Overview
As per the Services Agreement between Cloudless Labs and Fluence DAO dated March 1st. 2024, Cloudless is submitting its expenses covered under the agreement from March 2024 through December of 2024.
Terms
The agreement provides a maximum reimbursement of $250K per month for “actual marketing, events services and other expenses rendered under this Statement of Work”
The marketing and related expenses are outlined in the table below and average $101K per month, well below the maximum of $250K permitted under the Services Agreement.
The cap of $250K per month was designed to support a robust, global marketing effort which Cloudless Labs is scaling up to deploy. As we grow the team at Cloudless Labs, and as Fluence releases additional features, the opportunities for effective marketing spend increase.
Below is the monthly breakdown of expenses starting in March 2024.
The transaction of total 1,012,055 USDC will be executed from the DAO treasury to Cloudless Labs to cover these costs according to the agreement.