This agreement defines how Weave handles money as a collective, specifically the funds in the accounts of Weave. Our goals are to ensure legal compliance, financial solvency, and operational reliability, make financial flows across the network as transparent as possible, and direct significant resources to discretionary funds to be decided through participatory processes.
Capital resources held by the collective fall into the following two categories :
The core fund is controlled by the governance group. These funds are flagged for operational expenses and providing an economic runway for Weave.
The board is expected to maintain a viable level for the core fund account (e.g. minimum of 12 months of fixed expenses) and to periodically allocate any surplus to the approved collaborative funding processes of their choice.
Funds allocated to an approved collaborative funding process governed by the rules that define the specific process. You can read more about different agent benefits and responsibilities in the People’s Agreement. In certain circumstances, the governance group will follow the advice purpose to adjust the freelancer rate on a per project basis.
Weave receives income from individuals, companies, trusts or other entities. Income can be broken into the following categories :
Weave receives earnings by primarily offering services to the market - charging clients for time and material costs incurred in delivering these services.
Secondary income may come from interest and revenue shares/direct revenue from product partnerships.
All one-off gifts to the Weave go to the core funds.