PLEASE SEE BELOW REPLIES FOR UPDATED PROPOSAL
|Team Name||Finance Team|
|Quarter and Year||Q4 2022|
|Total USD Value Requested||$25,250 USD|
The Finance team serves as a continuation of the previous Treasury Work Group. The TWG core purpose has always been to:
- Ensure safety and prudence go into every decision
- Drive future protocol growth
- Identify sustainable solutions
- Present objective data to the community
Acquiring these same values, the Finance team will specially focus on DAO sustainability and transparency. With the DAO growth and the creation of multiple independent teams, the Finance team can offer a holistic view of the DAO to bring clarity on a financial perspective.
Also, with V5 on its way, new opportunities, assets and yield sources will come to the protocol. The Finance team should provide a recommendation on the new elements to make sure that the DAO is able to make informed decisions.
Aligned with the previously mentioned purposes, the Finance Team would have the following goals:
1. Quarterly review of DAO inflows/outflows
As the DAO is expanding and attracting more contributors, a detailed view of incomes and expenses is required to determine the runway of the DAO and be able to plan accordingly.
A quarterly report will be published giving specific and objective information on the inflows/outflows of the DAO.
2. Asset Management Analysis
Protocol’s Treasury can provide a significant yield to help achieve sustainability. Due to Governor Alpha constraints, the options from which yield could be obtained have been limited in the past. With more innovation coming to DeFi and other options to explore, the Finance team should look for safe opportunities to be able to get yield on the DAOs assets.
With the top priority of keeping funds in control of the governance contract, at least 3 different yield strategies will be presented to the DAO.
3. Protocol-Owned Liquidity solutions
Given that the protocol is about to deploy liquidity on mainnet Uniswap V3, the team is committed to keep an eye on both this new deployment and the previous Polygon POL. It is also required to explore the possibilities to encourage depositors to migrate from Uniswap V2 to V3.
At least 1 alternative will be presented to the DAO to encourage Uniswap V2 LPers to migrate to Uniswap V3.
|Role||Yearly USD Compensation||Commitment Percentage||Quarterly USDC||Quarterly POOL||Contributor||Contributor Discord|
|Member & Communications||$90,000||30%||5,670||1,096||BRONDER||BRONDER#4788|
|Accountant / Member||5,670||1,096||Open Role|
|Temporary Consultant||5,000||0||Open Role|
In order to cover open roles we are looking for persons with experience in accounting, and expertise in liquidity and risk analysis. Those will be covered on specific occasions with a maximum budget of $5,000 per role.
The Finance team inherits the multisig previously used by the TWG. The 5 signers from the previous multisig that are not part of the Finance team will be removed. As a consequence, the team inherits the existing budget from the TWG kept safely in the gnosis safe amounting to:
|ETH for Operations||2.19||ETH|
The finance team will also inherit the UNI V3 positions on Polygon. However, as the team has become significantly smaller, the UNI V3 positions on Polygon should be migrated to the Exec-team for custody.
All of the funds not used at the end of the quarter will be rolled over to the next quarter in case the team gets approved. In case it is not, it will be returned to the PoolTogether Treasury.