Drips Org - Q1 2024 Update

General Announcements & Updates

  1. We are making significant progress with regards to partnering with some really well-known and well funded orgs that will fund their dependencies with Drips. We will have more announcements later this quarter.
  2. We are ready to ship multi-party drip lists, which is our main product release for the year.
  3. We continue to onboard some really well known FOSS projects into Drips.
  4. We are ready to deploy to many L2s and will be announcing it this quarter.

Quarterly Objectives Updates

  • attract 5 new orgs that fund their critical software dependencies
  • additional $1m deposited in Drips

With regards to Q1 we are behind these two objectives, as it took as a bit longer to navigate our L2 deployment strategy and that became a bottleneck with regards to onboarding more funder orgs to Drips. Having said that, we are in really late stage conversations with 6 really well known and well funded orgs and we have high degree of confidence that we will be closing most of them in Q2.

You can see all of our metrics here: https://dune.com/lftherios/drips We continue to remain confident that we will hit most of our yearly objectives at the end of the year.

Roadmap Update

:green_heart: Introduce the option to KYC recipients before they claim funds.

We ended up taking a different approach with regards to KYC and have decided to partner with a consultant that will offer that service to any potential new funders.

:green_heart: Multi-party Drip List creation

This is our biggest release to date and as of this week, it’s ready to go live. Technically this was not completed in Q1 but as of this week it’s now ready!

Timeline & Budget Update

We are roughly $43k above budget, mostly due to increased activity on the BD side and marketing side of things. I expect us to be back on track on the budget by the end of Q2.