---
# System prepended metadata

title: Notional Dev Payment

---

# Notional Dev Payment

This proposal is to pay a final tranche of funds for dev work on Juno.

The total requested by Notional is 416,914.83 JUNO. This will be rounded up to 416915 JUNO.

## Context

An agreement was made with Notional to pay for core dev work on Juno.

The original proposal from Notional is [here](https://bafkreidvx3czqfegrgdhpi5zm2fjnbsxrbzq2u2xq7uwmyy4f4izcvftpa.ipfs.cf-ipfs.com/), and the initial payments can be seen [here](https://daodao.zone/dao/juno1gpwekludv6vu8pkpnp2hwwf7f84a7mcvgm9t2cvp92hvpxk07kdq8z4xj2/proposals/A14).

An initial payment of 80,645 JUNO, valued at circa $407,257.25[0] was paid on commencement, to cover the first quarter of work.

Due to market conditions however, all dev grants were paused at the end of 2022.

Since then, the core team has changed strategic direction. The Juno DAO will in future seek to specifically hire and align individual developers long-term with the chain, rather than rely on third parties.

This means ending existing agreements, including with Notional.

In order to accept the ending of this agreement, Notional have requested a final payment, which is outlined below in this proposal.

## Calculation

**TL;DR** as mentioned above, the ask is 416,914.83 JUNO.

The calculation for this amount owed to Notional from the original agreement is as follows (original message truncated for brevity):

```
Calculation numbers

125 Days since last payment

Then there is an open payment from 23 december untill 28 April = 125 days
The contract is 1.4m [USD] thats 3835.61 USD a day x 125 days = 479452.054

----------

During that date range the TWAP for $juno was $1.15

----------

That means that the total cost would be 

416914.82956521 [JUNO]
```

[0] FMV of $5.05 [on the day of receipt](https://www.mintscan.io/juno/txs/4379FF98F93645C9D8F29C559EBA184AFAB46CE8EF9D126B0D322387B3D10DB7?height=4924292).
