[Community Spend Proposal] Payout of Second Grant Program Installment for Define Logic Labs (DLL)

This proposal addresses the second grant installment for Define Logic Labs (DLL), in accordance with the previously passed on-chain governance proposal 7. This grant is part of the Quasar Interchain Grant Program.

The above mentioned proposal, approved on August 12, 2023, included a three-month cliff period that concluded on November 11, 2023. The vesting of the grant commenced the following day, November 12, 2023.

The vesting of the 5 million QSR token grant to DLL is contingent upon their success in increasing the Total Value Locked (TVL) via Quasars platform. For a comprehensive overview of these conditions, please refer to the detailed breakdown in the forum post associated with proposal 7, available at the Quasar Forum (https://gov.quasar.fi/discussion/12487-proposal-for-community-pool-funding-of-qsr-to-define-logic-labs).

Previous grant installment payouts were executed with the following proposals:

• Proposal 22 (https://www.mintscan.io/quasar/proposals/22)

Based on queried on-chain data the total TVL in Quasar Concentrated Liquidity vault with DLL strategies was a total of $5,885,515.90 (totaltvl: 5885515.898492) on 13th January.

This qualifies DLL for Tier 7 as per the stipulations of proposal 7. This achievement permits the payout of 562,178 QSR tokens. These tokens will be transferred to the wallet address endorsed in proposal 7 (quasar19fylsq22q6uv9nrkv7yat3jrypr0azwvgnavjg). Upon approval of this proposal, the total QSR tokens disbursed to DLL will amount to 1,191,543. DLL will remain eligible to receive an additional 3,808,457 QSR tokens, subject to the vesting tier table conditions.