Session 1 Funding Proposal: Treasury Management Research Project Working Group

Situation

What are you proposing? I am proposing the funding of the Treasury Management Research Project Working Group for Session 1 ending on 6/1/2022.

**What is the core problem(s) you want to solve? **

• Report on Best Practices: We need to understand the best practices for Treasury Management in the current space and what tools make the most sense for omgkirbydao.
• Understand Costs: We need to understand the costs associated with Treasury Management
• Pave the way for Longevity: The community needs a transparent & consistent view of the “community treasury” in order to understand
  • What funds are available for upcoming projects
  • Establish trust amongst the community
  • Properly budget for future working groups

Why is this worth addressing today? This is important to address today because…

• The treasury is the heart of the DAO we’re establishing. It represents the investment the community has made in the project. Understanding the status of the Treasury should be easy for every community member. Its management is a critical KPI that reflects the organization's success.
• As we shift the wallet to a multisig wallet, it is the perfect opportunity to implement best practices from other DAOs and start on the correct foot

How will you address it? This working group will address by doing/creating/running...

• Create analysis of Treasury, post-mint
• Launch publication (newsletter, wiki, etc.) highlighting the current state of the treasury
• Share database of existing Treasury Management options and their costs
• Schedule demos on as many Treasury Management options as possible & document our experiences to share with the community

What impact will this project have? (Referenced from this article)

• Survey: > 80% of participating community members should feel they have no issues understanding the current state of the Treasury
• Planning for the future: The Treasury Committee should feel prepared to research & plan for a diversified treasury.
• Burn Rate: The DAO should target & have the capability to track a maximum burn rate of 20% per Session

Working Group Leader(s) & Relevant Experience

• Directly responsible individual: @jakestandley#0001
  • 5 years of formal FP&A knowledge
  • 2 years of managing a team of 5+ developers
  • 2 years of managing a Capital Budget > $17mm and an Operating Budget > $1bn
• (Optional) Co-Lead: @lemondropkid

Committee Members

• Link to Committee Member Application

Request for funding

Proposed Budget: What budget is needed for you to achieve your goals?

Current ETH Price = $3150

Category	Rate (ETH)	Number	Total Cost (ETH)
Contributor Compensation	.25	5	1.25
Gitbook/month	.003	10	.03
Total	-	-	1.28

Use of Funds:

• Contributor Compensation: Community members should be compensated for their time.
• Tools/gitbook: We need an evolving single source of truth that can house our data beyond the Discord

**Note: As we align on a proper Treasury Management tool/system, a separate budget proposal will be submitted for a Snapshot vote.

Organization - How will it work?

What will you be doing? [What is the rough order of work operations for the N months of existence?]

Sprint 1: • Set up Multisig Wallet • Publish a post-mint update on the Treasury

Sprint 2: • Perform research on other best practices in DAOs and document • Present findings in a town hall with Committee's guidance for next steps

Sprint 3: • Implement committees aligned on a tool for Treasury Management • Incorporate into some type of wiki/post so that the Treasury info is transparent and accessible by the community

How will you interface with the community?

Our progress during Session 1 in this Kanban board in Air table. I have each task set up as a Product Backlog Item (PBI), with an accurate description and outline of the acceptance criteria/deliverables.

As we make progress on each PBI, WG members will add ‘comments’ to the tickets to see who has made what progress. In addition, this way, the tickets themselves will remain unedited, so the community has total transparency as to the progress we’ve made.

By adhering to this schedule as much as we should be able to deliver:

“A report on creating a hedged, robust treasury management system that draws from best practices of existing DAOs and sets up a proposed management system for omgkirbyDAO to activate in the following session.”

Along with setting up what’s needed to launch this system.

Commitments:

I am committed to serving the entire omgkirbyDAO with my work.

I am committed to open, rapid communication: I know that clear, constant, public communication lifts up the entire omgkirby community. I am committed to this style of communication.

Shared learnings: I will share my progress, learnings with the entire community. I will ensure that anything I create is accessible beyond my own tenure for future generations of Indexers to access & build on.

Intellectual honesty: I am committed to growth and improvement. I am open to feedback and will use feedback to improve my work for the benefit of the entire community.

I am committed to making omgkirbyDAO a welcoming, fun, diverse, inclusive, and engaging community to work in!