Treasury Department Funding Request - Season 9

Grants/Funding Season 9 Proposals
1

Title: Treasury Department Funding Request - Season 9
Authors: baer.eth, Icedcool, Gruad
Date created: 7/20/23
Date posted: 7/22/23
Funds requested: 285,000 BANK + 2,000 USDC
Department wallet: eth: 0x31016FFCEBFf16C20E74A8610f1650DCB5c01Df3

SUMMARY

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The Treasury Department is an operational unit meant to serve as a necessary organisation of the BanklessDAO. Treasury Management and Tokenomics are facilitators and enablers for operational entities such as working groups and teams to its operational sub-departments.

S8 Summary

The Treasury Department has worked towards giving a financial overview of BanklessDAO and its Departments. Additionally, the Treasury Department oversees tokenomic operations and monitors and manages all integrations related to BANK.

Activities from Season 8

  1. Treasury Management
    1. Accounting
      1. Updating the financial reports
    2. Treasury diversification group
      1. Exploring options to put Treasury Assets to use
        1. BANK/WETH Dynamic Liquidity
          1. Link
        2. Stable asset yield
          1. DRAFT IN PROGRESS!
  2. Tokenomics
    1. Weekly analysis on BANK economic infrastructure
    2. Developed tokenomics 1.0 for BANK
      1. tlBANK
        1. LIVE!
      2. Season pass
        1. In progress and debate
      3. Guest pass
        1. In progress and debate
    3. Optimism Liquidity
      1. Draft!
    4. Reclaim liquidity
      1. Link

Working groups:

Treasury Management Department

  • Accounting
    • ca. 50hrs/Season for this working group
  • Treasury strategies and recommendations
    • ca. 50hrs/Season for this working group

Tokenomics Department

  • Tokenomics 1.0 implementation
    • Scope: Improvement of tlBANK, Season Pass, and support any additional implementations.
    • ca. 40hrs/Season for this working group

MISSION & VALUE ALIGNMENT

The Treasury Department aims to steward the BANK token economy and responsibly report on and grow the BanklessDAO treasury. This includes developing and maintaining a living framework for capital assets and their allocations, creating proposals and suggestions for managing said assets in support of and alignment with BanklessDAO’s current financial objectives and mission.

FINANCIAL IMPLICATIONS

Treasury Department Balance sheet

Ticker #
BANK 835,000
ETH 2,54456 ETH
USDC 1,854.332
SAFE 948,22849

Liabilities

Amount Description
240,000 BANK Role holder payments for season 9
170,000 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
1,900 DASH Asset Repository

The role holders will receive a total compensation of 240,000 BANK for the entire Season.

The accounting and reporting WG will receive a total compensation of 90,000 BANK.

The BANK Utility WG will receive a total compensation of 25,000 BANK.

The Treasury Strategies group will receive 25,000 BANK.

The Distribution of bounties are from the bounty pool of 170,000 BANK.

The total budget request for the Treasury Department for Season 9 is 285,000 BANK & 2,000 in USDC, per the summary below.

Season 9 Request

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 30,000 60,000 90,000
Treasury strategies and recommendations WG 25,000 25,000
Bank Utility - Tokenomics 1.0 25,000 25,000
Bounty Pool 170,000 170,000
TOTAL (BANK) 270,000 280,000 550,000
DAO ESSENTIAL SERVICE: DASH Asset Repository 2,000 USDC
S8 Left Over 265,000.
— — — — —
TOTAL S9 ASK (BANK) 285,000 2,000 USDC

SUCCESS METRICS & KPIs

Details/Item KPIS Measure of success
Show progress related to value remuneration back to bDAO for Grants. Produce a summary of progress made since S8 on proposed or agreed-upon structures with funded projects. Pass/Fail
Design and Produce Monthly or Quarterly Reports Produce at least a single report of each type and frequency. Pass/Fail
BANK utility Identify Problem verticals for BANK, investigate them and create solutions for them. Pass/Fail

FURTHER DEPARTMENT CHANNELS

NEXT STEPS

  • Submit budget request to the forum by July 22nd!

Vote

Treasury Department Funding Approval Vote
  • Approve
  • Abstain
  • Reject
0 voters
2

Hello @Icedcool,

Thank you for sharing Treasury updates and progress.

Congrats on the tlBANK!

Could you please share more insight on the passes discussion?

And in the funding request - USDC total you are asking is 2 000, right? Assume the 2,00 is the type-o. :slight_smile:

Thank you!

1 Like
3

Updated!

Sure thing, this is all part of the Tokenomics 1.0 initiative to support general value accrual to the DAO.

The phases are generally, that we revise and refine the guest passes, then look at and potentially implement season passes for people that don’t want to lock up BANK in tlBANK for membership.

Does that help?

Links list:

Guest pass revisions

4

Awesome - thank you.

I know there’ve been discussion, was curious to learn any updates and potential changes happening.

Appreciate it.

1 Like
5

Movement on the guest pass: