The spend in Q1 was 236k so it is going to be much less than 1.3 million.
The budget as posted here was a result of feedback in 2024 that spend on PG funding was less than delegates would have liked to see so the efforts made at the end of 2024 to consolidate funding efforts and diversify the recipients of funds has been a key part of our strategic planning for 2025. This is the result of those conversations and the work - including the Builder Grants platform built with Build Guild - that we have focused on to address the concerns brought in 2024.
It is clear from conversations today - which could have happened during the forum post discussion window but a lot has been happening - that concerns around overall DAO spend given current dynamics are entirely valid. From experience in other DAOs, high spend could indeed have detrimental effects so a slightly better pacing can be beneficial. As we are very much focused on being intentional on what we fund and how, we want our funding contributions to be much more meaningful yet also mindful of funding request cadence and general ecosystem dynamics. When scoping out this budget, we intended to skip the funding window in October so will be adjusting this budget slightly for this window and may seek further supplementation later in the year.
The budget adjustment will be for the Strategic Grants category and will still enable us to fund projects we have already earmarked and maintain a buffer should a valuable strategic opportunity present itself between now and the October funding window.
It is important to continue the valuable impact PG funding is clearly having while also being mindful of overstretching the very source of that funding so the PG working group will be reposting a revised budget to Snapshot. Again, with full confidence this will not affect what we have already set out to do in the next six months.