After the feedback received in [ref#342](https://kusama.subsquare.io/referenda/342)(check for more details) here is an updated proposal that seeks to fund the Virto team every spend period(6 days) at a lower rate of 260KSM per period(instead of 333KSM) for what is left of 2024(50 repetitions instead of 121).

> Average monthly spend(10 FTE): 260KSM * 5 * 41.72 USD/KSM(EMA30) ~= **54,244 USD**

> Call to cancel schedule: [`0x15002b0101881d03566972746f207465616d20323032342066756e64696e67202020202020202020010a000000`](https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frpc-kusama.luckyfriday.io#/extrinsics/decode/0x15002b0101881d03566972746f207465616d20323032342066756e64696e67202020202020202020010a000000)

### Summary
- The Virto team aims to continue developing its light and easy to use client side tools in the form of the VirtoSDK that fills a gap in the libraries available in the ecosystem, it is **modular**(use only what you need), **multi-platform**(same code base for Rust, JavaScript, Python, Kotlin, Swift, Dart) and **light**(usable in embedded hardware and IoT).
- The team formed mostly of Polkadot fellowship candidates will develop pallets and propose changes that we believe can enhance the PolkadotSDK to benefit the Kusama community. We focus on practical functionalities that improve user and developer experience that we can test and polish in our common good-like parachain Kreivo. Some examples are:
  - Pallet payments: Credit-card like reversible payments for goods&services.
  - Pallet communities: Powerful DAOs that can conduct real world businesses. 
  - Pallet pass: Issue free transactions from different devices that control your main on-chain account.
  - Pallet matrix: Two way control of decentralized chat rooms(e.g. a vote on a friendly poll triggers on-chain governance actions)
  - ... and more! see our [live roadmap](https://github.com/orgs/virto-network/projects/11/views/1) or suggest ideas that we can champion and implement.  

Virto team also aims to become self-sufficient by starting a "commercial community" in Kreivo offering *solutions as a service*. Our long term goal is still rooted in tackling social inequality by implementing the *local incentives protocol*.

- **Problem Statement & Audience:** Proposal to fund the Virto team at a reduced rate of 260KSM per period for the remainder of 2024, targeting the Kusama community.
- **Significance:** Developing the VirtoSDK to provide modular, multi-platform, and light client-side tools to enhance the PolkadotSDK for the Kusama community.
- **Proposed Solution:** Virto team will work on pallets like payments, communities, pass, matrix, and more to improve user and developer experience in the ecosystem.
- **Expected Outcomes:** Enhancing the PolkadotSDK, fostering a self-sufficient Virto team, and addressing social inequality through the local incentives protocol.

#349 Virto 2024