TL;DR:

This proposal provides the compensation framework to ensure the smooth running of the treasury such as funding other proposals, managing treasury allocations, monthly treasury reporting, and earning yield to fund operations.

Mission Alignment:

This proposal helps keep the lights on. Without active treasury management, the DAO will eventually run out of money and no longer be able to push forward its mission of prison reform.

Historical performance:

The treasury strategy has earned the DAO an additional 13.67323806 ETH and 1.05580519 wBTC in the last two months. Outside of large expenses such as BTC Miami and art purchases, the DAO is earning more than it is paying contributors.

• Fixed Budget and Payout Schedule:
  • Treasury budgets will be calculated based on prior average expenses. Similar to the previously passed proposal #3, the treasury group is targeting a contributor compensation cap of $5000 per month, and a fixed 10% commission on any yield farming.
    • Historical average per month contributor expenses: 4050 USDC
    • Historical average per month commission earned: 0.7ETH and 0.053wBTC
  • Total requested for the next 12 month period:
    • 60,000 USDC
    • 0.636 wBTC
    • 8.4 ETH

Renewal:

This treasury budget will sunset June 1st, 2023. A new budget will be proposed based on the prior period’s average payout unless the treasury lead is off boarded, or there is a different specific proposal action superseding this proposal.

Success Metric:

Average APR of >20% on treasury assets denominated in ETH and wBTC

$FREE Rewards:

$1000 in FREE per month annualized yield exceeds 20%, and an additional $1000 for every additional 5% over the 20% threshold.

Treasury Ops Wallet Address:

0x19706c1a5b66CE45E14e9441234E8B6C1eC5f709

Author(s):

unicorndroppingz (3,3)#7016

Lead:

unicorndroppingz (3,3)#7016