We propose to create a DAO budget for the next 3 years where each year will need to be re-voted as slight changes might be needed.
The budget framework tries to take into consideration several DAO needs like hiring, incentivization programs, ad-hoc func allocation and more.
The goal of the budget framework is to create clarity and certainty for the community and its most prominent members (ambassadors, DAO employees, projects and more), create long term goals and align the DAO’s resources with the overall objectives of and goals of the protocol.
As of today (April 28th, 2022) the DAO has the following treasury:
- 494,291 SSV
- 5,541,259 USDC
- 66 ETH
- 16,640 LDO
The DAO has also provided liquidity on uniswap (worth $1M at the time of execution).
Link to excel sheet
The above spreadsheet encompasses several proposals that are already in motion, new hires by the DAO and a general miscellaneous budget which is controlled by the ambassadors committee (multi-sig gnosis safe).
All budget items (except miscellaneous) are and should be approved in separate proposals.
Items in the miscellaneous budget are approved by a quorum, as defined in the ambassadors multi sig wallet. All paid for items will be communicated by the ambassadors in a transparent way to the community.
The rationale behind this budget item is to enable dynamic and fast resource allocation without the need to re-open the budget time and time again as a budget proposal can’t possibly encompass all future payments.
Payroll is a big budgetary item which aims to expand the amount of people directly compensated by the DAO for part/ full time positions.
A dedicated acceptance framework should be adopted which details which positions the DAO looks to fulfill, how people are compensated, how termination works and how they apply and get into the DAO for part/ full time positions.
This budget proposal doesn’t discuss the above, it simply puts a budget item for it.
DAO Budget Mint
Starting from the second budget year (2023) the DAO will mint 3% of supply to itself.
Minting will occur at the beginning of the year
Accounting and Transparency
The final DAO budget proposal should name a budget leader that will keep track and communicate budget vs actual movements from the DAO wallet, future/ non-executed obligations and so on.
The budget leader role will require strict enforcement of the budget and monthly reports to the community where the DAO stands in terms of budget vs actual.
As a potential help to the budget leader, a CPA community member might help out to create consistent reporting for the budget and movements
During the year and as the need arises, the DAO can convert one treasury token to another via a dedicated proposal to rebalance and diversify its treasury.
- I support
- I’m against