Treasury Department Funding Request - Season 10

Authors: Icedcool
Editors: Treasury Department
Date: 11/11/23
Wallet surplus: 248,000
Funds requested: 147,000 BANK + 2k USDC
Multisig: 0x31016FFCEBFf16C20E74A8610f1650DCB5c01Df3
Multisig signers: Gruad, 0xBaer, nikhilbaranwal, Koruos, Icedcool

Department Purpose & Mission/Value Alignment

The Treasury Department is responsible for preserving, enhancing and supporting the DAO’s financial and economic infrastructure.

Seasonal Summary

Seasonal KPIs

Produce Seasonal accounting reports to the DAO - :white_check_mark:

Create incremental improvements on the tokenomics of the DAO - :white_check_mark:

Create strategies to increase capitial efficiency at the DAO - :white_check_mark:

Previous Season Activities

  1. Treasury Management
    1. Accounting
      1. Create accounting docs and focused on Multisig and Grants Committee
        1. LINK
      2. Reclaimed 2.5M BANK through investigative accounting.
        1. LINK
      3. Ensured payment of DASH to enable marketing efforts
    2. Treasury Diversification
      1. Identified diversification strategies
        1. Exploring platforms for automation.
      2. Balancer Liquidity Delegation to Treasury
        1. LINK
    3. Designed BANK Monetary policy
      1. DRAFT
  2. Tokenomics
    1. Tokenomics 1.0
      1. Weekly examined liquidity, usage, challenges and opportunities
        1. LINK
      2. Working towards contributor payment with tlBANK
        1. Identified UI challenges and bugs
        2. tlBANK architecture challenges
      3. Pivoted from Season pass plans to Level revisions and strengthening
        1. [TEMP CHECK] - BanklessDAO Citizenship Upgrade v1
        2. bDIP-N: Guest Pass and Voting Addendum
  3. Treasury Department Governance
    1. Kicked off a forum to enable long form discussion and debate around Treasury Department Proposals

Previous Season DAO Updates

Next Season Plan

  • Treasury Department
    • Deploy capital efficiency strategies.
    • Continue to surface accounting reports.
    • Foster conversations about the DAO’s financials to enable operational decision making.
  • Tokenomics
    • Continue to develop Tokenomics 1.0
      • Revise Level 2, 3 and 4.
      • tlBANK
        • Revise the UI, and enable payment with tlBANK
        • Create dashboard that showcases usage and movements
    • Examine and analyze market liquidity to enable DAO operations
      • Potentially deepen L2 liquidity
      • Deploy liquidity strategies to support revenue generation at the DAO.

Financial Implications

Previous Season Accounting & Current Holdings

Ticker #
BANK 643,000
ETH 2.1632
USDC 749.75
SAFE 1,476
Amount Description
240,000 BANK Role holder payments for season 9
15,000 BANK General bounties from season 8
25,000 BANK Bank Utility - Tokenomics 1.0 implementation
25,000 BANK Treasury Strategies
90,000 BANK Accounting and Reporting WG
DASH Payment We should be good for the season, but double checking.

Third-Party Funding and External Revenue


Next Season Budget Breakdown

Details Roleholder Salaries Incentives TOTAL (BANK) TOTAL (USDC)
Treasury Management Coordinator 90,000 90,000
Tokenomics Coordinator 90,000 90,000
Treasury Management Apprentice 30,000 30,000
Tokenomics Apprentice 30,000 30,000
Accounting and Reporting WG 30000 60,000 90,000
Treasury strategies and recommendations WG 25,000 25,000
Bank Utility - Tokenomics 1.0 25,000 25,000
Bounty Pool - 170,000 15000 (used) 15000 (used)
TOTAL (BANK) 270,000 125000 395000
DASH Asset Repository 2,000 USDC
S8 Left Over 248000
TOTAL S9 ASK (BANK) 147000 2,000 USDC

Department Members (leadership)

  • Gruad - Treasury Management Coordinator
  • Icedcool - Tokenomics Coordinator
  • Nikhilbaranwal - Treasury Management and accounting assistance
  • 0xBaer - Tokenomic assistance

Additional Information

  • Approve
  • Abstain
  • Reject
0 voters

I keep seeing season 9 asks instead of season 10. Is that a typo?

Those are for this seasons accounting and payments.

Appreciate it. I’ve read these and my eyes get crossed.

Thanks for posting this @Icedcool , I definitely appreciate all the work the Treasury Dept does. In usual links fashion, I have some questions!

What does this mean? As someone who isn’t very treasury-minded, how does the Treasury Dept preserve, enhance, and support the DAO’ financial and economic infrastructure?

I ask not because I think you aren’t doing good work, but because I often feel Treasury Dept isn’t actually empowered to achieve this purpose. The GC handles BANK disbursement, the Vault multisig guards the vault, the governance dept stewards the constitution…so what assets does (or should) the Treasury Dept manage/preserve?

As an example: I often see the Treasury Department ask for DAO consensus on things like moving positions on DeFi platforms. It feels to me that this authority should lie within the Department itself.

I don’t love these KPIs…but I think that it’s a symptom of the fact that the purpose is a little hazy to me.

  • I love the idea of producing seasonal accounting reports…but is it possible to create AUTOMATIC reports using blockchain in some way? or create some tools to make accounting easier for DAO groups so reports uh…write themselves?
  • For incremental improvements to tokenomics - how will we know that these improvements are actually improving things? What characteristics/metrics does the BANK token have that will show that our tokenomics are improving?
  • Also for capital efficiency - how will we know this is working? Reduced BANK disbursement?

Feels like this shouldn’t be handled by the Treasury Department. Why do?