Following the PLP posted earlier this week, we are progressing the Budget Allocation Proposal to the Final Lucidao Proposal [FLP] stage and putting it forward for a vote.
[FLP#0012] presents a budget allocation plan for April and May, a shorter period than usual as the Core Team aims to exercise more precise control over the budget to optimize performance and ROI.
April was previously included in the budget, but unexpected costs emerged, such as increased external designer and legal fees, to expedite the development of new functionalities. As a result, the launch will occur during the F1 Grand Prix in Monaco at an event organized by and for Altr, leading to higher event costs in April as full payment was required in advance.
Since the last update, the Core Team has successfully implemented collateralization and digitization features, requiring extensive collaboration with our partner MME Legal and discussions with other web3 stakeholders regarding liquidity and lending using NFT collateral.
Furthermore, several team members have been working on a revamped Token Economics model, set to be unveiled in the coming weeks. This model will offer incentives for users and the broader web3 community to hold LCD tokens and will seamlessly integrate with all Altr platform functionalities.
Last month, Altr participated in the Monaco Legend Auction, strengthening our partnership with Monaco Legend Group. The event allowed us to connect with collector audiences and showcase our digitization capabilities to prominent collectors. The upcoming Formula 1 Grand Prix in Monaco is set to be a significant milestone for Altr, highlighting our digitization and collateralization functionalities in a prestigious and high-profile setting.
During this exclusive event, attendees will have the opportunity to buy and trade fractions of the Rolex 6265 through a secondary marketplace (see Altr Soft Launch ). Taking place on a luxurious yacht and featuring a hero product that will be released on the platform, the event will not only attract the attention of Oracles and other potential Lucidao ecosystem stakeholders but also captivate the audience with its impressive display.
The Core Team will actively engage with attendees, presenting the platform’s innovative functionalities and demonstrating the value it brings to both the collector community and the broader web3 ecosystem. This prominent event will serve as an ideal platform to showcase Altr’s advancements and solidify our position in the market.
For more information on the F1 event, please refer to this article.
On the marketing front, the Team will continue engaging with both the web3 ecosystem and the collector’s world. We have enlisted an external Marketing Agency to work closely with us in growing the community and Lucidao’s ecosystem. This agency will lead targeted activities such as growth hacking and PR coverage.
Simultaneously, the Team will focus on entering new markets like Dubai and Hong Kong, where the blockchain ecosystem is thriving and potential collaborations can be explored.
LCD tokens are also incorporated into the budget, representing a portion of the Core Team’s salaries and tokens for possible inclusion in giveaways and agreements with marketing agencies.
The summary of operational expenses below outlines key expenditures for the upcoming period, including the marketing agency, the Monaco F1 event, recruitment of a part-time front-end developer, and a contract graphic designer. Legal expenses will remain a significant portion of the costs as we refine the legal framework for collateralization and lending features. An audit of the newly developed functionalities will be necessary before their official release.
Connect your wallet and delegate your tokens on governance.lucidao.com . You will be able to delegate your LCD balance during the next 12 hours.
The above budget allocation will be distributed to an expense wallet: 0x4d1DDF75C15a6b54FbCA91466C8fEcDcf2c4fCb6