TIP-104: Threshold Labs Year-1 Budget & Milestones
AI summary
This proposal, TIP-104, requests a budget of $2.85 million for Threshold Labs (tLabs) for its first year of operations. tLabs was previously approved to address growth, product development, and tokenomics challenges for the Threshold Network and its tBTC product. The budget breakdown includes $1.88 million for paid employees, $570,000 for marketing, $300,000 for outsourcing and audits, and $100,000 for legal expenses. The CEO, MacLane, has waived compensation.
If passed, tLabs will receive $2.85 million from the Threshold DAO treasury to fund its operations, with $250,000 already advanced to them. The goal is to double tBTC revenue to 50 tBTC and increase the Total Value Locked (TVL) of tBTC by 60% to 7,500 BTC. This could lead to significant growth for the Threshold Network and tBTC, benefiting token holders through increased utility and value, but it represents a substantial expenditure of treasury funds.
Voting results
Votes over time
x-axis = % of voting window elapsed · y-axis = cumulative VP per choice
🐳 Whale votes
2 votes > 5% VPFull proposal
Vote type: Token holder DAO snapshot, single-choice voting (yes/no/abstain)
DAO-elected representative sponsors: @JohnPackel @Eastban
Timeline: 7-day discussion period followed by 7-day Snapshot vote
tl/dr
- Following tokenholder approval to create Threshold Labs per TIP-98 and TIP-100, tLabs submits a year-1 budget request for $2,850,000
- This number reflects at-cost projections with zero profit margin added
- Proposed milestones by which to measure tLabs success include doubling revenue to 50 tBTC and increasing TVL by 60%, to 7,500 BTC
- tLabs has commenced operations b…