Cyber Republic Proposals and Grant Disbursement Highlights

1 Feb 2022 to 30 June 2022

Since the beginning of this year, the overall market value of cryptocurrencies has been dropping sharply. Despite the volatility of ELA price over the last several months, we are heartened to see that the Elastos ecosystem remains relatively stable, and actively develops its core infrastructure for Web3 solutions.

There has been much positive news for the Elastos community in Q2, including the long-awaited Coinbase listing, newly elected CR council members, the deployment of CreDA on Elastos Smart Chain, the ELA buyback program and the on-boarding of Kairon Labs as market maker for Elastos.

The CR council has approved four new CR proposals with a total budget committed of 484,838 ELA during the period from 1 Feb 2022 to 30 Jun 2022. The deal with Kairon Labs for market making services is merely a replacement for the previous proposal of similar service with GSR, and therefore the funds committed and disbursed (370,000 ELA) remains unchanged. We have estimated a total budget of 24,838 ELA to be disbursed to the funded projects in accordance with their next project milestone payments.

CR Funded Proposals: Feb 2022 to June 2022 Key Highlights

  • Proposal 77: Audit ShadowToken and start FilDA in ESC

Proposal owner: sjunsong

Category: Ecosystem support and technical development

Total budget requested: 50,000 ELA

Grant disbursed as at 30 June 2022: 50,000 ELA

Next project milestone payment: NA

CR proposal details: https://www.cyberrepublic.org/proposals/6220aa1b7a818a0078d06c34

  • Proposal 78: Full deployment of CreDA on ESC

Proposal owner: Elation Studios

Category: Ecosystem support and technical development

Total budget requested: 40,000 ELA

Grant disbursed as at 30 June 2022: 40,000 ELA

Next project milestone payment: NA

CR proposal details: https://www.cyberrepublic.org/proposals/622a964f7eea4c0078004b67

  • Proposal 79: Elacity Web3 Data Exchange CRC Proposal

Proposal owner: elastos sash

Category: Ecosystem support and technical development

Total budget requested: 24,838.8 ELA

Grant disbursed as at 30 June 2022: NA

Next project milestone payment: 24,838.8 ELA

CR proposal details: https://www.cyberrepublic.org/proposals/6262c762c23c1e0078826b44

  • Proposal 80: Contract Kairon Labs to Perform Market Making Services for Elastos

Proposal owner: Elation Studio

Category: Marketing and promotion

Total budget requested: 370,000 ELA (To replace Proposals 70, 71 and 72 for GSR contracts)

Grant disbursed as at 30 June 2022: 370,000 ELA

Next project milestone payment: NA

CR proposal details: https://www.cyberrepublic.org/proposals/61c1158db5d3b6007833737d

Cyber Republic Financial Summary

Key Highlights (1 February 2022 ~ 30 June 2022)

  • Grants disbursed: 173,875 ELA
  • New CR proposals: 4 proposals
  • CR proposals approved: 4 proposals
  • Total committed budget: 484,838.8 ELA
  • CR proposals rejected: NIL

Below is a summary of the financials, and grant disbursements made by Cyber Republic during the period 1 Feb 2022 to 30 Jun 2022. Assets held by Cyber Republic as of 30 June 2022 have an estimated market value of 1,206,289 USD.

Cyber Republic Grant Disbursements for the Period from 1 Feb 2022 to 30 June 2022

* Market value of ELA is determined based on the ELA daily close price at UTC time for each transaction occurred during the period from 1 Feb 2022 to 30 Jun 2022 obtained from CoinMarketCap.com

** Refer to ‘CR Funded Proposals: Feb 2022 to Jun 2022 Key Highlights’ section

Cyber Republic Asset Balances as of 30 June 2022

* Market value of ELA is determined based on the ELA closing price on 30 June 2022 at UTC time obtained from CoinMarketCap.com.

^ CR wallet balance can be viewed at https://blockchain.elastos.org/address/CREXPENSESXXXXXXXXXXXXXXXXXX4UdT6b. A screenshot of the CR wallet as at 30 June 2022 is below:

Cyber Republic Token Flows for the Period from 1 February 2022 to 30 June 2022 (Denominated in ELA)

1 Refund of 3,674.67 ELA from CR Proposal #56 – Elastos to lead and sponsor Web 3 Conference 2021 on 8 Feb 2022

2 Refund of 5,035 ELA from CR Secretariat #49 – CR Secretariat Work Plan on 8 Feb 2022

3 Refund of 727 ELA from CR Proposal #68 – Funds for Strategic Marketing: Influencer Relationships and Social Media Campaigns on 30 Mar 2022

4 Transfer of ELA from CR Assets account CRASSETSXXXXXXXXXXXXXXXXXXXX2qDX5J.