Hello Kusama community and council members,
This Tip Proposal is to make up the difference in short fall of the KSM value against the USD between the time Proposal 216 was made and when Motion 562 was passed and paid.
In Proposal #216, I (Josiah Kotzur) requested $30,000 USD worth of funding to go towards wages for the implementation of dropshipping into our protocol for a hoodie test. As well as a $12,000 loan to purchase the 500 hoodies, paid in KSM at the time of the transaction, to be sold to the Community “Not for Profit” as a test.
At the time of submission, KSM was ranging between $41 and $44 and when the funds were received and exchanged the value was $33,859 (excluding exchange fees).
KSM price went down approximately 19%, in the USD value this equated to an approximate $8,140. The hoodies are a fixed price of $12,000 USD and $3,000 drop shipping allocation for 6 months. This leaves our team with $18,860 to pay a budgeted $30,000 in wages, which is a 37% reduction.
This issue was discussed with both @otar.shakarishvili:matrix.parity.io and @raul.rtti:matrix.parity.io at the acceptance motion, but before the 995KSM was paid.
This Tip proposal is for a further 240 KSM to make up the difference for wages.
