[BIP-9] Approve Treasury Galaxy Creation

In the BIP-6 accepted proposal, I (Baowolf) was appointed as Head of Treasury and Project Operations to help manage treasury budgeting, as well as the staking and liquidity of treasury assets.

As part of our decentralization process, it is important to have a distinct galaxy that will partake in the day-to-day treasury operations to ensure that we have a healthy and long-lasting operating cash flow for the long-term support of the DAO.

This new galaxy roles and responsibilities would include among other things :

  • Consolidating and centralizing liquidity from all revenue sources and franchises
  • Create and maintain strategies to stake and earn passive income with treasury funds
  • Ensure that the DAO has short-term liquidities to operate
  • Ensure the payment of grants, salaries, bounties, and operating expenses
  • Manage cash flow and projected balance of the DAO
  • Provide salary charts and scales to support the possible hirings and member onboarding
  • Report treasury activities

The initial composition of the galaxy will be the following guardians :

  • Baowolf (Head)
  • Baoman
  • Chickn

The guardians in the Council of Guardians will be consulted on many subjects to ensure the treasury management is aligned with the goals and objectives of each galaxy and the DAO.

Contributors can be onboarded in that galaxy and could potentially

  • Act as advisors
  • Define strategies
  • Create dashboards, analytics and reports
  • Help the other galaxies to report if necessary their operating cashflow

The operating budget of the galaxy will vary depending on the activity and strategies define to manage the liquidity it holds as Gas costs on Ethereum may come at a hefty price.

Besides gas, the initial operating budget should be of 2000$ a month following the same rules as the other galaxy operating budget, meaning that the galaxy operating budget can accumulate up to three months of budget if they don’t spend all their budget in the initial months.

The treasury galaxy will be tasked within 120 days, to provide a plan to the DAO about how the treasury will be managed with a proper risk management strategy. This would ensure that everyone in the DAO is informed about the long-lasting health of the DAO finances.

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Great proposal. Should we put limits on what strategies the galaxy could implement at first? Or maybe a percentage limit of the treasury that can be placed in one strategy? We want to provide the treasury with just enough room to operate efficiently without sacrificing decentralization of the treasury funds. Major treasury decisions should still be voted on so maybe defining a specific threshold could be helpful. The more limits we include on the galaxy as a DAO, the better in my opinion.

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Hmmm I do have the feeling that that is one of the things where we require the galaxy and dedicated people to create research based proposals on how/why the treasury should be invested in a certain manner. I do like the idea of limiting exposure to one protocol, but instead of slapping a limit on that now, I would prefer the people in the Treasury galaxy taking their time to create the right parameters.

Maybe we could add to the proposal that the galaxy would have a set time, say 120 days, to provide a plan to the DAO about how the treasury will be managed with a proper risk management strategy. This would ensure that everyone in the DAO is on the same page

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I am totally fine adding that :)

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I have edited the OP

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