Vote 010: Gro DAO Treasury Management Committee

TLDR

• The DAO has 10m USDC unallocated right now
• Voting for allocations to smaller protocols takes time for due diligence and negotiations for mutual deposits
• If allocated faster the DAO could be earning enough to cover the operating costs of the protocol and act decisively to buy the dip when appropriate
• Propose to set up a Gro Treasury Committee who are re-elected each 12 months
• Whitelisted principles will allow the committee to move fast

More information and discussion here: https://community.gro.xyz/t/vote-010-gro-dao-treasury-management-committee/260

Proposal: set up a Gro Treasury Committee

We propose that a Gro Treasury Committee is set up to handle the Gro DAO treasury finances, with an agreed set of whitelist principles voted on by the DAO.

The purpose of the committee is to execute on pre-agreed (‘whitelisted’) treasury deployments quickly. It can then spend the time needed on due diligence and negotiations, submit proposals to the DAO for voting, and instruct the DAO multi-sig to act on those instructions.

The Treasury Committee is doing the typical treasury function equivalent in a company i.e. it is deciding how to invest excess USDC, and not making decisions as to operational spending (that will be clarified in a future DAO vote).

Agreed whitelist principles

In the interest of moving swiftly and with agility, we propose that certain ‘blue chip’ DeFi whitelisted protocols, meaning that no further DAO vote would be needed to move funds into these protocols.

In addition, we propose that there are certain whitelisted assets: meaning that the Treasury Management Committee can (by instructing the DAO multi-sig) acquire those assets using treasury funds without further DAO instruction.

Finally there we propose whitelisted transactions. This is to allow swift action to be taken for emergency reasons, or smaller transactions to happen without a vote.

Proposed whitelisted protocols

• Aave
• Compound
• Curve
• Lido Finance
• Gro

Proposed whitelisted assets

• USDC
• USDT
• DAI
• ETH
• AVAX

Proposed whitelisted transactions

• Any return of funds back to the Gro DAO treasury
• Any investment in a protocol up to $100,000 value

Who would be part of the Gro Treasury Committee?

The inaugural Gro Treasury Committee would be made up of the following individuals (with discord usernames):

• joyce | gro#7566 (core team)
• Charlie | Gro#2698 (core team)
• pavel#3939
• Slacking#0191
• mjohanm4#0672

You can contact each of these community members for more information via Discord or the community forum.

Re-election and removal or addition of members

We propose that the Gro Treasury Committee be re-elected every 12 months, subject to a governance proposal on who should form part of the Committee.

If there is a desire from the community (shown via a forum post and a positive indicative poll) or from the core team to add or remove Committee members within less than 12 months, then there can be a new governance vote to change the Committee (by adding, removing or substituting members).

Remuneration

To reflect the time spent by contributors, the Gro Treasury Committee should be remunerated for their time involved in advancing the Gro ecosystem. We propose that each Committee member receive 500 $GRO per month from the Gro DAO Treasury for their time and effort (each monthly token amount delivered as an airdrop vesting for 12 months in the rewards centre).

For any core team member who already has an allocation of $GRO as part of the team allocation set out in the $GRO tokenomics, this monthly amount will be considered already included in their existing allocation i.e. core team members will not get additional $GRO for their role on the Committee.

The expected time commitment is 5-10 hours per month but this is subject to change.

Proposed committee operating principles

• Committee made up of 5 members to start with, including a mix of DAO members from the core team and from the community
• Meet 1x per month plus ad hoc meeting as necessary; ongoing discord channel also
• Function: Deliver instructions to the DAO (via the multi-sig) to manage the Gro DAO Treasury

The committee operating principles are subject to change in accordance with the view of the committee (3/5 vote required).

Voting Process

This vote was discussed in the Gro community forum for 7 days, together with discussions on Discord. The vote will run live for a further 7 days.

YES: set up a Gro Treasury Committee NO: do not set up a Gro Treasury Committee