Introduction
With the recent announcement of Gitcoinâs restructuring, the MMM team will be winding down operations at the end of February. In this post, weâll outline next steps to make this transition as smooth as possible and take a moment to reflect on the journey of this workstream.
Finances
At the time of this post, MMM has an aggregated balance of over $300,000, composed primarily of:
- 261,991.095 GTC
- 8,843.135 USDC
- 3.395 ETH
Expected expenses in the month of February will total around $100,000, including:
- Wages for contributors (approx. $87k)
- Opex costs (approx. $3k)
- Contractors (approx. $2k)
- Whitepaper research (approx. $7k)
This means that MMM will not need to request additional funding in order to wind down, and will return any surplus funds back to the Gitcoin treasury.
Another important note is that funds for EthDenver will also be landing in the multisig, and expenses are being tracked meticulously. As per that original proposal, any unused funds will be sent back into the treasury (of which we are expecting to do since Electric Capital has agreed to partner with us on our keystone event).
Once funds have been paid out in full, a final report will be added as a comment to this post including total expenses and amount being sent back to the Gitcoin treasury.
From Art Project to High Performing Team
It is truly incredible to think about the journey of MMM. What started as a Gitcoin Grants art project eventually morphed its way into a tight-knit, high performing marketing team. So many amazing people contributed along the way and Gitcoin is incredibly fortunate to have had those contributions.
As a final âfarewellâ, the MMM team will be hosting a âSpin Down Partyâ in the way it knows best - a Memepalooza. For those unfamiliar, one of MMMâs early projects was running a meme-creation event called Memepalooza (of which we ran over 10!). Not only will we be spinning up great memes and giving out prizes, weâll also take some time to reflect on the amazing journey that was the MMM workstream from both current and past contributors.
The event will take place in the Gitcoin Discord server in the DAO Community voice channel on Wednesday, March 13 at 18:00 UTC (1pm ET, 19:00 CET). Users must have a DAO Citizens tag to participate.