SIP #2: 2Q23 Budget

Mandate Following the successful launch of $SECT token, the raised proceeds will be responsibly used to ensure that the team has a solid 15-18 month runway with the proper resources to execute swiftly on the “Phase 1: Foundation”, “Phase 2: Scaling”, and “Phase 3: Infrastructure” goals and milestones.

The Sector Budget will be utilized for expanding the protocol’s functionality, maintaining and operating existing smart contracts, and ensuring the safety and correctness of protocol design and implementation. In addition, the budget will be allocated toward marketing, business development, and fostering strategic partnerships to enhance growth and adoption.

The team’s mission is to provide the necessary infrastructure to sustainably scale the ecosystem and onboard the next generation of DeFi users. Our efforts and resources will be dedicated so our community and platform can effectively achieve the goals described in “The Path Forward” (https://medium.com/@Sector_Fi/sector-finance-the-path-forward-d072bda74a84).

Budget Breakdown

Budget Implementation The goal is to stay as lean as possible and not spend the entirety of the budget by the end of the 3-month period. Compensation payments will be distributed at the end of each month via the team’s operations multi-sig.

Reimbursement of the New Order Loan’s for Sector Inception Costs New Order has previously provided a $250K no-interest loan for the team’s initial costs. This includes auditor expenses (Halborn), gas costs, team tooling (hardware & software), and 3rd party contractors for setting up the legal entities and the initial development entity. We note that there will not be any loan repayment in this quarter and will update the community as we finalize repayment terms.

Reporting Every quarter the Sector Team will evaluate the prior quarter’s budget allocation and post the review on the forum for transparency at quarter end. This will help ensure that the next budget RFF is accurate and clearly defined.

Objectives Our team will use a quarterly product overview to allow for accountability whilst preserving flexibility. The team will publish a 'Product Spotlight’, which is an elaborate post to wrap up the past quarter and commit to a focus for the next quarter.

start

May 1, 2023

7:00 PM

end

May 3, 2023

7:00 PM

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