Proposal Early Termination and Accounting

The proposal to fund the @pettycash account was terminated early. It was originally meant to reach 10,000 HBD but after some consideration it seems to be a bit high for an account with this scope. There was still 18 days to go or approximately 3,000 HBD.

Rationale

The @pettycash account isn't about stocking up cash but about just having somewhere to draw from for one-off services that are not significant enough or too much of a fast-ball for a real proposal. It was set for 10,000 HBD because there was a potential exchange-related promotional effort possibly coming up (these things are often unconfirmed until the last moment) but it was bordering on a paid listing and we all know that the Hive ecosystem does not use community funds to pay for listings.

The other reason for early termination is it's been getting a few post rewards sent to it. The DHF specified that the account only required 10,000 HBD so the question then becomes: how do we view proposals that also have additional funding from posting rewards? It was a straight-forward decision to cut it early.

Should the funds become exhausted and more are needed, a new proposal can be resubmitted in the future. It is hard to realistically estimate how much will get used up but we do try to spread out our promotional initiatives so they do not overlap and compromise one another. In another few months we should have sufficient data to offer projections with a degree of accuracy.

This account will always be carefully used. The sums that its spent on are normally negotiated to be low but still fair and reasonable. We're not so cheap that we will never spend the money but we're not just throwing it around.

Accounting

The @pettycash account saw some use since its creation and to this date.

One thing this account cannot do for the purposes of accountability is send directly to exchanges. It will always send to another Hive account. This should be kept in mind as you review the spending ledger so far.

The Capital printed and promoted on their front page a pre-HF interview with Hive. Read it here on their site, here, here or here. It had wide dissemination.

https://hiveblocks.com/tx/1bcec376da7920cd3a9eca8019be0a91f1b5c7aa

pettycash transfer 1,176.740 HIVE to thecapital 250 USD | 1176.74 HIVE at trading price at CoinGecko 22 Jun 21 14:32 EST timestamp | PR Interview-style | HF PR

Despite the fact that we have lost the voting contest for the Staking Rewards listing and came in second, we still obtained the listing. It is being set up at this moment and there is continuous back and forth. The total agreed upon was 1,500 HIVE total for the promotional campaign to accompany the listing. 1,000 HIVE went to Staking Rewards to distribute during the campaign once it launches. 500 HIVE remains held on the @pettycash account for future use.

https://hiveblocks.com/tx/decd82e0a1576eca2e5fd39667ad0cf3473b1591

pettycash transfer 1,500 HIVE to coinworld Staking Rewards | Listing Campaign: AMA Question Rewards + SR Airdrop | Reserve not transferred at this time | Reserve: 500 HIVE marked for Twitter campaign

Hive and Swap Space had a small mutual promotion on Twitter. It was very successful although near the end it appears that Twitter bots attempted to take advantage. Swap Space put up half the prize pool and the rest came from Hive via @pettycash.

https://hiveblocks.com/tx/23b0337b2ac34c6bf9f5c64d39392089f0d4202b

pettycash transfer 100.283 HIVE to swapspacexchange Hive share for the campaign of a total of 200 HIVE https://twitter.com/SwapSpaceCo/status/1399788837384163333 | Distribution by swapspacexchange | 100 HIVE + 0.283 outstanding

To read more about the @pettycash account, please visit our introductory post here.