dcSpark & related entities currently have about 40 employees. Our size is what has allowed us to build so many protocols in parallel, but also requires a certain amount of funding every Catalyst round
This round of Catalyst does not have much money for the developer ecosystem (one of the primary things we build). To balance it out, we are asking for a loan w/ interest from Catalyst for this round
This is the total amount allocated to dcSpark (the company iteslf)
4/5 milestones complete
This round of Catalyst does not have much money for the developer ecosystem (one of the primary things we build). To balance it out, we are asking for a loan w/ interest from Catalyst for this round.
Notably, we are asking for a 400K loan. The loan will be for 2 years with the following terms:
y1: grace period where no money has to be paid back
y2: paying back the loan month-by-month with an apr of 6% in USD terms
The Cardano treasury has no way at the moment to receive payments, but we have created a Catalyst proposal for this: https://github.com/cardano-foundation/CIPs/pull/269
Interestingly, the interest payments of this loan can be used by the Cardano treasury to, for example, fund grants of other companies which will help fund the continued growth of Cardano
dcSpark the company is itself the product in this proposal
The timeline of the loan is outlined above
The loan will be used to pay the company costs & employees. The money to pay off the loan will most likely come from a mix of revenue from dcSpark products, future grants from companies/ecosystems and, in case this is insufficient, from the sale of dcSpark assets or ownership
The full dcSpark team (https://dcspark.io)
We may take loans from Catalyst in the future either for dcSpark or for other related projects/products, or make similar proposals such as the sale of company equity to the Cardano treasury. We do not, however, intend to pay back this loan with another loan (since that is not sustainable)
Successful payment of the loan
Successfully paying back the loan plus interest which will help other projects grow Cardano with the additional interest funding that Cardano would not otherwise have
No
dcSpark has built many developer tools in products since its creation a little over a year ago. Some of these projects include Carp, Rust SDKs, Milkomeda, Flint, Fracada and many more protocol & tools you can find on our Github