| Team Name | Finance Team |
| Quarter and Year | Q2 2023 |
| Payout Address | 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1 |
| Total USD Value Requested | $29,891.60 USD |
Purpose
The Finance team continues with the core purposes from the previous quarter:
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Ensure safety and prudence go into every decision
-
Drive future protocol growth
-
Identify sustainable solutions
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Present objective data to the community
Acquiring these values, the Finance team will specially focus on Treasury sustainability and transparency. With the Treasury growth and the creation of multiple independent teams, the Finance team can offer a holistic view of the Treasury to bring clarity on a financial perspective.
Finally, the Finance team will monitor and implement changes to prize distributions with the purpose of growing the protocol in a sustainable manner. Example duties: monitoring prize data and sentiment, adjusting prizes and optimizing prize distributions to create the best user experience.
Previous Quarter Performance
The finance team had 3 clearly defined goals for the Q1 2023:
1. Quarterly review of DAO inflows/outflows
Objective: A quarterly report will be published giving specific and objective information on the inflows/outflows of the DAO.
The Finance Team has posted this quarter a review of inflows and outflows for the complete 2022 year (given that there was no review of previous quarters): 2022 Review of Treasury Inflows/Outflows
We have also published an analysis on Q4 2022 TBRs (Team Budget Requests Analysis Q4-2022) in order to give better visibility to the DAO regarding inflows and outflows from the Treasury, as well as a holistic view of all proposed teams.
2.Prize Distribution
Objective: Move to weekly prizes, embrace DPR functionality, maintain sustainable prizes, and build and maintain utilities (Node, Discord, WebApps, Dune) to monitor and measure prize results.
The timelock hurdle was removed, therefore unlocking the possibility of moving to weekly prizes. However, after further consideration from the Protocol Team, other difficulties were found to allow the protocol to move to weekly prizes. It has been considered that the effort required to make this change happen is better invested in getting the hyperstructure ready.
In Q1 2023, there have been 2 changes in the prize distribution so far. The first change was a transition phase until DPR was deployed in all chains where the protocol is operating. The second change has been live since the 26th of January. This prize distribution has unlocked a monthly grandprize of 5K, while also lowering the subsidy in order to achieve long term sustainability.
Several improvements have been made to different utilities:
WebApp: https://poolexplorer.win/protocol
Dune Dashboard: PoolTogether
Discord Bot.
3. Protocol-Owned Liquidity solutions
Objective: Monitor Uniswap V3 POL on Ethereum and Polygon and maintain the Arrakis Finance Liquidity program on Polygon.
We have conducted an analysis on our POL position on Ethereum: Ethereum Mainnet POL - Review
After reaching the desired metrics on the Arrakis Finance program, it has been maintained during this quarter (Uniswap V3 Liquidity Mining Rewards)
In order to improve the liquidity depth for trading and supporting the future hyperstructure mechanics, we have strengthen our POL position: PTIP-85 Strengthening Protocol Owned Liquidity
Goals
Aligned with the previously mentioned purposes, the Finance Team would have the following goals:
1. Quarterly review of Treasury inflows/outflows
As the PoolTogether community is expanding and attracting more contributors, a detailed view of incomes and expenses is required to determine the runway of the Treasury and be able to plan accordingly.
A quarterly report will be published giving specific and objective information on the inflows/outflows of the Treasury. This report will include a comparison to previous quarter spendings.
2. Prize distribution
Prizes are the main attraction of PoolTogether, so it is important to use them as effectively as possible to grow the protocol.
We will keep monitoring the existing prize distribution to make sure that we maintain a sustainable approach while taking advantage of the DPR functionality to offer bigger infrequent prizes.
The Finance Team will also build and maintain utilities (WebApps, Discord bot, Dune) to monitor and measure prize results.
3. Liquidity solutions
The team is committed to keep an eye on Uniswap V3 POL on Ethereum and Polygon, to help balance the liquidity in case it is required.
A report will be published regarding the Arrakis Finance liquidity program on Polygon. This report will help the community determine if the program is worth maintaining.
Budget
Requested Amount
| Amount | Token |
|---|---|
| 20,273 | USDC |
| 9,430 | POOL |
Budget Breakdown
Team Members
| Role | Yearly USD Compensation | Commitment Percentage | Quarterly USDC | Quarterly POOL | Contributor | Contributor Discord |
|---|---|---|---|---|---|---|
| Lead | $120,000 | 50% | 11,925 | 3,014.71 | underthesea | underthesea#4658 |
| Member & Communications | $120,000 | 35% | 8,348 | 2,110.29 | BRONDER | BRONDER#4788 |
With transparency in mind and the objective of making knowledge available to other community members, people interested in the Finance Team operations can request to join our discord and are invited to participate in our conversations.
Team Expenses
In order to organize certain activities, such as incentivizing liquidity with Arrakis, we request an extra 6,000 POOL.
Previous Budget Surplus
The Finance team keeps using the same 3 out of 6 multisig as the previous quarter (BraveNewDefi, BRONDER, DaBoom, drcpu, TheRealTuna, Lonser). As a consequence, the team inherits the existing budget for transactional costs kept safely in the gnosis safe amounting to:
| Description | Amount | Token |
|---|---|---|
| ETH for Operations | 1.52 | ETH |
| Extra POOL | 1,695 | POOL |
The Finance team is also in charge of the 3 out of 5 multisig belonging to the previous Prize Team (BRONDER, Dylan, Leighton, Ncookie, underthesea). This multisig does not custody any additional funds and is used for pushing new prize distributions.
All of the funds not used at the end of the quarter will be rolled over to the next quarter if the team is renewed. If not renewed, all leftover funds will be returned to the PoolTogether Treasury.
Appendix
Token Pricing
| Token | USD |
|---|---|
| ETH | $1,650 |
| USDC | $1 |
| POOL | $1.02 |