Setting DAO Expense Approval Threshold

Goal / Motivation: To unblock core DAO contributors by allowing them to make meaningful & time-sensitive purchases for the DAO.

Proposal Owner: Jesse Kao

Proposal: I am / We are proposing to set an expense approval threshold of $1,000 or 0.5% of total DAO treasury (whichever is greater), where expenses under that threshold do not need a DAO vote to approve the expense. (please note that this does not mean there won't be some sort of approval; we will just not need a formal DAO vote)

Background: When BZD launched, part of the bylaws had a section that allows the DAO to spend on expenses under a certain $-threshold in order to unblock the DAO to make reasonable, timely purchases without having to get bogged down in voting/legislation. The DAO left this $-threshold blank to allow the community to dictate this threshold in a fairer manner.

Today, we look to set that $-threshold. See below for screenshot

Description of Proposal: Two weeks ago, on Sept 12th, 2022, we polled the community as to what we think this threshold should be. The results are below:

The threshold with the greatest number of votes was $1,000 with 37%. As such, I am proposing a threshold with this amount. However, one could argue that not more than 50% voted for $1,000 and the threshold with a majority of votes would be $500 (since the 37% of votes for $1k would obviously agree to a $500 threshold as well) should be the proposal. I am keeping the $1,000 proposal for now because 1) it was the winner and 2) it's more appropriate to let the DAO formerly vote and then move downwards in threshold amount than vice versa.

Some more considerations:

1. The $600 Moongate ticketing expense for the BZD TBW Conference would have required an official DAO vote if the threshold was below $1k.
2. Having a threshold does NOT mean any member of the core (or non-core) team can spend however they please under $1k. Each payment still needs 3 of the 8 multisig signors to sign off. Members of the DAO will still seek approval from each other in order to get these expenses across.
3. The 0.5% of DAO Treasury threshold kicker was put in place to allow this rule to scale with the DAO's Treasury. This 0.5% threshold would NOT over take the $1k threshold until the DAO's Treasury reaches $200k (which is over 2.5x where the Treasury is today).

If you have any questions, please message the KOR member Telegram chat. In the future, we will use https://proxychat.xyz/ to facilitate our proposal discussion needs : )

Thanks for reading and contributing to the DAO's direction!