UPDATE:
This week, Lido contributors agreed to convert the stETH received into 1,030,874.48 DAI. The swap transaction is found here: Ethereum Transaction Hash (Txhash) Details | Etherscan
Minutes ago, roughly $170K in DAI was sent out to cover for compensations, departmental/personal/event related expenses, and legal costs for March and April. The batch transaction is found here: Ethereum Transaction Hash (Txhash) Details | Etherscan
Most of these transactions fell in alignment with the budget proposed in the initial proposal, however, given how difficult forecasting finances for a project like Lido is at this point in time, a few minor items were unexpected and would instead fall under a new department that is being formed by me [contingent on DAO approval for me in this role and the formation of a department] for Operations. A separate proposal will be made at a later time to top up the RCC and include a new Operations department for this (and future) quarters, likely amending the yearly budget. The expenses primarily had to do with Lido’s legal structuring work in accordance with the RFP submitted about two months ago. The Legal Counsel we engaged with did a tremendous job and delivered a legal structuring plan for Lido to interface with the real world in a modular, phased, and easily-governed way. I will be sharing more details regarding this in due course.