DIP-6: Amendment 5
Last updated
Last updated
Headline: Approving a budget for protocol development and operations in 2025
Author: The DIMO Foundation
Submitter(s): The DIMO Foundation [0xCED3c922200559128930180d3f0bfFd4d9f4F123]
Status: Review (until December 23, 17:00 UTC)
Voting URL: Pending
Discussion Forum: Discord #🗳️governance forum
Vote Type: Level 1
This amendment updates the DIMO Foundation expense budget for the calendar year 2025, earmarking up to $6,768,000 USD equivalent. All intellectual property produced for hire must either be owned by the DIMO Foundation, perpetually licensed to the DIMO Foundation, or open sourced. All spending from this budget of any sort must be primarily for the benefit of the DIMO protocol.
DIMO made incredible progress in 2024. In addition to surpassing 100,000 minted vehicles, we saw the launch of the new global wallet system featuring account abstraction; the first public version of the DIMO Developer Console and ; the next generation DIMO LTE R1 device, and many other less flashy improvements. It is also expected that the staking and multichain upgrades will be completed in 2024 or early 2025.
In 2025, the DIMO Foundation anticipates funding work on: new vehicle data types (e.g., video, files, credentials); expanded SDK functionality (e.g., a vehicle simulator, plugins); tools for third parties who want to run independent DIMO data storage nodes; tools for third parties who want to host integrations that will serve to connect more vehicles (e.g., automakers who want to connect cars to DIMO OTA or device manufacturers building new DIMO-compatible hardware); an onchain DIMO app store and payments infrastructure; and more.
// If passed, this proposal would replace the entirety of the Resources and Budget sections within the DIP-6 Specification.
Resources
As of November 23, 2024, the DIMO Treasury contains $6,900,206 in USD and stablecoins, as well as 4541,926,792 $DIMO tokens (144,411,970 of which are not yet earmarked for any purpose). DIMO Foundation onchain wallet balances can be found here.
Expense Budget
The DIMO Foundation is authorized to spend a maximum of $6,768,000 USD equivalent on operations and development in the calendar year 2025. Note that this is an expense budget only and revenue may decrease or entirely erase the net operating loss.
All intellectual property produced for hire must either be owned by the DIMO Foundation, perpetually licensed to the DIMO Foundation, or open sourced. All spending from this budget of any sort must be primarily for the benefit of the DIMO protocol.
R&D, marketing, customer support, and admin contractors — Maximum annual spend: $4,080,000
Covers entities who are engaged by the DIMO Foundation to contribute to protocol R&D, marketing, customer support, and administrative projects.
Any payments to Digital Infrastructure Inc., a labs entity that originally created the DIMO protocol and continues to contribute to its development, must not exceed a 10% markup on the fully loaded cost of personnel who are actively working on DIMO marketing, intellectual property for the protocol, or open source software that significantly benefits the protocol.
Connectivity — Maximum annual spend: $1,680,000
Rather than charge users for their monthly connectivity costs of AutoPi cloud, Smartcar, and Tesla connectivity fees, the DIMO Foundation agrees to fully or partially cover up to $1,680,000 USD worth of monthly vehicle costs at its discretion.
This expense budget line item is only unlocked if DIP-3 Amendment 2 passes, as this proposal requires applications, such as DIMO Mobile, to pay per month to access vehicles. These fees could partially or entirely offset this expense.
The goal of this is to keep things cheaper for developers who don't have to worry about connectivity as much, or to prevent developers from having to pass costs on to users too early, limiting growth. When the quantity and quality of apps in the DIMO ecosystem increases, it will become easier to build profitable applications and/or more practical to pass these costs on to drivers. This proposal authorizes this expense for 2025 only; it's neither guaranteed nor expected that this subsidy would continue into 2026.
Legal, insurance, and registrations — Maximum annual spend: $108,000
This is a conservative estimate for the total amount required for miscellaneous administrative expenses. The expected spend is about half of this amount.
$DIMO Availability — Maximum annual spend: $900,000
It's important that the $DIMO token is readily available for those who want to participate in the network. This expense line item is for activities related to ensuring ample availability.
This budget pool is distinct from those authorized in other DIPs such as Baseline Issuance, Grants, Marketing, and Referrals. The DIMO Foundation is responsible for coordinating with all subdaos to ensure that no third party is paid twice for the same work.
If passed, DIP-6 would be updated as specified above after the four day timelock concludes.
Copyright and related rights waived via CC0
Please cite this document as:
The DIMO Foundation, "DIP-6: Amendment 5", November 2024. [Online serial]. Available: [https://github.com/DIMO-Network/DIP]
The contract addresses for $DIMO are 0x5fab9761d60419c9eeebe3915a8fa1ed7e8d2e1b on Ethereum and 0xE261D618a959aFfFd53168Cd07D12E37B26761db on Polygon. Please always confirm that you are interacting with these contract addresses and not those of a fraudulent imitator. This proposal may not be enacted if it violates Cayman Islands law. Please triple check that any communications are authentic as it’s common for scammers to try to trick you into sending them crypto or into revealing your private keys.
Certain statements in this document constitute forward-looking statements. The words “may,” “will,” “should,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “expect,” “continue,” and similar expressions or the negatives thereof are generally intended to identify forward-looking statements. Such forward-looking statements, including the intended actions and performance objectives, involve known and unknown risks, uncertainties, and other important factors that could cause the actual results, performance, or achievements to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and nothing in this document represents a promise of specific work to be completed in the future.
