Hey everyone!
It is time for an update ahead of Epoch 5. We’ve received close to 25 ETH / $80k in Epoch 4. We are incredibly grateful to everyone that voted for us and we hope that you will want to vote for us in upcoming epochs as well. 
Below we’ll list our achievements, plans and funding information since our previous update - according to the Long Term Update template. This is the first time using this template, so any feedback is welcome!
Funding
The first epoch we participated in was at the beginning of this year (Epoch 2). We also receive funding from other sources, so we list our spendings regardless of its source.
- Total Funds Received from Octant so far: ~$120k
- Funds Spent (past 6 months): $120k
Detailed Utilization
Most of our spending goes towards salaries of our 3 team members. Besides that we also have significant monthly infrastructure costs (server costs and data providers) and spend money on brand protection / scam website takedowns, administration, and contractors.
Milestones and Deliverables
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Milestone 1:
- Description: Rebranding
- Immediate Outcome: A more distinctive brand that is more flexible to expand our products / tooling beyond what we currently offer.
- Funding Used: ~$20k
-
Milestone 2:
- Description: Redesign of the browser extension
- Immediate Outcome: An extension that is easier to understand and use, keeping users safer.
- Funding Used: ~$15k
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Milestone 3:
- Description: Add support for Taiko, Sei, Mint, Sanko, re.al, Berachain bArtio
- Immediate Outcome: People will be able to keep their funds safe across networks.
- Funding Used: ~$10k
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Karma GAP: https://gap.karmahq.xyz/project/revokecash-1/grants
Also check out our monthly update blog posts for June and July.
Challenges
N/A
Outputs and Outcomes
Outputs (Last Epoch):
- Output 1: Rebrand and redesign
- Output 2: Support for additional networks
Short-term Outcomes:
- Outcome 1: It becomes easier for us to work on more features not strictly inside of the direct ETH ecosystem
- Outcome 2: More people can use our products on more of the networks they like to use
Long-term Outcomes:
- Outcome 1: People will have more brand awareness around the Revoke tools
- Outcome 2: More blockchain ecosystems will consider financially supporting Revoke
Plans for Potential Funds Raised in the Next Octant Allocation Window
- Goal 1:
- Description: Improved risk assessments
- Expected Outcome: People will be better informed to make decisions about which token approvals to revoke
- Funding Needed: $30k
- Goal 2:
- Description: Better flow for sequentially revoking multiple token approvals
- Expected Outcome: People will find it easier to revoke multiple token approvals, and will more easily leave a donation / tip at the end of the flow
- Funding Needed: $30k
Other Funding
Since our last update, we have received no new funding besides the $500-$1000 direct donations that we receive from our users.
Future Plans for Financial Sustainability
Revoke.cash is a 100% free and open source public good. Initiatives like Octant, Optimism Retro Funding and Gitcoin Grants have given us the financial support that we need to continue offering all our services for free. As long as we continue receiving enough funding from these public sources, we want to continue being a 100% public good.
If the funding that we get from these public grants programs is significantly reduced then we have some ideas around potential subscription plans with added premium functionality, but this is not our preference and we will only look towards those options if needed to financially sustain the project.