The following is v1.2 of the “Quantum Biology Institute Tideover Budget for June 2025” proposal.

This proposal is marked "fastest" and as such will be in Phase 3 in Snapshot for 1 day.

Hence, votes will be taken into account if posted before 8:09pm PT | 11:09pm ET on Mon May 26 2025.

This is Phase 3 of DAO governance. QBIO token holders are invited to participate in token voting.

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Quantum Biology DAO Development Proposal - 017 (QBIO DP-17)

Title: Quantum Biology DAO “Near-Term Treasury Management” Proposal

Summary

This development proposal institutes a policy for the near-term management of the Quantum Biology DAO treasury. It limits trades to exchanging ETH to USDC, with different amounts unlocking as different ETH prices are reached. It uses a mechanism of trades “unlocking” to prevent actions from being taken due to fear, uncertainty, and doubt (“FUD”). It uses a “trigger” mechanism to allow nimble responses to market conditions. It specifies who decides when trades are made, gives a deadline of one month for the DAO to retain the services of a qualified advisor, and two months to pass a proposal to replace this one, governing treasury management in the mid term.

Background

In December 2024, the Quantum Biology DAO originally raised just over 1,700 ETH at an original ETH price of just under $4,000 USD, for an equivalent of just over $6.8m USD, through an auction for the DAO’s governance token QBIO. This was the largest single crypto fundraise for a scientific field to date and also occurred as ETH reached nearly an all-time high.

Subsequently, the price of ETH crashed, dropping by over 60% to around $1,500 USD by April 2024. Since then, the price of ETH has recovered; at the time of this proposal, the price of ETH is approximately $2,500 USD, up almost 70% from its low but still down 40% from its high in December. During this time, the DAO held ETH and did not have a written policy governing the management of its treasury.

As ETH began to recover its value, there was discussion among DAO contributors about how to manage the DAO treasury going forward. These discussions were led especially by Mike Montague, who proposed a specific plan for treasury management. The following proposal is based largely on that plan.

This proposal references a Treasury working group. The proposal that establishes the Treasury working group (DP-15), with Mike Montague as its leader, has passed Phase 2 and is now in Phase 3 (token voting on Snapshot) of DAO governance. DAO governance is described in DP-1, as amended by DP-14.

Description

1. Definitions of “treasury management” and “ETH.” For the purpose of this proposal, “treasury management” refers to the movement, storage, and exchange of the Quantum Biology DAO’s treasury, including swapping one asset class for another. The DAO’s treasury includes all of its holdings at wallet address 0xDF00…FE05. “ETH” includes ETH and ETH equivalents, including WETH and stETH.

2. DAO treasury management limited to ETH-to-USDC trades. Until a new treasury management proposal is passed, the only actions that may be taken with respect to DAO treasury management are ETH-to-USDC trades. This does not include disbursement of funds under previously approved budgets, such as the DAO Annual budget (DP-6) or new grants approved by the DAO (such as DP-16).

3. Current DAO treasury. At the time of this proposal, the Quantum Biology DAO has holdings in ETH, USDC, and QBIO. These holdings are, rounded to the nearest hundredth:

• 1,158.58 ETH • 351,013.08 USDC • 33,898,949.67 QBIO

4. ETH-to-USDC trades limited by a series of “unlocks.” The DAO is authorized to trade ETH for USDC when the ETH is considered “unlocked.” The 1,158.58 ETH presently in the treasury are considered “locked.” The ETH become unlocked according to the following schedule:

• When ETH reaches $2,500, 20% of the original total are unlocked. • When ETH reaches $3,000, 20% more of the original total are unlocked. • When ETH reaches $3,500, 20% more of the original total are unlocked. • When ETH reaches $4,000, 20% more of the original total are unlocked. • When ETH reaches $4,500, the last 20% of the original total are unlocked.

5. Assessment of ETH prices. For the purposes of assessing conditions for the “unlocks,” the ETH price will be determined by its reported price on CoinMarketCap.com.

6. Conditions to trigger ETH-to-USDC trades. Any ETH that are “unlocked” according to the above mechanism may be sold, at the discretion of the Core Contributors, by majority vote. If there is a tie among Core Contributors, the leader of the DAO’s Treasury working group may cast the tie-breaking vote.

7. Hiring a qualified advisor. The DAO’s Core Contributors may use funds from the DAO 2025 Annual Budget (DP-6) to hire a qualified individual to advise on matters pertaining to the management of the DAO treasury and related matters, such as DAO security. Such an advisor must be hired within one month; the power to hire such an advisor using DAO funds is already granted in DP-6.

8. Development of mid-term treasury management plan. The DAO has two months to pass a mid-term treasury management plan. That plan will replace or supplement the treasury management plan described above.

Conclusion

In the near term, placing DAO treasury management under an “unlock” and “trigger” plan like the one described above will achieve the simultaneous goals of allowing the DAO to manage its treasury quickly in response to market conditions while reducing the likelihood and severity of mistakes due to fear, uncertainty, and doubt (“FUD”). The staged unlock plan described above will provide the Quantum Biology DAO with the stability and security it needs in treasury management until a more permanent plan can be adopted. Hiring a qualified advisor will make it possible to develop such a plan, and having a time limit will ensure that such a plan is actually adopted.