Notes: Treasury Task Force (Weekly Calls)

General
3

2021-12-07 Treasury Task Force
Meeting #3

  • Threshold USD updates (Agoristen and Ben)
    • Proposal is making progress with task force
  • Liquidity Needs (Eastban)
    • Eastban working on Alchemix, KeeperDAO, MStable, Balancer
    • Looking for other protocols that uses the buyback and make
  • DAO-to-DAO Governance Updates (Jake)
    • No updates on that front
    • Need to update on MStable, Curve, etc.
    • Target assets are ones that: (s/o Will)
      • We’re bullish on / like
      • Advantageous from a governance perspective
      • Farmable (is a major plus)
      • Consideration: Token swaps can be dangerous unless they are trusted
    • Maple would be a good staking partner to approach
    • Let’s start presenting this on a weekly basis if possible
    • To talk about at next community call:
      • Are we ok with delegating responsibility to a company to exercise an open market acquisition of another project’s governance tokens?
      • This will prevent us from being front-run (on an open treasury process), but we can still mitigate risk by allocating a budget.
  • Budgeting for Guilds (Will)
    • Best way to do budgeting for guilds is streaming budgets with independent multi-sigs
    • How to decide funding size:
      • Community driven decision
    • How to distribute tasks for the various guilds?
      • Suggestion: For marketing guild specifically:
        • Monthly meetings to decide tasks for the month
        • Do a bankless dao bounty system
      • Thoughts on this proposal:
        • East: Agreed
          • Could also add a “tipping pot”
        • Jake: Agreed
          • Could be helpful for thUSD
      • Will setting up call with coordinape
  • What would it take to set up a bounty board? (Will)
    • Naxsun has started figuring this with Bankless
    • Should each guild manage their own?
      • Let’s start out with the marketing guild
    • Open question: is there KYC required?
    • Jake: Long term I think we want one board for all guilds, but to start we want to have a relatively small test (e.g. marketing).
    • This could potentially fall under the treasury responsibilities
    • Board is an opportunity for anyone to get involved - Will & Ms. Nu want to be a part of this or take lead
  • What returns should we be targeting? (Jake)
    • The inflation rate is 10%, this should serve as a standard annual hurdle rate.
    • The more pressing issues are liquidity and incentives (bribes, etc.)
    • Once we have that figured out we can focus more long term on yields and investments.
  • Lead on Olympus Pro - Billiboi
  • Jake to introduce Ondo contact to Eastban
3 Likes