To conduct the project costs occur. Our project costs are largely driven by personnel costs. The team is in place and motivated to start, however living expenses have to be covered. In more detail the costs consist of:

For personnel expenses we have budgeted a total of $172,800 including ancillary wage costs. This consists of a total team size of 5.5 FTE (full time equivalent) for a project period of four months. This includes in detail: 1.0 FTE Project Lead ($7,500/m), 1.0 FTE Research Lead ($7,500/m), 2.0 FTE Senior Software/Blockchain Engineers ($6,000/m per FTE) and 1.5 FTE Research Specialists ($6,000/m). 

Further, the project requires technical infrastructure costs of $6,400 for the four months period. This includes $3,200 for servers and hosting, $2,400 for technical tooling and an estimate of $800 for domains. 

Additionally, for some team members office space is necessary to allow for efficient work and collaboration. To keep these expenses at a minimum, when feasible team members will work from home. However, we estimate to have a need of four office seats at an estimated full cost of $300 per month. This totals to $4,800. Additionally, we estimate that miscellaneous costs of $500 per month will occur. 

In total this adds up to a total cost of $186,000 for the project.
