In line with most other delegates, we are in support of allocating DAO capital towards funding Laita.
But we’d like to add a further caveat to this statement. We see no reason not to support Laita since from an external perspective, we see the team executing on Velora’s development. However, it would be nice to gather a more detailed look into how this capital is meant to be used beyond the broad strokes auditing and marketing buckets mentioned above. This isn’t a matter of not trusting Laita—but simply a matter of principle, where the entity funding Laita should have increased purview as to how funds are meant to be utilized. The format of this can be debated, and there’s no need to conduct a line-by-line disclosure, just a general overview that goes a bit beyond two broad buckets. To obfuscate these financial details to a degree, it may be worth hosting office hours once in a while with the Laita team to gain insight as to how the funds are being used. Perhaps before this proposal goes to vote, we can have a quick roundtable between Laita and delegates that are a part of the compensation program? We’re open to ideas.
The other aspect that’s slightly unclear is how Laita intends to interface with the DAO going forward, given their existing financial situation.
Since the requested funding amount only covers a portion of total operating costs, how are the remaining costs currently being covered—solely via the original PSP allotment? Is the intention to increase Laita’s funding using protocol revenue in the future, making it the sole source of funding for Laita? This brings us to the final and perhaps more pressing question: why is the timing for this proposal now? The hunch is that it’s based on internal runway projections. It would be helpful to understand what the financial situation of Laita is generally at the moment so we can best understand how much the team needs and what the increase is funding requests could look like over time. The purpose of this question is not because we think the ask is too high—it’s because we want to understand if the Laita team is properly being given the resources they need to cover short to medium term liabilities so that Velora growth and development is optimally addressed.