We would like to share the KCF/KFF disbursement details during the first half of 2023.
For the initial six months of 2023, Klaytn Foundation facilitated the disbursement of a total of 34,050,630 KLAY, distributed across 12 distinct items. The disbursement breakdown by the fund is shown below, and a detailed list has been added to the existing cumulative disclosure sheet.
Klaytn Community Fund: Not executed
Klaytn Foundation Fund: 34,050,630 on 12 total items
In the month of May, Klaytn Network introduced its on-chain voting mechanism, Klaytn Square, while in mid-June, the Governance Council granted its first approval for the quarterly budget of Klaytn Foundation. Notwithstanding the budgetary approval, the execution of KCF did not take place during the first half of the year due to the continuity of the conservative support policy, which had been established since the previous year’s fourth quarter.
Of particular note, the Delegation Staking, which constitutes a significant component of KFF execution, was delineated within the 2Q budget. This initiative encompasses a one-year loan of 24 million KLAY to four newly incorporated GC entities (Dorahacks 9M, Kommune DAO 5M, P2EALL 5M, and Creder-ITCEN 5M), as well as 5 million KLAY designated for Klaytn Foundation’s Core Cell operations, a proposal that had already secured approval through KGP-8. These 29 million KLAY have been securely deposited within Klaytn Network’s nodes and will be restituted to KFF without being sold on the market.
The aggregate disbursement of 34.05 million KLAY during the first half of 2023 reflects a substantial 79.4% reduction compared to the 164.9 million KLAY disbursed through KGF/KIR in the corresponding period of the prior year. In the third quarter, we have seen the GC’s involvement in KCF agenda voting, coinciding with the formulation of the routine budget (KGP-12). As customary, transparent disclosure will accompany each KLAY disbursement facilitated through these processes. We appreciate your sustained engagement with Klaytn’s governance affairs.