As we all know, the **PureStake** team volunteered to cover the organisation and execution of Decoded 2022: NY Chapter. Due to the recent market volatility, the PureStake team budgeted the total costs of their original treasury proposal to be **USD 500,000.00** but has received the equivalent of **362,708 USD** (transferable value). Here's a breakdown of the additional DOT needed to cover the total cost of the event:

![](https://i.ibb.co/p1ysyS8/Screenshot-2022-06-20-at-11-28-44.png)

For these purposes, initially, a tip to reimburse **PureStake** for the extra costs invested was initiated. However, as the tip process is streamlined for relatively small amounts, it was agreed by the community that the regular treasury proposal process would be more suitable for reimbursing team for organising the event for the community. 

Please note that for calculation, today's DOT rate has been used: **USD 6.969**. While team received the allocation at a price of USD 7.18 and used a 7day avg rate to submit their proposal: USD 9.90.

The original treasury proposal, along with the detailed budget, success metrics and the idea behind the proposal, can be found [here](https://polkadot.polkassembly.io/treasury/127). 


- **Problem Statement:** PureStake team needs additional DOT to cover the total costs of Decoded 2022: NY Chapter due to market volatility.
- **Significance:** The team budgeted USD 500,000 but received only USD 362,708, requiring more DOT for the event.
- **Proposed Solution:** Initiate a treasury proposal process to reimburse PureStake for organizing the event.
- **Expected Outcomes:** Obtain the necessary DOT to cover the event costs and ensure successful execution of Decoded 2022: NY Chapter.

#141 Treasury proposal to cover difference in DOT rate from approval to transfer of funds for Decoded 2022: NY Chapter

No Active Proposals