Steward September 2022 Proposal 1 Treasury Funds

This is a vote to determine if DAO members approve of the proposal below. This proposal will be approved with a simple majority (>50%) voting in favor of the proposal. The Snapshot vote requires a quorum of 300 EVM’s voted to be considered unless 200 votes pass with 90% acceptance or refusal in which case it can get approved sooner.

This proposal is focused on the allocation of the Treasury funds.

Allocation of the Treasury funds At the moment we have around 19 ETH ($30,400 with a $1600 ETH price) in the Treasury. As was made clear in our latest announcement in Discord we still think reserving funds as compensation/reward for the stewards is not something we will ask for right now. In our opinion a (financial) reward should be paid retroactively. All the funds under custody of the stewards will be used to grow the DAO and help towards our mission statement.

The stewards propose the following allocation of our Treasury’s funds:

• 50% of the ETH is converted into rETH.
• 35% of the ETH is going to the ManeNet DAO Investment Portfolio which is split between the Investment Portfolio run by the stewards (30%) and the fast paced portfolio run by community members.
• 10% of the ETH is reserved as discretionary funds for the stewards.
• 5% of the ETH is used for retroactive grants for valuable contributions to our DAO.
• It’s looking like our DAO is becoming eligible for the $SAFE airdrop with an allocation of 1932 SAFE. Under the motto “if we wouldn’t buy it, we shouldn’t hold it” we want to propose to exchange the whole allocation to ETH within the week of the token becoming tradable.

New Treasury in figures:

• 9.5 rETH
• 6.65 ETH for the Investment Portfolio: 5.7 ETH for the steward run portfolio and 0.95 ETH for the community members run portfolio.
• 1.9 ETH discretionary funds for the stewards.
• 0.95 ETH for retroactive grants within the DAO.

The ManeNet DAO Investment Portfolio will be run by a newly created 3/5 multisig run by the stewards.

The way the community run portfolio is run is still open for discussion.

Please vote either For if you want this proposal to be passed, Abstain if you hold back your vote or Against if you don't want this proposal to be passed.