Treasury Department - Season 8 Budget Proposal

Treasury Department - Season 8 Budget Proposal

Authors; baer.eth, Icedcool, Gruad, Nikhil

Date created: 4/3/23

Date posted: 4/9/23

Funds requested: 431,241 BANK + 2,000 USDC

Department wallet: eth: 0x31016FFCEBFf16C20E74A8610f1650DCB5c01Df3


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.


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 7

  1. Treasury Management
    1. Published BanklessDAO financial report
    2. Built standardized accounting framework for BanklessDAO guilds and departments
    3. Started organizing a Treasury Diversification group
  2. Tokenomics
    1. Weekly analysis on BANK economic infrastructure
    2. Introduced tokenomics 1.0 for BANK
      1. Season Passes
        1. Discussion in progress
      2. tlBANK
        1. Implementation in progress!

BANK contract address

Season 8

The following roles are established for Season 8 to accomplish the department’s objectives:

  • Treasury Management Coordinator
  • Treasury Management Apprentice
  • Tokenomics Coordinator
  • Tokenomics Apprentice

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


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.


Two of the tasks that the Treasury Department must oversee are the preparation of the financial reports as well as paying invoices on behalf of the DAO or paying the gas fees that DAO members incur when making transactions related to BanklessDAO operations. Both Treasury Management Coordinator and Tokenomics Coordinator are responsible for the administration of the Treasury Department. This includes supervising, organizing, and coordinating activities in the Treasury Department like moderating weekly meetings, maintaining the Department’s notion page or representing the Department in the Community Calls while meeting the objectives, requirements and needs set up by the DAO. In addition, they are responsible for preparing the Department’s budget and paying the Treasury Department members with paid roles.


Treasury Department Balance sheet

Ticker #
BANK 643,759.38
ETH 2.54456 ETH
USDC 1,971.6429
SAFE 948,22849


Amount Description
240,000 BANK Role holder payments for season 7
170,000 BANK + 25,000 BANK Bank Utility - Tokenomics 1.0 implementation and bounties from season 7
90,000 BANK Accounting and Reporting WG
1,900 USDC 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 and the bounty pool allocated to it.

The Distribution of bounties are from the bounty pool of 170,000 BANK; the department coordinators are responsible for distributing the boundaries and follow an optimistic governance approach. Any member of the Department can challenge the distribution, and disputes will be resolved through sesh/Governator polls.

The total budget request for the Treasury Department for Season 7 is 431,241 BANK & 2,000 in USDC, per the summary below.

Season 8 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
Asset repository bDAO uses 2,000 USDC
S7 Left Over 118,759
TOTAL S8 ASK (BANK) 431,241 2,000 USDC


Details/Item KPIS Measure of success
Show progress related to value remuneration back to bDAO for Grants. Produce a summary of progress made since S7 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, and investigate them, produce proposals and create a seasonal report to the DAO on findings. Pass/Fail



1 Like

Nearly fell off my chair when I saw the Treasury Department Wallet’s ETH balance.
This might be worth correcting to 2.54456 rather than 2,54456 :grin:

Also your Background section says ‘Activities from Season 8’ rather than ‘Activities from Season 7’, and the action in the Next Steps section appears to have been accomplished with this post. Small points, but worth correcting for posterity :slight_smile:


Goals :slight_smile:


Nice proposal @Icedcool. Congratulations for every achievement. I’m very exited for the coming month and all the changes that the treasury and tokenomics are doing. =) bDAO Strong

1 Like

Thank you for the proposal treasury! The KPIs mentioned here are the same since a few seasons with a binary judgement mechanism. Does this mean that the department has consistently failed to deliver the KPIs in question or that the scope of delivery is so long that these can be considered goals as opposed to performance indicators?

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Hi @Icedcool @gruad @0xbaer and @nikhilbaranwal
thanks for getting this proposal done!!
I understand everyone is busy, but it was submitted after the deadline for proposals had passed.
Though I am unsure if the GC is accepting the proposal, I will ask a couple of questions.

  1. Am I correct that quarterly cost of the DASHapp increased $400 from last quarter?
1 Like

I believe DASH averages 1.707 per quarter; the quota depends on the number of downloads. There are other tools for the DAO, like Google WP, Newsletter and marketing Department and infosec currently uses this.
so I have added extra room for that! We can fund the dash for another season without any USDC! BTW, someone from AV/design could clarify if they are planning to up/downgraded their plan.

@Jengajojo, its hard to measure KPIs here; Consider these our mandates!

For example

the problem vertices of BANK will not be the same everything, and those need a long-term vision rather than a short there 13 week KPIs.


@Droste are you able to confirm the cost of the dash app?
@0xbaer please also note that I commented on the working doc (notion page) for this proposal as well. As a member of the tokenomics Dept, I would have liked to address my comments within the Dept prior to the proposal going up. I could also add my questions here if that is the preferred method for questions *after * a proposal is live on the forum.

1 Like

That doc was there in the notion for about 2 /3 weeks.

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When I was handling the payment, it was $569/mo or $1707 per quarter. Since the invoicing and email notifications shifted to Treasury, I don’t have access anymore. But in looking at the website, I see they have changed their pricing model.

We’re due for a review of content that’s up there anyway. There’s a fair amount of outdated material. Pruning will likely save money since they price now based on a combination of monthly downloads + number of assets.

Hope this helps.


Thanks for getting back to me! Is this a review that AV would do? Are they scheduled or as needed reviews?

1 Like

Thanks. I missed it, I take responsibility for not seeking it out. However, just to note, I feel like previous seasons we have discussed it prior to going live but I could be mistaken. I am confused with the changes made to the qualifications for active membership. I don’t see where any governance process was followed at all. I also am very confused with the details of the change.

Short answer, no. Each dept/project is responsible for their own assets. Pruning, like governance, is everyone’s responsibility.

Operationally bDAO should have a taxonomy that we use consistenty for metadata & tagging. We do require a minimum set of metadata to be included; this was set up a while ago.

There had been a small budget for admin & library maintenance in prior seasons and was under Operations for a time. Prior to that it was in the AV budget. As far as I know there is no budget right now for maintenance.


There is a small payment to me still from Ops, as Dash admin.
I try to keep metadata consistent through periodic checking and application of controlled tags and as many fields as I can fill. Sometimes I don’t have enough to go on though.
However I am not usually confident pruning and it was never intended the role would control content inclusion/deletion.

We probably do need to think carefully about whether we still need this or whether viable alternatives exist.


My questions are still outstanding in the notion itself.

Why not list the Depts Polygon address (the one made when it was Treasury Guild)

Is this a work group? Per the definition of work group in the TD’s Guiding Principals or Working Agreement?

Should you include Polygon?

Also, why isn’t treasury reporting on the polygon chain assets? I have asked this previously

Treasury Department and guild don’t have a polygon address.

Do you mean the BanklessDAO Multisig polygon address?

Yep it is a new working group!

Treasury department doesn’t have a polygon address although BanklessDAO does.

@nikhilbaranwal is still working through all the accounting at the DAO, I imagine he may already have the polygon assets accounted for.
It not, he likely will soon.

Is there something specific you are looking for there or just for comprehensiveness?

Okay. I will have to show you the different addresses at some point.

I do believe that the only USDC payment that goes out of the treasury guild is for 1707, paid quarterly
Can you help me understand this tx:

And what is this address Address 0x30a33432858db2728e622f86609c1a1edc0da750 | Etherscan

Could you add some context as to how that address is related to our proposal?
I don’t know what or who it is.

It’s probably the parcel’s gas relayer.