RX-π: ETH Treasury Strategy

Summary

This proposal outlines a strategy for the PsyDAO treasury (the π) of 291 ETH. The distribution will create discretionary funds controlled by PSYC holders and sized along the Fibonacci scale.

Background

PsyDAO currently holds a treasury of 291 ETH accumulated through sales of PSY tokens. To maximize the impact of this treasury, we propose allocating it into funds controlled by PSYC holders categorized by their purposes.

Proposal

We propose distributing the 291 ETH treasury into 6 funds. Their fractions of the distribution will be the first 6 Fibonacci numbers, 1, 1, 2, 3, 5, and 8, over their sum, 20.

1. Reserve Fund: 5% (14.55 ETH) - 1/20
2. Psychedelic Art Fund: 5% (14.55 ETH) - 1/20
3. Community Engagement Fund: 10% (29.1 ETH) - 2/20
4. Operations Fund: 15% (43.65 ETH) - 3/20
5. Development Fund: 25% (72.75 ETH) - 5/20
6. Psychedelic Science Fund: 40% (116.4 ETH) - 8/20

Each fund will be controlled by PSYC holders who have a duty of care to PsyDAO to advance the fund's purpose (to grow the π).

Fund Descriptions and Purposes

1. Reserve Fund (14.55 ETH - 1/20)

   • Purpose: Maintain a safety net for unforeseen expenses or opportunities.
   • Potential uses: Emergency funding, seizing unexpected opportunities, balancing other funds.

2. Psychedelic Art Fund (14.55 ETH - 1/20)

   • Purpose: Support innovative psychedelic art projects.
   • Potential uses: Investments in emerging artists, funding for digital art projects, purchase of indigenous psychedelic art for PSYC.

3. Community Engagement Fund (29.1 ETH - 2/20)

   • Purpose: Foster community growth, education, and participation in the psychedelic space.
   • Potential uses: Hosting events, creating content, building relationships, and marketing.

4. Operations Fund (43.65 ETH - 3/20)

   • Purpose: Ensure smooth functioning of PsyDAO and its initiatives.
   • Potential uses: Community management, legal compliance, and administrative costs.

5. Development Fund (72.75 ETH - 5/20)

   • Purpose: Advance technological innovations.
   • Potential uses: Development of decentralized applications for psychedelic science and art including the PsyDAO smart contracts and front end and OPSY.

6. Psychedelic Science Fund (116.4 ETH - 8/20)

   • Purpose: Support scientific research in psychedelics, including drug discovery and clinical trials.
   • Potential uses: Funds for researchers, support for data gathering and IP development, large-scale studies.

Governance and Control

• Each fund will be controlled by PSYC token holders in number and manner as determined on a case by case basis.
• Each fund will report its uses of funds to all PSYC holders.
• PSYC holders have a duty of care towards PsyDAO to ensure funds are used to develop PsyDAO's purpose. If they fail to uphold that duty of care they will be liable for damages.
• Contractors who are PSYC holders will be given preference in distributions of funds.
• PSYC holders can be vote-kicked by PSYC and PSY holders.

Implementation

If this proposal passes:

1. The treasury will be divided into the allocated amounts for each fund.
2. PSYC holders will self-organize into the funds.
3. Multisig wallets will be set up for the funds where needed.

Voting

PSYC holders can vote on this proposal with the following options:

• Yes: Approve the treasury distribution strategy outlined.
• Comments: See comments in Discord.