0x8f48282e…f5d9sent to0x9d4c6356…1639·#19,221,200·view on Etherscan
# S21 Grants Lab Budget Request
## Summary
This vote serves to ratify the movement of $344,143 from the Gitcoin Treasury to the Grants Lab multisig.
Gitcoin recently [underwent a reorg](https://gov.gitcoin.co/t/gitcoin-entering-the-end-game/17560) and a result of that was the creation of a unit called Grants Lab. This new unit amalgamates previous teams including Grants Stack, Allo, GSD and GPT. The team has already gone ahead and combined those funds into a single Grants Lab multisig.
[Because funds in S20/S21 had already been approved for Grants Stack](https://snapshot.org/#/gitcoindao.eth/proposal/0xa1a72e2ba121b6d7cc1507f1b9e4b5fc7c36b7afd52357552c5e06526b4e0f53), we are now repurposing the funds promised to this team and directing them to the newly created unit Grants Lab.
You can read the full governance forum post here for details: <https://gov.gitcoin.co/t/grants-lab-s21-budget-proposal/17636>
## Details
* Amount remaining from previously approved budgets across Allo/GS/GPT/GSD for S21: $1,701,848
* New budget for S21: $1,032,429
* Funds currently held in wallets across each of the previous teams: $1,309,541
* New request for S21: $344,143 (equivalent of one month’s budget to bolster reserves)
Funds are being sent at the USD equivalent in GTC, currently at a rate of $1.29.
The increase in funds held in wallets is a result of an increase in token price since the original disbursement, as well as lower than expected spending across several workstreams.
**Important note: The funds are being directed to the old Grants Stack multisig, which has been repurposed as the new Grants Lab multisig.**