TBR-Q2-2023 - Executive Team

Team Name Executive Team
Quarter and Year Q2 2023
Payout Address 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693
Total USD Value Requested $12,352

Purpose

The Executive-Team has been the primary custodian of prize pool contracts and prize liquidity since V4 inception. We handle custody and transaction matters where directed by governance, such as claiming rewards, and receiving tokens on networks other than mainnet. We are the goto solution for maximum security custody for the community.

We will continue the custody of delegations for the Community Team, Grants, and SerHotMike. Custody continues to be $300k in total.

We continue with a custody limit of $750k to put a hard cap on our total custody. Activities that approach the cap will be brought forward as an alert. Any funds over that amount will need to be approved by a vote to change the cap. This gives the community a clear picture of what our custody risk is.

Goals

Our primary focus is security. We maintain a 7/11 multi-sig of senior contributors who are well versed in PoolTogether infrastructure, happenings, and the greater DeFi ecosystem.

We look to act in a timely and efficient manner to ensure prize liquidity never runs dry, and that Pooler and treasury funds are safe.

These pillars form our goals

  1. Security

No loss. We strive to never lose funds. This is an easily evaluated metric we strive to maintain.

  1. Acting on governance directives

A quarterly team survey evaluates our performance alignment with governance directives. The executive-team aligns with the council. Any concerns from the community are encouraged.

  1. Ensuring prize delivery

Prizes promised are prizes delivered. We strive for no failed prize claims due to a lack of prize liquidity.

  1. Acting in an organized and efficient way.

A new procedure is being introduced to outline execution time expectations. Transactions will be presented by lead as having a standard 24hr time to sign and execute. Transactions requiring more immediate attention will be presented with a 12hr time to sign and execute. The team will strive to always meet these deadlines and missed time windows will be reported at quarters end.

Budget

Requested Amount

Amount Token
10,144 USDC
2165 POOL

Budget Breakdown

Team Members

Role Yearly USD Compensation Commitment Percentage Quarterly USDC Quarterly POOL Contributor Contributor Discord
Lead $120,000 16% $3,816 965 underthesea underthesea
Signer $100,000 4% $791 172 DaBoom DaBoom
Signer $100,000 4% $791 172 drcpu drcpu
Signer $100,000 4% $791 172 Hook Hook
Signer $100,000 4% $791 172 Noxe Noxe
Signer $100,000 4% $791 172 Lonser Lonser
Signer $100,000 4% $791 172 McOso McOso
Signer $100,000 4% $791 172 Pierrick Pierrick
Signer $100,000 4% $791 172 TheRealTuna TheRealTuna
Signer n/a n/a n/a n/a Brendan Brendan
Signer n/a n/a n/a n/a Leighton Leighton

Previous Budget Surplus

Any $ the team has that has carried over from previous quarters.

Description Amount Token
Compensation 176 POOL
Gas 392 USDC
Gas .115 WETH
Prize Liquidity 100,000 USDC

Carryover and Returning

  • Gas USDC and WETH will carryover
  • POOL Comp will carryover (requested = compensation - carryover)
  • We will return the 100k USDC previously funded for prize liquidity but no longer necessary given the reduction in subsidy

Appendix

Token Pricing

Token USD
USDC $1
POOL $1.02
4 Likes

Thanks. Makes sense. Question - how does the requested amount start to cover the annual budget ? Shouldn’t they match?

This is a quarterly request. Salaries are listed annualized but broken down on the right side of the table to show the amounts requested for this quarter. On mobile it may not be so apparent. Try scrolling right on the table.

Got it. Scroll on mobile was getting me. TY.

I guess then between the three active Q2 funding requests, the treasury is looking at allocating 22,000 POOL & $58,000. (Exec team + Community + Finance). Seems reasonable IMO.

If looking to sell POOL, happy to chat to see if SIZE makes sense here & coming quarters (or monthly) to reduce slippage x DCA (disclaimer, cofounder).

Nic

The Finance Team will publish an analysis of all TBR’s. There are more coming.

Please stop promoting protocols on my threads, thank you.

2 Likes

What does commitment percentage mean? Is it something like % of a full-time week? So a 4% would mean like 1.6 hours a week (assuming a 40-hour week)?

Yes! It means what you described.

1 Like

Proposal is live @ PoolTogether Governance