ANV5 Is the first ANV since AGP-103 (Aragon Network Budget) passed, and the implications of this change on the ANV process may not immediately be intuitive. The budget imposes constraints on how much capital can be spent via finance track proposals each quarter, and provides a mechanism for determining which proposals will actually be paid in the event that ANT holders approve more spending then the budget allows.
In order to help both proposers and ANT holders better understand the impact each proposal has on the overall budget I’ve created a spreadsheet to help summarize this information. Its intended to be an objective and unbiased resources, so it does not make any judgement on what the proposals are for just how much they are asking for and how that will impact the budget. As proposals can still be modified up until the 27th I will try and keep this document updated and sync with the most recent changes, if you are a proposer and are making a change feel free to ping me and I will adjust the spreadsheet to reflect what is present in the AGP repo.
You can access the spreadsheet here.
I used transparency.aragon.org to get a snapshot of the current treasury value. Since the values and amounts can fluctuate, I’ve indicated the date this portion of the spreadsheet was last updated.
The recurring budget allocations section includes all the active recurring commitments. According to AGP-103 these commitments will be debited against the budget before any new proposals, unless a proposal has been passed with decreases the amount of an existing recurring proposal. In the case of ANV-5 there have been no adjustments to these proposals so there should be no changes to these amount expected.
The static projection table projects the budget out for the current Quarter as well as the 4 subsequent quarters. This allows us to understand not just the current budget, but also the impact up to a year out. For this projection we assume that the value of treasury assets are constant (though this is unlikely to be true in practice). We also assume that there is no capital inflow, which historically has been true, but may not be true in the future. It also assumes there are no changes to recurring spending, which would not impact the projected amounts but would impact the % of the budget which is not pre-allocated.
Finally, the most important piece, the ANV5 finance proposals table lists all finance proposals which are being considered. The amounts requested have been normalized to USD value and separated into one-time and recurring (quarterly) amounts. The current impact column computes the percentage of the current budget the proposal would consume, the recurring impact computes how much over the course of the projected period (5 quarters) the commitment would represent assuming the amounts were not adjusted or canceled during that time. The cumulative impact calculates the percentage of the total projected budget for the 5 quarters the proposal would consume, this normalizes one-time and recurring payments across the 5 quarters.
Based on this analysis the current proposals represent 205.31% of this quarters budget, and 94.07% of the cumulative budget through 2020.
Even if we wanted to pass all of these proposals as is, the budget policy would prevent some of these proposals from passing. It is still possible to restructure these proposals during the community review period and I encourage everyone in the community to actively engage this week and work to ensure that the proposals that end up on the ballot have been reviewed in the context of their budget impact so that proposers have an opportunity to adjust based on community feedback before they are locked in.