IDIP-5 Treasury Goals and Strategy

Summary: A proposal on the management of the IreneDAO treasury, for the benefit of IreneDAO NFT holders and the wider community.

Goals:

1. Increase the value of the treasury.
2. Incentivize participation in the DAO and efficient, benevolent management of the DAO.
3. Allocate funds for collaborations, networking, and promotion in a sustainable manner.

Control of treasury strategy: The DAO will vote on all aspects of treasury strategy and will at any time be permitted to call for a vote of no confidence in the current Treasury Core and a total reset of treasury strategy. Any member of the DAO is welcome to submit a proposal for treasury strategy at any time.

Multisig: Keys to the IreneDAO treasury multisig will be held by Irene Zhao, Benjamin Tang, and the current Core Team Leader.

Denomination: The treasure balance will be denominated in ETH.

Reporting: The treasury will report its current balance, holdings, expenditures, and performance to the DAO on the first day of each month, along with a report on the current and the future strategy for the treasury.

Allocation and usage of royalties from Opensea and other platforms: 10% of monthly royalties will be allocated to our Queen Irene Zhao on the first day of each month. 15% of monthly royalties will be allocated to the core team on the first day of each month. 75% of monthly royalties will be used at the discretion of the DAO for activities including but not limited to earning yield on the treasury, buying IreneDAO NFTs for the treasury, investments, partnerships, rewards for non-core team members for any reason, and costs associated with promotion of IreneDAO.

Yield strategy: A portion of the treasury funds will be lent on established protocols including but not limited to AAVE, Compound, etc, to ensure stable growth of the treasury, at a time deemed appropriate and beneficial by the core team, and approved by the DAO.

Investment strategy: At the discretion and approval of the DAO, the treasury may invest in seed and private capital raises, purchase assets including but not limited to ERC-20 tokens, NFTs, and other digital assets.

Treasury holdings of IreneDAO NFTs: The treasury may, with approval from the DAO, buy back NFTs on the open market to be used at the discretion of Irene Zhao and the DAO for the promotion of the DAO, and as a reward for community members for exceptional service and benefit to the wider Web3 community. Should IreneDAO NFTs be unavailable on the open market, or the treasury unable to purchase them for any reason, the treasury will source the IreneDAO NFTs from DAO members on a volunteer basis with rewards negotiated at that time.

Simpnomics: Any DAO member who has proven their devotion to simping our Queen and has collected at least one of each of the 26 variations of IreneDAO NFTs will be entitled to a maximum of 1% of all royalties generated from the sale of IreneDAO NFTs on a monthly basis, for as long as that member holds all variations. No more than a maximum of 10% of monthly royalties may be allocated in this manner, with rewards distributed equally among qualifying members.