TIP-021 Proposal: Discretionary Funding for the Integrations Guild

Proposals
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Executive Summary

The Threshold Integrations Guild (“IG”) is requesting initial discretionary funding of USD$40,000 (“Initial Funding”) from the Threshold Treasury.

Specifically, IG committee members are requesting an Initial Funding of 319,838 $T tokens, based on trailing 30D VWAP of $0.1251 as of 4/19/22 (via CoinMarketCap), that will be primarily used for:

  • DAO2DAO/protocol integration efforts
  • Compensation for IG non committee contributors
  • Daily operational and DAO tooling efforts (i.e. Notion website)
  • Miscellaneous tech support and mod group activities
  • Reimbursement to council members for gas fees related to executing multi-sigs and other operational activities
  • Other USD denominated expense reimbursement

Integrations Guild Goals / Missions

The goal of the Integrations Guild is to finalize and launch Thresholds’ flagship products as well as the integration of these products on various L1 and L2 protocols within DeFi:

  • tBTC v2
  • Proxy Re-Encryption (“PRE”)
  • Community-led thUSD stablecoin

As a newly formed protocol, Threshold will benefit from collaboration and partnerships with various DAOs and protocols, which may initially require token incentivization or swaps with various counterparties using $T.

Use of Proceeds

The Initial Funding will be managed under a newly formed IG multi-sig as proposed by the DAO’s Bootstrap proposal (2/28/22), and will be allocated towards IG goals listed above as well as any discretionary incentives from partnerships/relationships focused activities that may fall outside of initial IG scope.

Expiry / Timing of Initial Funding Spend

There will be neither an expiry on the allocation spend nor an estimate of when the funds will be spent, but the IG ensures that these funds will be prudently and responsibly allocated towards activities that are consistent with its focus on strategy, partnerships and protocol stewardship.

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Thanks Couch! Full support for this proposal and excited to see how the tech support working group shapes up in the DAO. It’s good that this proposal accounts for that upcoming cost.

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I strongly support this to fund the excellent work the IG is doing.

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On the Treasury Planning Call on 4/22/22, the team revisited the question in the #Integrations Guild chat originally posed by myself regarding the methodology of TWAP vs. VWAP to determine the $T amount:

In short, the group decided that we use TWAP for the first 6-9 months and revert to VWAP going forward once there is enough trading volume data to accurately calculate the $T price on a trailing 30D basis because there is less than two months of $T trading data outstanding currently. The primary reason for this approach is that the volume of T traded on 3/2/22 as a result of listing on Binance heavily skewed the VWAP results (3/2/22 accounted for ~613mn of T traded [of the total ~2.9bn traded since 2/10/22], or ~21% of total trading volume to date since 2/10/22).

Per the integrations guild agreement, we are amending the $T value as of 4/19/22 to $0.1306 (vs. $0.1251 previously), which will reduce the amount of $T for the IG discretionary budget funding by ~4% to 306,371 (vs. previously 319,838 T).

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