Osmosis Support Lab Funding Round June - August 2022
Dear OSMO community!
In regards with OSMO proposal #245 we decided to vote NO as we consider this proposal highly overpriced, especially considering current market conditions.
We will skip the “regular” monthly expenses part, however we can not agree with Staff Reserve Fund ask as it is more than doubles the cost of overall proposal ask.
Also we believe that it's not the best idea to dump half a million of OSMO on an illiquid market like this.
Crypto market has been hit hard by the $LUNA situation, but $OSMO is the one which suffered really hard due to $UST imploding causing a protocol liquidity crisis.
We think $OSMO current price does not represent its true value.
Just a reminder - asking 500K OSMO one month ago would be equal to asking $2mln, and 2 months ago - $4mln.
Perhaps it's time to take a pause and let the market recover, especially considering the fact that the market is in a “cold” mode and it is highly unlikely that we will see a significant influx of new uneducated users.
We are suggesting to switch proposal ask to a monthly basis request instead of 3 months period and re-estimate Staff Reserve Fund ask.
With that Citadel.one votes No on proposal #245