Proposal: Treasury Working Group
We are proposing the funding of a Treasury Working Group for an initial 3 month phase ending on 30th June with the view of extending beyond, subject to community approval.
What is the core problem(s) you want to solve?
02/04/2021 - The Index Coop does not have a structure in place to manage our finances and so preserve/grow/sustain our treasury.
Why is this worth addressing today?
When DFC took on the treasury committee role, the intention (set out in this post) was to improve transparency and innovate around the treasury and tokenomics. We have since published our first financial report, communicated our goals and will soon implement a smart treasury. Looking forward, we need to distribute tokens to the community, fund growth, mitigate risks and protect our purchasing power for the long term.
How will you address it?
By forming a focused group to manage our assets, we can more effectively work to meet the goals of treasury management as laid out here. By kicking off the initiatives listed below the TWG intends to preserve, grow and sustain our treasury, making the Index Coop sustainable for the long term.
What impact will this project have?
- Develop structures for diversifying and managing the treasury
- Manage Operations Account funding and budgeting
- Grow links to other DAO treasuries, opening the path to potential IC product purchases and knowledge sharing
Working Group Leader(s)
DFC will be transitioning to the role of MVI community methodologist and therefore will be passing over the lead role in the coming weeks.
30.03.2021 - Discussion with @dylan concluded that someone from SET is to be heavily involve with this working group. Given it is a small group of people and the importance, the Lead or Co-Lead role (if created) may become a SET position. This group is expected to be currently around 4-5 people, excluding DFC or SET representative.
Request for Funding
- Lead Stipend - $7,000/month
- Other contributors would receive rewards via the monthly rewards distribution
- $5k over 3 months for smart contract work/gas costs and other miscellaneous items
02/02/2021 - @Matthew_Graham is part-time Index Coop and works full-time.
Organization - How will it work?
What will you be doing?
- Monthly Financial Report
- Apply clear, consistent, professional accounting methods
- OTC INDEX Offering
- KPI Rewards Program - Early Draft
- Contributor Rewards Currency Choice
- Investment Account Strategy
- Operations Account Financial Forecasting
- Potential Strategic Raise
- Contributor Token Ownership Plan
- Investment Account Funding Allocation
How will you interface with the community?
- Governance Forum Posts
- Weekly Presentation during Org Work Session Meeting
- Index Coop account publications
- #Treasury channel in Discord
Three Main Objectives of TWG
1 Determining what funds the DAO will allocate to an Investment Account. This is the first step towards preserve & sustain.
2 Begin working to diversify away from being >99% INDEX. This is a combination of creating liquidity via a secondary market and exploring OTC trades.
3 Pending how fast #1 progresses, we will be considering how to implement the Investment Account and what this entails.