 0.01 | SOL | SOL for TX fees | link |
| 26.02.2025 | 8,800.00 | USDC | Reimbursement from team, moderator jupuary bonus | link |
| 26.02.2025 | 6,000.00 | USDC | Reimbursement from team, DAO entity legal work | link |
| 22.12.2024 | 3,500.00 | USDC | Comp repayment due to role change | link |
| 18.07.2024 | 20,000.00 | USDC | Reimbursement from team, Solana Crossroads | link |
| 13.05.2025 | 1,667.00 | USDC | Temporary grant custody | link |
Outflow
Most of the CWG’s outflow is composed of salary and expenses. There are however a few other misc items. This includes grants paid out prior to establishing a standalone multi-sig for the grants system, intermediary grants for minor initiatives, transactions wherein the CWG has fronted team expenses for events and alike due to coordination efforts and other types of costs mentioned in our initial budget request.
Outbound Transactions
| Date | Amount | Asset | Description | Tx link |
|---|---|---|---|---|
| 27.02.2024 | 27,800.00 | USDC | Jan-Feb compensation | link |
| 28.03.2024 | 25,500.00 | USDC | March compensation + mods | link |
| 24.04.2024 | 20,000.00 | USDC | Solana Crossroads - Jup Juice + Grand Partnership | link |
| 02.05.2024 | 26,699.50 | USDC | April compensation + mods | link |
| 08.05.2024 | 5,008.00 | USDC | Remaining April Compensation + subscription expenses | link |
| 27.05.2024 | 30,900.00 | USDC | May compensation + mods | link |
| 28.06.2024 | 30,700.00 | USDC | June compensation + mods | link |
| 15.07.2024 | 1,500.00 | USDC | J&J Microgrant | link |
| 30.07.2024 | 29,700.00 | USDC | July compensation + mods | link |
| 30.08.2024 | 34,400.00 | USDC | August compensation + mods | link |
| 28.09.2024 | 32,550.00 | USDC | September compensation + mods | link |
| 31.10.2024 | 49,300.00 | USDC | October compensation + mods, several grants | link |
| 31.10.2024 | 6,000.00 | USDC | Grant distribution(Thread University) | link |
| 03.11.2024 | 8,000.00 | USDC | Grant distribution(DJJ) | link |
| 07.11.2024 | 126,000.00 | USDC | Moved grant funds into grants multisig | link |
| 09.11.2024 | 150.00 | USDC | Event reimbursement for grantee | link |
| 1.12.2024 | 26,850.00 | USDC | November compensation + mods | link |
| 16.12.2024 | 3,070.00 | USDC | Catstanbul / Contributors Event Merch | link |
| 22.12.2024 | 33,350.00 | USDC | December compensation + mods | link |
| 07.01.2025 | 10,000.00 | USDC | Design Grant for Catstanbul (Signage, illustrations) | link |
| 22.01.2025 | 8,454.63 | USDC | Contributors Event + Logistics | link |
| 31.01.2025 | 330.00 | USDC | Catstanbul Closing Celebration Dinner /w workgroups | link |
| 31.01.2025 | 34,750.00 | USDC | January compensation + mods, mod bonus for jupuary | link |
| 06.02.2025 | 1,500.00 | USDC | Moderator compensation | link |
| 11.02.2025 | 2,000.00 | USDC | Various subscription and expenses | link |
| 20.02.2025 | 1,000.00 | USDC | CWG intermediary grant, minor initiative | link |
| 25.02.2025 | 6,000.00 | USDC | Legal fees, work towards DAO entity | link |
| 01.03.2025 | 25,350.00 | USDC | February compensation | link |
| 31.03.2025 | 30,000.00 | USDC | March compensation | link |
| 03.04.2025 | 2,000.00 | USDC | CWG intermediary grant, minor initiative | link |
| 14.04.2025 | 100.00 | USDC | Newsletter help | link |
| 25.04.2025 | 30,000.00 | USDC | April compensation | link |
| 04.05.2025 | 100.00 | USDC | Newsletter help | link |
| 27.05.2025 | 28,100.00 | USDC | May compensation | link |
| 31.05.2025 | 3,334.00 | USDC | Temporary custody, grant | link |
Compensation
The CWG has changed its constellation of workers multiple times throughout the year, and the people internally have also changed their involvement between full-time, part-time, contributors and similar for various reasons. During most of the year, the CWG also handled compensation for the Discord moderation team which fully evolved into the Jupiter support staff in February of this year, so the compensation month-by-month is not necessarily a static value.
CWG Funding was approved April 2024 and was aimed to last until April 2025. The initial seed funding was 99,999.50 USDC.
The funding period of the CWG officially began on the first day of Q2 2024 with an approved budget of $450,000.00 USDC. $320,000.00 USDC allocated for compensation, $30,000.00 USDC for moderation and $100,000.00 for hiring additional help and members, and various misc expenses outlined in our initial budget proposal.
While we originally allocated for a budget to last a year’s period of time, it was enough to last for an additional 3.5 months of work.
In the end, we did go over for the moderation cost bucket. The amount set to pay the moderators was $30k within the original proposal. However, we ended up paying them $17,900 above this amount for various bonuses and unanticipated moderation changes. Although half of this cost was reimbursed by the team, the entire amount was not, so this ate from some of the other buckets
One final thing left to understand is that the CWG has on a couple of occasions incurred some surplus due to team changes, overflow budget and alike. What remained of the CWG budget post April 2025 has been spent to extend the groups runway for 3 and a half months approximately with our funding due to expire around mid-July.